Canadian Housing Market Financial Analysis

Increasing Scale, Improving Focus¹ Gaining scale in key markets to drive earnings growth, improve earnings quality and reduce risk Gaining Market Share (Total Loans) Canada Mexico Q2/14 Q2/19 0 2 4 6 8 10 12 14 16 18 20% Increasing Scale with Strategic Acquisitions (2017-2019) MD Canada Chile MD Financial Management JARISLOWSKY FRASER GLOBAL INVESTMENT MANAGEMENT BBVA Peru banco cencosud Adds wealth management assets of $96B. Adds 110,000 potential primary customers. Doubles market share. Creates 3rd largest bank. Creates 2nd largest bank in credit cards. = Chile Peru Colombia Improving Earnings Quality Increased Wealth Management assets under management by 43% to $297B Targeting Wealth Management earnings contribution to All- Bank earnings of 15% over medium-term Establishing Global Wealth Management as standalone division in Q1/20 15-year period 2014-2019; 1Q4 2017 to Q2 2019 INCREASING SCALE, IMPROVING FOCUS Colombia Citibank Dominican Republic Creates market leader in credit cards. Doubles customer base. Creates 4th largest bank. PROGRESO... Reducing Risk Profile 54 countries 36 countries 2013 2019 Between 2014 and 2019, exited 18 countries with either low returns, small scale or higher operational risk, including: • Turkey Russia • Haiti ⚫ Egypt Taiwan UAE ⚫ 12 others • Exited 6 non-core businesses Reduced wholesale funding (% of assets) from 29.6% to 22.9% • Scotiabank® 9

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