Canadian Retail: Loans and Provisions Financial Overview

Mexican Economy Diverse economy • The Mexican economy reflects a solid mix of commodities, goods production, and services Trade remains dominated by the U.S., but Mexico's diversification agenda is underpinned by 13 free-trade agreements with 47 countries that account for 40% of global GDP and include all G7 countries GDP Forecast 2020: -9.1% GDP Forecast 2021: +3.3% 19.2% Finance, Insurance, & Real Estate 15.7% Other 3.9% Natural Resources 4.9% Transportation & Warehousing 7.0% Health & Education MEXICAN GDP BY INDUSTRY* (Q2 2020) 2.1% Professional, Scientific, & Technical Services 4.7% Public Administration 16.1% Wholesale & Retail Trade 13.9% Manufacturing 7.1% Mining and Oil & Gas Extraction 5.4% Construction * Q3-2020 real GDP growth -8.6% y/y. Industry GDP breakdown not yet available for Q3-2020. Top 5 Trading Partners* -10 -12 -14 -16 -18 -2 -4 -6 6420246027002 Contributions to Mexican GDP Growth y/y % change -8 Other* Investment Net Exports Government Inventories Consumption Real GDP 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. Germany 3% South Korea 3%| Canada 3% China 13% Others 23% United States * Trade data updated as of Q2-2020 55% 59 59

View entire presentation