#1Investor Presentation June 2021 Scotiabank®#2Caution Regarding Forward-Looking Statements From time to time, our public communications often include oral or written forward- looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2020 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate,” “intend,” “estimate," "plan," "goal," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and in business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy and financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward- looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2020 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2020 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov. 2#3TABLE OF CONTENTS Scotiabank Overview Business Line Overview: Canadian Banking Business Line Overview: International Banking Business Line Overview: Global Wealth Management Business Line Overview: Global Banking and Markets Risk Overview Treasury and Funding Appendix 1: Core Markets: Economic Profiles Appendix 2: Canadian Economic Fundamentals Appendix 3: Bail-in and TLAC Appendix 4: Covered Bonds Appendix 5: Additional Information Contact Information + 19 24 32 36 39 47 54 63 67 F 71 75 18 80 3#4• Scotiabank Leading Bank in the Americas Business Lines² Core Markets¹ #3 in Canada #3 in P&C Banking #3 in Peru #4 in Chile #2 in Capital Markets #5 in Mexico #6 in Colombia #3 in Wealth 1 Core Markets rankings based on latest available market share data on loans for publicly traded banks as of June 1, 2021 2 Business Line rankings based on Total Revenue or Total Net Income for publicly traded banks in Canada for the fiscal year ended October 31, 2020 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Full-Service, Universal Bank Canada Mexico Peru Chile Colombia Caribbean Uruguay Wholesale Operations USA UK Singapore Australia Ireland Change Scotiabank² 2021 YTD YTD/YTD Revenue Net Income $15,808MM (1%) $4,893MM +32% Return on Equity 14.6% +350 bps Operating Leverage +3.4% n.a. Productivity Ratio 51.8% (190 bps) Total Assets $1.1T (10%) 12.3% +140 bps CET1 Ratio Ranking by Market Share³ Canada #3 USMCA USA Mexico Top 10 FBO #5 Pacific Alliance Peru Countries Chile (PAC) #3 #4 Colombia #6 Hong Kong SAR China Brazil India Japan Earnings by Market2,4 1 Ranking by asset as at May 26, 2021, Bloomberg; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset. Revenue growth, Net Income growth, and Operating Leverage excludes divested operations; 3 Ranking based on market share in loans as of March 2021 in Mexico, Peru and Chile, as of February 2021 in Colombia, as of January 2021 in Canada for publicly traded banks; 4 Adjusted net income attributable to equity holders of the Bank for the 6 months ended April 30, 2021 -Other C&CA 3% 3% PAC 17% U.S.A 70% Canada 5#6Well-Diversified Business with Strong Returns Earnings by Business Line 1,2 Wealth Management 18% Earnings by Market1,2,4 Colombia Europe 1% Asia 1% Caribbean and 2% Central America Global Wealth Management 18% Wholesale Banking 23% Global Banking and Markets 23% Canadian Banking Personal & Commercial P&C Banking Q2/21 YTD 41% EARNINGS MIX 59% $4.5B³ International Banking P&C 18% Chile 6% Mexico 6% U.S. 7% C&CA Peru 3% 4% Q2/21 YTD EARNINGS MIX $4.5B³ Adjusted Return on Equity 1,2 by Business Line 21.6% 15.0% 14.9% 13.1% 11.6% 22.8% 17.3% 17.3% 14.6% 9.4% Canadian Banking International Banking Global Wealth Management Global Banking and Markets All Bank 3-year average ROE Canada 70% 1Net income attributable to equity holders for the 6 months ended April 30, 2021; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLs, Derivative Valuation Adjustment, and impairment charge on software asset; 3 Excludes Other segment; 4 Earnings from Brazil and Other totaled 0.3% of all-bank earnings 6#7Business Lines (Q2/21 YTD Results) Activity Business Line Products Personal & Commercial Banking Canadian Banking • Mortgages Auto Loans Commercial Loans • Personal Loans Credit Cards International Banking • Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards Wealth Management Global Wealth Management • Asset Management • Private Banking • Private Investment Counsel Brokerage ⚫ Trust Capital Markets Global Banking and Markets • Corporate Banking • Advisory Equities Fixed Income Foreign Exchange • Commodities $1,060 NIAEH¹ ($MM) $1,846 $827 $803 % All-Bank¹ 41% 18% 18% 23% % Target 35-40% 25-30% ~15% 15-20% Productivity 45.9% 54.1% 59.3% 48.1% Ratio¹ ROE1 22.8% 9.4% 17.3% 17.3% Total Assets² ($B) $370.3 $196.8 $27.9 $397.0 Employees³ 17,315 45,507 7,165 2,071 1 Adjusted figures for the 6 months ended April 30, 2021 2 Average balance for the 6 months ended April 30, 2021 3 As of April 30, 2021 7#8Why Invest in Scotiabank? Leading bank in the Americas . . Six core markets: Canada, US, Mexico, Chile, Peru and Colombia >95% of earnings from the Americas • Only universal bank with full presence in all Pacific Alliance countries Diversified exposure to high quality growth markets Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 229 million people in the Pacific Alliance countries comprise the 6th largest economy in the world , Increasing scale and market share in core markets • Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management, and funding versus competitors $ Strong risk culture: solid credit quality, well provisioned Acceleration in Digital Banking · • Strong Canadian risk management culture with strong capabilities in AML and cybersecurity Focus on secured and investment-grade lending $6.9 billion in allowances for credit losses as of Q2/21 • Increased Digital Adoption to 54% in Q2/21 Enhanced All-Bank Digital metrics to include Active Digital Users, Active Mobile Users, and Self-Serve Transactions in Q1/21 Named "Best Bank in North America for Innovation in Digital Banking" (2020) #1 ranking for "Online Banking Satisfaction" - J.D. Power 2020 8#9Focused on Higher Return Markets Higher Banking ROEs in Canada and Latam (Latest Reporting Period) 35% 32.5% 30% 29.4% 25% 20% 15% 12.1% 10.6% 10.1% 10% 10.1% 10.2% 6.0% 10.7% 5% 4.5% 0% Canada Latam >95% of All-Bank earnings S US Asia Europe 3-year average ROE Return on equity based on latest reporting period as of June 1, 2021 Canada figures are average of Canadian P&C return on equity Canada and US figures are average for five largest and 10 largest market share banks in each country, respectively. Latam figures are average of 8 banks across Mexico, Peru, Chile, Colombia, and Brazil Sources: Bloomberg LLP, Company Financial Reports 9#10Q2 2021 Financial Performance $MM, except EPS Q2/21 Y/Y Q/Q Reported Net Income $2,456 85% Pre-Tax, Pre-Provision Profit $3,694 3% 2% (4%) Diluted EPS $1.88 88% 1% Revenue $7,736 (3%) (4%) Expenses $4,042 (7%) (4%) Productivity Ratio 52.2% (260 bps) 10 bps Core Banking Margin 2.26% (9 bps) (1 bp) PCL Ratio¹ 33 bps (86 bps) PCL Ratio on Impaired Loans¹ 80 bps 24 bps (16 bps) 31 bps Adjusted² Net Income $2,475 81% Pre-Tax, Pre-Provision Profit $3,720 2% 2% (4%) Diluted EPS $1.90 83% 1% Revenue $7,736 (3%) (4%) Expenses $4,016 (7%) (4%) Productivity Ratio 51.9% (210 bps) 10 bps ADJUSTED NET INCOME² YEAR-OVER-YEAR ($MM) • YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS² +83% Adjusted pre-tax, pre-provision profit² +2% Adjusted revenue² -3% 。 Net interest income down 5% driven by lower margins o Non-interest income up 1% Core banking margin -9 bps (-1 bp Q/Q) o Decline primarily driven by central bank rate cuts, business mix changes and lower margin liquid assets Adjusted expenses² -7% YTD adjusted operating leverage² of +3.4% Strong ROE² of 14.9%, up 670 bps (+50 bps Q/Q) ADJUSTED NET INCOME 2,3 BY BUSINESS SEGMENT ($MM) 279 (305) +94% 1,350 (241) +165%4 21 +21% --1%->> 2,475 931 1,371 197 481 429 314 378 523 517 Q2/20 Net interest Income Non interest income PCLS Non-interest expenses Taxes Q2/21 Canadian Banking International Banking Global Wealth Management Global Banking and Markets Q2/20 Q2/21 1 Includes provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2 Refer to Non-GAAP Measures on slide 37 for adjusted results 3 Attributable to equity holders of the Bank 4Y/Y growth rate is on a constant dollar basis 10#11$3.31 Earnings and Dividend Growth Earnings per share (C$)1,2 2009-2019 CAGR: +8.0% 2010-2020 CAGR: +3.2% 2009 2010 2011 2012 2013 2014 Dividend per share (C$) $1.96 2015 2016 2017 2018 2019 Total shareholder return³ ■Scotiabank ■Big 5 Peers (ex. Scotiabank) $5.36 8.6% $3.78 2020 21YTD +6% CAGR 12.1% 11.8% 11.1% 11.3% 7.8% 5 Year 10 Year 20 Year $3.60 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 21YTD 1 Reflects adoption of IFRS in Fiscal 2011; 2 Excludes notable items for years prior to 2016. For 2016 onwards, results adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset; 3 As of April 30, 2021 $1.80 11#12Strong Capital Position CET1 Ratio 12.3%¹ +15 bps +29 bps 12.2% -8 bps -6 bps -20 bps Q1 2021 Reported Earnings less Dividends Organic RWA (ex. FX) Pension Remeasurement ELC Transitional Capital Relief Other (Including FX) Strong Capital Levels 14.0% 2.1% 1.0% Internal capital generation Q2 2021 Reported 15.5% 15.7% 15.7% 14.9% 2.1% 2.2% 2.1% 2.1% 1.5% 1.5% 1.4% 1.3% 10.9% 11.3% Q2/20 11.8% 12.2% 12.3% Q3/20 Q4/20 Q1/21 Q2/21 CET1 Tier 1 Tier 2 1Includes 14 bps benefit from OSFI's partial inclusion of stage 1 and 2 allowances 12#13Scotiabank in the Pacific Alliance Chile Mexico Peru Colombia Scotiabank Market Share¹ Market Share Ranking¹ 13.8% 4th Strengths All Products 7.8% 5th Auto and Mortgages 16.5% 5.4% Pacific Alliance Total/Average 10.5% 3rd 6th n.a. All Products Credit Cards, Personal All Products Average Total Loans² (C$B) $47.0 $30.2 $20.2 $11.0 $108.3 Revenue³ (C$B) $0.5 $0.5 $0.4 $0.3 $1.7 Net Income after NCI³,4 (C$MM) $147 $118 $73 $20 $358 ROE 2,3,4 11% 16% 11% 7% 12% # of Employees 5,6 7,840 9,796 10,238 6,271 34,145 Total Deposit Growth 7,8 Total Loan Growth 7,8 Productivity Ratio4 Total PTPP Growth 4,7,8 -1% -1% -6% Y/Y Y/Y Y/Y 58% 58% 80 78 76 113 58% 110 108 1,019 1,020 55% 51% 10 12 9 11 52% 9 11 131 121 902 25 25 24 43% 113 24 24 45 45 41% 19 17 16 23 427 201 47 47 47 44% 39% 305 309 36% 303 34% 21 20 345 308 234 27 27 29 29 28 33 31 30 283 252 238 Q2/20 Q1/21 Q2/21 Q2/20 Q1/21 Q2/21 Q2/20 Q1/21 Q2/21 Q2/20 Q1/21 Q2/21 Mexico Peru Chile Colombia 1 Ranking based on publicly traded banks by total loans market share, as of March, 2021; except Colombia as of February, 2021 2 For the three months ended April 30, 2021 3 For the three months ended April 30, 2021, not adjusted for currency 4 Results on an adjusted basis 5 Employees are reported on a full-time equivalent basis 6 As of April 30, 2021 7Y/Y and Q/Q growth rates (%) are on a constant dollar basis 8 May not add due to rounding 13#14Digital Progress: All-Bank • Canada: Continued growth in self-serve transactions driven by higher mobile and online usage • Pacific Alliance: Significant mobile user growth across all geographies, particularly in Peru and Mexico Digital Adoption (%)¹ 50% 47% 43% 36% +17% +700 bps Active Digital Users (#'000) 5,903 6,221 5,306 4,513 3,559 54% +1,800 bps +75% 2018 2019 2020 Q2/20 Q2/21 +8% 2018 2019 2020 Q2/20 Q2/21 7,524 6,316 7,099 7,676 5,276 Active Mobile Users (#'000)² +45% Digital Sales (%) 2018 2019 2020 Q2/20 Q2/21 +800 bps +500 bps 42% 36% 34% 28% 22% 89% Self-Serve Transactions 76% 80% 84% 89% +1,300 bps +2,000 bps (%)³ 2018 2019 2020 2018 2019 2020 Q2/20 Q2/21 Q2/20 Q2/21 1CB Digital Adoption definition was updated in Q1/21 to reflect new addressable customer base, excluding indirect-channel acquisitions 22018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 3 Prior periods from 2018 to 2020 have been restated in Q2/21 to align with current methodology 14#15Technology Strategy Co • Build a strong and scalable platform foundation • Cloud-first strategy for automation and speed Investments in Technology $ Rebalance core technology spending towards modernization Maintain consistent investment in technology 11.9% Tech expense 10.1% as % of revenue 7.8% $1,200 $2,430 $3,710 2010 2015 2020 Tech expense (in $millions) . Common systems Software re-use, best practice-sharing • Consistent software design Customer-focused micro-services Analytics on real-time data • Strong cyber-security foundation 15 15#16Fintech Strategy • • Embracing Fintech Scotiabank has embraced fintech and technology start- ups, acting as an advisor, partner, investor and customer The key objectives of Scotiabank's fintech strategy are: o Identify innovative companies, trends, and business models early o Test, learn, and implement fintech innovations o Drive an innovation culture at the Bank • Partnership Approach Scotiabank partners with VCs to amplify our relevance and reach in the global ecosystem, enabling earlier and faster access to innovative companies. Canada High-growth enterprise software firms in analytics, machine learning, and enterprise software Israel High growth tech companies in fintech and cybersecurity Latam Early-stage start-ups in digital banking and fintech Sample Focus Areas • Credit adjudication • • • Accessibility Natural language processing Personal financial management Customer experience and self-service • Machine-learning modelling IT Modernization Fraud Anti-Money Laundering Sample Partnerships A platform that provides insights and actionable money management M A platform that enables data scientists to develop and test models faster - Auto machine learning A platform that specializes in behavioural biometrics for AML & Fraud purposes 16#17• ESG Highlights Environmental Mobilized over $28 billion since November 1, 2018, toward our commitment of $100 billion by 2025 to reduce the impacts of climate change Commitment to establish bank-wide, quantitative, time-bound targets for reducing GHG emissions associated with our underwriting and lending activities Established a dedicated ESG Equity Research Team and launched a Sustainable Finance Group within Global Banking and Markets Implemented a Climate Change Risk Assessment tool for all business banking loans as a mandatory part of credit due diligence Updated Bank-wide credit policies published statements on our position to not finance oil and gas activities within the Arctic Circle, and thermal coal mining or coal power generation Established a target to secure 100% of electricity on a global basis from non-emitting sources1 by 2030, with an interim 2025 target of 100% for Canadian operations Social Launched Scotia RISE in January 2021, a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups Invested almost $85 million in communities in which we operate, through donations, community sponsorships, employee volunteering, and other types of community investment Contributed over $16 million to support people and communities most at risk during the pandemic, including direct contributions for COVID-19 relief, as well as support of hospitals and healthcare professionals Launched renewed five-year Diversity and Inclusion Goals, with a focus on people who identify as Black, Indigenous Peoples, Visible Minorities, People with Disabilities and Women Introduced a training module titled Building Indigenous Cultural Competency to help employees better understand and serve our Indigenous customers in Canada • • Governance For the third consecutive year, achieved top 1% in Corporate Governance among financial institutions globally according to the Dow Jones Sustainability Index, and awarded a perfect score on Anti-Crime Policies Strengthened approach to responsible procurement and supplier diversity by joining Canadian Aboriginal and Minority Supplier Council 42% of Board Directors are women². We first established a Board Diversity Policy in 2013 Spearheaded the development of Project Shadow, a public-private partnership designed to combat online child sexual exploitation by enhancing methods to detect, report and disrupt suspicious financial transactions Developed new internal training on ethics in artificial intelligence (AI) and delivered a data ethics workshop for executives TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES CDP DRIVING SUSTAINABLE ECONOMIES UN EQUATOR PRINCIPLES environment programme finance initiative Member of Dow Jones Sustainability Indices PRI Corporate ESG Performance MSCI ESG RATINGS AAA Bloomberg Gender-Equality Index Prime RATED BY Powered by the S&P Global CSA CCC B BB BBB AA AAA 2021 ISS ESG▷ REFINITIV TOP 100 COMPANY 2020 Diversity and Inclusion Index Includes renewable (hydro, solar, wind, geothermal, tidal) and nuclear sources, and may include the use of renewable energy certificates (RECs). 1 2 As at April 30, 2021. Note: The use by Scotiabank of any MSCI ESG Research LLC or its affiliates ("MSCI") data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Scotiabank by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCI. 17#18E ESG Spotlight - Retail Banking Housing Green Vehicles ESG Investing Focus Areas Leadership in ESG Education Leadership in ESG Funds Leadership in EV Incentives Leadership in EV Financing Leadership in Aboriginal Banking Leadership in Newcomers Banking 1 Represents bookings from Scotiabank subvented partners only. Recent Achievements Introduced Canada's first sustainable investing tools through Scotiabank's iTrade in 2017. Over 20,000 users interacted with the sustainable investing tool in 2020. iTrade continues to deliver online learning modules to customers interested in learning more about ESG issues. Launched four ESG focused funds in 2020, the Scotia Low Carbon Funds (Global Equity, Global Balanced, & Canadian Fixed Income) & the Dynamic Energy Evolution Fund for retail investors. These funds add to other ESG investing offerings, the ESG Equity Guided Portfolio, the Jarislowsky Fraser Fossil Fuel Free Funds and the MD Fossil Fuel Free Funds. Scotiabank in Mexico has offered customers an incentivized credit plan to purchase an electric or hybrid vehicle through CrediAuto's Green Credit Program. Scotiabank in Canada launched an EV special on Earth Day, April 22. This program applies to all electric and hybrid vehicles through our non-subvented program with preferred rates/ reserves for the financing of eligible vehicles. Scotiabank is a market leader in financing electric vehicles, having financed 43% of EVs in Canada in 2020.1 Substantial booking growth for electric vehicles in 2019 at 248% YoY and 16% YoY growth in 2020. We have an exclusive relationship with Polestar and Rivian as well as a semi-exclusive relationship with Tesla. Scotiabank operates 27 Aboriginal Banking Centres in Canada providing communities with our full range of banking services. The First Nations Leasehold program provides financing options for leasehold interests on First Nations land being developed with residential housing. Scotiabank's StartRightⓇ program addresses the unique banking needs of newcomers in Canada. The Scotiabank StartRightⓇ permanent resident mortgage program and the Scotiabank StartRightⓇ temporary resident mortgage program help facilitate newcomers' financing of home purchases. 18#19Business Line Overview Canadian Banking 19#20Canadian Banking: Overview Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 11 million Retail, Small Business and Commercial Banking customers. Through Tangerine, Canadian Banking also provides digital banking solutions to over 2 million customers. Business Mix Retail 67% Residential Mortgages 63% Financial Results $MM Q2/21 Y/Y Q/Q Revenue Mix¹, 2 $2.6B Average Loan Mix¹ $370B 12% 14% Auto Business and 9% Reported Net Income³ $927 95% 2% Pre-Tax, Pre Provision Profit $1,395 7% (3%) Revenue 33% Business Banking $2,624 4% (1%) Government Loans 2% Other Personal Credit Cards Adjusted Net Income 3, 4 ($MM) and NIM5 (%) Expenses $1,229 1% 2% Loans PCLs $145 (78%) (32%) Productivity Ratio 46.8% (150 bps) 130 bps 2.33% 2.26% 2.26% 2.26% 2.26% Net Interest Margin5 2.26% (7 bps) PCL Ratio6 16 bps (61 bps) (7 bps) 782 915 931 PCL Ratio on Impaired Loans 27 bps (9 bps) 4 bps 481 433 Adjusted4 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Net Income³ $931 94% 2% Medium-Term Financial Objectives Net Income Growth³ Target? 5%+ Pre-Tax, Pre Provision Profit Expenses Productivity Ratio $1,400 7% (3%) $1,224 1% 2% 46.6% (150 bps) 130 bps Productivity Ratio Operating Leverage <44% Positive 1 For the three months ended April 30, 2021; 2 Reflects the adoption of leases accounting standards, IFRS16; 3 Net income attributed to equity shareholders; 4 Adjusted for Acquisition related amounts" 5 Net Interest Margin is on a reported basis; 6 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 73-5 year target from 2020 Investor Day 20 20#21Loan Portfolio 83% Real Estate Secured Lending • High Quality Residential Mortgage Portfolio 。 35% insured; remaining 65% uninsured has an LTV of 51%1 。 Mortgage business model is “originate to hold" 。 New originations² in Q2/21 had average LTV of 64.4% 。 Majority is freehold properties; condominiums represent approximately 15% of the portfolio • Market Leader in Auto Loans o $38.9 billion retail auto loan portfolio with 9 OEM relationships (5 exclusive) o Prime Auto and Leases (~92%) 。 Stable lending tenor with contractual terms for new originations averaging 77 months (6.5 years) with projected effective terms of 53 months (4.5 years) • Prudent Growth in Credit Cards 。 $6 billion credit card portfolio represents ~2% of domestic retail loan book and ~1% of the Bank's total loan book o Organic growth strategy focused on payments and deepening relationships with existing customers 4% Unsecured DOMESTIC RETAIL LOAN BOOK³ $335B 2%- Credit Cards 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 2 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of April 30, 2021; Percentages may not add to 100% due to rounding 12% Automotive 21 24#22Residential Mortgages ⚫ Four Distinct Distribution Channels¹: 1. Broker (~58%); 2. Branch (~20%); 3. Mobile Salesforce (~22%) and 4. eHOME (~1%) FICO® Distribution - Canadian Uninsured Portfolio 2,3 Q2-20 Q1-21 Q2-21 65% Canada Average FICO Score Canada 795 GTA 798 Total Originations ($B) Uninsured LTV 10.5 16.1 16.9 64% 64% 64% GVA 795 15% 8% 10% 2% < 635 636-706 707-747 748-788 > 788 Greater Toronto Area Total Originations ($B) Uninsured LTV Greater Vancouver Area Total Originations ($B) Uninsured LTV 3.3 5.2 5.0 62% 63% 63% 1.4 1.9 2.1 62% 62% 63% Canadian Mortgage Portfolio: $257B (Spot balances as at Q2/21, $B) $137.2 $17.9 Freehold $214B (85%) Condos - $36B (15%) 35% Insured $119.3 $49.4 $13.0 $31.8 Total Portfolio4: $257 billion $3.8 $36.4 $28.0 Ontario BC & Territories Alberta $17.5 $15.2 Quebec $2.3 $11.2 $11.0 $0.2 $10.0 $0.7 $9.3 Atlantic Provinces Manitoba & Saskatchewan % of portfolio 53.4% 19.2% 12.3% 6.8% 4.4% 3.9% 65% Uninsured 1 Sum of the parts might not add to 100% due to rounding 2 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporation 3 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 4 Includes Wealth Management 22 22#23Automotive Finance • Canada's leader in automotive finance • Provide personal and commercial dealer financing solutions, in partnership with nine leading global automotive manufacturers in Canada ⚫ Portfolio decreased 4.9% year-over-year¹. Personal down 1.4%, Commercial down 21.9% Commercial 13% Near-Prime Retail AVERAGE ASSET MIX 7% $43.5B¹ 80% Prime 100% Secured Retail Exclusive Relationships MAZDA VOLVO POLESTAR RIVIAN JAGUAR/LAND ROVER Semi-Exclusive Relationships* HYUNDA CHRYSLER GENERAL MOTORS TESLA * 1 to 2 other financial institutions comprise Semi-Exclusive relationships Market Share Prime Retail Market Share² Near-Prime Retail Market Share³ Commercial Floorplan Market Share4 36% 64% 78% 22% 73% 27% Asset Growth $44.4B $43.5B $42.3B $39.7B $37.1B 2016 2017 2018 2019 2020 1 For the three months ended April 30, 2021; 2 CBA data as of December 2020, includes RBC, CIBC, Canadian Western Bank, National Bank, TD, Scotiabank, Laurentian Bank; 3 DealerTrack Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for April 2021 originations; 4 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of December 2020 23#24Business Line Overview International Banking 24 24#25International Banking International Banking has a strong and diverse franchise with more than 10 million Retail, Corporate, and Commercial customers. International Banking continues to offer significant potential for the Bank, with a geographical footprint encompassing the Pacific Alliance countries of Mexico, Colombia, Peru and Chile as well as Central America and the Caribbean. Business Mix Business Loans 54% Financial Results $MM Q2/21 Y/Y² Q/Q² Asia 2% Revenue Mix¹ $2.4B 77% Latin America Credit Cards 5% Auto 2% Loan Mix¹ $142B 12% 21% C&CA Personal Loans 27% Reported Net Income³ 420 +203% +12% Pre-Tax, Pre Provision Profit 1,084 (5%) (4%) Revenue 2,378 (6%) (5%) Adjusted Net Income³ ($MM) and NIMA (%) Residential Mortgages Expenses 1,294 (6%) (5%) PCLS 396 (59%) (22%) Productivity Ratio 54.4% +30 bps (34 bps) Net Interest Margin4 3.95% (33 bps) (8 bps) 4.28% 3.99% 3.97% 4.03% 3.95% PCL Ratio5 PCL Ratio Impaired Loans5 118 bps (160 bps) (31 bps) 2.81% +136 bps +131 bps 398 429 283 197 53 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Adjusted4 Net Income³ Pre-Tax, Pre Provision Profit Expenses PCLS 429 +165% +11% 1,095 (8%) (4%) 1,283 (4%) (5%) 396 (59%) (22%) Medium-Term Financial Objectives Net Income Growth Productivity Ratio 53.9% +146 bps (30 bps) Target6 9%+ Productivity Ratio Operating Leverage <50% Positive 1 For the 3 months ended April 30, 2021; 2Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis; 3 Attributable to equity holders of the Bank; 4Net Interest Margin is on a reported basis; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 6 3-5 year target from 2020 Investor Day 25 25#26PAC Fundamentals Driving Growth Strong Governance Democratic countries with open economies Independent central banks with inflation targets Free trade agreements and free-floating currencies ⚫ Business-friendly environments Sound Macro Environment Diversified economies with strong GDP growth Resilience to economic and political cycles Low Debt/GDP ratios with relatively low fiscal deficits compared to G7 • Increasing adoption of banking services Favourable Demographics 229 million people with. median age of 30 years Rebounding domestic consumption • Increasing exposure to Asian growth markets Among the fastest growing smartphone markets in the world Considerable growth in middle class 26#27Scotiabank in Mexico Business Overview Customers ~3.1MM Corporate/ Commercial Residential Mortgages 23.5% Market Position by Loans4 Employees ~10,100 29% Branches1 531 15.0% 13.3% Average Loans $30B Loans $30.3B 10.2% 59% Average 6% $28B Personal Loans 7.8% 6.9% Deposits 4% 3.8% Auto 2.1% Total NIAT2,5 $400MM Credit Cards ROE³ 12.1% BBVA B citibanamex Retail Loans 85% 15% BANORTE 8 banregio BBVA Banorte Santander Banamex Scotiabank HSBC Productivity³ 54.6% Secured Bajio Regio Unsecured PTPP Earnings 924 738 2017 Constant currency 2018 +14% CAGR 978 1,087 Productivity Ratio 58.6% 55.4% 55.0% 54.4% Operating Leverage 7.5% 6.9% 1.9% -0.9% 2019 2020 2017 2018 2019 2020 2017 2018 2019 2020 All figures in CAD$ including Wealth Management 1 Includes bank and wealth branches; does not include 177 Credito Familiar branches 2LTM Q2/21 3 Adjusted as Reported 4 Source: CNBV as of March 2021 5 Adjusted after NCI 27 27#28Scotiabank in Peru Business Overview Residential Mortgages Market Position by Loans4 Customers¹ ~4.2MM Corporate/ Commercial 13% 33.0% Employees¹ ~10,700 Personal Loans Branches1 294 21.4% Average Loans $20B Loans $20.4B 21% 16.5% 12.6% 58% Average $16B 5% Deposits Credit Cards 3% 0% Other Total NIAT 2,5 $277MM Auto BCP ROE³ Productivity³ 8.5% 35.1% Retail 40% 60% BCP BBVA BBVA Scotia Interbank Loans Secured Unsecured PTPP Earnings Productivity Ratio Operating Leverage +9% CAGR 39.3% 1,508 1,498 1,279 1,157 2017 Constant currency 2018 All figures in CAD$ including Wealth Management 1 Including subsidiaries 2 LTM Q2/21 2019 2020 3 Adjusted as Reported 4 Market share as of March 2021. Scotiabank includes SBP, CSF and Caja CAT 5 Adjusted after NCI 37.5% 35.1% 1.8% 35.2% 6.8% 5.0% 0.3% 2017 2018 2019 2020 2017 2018 2019 2020 28#29Scotiabank in Chile Business Overview Market Position by Loans4 Residential Mortgages 18.5% 17.0% 38% 13.9% 13.8% 45% Loans $47.0B 9.5% Customers¹ ~2.8MM Corporate/ Commercial Employees ~7,900 Branches1 131 Average Loans $47B Average $24B Deposits 0%5% 12% Total NIAT 2,5 $444MM Auto Credit Cards ROE³ 7.8% Retail Loans 80% Productivity³ 43.9% Secured PTPP Earnings 789 535 Personal Loans 20% Unsecured 急 TR ५ Itaú Santander Chile BCI Scotiabank Itaú Productivity Ratio +30% CAGR 49.5% 1,202 1,185 2017 Constant currency 2018 All figures in CAD$ including Wealth Management 1 Includes affiliates & consumer microfinance 2 LTM Q2/21 3 Adjusted as Reported 2019 2020 4 Market share as of March 2021, includes only private banks, Source: CMF 5 Adjusted after NCI Operating Leverage 13.3% 8.5% 44.7% 43.3% 43.4% 4.3% 0.0% 2017 2018 2019 2020 2017 2018 2019 2020 29 29#30Scotiabank in Colombia Business Overview Customers¹ ~2.7MM Corporate/ Commercial Residential Mortgages 26.0% 18% Market Position by Loans4 Employees ~6,500 Branches 152 Average Loans $11B 45% Loans $11.0B 18% Personal Loans Average $10B 16.6% 12.6% 10.2% 6.2% 5.4% 4.3% Deposits 0% 18% Total NIAT 2,6 -$3MM Auto Credit Cards ROE³ ▸ BBVA 1 -0.4% Retail 36% 64% Loans Bancolombia Davivienda Bogotá 5 BBVA Productivity³ 58.2% Secured Unsecured Occidente Scotiabank Popular5 Colpatria PTPP Earnings 460 519 2017 Constant currency 2018 Productivity Ratio +3% CAGR 664 507 54.5% 53.4% 52.6% 2019 2020 All figures in CAD$ including Wealth Management 1 Includes affiliates & consumer microfinance 2 LTM Q2/21 3 Adjusted as Reported 4 Market share as of February 2021 5 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. 6 Adjusted after NCI Operating Leverage 59.8% -1.8% -2.4% -6.4% -7.6% 2017 2018 2019 2020 2017 2018 2019 2020 30#31Other Regions Leading Caribbean & Central American franchise Caribbean & Central America Asia • • Leading bank serving retail, commercial, and corporate customers Major markets include the Dominican Republic, Jamaica, Trinidad & Tobago, Costa Rica, Panama and The Bahamas Sharpened geographic footprint by exiting higher risk, low growth jurisdictions including Haiti, El Salvador, Puerto Rico, US Virgin Islands, British Virgin Islands, Belize and 8 of the Leeward Islands Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 China: ~18% interest in Bank of Xi'an CAD $935MM carrying value as of April 30, 2021 • Bank of Xi'an reported $511MM of net income for the twelve months ended October 31, 2020, of which Scotiabank's share is 18% 31#32Business Global Wealth Line Overview Management 32 32#33Global Wealth Management 3rd Largest Wealth Management Business in Canada' Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Business Overview² 12% 11% Revenue AUM $1.3B 88% International $332B 89% Canada Adjusted Net income 3,4 ($MM) and ROE³ (%) Financial Results 19% AUA $571B $MM, except AUM/AUA Reported Q2/21 Y/Y Q/Q 81% 17.9% 16.7% 13.8% 14.3% 14.3% 425 62 314 332 333 363 378 Q2/20 Q3/20 Q4/20 Q1/21 Net Income4 $372 23% (11%) Pre-Tax, Pre Provision Profit $506 23% (12%) Revenue $1,308 16% (6%) Expenses $802 12% (2%) PCLS ($2) nmf nmf Productivity Ratio 61.3% (210 bps) 250 bps AUM ($B) $332 19% 6% AUA ($B) $571 20% 4% Adjusted² Q2/21 Ex. Performance Fees ■Performance Fees Medium-Term Financial Objectives Net Income Growth Productivity Ratio Operating Leverage Target5 8%+ <65% Positive Net Income4 $378 21% (11%) Pre-Tax, Pre Provision Profit $516 20% (11%) Expenses $792 14% (2%) Productivity Ratio 60.6% (130 bps) 250 bps 1 Based on Total Net Income for publicly traded banks in Canada for the fiscal year ended October 31, 2020; 2 Figures as of April 30, 2021 or for the 3 months ended April 30, 2021; 3 Adjusted for Acquisition- related costs and impact of additional pessimistic scenario; 4 Attributable to equity holders of the Bank; 53-5 year target from 2020 Investor Day 33#34Global Wealth Management #2 in earnings growth¹ | #1 in revenue growth1 | #1 operating leverage relative to peers¹ 3rd Largest Wealth Management Business in Canada¹ Investment Management A broad selection of actively managed investment solutions from our innovative manufacturing platform. Mutual Funds ETFs Pooled Funds Segregated Portfolios Institutional Asset Management Distribution Channels A powerful advisory and distribution network across Canada and Latin America. Private Investment Counsel Full-Service Brokerage Private Banking Trust Services Online Brokerage Retail Bank Branch Network Mobile Advice Team 3rd Party Distributors 1 Figures as of January 31, 2021 Dynamic Funds JARISLOWSKY FRASER Scotia MD Wealth Management. MD Financial Management Scotia iTRADE, Scotiabank. Branch mobile advice team 34 =4#35Global Wealth Management Strong investment performance, increasing scale • Market-Leading Capabilities Award-Winning Investment Management Dynamic Funds ranked #1 among independent mutual fund companies, for 5-year returns ⚫ Scotia GAM ranked #2 for retail mutual fund net sales among banks in Q2 and FYTD • Scotia GAM won 20 Lipper Fund Awards and 41 FundGrade A+ awards (Dynamic Funds & Scotia Funds) Mexico Asset Management awarded Morningstar's best Asset Manager in the Balanced Funds category Chile Asset Management received 6 Premios Salmon mutual fund awards ⚫ Chile Asset Management awarded Best International Funds manager • Chile's Scotia Futuro Mutual Fund won the Salmon award from LVA Indices Tailored Advice Largest Private Investment Counsel business in Canada (SWM, MD, JFL, PIC) 2021 World's Best Private Banks awards in Peru and Bahamas (Global Finance) Two Captive International Cayman awards for the Bank of the Year and Letters of Credit and Trust Provider of the Year #2 Bank-Owned Brokerage Firm (Investment Executive Brokerage Report Card, 2021) AUM +11% CAGR AUA +6% CAGR Investment Performance Highlights¹ of assets in the top two quartiles over % five-year period - 1832 Asset Management 76% 75% five-year period - Jarislowsky Fraser of core funds in the top two quartiles over 502 292 404 193 2016 2020 2016 2020 1 October 2020 35#36Business Line Global Banking Overview and Markets 36#37Global Banking and Markets Global Banking and Markets (GBM) provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. GBM is a full service wholesale bank in the Americas, with operations in 21 countries, serving clients across Canada, the United States, Latin America, Europe and Asia-Pacific. Business Overview Financial Results Asia Canada 5% Europe Global Equities Business 49% Banking $MM 7% 54% Geographic Revenue¹ 21% Revenue By Business Line¹ Reported $1.3B $1.3B 34% US 30% FICC Q2/21 Y/Y Q/Q Net Income² $517 (1%) (5%) Pre-Tax, Pre Provision Profit $624 (26%) (14%) Revenue $1,257 (14%) (6%) Expenses $633 3% 3% Adjusted Net Income ²,³ ($MM) and ROE³ (%) 2,3 PCLs ($43) nmf nmf 17.5% 17.4% 17.3% Productivity Ratio 50.3% 810 bps 430 bps 15.4% 14.6% PCL Ratio4 (18 bps) (72 bps) (26 bps) PCL Ratio Impaired Loans4 5 bps (4 bps) (1 bp) 523 600 543 517 460 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Medium-Term Financial Objectives Net Income Growth Target5 ~5% Productivity Ratio Operating Leverage ~50% Positive 1 TEB Revenue for the 3 months ended April 30, 2021. Note GBM Latam revenue contribution is reported in International Banking results; 2 Attributable to equity holders of the Bank; 3 Adjusted for impact of additional pessimistic scenario; 4 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 53-5 year target from 2020 Investor Day 37 37#38GBM in US and Latam Delivering the full bank to meet our Americas clients' needs Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, US1 Revenue Latam¹ Cash Management and Trade Finance $427 million $362 million • Top 10 foreign bank $37 billion Average Loans $43 billion organization (FBO) in the US Client list focused on S&P $86 billion Average Deposits $22 billion $177 million Total NIAT $169 million 500, investment grade corporates Current sectors of strength include: Power & Utilities and Energy. Focus areas for growth include Consumer /Industrial/Retail (CIR), Technology, and Healthcare 55.3% 5 Productivity Offices 29.6% • • Wholesale bank in Latam: Advisory, financing and risk management solutions, and access to capital markets Only full-service corporate/commercial bank with local presence in all Pacific Alliance countries Enhanced connectivity to rest of Americas, Europe and Asia Top tier lending relationships with local and multi-national corporate clients • Focused on Pacific Alliance expansion and modernization of technology platforms FORTUNA SILVER MINES INC. is merging with Roxgold for US$822,000,000 Financial Advisor Pending 1 Figures for fiscal Q2/21 MANTOS COPPER has sold a 30% minority interest in its Mantoverde mine to MITSUBISHI MATERIALS for US$263,000,000 Financial Advisor February 2021 KKR Acquired a 60% stake of Telefonica Chile Fiber Assets at an EV of: ~US$1,000,000,000 TLB, Capex, & RCF financing totaling US$386,000,000 Financial Advisor, Joint Global Arranger and Joint Bookrunner February 2021 SOUTHERN PEAKS MINING LP has sold a precious metals stream from its Condestable mine to Franco-Nevada for US$165,000,000 Financial Advisor March 2021 PetroRio Acquisition of 28.57% non-op WI in Wahoo asset in offshore Brazil from TOTAL Undisclosed Financial Advisor March 2021 VestɅ Follow-on Scotiabank for US$229,000,000 International and Local Joint Bookrunner April 2021 38#39Risk Overview 39#40Risk Snapshot RWA Breakdown¹ Credit Exposure by Country2,3 Credit Exposure by Sector 1,2,4 ■Canada Real Estate and Construction 6.4% ■ Chile ■ Credit Risk 66% ■ U.S. 2% Financial Services Wholesale and Retail 4.2% 3.9% 4% 12% $404B 86% 56 ■ Operational Risk $615B1 4% 5% ■ Other International ■Mexico Other 2.9% Utilities 2.6% ■Market Risk 5% ■ C&CA Technology and Media 2.5% 7% 7% ■ Peru Agriculture 2.4% ■ Colombia Automotive 1.9% Canadian Banking 1,2 Personal & Commercial Lending International Banking1,2 Energy 1.8% Food and Beverage 1.7% Transportation 1.4% Health Care 0.9% Mining 0.8% ■ Secured 70% ■ Secured 6% $328B $66B 94% ■ Unsecured 30% Sovereign 0.8% Hospitality and Leisure 0.7% ■ Unsecured Metals 0.4% Forest Products Chemicals 0.3% 0.2% 2% of total loans and acceptances 3 As at October 31, 2020 4 Regulated/contracted midstream has been moved from Energy to Utilities as of Q1/21. Prior periods have been restated to conform to the current presentation 1 As at April 30, 2021 40 40#41Credit Quality GILs1 ($MM) AND GIL RATIO1 81 bps 81 bps 84 bps 81 bps 78 bps 5,120 31 285 5,148 26 209 5,053 26 302 5,279 39 -224 33 5,116 286 1,222 1,209 1,067 1,049 1,040 3,582 3,704 3,676 3,949 3,757 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 HIGHLIGHTS GIL ratio improved 3 bps Q/Q driven by the impact of foreign currency translation and higher write-offs in International Retail Banking GILs in Business Banking were stable, with new formations driven mainly by two accounts NET WRITE-OFFS ($MM)² AND NET WRITE-OFFS RATIO2,3 76 bps 47 bps 47 bps 41 bps 43 bps 1,141 13 219 732 750 1 13 33 632 674 265 266 26 25 201 227 • 910 454 450 379 448 HIGHLIGHTS Increased write-offs driven by International Retail Banking Business Banking write-offs were stable and trending towards pre-pandemic levels Peak quarter for write-offs (1) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 As a percentage of period end loans and acceptances 2 Net write-offs are net of recoveries 3 As a percentage of average net loans and acceptances 41#42Credit Performance TOTAL ACLs ($MM) AND ACL COVERAGE RATIO1 125 bps 125 bps 116 bps 109 bps 95 bps 7,820 7,810 7,403 181 -220 -182 6,893 6,079 1,957 1,994 -177 74 1,776 1,938 1,643 5,445 5,682 5,596 4,362 4,778 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Performing Loan ACLs Impaired Loan ACLS Other² TOTAL PCLs ($MM) 3,4 AND PCL RATIO • • 119 bps 136 bps • 2,181 73 bps 1,846 -2 149 49 bps • 155 -2 33 bps 752 670 1,131 3 330 62 764 4 496 1,278 215 20 1,019 145 736 525 396 (2) (43) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 International Banking Canadian Banking Global Banking and Markets Other4 1 ACL coverage ratio defined as period end ACLs divided by gross loans HIGHLIGHTS $6.9 billion in total ACLS (35% above pre-pandemic levels) Performing loan ACLs decreased 15% from the prior quarter Total ACLS represents ~10 quarters of net write- offs Total ACL coverage ratio of 109 bps HIGHLIGHTS Total PCL ratio of 33 bps decreased 86 bps Y/Y and 16 bps Q/Q The Q/Q improvement was driven mainly by performing ACL releases due to a more favourable credit quality and macroeconomic outlook and migration to Stage 3 PCL 2 Includes ACLs on off-balance sheet exposures and ACLS on acceptances, debt securities and deposits with financial institutions 3 Includes provision for credit losses on debt securities and deposit with banks in International Banking (Q1/20: -$1 million, Q2/20: $1 million, Q4/20: -$1 million), in Global Banking and Markets (Q3/20: $1 million, Q4/20: -$1 million), in Global Wealth Management (Q3/20: -$1 million) and in Other (Q1/20: $1 million, Q2/20: -$2 million, Q4/20: $2 million) 4 Other includes provisions for credit losses in Global Wealth Management of -$2 million (Q2/20: $2 million, Q3/20: $1 million, Q4/20: $3 million, Q1/21: $4 million) 42#432007 2008 2009 2010 0.50% 0.40% 0.30% 0.19% 0.20% 0.10% 0.00% 2007 2008 2009 2010 0.80% 0.60% 0.40% 0.20% 0.12% 0.00% 2007 2008 2009 0.24% 2010 0.23% 0.37% 0.35% 0.28% 0.23% 2011 2012 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.25% 0.00% 0.44% 0.90% 1.00% 0.75% 0.75% 0.86% 1.27% 1.24% 1.26% Average (2007 - Q2/21) 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2011 2012 2013 2014 2015 2016 2017 2011 2012 0.59% Historical PCL Ratios on Impaired Loans CANADIAN BANKING' 2015 ALL BANK¹ 0.56% 0.50% 0.49% 0.47% 0.49% 0.45% 0.34% 0.36% 0.40% 0.42% 0.43% Avg: 44 bps 0.32% 0.28% 0.29% 0.23% 0.23% 0.18% INTERNATIONAL BANKING¹ 2018 2019 1.21% 2020 2017 2018 2019 2016 2017 2018 0.24% 0.29% 0.32% 0.23% 0.27% Avg: 26 bps 2020 1.29% 1.30% 1.49% 1.50% Avg: 115 bps 43 Q1/21 2.81% Q2/21 Q1/21 Q2/21 0.80%#44Canadian Retail: Loans and Provisions' MORTGAGES AUTO LOANS 224 216 4 2 1 2 1 1 106 91 99 1 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 99 105 89 78 81 LINES OF CREDIT² Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 CREDIT CARDS 164 169 1,002 896 79 62 70 410 400 322 87 74 65 60 57 445 401 312 321 310 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 PCL as a % of avg. net loans (bps) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 PCLs on Impaired Loans as a % of avg. net loans (bps) Loan Balances Q2/21 Mortgages Auto Loans Lines of Credit² Credit Cards Total Spot ($B) $257 % Secured 100% $39 100% $32 $6 $3353 64% 2% 94%4 1 Includes Wealth Management. PCL excludes impact of additional pessimistic scenario 2 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 3 Includes Tangerine balances of $6 billion and other smaller portfolios 4 82% secured by real estate; 12% secured by automotive 44#45International Retail: Loans and Provisions Markets with Greater Weighting to Secured MEXICO 1.1x 3031 323 CHILE 0.7x 1911 139 CARIBBEAN & CA 1.1x 2781,2 3062 550 591 556 428 279 321 457 280 191 246 228 208 248 Impaired Avg. 155 181 Impaired Avg. 153 bps Impaired Avg. 213 bps 326 261 221 160 187 261 bps 238 67 178 267 150 250 251 253 243 154 175 190 141 81 203 205 87 163 70 138 170 165 231 221 204 216 195 Markets with Greater Weighting to Unsecured Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 PERU 1.9x 592¹ 1,116 2,436 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 COLOMBIA 1.5x 5371 785 1,552 1,338 Q3/19 Q4/19 Q1/20' Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 939 1,290 1,322 1,152 738 970 Impaired Avg. 825 bps 531 471 439 361 Impaired Avg. 532 bps 545 473 471 579 1,065 542 143 764 726 491 361 377 420 406 245 385 470 395 424 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 PCL as a % of avg. net loans (bps) Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 PCLs on Impaired Loans as a % of avg. net loans (bps) Higher impaired PCLs in Peru and Colombia are driven by the expiry of deferral programs and the higher unsecured balances. This has been appropriately provided for in prior quarters. Average Impaired PCL % (Q3/19-02/21) Loan Balances Q2/21 Mexico Peru Chile Colombia Caribbean & CA Total³ Secured ($B) $10 $3 $21 $2 $8 $45 Unsecured ($B) $2 $5 $5 $4 $3 $19 Spot Total ($B) $12 $8 $26 $6 $11 $64 1 PCL excludes impact of additional pessimistic scenario 2 Excludes impact of divested operations 3 Total includes other smaller portfolios 45#46Sectors Most Impacted by COVID-191 Most Impacted Sectors as a % of Total Loans Canada C&CA 9% Real Estate: Office and Retail Mexico 3% 4.7% 4.1% 57% $B %IG 4.0% 4.0% 3.6% U.S. 7% $8.8B Office REIT 1.1 70% Other 11% (1.4% of total loans) Office Real Estate 3.7 52% Retail REIT 1.0 100% 1% Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Europe 13% Retail Real Estate 2.9 43% Latin America Europe Canada Total² 8.8 57% Other 1% 30% 9% Hospitality and Leisure Total Loans $630.5B Energy - E&P and Oilfield Services: 1.1% Real Estate Office $B %IG $4.6B Hotels 3.6 17% = (0.7% of total loans) 18% C&CA Cruise Lines 0.3 0% and Retail: 1.4% 29% Transportation - Air U.S. 4% Gaming 0.7 0% Travel: 0.4% 9% Latin America Total² 4.6 13% Hospitality and Mexico Leisure: 0.7% Mexico Canada Transportation: 16% Latin America 8% Air Travel 6% $B %IG Total COVID-19 High Impact: 3.6% C&CA 8% $2.2B Aircraft Finance 0.7 98% (0.4% of total loans) Airlines 0.3 4% 47% 15% Other Airports 1.2 48% Europe Total² $2.2 59% 46 1 Sectors which have experienced the greatest disruption in normal business activities and impact to revenue due to the COVID-19 pandemic (including, but not limited to, government-mandated closures) relative to other sectors 2 May not add due to rounding#47Treasury and Funding 47#48Highlights Strong liquidity, stable funding • Liquidity well in excess of regulatory requirements o LCR of 129%, flat Q/Q and -3% Y/Y o HQLA of $201B, -$12B Q/Q and +$13B Y/Y, is substantially comprised of Level 1 assets o Pacific Alliance countries LCRs of 146% - 173% • Stability of funding reflected in NSFR of 112% ⚫ 24.2% TLAC is above 22.5% regulatory minimum required by November 1, 2021 Wholesale funding metrics are favourable o Wholesale funding of $193B, down $4B Q/Q and $68B Y/Y o Wholesale funding / total assets increased modestly Q/Q to 17.1% from 16.9% o Deposit retention and muted asset growth mitigating requirement for wholesale funding 48#49Funding Strategy Diversified funding sources . Increase contribution from customer deposits Continue to reduce wholesale funding utilization while building TLAC Maintain balance between efficiency, stability of funding and pricing relative to peers Diversify funding by type, currency, program, tenor and source/market • Utilize a centralized (head office managed) funding and associated risk management approach 1 In addition to the programs listed, there are also CD programs in the following currencies: Yankee/USD, EUR, GBP, AUD, HKD Funding Programs¹ US Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit USD 40 billion Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 billion EMTN Shelf Limit USD 20 billion CAD Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit CAD 15 billion START ABS program (indirect auto loans) Limit CAD 15 billion Australian MTN program Limit AUD 8 billion Singapore MTN program Limit - USD 12 billion Halifax ABS shelf (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit CAD 6 billion Trillium ABS shelf (credit cards) Limit - CAD 5 billion USD Bank CP Program Limit USD 35 billion 49#50Wholesale Funding Wholesale funding diversity by instrument and maturity1,6,7 22% Senior Notes 18% Bail-inable Notes 1% Asset-Backed Securities Asset-Backed Commercial Paper³ 2% 24% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate of Deposits $193B 2%- Deposits from Banks2 TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $22 13% $21 $21 4 Covered Bonds 7 7 14% Mortgage Securitization4 4% Subordinated Debt 13 $11 18 3 14 14 $6 7 4 $23 3 20 20 < 1 Year 2 Years 3 Years 4 Years 5 Years 5 Years > Senior Debt ABS Covered Bonds 1 Excludes repo transactions and bankers acceptances, which are disclosed in the contractual maturities table in the MD&A of the Interim Consolidated Financial Statements. Amounts are based on remaining term to maturity. 2 Only includes commercial bank deposits raised by Group Treasury. 3 Excludes asset-backed commercial paper (ABCP) issued by certain ABCP conduits that are not consolidated for financial reporting purposes. 4 Represents residential mortgages funded through Canadian Federal Government agency sponsored programs. Funding accessed through such programs does not impact the funding capacity of the Bank in its own name. 5 Although subordinated debentures are a component of regulatory capital, they are included in this table in accordance with EDTF recommended disclosures. 6 As per Wholesale Funding Sources Table in MD&A, as of Q2/21. 7 May not add to 100% due to rounding. 50 50#51Q2/18 Q3/18 Q2/18 Q3/18 Q4/18 Q1/19 PERSONAL DEPOSITS (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) Deposit Overview Strong growth in business and government deposits $204 $215 $225 $225 $235 $246 $247 • $244 $250 $211 $222 $223 $224 Q2/19 Q3/19 BUSINESS & GOVERNMENT DEPOSITS1 (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) Q4/19 Q1/20 Q2/20 Q3/20 $285 $274 $263 $223 $288 $211 $270 $197 $168 $221 $227 $179 $197 3Y CAGR 19.2% Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q4/20 3Y CAGR 6.5% Q1/21 Q2/21 1 Calculated as Business & Government deposits less wholesale funding as per Wholesale Funding Sources table in the MD&A, adjusted for Sub Debt. Excludes Financial Institution deposits. 51 PERSONAL DEPOSITS Important for both relationship purposes and regulatory value • BUSINESS & GOVERNMENT Continuing to leverage relationships to grow deposits • Focusing on deposits with regulatory value#52Q2/18 Q3/18 Q4/18 38.3% Q1/19 Q2/18 Q3/18 Q4/18 Wholesale Funding Utilization Historically low reliance on wholesale funding WHOLESALE FUNDING / TOTAL ASSETS 25.1% 22.9% 20.9% WHOLESALE FUNDING UTILIZATION WELL MANAGED Deposit retention and muted asset growth mitigating wholesale funding requirement Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING Q2/19 36.6% 38.7% Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 27.4% Q2/21 17.1% MONEY MARKET FUNDING CONTINUES TO BE SUBDUED Prudent utilization of short-term funding 52 62#53• Key Metrics Well funded Bank with very strong liquidity and stable funding Liquidity Coverage Ratio (LCR) o Liquidity well in excess of regulatory requirements o LCR of 146-173% in Pacific Alliance countries 141% 138% 132% 129% 129% 125% 123% 125% 127% Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 • High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets o Moderating from high levels Q/Q: -$12B Q/Q and +$13B Y/Y $227 $210 $213 $201 $188 $158 $160 $165 $168 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 ⚫ Net Stable Funding Ratio (NSFR) o Public disclosure started Q1/21 o NSFR is well in excess of 100% regulatory requirement 115% 112% Q1/21 Q2/21 53#54Appendix 1 Core Markets: Economic Profiles#55Economic Outlook in Core Markets Real GDP Growth Forecast (2021-2022) Real GDP (Annual % Change) Forecast 1,2 Country 2010-19 Average 2020 2021 2022 Q1E Q2F Q3F Q4F Year Q1F Q2F Q3F Q4F Year Canada 2.2 -5.4 0.2 14.0 6.8 5.6 6.4 5.0 5.0 3.5 3.1 4.1 U.S. 2.3 -3.5 0.3 12.3 7.0 7.5 6.6 6.8 5.3 3.3 2.1 4.3 Mexico 2.7 -8.2 -3.8 15.9 4.7 2.9 4.9 2.7 3.3 1.4 1.2 2.2 Peru 4.5 -11.1 3.2 30.1 5.3 2.2 8.7 1.4 5.9 5.0 3.7 4.0 Chile 3.3 -5.8 0.3 17.1 10.8 4.0 7.5 3.8 3.2 3.1 4.0 3.5 Colombia 3.7 -6.8 1.1 12.1 5.7 1.1 5.0 4.2 3.9 3.8 4.2 4.0 PAC Average³ 3.6 -8.0 0.2 18.8 6.6 2.6 6.5 3.0 44 4.1 3.3 3.3 3.4 Source: Scotiabank Economics 1 Forecasts for Canada and U.S. as of the April 22, 2021 - Scotiabank Global Forecast Tables 2 Forecasts for PAC countries as of the May 21, 2021 - Scotiabank Latam Weekly 3 Simple average 55#56COVID-19 Response in Core Markets United Canada Mexico Peru Chile Colombia Policy Action States Policy Rate Cuts¹ 150 bps 150 bps 300 bps 200 bps 125 bps 250 bps (Since March 1, 2020) Fiscal & Financial Measures 17.5% 22.3% 0.7% 20.0%2 17.5%² 2.8% (% of GDP) Liquidity program Wage and payroll Selected support programs Key Payment deferral Measures programs Small business and sectoral programs Vaccine Coverage³ 794% 416% 123% 173% 253% 60% (% of possible population covered) Vaccine Deployment4 44.79 79.14 17.05 6.86 84.99 13.46 (Vaccine doses administered per 100 people) COVID-19 Incidence Rate4 (Cumulative confirmed cases per 100k people) 3,483 9,914 1,839 5,658 6,594 5,992 Sources: Scotiabank Economics, Duke University, Johns Hopkins University, Our World in Data and national reports as of May 12, 2021, unless otherwise indicated 1 As of May 12, 2021 2 Includes pension withdrawals and deposit relief 3 Internationally comparable Duke University data adjusted for national reports; excludes doses via COVAX 4 As of May 12, 2021 Source: Our World in Data 56#57Pacific Alliance: Economic Outlook and Election Calendar GDP Recovering in Pacific Alliance 105 index Q4-2019-100, 4-qtr. rolling sum 100 95 95 00 90 85 2020 Chile Colombia 2021 Sources: Scotiabank Economics, Haver Analytics. Forecasts for PAC countries as of the May 21, 2021 Latam Weekly. Presidential Runoff Chamber of Deputies, Governs. & Local Mexico Peru 2022 Elections in the Region Pres., Leg. & Reg. Advisory - Primary Pres., Leg. & Reg. Advisory General Presidential Runoff Proposed Const. Ratification Vote Regional & Municipal Presidential & Legislative Jun. 2021 Jul. 2021 Nov. 2021 Dec. 2021 2022 57 57#58Canadian Economy Diverse sources of growth with a strong balance sheet 21.1% Finance, Insurance, & Real Estate 14.2% Other 3.6% Transportation & Warehousing 6.3% Professional, Scientific, & Technical Services 6.9% CANADIAN GDP BY INDUSTRY (Feb. 2021) Public Administration GDP Growth 2021F: 6.4% -12.6% Real GDP Growth Health & Education 10.7% Wholesale & Retail Trade 7.4% 9.6% Manufacturing 7.6% Mining and Oil & Gas Extraction Construction GDP Growth 2022F: 4.1% 3 N ANNUAL % CHANGE C U.S. ILLL Canada Eurozone 2020e-2022f U.K. Japan 2010-2019 Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Apr 22, 2021. General Government Net Debt in 2020 % OF GDP 91 50 33 Government Financial Deficits in 2020 0 (4.2) -5 (9.5) (9.9) -10 (11.7) (12.6) (13.4) 169 (15.8) 142 (16.1) -15 546 103 104 94 |-20 24 % OF GDP -25 GE IT FR France Italy Japan Adv. Econ. JN U.K. U.S. CA* Canada Germany OECD U.K. U.S. Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2021). * Canadian federal deficit reflects Scotiabank Economics' forecast as of Apr 22, 2021. Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2021 estimates), CBO. 58#59Mexican Economy Solid mix of sectors Manufacturing and primary produces have so far led the recovery, but into H2-2021 services are expected to contribute more strongly. Trade with the U.S. is leading growth, but Mexico's diversification agenda is also underpinned by 14 free-trade agreements with 46 countries that account for 39% of global GDP and include all G7 countries Authorities' fiscal and debt indicators remain sound, and a fiscal reform is expected to be presented over the coming 12 mo. GDP Growth 2021F: 4.9% GDP Growth 2022F: 2.1% 16.6% Finance, Insurance, & Real Estate 15.4% Other 3.5% Natural Resources 5.7% Transportation & Warehousing 6.1% Health & Education MEXICAN GDP BY INDUSTRY* (Q4 2020) 1.8% Professional, Scientific, & Technical Services 4.1% Public Administration 17.9% Wholesale & Retail Trade 16.4% Manufacturing 6.4% Mining and Oil & Gas Extraction 6.0% Construction * Q1-2021 real GDP growth -3.1% y/y. Industry GDP breakdown not yet available for Q1-2021. Top 5 Trading Partners* Contributions to Mexican GDP Growth 8 6 y/y % change 4 2 0 -2 -4 -6 -8 -10 Other* -12 Investment Net Exports Government Inventories Consumption -14 Real GDP -16 -18 -20 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. Others 20% South Korea 2% Germany 3% United States Canada 4% China 11% * Trade data updated as of Q4-2020 59% 59 59#60Peruvian Economy Resilient economic fundamentals 12.1% Mining, Oil, & Gas 7.8% Construction 1.9% Electricity & Water 4.9% Natural Resources Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 17 free-trade agreements with 49 countries that account for 66% of global GDP Public investment and private capital spending are recovering and are set to support growth in 2021; 95% of activity has re-opened 13.5% Manufacturing 9.3% Finance, Insurance, & Real Estate PERUVIAN GDP BY INDUSTRY (Q4 2020) 20.2% GDP Growth 2021F: 8.7% GDP Growth 2022F: 4.0% Contributions to Peruvian GDP Growth 10 y/y % change 5 0 -5 -10 -15 -20 -25 -30 Net Exports Investment Consumption -35 17 18 19 Sources: Scotiabank Economics, Haver Analytics. Inventories Government Real GDP 20 20 30.4% Other Transportation & Warehousing Top 5 Trading Partners* Others 46% China 24% United States South Japan Korea 4% 4% Canada 5% 17% * Trade data updated as of Q4-2020 60 60#61Chilean Economy Advanced economy with wide-ranging trade links • Chile's mix of economic activities reflects its status as an advanced OECD economy Chile's diversified trading relationships are supported by 25 free-trade agreements with 60 countries that account for 74.6% of global GDP. Public support for households and businesses has powered a strong rebound in consumption GDP Growth 2022F: 3.5% GDP Growth 2021F: 7.5% Contributions to Chilean GDP Growth 10 y/y % change 5 15.3% Finance, Insurance, & Real Estate 8.9% Other 1.5% Restaurants & Hotels 8.3% Transportation & Warehousing 3.4% Natural Resources CHILEAN GDP BY INDUSTRY (Q1 2021) 19.2% Housing & Personal Services 10.1% Wholesale & Retail Trade 10.4% Manufacturing 12.5% Mining and Oil & Gas Extraction 5.7% Construction 4.8% Public Administration Top 5 Trading Partners* 0 -5 -10 Net Exports -15 Investment -20 Consumption -25 17 18 Sources: Scotiabank Economics, Haver Analytics. 19 Inventories Government Real GDP 20 20 Others 36% China 35% South Korea 3% Japan 5% Brazil United States 6% 14% 61 * Trade data updated as of Q4-2020#62Colombian Economy Strong underlying momentum • The 'new normal' re-opening scheme has led to reactivation of 95% of the economy Colombia continues to build on its 12 free-trade agreements with 46 countries that account for 41.1% of global GDP Services and consumption, reflecting an expanding middle class, account for rising shares of Colombian GDP compared with traditional strengths in extractive industries GDP Growth 2021F: 5.0% GDP Growth 2022F: 4.0% 14.2% Finance, Insurance, & Real Estate 9.5% Other 6.5% Natural Resources 2.8% Information & Communication 2.9% Arts & Entertainment COLOMBIAN GDP BY INDUSTRY (Q1 2021) 7.0% Professional, Scientific, & Technical Services 16.8% Wholesale, Retail Trade, Accommodation & Food Services 15.4% 12.3% Manufacturing 7.1% Mining and Oil & Gas Extraction 5.4% Construction Public Administration Top 5 Trading Partners* Contributions to Colombian GDP Growth 8 y/y % change 3 -2 -7 Other* -12 Government Net Exports Consumption Investment Real GDP -17 -22 17 18 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 19 20 20 United States Others 28% 42% China India 3% 17% Brazil Mexico 5% 5% * Trade data updated as of Q4-2020 62 62#63Appendix 2 Canadian Economic Fundamentals#64Consumer and Business Activity Business Confidence - CFIB Business Barometer 80 180 index, 50 stronger 160 140 70 3-month moving 120 average 100 60 80 60 50 40 20 40 40 30 20 20 11 12 13 14 Sources: Scotiabank Economics, CFIB. mn, saar units 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 Headline index 6-month moving average 15 16 17 18 19 20 21 Canada Auto Sales Key Economic Indicators index, Feb 2020 levels = 100 Jul-20 Feb-20 Mar-20 Apr-20 Auto Sales Mfg Shipments Exports May-20 Jun-20 Aug-20 Housing Starts Retail Sales Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Sources: Scotiabank Economics, Bloomberg. Canada Real Retail Sales 120 Feb 2020-100 110 100 90 90 80 70 70 Apr-21 Employment Manufacturing PMI 0.4 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 60 Sources: Scotiabank Economics, DesRosiers Automotive Consultants Inc. Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Sources: Scotiabank Economics, Statistics Canada. Apr-20 Jul-20 Oct-20 Jan-21 64#65Housing Market Population Growth 2.0 annual % change Canada Euro Area Japan France United States 0.90 United Kingdom Italy 0.80 1.5 0.70 1.0 0.5 0.0 0.60 0.50 0.40 Housing Market Supply Conditions Ratio of total home completions on 18- month rolling basis relative to population change 1984-present avg. 84 87 90 93 96 99 02 05 Sources: Scotiabank Economics, Statistics Canada. 0.30 -0.5 08 09 10 11 12 13 14 Sources: Scotiabank Economics. 15 16 17 18 19 20 21 100 80 50 8 2 2 2 2 0 0 Housing: Sales-to-Listings Ratio sa sales-to-new listings ratio, % 08 11 14 17 20 Government Support of Households 2.5 arrears rate, % 2.0 1.5 1.0 0.5 55 Hypothetical arrears rate on mortgages simulated by BoC for 19% fall in GDP in 2020 Arrears without existing household support measures Arrears with existing support measures 21 22 Sources: Scotiabank Economics, Bank of Canada Financial System Review. 0.0 20 88 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, CREA. 65 55#66Growth in Household Credit • Total household credit, in annual nominal terms, has slowed considerably since the 2007 peak of 13.4% y/y. However, the Q4-2020 growth of 4.9% y/y surpassed the average of the previous four quarters • Consumer loans excluding mortgages (i.e., cards, HELOCS, unsecured lines, auto loans, etc.) fell by 1.1% y/y in Q4-2020. Consumer loan growth has trended downward since late-2000 highs of over 16% y/y, with recent months' negative growth induced by consumer spending pullbacks Mortgage credit grew at 7.1% y/y in Q4-2020 vs the 2007 peak of 13.7% y/y. Underlying demand. coupled with lower five-year rates drove a rebound in the pace of growth 20 20 Household Credit Growth [%, 3-month moving average 15 yly% change 10 10 m/m% 5 change, SA T 01 03 05 07 09 11 13 15 Sources: Scotiabank Economics, Statistics Canada. 15 10 2205 0 Consumer Loan Growth -5 -10 %, 3-month moving average y/y % change Residential Mortgage Growth 20 %, 3-month moving average 15 yly% change 10 m/m% change, SA 5 m/m% change, SA -15 0 17 19 21 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. 66 99#67Appendix 3 Bail-in and TLAC#68Canadian Bail-in Regulations: Key Features Best in class approach Post September 23, 2018, senior unsecured debt issued by Canadian DSIBS that is subject to bail-in is the only format of issuance available¹ and is a single class of debt2 that is not subordinated to another class of wholesale senior debt • Canadian bank term senior unsecured debt is not structurally, statutorily or contractually subordinated to another class of senior liabilities and therefore ranks equally to deposits and other senior liabilities in liquidation Canada utilizes a statutory bail-in regime where, unlike the contractual regime of Canadian NVCC capital instruments, bail-in conversion terms are not prescribed. CDIC retains flexibility to exercise the bail-in power in a manner that is appropriate given the circumstances at the time and subject to certain parameters In the remote event of non-viability, the no creditor worse off principle ensures that bailed-in senior creditors do not incur greater losses through resolution than liquidation. The CDIC compensation regime floors recovery at the liquidation value • The bail-in regime provides for a relative hierarchy of claims. Creditors receive common shares in accordance with their relative rankings 1 Excludes structured notes as defined in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act 2 Ranks pari passu with other forms of senior debt, except as otherwise prescribed by law and subject to the exercise of bank resolution powers 68 880#69Canadian Bail-in Regulations: Jurisdictional Comparison Best in class approach K Instrument type Opco senior Holdco senior Holdco senior¹ Holdco senior Ranking in Liquidation Pari passu with deposits and other senior liabilities Structural subordination² Structural subordination² Structural subordination² Other Senior debt Deposits senior liabilities subject to Subordination schematic bail-in Capital Deposits Opco non- preferred senior Contractual subordination² Opco senior/senior preferred / other senior liabilities Holdco senior / senior non-preferred Capital Depositor preference No Yes Yes Yes Yes Participation in equity post resolution Conversion to equity of the bank or an affiliate allows participation in the upside, if any³ N/A4 Uncertain given possibility of writedown Uncertain given possibility of writedown Uncertain given possibility of writedown Acceleration rights upon failure to pay Yes principal and interest 1Applicable in practice for G-SIBS' issuance of non-capital bail-in debt Yes Yes Yes No5 2 Approach applicable to G-SIBS in relevant jurisdictions. Additionally, Switzerland uses structural subordination, Germany uses statutory subordination, Spain uses contractual subordination 3 Assuming only bail-in is triggered. If other resolution powers are exercised, debt holders could be exposed to losses in a manner similar to a write-down of their claims 4 No bail-in power. In resolution, debtholders could potentially receive partial recoveries (analogous to a write-down) or have their claims satisfied through the issuance of new securities (analogous to a bail-in conversion) 5 The terms of senior non-preferred do not include acceleration rights upon failure to pay principal and interest; however, there is no statutory restriction in this regard. Once resolution proceedings are underway, holders may declare an event of default for failure to meet payment obligations 69#70Summary of Bail-in / TLAC Regime Best in class approach . • Scope Scope of bail-in instruments Liabilities excluded from bail-in TLAC compliance date TLAC requirement TLAC eligibility Grandfathering Sequencing and preconditions Form of bail-in DSIB disclosure requirements OSFI designated DSIBS Senior unsecured debt that is tradeable and transferable, original term >400 days, unsecured and issued, originated or renegotiated after September 23, 2018 Insured deposits, uninsured deposits, debt with original term < 400 days, ABS / covered bonds, structured notes², derivative liabilities, other liabilities November 1, 2021 22.5% minimum risk-based TLAC ratio (21.5% plus a 1.0% Domestic Stability Buffer) 6.75% minimum TLAC leverage ratio Regulatory capital³ + bail-in debt with remaining term to maturity > 1 year4 Yes - all senior instruments issued prior to September 23, 2018 1. Federal authorities bring bank into resolution 2. Full conversion of bank's NVCC instruments must occur prior to or concurrently with bail-in Equity conversion - Include disclosure related to the conversion power in any agreement governing an eligible liability as well as any accompanying offering document - Include a clause in the contractual provisions governing any eligible liability through which investors provide express submission to the Canadian bail-in regime - Provide disclosure of TLAC ratios beginning Q1 2019 Bail-in is not the only path in Canada to resolve a failing bank. Canadian authorities retain full discretion to use other powers including "vesting order", "receivership order", "bridge bank resolution order", etc. Equity conversion under the Canadian bail-in regime has the potential to result in realizable value in excess of principal amount 1Yankee CD's with original term > 400 days are in-scope of bail-in 2 As per definition of structured notes in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act 3 Adjusted to fully include subordinated debentures with a remaining term of one to five years 4 Provided such bail-in debt meets certain other requirements 70 10#71Appendix 4 Covered Bonds#72Global Registered Covered Bond Program Highlights • Able to issue across multiple currencies such as USD, EUR, GBP, AUD and CHF • ⚫ CAD$41.4 billion outstanding1 (of which $15 billion is self-issued) vs. $100 billion program size² • Extensive regulatory oversight and pool audit requirements • Mandatory property value indexation ⚫ CMHC prescribed disclosure requirements Program carries the ECBC Covered Bond Label Issuer The Bank of Nova Scotia Guarantor Guarantee Status Program Size Ratings Cover Pool Asset Percentage Law Scotiabank Covered Bond Guarantor Limited Partnership Payments of interest and principal in respect of the covered bonds are irrevocably guaranteed by the Guarantor. The obligations under the Covered Bond Guarantee constitute direct obligations of the Issuer and are secured by the assets of the Guarantor, including the Portfolio. The covered bonds will constitute legal, valid and binding direct, unconditional, unsubordinated and unsecured obligations of the Bank and will rank pari passu with all deposit liabilities of the Bank without any preference among themselves and at least pari passu with all other unsubordinated and unsecured obligations of the Bank, present and future. CAD $100 billion² Aaa / AAA / AAA (Moody's / Fitch / DBRS) First lien uninsured Canadian residential mortgage loans with LTV limit of 80% 94.8% Ontario, Canada 144A/Reg S (UKLA Listed) Issuance Format 1 As at April 29, 2021. 2 Effective April 6, 2021, OSFI limit for issuance is 5.5% of Total Assets. 72 12#73Global Registered Covered Bond Program¹ Portfolio Summary Statistics LOAN-TO-VALUE RATIOS² CREDIT SCORES³ 41% 33% 21% 4% 63% 1% 5% 18% 1% 2% 11% 0-20% 20-40% 40-60% 60-80% 80+% <599 600-650 651-700 701-750 751-800 800+ REMAINING TERM DISTRIBUTION (MONTHS) 12% 24% 20% 21% 13% 10% 9.5% Alberta 0.2% Territories 2.0% Saskatchewan 0.9% Quebec <12 12-23.99 24-35.99 36-41.99 42-47.99 48+ 0.2% P.E.I. PROVINCIAL DISTRIBUTION 59.9% Ontario 1 As at April 29, 2021. Charts may not add to 100% due to rounding 2 Uses indexation methodology as outlined in Footnote 1 on page 3 of the Scotiabank Global Registered Covered Bond Monthly Investor Report 3 Excludes unavailable credit scores 22.1% 1.2% Manitoba British Columbia 1.7% 0.9% New Brunswick 1.3% Newfoundland Nova Scotia 73#74Canadian Legislative Covered Bonds (CMHC Registered) . Canadian Registered Covered Bond Programs' Legal Framework (Canadian National Housing Act) Issuance Framework • Canadian Registered Covered Bond Programs Guide issued by Canada Mortgage and Housing Corporation (CMHC) Eligible Assets Mortgage LTV Limits • Uninsured loans secured by residential property in Canada • LTV limit of 80% • Basis for Valuation of Mortgage Collateral . Substitute Assets • Substitute Assets Limitation Cash Restriction . Issuers are required to index the value of the property underlying mortgage loans in the covered pool while performing various tests Securities issued by the Government of Canada Repos of Government of Canada securities having terms acceptable to CMHC 10% of the aggregate value of (a) the loans (b) any Substitute Assets and (c) all cash held by the Guarantor The cash assets of the Guarantor cannot exceed the Guarantor's payment obligations for the immediately succeeding six months • Coverage Test Asset coverage Test • Credit Enhancement • Swaps • Market Risk Reporting Covered Bond Supervisory Body Requirement to Register Issuer and Program Amortization Test Overcollateralization Reserve Fund Covered bond swap, forward starting Interest rate swap, forward starting Valuation calculation Mandatory property value indexation • CMHC • Yes; prior to first issuance of the covered bond program Registry • Yes Disclosure Requirements • Monthly investor report with prescribed disclosure requirements set out by CMHC Investor reports must be posted on the program website 74#75Appendix 5 Additional Information#76Medium-Term Financial Objectives All-Bank Objectives¹ EPS Growth 7%+ ROE 14%+ Operating Leverage 13-5 year targets from 2020 Investor Day Capital Positive Strong Levels 16 76#77Digital Progress: Canada Digital Adoption (%)¹ 55% 55% 46% 50% +4% +300 bps Active Digital 3,329 3,599 3,847 3,791 3,960 Users (#'000) +19% 58% +1,200 bps 2018 2019 2020 Q2/20 Q2/21 +13% 2018 2019 2020 Q2/20 Q2/21 Active Mobile Users (#'000) 3,073 2,396 2,666 2,872 3,242 Digital Sales (%) +35% +100 bps 26% 26% 25% 26% +66 bps 16% 2018 2019 2020 Q2/20 Q2/21 Definitions 2018 2019 2020 Q2/20 Q2/21 +400 bps Self-Serve Transactions 84% 87% 92% 89% 93% +900 bps (%) 2018 2019 2020 Q2/20 Q2/21 Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 1CB Digital Adoption definition was updated in Q1/21 to reflect addressable customer base, excluding indirect-channel acquisitions 77#78Digital Progress: Pacific Alliance Digital Adoption (%) +12% Active Digital 3,677 3,716 3,307 +900 bps Users (#'000) 2,717 1,947 49% 46% 40% 35% 26% +2,300 bps +91% 2018 2019 2020 Q2/20 Q2/21 +22% 2018 2019 2020 Q2/20 Q2/21 Active Mobile Users (#'000)1 2,830 2,978 2,434 Digital Sales (%) 1,847 1,163 +156% 51% 39% 29% +3,500 bps 19% +1,500 bps 54% 2018 2019 2020 Q2/20 Q2/21 +600 bps Self-Serve Transactions 86% 69% 73% 80% 86% (%)² +1,700 bps 2018 2019 2020 Q2/20 Q2/21 2018 2019 2020 Q2/20 Q2/21 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption (% of customers with Digital login (90 days) Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR, POS 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 2 Prior periods from 2018 to 2020 have been restated in Q2/21 to align with current methodology 78#79Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Common Share Issue Information: • CUSIP: • ISIN: FIGI: . 064149107 CA0641491075 BBGOOOBXSXH3 NAICS: 522110 Scotiabank Credit Ratings Moody's Investors Standard & Poor's Fitch Ratings Services Dominion Bond Rating Service Ltd. Aa2 A+ AA Legacy Senior Debt¹ Senior Debt² Subordinated Debt (NVCC) Baa1 BBB+ Short Term Deposits/Commercial Paper P-1 Covered Bond Program Aaa Not Rated AA A2 A- AA- AA (low) A (low) A-1 F1+ R-1 (high) AAA AAA Outlook Stable Stable Negative Stable Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime 2 Subject to conversion under the bank recapitalization "bail-in" regime 79#80Contact Information Investor Relations Sophia Saeed Vice President 416-933-8869 [email protected] Mark Michalski Director 416-866-6905 [email protected] Rene Lo Director 416-866-6124 [email protected] Funding Tom McGuire Executive Vice President & Group Treasurer 416-860-1688 [email protected] Christy Bunker SVP, CB & GWM Treasurer, Term Funding and Capital management 416-933-7974 [email protected] 80