#1Investor Presentation February 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: Additional Information Contact Information + 19 24 32 36 39 46 46 53 62 62 99 66 71 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 February 22, 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 Change Scotiabank2 Q1/21 Y/Y Revenue Net Income Return on Equity $8,072MM +3% $2,418MM +6% 14.4% +50 bps Operating Leverage +3.4% n.a. Productivity Ratio 51.8% (160 bps) Total Assets $1.2T +1% CET1 Ratio 12.2% +80 bps Ranking by Market Share³ Wholesale Operations Canada #3 USMCA USA UK USA Mexico Top 10 FBO #5 Pacific Alliance Peru #3 Singapore Australia Countries Chile (PAC) #4 Ireland Colombia #6 Hong Kong SAR China Brazil Malaysia Earnings by Market2,4 India Japan 1 Ranking by asset as at February 18, 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 December 2020 in Mexico, Peru and Chile, as of November 2020 in Colombia, as of October 2020 in Canada for publicly traded banks; 4 Adjusted net income attributable to equity holders of the Bank for the 3 months ended January 31, 2021 -Other C&CA 3%3% PAC 17% 7% U.S.A Canada 70% 5#6Well-Diversified Business with Strong Returns Earnings by Business Line 1,2 Wealth Management 19% Global Wealth Management Earnings by Market1,2,4 Colombia Asia 1% Europe 1% Caribbean and 2% Central America C&CA Peru 3% 4% 19% Canadian Banking Personal & Commercial Chile 6% Mexico P&C Q1/21 Banking 6% 40% EARNINGS MIX 57% Global Wholesale Banking $2.3B³ U.S. 7% Q1/21 EARNINGS MIX Canada 24% Banking and Markets 24% $2.3B³ 70% Adjusted Return on Equity 1,2 by Business Line International Banking P&C 17% 21.6% 15.0% 14.9% 13.1% 11.6% 22.0% 17.9% 17.3% 14.4% 8.7% International Banking Global Wealth Management Global Banking and Markets All Bank 3-year average ROE Canadian Banking 1Net income attributable to equity holders for the 3 months ended January 31, 2021; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset; 3 Excludes Other segment; 4 Earnings from Brazil and Other net to nil 6#7Business Lines (Q1/21 Results) Activity Personal & Commercial Banking Wealth Management Capital Markets Business Line Products Canadian Banking Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards International Banking • Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards Global Wealth Management • Asset Management • Private Banking • Private Investment Counsel Brokerage • Trust Global Banking and Markets Corporate Banking • Advisory Equities Fixed Income Foreign Exchange • Commodities NIAEH¹ ($MM) $915 $398 $425 $543 % All-Bank¹ 40% 17% 19% 24% % Target 35-40% 25-30% ~15% 15-20% Productivity 45.3% 54.2% 58.1% 46.0% Ratio¹ ROE1 22.0% 8.7% 17.9% 17.3% Total Assets² ($B) $368.3 $199.4 $27.5 $395.2 Employees³ 17,185 45,878 7,093 2,097 1 Adjusted figures for the 3 months ended January 31, 2021 2 Average balance for the 3 months ended January 31, 2021 3 As at January 31, 2021 7#8Why Invest in Scotiabank? , Leading bank in the Americas • • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia ~94% 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 • Strong Canadian risk management culture with strong capabilities in AML and cybersecurity Focus on secured and investment-grade lending • $7.8 billion in allowances as of Q1/21 Acceleration in Digital Banking • Increased Digital Adoption to 51% in Q1/21 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 20% Higher Banking ROEs in Canada and Latam (Latest Reporting Period) 15.3% 14.3% 15% 11.0% 12.4% 10.0% 10% 10.2% 3-year average ROE 9.6% 5.6% 7.2% 5% 0% Canada Latam Asia >85% of All-Bank earnings 2.5% S US Europe Return on equity based on latest reporting period as of February 19, 2021 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#10Q1 2021 Financial Performance $MM, except EPS Q1/21 Y/Y Q/Q Reported Net Income $2,398 3% 26% Pre-Tax, Pre Provision Profit $3,864 4% 12% • Diluted EPS $1.86 1% 31% Revenue $8,072 (1%) 8% • Expenses $4,208 (5%) 4% Productivity Ratio 52.1% (220 bps) (200 bps) Core Banking Margin 2.27% (18 bps) 5 bps PCL Ratio¹ 49 bps (12 bps) (24 bps) PCL Ratio on Impaired Loans¹ 49 bps (6 bps) (5 bps) Adjusted² Net Income $2,418 3% 25% Pre-Tax, Pre Provision Profit $3,892 5% 11% Diluted EPS $1.88 3% 30% Revenue $8,072 1% 8% Expenses $4,180 (2%) 4% • Productivity Ratio 51.8% (160 bps) PCL Ratio1 49 bps PCL Ratio on Impaired Loans¹ 49 bps (2 bps) (4 bps) (150 bps) (24 bps) • (5 bps) ADJUSTED NET INCOME² YEAR-OVER-YEAR ($MM) YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS² +3% (+30% Q/Q) Adjusted pre-tax, pre-provision profit² +5% (+11% Q/Q) Adjusted revenue² +1% (+8% Q/Q) o Net interest income² down 1%, or up 1% ex. divestitures o Non-interest income² up 3%, or 5% ex. divestitures Core banking margin -18 bps (+5 bps Q/Q) o Driven by higher liquid assets, lower margins in both International Banking and Canadian Banking, and changes in business mix o Q/Q improvement driven by higher contribution from asset/liability management activities and higher margins in Global Banking and Markets and International Banking Adjusted expenses² -2%; Operating leverage of +3% Strong ROE of 14.4% ADJUSTED NET INCOME 2,3 BY BUSINESS SEGMENT ($MM) 85 124 7 +1% (101) (41) -32%4 +34% +20% 2,344 2,418 908 915 615 398 318 425 451 543 Q1/20 NII Non interest income PCLs Non-interest expenses Taxes Q1/21 Canadian Banking International Banking Global Wealth Management Global Banking and Markets 1 Includes provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures 2 Figures on an adjusted basis Q1/20 Q1/21 3 Attributable to equity holders of the Bank 4 Y/Y growth rate is on a constant dollar basis 10#11Earnings and Dividend Growth Earnings per share (C$)1.2 2009-2019 CAGR: +8.0% 2010-2020 CAGR: +3.2% $3.31 2009 2010 2011 $5.36 2012 2013 2014 2015 2016 2017 2018 2019 2020 Dividend per share (C$) $1.96 $1.88 Q1/21 +6% CAGR Total shareholder return³ ■Scotiabank 10.3% 8.6% ■Big 5 Peers (ex. Scotiabank) 6.5% 10.3% 10.0% 9.7% 5 Year 10 Year 20 Year $3.60 $0.90 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1/21 1 Reflects adoption of IFRS in Fiscal 2011; 2 Excludes notable items for years prior to 2016. For 2016 onwards, results adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset; 3 As of January 31, 2021 11#12Strong Capital Position CET1 Ratio +10 bps +6 bps 12.2%¹ +27 bps -4 bps 11.8% Q4 2020 Reported Earnings less Dividends Organic RWA (ex. FX) Pension Remeasurement Other (Including FX) Strong Capital Levels Internal capital generation 14.6% 2.1% 1.1% Q1 2021 Reported 15.5% 15.7% 14.9% 14.0% 2.2% 2.1% 2.1% 2.1% 1.5% 1.4% 1.0% 1.5% 11.4% 10.9% Q1/20 11.3% 11.8% 12.2% Q2/20 Q3/20 Q4/20 Q1/21 CET1 Tier 1 Tier 2 1 Includes ~22 bps benefit from OSFI's partial inclusion of stage 1 and 2 ECL 12#13Scotiabank in the Pacific Alliance Chile Mexico Peru Colombia Scotiabank Market Share¹ Market Share Ranking¹ 13.8% 4th 7.8% 5th 16.2% 5.3% Pacific Alliance Total/Average 10.4% 3rd 6th n.a. Strengths All Products Auto and Mortgages All Products Credit Cards, Personal All Products Average Total Loans² (C$B) Revenue³ (C$B) $46.7 $0.5 $31.1 $21.0 $11.4 $110.3 $0.6 $0.5 $0.3 $1.9 Net Income after NCI³,4 (C$MM) $133 $130 $73 $22 $358 ROE 2,3,4 9% 16% 10% 7% 11% # of Employees 5,6 7,847 9,804 10,297 6,296 34,244 Total Deposit Growth 7,8 Total Loan Growth 7,8 Productivity Ratio4 Total PTPP Growth 4,7,8 +6% Y/Y +3% -2% Y/Y Y/Y 64% 1,097 59% 111 110 79 78 78 110 58% 1,020 120 959 12 11 11 10 9 9 58% 121 51% 51% 120 311 23 24 24 24 44 44% 43% 44 46 47 46% 309 267 36% 34% 33% 19 199 18 17 22 363 222 222 22 21 308 21 345 50 26 28 29 29 33 31 31 254 227 283 Q1/20 Q4/20 Q1/21 Q1/20 Q4/20 Q1/21 Q1/20 Q4/20 Q1/21 Q1/20 Q4/20 Q1/21 Mexico Peru Chile Colombia Mexico One Month Lag 1 Ranking based on publicly traded banks by total loans market share, as of December, 2020; except Peru and Colombia as of November, 2020 5 Employees are reported on a full-time equivalent basis 2 For the three months ended January 31, 2021 6 As of January 31, 2021 3 For the three months ended January 31, 2021, not adjusted for currency 4 Results on an adjusted basis 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 • Enhanced All-Bank Digital metrics to include Active Digital Users, Active Mobile Users and Self-Serve Transactions • Canada: Growth in digital adoption as customers use self-service channels for daily financial transactions • Pacific Alliance: Strong increase in digital sales with improvement in digital account opening process in Mexico and Chile Digital Adoption (%)¹ +43.9% 7,524 7,591 +43.1% Active Digital Users (#'000)³ 6,316 6,728 5,276 50% 51% 43% 44% 36% 2018 2019 Q1/20 Q4/20 Q1/21 2018 2019 Q1/20 Digital Sales (%) +70.1% Q4/20 Q1/21 Active Mobile 5,903 6,052 4,513 4,965 Users (#'000) 2,3 3,559 2018 2019 +93.0% Q1/20 Q4/20 Q1/21 42% +17.8% 36% 28% 30% 22% Self-Serve Transactions 74% 78% 80% 87% 87% (%)³ 2018 2019 Q1/20 Q4/20 Q1/21 2018 2019 Q1/20 Q4/20 Q1/21 1CB Digital Adoption definition updated 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 New Digital metric introduced Q1/21. Please see Appendix for additional definitions 14#15Technology Strategy Co $ • Build a strong and scalable platform foundation • Cloud-first strategy for automation and speed • Rebalance core technology spending towards modernization Maintain consistent investment in technology Investments in Technology 11.9% Tech expense 10.1% as % of revenue 7.8% $3,710 $2,430 $1,200 Tech expense (in $millions) 2010 2015 2020 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 Partnerships QED INVESTORS Georgian Partners Scale UP VENTURES V VIOLA VENTURES TEAM8 Rethinking Cyber 1 Selected proof of concepts with fintech partners • • • • • Focus Areas Proof of Concepts¹ • Credit adjudication Accessibility Natural language processing Personal financial management Customer experience and self-service Machine-learning modelling IT Modernization Fraud Anti-Money Laundering konfio Cerebri≥ Fable Tech Labs Eigen Technologies personetics wysdom H₂O Rapid API BIOCATCH Less Friction. Less Fraud. Tookitaki • 16 16#17Environmental, Social & Governance Environmental Over $28 billion mobilized to reduce the impacts of climate change out of $100 billion target by 20251 Established a dedicated ESG Equity Research Team and launched a Sustainable Finance Group within Global Banking and Markets Published inaugural Green Bond Report outlining the impact and use of proceeds from Scotiabank's US $500 million 3.5 year Green Bond issued in 2019 Implemented a Climate Change Risk Rating tool for all business banking loans as a mandatory part of credit due diligence Established multi-year partnership with the Institute for Sustainable Finance at Queen's University as part of Climate Change Centre of Excellence TCFD REFINITIV TOP 100 COMPANY 2020 Diversity and Inclusion Index Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA 1 Since November 1, 2018; 2 As of October 31, 2020 TASK FORCE O CUMATE-RELATED FINANCIAL DISCLOSURES • 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 CDP UNⒸ DRIVING SUSTAINABLE ECONONIES environment programme finance initiative GIORAL COME United Nations UN Global Compact WOMEN Governance Ranked in the top 1% of global financial institutions for Corporate Governance by the Dow Jones Sustainability Index Strengthened approach to responsible procurement and supplier diversity by joining Canadian Aboriginal and Minority Supplier Council 46% 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 Bloomberg Gender Equality Index 2021 EQUATOR PRINCIPLES PRI 17#18ESG Spotlight - Retail Banking Key focus areas 可 Housing 1 Green Vehicles ESG Investing Leadership in ESG Education Leadership in ESG Funds Leadership in EV Incentives Leadership in EV Financing Leadership in Aboriginal Banking Leadership in Newcomers Banking Recent achievements Introduced Canada's first sustainable investing tools through Scotiabank's iTrade. 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. 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 since 2019 an incentivized credit plan to purchase an electric or hybrid vehicle through CrediAuto's Green Credit Program. The program offers benefits like a preferential interest rate and an "environmentally friendly bonus" to make cleaner-running vehicles more accessible. Scotiabank is a market leader in financing electric vehicles, having financed 43% of EVs in Canada in 2020.1 Scotiabank EV units financed in Canada have grown ~800% from 2015 to 2020. We have an exclusive relationship with Polestar as well as a semi-exclusive relationship with Tesla. Units financed in Canada for Teslas have grown 2,650% since 2015. 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 Start RightⓇ permanent resident mortgage program and the Scotiabank StartRightⓇ temporary resident mortgage program help facilitate newcomers' financing of home purchases. Represents bookings from Scotiabank subvented partners only. 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 Q1/21 Y/Y Q/Q Revenue Average Reported Mix 1,2 $2.6B 33% Business Banking Business and Government Loans Credit Other Personal Adjusted Net Income³ ($MM) and NIM4 (%) Loans Loan Mix¹ $366B 12% 14% Auto 2% 9% Net Income³ $911 7% 17% Pre-Tax, Pre Provision Profit $1,444 (2%) 5% Revenue $2,648 (2%) 3% Expenses $1,204 (2%) 2% Cards PCLS $215 (33%) (35%) Productivity Ratio 45.5% (10 bps) (70 bps) 2.36% 2.33% 2.26% 2.26% 2.26% Net Interest Margin4 2.26% (10 bps) PCL Ratio5 0.23% (13 bps) (14 bps) 908 782 915 PCL Ratio on Impaired Loans5 0.23% (7 bps) (4 bps) 481 433 Adjusted³ Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Net Income³ $915 1% 17% Pre-Tax, Pre Provision Profit $1,450 (2%) 5% Medium-Term Financial Objectives NIAT Growth³ Expenses $1,198 (2%) 2% Productivity Ratio Operating Leverage Target6 5%+ <44% Positive PCLs $215 (14%) (35%) Productivity Ratio 45.3% (10 bps) (70 bps) PCL Ratio5 0.23% (5 bps) (14 bps) PCL Ratio on Impaired Loans5 0.23% (6 bps) (4 bps) 1 For the three months ended January 31, 2021; 2 Reflects the adoption of new leases accounting standards, IFRS16; 3 Adjusted Net income attributed to equity shareholders; 4 Net Interest Margin is on a reported basis; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day 20#21Loan Portfolio 82% Real Estate Secured Lending High Quality Residential Mortgage Portfolio 。 36% insured; remaining 64% uninsured has an LTV of 52%1 。 Mortgage business model is “originate to hold" 。 New originations² in Q1/21 had average LTV of 64.4% 。 Majority is freehold properties; condominiums represent approximately 15% of the portfolio • Market Leader in Auto Loans o $38.7 billion retail auto loan portfolio with 8 OEM relationships (4 exclusive) o Prime Auto and Leases (~92%) 。 Stable lending tenor with contractual terms for new originations averaging 78 months (6.5 years) with projected effective terms of 53 months (4.5 years) • Prudent Growth in Credit Cards o $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 $328B 2% Credit Cards 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 2 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of January 31, 2021; Percentages may not add to 100% due to rounding 12% Automotive 21 24#22Residential Mortgages ⚫ Four Distinct Distribution Channels: 1. Broker (~57%); 2. Branch (~20%); 3. Mobile Salesforce (~23%) and 4. eHOME FICO® Distribution - Canadian Uninsured Portfolio 1,2 Q1/20 Q4/20 Q1/21 63% Canada Average FICO Score Canada 792 GTA 795 Total Originations ($B) Uninsured LTV 11.2 16.6 16.1 64% 64% 64% GVA 793 15% 9% 10% 3% 748-788 > 788 Greater Toronto Area Total Originations ($B) Uninsured LTV Greater Vancouver Area Total Originations ($B) Uninsured LTV 3.7 5.0 5.2 63% 63% 63% 1.4 1.9 19 1.9 63% 63% 62% < 635 636 - 706 707-747 Canadian Mortgage Portfolio³: $250B (Spot balances as at Q1/21, $B) 36% $132.8 Insured $17.2 Freehold $214B (85%) Condos - $36B (15%) $115.6 $47.9 $12.6 $31.5 Total Portfolio³: $250 billion $3.8 $35.3 $27.7 Ontario BC & Territories Alberta $17.1 $15.0 Quebec $2.1 $11.2 $11.0 $0.2 $9.8 $0.7 Atlantic Provinces Manitoba & Saskatchewan % of portfolio 53.1% 19.1% 12.6% 6.8% 4.5% 3.9% 64% 1 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporation 2 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 3 Includes Wealth Management Uninsured 22 222#23Automotive Finance • Canada's leader in automotive finance • Provide personal and commercial dealer financing solutions, in partnership with seven leading global automotive manufacturers in Canada ⚫ Portfolio decreased 4.0% year-over-year¹. Personal down 2.1%, Commercial down 18.4% Commercial 12% AVERAGE Near-Prime 7% ASSET MIX Retail $43.2B1 100% Secured 81% Prime Retail Exclusive Relationships MAZDA VOLVO POLESTAR JAGUAR/LAND ROVER Semi-Exclusive Relationships* HYUNDAI 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% 77% 23% 73% 27% ૭ Asset Growth $44.4B $43.5B $42.3B $39.7B $37.1B 2016 2017 2018 2019 2020 1 For the three months ended January 31, 2021; 2 CBA data as of October 2020, includes RBC, CIBC, Canadian Western Bank, National Bank, TD, Scotiabank, Laurentian Bank; 3 Dealer Track Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for January 2021 originations; 4 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of June 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 53% Financial Results $MM Q1/21 Y/Y² Q/Q² Asia 2% Revenue Mix¹ Credit 78% Latin Cards 6% Loan Mix1 America $2.6B Auto 2% $144B 20% 12% C&CA Personal 27% Loans Reported Net Income³ $389 (21%) 54% Pre-Tax, Pre Provision Profit $1,159 (7%) 4% Revenue $2,561 (10%) 1% 3,6 Adjusted Net Income Residential Mortgages ($MM) and NIM* (%) Expenses $1,402 (11%) (2%) PCLS $525 (5%) (29%) Productivity Ratio 54.7% (100 bps) (120 bps) Net Interest Margin4 4.03% (48 bps) 6 bps 4.51% 4.28% 3.99% 3.97% 4.03% PCL Ratio5 149 bps (8 bps) (58 bps) 615 PCL Ratio Impaired Loans5 150 bps 5 bps (8 bps) 59 398 283 197 Adjusted4 556 53 197 283 398 52 1 Net Income³ $398 (32%) 47% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Ex. Divested Ops Medium-Term Financial Objectives NIAT Growth6 Divested Ops Net Income - Ex Divested Ops.³ Pre-Tax, Pre Provision Profit $398 (24%) 47% $1,172 (12%) 3% Expenses $1,389 (7%) (2%) PCLS $525 10% (29%) Target? 9%+ Productivity Ratio PCL Ratio5 54.2% 130 bps (60 bps) 149 bps 13 bps (58 bps) Productivity Ratio Operating Leverage <50% PCL Ratio Impaired Loans5 150 bps 13 bps (8 bps) Positive 1 For the 3 months ended January 31, 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 25 Interest Margin is on a reported basis; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 6 Excluding divestiture impact; 73-5 year target from 2020 Investor Day#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 Investment Grade- rated Low Debt/GDP ratios with lower fiscal deficits compared to G7 • Increasing adoption of banking services Favourable Demographics • 229 million people with median age of 30 years Strong domestic consumption • Much lower banking penetration compared to Canada Among the fastest growing smartphone markets in the world • Considerable growth in middle class 26 26#27Scotiabank in Mexico Business Overview Market Position by Loans4 Customers ~3.8MM Corporate/ 23.4% Commercial Employees ~10,100 58% Branches1 530 Loans $31.2B Average Loans $31B 29% Average $29B Deposits 2% 5% 6% Residential Mortgages Total NIAT2,5 $310MM Credit Cards 15.1% 13.2% 10.5% 7.8% 6.9% 3.8% 2.1% Auto Personal Loans ROE³ 9.1% Retail Loans 84% 16% BBVA B citibanamex 8 banregio BANORTE Productivity³ 55.1% Secured Unsecured BBVA Banorte Santander Banamex Scotiabank HSBC Bajio Regio PTPP Productivity Ratio Operating Leverage 924 738 2017 Constant currency 2018 +14% CAGR 58.6% 978 1,087 2019 2020 All figures in CAD$ including Wealth Management 1 Includes bank and wealth branches; does not include 177 Credito Familiar branches 2LTM Q1/21 3 Adjusted as Reported 4 Source: CNBV as of December 2020 5 Adjusted after NCI 55.4% 55.0% 54.4% 7.5% 6.9% 1.9% -0.9% 2017 2018 2019 2020 2017 2018 2019 2020 22 27#28Scotiabank in Peru Business Overview Market Position by Loans4 Customers¹ ~4.5MM Corporate/ Commercial Employees¹ ~10,800 57% Branches1 308 33.1% 13% Loans $21.3B Residential Mortgages Average Loans $21B 21.1% 16.2% 12.7% Average 0% 19% $17B Deposits Auto 3% 8% Personal Loans Total NIAT 2,5 $281MM Other Credit Cards ROE³ 8.3% Retail 37% 63% BCP BCP BBVA BBVA Scotia Interbank Loans Secured Unsecured Productivity³ 34.7% PTPP Productivity Ratio Operating Leverage +9% CAGR 39.3% 1,508 1,498 1,279 1,157 2017 Constant currency 2018 All figures in CAD$ including Wealth Management 1 Including subsidiaries 2 LTM Q1/21 2019 2020 3 Adjusted as Reported 4 Market share as of November 2020. 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 Customers¹ ~2.8MM Corporate/ Commercial 46% Employees ~7,900 Branches1 131 Average Loans $47B 0% Auto 5% Loans $46.7B 37% Residential Mortgages 18.7% 16.8% 14.0% 13.8% 9.6% Average $24B Deposits Credit Cards 12% Total NIAT 2,5 $377MM Personal Loans ROE³ 6.5% Retail 79% 21% 急 & Itaú Loans Productivity³ 43.4% Secured Unsecured Santander Chile BCI Scotiabank Itaú PTPP Productivity Ratio Operating Leverage 789 535 +30% CAGR 49.5% 1,202 1,185 2017 Constant currency 2018 All figures in CAD$ including Wealth Management 1 Includes affiliates & consumer microfinance 2 LTM Q1/21 3 Adjusted as Reported 2019 2020 4 Market share as of December 2020, includes only private banks, Source: CMF 5 Adjusted before NCI 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 Market Position by Loans4 Customers¹ ~2.8MM Corporate/ Commercial 43% Employees ~6,500 26.1% Residential 19% Mortgages Branches 152 Loans $11.5B Average Loans $11B 1% Auto Average 19% $10B 19% Deposits Personal Loans 16.7% 12.3% 10.2% 6.2% 5.3% 4.3% Credit Cards Total NIAT 2,6 -$34MM BBVA 1 ROE³ -2.8% Retail 34% 66% Loans Bancolombia Davivienda Bogotá 5 BBVA Productivity³ 58.2% Secured Unsecured Occidente Scotiabank Popular5 Colpatria PTPP Productivity Ratio Operating Leverage +3% CAGR 664 519 507 460 2017 Constant currency 2018 2019 2020 54.5% 53.4% 52.6% 59.8% -1.8% -2.4% -6.4% -7.6% All figures in CAD$ including Wealth Management 1 As of October 2020 2017 2018 2019 2020 2017 2018 2019 2020 2 LTM Q1/21 3 Adjusted as Reported 4 Market share as of December 2020 5 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. AVAL is 2nd in market share in terms of Loans (25%) and 1st in Deposits (27%) 6 Adjusted after NCI 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 $955MM carrying value as of January 31, 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 11% 12% Revenue AUM $1.4B $314B 89% International 88% Canada Adjusted Net income 3,4 ($MM) and ROE³ (%) 13.7% 13.8% 14.3% Financial Results 20% AUA $546B $MM, except AUM/AUA Reported Q1/21 Y/Y Q/Q 80% 17.9% 14.3% Net Income4 $418 37% 29% Pre-Tax, Pre Provision Profit $573 36% 31% Revenue $1,390 20% 19% Expenses $817 11% 13% PCLS $4 nmf nmf Productivity Ratio 58.8% (490 bps) (350 bps) AUM ($B) $314 5% 8% AUA ($B) $546 10% 9% 425 62 318 314 332 333 363 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Adjusted² Ex. Performance Fees Performance Fees Medium-Term Financial Objectives Earnings Growth Productivity Ratio Operating Leverage Target5 8%+ <65% Positive Net Income4 $425 34% 28% Pre-Tax, Pre Provision Profit $582 34% 29% Expenses $808 12% 13% PCLS $4 nmf nmf Productivity Ratio 58.1% (430 bps) (300 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 January 31, 2021 or for the 3 months ended January 31, 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 #1 in earnings growth¹ | #2 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 ScotiaFunds. Dynamic Funds JARISLOWSKY Scotia FRASER MD Wealth Management. Scotia iTRADE. MD Financial Management 1 Fiscal Year 2020 results Scotiabank. Branch/mobile advice team 34 =4#35Global Wealth Management Strong investment performance, increasing scale Market-Leading Capabilities Award-Winning Investment Management ⚫ #2 in Retail Mutual Fund Net Sales in Canada (IFIC, January 2021) • • • Won 20 Refinitiv Lipper Fund Awards for 2020- more than any other firm (Scotia Funds and Dynamic Funds) Won 41 FundGrade A+ Awards for 2020 - more than any other bank or independent fund company (Scotia Funds and Dynamic Funds) Named Fund Provider of the Year by Wealth Professional (Dynamic Funds) Top 3 Greenwich Leader in Canadian Institutional Investment Management Service (Jarislowsky Fraser) Straight A's in the 2020 Principles for Responsible Investment report (Jarislowsky Fraser) Investment Performance Highlights of assets in the top two quartiles over 76% five-year period-1832 Asset Management 75% of core funds in the top two quartiles over five-year period - Jarislowsky Fraser • . Award-Winning Distribution Largest Private Investment Counsel business in Canada 2021 World's Best Private Banks awards in Peru and Bahamas (Global Finance) ⚫ #2 Bank-Owned Brokerage Firm (Investment • Executive Brokerage Report Card, 2020) #1 in physician market share in Canada (MD Financial) ⚫ #2 in 2020 Best Bank-Owned Online Broker (MoneySense Magazine) AUM +11% CAGR AUA +6% CAGR 502 292 404 193 2016 2020 2016 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 Asia Financial Results Canada 5% Europe Global Business 47% Banking $MM Q1/21 Y/Y Q/Q 7% Equities 56% 18% Geographic Revenue¹ Revenue By Business Line¹ Reported Net Income² $543 46% 18% $1.3B $1.3B Pre-Tax, Pre Provision Profit $722 41% 15% 32% US 35% FICC Revenue $1,336 15% 10% Expenses $614 (6%) 5% Adjusted Net Income ²,³ ($MM) and ROE³ (%) 2,3 PCLs $20 (17%) (68%) Productivity Ratio 46.0% (1,000 bps) (220 bps) 17.5% 15.4% 14.0% 17.3% 14.6% PCL Ratio4 0.08% (1 bp) (16 bps) PCL Ratio Impaired Loans4 0.06% (8 bps) (7 bps) 451 523 600 460 543 Adjusted³ Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Medium-Term Financial Objectives NIAT Growth Productivity Ratio Operating Leverage Target5 ~5% ~50% Positive Net Income² $543 20% 18% Pre-Tax, Pre Provision Profit $722 17% 15% Revenue $1,336 5% 10% PCLS Productivity Ratio PCL Ratio4 $20 46.0% 0.08% 11% (68%) (550 bps) (220 bps) 1 bp (16 bps) 1 TEB Revenue for the 3 months ended January 31, 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#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, Revenue US1 Latam¹ Cash Management and Trade Finance $427 million $404 million Top 10 foreign bank organization (FBO) in the US $39 billion Average Loans $45 billion $79 billion Average Deposits $23 billion $166 million Total NIAT $174 million • • Client list focused on S&P 500, investment grade corporates Current sectors of strength include: Power & Utilities and Energy. Focus areas for growth include Consumer 53.8% Productivity /Industrial/Retail (CIR), Technology, and Healthcare 5 Offices AES Colombia somos la energia BROADCOM. COP$122,500,000,000 Green Tranche COP$227,500,000,000 Tranche B & C Lender ENFRAGEN US$710,000,000 5.375% Senior Secured Notes due 2030 US$1,050,000,000 Senior Secured Term Loan, Flexible Facility, Working Capital Facility & Letter of Credit Facility Global Coordinator & Joint Bookrunner / Joint Lead Arranger & Hedge Provider $7,500,000,000 Senior Credit Facilities $10,000,000,000 Senior Notes 1 Figures for fiscal Q1/21 29.7% <> EnaDOM US$180,000,000 Project Finance • 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 PetroRio Acquisition of the Wahoo and Itaipu Assets in offshore Brazil from bp Joint Bookrunner Joint Lead Arranger, Joint Bookrunner and LC Provider USD 140,000,000 Exclusive Financial Advisor 38#39Risk Overview 39#40Risk Snapshot RWA Breakdown¹ Credit Exposure by Country 2,3 Credit Exposure by Sector 1,2,4 ■Canada ■ Chile Real Estate and Construction 6.3% ■ Credit Risk 66% ■ U.S. 2% 2% Financial Services Wholesale and Retail 4.9% 3.9% 4% $407B 86% ■ Operational Risk $611B1 12% 4% 5% ■ Other International ■Mexico Technology and Media 2.8% Other 2.8% ■Market Risk 5% ■ C&CA Utilities 2.6% 7% 7% ■ Peru Agriculture 2.4% ■ Colombia Automotive 1.9% Canadian Banking 1,2 Personal & Commercial Lending International Banking1,2 Energy 1.9% Transportation 1.5% Food and Beverage 1.4% Health Care 0.9% Mining 0.8% ■ Secured 70% ■ Secured 6% $328B $66B 94% ■ Unsecured 30% Sovereign 0.8% Hospitality and Leisure ■ Unsecured 0.8% Metals 0.4% Forest Products 0.4% Chemicals 0.2% 2% of total loans and acceptances 3 As at October 31, 2020 4 Regulated/contracted midstream has been moved from Energy to Utilities as of Q1/21. Prior periods have been restated to conform to the current presentation 1 As at January 31, 2021 40 40#41Well Provisioned Total ACLs ($MM) 7,820 7,810 7,403 -181 _182 220 6,079 1,957 1,994 5,095 -74 1,776 +53% 1,643 1,533 74 • 5,445 5,682 5,596 • 4,362 3,488 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Performing Loan ACLs Impaired Loan ACLS Other4 Total PCLs ($MM) 1,2,3 and PCL Ratio² 119 bps 136 bps 2,181 73 bps 51 bps 1,846 -2 149 2 49 bps 155 752 670 1,131 3 771 330 62 764 4 -18 250 1,278 215 20 1,019 736 503 525 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 International Banking Canadian Banking Global Banking and Markets • · Other³ HIGHLIGHTS $7.8 billion in total ACLs, up $2.7 billion, or 53% since Q1/20 Performing loan ACLs increased 60% since Q1/20, or $2.1 billion Total ACLS represents ~12 quarters of net write- offs HIGHLIGHTS Total PCL ratio² of 49 bps decreased 2 bps Y/Y and 24 bps Q/Q The Q/Q improvement was driven by lower PCL on performing loans, mainly related to retail in International Banking driven by the more favourable macroeconomic outlook 1 Includes provision for credit losses on debt securities and deposit with banks of $nil in Canadian Banking, $nil in International Banking (Q1/20: -$1 million, Q2/20: $1 million, Q4/20: -$1 million), $nil in Global Banking and Markets (Q3/20: $1 million, Q4/20: -$1 million), $nil in Global Wealth Management (Q3/20: -$1 million) and $nil in Other (Q1/20: $1 million, Q2/20: -$2 million, Q4/20: $2 million) 2 Refer to Non-GAAP Measures on slide 37 for adjusted results 3 Other includes provisions for credit losses in Global Wealth Management of $4 million (Q2/20: $2 million, Q3/20: $1 million, Q4/20: $3 million) 4 Includes ACLs on off-balance sheet exposures and ACLs on acceptances, debt securities and deposits with financial institutions 41#420.25% 0.00% 2007 1.75% 1.50% 1.25% 1.00% 0.75% 0.50% 0.25% 2008 2009 2010 0.44% -Average (2007 - Q1/21) 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2011 2012 2013 2014 2014 0.50% 0.40% 0.30% 0.19% 0.20% 0.10% 0.00% 2007 2008 2009 2010 2011 2011 2012 2013 2013 0.70% 0.60% 0.50% 0.40% 0.30% 0.20% 0.12% 0.10% 0.00% 2007 2014 2008 2009 2010 0.24% 2011 211 0.59% All Bank¹ Historical PCL Ratios on Impaired Loans 0.56% 0.50% 0.49% 0.49% 0.47% 0.45% 0.34% 0.36% 0.42% 0.40% 0.43% Avg: 0.32% 41 bps 0.23% 0.37% 0.35% 0.28% Canadian Banking 0.23% 0.18% 0.23% 0.23% 0.28% 0.29% 0.24% 0.29% 0.32% 0.23% Avg: 26 bps 2015 2016 0.90% 1.00% International Banking 0.75% 0.75% 0.86% 1.27% 1.24% 1.26% 1.21% 1.29% 1.30% IIIII 1.49% 1.50% Avg: 103 bps H 2015 2020 42 Q1/21 2017 2018 2019 2020 Q1/21 2016 2017 2018 2019 2020 Q1/21#43Canadian Retail: Loans and Provisions' Mortgages Auto Loans 224 216 96 106 91 1 4 4 2 1 89 2 1 1 94 99 105 81 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Lines of Credit2 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Credit Cards 164 169 1,002 896 80 79 62 385 400 322 60 73 87 74 321 65 377 445 401 312 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 PCL as a % of avg. net loans (bps) Loan Balances Q1/21 Mortgages Spot ($B) % Secured $250 100% 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 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 PCLs on Impaired Loans as a % of avg. net loans (bps) Auto Loans Lines of Credit² Credit Cards Total $39 100% $32 $6 $3283 63% 2% 94%4 43#44International Retail: Loans and Provisions Markets with Greater Mexico Chile Caribbean & CA 1.8x 1.2x 1 1.7x 2271 409 1621 191 2141,2,3 3683 550 591 Weighting to 279 321 556 457 Secured 231 208 246 228 280 191 181 248 159 155 261 160 221 187 238 81 157 178 267 250 243 218 203 251 253 150 148 154 175 190 141 163 87 54 156, 138 165 170 231 221 195 204 2 Q2/19 Q3/19 Q4/19 Q1/20'Q2/20 Q3/20 Q4/20 Q1/21 Q2/19 Q3/19 Q4/19 Q1/20'Q2/20 Q3/20 Q4/20 Q1/21 Colombia Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Peru 2.6x 4471,2 1,161 2.2x 4221 913 I Markets with Greater 1,322 1,552 1,152 Weighting to Unsecured 1,290 939 970 764 1,065 738 545 549 531 473 471 402 471 439 395 361 361 491 470 579 542 143 372 424 455 377 420 406 245 Q2/19 Q3/19 Q4/19 Q1/20' Q2/20 Q3/20 Q4/20 Q1/21 Q2/19 Q3/19 Q4/19 Q1/20' Q2/20 Q3/20 Q4/20 Q1/21 PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps) Loan Balances Q1/21 Mexico Peru Chile Colombia Caribbean & CA Total4 Secured ($B) $11 $3 $21 $2 $9 $46 Unsecured ($B) $2 $6 $5 $4 $3 $20 Spot Total ($B) $13 $9 $26 $6 $12 $66 1PCL excludes impact of additional pessimistic scenario ² Adjusted for acquisition-related costs, including Day 1 PCL impact on acquired performing loans 3 Excludes impact of divested operations 4 Total includes other smaller portfolios 44 44#45Sectors Most Impacted by COVID-191 Most Impacted Sectors as a % of Total Loans Canada Real Estate: Office and Retail C&CA 9% $B %IG 4.7% Mexico 3% 4.1% 4.0% 4.0% 56% Office REIT 1.1 73% $9.1B Office Real Estate 3.7 50% 11% U.S. (1.5% of total loans) Retail REIT 1.3 95% Q2/20 Q3/20 Q4/20 Q1/21 7% Retail Real Estate 3.1 54% Other 1% 13% Europe Total² 9.1 61% Latin America Canada Other Hospitality & Leisure 27% 9% Total Loans $626.0B Energy E&P and $B %IG C&CA Oilfield Services: 1.2% Hotels 3.8 22% Real Estate Office $4.9B = Cruise Lines 0.3 and Retail: 1.5% (0.8% of total loans) 0% 17% Transportation - Air 33% Latin Gaming 0.7 0% Travel: 0.4% 4% America U.S. Total² 4.9 18% Hospitality & Leisure: 0.8% 10% Mexico Transportation: Mexico Canada Latin America 14% Air Travel 7% 5% $B %IG C&CA 8% Total COVID-19 High Impact: 4.0% $2.6B Aircraft Finance 1.1 99% Other (0.4% of total loans) Airlines 0.3 4% 14% 52% 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 Airports 1.1 57% Europe Total² $2.6 69% 2 May not add due to rounding 45#46Treasury and Funding 46#47Highlights Strong liquidity, stable funding and continued reduction in wholesale funding • Liquidity well in excess of regulatory requirements o LCR of 129%, -9% Q/Q and +2% Y/Y o Pacific Alliance countries ended the quarter with LCRs of 135-185% o HQLA of $213B, +$3B Q/Q and +$45B Y/Y, is substantially comprised of Level 1 assets • Stability of funding reflected in NSFR of 115% ⚫ 23.3% TLAC is above 22.5% regulatory minimum required by November 1, 2021 . • Reduction in wholesale funding moderated as excess system liquidity substantially absorbed o Continued growth in deposits mitigating requirement for wholesale funding o Reduced term funding to mitigate cost while balancing NSFR, TLAC and overall funding stability • Funding metrics continue to improve 。 Wholesale funding at $197B, down $3B Q/Q and $74B Y/Y 。 Wholesale funding / total assets improved Q/Q from 17.6% to 16.9% 47#48Funding 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 48#49Wholesale Funding Wholesale funding diversity by instrument and maturity1,6,7 24%- Senior Notes 16% Bail-inable Notes Asset-Backed Commercial Paper³ 2% 22% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate $197B of Deposits 1% Asset-Backed Securities 15% Term Funding Maturity Table (Excluding Sub Debt And Mortgage Securitization) (Canadian Dollar Equivalent, $B) $25 $23 $23 Covered Bonds $21 3 9 3 11 2% Deposits from Banks² 14% Mortgage Securitization4 $9 $9 18 16 2 3 12 12 20 20 -4% Subordinated Debt5 7 6 < 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 Q1/21. 7 May not add to 100% due to rounding. 49#50Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Deposit Overview Strong growth in personal & business and government deposits Personal Deposits (Spot, Canadian Dollar Equivalent, $B) • $244 $250 $201 $211 $222 $223 $224 $204 $215 $225 $225 $235 $246 3Y CAGR 7.5% • Personal Deposits Majority of Q/Q growth from Canada Continued impact of system liquidity from central banks and government relief programs Important for both relationship purposes and regulatory value Q1/20 Business & Government Deposits¹ (Spot, Canadian Dollar Equivalent, $B) $197 $179 $170 $197 $168 $211 $221 $223 $227 $263 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 3Y CAGR 17.5% Q2/20 Q3/20 Q4/20 Q1/21 $270 $276 $274 • 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. Business & Government Continuing to leverage relationships to grow deposits Focusing on deposits with regulatory value 50 50#51Q1/18 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Money Market Wholesale Funding / Total Wholesale Funding 39.9% 44.7% 38.4% Wholesale Funding Utilization Declining reliance on wholesale funding Wholesale Funding / Total Assets 24.6% 23.9% 23.5% 16.9% Continued Reduction in Wholesale Funding Driven by deposit growth and continued balances with central bank liquidity facilities ○ Reduced term funding to mitigate cost while balancing NSFR, TLAC and overall funding stability o TLAC of 23.3% is above 22.5% regulatory minimum required by November 1, 2021 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 26.1% Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Money Market Funding Continues to be Subdued Opportunistic utilization of short-term funding 51#52Key Metrics Well funded Bank with very strong liquidity and stable funding • Liquidity Coverage Ratio (LCR) 。 Maintained elevated levels of liquidity, well in excess of regulatory requirements 。 Supported by central bank liquidity related to pandemic response o LCR of 135-185% in Pacific Alliance countries 141% 138% 128% 132% 125% 123% 125% 127% 129% Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets 。 Strong annual growth but moderated Q/Q: +$3B Q/Q and +$45B Y/Y $227 $210 $213 $188 $158 $158 $160 $165 $168 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 ⚫ Net Stable Funding Ratio (NSFR) o Public disclosure started Q1/21 。NSFR is well in excess of 100% regulatory requirement 115% Q1/21 52 52#53Appendix 1 Core Markets: Economic Profiles#54Economic Outlook in Core Markets Real GDP Growth Forecast (2021-2022) Real GDP (Annual % Change) Forecast1,2 Country 2010-19 Average 2020E 2021 2022 Q1F Q2F Q3F Q4F Year Q1F Q2F Q3F Q4F Year Canada 2.2 -5.4 -1.5 12.7 5.5 5.1 5.3 6.0 5.2 3.6 2.5 4.3 U.S. 2.3 -3.5 -0.8 11.4 6.3 6.9 5.8 7.3 5.3 3.0 1.7 4.3 Mexico 2.7 -8.3 -5.0 15.1 2.1 3.0 3.3 1.0 1.6 23 2.3 3.6 2.1 Peru 4.5 -11.4 -0.8 30.1 4.4 6.3 8.7 4.5 6.2 3.4 3.4 4.0 Chile 3.3 -6.0 0.3 15.6 7.8 1.8 6.0 0.8 3.3 4.6 5.3 3.5 Colombia 3.7 -7.5 -3.2 14.1 5.8 3.4 5.0 4.2 4.1 3.6 4.2 4.0 PAC Average 3.6 -8.3 -2.2 18.7 5.0 3.6 5.8 2.6 3.8 3.5 4.1 3.4 Source: Scotiabank Economics 1 Forecasts for Canada and U.S. as of the February 4, 2021 Scotiabank Global Forecast Tables 2 Forecasts for PAC countries as of the February 8, 2021 Latam Weekly 54 54#55COVID-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% 13.5% 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 580% 413% 148% 147% 244% 50% (% of possible population covered) Vaccine Deployment4 3.72 18.86 1.31 0.50 15.12 (Vaccine doses administered per 100 people) 0.08 (Rollout started on Feb 18, 2021) COVID-19 Incidence Rate5 (Cumulative confirmed cases per 100k people) 2,234 8,467 1,589 3,827 4,143 4,357 Sources: Scotiabank Economics, Duke University, Johns Hopkins University, Our World in Data and national reports as of February 22, 2021, unless otherwise indicated 1 As of February 22, 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 February 21, 2021; Canada as of February 19, 2021. Source: Our World in Data 5 As of February 19, 2021. Source: Johns Hopkins University 55#56Pacific Alliance: Economic Outlook and Election Calendar Looking Ahead to Annual GDP Recovery 105 index Q4-2019-100, 4-qtr. rolling sum 100 95 95 00 90 85 20 Chile Colombia 21 Mexico 22 Peru Sources: Scotiabank Economics, Haver Analytics. Forecasts for Canada & U.S. as of the February 4, 2021 Scotiabank Global Forecast Tables; Forecasts for PAC countries as of the February 8, 2021 Latam Weekly. Constitutional Convention Seats Gubernatorial (1st rd.), Gubernatorial & Local Runoff Presidential (1st rd.), Vice Pres. Seats & Legislative Elections in the Region Presidential Runoff Chamber of Deputies, Governs. & Local Proposed Const. Ratification Vote Pres., Leg. & Reg. Advisory Primary Pres., Leg. & Reg. Advisory General - Presidential Runoff Regional & Municipal Presidential & Legislative Apr. 2021 May 2021 Jun. 2021 Jul. 2021 Nov. 2021 Dec. 2021 2022 56#57Canadian Economy Diverse sources of growth with a strong balance sheet 21.1% Finance, Insurance, & Real Estate 14.5% Other 3.7% Transportation & Warehousing 6.2% Professional, Scientific, & Technical Services 7.0% CANADIAN GDP BY INDUSTRY (Nov. 2020) Public Administration GDP Growth 2021F: 5.3% -12.4% Real GDP Growth Health & Education 10.8% Wholesale & Retail Trade 7.2% 9.8% Manufacturing 7.3% Mining and Oil & Gas Extraction Construction GDP Growth 2022F: 4.3% ANNUAL % CHANGE 3 N U.S. 2010-2019 Canada Eurozone 2020e-2022f U.K. Japan Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Feb 4, 2021. General Government Net Debt in 2020 % OF GDP Government Financial Deficits in 2020 0 -5 (8.2) (10.8) -10 (13.0) 177 (14.2) (14.4) 149 -15 (16.5) (18.7) (18.7) 107 110 96 98 -20 54 % OF GDP 46 -25 GE FR IT JN Canada Germany OECD U.K. U.S. France Italy Japan Adv. Econ. U.K. CA* U.S. Sources: Scotiabank Economics, IMF Fiscal Monitor (October 2020). * Canadian federal deficit reflects Scotiabank Economics' forecast as of Oct. 14, 2020. Sources: Scotiabank Economics, IMF Fiscal Monitor (October 2020 estimates), CBO. 57#58Mexican Economy Solid mix of sectors • The Mexican economy reflects a solid mix of commodities, goods production, and services 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 40% of global GDP and include all G7 countries Authorities' fiscal and debt indicators remain sound GDP Growth 2021F: 3.3% GDP Growth 2022F: 2.1% 17.3% Finance, Insurance, & Real Estate 15.0% Other 3.8% Natural Resources 5.3% Transportation & Warehousing 6.2% Health & Education MEXICAN GDP BY INDUSTRY* (Q3 2020) 1.9% Professional, Scientific, & Technical Services 4.3% Public Administration 17.5% Wholesale & Retail Trade 16.3% Manufacturing 6.5% Mining and Oil & Gas Extraction 5.9% Construction * Q4-2020 real GDP growth -5.2% y/y. Industry GDP breakdown not yet available for Q4-2020. Top 5 Trading Partners* Contributions to Mexican GDP Growth 8 y/y % change 6 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 19% South Korea 2% United Germany 3% States 61% Canada 4% China 11% * Trade data updated as of Q3-2020 58#59Peruvian Economy Resilient economic fundamentals 12.3% Mining, Oil, & Gas 6.1% Construction 2.0% Electricity & Water 5.2% 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 65% 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 12.8% Manufacturing 10.8% Finance, Insurance, & Real Estate PERUVIAN GDP BY INDUSTRY (Q3 2020) 20.4% GDP Growth 2021F: 8.7% GDP Growth 2022F: 4.0% Contributions to Peruvian GDP Growth 10 y/y % change 5 -5 -10 -15 -35 ༄n༠ རྩྭ Ş༈༙ ༞ མཻ ༞ ༞ ཤྲཱ -20 -25 -30 -40 17 18 Net Exports Investment Consumption Inventories Government Real GDP Sources: Scotiabank Economics, Haver Analytics. 19 20 30.5% Other Transportation & Warehousing Top 5 Trading Partners* Others 46% China 24% United States Mexico South 3% Korea 4% Canada 5% 18% * Trade data updated as of Q3-2020 59#60Chilean 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 74.3% of global GDP. Public support for households and businesses has powered a strong rebound in consumption GDP Growth 2021F: 6.0% GDP Growth 2022F: 3.5% 16.1% Finance, Insurance, & Real Estate 8.5% Other 1.2% Restaurants & Hotels 7.7% Transportation & Warehousing 3.5% Natural Resources CHILEAN GDP BY INDUSTRY (Q3 2020) 17.8% Housing & Personal Services 10.1% Wholesale & Retail Trade 10.9% Manufacturing 14.0% Mining and Oil & Gas Extraction 5.0% Construction 5.2% Public Administration Top 5 Trading Partners* Contributions to Chilean GDP Growth 10 y/y % change 5 0 -5 -10 Net Exports -15 -20 Investment Consumption Inventories Government Real GDP -25 17 18 Sources: Scotiabank Economics, Haver Analytics. 19 20 20 Others 36% China 35% Argentina 3% Brazil United 5% Japan States 6% 15% * Trade data updated as of Q3-2020 60 60#61Colombian 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 42% 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% 15.3% Finance, Insurance, & Real Estate 9.0% Other 7.0% Natural Resources 3.0% Information & Communication 1.9% Arts & Entertainment COLOMBIAN GDP BY INDUSTRY (Q3 2020) 7.2% Professional, Scientific, & Technical Services 15.2% Wholesale, Retail Trade, Accommodation & Food Services 16.4% 12.2% Manufacturing 7.6% Mining and Oil & Gas Extraction 5.2% Construction Public Administration 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 Top 5 Trading Partners* United States Others 28% 41% India 4% Brazil Mexico 5% 5% * Trade data updated as of Q3-2020 China 17% 61#62Appendix 2 Canadian Economic Fundamentals#63Consumer and Business Activity Business Confidence - CFIB Business Barometer Key Economic Indicators 140 80 index, Feb 2020 levels = 100 index, 50 stronger 120 70 3-month moving 100 average 60 60 80 60 50 40 40 40 20 Headline index Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Auto Sales Housing Starts Employment 30 6-month moving average Mfg Shipments Retail Sales Manufacturing PMI 20 20 11 Exports 12 15 Sources: Scotiabank Economics, CFIB. 13 14 16 17 18 19 20 21 Sources: Scotiabank Economics, Bloomberg. Canada Auto Sales mn, saar units 2.0 1.8 1.6 1.4 1.2 1.0 0.8 Canada Real Retail Sales 110 Feb 2020-100 105 100 95 90 85 80 वैजै 75 0.6 70 65 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 Sources: Scotiabank Economics, Statistics Canada. Jan-20 Apr-20 Jul-20 Oct-20 63#64Housing Market Population Growth 1.8 annual % change 1.6 1.4 Canada Euro Area Japan France 0.90 United States United Kingdom Italy 0.80 Housing Market Supply Conditions Ratio of total home completions on 18- month rolling basis relative to population change 1.2 0.70 1984-present avg. 1.0 0.8 0.60 0.6 0.4 0.50 0.2 0.40 0.0 -0.2 0.30 -0.4 87 90 08 09 10 11 12 13 14 15 16 17 18 19 20 84 93 99 02 Sources: Scotiabank Economics, Statistics Canada. 96 05 08 11 14 17 20 90 80 70 60 50 40 30 88 48322 Sources: Scotiabank Economics. Housing: Sales-to-Listings Ratio sa sales-to-new listings ratio, % Government Support of Households 2.5 arrears rate, % 2.0 1.5 1.0 0.5 20 10 0.0 0 20 88 90 92 94 96 98 00 02 04 06 08 10 12 123 14 16 18 20 Sources: Scotiabank Economics, CREA. 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. 19 64#65Growth in Household Credit • Total household credit, in annual nominal terms, has slowed considerably since the 2007 peak of 13.5% annually. However, the Q4-2020 growth of 5.1% 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 1.0% annually in Q4-2020. Consumer loan growth has trended downward since late-2000 highs of over 18% annually, with recent months' negative growth induced by consumer spending pullbacks Mortgage credit grew at 7.3% annually in Q4-2020 vs the 2007 peak of 14.0%. Underlying demand coupled with lower five-year rates drove a rebound in the pace of growth Household Credit Growth 20 20 [%, 3-month moving average y/y % 15 change 10 10 m/m% 5 change, SA 0 T Consumer Loan Growth %, 3-month moving average 25 20 225 15 10 O y/y % change Residential Mortgage Growth 20 %, 3-month moving average 15 yly% change 10 -5 -10 -15 m/m% change, SA 5 m/m% change, SA -20 0 01 03 05 07 09 11 13 15 17 19 21 01 03 05 07 09 11 13 15 17 19 21 15 17 19 21 Sources: Scotiabank Economics, Sources: Scotiabank Economics, Statistics Canada. Statistics Canada. 01 03 05 07 09 11 13 Sources: Scotiabank Economics, Statistics Canada. 65#66Appendix 3 Additional Information#67Medium-Term Financial Objectives All-Bank Objectives¹ EPS Growth 7%+ ROE 14%+ Operating Leverage 13-5 year targets from 2020 Investor Day Positive Capital Strong Levels 67 20#68Digital Progress: Canada Digital Adoption (%)¹ +17.5% Active Digital 3,329 3,520 3,847 3,691 3,910 +20.7% Users (#'000) 55% 56% 46% 50% 51% 2018 2019 Q1/20 Digital Sales (%) 2018 2019 Q1/20 Q4/20 Q1/21 +33.6% Q4/20 Q1/21 Active Mobile Users (#'000) 2,396 2,666 2,781 3,073 3,201 2018 2019 Q1/20 Q4/20 Q1/21 +4.3% 26% 26% 27% +9.7% 25% 16% Self-Serve Transactions 84% 87% 88% 92% 92% (%) 2018 Definitions 2019 Q1/20 Q4/20 Q1/21 2018 2019 Q1/20 Q4/20 Q1/21 Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption targets (% 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 updated to reflect addressable customer base, excluding indirect-channel acquisitions 68#69Digital Progress: Pacific Alliance Digital Adoption (%) +89.0% 3,677 3,681 Active Digital 2,717 3,038 +82.4% Users (#'000) 1,947 46% 47% 35% 37% 2018 2019 Q1/20 Q4/20 Q1/21 26% 2018 2019 Q1/20 Digital Sales (%) +148.6% Q4/20 Q1/21 2,830 2,891 Active Mobile 1,847 2,183 Users (#'000)¹ 1,163 2018 2019 Q1/20 Q4/20 Q1/21 +178.6% 51% 53% +26.7% 34% Self-Serve 29% 65% 70% 76% 83% 83% Transactions 19% (%) 2018 2019 Q1/20 Q4/20 Q1/21 2018 2019 Q1/20 Q4/20 Q1/21 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption targets (% 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 Note: Q1/21 reported using one month lag 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 69#70Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Common Share Issue Information: 064149107 CA0641491075 • CUSIP: • ISIN: . . FIGI: NAICS: BBGOOOBXSXH3 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 70 0#71Contact Information Investor Relations Philip Smith Senior Vice President 416-863-2866 [email protected] Rene Lo Director 416-866-6124 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Tiffany Sun Senior Manager 416-866-2870 [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] Mark Michalski Director, Strategy & Market Development, Funding 416-866-6905 [email protected] 71