Investor Presentaiton

Canadian Household Credit Growth Moderating Public policy changes are moderating growth in household credit • Total household credit growing 4.4% in nominal terms in 2018, vs 2008 peak of 12% y/y Consumer loans excluding mortgages (cards, HELOCs, unsecured lines, auto loans, etc.) are growing 4.4% in 2018 vs >6% in late-2017 • Mortgage credit growing 4.4% year-to-date vs 2008 peak of 13% HOUSEHOLD CREDIT GROWTH CONSUMER LOAN GROWTH RESIDENTIAL MORTGAGE GROWTH 20 20 %, 3-month moving average 20 %, 3-month moving average %, 3-month moving average 18 18 16 15 y/y % yly % change 16 14 change 14 12 m/m% change, yly % 10 change 12 SA 10 10 8 5 8 6 CO 6 st 4 2 0 m/m% change, SA 4 2 0 -5 0 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 Sources: Scotiabank Economics, Bank of Canada. 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 Sources: Scotiabank Economics, Bank of Canada. m/m% change, SA 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 Sources: Scotiabank Economics, Bank of Canada. Scotiabank® 43 43

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