Q420 Equity Investor Marketing Presentation

Investor PresentationDecember 2020

2

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 beincluded in other filings with Canadian securities regulators or the U.S. Securities andExchange Commission, or in other communications. In addition, representatives of theBank may include forward-looking statements orally to analysts, investors, the mediaand others. All such statements are made pursuant to the “safe harbor” provisions ofthe U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadiansecurities legislation. Forward-looking statements may include, but are not limited to,statements made in this document, the Management’s Discussion and Analysis in theBank’s 2020 Annual Report under the headings “Outlook” and in other statementsregarding the Bank’s objectives, strategies to achieve those objectives, the regulatoryenvironment in which the Bank operates, anticipated financial results, and the outlookfor the Bank’s businesses and for the Canadian, U.S. and global economies. Suchstatements are typically identified by words or phrases such as “believe,” “expect,”“foresee,” “forecast,” “anticipate,” “intend,” “estimate,” “plan,” “goal,” “project,” andsimilar 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 andare subject to inherent risks and uncertainties, which give rise to the possibility that ourpredictions, forecasts, projections, expectations or conclusions will not prove to beaccurate, that our assumptions may not be correct and that our financial performanceobjectives, vision and strategic goals will not be achieved.

We caution readers not to place undue reliance on these statements as a number ofrisk factors, many of which are beyond our control and effects of which can be difficultto 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 bymany factors, including but not limited to: general economic and market conditions inthe countries in which we operate; changes in currency and interest rates; increasedfunding costs and market volatility due to market illiquidity and competition forfunding; the failure of third parties to comply with their obligations to the Bank and itsaffiliates; changes in monetary, fiscal, or economic policy and tax legislation andinterpretation; changes in laws and regulations or in supervisory expectations orrequirements, 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 completenessof information the Bank receives on customers and counterparties; the timelydevelopment and introduction of new products and services; our ability to execute ourstrategic plans, including the successful completion of acquisitions and dispositions,including obtaining regulatory approvals; critical accounting estimates and the effect ofchanges 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 isexposed; disruptions in or attacks (including cyber-attacks) on the Bank's informationtechnology, internet, network access, or other voice or data communications systemsor services; increased competition in the geographic and in business areas in which weoperate, including through internet and mobile banking and non-traditionalcompetitors; exposure related to significant litigation and regulatory matters; theoccurrence of natural and unnatural catastrophic events and claims resulting from suchevents; the emergence of widespread health emergencies or pandemics, including themagnitude and duration of the COVID-19 pandemic and its impact on the globaleconomy, financial market conditions and the Bank’s business, results of operations,financial condition and prospects; and the Bank’s anticipation of and success inmanaging the risks implied by the foregoing. A substantial amount of the Bank’sbusiness involves making loans or otherwise committing resources to specificcompanies, industries or countries. Unforeseen events affecting such borrowers,industries or countries could have a material adverse effect on the Bank’s financialresults, businesses, financial condition or liquidity. These and other factors may causethe 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 allpossible risk factors and other factors could also adversely affect the Bank’s results, formore information, please see the “Risk Management” section of the Bank’s 2020 AnnualReport, as may be updated by quarterly reports.

Material economic assumptions underlying the forward-looking statements containedin 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 viewsand the actual outcome is uncertain. Readers should consider the above-noted factorswhen reviewing these sections. When relying on forward-looking statements to makedecisions with respect to the Bank and its securities, investors and others shouldcarefully consider the preceding factors, other uncertainties and potential events.

Any forward-looking statements contained in this document represent the views ofmanagement only as of the date hereof and are presented for the purpose of assistingthe Bank's shareholders and analysts in understanding the Bank's financial position,objectives and priorities, and anticipated financial performance as at and for theperiods 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-lookingstatements, whether written or oral, that may be made from time to time by or on itsbehalf.

Additional information relating to the Bank, including the Bank’s Annual InformationForm, can be located on the SEDAR website at www.sedar.com and on the EDGARsection of the SEC’s website at www.sec.gov.

Caution Regarding Forward-Looking Statements

3

TABLE OF CONTENTSScotiabank Overview 4

Business Line Overview: Canadian Banking 21

Business Line Overview: International Banking 26

Business Line Overview: Global Wealth Management 34

Business Line Overview: Global Banking and Markets 37

Risk Overview 40

Treasury and Funding 48

Appendix 1: Core Markets: Economic Profiles 55

Appendix 2: Canadian Economic Fundamentals 63

Appendix 3: Additional Information 67

Contact Information 70

4

Leading Bank in the Americas

1 Core Markets rankings based on latest available market share data on loans for publicly traded banks as of November 30, 20202 Business Line rankings based on Total Net Income for publicly traded banks in Canada as of July 31, 2020

#3 in P&C Banking

#2 in Capital Markets

#3 in Wealth

#3 in Canada

#3 in Peru

#4 in Chile

#5 in Mexico

#6 in Colombia

Core Markets1 Business Lines2

5

64%11%

16%3% 6%

Leading Bank in the Americas1Core markets: Canada, US, Mexico, Peru, Chile and Colombia

Full-Service,Universal Bank

CanadaMexicoPeruChile Colombia CaribbeanUruguay

Wholesale Operations

USAUKSingaporeAustraliaIrelandHong Kong SARChina BrazilMalaysia IndiaJapan

7th largest bank by assets1 in the Americas

1 Ranking by asset as at November 27, 2020, 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. Operating Leverage excludes divested operations; 3 Ranking based on market share in loans as of September 2020 in Mexico, Peru and Chile, as of August 2020 in Colombia, as of July 2020 in Canada for publically traded banks; 4 Adjusted net income attributable to equity holders of the Bank for the 12 months ended October 31, 2020

Earnings by Market2,4

Scotiabank2 FY2020ChangeFY/FY

Revenue $31,139MM -Net Income $6,961MM (26%)Return on Equity 10.4% (350 bps)Operating Leverage +1.0% n.a.Productivity Ratio 53.0% +30 bpsTotal Assets $1.1T +5%CET1 Ratio 11.8% +70 bps

Ranking by Market Share3

Canada #3

USMCA USA Top 15 FBO

Mexico #5Peru #3Chile #4Colombia #6

Canada

U.S.A

PAC

C&CA

PAC

Other

6

Canadian Banking

P&C

37%

International Banking P&C

16%

Global Banking and

Markets

29%

Global

Wealth Management

18%

Canada64%

U.S.11%

Mexico5%

Peru6%

Chile5%

C&CA3%

Other6%

15.5%5.8%

14.0% 15.4%10.4%

21.6%

11.6%15.0% 14.9% 13.1%

CanadianBanking

InternationalBanking

Global WealthManagement

Global Bankingand Markets

All Bank

Well-Diversified Business with Strong Returns

Earnings by Business Line1,2 Earnings by Market1,2,4

1 Net income attributable to equity holders for the 12 months ended October 31, 2020; 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 Excludes Colombia (loss)

Caribbean and Central America

FY2020EARNINGS MIX

$7.1B3

FY2020EARNINGS MIX

$7.1B3Per

Personal & Commercial Banking

53%

WholesaleBanking

29%

WealthManagement

18%

Europe, Asia, Brazil, Australia

3-year average ROE

7

Personal & Commercial Banking

Business Lines

Business Line

Wealth Management Capital MarketsActivity

Global Wealth Management

Global Banking and Markets

Canadian Banking

International Banking

NIAEH1 ($MM)

% All-Bank1

ProductivityRatio1

ROE1

Products • Mortgages• Auto Loans• Commercial

Loans• Personal Loans• Credit Cards

• Mortgages• Auto Loans• Commercial

Loans• Personal Loans• Credit Cards

• Corporate Banking• Advisory• Equities• Fixed Income• Foreign Exchange• Commodities

• Asset Management• Private Banking• Private Investment

Counsel• Brokerage• Trust

Employees3

$2,604 $1,148 $1,297 $2,034

37% 16% 18% 29%

35-40% 25-30% ~15% 15-20%% Target

46.5% 53.1% 61.5% 45.1%

15.5% 5.8% 14.0% 15.4%

18,085 47,296 7,121 2,403

1 Adjusted figures for the 12 months ended October 31, 20202 Average balance for fiscal year 20203 As at October 31, 2020

Total Assets2 ($B) $358.8 $206.4 $26.0 $412.1

8

Why Invest in Scotiabank?

Leading bank in the Americas

Diversified exposure to high quality growth markets

Increasing scale and market share in core 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

• Competitive scale and increasing market share in core markets• Competitive advantages in technology, risk management, and funding

versus competitors• Increased scale in Wealth Management and P&C businesses via M&A

• Six core markets: Canada, US, Mexico, Chile, Peru and Colombia• ~90% of earnings from the Americas• Only universal bank with full presence in all Pacific Alliance countries

• 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 Q4/20

Strong risk culture: solid credit quality, well provisioned

• Increased Digital Adoption to 48%• Surpassed target for In-Branch Financial Transactions of <10%

• Named “Best Bank in North America for Innovation in Digital Banking

• #1 ranking for “Online Banking Satisfaction” - J.D. Power

Acceleration in Digital Banking in 2020

9

12.4%11.2%

9.6%7.4%

2.2%

15.3%14.3%

10.0%11.0%

5.6%

0%

5%

10%

15%

20%

Focused on Higher Return Markets

More Attractive Banking ROEs in Canada and Latam(Latest Reporting Period)

Return on equity in latest reporting period as of November 30, 2020Canada and US figures are average for five largest and 10 largest market share banks in each country, respectively Sources: Bloomberg LLP, Company Financial Reports

Canada Latam USAsia Europe

>75% of All-Bank earnings

3-year average ROE

10

Increasing Banking Penetration

Brazil Chile

Canada

MexicoPeru

Colombia

Spain

U.S.

U.K.

PAC4

Mature Markets

Bubble size represents nominal GDP

Growth Markets

Czech Republic

Cambodia

C&CAPAC

Scotia P&C Markets

Scotia Americas Wholesale Markets

Other Markets(Included for comparison purposes)

1 Source: World Bank Open Data 2018. Banking Penetration is defined as account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+)2 Source: World Bank Open Data 2018. GDP per capita is nominal gross domestic product divided by mid year population

$0 $10,000 $20,000 $70,000$60,000$50,000$40,000$30,000

GDP per Capita (US$)2

150

100

50

0

Bank

ing

Pene

trat

ion

(%)1

11

Real GDP (Annual % Change)

Country 2010–19Average

Forecast1, 2

2020 2021Q1 Q2 Q3E Q4F FY Q1F Q2F Q3F Q4F FY

Canada 2.2 -0.3 -12.5 -5.2 -4.9 -5.7 -2.4 11.5 3.7 4.1 4.2

U.S. 2.3 0.3 -9.0 -2.9 -2.7 -3.6 -1.2 10.1 3.9 3.9 4.2

Mexico 2.7 -1.3 -18.7 -8.6 -7.6 -9.1 -5.0 15.1 2.1 3.0 3.8

Peru 4.8 -3.5 -29.8 -9.4 -3.3 -11.5 -0.8 30.1 4.4 6.3 10.0

Chile 3.6 0.2 -14.5 -9.1 2.6 -5.2 1.5 15.3 7.5 -2.1 5.6

Colombia 3.8 1.4 -15.7 -9.3 -6.2 -7.5 -3.2 14.1 5.8 3.4 5.0

PAC Average 3.7 -0.5 -16.7 -7.4 -3.7 -7.1 -1.9 16.0 4.6 3.1 5.5

Economic Outlook in Core Markets

Real GDP Growth Forecast (2019–2021)

Source: Scotiabank Economics. 1 Forecasts for Canada and U.S. as of the December 4, 2020 Scotiabank Global Forecast Tables.2 Forecasts for PAC countries as of the November 28, 2020 Latam Weekly publication.

12

63.7 59.6

10.9

10.6 10.0

4.8

Q2/20 Q3/20 Q4/20 Q1/21ERetail Commercial & Small Business

Customer Assistance Programs(As of October 31, 2020)

Retail Product Types1Number of Amount

% Current following Deferral Expiry1,2customer accounts1 outstanding1

#(’000s) % ($B) %CanadaMortgages 16 45.7% $4.26 87.1% 98.0%Credit Cards 3 8.6% $0.02 0.4% 85.3%Personal Loans3 16 45.7% $0.61 12.5% 92.8%Total/Average 35 100% $4.89 100.0% 97.2%Change from September 30, 2020 -$11.5Change from July 31, 2020 -$36.6

InternationalMortgages 36 7.3% $3.70 61.6% 90.5%Credit Cards 299 61.4% $0.96 16.0% 81.6%Personal Loans3 152 31.2% $1.34 22.4% 87.0%Total/Average 486 100.0% $6.00 100.0% 87.8%Change from September 30, 2020 -$2.5Change from July 31, 2020 -$12.1

Deferral Balance ($B) 5

1 As at October 31st 20202 Canadian payments % includes accounts that have not yet completed first billing cycle since expiring3 93% of active deferred Personal Loans in Canada are Auto Loans, 16% of active deferred Personal Loans in International are Auto Loans4 Figures relate to active deferral exposures and exclude amounts related to covenant relief requests5 Prior period amounts have been restated to conform to current period presentation6 Of the $3.0 billion of deferral balance expected as at Q1/21, $1.1 billion relates to retail loans and $1.9 billion relates to commercial loans

Commercial & Small Business ($B)

Significant Decrease in Deferral ExposureActive

Deferral Customers

#(‘000s)

Active Total Exposures4

($B)

Canada 0.7 0.2International 0.7 4.6Total 1.4 4.8

74.3 69.6

15.73.06

-96%

13

3,504 2,9531,215 1,534

2,6041,148 1,297 2,034

Canadian Banking InternationalBanking



2019 2020

Fiscal 2020 Financial Performance $MM, except EPS 2020 Y/Y

ReportedNet Income $6,853 (22%)

Pre-Tax, Pre Provision Profit $14,480 +1%Diluted EPS $5.30 (21%)

Revenue $31,336 +1%Expenses $16,856 +1%

Productivity Ratio 53.8% (10 bps)Core Banking Margin 2.27% (17 bps)

PCL Ratio1 98 bps +47 bpsPCL Ratio on Impaired Loans1 56 bps +7 bps

Adjusted2

Net Income $6,961 (26%)Pre-Tax, Pre Provision Profit $14,625 (1%)

Diluted EPS $5.36 (25%)Revenue $31,139 -

Expenses $16,514 +1%Productivity Ratio 53.0% +30 bps

PCL Ratio1 95 bps +46 bps

• Adjusted EPS2 down 25%, largely impacted by PCLs related to the COVID-19 pandemic

• Adjusted pre-tax, pre-provision profit2 down 1%, or up 5% excluding impact of divestitures

• Adjusted revenue2 was flat, or up 4% excluding impact of divestitures

• Core banking margin decreased 17 bps

o Lower margins due to changes in business mix and the declining interest rate environment, as well as higher liquidity levels

• Adjusted expenses2 increased 1%, or 3% excluding impact of divestitures

• Adjusted operating leverage2 of negative 0.6% , or positive 1.0% excluding impact of divestitures

HIGHLIGHTS

ADJUSTED NET INCOME2,3 BY BUSINESS SEGMENT ($MM)

1 Includes provision for credit losses on certain assets – loans, acceptances and off-balance sheet exposures2 Refer to Non-GAAP Measures on slide 40 for adjusted results3 Attributable to equity holders of the Bank4 Y/Y growth rate is on a constant dollars basis

-26%-60%4

+33%+7%

-165 -3,053

-92

9,409

143

719

6,961

2019 NII Non interestincome

PCLs Non-interestexpenses

Taxes 2020

ADJUSTED NET INCOME2 YEAR-OVER-YEAR ($MM)

14

902 725314 405782

283 333 460

Canadian Banking InternationalBanking



Q4/19 Q4/20

Q4 2020 Financial Performance

$MM, except EPS Q4/20 Y/Y Q/QReported

Net Income $1,899 (18%) +46%Pre-Tax, Pre Provision Profit $3,448 (6%) (7%)

Diluted EPS $1.42 (18%) +37%Revenue $7,505 (6%) (3%)

Expenses $4,057 (6%) +1%Productivity Ratio 54.1% - +210 bps

Core Banking Margin 2.22% (18 bps) +12 bpsPCL Ratio1 0.73% +23 bps (63 bps)

PCL Ratio on Impaired Loans1 0.54% +5 bps (4 bps)Adjusted2

Net Income $1,938 (19%) +48%Pre-Tax, Pre Provision Profit $3,502 (7%) (6%)

Diluted EPS $1.45 (20%) +39%Revenue $7,505 (6%) (2%)

Expenses $4,003 (5%) +1%Productivity Ratio 53.3% +60 bps +190 bps

• Adjusted EPS2 down 20%; up 39% Q/Q

• Adjusted pre-tax, pre-provision profit2 down 7%, or down 1% excluding impact of divestitures

• Adjusted revenue2 down 6%, or down 2% excluding impact of divestitures

o Net interest income up 1%, excluding divestiture

o Non-interest income down 5%, excluding divestitures

• Core banking margin down 18 bps; up 12 bps Q/Q

o Lower margins due to changes in business mix and the declining interest rate environment, as well as higher liquidity levels

o Core Banking Margin improved sequentially driven by lower levels of liquidity

• Adjusted expenses2 down 5%, or down 3% excluding impact of divestitures

YEAR-OVER-YEAR HIGHLIGHTS

ADJUSTED NET INCOME2,3 BY BUSINESS SEGMENT ($MM)

1 Includes provision for credit losses on certain assets – loans, acceptances and off-balance sheet exposures2 Refer to Non-GAAP Measures on slide 40 for adjusted results3 Attributable to equity holders of the Bank4 Y/Y growth rate is on a constant dollars basis

-13%-60%4

+14%+6%

-78 -379

-378

2,400 194 179

1,938

Q4/19 NII Non interestincome

PCLs Non-interestexpenses

Taxes Q4/20

ADJUSTED NET INCOME2 YEAR-OVER-YEAR ($MM)

15

$1.96

$3.60

09 10 11 12 13 14 15 16 17 18 19 20

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 October 30, 2020.

Earnings per share (C$)1,2

$3.31

$7.14

$5.36

09 10 11 12 13 14 15 16 17 18 19 20

Dividend per share (C$)

+6%

CAGR

Total shareholder return3

2.7%

4.6%

9.0%

6.3%

8.4%9.3%

5 Year 10 Year 20 Year

Scotiabank Big 5 Peers (ex. Scotiabank)

Earnings and Dividend GrowthStrong track record of stable and predictable earnings and growing dividends

2009-2019 CAGR: +8.0%2010-2020 CAGR: +3.2%

16

+3 bps

11.3%

+44 bps -28 bps +34 bps 11.8%-1 bp-4 bps

Q3 2020Reported

Earnings Dividends RWA Impact(ex. FX)

Foreign exchangetranslation

ECL TransitionalCapital Relief

Other (net) Q4 2020Reported

CET1 Ratio

Strong Capital Levels

11.1% 11.4% 10.9% 11.3% 11.8%

1.1% 1.1% 1.0% 1.5% 1.5%2.0% 2.1% 2.1% 2.1% 2.2%

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

CET1 Tier 1 Tier 2

14.0% 14.9%14.2% 14.6% 15.5%

Strong Capital Position

1 Net Income Available to Equity Holders

(1)

Internal capital generation

17

Surpassed medium-term goal of <10% In-Branch Financial Transactions at All-Bank level. Delivered >50% in Digital Sales in the Pacific Alliance region

New Canadian mobile app with simplified layouts, improved discoverability, and enhanced analytics to drive user experience

Improving Customer Pulse scores in our digital channels. Peru reached record levels in digital with 70%+ in October

Launched new digital account opening solutions across all markets integrating Digital and Physical experiences, greatly reducing processing time

Tangerine, Canada’s leading digital bank, continues to see momentum as it evolves from being a Savings Bank to an Everyday Bank

Digital Banking Strength

Digital Retail Sales1 Digital Adoption2

Goal>50%

1115

2228

36

202020192016 2017 2018

+2,500 bps

26 2933

39

48

2016 2017 2018 20202019

+2,200 bps

Goal>70%

In-BranchFinancial Transactions3

2623

2016

8

2016 20182017 2019 2020

-1,800 bps

Goal<10%

1 Canada: F2017 22%, F2018 26%, F2019 26%, F2020 16% PACs: F2017 13%, F2018 19%, F2019 29%, F2020 51%2 Canada: F2017 36%, F2018 38%, F2019 42%, F2020 50% PACs: F2017 20%, F2018 26%, F2019 35%, F2020 46%3 Canada: F2017 17%, F2018 15%, F2019 12%, F2020 7% PACs: F2017 29%, F2018 24%, F2019 19%, F2020 9%

18

$1,200$2,430

$3,710

2010 2015 2020

Technology Strategy

● Build a strong and scalable platform foundation

● Rebalance core technology spending towards modernization

● Cloud-first strategy for automation and speed

● Common systems

● Software re-use, best practice-sharing

● Consistent software design

● Customer-focused micro-services

● Analytics on real-time data

● Strong cyber-security foundation

Investments in Technology

$● Maintain consistent

investment in technology

7.8%

10.1%11.9%

Tech expenseas % of revenue

Tech expense(in $millions)

19

Fintech

Partnerships Proof of Concepts1Focus Areas

• Credit adjudication

• Accessibility

• Natural language processing

• Personal financial management

• Customer experience and self-service

• Machine-learning modelling

• IT Modernization

• Fraud

• Anti-Money Laundering

1 Selected proof of concepts with fintech partners

20

• 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

• 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

• Advanced commitment to UN LGBTI Standards of Conduct for Business as a founding member of the Partnership for Global LGBTI Equality (PGLE)

• Opened our third Gord Downie & ChanieWenjack Fund (DWF) Legacy Space, demonstrating our commitment to promoting education and discussion around indigenous reconciliation

• 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

• In collaboration with Smith School of Business at Queen’s University, and the IEEE, Scotiabank launched the first Trusted Data & AI for Canadian Business certification in Canada, designed for employees to develop foundational knowledge of ethical principles in business decision making, AI applications and processes

Environment, Social & Governance (ESG)Highlights from 2020

Environment Social Governance

1 Since November 1, 2018; 2 As of October 31, 2020

21

Business Line Overview

Canadian Banking

22

Canadian BankingTop 3 bank in personal & commercial banking in Canada

1 For the three months ended October 31, 2020; 2 Reflects the adoption 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; 6 3-5 year target from 2020 Investor Day

$MM FY/20 FY/FYReported

Net Income3 $2,536 (27%)Pre-Tax, Pre Provision Profit $5,488 (4%)

Revenue $10,299 (2%)Expenses $4,811 +1%

PCLs $2,073 +113%Productivity Ratio 46.7% +110 bps

Net Interest Margin4 2.30% (11 bps)PCL Ratio5 0.59% +30 bps

PCL Ratio Impaired Loans5 0.32% +3 bpsAdjusted3

Net Income3 $2,604 (26%)Pre-Tax, Pre Provision Profit $5,510 (4%)

Expenses $4,789 +1%PCLs $2,002 +106%

Productivity Ratio 46.5% +110 bps

902 908 481 433 782

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

Adjusted Net Income3 ($MM) and NIM4 (%)

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.

67%

33%

63%

12%9%2%

14%

Revenue Mix1, 2

$2.6B

Average Loan Mix1

$360B

Business Banking

Retail

AutoBusiness and

Government Loans

Residential Mortgages

Credit Cards

Medium-Term Financial ObjectivesTarget6

NIAT Growth3 5%+

Productivity Ratio <44%

Operating Leverage Positive

Business Mix Financial Results

Other Personal Loans

2.41% 2.36% 2.33% 2.26% 2.26%

23

Canadian Banking: Loan PortfolioHigh quality retail loan portfolio: ~94% secured

1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data2 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 institutions3 Spot Balance as of October 31, 2020; Percentages may not add to 100% due to rounding.

DOMESTIC RETAIL LOAN BOOK3

82%

2%Credit Cards

4%Unsecured

12%Automotive

Real Estate Secured Lending

$325B

• High Quality Residential Mortgage Portfolioo 38% insured; remaining 62% uninsured has an LTV of 52%1

o Mortgage business model is “originate to hold”

o New originations2 in 2020 had average LTV of 64.6%

o Majority is freehold properties; condominiums represent approximately 15% of the portfolio

• Market Leader in Auto Loanso $39.1 billion retail auto loan portfolio with 8 OEM relationships (4 exclusive)

o Prime Auto and Leases (~92%)

o Stable lending tenor with contractual terms for new originations averaging 78 months (6.5 years) with projected effective terms of 54 months (4.5 years)

• Prudent Growth in Credit Cardso $6.4 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

24

Canadian Banking: Residential MortgagesHigh quality, diversified portfolio; Credit fundamentals remain strong

1 FICO ® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporation2 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data3 Includes Wealth Management

Q4/19 Q3/20 Q4/20

CanadaTotal Originations ($B) 13.3 13.0 16.6

Uninsured LTV 65% 64% 64%

Greater Toronto AreaTotal Originations ($B) 4.2 3.7 5.0


Greater Vancouver AreaTotal Originations ($B) 1.6 1.5 1.9


3%9% 10%

15%

63%

< 635 636 - 706 707 - 747 748 - 788 > 788

Average FICO® ScoreCanada 791

GTA 794GVA 792

FICO® Distribution – Canadian Uninsured Portfolio1, 2

$112.5

$34.6 $27.6 $14.8 $10.9 $9.1

$16.6

$12.2$3.8

$2.1 $0.2 $0.7

Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba &Saskatchewan

Canadian Mortgage Portfolio3: $245B (Spot balances as at Q4/20, $B)

% ofportfolio 52.7% 19.1% 12.8% 6.9% 4.5% 4.0%

Freehold - $209B Condos - $36B38%

62%Uninsured

Total Portfolio3:

$245 billion

Insured

$31.4$16.9 $11.1 $9.8

$46.8

$129.1(85%) (15%)

• Four Distinct Distribution Channels: All adjudicated under the same standards o 1. Broker (~58%); 2. Branch (~20%); 3. Mobile Salesforce (~21%) and 4. eHOME (~1%)

25

Automotive FinanceCanada’s leader in automotive finance

• Provide personal and commercial dealer financing solutions, in partnership with seven leading global automotive manufacturers in Canada

• Portfolio increased 1.9% year-over-year1

o Personal up 2.7%, Commercial down 3.7%

1 For the twelve months ended October 31, 2020; 2 CBA data as of July 2020, includes RBC, CIBC, Canadian Western Bank, National Bank, TD, Scotiabank, Laurentian Bank; 3 DealerTrack Portal data, includes all Near-Prime Retail providers on DealerTrack Portal, data for October 2020 originations; 4 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of June 2020

36%

64%

Market Share

23%

77%

27%

73%

Prime Retail Market Share2 Near-Prime Retail Market Share3 Commercial Floorplan Market Share4

Exclusive Relationships

Semi-Exclusive Relationships*

* 1 to 2 other financial institutions comprise Semi-Exclusive relationships

MAZDA VOLVO POLESTAR JAGUAR/LAND ROVER

HYUNDAI CHRYSLER TESLAGM79%

7%

14%

AVERAGE ASSET MIX

$44.4B1

100% Secured

Commercial

Near-Prime Retail

Prime Retail

Asset Growth

$37.1B

$39.7B

$42.3B$43.5B $44.4B

2016 2017 2018 2019 2020

26



27

78%

21%

1%Revenue

Mix1,

$2.5B

4.51% 4.51% 4.28% 3.99% 3.97%

567 556197

52238

158 59

1

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

725 615

197 23853


$MM2 FY/20 FY/FYReported

Net Income3 $980 (64%)Pre-Tax, Pre Provision Profit $4,867 (17%)

Revenue $10,810 (10%)Expenses $5,943 (4%)

PCLs $3,613 87%Productivity Ratio 55.0% 310 bps

Net Interest Margin4 4.18% (36 bps)PCL Ratio5 2.45% 105 bps

PCL Ratio Impaired Loans5 1.49% 19 bpsAdjusted5

Net Income3 $1,148 (61%)Net Income – Ex Divested Ops.3 $1,088 (51%)

Pre-Tax, Pre Provision Profit $5,068 (16%)Expenses $5,742 (5%)

Productivity Ratio 53.1% 290 bps

Adjusted Net Income3,6 ($MM) and NIM4 (%)

Ex. Divested Ops Divested Ops

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

Asia

C&CA

Latin America

55%

25%14%

6% Loan Mix1

$146B

Credit Cards

Personal Loans

Residential Mortgages

Business Loans

1 For the 3 months ended October 31, 2020; 2 Y/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; 4 Net 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; 7 3-5 year target from 2020 Investor Day

Medium-Term Financial Objectives

Financial Results

Target7

NIAT Growth6 9%+



28

PAC Fundamentals Driving Growth

Strong Governance

Sound Macro Environment

Favourable Demographics

● Democratic countries with open economies

● Independent central banks with inflation targets

● Free trade agreements and free-floating currencies

● Business-friendly environments

● Diversified economieswith 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

● 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

29

7.5% 6.9%

-0.9%

1.9%

58.6%

55.0%55.4%

54.4%

Customers ~3.8MM

Employees ~10,700

Branches1 531

Average Loans $31B

Average Deposits $28B

Total NIAT2,5 $345MM

ROE3 10.2%

Productivity3 54.4%

23.2%

14.6% 13.4% 11.7%

7.7% 7.2%4.2% 3.5%

2.0%

BBVA Banorte Santander Banamex Scotiabank

Productivity Ratio

2018 20192017 2020

Market Position by Loans4

738924 978 1,087

Constant currencyAll figures in CAD$ including Wealth Management1 Includes bank and wealth branches; does not include 177 Credito Familiar branches2,3 WY’2020 Adjusted as Reported4 Source: CNBV as of September 20205 Adjusted after NCI

2017 2018 2019

PTPP

+14%CAGR

2020

Business Overview

60%

28%

6%5%2%

Loans$30.9B

Corporate/ Commercial

Scotiabank in Mexico

Operating Leverage

2018 20192017 2020

HSBC Inbursa Bajio Regio

Residential Mortg.

PersonalLoans

AutoCredit Cards

17%83%Secured Unsecured

RetailLoans

30

57%

12%

19%9%

0%2%

Loans$22.4B

1,157 1,2791,508 1,498

Constant currencyAll figures in CAD$ including Wealth Management1 Including subsidiaries2,3 WY’2020 Adjusted as Reported4 Market share as of September 2020. Scotiabank includes SBP, CSF and Caja CAT5 Adjusted after NCI

+9%CAGR

2017 2018 2019 2020

Scotiabank in Peru


33.1%

20.5%16.5%

12.3%

BCP BBVA InterbankScotia

Customers1 ~4.5MM

Employees1 ~11,100

Branches1 311

Average Loans $22B



ROE3 11.4%

Productivity3 35.1%

1.8%

5.0%

6.8%

0.3%

39.3%

37.5%

35.2% 35.1%

Productivity Ratio

2018 20192017 2020

Operating Leverage

2018 20192017 2020

Business Overview

PTPP

Residential Mortg.

PersonalLoansOther


AutoCredit Cards


RetailLoans

31

535789

1,202 1,185

Constant currencyAll figures in CAD$ including Wealth Management1 Includes affiliates & consumer microfinance2,3 WY’2020 Adjusted as Reported4 Market share as of September 2020, Source: CMF5 Adjusted before NCI

+30%CAGR


18.6%16.7%

14.1% 14.0% 13.8%

9.7%

Santander Chile Estado BCI ItaúScotiabank

2017 2018 2019 2020

Scotiabank in Chile

Customers1 ~2.8MM

Employees ~8,000

Branches1 144

Average Loans $46B



ROE3 6.1%

Productivity3 43.3%

8.5%

13.3%

4.3%

0.0%

49.5%

44.7%

43.4% 43.3%

Productivity Ratio

2018 20192017 2020

Operating Leverage

2018 20192017 2020

Business Overview

PTPP

47%

36%

12%5%

0%

Loans$45.9B


Residential Mortg.

PersonalLoans

AutoCredit Cards

79% 21%Secured Unsecured

RetailLoans

32

460 519664

507

Constant currencyAll figures in CAD$ including Wealth Management1 As of October 20202,3 WY’2020 Adjusted as Reported4 Market share as of August 20205 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

+3%CAGR


25.9%

17.0%12.2%

10.3%6.3% 5.5%

4.3%

Bancolombia ScotiabankColpatria

Davivienda Bogotá5 BBVA Occidente5 Popular5

2017 2018 2019 2020

Scotiabank in Colombia

Customers1 ~2.8MM

Employees ~6,800

Branches1 152

Average Loans $11B


Total NIAT2,6 -$35MM

ROE3 -2.8%

Productivity3 59.8%

-6.4%

-1.8%-2.4%

-7.6%

52.6% 53.4%54.5%

59.8%

Productivity Ratio

2018 20192017 2020

Operating Leverage

2018 20192017 2020

Business Overview

PTPP

44%

18%

20%17%

1%

Loans$11.5B


Residential Mortg.

PersonalLoans

Auto

Credit Cards


RetailLoans

33

Thailand: 5% interest in TMB Bank

• Reduced investment in Thailand in Q1/20

China: ~18% interest in Bank of Xi’an

• CAD $926MM carrying value as of September 30, 2020

• CAD $511MM of net income for twelve months ended October 31, 2020

Other RegionsLeading Caribbean & Central American franchise

• 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

AsiaCaribbean & Central America

34



35

88%

12%

87%

13%

13.6% 13.7% 13.8% 14.3% 14.3%


$MM, except AUM/AUA FY/20 FY/FY

Reported

Net Income3 $1,262 +7%

Pre-Tax, Pre Provision Profit $1,706 +7%

Revenue $4,584 +2%

Expenses $2,878 (1%)

PCLs $7 N/A

Productivity Ratio 62.8% (170bps)

Adjusted2

Net Income3 $1,297 +7%

Pre-Tax, Pre Provision Profit $1,766 +6%

Expenses $2,818 (1%)

Productivity Ratio 61.5% (160bps)

1 Figures as of October 31, 2020 or for the 3 months ended October 31, 2020; 2 Adjusted for Acquisition-related costs and impact of additional pessimistic scenario; 3 Attributable to equity holders of the Bank;

4 3-5 year target from 2020 Investor Day

312 318 314 332 3332 -314 318 314

332 333

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

Ex. Divested Ops Divested Ops

Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank’s footprint.


Business Overview1 Financial Results

Target4

Earnings Growth 8%+



Adjusted Net income2,3 ($MM) and ROE2 (%)

$1.2BRevenue

79%

21%AUM AUA$292B $502B

International Canada

36

Award-Winning Investment Management

AUMInvestment Performance Highlights

76%

75%

of assets in the top two quartiles over five-year period –

of core funds in the top two quartiles over five-year period –

193292

2016 2020

+11%CAGR

AUA

404502

2016 2020

+6%CAGR

Award-Winning Advisory

• #2 in 2020 Best Online Brokers (MoneySense Magazine) • #2 bank-owned brokerage firm in the 2020 Investment

Executive Brokerage Report Card • Largest PIC business in Canada • #1 in Y/Y estate, trust and foundation revenue growth

(Investor Economics)• 2021 World’s Best Private Banks awards in Peru and

Bahamas (Global Finance)

• #2 in Retail Mutual Fund Net Sales• Won 20 Lipper Fund Awards – more than any other firm in

2020 (1832 Asset Management)• 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)

Global Wealth ManagementStrong investment performance, increasing scale

37



38

405 451 523600

460

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

13.8% 14.0% 15.4% 17.5% 14.6%

Global Banking and Markets

1 TEB Revenue for the 3 months ended October 31, 2020; 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

Adjusted Net Income2, 3 ($MM) and ROE3 (%)

53%

36%

6%5%

GeographicRevenue1

$1.2B

Europe

Canada

US

Asia

50%

34%

16%Revenue By

Business Line1

$1.2B

Business Banking

FICC

Global Equities

Business Overview

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.

Target5

NIAT Growth ~5%

Productivity Ratio ~50%



Financial Results

$MM FY/20 FY/FYReported

Net Income2 $1,955 +27%Pre-Tax, Pre Provision Profit $2,909 +44%

Revenue $5,382 +20%Expenses $2,473 -

PCLs $390 N/AProductivity Ratio 45.9% (910 bps)

PCL Ratio4 0.35% +37 bpsPCL Ratio Impaired Loans4 0.12% +12 bps

Adjusted3

Net Income2 $2,034 +33%Pre-Tax, Pre Provision Profit $3,011 +49%

Revenue $5,484 +22%PCLs $384 N/A

Productivity Ratio 45.1% (990 bps)

39

GBM in US and Latam

US1 Latam1

$2,141 million Revenue $1,554 million

$47 billion Average Loans $47 billion

$77 billion Average Deposits $21 billion

$896 million Total NIAT $635 million

42.4% Productivity 30.2%

5 Offices 9

1 Figures for fiscal 2020

• Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, Cash Management and Trade Finance

• Top 15 foreign bank organization (FBO) in the US

• 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 /Industrial /Retail (CIR), Technology, and Healthcare

• 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

Delivering the full bank to meet our Americas clients’ needs

Acquisition of 746km transmission lines in Peru (Eteselva and

Etenorte) from

Sole Financial Advisor, Sole Arranger and Sole Bookrunner

US$158,500,000

US$575,000,000

4.375% Notes due 2031

COP 635,519,500,0008.375% Notes due 2027

Joint Bookrunner and Billing & Delivery Bank

US$1,380,000,0004.375% Senior Secured

Notes due 2030

Global Coordinator, Joint Bookrunner, Joint Arranger, and Administrative

Agent

US$105,000,000Term Loan Facility

US$50,000,000Liquidity Facility

has sold a precious metals stream on its Marmato Project to

US$110,000,000

Financial Advisor

40

Risk Overview

41

94%

6%Secured

Unsecured

66%

7%7%5%

5%4%4%2%

Canada

Chile

U.S.

Other International

Mexico

C&CA

Peru

Colombia

0.3%

0.4%

0.4%

0.8%

0.8%

1.0%

1.0%

1.4%

1.6%

2.0%

2.0%

2.3%

2.6%

2.7%

2.8%

4.2%

4.8%

6.0%

Chemicals

Metals

Forest Products

Hospitality and Leisure

Sovereign

Mining

Health Care

Food and Beverage

Transportation

Automotive

Utilities

Agriculture

Energy

Technology and Media

Other

Wholesale and Retail

Financial Services

Real Estate and Construction

Risk Snapshot

1 As at October 31, 20202 % of total loans and acceptances3 As at October 31, 2020

RWA Breakdown1 Credit Exposure by Country2,3 Credit Exposure by Sector1,2

Canadian Banking1,2 International Banking1,2

87%11%

2%Credit Risk

Operational Risk

Market Risk

69%

31%

Secured

Unsecured

$417B $611B1

$325B $67B

Personal & Commercial Lending

42

502 5031,019 1,278

736247 250

670752

3304 18

155149

62

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

2,181

771

1,8462

2

1,1313

7,820

3,482 3,488 4,3625,445 5,682

1,595 1,5331,643

1,776 1,957

6874

74

182 181

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

50 bps 51 bps

119 bps 136 bps

73 bps

TOTAL ACLs ($MM)

+53%

Performing Loan ACLs Impaired Loan ACLs

5,145 5,0956,079

7,403

1 Includes provision for credit losses on debt securities and deposit with banks of $nil in Canadian Banking, -$1 million in International Banking (Q4/19: -$3 million, Q1/20: -$1 million, Q2/20: $1 million), -$1 million in Global Banking and Markets (Q4/19: -$1 million, Q3/20: $1 million), $nil in Global Wealth Management (Q3/20: -$1 million) and $2 million in Other (Q4/19: $1 million, Q1/20: $1 million , Q2/20: -$2 million) 2 Refer to Non-GAAP Measures on slide 40 for adjusted results3 Other includes provisions for credit losses in Global Wealth Management of $3 million (Q3/19: -$1 million, Q1/20: $1 million , Q2/20: $2 million, Q3/20: $1 million)

TOTAL PCLs ($MM)1,2,3 AND PCL RATIO2

753

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 63% since Q1/20, or $2.2 billion

• Total ACLs represents ~3 years worth of net write-off-coverage

• Estimated to cover 2021 pandemic-driven elevated write-offs

HIGHLIGHTS• Total PCL ratio2 of 73 bps increased 23 bps Y/Y;

decreased 63 bps Q/Q

• The sequential improvement was driven by lower PCL on performing loans due to improving macroeconomic outlook and stabilizing credit quality

Well Provisioned

Other

43

ALL BANK1

CANADIAN BANKING1

INTERNATIONAL BANKING1

1 Provision for credit losses on certain assets – loans, acceptances and off-balance sheet exposures

Historical PCL Ratios on Impaired Loans

0.12%0.24%

0.59%

0.47%0.34% 0.36% 0.32% 0.40% 0.42%

0.50%0.45% 0.43%

0.49%0.56%

0.00%0.10%0.20%0.30%0.40%0.50%0.60%0.70%

200

7

200

8

200

9

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

0.19%

0.23%

0.37% 0.35%0.28%

0.23%0.18%

0.23% 0.23%0.28% 0.29%

0.24%0.29% 0.32%

0.00%

0.10%

0.20%

0.30%

0.40%

0.50%

200

7

200

8

200

9

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

0.25%0.44%

0.90% 1.00%

0.75% 0.75%

0.86%

1.27% 1.24% 1.26% 1.21% 1.29% 1.30%1.49%

0.00%0.25%0.50%0.75%1.00%1.25%1.50%1.75%

200

7

200

8

200

9

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Average (2007-2020)

Avg:41 bps

Avg:27 bps

Avg:100 bps

44

84 94 99 105 81

85 96

216 224

106

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

Canadian Retail: Loans and Provisions1

1 Includes Wealth Management. PCL excludes impact of additional pessimistic scenario2 Includes Home Equity Lines of Credit and Unsecured Lines of Credit3 Includes Tangerine balances of $6 billion and other smaller portfolios4 82% secured by real estate; 12% secured by automotive

MORTGAGES AUTO LOANS

LINES OF CREDIT2 CREDIT CARDS

1 0 1 2 21 0 4 4

1Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

72 80

87 74 6570 73

164 169

79

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

379 377 445 401 312

381 385

896 1,002

400

Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps)

Loan Balances Q4/20 Mortgages Auto Loans Lines of Credit2 Credit Cards Total

Spot ($B) $245 $39 $33 $6 $3253

% Secured 100% 100% 64% 3% 94%4

45

554 549 531 471

406579 542 143485 455 377 420

439

939

1,552

738

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q41

199 218

208

163251 250 267

280233 231

203

246 228

550 591

253

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q41

COLOMBIA

120 148 150 154

191

190 238181155 159 155 160

175

279 321

87Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q41

138 156 138 165 170 231 221 195

170 157 141187 178

457556

221

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q41

MEXICO

517

372

545473 471 395 361

764

364

402491

424470

970

1,290

1,322

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q41

1 PCL excludes impact of additional pessimistic scenario2 Adjusted for acquisition-related costs, including Day 1 PCL impact on acquired performing loans3 Excludes impact of divested operations4 Total includes other smaller portfolios

CHILE

PERU

Loan Balances Q4/20 Mexico Peru Chile Colombia Caribbean & CA Total4

Secured ($B) $11 $3 $20 $2 $10 $46Unsecured ($B) $2 $6 $5 $4 $3 $21Spot Total ($B) $13 $9 $25 $6 $13 $67

PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps)

Caribbean & CA

Markets with Greater Weighting to Unsecured

Markets with Greater Weighting to Secured

228 4011

1.8x157 2161

1.4x2212,3 3671,3

1.7x

4222 1,00212.4x

435 9101

2.1x

International Retail: Loans and Provisions

20192

2020

2

2019 2019

2019 2019

2020 2020

2020 2020

46

Sectors Most Impacted by COVID-191

Real Estate – Office and Retail: 1.4%

Total Loans

$625.1B

Most Impacted Sectors as a % of Total Loans Trending Lower

Hospitality & Leisure: 0.8%

Energy – E&P and Oilfield Services: 1.4%

Transportation – Air Travel: 0.5%

Total COVID-19 High Impact: 4.0%

Hospitality & Leisure

56%

13%1%

7%

9%

3%

11%

$8.6B

Real Estate: Office and Retail

Office REIT $1.0 69%

Office Real Estate $3.3 48%

Retail REIT $1.3 97%

Retail Real Estate $2.9 52%

Total2 $8.5 58%

25%

17%

4%

9%

36%

9%

$5.1B(0.8% of total

loans)

Hotels $4.0 24%

Cruise Lines $0.3 0%

Gaming $0.8 1%

Total2 $5.1 20%

(1.4% of total loans)

%IG

Other

U.S.Mexico

Latin America

C&CA

CanadaC&CA

Mexico

Latin America

U.S.

%IG$B

$B

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 sectors2 May not add due to rounding

Transportation: Air Travel12%

54%16%

7%

4%7%

$3.0B(0.5% of total

loans)

Aircraft Finance $1.4 99%

Airlines $0.3 4%

Airports $1.3 75%

Total $3.0 81%

CanadaLatin

America

Mexico

C&CA

Other

Europe

%IG$B

Canada

Other

Europe

4.70%4.10%

4.00%

Q2/20 Q3/20 Q4/20

47

Energy - E&P and OFS Exposure1

1 As of October 31, 2020. Excludes Midstream and Downstream

Loans and Acceptances Outstanding ($B)

% of Total E&Pand OFS

% of Total Loans and Acceptances Outstanding

% Investment Grade

Total Exploration & Production (E&P) 7.2 85% 1.2% 52%Canadian E&P 3.3 39% 0.5% 62%U.S. E&P 0.9 10% 0.1% 14%

Oilfield Services (OFS) 1.3 15% 0.2% 6%

Total E&P and Oilfield Services Exposure 8.5 100% 1.4% 45%

• Total Loans and Acceptances Outstanding reduced by $1.3Bn (13%) vs. Q3

• 45% is rated investment grade. 51% of Total Energy (including Midstream and Downstream) exposure is investment grade.

• Outlook has improved due to the recent increase in oil prices.

• Exploration & Production

• Majority of non-investment grade exposure is to secured reserve-based loans or sovereign owned/controlled entities.

• Oilfield Services

• Majority of non-investment grade exposure is secured. Focused on companies with stronger liquidity and balance sheets.

• ACL coverage in E&P and OFS beyond Stage 3

• Maintained substantial Stage 1&2 ECL built in Q2 and Q3 through expert credit judgement.

0.6

4.3

0.2 0.4

2.0

1.0

E&P and OFS Exposure by Geography

$8.5B(%IG)

Canada (49%)

Latin America

(40%)

U.S.(12%)

Asia(94%)

Europe(62%)

C&CA(0%)

48

Treasury and Funding

49

COVID-19 ResponseMaintained elevated liquidity and access to funding markets

• Continued elevated levels of liquidity, well in excess of regulatory requirements o LCR of 138%, -3% Q/Q and +13% Y/Y

o Pacific Alliance countries ended Q4 with LCRs of 140-200%

o HQLA of $210B, -$18B Q/Q and +$45B Y/Y, is substantially comprised of Level 1 assets

• Reduction in wholesale funding to absorb excess system liquidityo Deposit growth moderated requirement for wholesale funding

o $21B of short term funding maturities allowed to roll off

• Funding metrics continue to benefit from reduced wholesale funding usageo WSF below $200B, down $21.6B Q/Q and $91B since March

o WSF/TA improved Q/Q from 18.9% to 17.6%

• Q4 term issuance activity augmented TLACo Issued $4.3B of term senior funding versus term maturities of $3.2B

o TLAC ratio at 23%, above minimum requirement of 22.5%

501 In addition to the programs listed, there are also CD programs in the following currencies: Yankee/USD, EUR, GBP, AUD, HKD

Funding StrategyDiversified 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

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

CAD Debt & Equity Shelf (senior / subordinated debt, preferred and common shares)Limit – CAD 15 billion

EMTN ShelfLimit – USD 20 billion

START ABS program (indirect auto loans)Limit – CAD 15 billion

Australian MTN programLimit – AUD 8 billion

Singapore MTN programLimit – USD 7.5 billion

Halifax ABS shelf (unsecured lines of credit)Limit – CAD 7 billion

Principal at Risk (PAR) Note shelfLimit – CAD 6 billion

Trillium ABS shelf (credit cards)Limit – CAD 5 billion

USD Bank CP ProgramLimit – USD 35 billion

51

2%Asset-Backed

Securities

Wholesale FundingWholesale funding diversity by instrument and maturity1,6,7

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 Q4/20.7 May not add to 100% due to rounding.

19%

14% Mortgage

Securitization4

Bearer Deposit Notes,Commercial Paper &

Short-Term Certificate of Deposits

2%Asset-Backed

Commercial Paper3

26%Senior Notes 15%

Covered Bonds

5%Subordinated

Debt5

1715

20

86

20

2

9

4

8

23

4

< 1 Year 2 Years 3 Years 4 Years 5 Years 5 Years >

TERM FUNDING MATURITY TABLE(EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION)(CANADIAN DOLLAR EQUIVALENT, $B)

Senior Debt ABS Covered Bonds

$28

$20

$29

$10 $9

$24

16%Bail-inable Notes

1%Deposits from Banks2

$200B

52

$174

$170

$168

$179

$197

$197

$211

$221

$223

$227

$263

$270

$274

Q4/

17

Q1/

18

Q2/

18

Q3/

18

Q4/

18

Q1/

19

Q2/

19

Q3/

19

Q4/

19

Q1/

20

Q2/

20

Q3/

20

Q4/

20

Deposit OverviewStrong growth in personal & business and government deposits

PERSONAL DEPOSITS (SPOT, CANADIAN DOLLAR EQUIVALENT, $B)

PERSONAL DEPOSITS

$200

$201

$204

$211

$215

$222

$225

$223

$225

$224

$235

$244

$246

Q4/

17

Q1/

18

Q2/

18

Q3/

18

Q4/

18

Q1/

19

Q2/

19

Q3/

19

Q4/

19

Q1/

20

Q2/

20

Q3/

20

Q4/

20

• All 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

BUSINESS & GOVERNMENT DEPOSITS1

(SPOT, CANADIAN DOLLAR EQUIVALENT, $B)

1 Calculated as business & government deposits less wholesale funding as per Wholesale Funding Sources table in the MD&A, adjusted for Sub Debt

BUSINESS & GOVERNMENT• Continuing to leverage relationships to

grow deposits

• Focusing on operational, regulatory friendly deposits

3Y CAGR – 7.2%

3Y CAGR – 16.3%

53

Wholesale Funding UtilizationDeclining reliance on wholesale funding, particularly short-term

WHOLESALE FUNDING / TOTAL ASSETS CONTINUED REDUCTION IN WHOLESALE FUNDING

• Driven by central bank liquidity facilities, deposit growth and decline in asset growtho Ceased participation in central bank liquidity facilitieso Opportunistically took advantage of stable funding

markets

MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING

CONTINUED ABSORBTION IN MONEY MARKET FUNDING

• Absorbing central bank liquidity by reducing short term funding balanceso Primarily driven by lower certificate of deposits

36.8% 36.0%

42.2%

21.8%

Q4/

17

Q1/

18

Q2/

18

Q3/

18

Q4/

18

Q1/

19

Q2/

19

Q3/

19

Q4/

19

Q1/

20

Q2/

20

Q3/

20

Q4/

20

23.8% 23.4% 22.9%

17.6%

Q4/

17

Q1/

18

Q2/

18

Q3/

18

Q4/

18

Q1/

19

Q2/

19

Q3/

19

Q4/

19

Q1/

20

Q2/

20

Q3/

20

Q4/

20

54

Liquidity MetricsWell funded Bank with very strong liquidity

• Liquidity Coverage Ratio (LCR)o Maintained elevated levels of liquidity, well in excess of regulatory requirementso Supported by central bank liquidity related to pandemic responseo LCR of 140-200% in Pacific Alliance countries

124% 128% 125% 123% 125% 127% 132%141% 138%

Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

• High Quality Liquid Assets (HQLA)o Substantially comprised of Level 1 assets

o Strong annual growth but moderated Q/Q: -$18B Q/Q(1) and +$45B Y/Y

$144 $158 $158 $160 $165 $168$188

$227$210

Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20

1 May not add due to rounding.

Core Markets:Economic Profiles

Appendix 1

56

COVID-19: Government Responses

Policy Action Canada United States

Mexico Peru Chile Colombia

Policy Rate Cuts(Since March 1, 2020)

150 bps 150 bps 275 bps 200 bps 125 bps 250 bps

Fiscal & Financial Measures

(% of GDP)

17.5% 13.5% 0.7% 20.0%1 17.5%1 2.8%

Key Measures

Liquidity program Wage and payroll support programs - -

Payment deferral programs

Small business and sectoral programs

Loan guarantees - - - Household income

supplementary funds

- - -

Retirement savings withdrawals - - - -

Tax holidays - - - Source: Scotiabank Economics. As of November 14, 2020.1 Includes pension withdrawals and deposit relief

57

Latam: Economic Activity UpdateObserving improvement in economic activity

-50

-40

-30

-20

-10

0

10

20

18 19 20

Chile Colombia Mexico Peru

Latam: Monthly Economic Activity Index Tracker

Sources: Scotiabank Economics, Haver Analytics.

y/y % change

58

Canadian EconomyDiverse sources of growth with a strong balance sheet

-1

0

1

2

3

U.S. Canada Eurozone U.K. Japan

(8.2)(10.8)

(13.0)(14.2) (14.4)

(18.7)(16.5)

(18.7)

-25

-20

-15

-10

-5

0

GE FR IT JN Adv. Econ.

CA* UK US

AN

NU

AL

% C

HA

NG

E

% OF GDP49.0 54.196.1 98.1 106.8 110.0

148.8177.1

Canada* Germany OECD U.K. U.S. France Italy Japan

Sources: Scotiabank Economics, Haver Analytics, Statistics Canada.Forecasts as of Oct 14, 2020.

General Government Net Debt in 2020

% O

F G

DP

Real GDP Growth

2010–2018 2019–2021f

Government Financial Deficits in 2020

CANADIAN GDP BY INDUSTRY

(Aug 2020)3.7%

12.4%20.9%

6.4%

7.5%7.1%

6.1%

15.1% 10.9%

10.0%

Finance, Insurance, & Real Estate

Health & Education

Wholesale & Retail Trade

Manufacturing

Mining and Oil & Gas Extraction

ConstructionPublic Administration

Professional, Scientific,

& Technical Services

Transportation & Warehousing

Other

* Canadian federal deficit reflects Scotiabank Economics’ forecast as of Oct. 14, 2020.Sources: Scotiabank Economics, IMF Fiscal Monitor (October 2020 estimates), CBO.

* Canadian government net debt obtained from Scotiabank Economics’ Federal Economic and Fiscal Snapshot (July 8, 2020).Sources: Scotiabank Economics, IMF Fiscal Monitor (October 2020).

GDP Forecast 2020: GDP Forecast 2021:-5.7% +4.1%

59

Mexican EconomyDiverse economy

Top 5 Trading Partners*

* Trade data updated as of Q2-2020

MEXICAN GDP BY INDUSTRY*

(Q2 2020)

4.9%

19.2%

7.1%

5.4%4.7%2.1%

15.7%16.1%

13.9%


Health & Education

Wholesale & Retail Trade

Manufacturing


ConstructionPublic

Administration




Other

3.9%Natural

Resources

• The Mexican economy reflects a solid mix of commodities, goods production, and services

• Trade remains dominated by the U.S., but Mexico’s diversification agenda is underpinned by 13 free-trade agreements with 47 countries that account for 40% of global GDP and include all G7 countries

United States

55%

Others 23%

Germany 3%South Korea 3%

Canada 3%

China 13%

7.0%

* Q3-2020 real GDP growth -8.6% y/y. Industry GDP breakdown not yet available for Q3-2020.GDP Forecast 2020: GDP Forecast 2021:-9.1% +3.8%

-20-18-16-14-12-10

-8-6-4-20246

17 18 19 20

Other* Net Exports InventoriesInvestment Government ConsumptionReal GDP

Contributions to Mexican GDP Growthy/y % change

*Statistical discrepancy, subject to revision.Sources: Scotiabank Economics, Haver Analytics.

60

Peruvian EconomyResilient economic fundamentals

PERUVIAN GDP BY INDUSTRY

(Q3 2020)

11.4%

2.0%

49.7%

13.0%

6.0%Wholesale and

Retail Trade

Mining, Oil, & Gas

Construction

Electricity & Water

Other

12.3%Manufacturing

5.7%Natural

Resources


United States 16%

Others47%

Japan 4%

Canada 4% South Korea

4%

China 25%

• Peru’s important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals

• Peru has 16 free-trade agreements with 49 countries that account for 66% of global GDP

• Investment is making a consistently strong contribution to GDP, which should make solid growth rates more sustainable in the future



-40

-35

-30

-25

-20

-15

-10

-5

0

5

10

17 18 19 20

Net Exports Inventories

Investment Government

Consumption Real GDP

Contributions to Peruvian GDP Growthy/y % change


61

Chilean EconomyAdvanced economy with wide-ranging trade links

CHILEAN GDP BY

INDUSTRY (Q3 2020)1.2%

10.1%16.1%

5.0%

5.2%17.8%7.7%

8.5% 10.9%

14.0%

Finance, Insurance, & Real Estate Wholesale & Retail Trade

Manufacturing


Construction

Public AdministrationHousing & Personal

Services


Restaurants & Hotels

Other

3.5%Natural Resources


United States

15%

Others 36%

Brazil 5%

Japan 7%

South Korea 3%

China 34%

• Chile’s mix of economic activities reflects its status as an advanced market economy

• Chile’s diversified trading relationships are supported by 23 free-trade agreements with 60 countries that account for 73% of global GDP

• Investment has been a strong contributor to growth in Chile, which should underpin future productivity gains as the economy rebounds from recent social difficulties



-25

-20

-15

-10

-5

0

5

10

17 18 19 20

Net Exports Inventories

Investment Government

Consumption Real GDP

Contributions to Chilean GDP Growthy/y % change


62

Colombian EconomyStrong underlying momentum

COLOMBIAN GDP BY

INDUSTRY(Q2 2020)

7.0%

15.2%15.3%

5.2%

16.4%7.2%

3.0%

9.0% 12.2%

7.6%


Wholesale, Retail Trade, Accommodation & Food Services

Manufacturing

Construction


Public Administration



Information & Communication

Natural Resources

Other

1.9%Arts &

Entertainment


Germany3%

United States

27%Others 42%

Brazil 5%

Mexico 5%

China 17%

• Services account for a rising share of Colombian GDP compared with traditional strengths in extractive industries

• Colombia continues to build on its 11 free-trade agreements with 46 countries that account for 41% of global GDP

• Rising consumption, supported by public spending, reflects an expanding middle class as growth gains momentum and converges toward the economy’s underlying potential



-22

-17

-12

-7

-2

3

8

17 18 19 20

Other* Net Exports Investment

Government Consumption Real GDP

Contributions to Colombian GDP Growth

y/y % change

*Statistical discrepancy, subject to revision.Sources: Scotiabank Economics, Haver Analytics.

Canadian Economic Fundamentals

Appendix 2

64

Canada: Consumer and Business Observing signs of economic recovery

Business Confidence – CFIB Business Barometer

Canada Real Retail SalesCanada Auto Sales

Key Economic Indicators

25

30

35

40

45

50

55

60

65

70

75

11 12 13 14 15 16 17 18 19 20Sources: Scotiabank Economics, CFIB.

index, > 50 = stronger

Headline index

6-month moving average

3-month moving average

Avg. 2011–present

20

40

60

80

100

120

140

Feb Mar Apr May Jun Jul Aug Sep Oct

Auto Sales Housing Starts Employment

Mfg Shipments Retail Sales Manufacturing PMI

Exports

index, Feb 2020 levels = 100

Sources: Scotiabank Economics, Bloomberg.

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

2.0

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21

mn, saar units

Sources: Scotiabank Economics, DesRosiers Automotive Consultants Inc.

60

65

70

75

80

85

90

95

100

105

Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20

Sources: Scotiabank Economics, Statistics Canada.

Feb 2020=100

65

Canada: Housing Market StrengthStrong demand continues to confront insufficient supply

G7 Population Growth

Government Assistance Supporting HouseholdsListings Falling More Rapidly than Sales

0.0

0.5

1.0

1.5

2.0

2.5

20 21 22

%

Sources: Scotiabank Economics, Bank of Canada Financial System Review.

Arrears without existing household support measures

Arrears with existing support measures

% Hypothetical arrears rate on mortgages simulated by BoC for 19% fall in GDP in 2020

Housing Market is Historically Undersupplied

-0.4-0.20.00.20.40.60.81.01.21.41.61.8

08 09 10 11 12 13 14 15 16 17 18 19 20

Canada United StatesEuro Area United KingdomJapan ItalyFrance

Sources: Scotiabank Economics.

annual % change

0.30

0.40

0.50

0.60

0.70

0.80

0.90

84 87 90 93 96 99 02 05 08 11 14 17 20Sources: Scotiabank Economics, Statistics Canada.

1984–present avg.

Ratio of total home completions on 18-month rolling basis relative to population change

30

40

50

60

70

80

90

04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20

Sources: Scotiabank Economics, CREA.

Seller’s Market

Buyer's Market

sa sales-to-new-listing ratio, %

66

-5

0

5

10

15

20

00 02 04 06 08 10 12 14 16 18 20

%, 3-month moving average

y/y % change

Sources: Scotiabank Economics, Bank of Canada.

m/m % change,

SA

Growth in Household Credit

• Total household credit, in annual nominal terms, has slowed considerably since the 2008 peak of 12.2% annually. However, the Q3-2020 growth of 3.5% surpasses that of the last four quarters.

• Consumer loans excluding mortgages (i.e., cards, HELOCs, unsecured lines, auto loans, etc.) fell by 2.2% annually in Q3-2020. Consumer loan growth has trended downward since mid-2000 highs of almost 15% annually, with recent months’ negative growth induced by consumer spending pullbacks.

• Mortgage credit grew at 5.4% annually in Q3-2020 vs the 2008 peak of 13%. Underlying demand coupled with lower five-year rates are driving a rebound in the pace of growth.

HOUSEHOLD CREDIT GROWTH CONSUMER LOAN GROWTH RESIDENTIAL MORTGAGE GROWTH

-20

-15

-10

-5

0

5

10

15

20

25

00 02 04 06 08 10 12 14 16 18 20


m/m % change, SA


y/y % change

-5

0

5

10

15

20

00 02 04 06 08 10 12 14 16 18 20


y/y % change


m/m % change,

SA

Additional Information

Appendix 3

68


1 3-5 year targets from 2020 Investor Day

All-BankObjectives1

EPS Growth 7%+

ROE 14%+


Capital Strong Levels

69

Additional Information

• Toronto Stock Exchange (TSX: BNS)• New York Stock Exchange (NYSE: BNS)

Moody's Investors Services Standard & Poor's Fitch Ratings

Dominion Bond Rating Service

Ltd.

Legacy Senior Debt1 Aa2 A+ AA AA

Senior Debt2 A2 A- AA- AA (low)

Subordinated Debt (NVCC) Baa1 BBB+ - A (low)

Short Term Deposits/Commercial Paper P-1 A-1 F1+ R-1 (high)

Covered Bond Program Aaa Not Rated AAA AAA

Outlook Stable Stable Negative Stable

Scotiabank Credit Ratings

• CUSIP: 064149107 • ISIN: CA0641491075 • FIGI: BBG000BXSXH3• NAICS: 522110

Scotiabank Listings: Scotiabank Common Share Issue Information:

1 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" regime2 Subject to conversion under the bank recapitalization "bail-in" regime

70

ContactInformation

Investor Relations

Philip SmithSenior Vice President416-863-2866

[email protected]

Funding

Sophia SaeedVice President416-933-8869

[email protected]

Rene LoDirector416-866-6124

[email protected]

Tom McGuire Executive Vice President & Group Treasurer

416-860-1688

[email protected]

Mark MichalskiDirector, Strategy & Market Development, Funding

416-866-6905

[email protected]

Christy Bunker SVP, CB & GWM Treasurer, Term Funding

and Capital management

416-933-7974

[email protected]

Tiffany SunSenior Manager416-866-2870

[email protected]

Documents

Q420 Equity Investor Marketing Presentation