Slides
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Investor Presentation August 25, 2026 Meny Grauman, Senior Vice President (meny.grauman@scotiabank.com)
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2 Forward-looking Statements From time to time, our public communications 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 (SEC), 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 2025 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,” “aim,” “achieve,” “foresee,” “forecast,” “anticipate,” “intend,” “estimate,” “outlook,” “seek,” “schedule,” “plan,” “goal,” “strive,” “target,” “project,” “commit,” “objective,” and similar expressions of future or conditional verbs, such as “will,” “may,” “should,” “would,” “might,” “can” and “could” and positive and negative variations thereof. 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 and globally; 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, including relating to the care and control of information, and other risks arising from the Bank’s use of third parties; 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; geopolitical risk (including policies and other changes related to, or affecting, economic or trade matters, including tariffs, countermeasures, tariff mitigation policies and tax-related risks); changes to our credit ratings; the possible effects on our business and the global economy of war, conflicts or terrorist actions and unforeseen consequences arising from such actions; technological changes, including open banking and the use of data and artificial intelligence in our business, and technology resiliency; 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, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; 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; anti-money laundering; disruptions or attacks (including cyberattacks) on the Bank’s information technology, internet connectivity, network accessibility, or other voice or data communications systems or services, which may result in data breaches, unauthorized access to sensitive information, denial of service and potential incidents of identity theft; increased competition in the geographic and business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; environmental, social and governance risks, including climate-related risk, our ability to implement various sustainability-related initiatives (both internally and with our clients and other stakeholders) under expected time frames, and our ability to scale our sustainable-finance products and services; the occurrence of natural and unnatural catastrophic events and claims resulting from such events, including disruptions to public infrastructure, such as transportation, communications, power or water supply; inflationary pressures; global supply-chain disruptions; Canadian housing and household indebtedness; the emergence or continuation of widespread health emergencies or pandemics, including their impact on the local, national or global economies, 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 2025 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 2025 Annual Report under the headings “Outlook”, as updated by quarterly reports. The “Outlook” and “2026 Priorities” 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.sedarplus.ca and on the EDGAR section of the SEC’s website at www.sec.gov. Forward-Looking Statements
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3 Opening Remarks Scott Thomson President & CEO
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4 2.36 2.40 2.45 2.49 2.49 14% 17% 7% 13% 17% (3%) Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Net Interest Margin (%) Y/Y Non-interest income growth All Bank Highlights • Medium-term objectives met o ROE2: 14.1%; adjusted1 14.2% o EPS growth: up 23% Y/Y; adjusted1 up 21% Y/Y o Strong capital position: 13.1% CET13 o Positive operating leverage2 • Shifting business mix is driving higher revenues and returns o Revenues up 11% Y/Y; adjusted1 ex. divestiture1 up 16% Y/Y o Net interest margin up 13 bps Y/Y o Non-interest income up 17% Y/Y • Delivering strong expense management while investing in technology o Productivity ratio2 improved 100 bps Y/Y; adjusted1 120 bps Y/Y • Prioritizing organic capital deployment and buying back shares o Repurchased 8.6 MM shares during the quarter and 19.9 MM shares year-to-date CAPITAL RETURN ($BN) 53.7% 59.4% 54.9% 52.8% 52.7% 53.7% 54.3% 52.3% 52.5% 52.5% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Reported Adjusted IMPROVING EFFICIENCY 1 1. Refer to Non-GAAP Measures section from pages 52 to 63 2. Refer to Glossary on page 64 for the description of the measure 3. This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements EXPANDING NIM 1 AND NIR GROWTH 1 RETURN ON EQUITY 2 12.2% 13.1% 14.1% 12.4% 13.2% 14.2% 18.4% 17.8% 19.4% Q3/25 Q2/26 Q3/26 All Bank - reported All Bank - adjusted Canadian Banking 1 0.2 0.7 0.5 0.7 1.0 1.4 1.4 1.4 1.4 1.41.6 2.0 1.9 2.0 2.4 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Common Dividends Buybacks
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5 • Agreement to acquire MapleMark Bank to support strategic growth in GBM • Ranked 3 rd among peers in long-term retail mutual fund sales4, up from 5th in the same quarter last year • Commercial FX on track for record year as referrals between Canadian Commercial and GBM continue to grow • Partnership between CB and GWM continues to strengthen with YTD closed referrals up 25% Business Line Highlights 1. Refer to Non-GAAP Measures section from pages 52 to 63 2. Refer to Glossary on page 64 for the description of the measure 3. Unless otherwise noted, net income refers to net income attributable to equity holders of the Bank (NIAEH) 4. Securities and Investment Management Association long -term funds basis (ex. Money market funds), as of July 31, 2026, relative to bank peers Grow and scale in priority businesses • In Q3, Canadian Banking sales via digital channels are now 40% of total retail sales, up 840 bps Y/Y and up 180 bps Q/Q • Accelerated enterprise-wide adoption of AI with new Scotia Intelligence capabilities • Premium cards mix made up 45% of new card acquisitions in Q3 versus 34% last year • International retail primary clients up 10% Y/Y Earn primary client relationships Make it easy to do business with us Win as one team • Canadian Banking: o Net income3 up 12% Y/Y o NIM1 up 2 bps Q/Q, 5th sequential increase o Positive year-to-date operating leverage2 of 3.7% o ROE2 up 100 bps Y/Y • International Banking: o Net income3 up 8% Y/Y o NIM1 down 7 bps Q/Q but up 15 bps Y/Y o Positive year-to-date operating leverage2 of 4.1% o ROE2 up 80 bps Y/Y • Global Wealth Management: o Net income3 up 23% Y/Y o Positive net sales for the 8th consecutive quarter o ROE2 up 290 bps Y/Y • Global Banking and Markets: o Net income3 up 37% Y/Y o Record M&A and underwriting and advisory fees o ROE2 up 330 bps Y/Y STRATEGIC HIGHLIGHTS
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6 295 294 74 74 9 10 95 97 473 475 Q2/26 Q3/26 Mortgages Personal Credit cards Business Deposit mix is shifting Our Business Mix is Improving • Deposit mix is shifting, with Demand up 1% Q/Q, while Term is under sector-wide pressure • Personal D2D/Savings are growing (+1% Y/Y), and Business Demand deposit growth (+2% Q/Q) is accelerating CB 1 • Retail loans are up 3% Q/Q, and up 2% Q/Q (constant FX) • Non-retail loans are up 1% Q/Q and down 1% Q/Q (constant FX), as we continue to employ a ‘cash management first’ strategy and pursue thoughtful growth • IB deposits are down 1% Y/Y but up 6% Y/Y (constant FX, ex. divestiture) I B 1 1. May not add due to rounding 2. Refer to Non-GAAP Measures section from pages 52 to 63 Retail growing, while non-retail optimization continues (constant FX2) $ Bn 234 236 135 134 369 370 Q2/26 Q3/26 Demand Term 72 73 73 73 79 81 80 81 151 153 153 153 Q2/26 Q3/26 Q2/26 Q3/26 Reported Constant FX Retail Non-retail Non-mortgage growth showing momentum • Commercial loans showing momentum (+3% Q/Q), with diversified growth across Real Estate, Agriculture, National Accounts and Mid-Market • Small business loan growth is robust (+10% Y/Y and +3% Q/Q), supported by key segment strategies • Credit card growth is improving (+3% Q/Q) with strong purchase volume growth and higher client engagement 4 3 88 95 92 98 Q2/26 Q3/26 Asia Business & Government • Loans are up 7% Q/Q, after a period of optimization, and we expect that trend to continue • Deposits up 9% Q/Q, driven by strong growth from Global Transaction Banking GBM Business & Government loans are growing
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7 Q3/26 Overview Raj Viswanathan Group Head & CFO
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8 Y/Y HIGHLIGHTS Q3 2026 Financial Performance 1. Y/Y ex. divestitures is calculated using Q3/25 ex. divestitures as shown on page 20 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 4. Excludes treasury sourced deposit funding 5. Attributable to equity holders of the bank $MM, except EPS Q3/26 Y/Y Q/Q Y/Y (ex. Divestitures1,2) Reported Net Income 2,953 17% 12% 18% Diluted EPS 2.27 23% 14% Revenue 10,535 11% 7% 16% Expenses 5,556 9% 7% 15% Pre-Tax, Pre-Provision Profit2 4,979 13% 7% 18% Return on Equity3 14.1% 190 bps 100 bps 180 bps Return on Tangible Common Equity2 17.2% 220 bps 120 bps 230 bps Net Interest Margin (NIM)2 2.49% 13 bps 0 bps 18 bps Risk Adjusted Margin (RAM)2 2.04% 11 bps 8 bps 13 bps Productivity Ratio3 52.7% (100 bps) (10 bps) (70 bps) PCL Ratio3 56 bps 1 bp (10 bps) 6 bps PCL Ratio on Impaired Loans3 52 bps 1 bp (9 bps) 5 bps Adjusted2 Net Income 2,973 18% 12% 20% Diluted EPS 2.28 21% 13% Revenue 10,543 11% 7% 16% Expenses 5,540 9% 7% 14% Pre-Tax, Pre-Provision Profit 5,003 14% 7% 18% Return on Equity 14.2% 180 bps 100 bps 170 bps Return on Tangible Common Equity 17.2% 210 bps 120 bps 230 bps Productivity Ratio 52.5% (120 bps) 0 bps (90 bps) REPORTED NET INCOME Y/Y ($MM) • Diluted EPS up 23%; adjusted2 up 21% o Strong PTPP2 growth, partly offset by higher PCLs • Revenue up 11%; adjusted2 up 16% ex. divestitures o NII up 12% ex. divestitures o NIR up 21% ex. divestitures • NIM2 up 13 bps; up 18 bps ex. divestitures o Higher business line margins • RAM2 up 11 bps • Expenses up 9%; adjusted2 up 14% ex. divestitures o Adjusted; higher personnel, and technology costs, and negative foreign exchange impact • YTD operating leverage3 of 11.3%; adjusted2 of 3.9% ex. divestitures • Average loans up 2%; up 4% ex. divestitures • Growth in Canadian Banking and GBM, partly offset by lower International Banking • Average deposits4 up 3%; up 5% ex. divestitures • GBM up 12%, GWM up 16% 373 (467) (38) (118) 2,953 2,527 676 Q3/25 Net Interest Income Non-Interest Income Non-Interest Expenses PCLs Taxes Q3/26 REPORTED NET INCOME 5 BY SEGMENT($MM) 958 417 473 670 1,071 515 647 725 Canadian Banking Global Wealth Management Global Banking and Markets International Banking Q3/25 Q3/2612% 37% 8% 23%
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91. This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements Q/Q CHANGE IN CET1 RATIO (%) 1 Q/Q CHANGE IN RISK WEIGHTED ASSETS ($BN) 1 • The CET1 ratio of 13.1%, decreased by ~20 basis points Q/Q: • Strong capital generation from earnings, partly offset by strong RWA growth from increased lending and underwriting activity • Repurchased 8.6 million shares in the quarter Strong Capital Position 28 bps (23 bps) (6 bps) (20 bps) 3 bps Q2 2026 Reported Earnings less Dividends RWA Changes (Ex. FX) Recall of SRT Share Buybacks FX and Other Q3 2026 Reported Internal capital generation +5 bps 13.3% 13.1% 474.4 7.1 7.4 0.6 0.6 2.4 0.3 0.1 492.9 481.5 Q2 2026 Reported Foreign Currency Translation Q2 2026 (incl. Q3 2026 FX) Book Size Book Quality Model and Methodology Recall of SRT Market Risk Operational Risk Q3 2026 Reported Credit Risk
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10 Canadian Banking REPORTED NET INCOME AND ROE 3 958 941 960 935 1,071 18.4% 17.8% 18.1% 17.8% 19.4% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 NIAEH ROE Equity3,4 $20,624 $20,964 $21,090 $21,515 $21,937 in $MMs $MM Q3/26 Y/Y Q/Q Reported Net Income1 1,071 12% 14% Revenue 3,646 8% 5% Expenses 1,674 5% 3% Pre-Tax, Pre-Provision Profit2 1,972 11% 6% PCLs 498 9% (13%) Net Interest Margin2 2.38% 9 bps 2 bps Productivity Ratio3 45.9% (140 bps) (60 bps) PCL Ratio3 0.42% 2 bps (8 bps) PCL Ratio on Impaired Loans3 0.39% 0 bps (6 bps) • Net Income up 12% o PTPP2 growth of 11% o Impaired PCLs declined Q/Q • Revenue up 8% o NII up 7%; loan growth and margin expansion o NIR up 11%; fee and commission revenue up 9% • NIM2 up 9 bps (up 2 bps Q/Q) o Loan and deposit margin expansion • RAM2 up 7 bps • Expenses up 5% o Higher technology costs • YTD operating leverage3 of 3.7% • Average loans up 3% o Mortgages up 4%, commercial and small business up 3%, cards up 3% • Average deposits down 2% o Personal day-to-day and savings up 1% o Term down year-over-year Y/Y HIGHLIGHTS 1. Unless otherwise noted, net income refers to net income attributable to equity holders of the Bank (NIAEH) 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 4. The bank attributes capital to its business lines on a basis that approximates 11.5% of Basel III common equity capital requi rements which includes credit, market and operational risks and leverage inherent in each business segment NIM 2 AND RAM 2 2.29% 2.30% 2.32% 2.36% 2.38% 1.89% 1.87% 1.83% 1.85% 1.96% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 NIM RAM
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11 Global Wealth Management $MM Q3/26 Y/Y Q/Q Reported Net Income1 515 23% 9% Revenue 1,897 18% 8% Expenses 1,194 16% 7% Pre-Tax, Pre-Provision Profit2 703 22% 9% PCLs 6 67% 62% Productivity Ratio3 62.9% (130 bps) (50 bps) Spot AUM ($Bn)3 474 16% 5% Spot AUA ($Bn)3 856 13% 4% • Net Income up 23% o Canadian earnings up 27% o International earnings up 4% • Revenue up 18% o Higher mutual fund fees, net interest income, and brokerage revenues • Expenses up 16% o Higher volume-related expenses • YTD operating leverage3 of 2.2% • Spot AUM up 16% and AUA up 13% o Market appreciation and higher net sales o Net sales of $3.0 Bn in the quarter 1. Unless otherwise noted, net income refers to net income attributable to equity holders of the Bank (NIAEH) 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 4. The bank attributes capital to its business lines on a basis that approximates 11.5% of Basel III common equity capital requi rements which includes credit, market and operational risks and leverage inherent in each business segment Y/Y HIGHLIGHTS +2% Y/Y +16% Y/Y REPORTED NET INCOME AND ROE 3 417 447 481 474 515 15.7% 16.7% 17.7% 17.9% 18.6% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 NIAEH ROE Equity3,4 $10,552 $10,599 $10,810 $10,840 $10,993 in $MMs 362 401 422 45 49 52407 450 474 Q3/25 Q2/26 Q3/26 591 658 689 163 162 167 754 820 856 Q3/25 Q2/26 Q3/26 SPOT AUM ($BN) SPOT AUA ($BN) +16% Y/Y +17% Y/Y +16% Canada International +13%
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12 Global Banking and Markets $MM Q3/26 Y/Y Q/Q Reported Net Income1 647 37% 41% Revenue 2,014 32% 26% Expenses 1,124 26% 17% Pre-Tax, Pre-Provision Profit2 890 40% 42% PCLs 53 183% 39% Net Interest Margin2 2.09% 32 bps 6 bps Productivity Ratio3 55.8% (270 bps) (480 bps) PCL Ratio3 18 bps 11 bps 4 bps Y/Y HIGHLIGHTS 1. Unless otherwise noted, net income refers to net income attributable to equity holders of the Bank (NIAEH) 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 4. The bank attributes capital to its business lines on a basis that approximates 11.5% of Basel III common equity capital requi rements which includes credit, market and operational risks and leverage inherent in each business segment • Net Income up 37% • Revenue up 32% o Capital Markets up 33% o Business Banking up 30%; record underwriting & advisory revenue, up 88% • NIM2 up 32 bps, mostly from deposits • Expenses up 26% o Higher personnel and technology costs • YTD operating leverage3 of 0.9% • Average business & government loans up 5% (up 7% Q/Q) • Average deposits up 12% (up 9% Q/Q) 473 519 545 457 647 12.6% 14.1% 14.3% 12.4% 15.9% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 NIAEH ROE REVENUE BREAKDOWN ($MM) REPORTED NET INCOME AND ROE 3 Equity3,4 $14,879 $14,664 $15,121 $15,179 $16,138 350 363 398 389 470 695 835 753 748 1,073 485 386 617 455 4711,530 1,584 1,768 1,592 2,014 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Net interest income Net fee and commission revenues Other operating income in $MMs
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13 670 634 717 701 725733 669 737 718 725 14.9% 13.9% 16.0% 16.0% 15.7% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Reported FX Basis Constant Dollar Basis ROE Constant dollar basis2 CFX Ex. divestitures2 $MM Q3/26 Y/Y Q/Q Y/Y Q/Q Y/Y Q/Q Reported Net Income1 725 8% 3% (1%) 1% 6% 1% Revenue 2,948 (2%) 3% (9%) 1% 7% 1% Expenses 1,453 (4%) 6% (10%) 5% 8% 5% Pre-Tax, Pre-Provision Profit2 1,495 0% 0% (8%) (2%) 5% (2%) PCLs 522 (7%) (13%) (15%) (14%) 7% (14%) Net Interest Margin2 4.69% 15 bps (7 bps) Productivity Ratio3 49.3% (100 bps) 140 bps PCL Ratio3 1.38% (1 bp) (28 bps) PCL Ratio on Impaired Loans3 1.34% 5 bps (27 bps) International Banking REPORTED NET INCOME AND ROE 3 NIM 2 AND RAM 2 in $MMs 2 4.54% 4.54% 4.54% 4.76% 4.69% 3.39% 3.34% 3.41% 3.40% 3.55% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 NIM RAM Equity3,4 $17,856 $18,110 $17,836 $17,987 $18,344 Y/Y HIGHLIGHTS (CONSTANT DOLLAR 2 ) 1. Unless otherwise noted, net income refers to net income attributable to equity holders of the Bank (NIAEH) 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 4. The bank attributes capital to its business lines on a basis that approximates 11.5% of Basel III common equity capital requi rements which includes credit, market and operational risks and leverage inherent in each business segment • Net Income down 1%; up 6% ex. divestitures • Revenue down 9%; up 7% ex. divestitures • NIM2 up 15 bps; up 18 bps ex. divestitures • RAM2 up 16 bps • Expenses down 10%; up 8% ex. divestitures o Higher personnel costs • YTD operating leverage3 of 4.1% (reported FX) o YTD 1.9% ex. divestitures (reported FX) • Average loans down 12%; down 1% ex. divestitures o Retail up 5% and non-retail down 7% ex. divestitures • Average deposits down 7%; up 6% ex. divestitures o Personal up 4% and non-personal up 7% ex. divestitures
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14 REPORTED NET INCOME (LOSS) 1 ($MM) ADJUSTED NET INCOME (LOSS) 2 ($MM) HIGHLIGHTS Other • Reported net loss of $50 million • Adjusted2 net loss of $42 million, down $77 million Q/Q o Lower revenues as prior quarter benefitted from higher investment gains Note: The Other segment includes Group Treasury, investments in certain associated corporations, smaller operating segments, inters egment elimination, corporate expenses and other corporate items which are not allocated to a business line. Group Treasury is primarily responsible for balance sheet, liquidity and interest rate risk management, which includes the Bank’s wholesale funding activities. 1. Unless otherwise noted, net income (loss) refers to net income (loss) attributable to equity holders of the Bank 2. Refer to Non-GAAP Measures section from pages 52 to 63 (71) 28 (50) Q3/25 Q2/26 Q3/26 (56) 35 (42) Q3/25 Q2/26 Q3/26
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15 Risk Review Shannon McGinnis Chief Risk Officer
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16 ( 937 ) 7,344 1,018 7,486 65 7,551 Q2/26 Volume Credit Quality Forward Looking Indicators Stage 3 PCL Net Write-Offs Q3/26 Pre FX & Other FX & Other Q3/26 Allowance for Credit Losses 1. Includes ACLs on off-balance sheet exposures and ACLs on acceptances and other financial assets 2. Refer to Glossary on page 64 for the description of the measure 3. Includes modelling enhancements TOTAL ACLS 1 ($MM) AND ACL RATIO 2 HIGHLIGHTS 5,152 5,313 4,898 4,936 5,040 2,234 2,341 2,287 2,408 2,511 7,386 7,654 7,185 7,344 7,551 96 bps 98 bps 94 bps 96 bps 97 bps Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Performing Non-Performing • Total ACL ratio of 97 bps, up 1 bp Q/Q o Performing allowances were $5.0 Bn, up $104 MM Q/Q (+$39 MM ex. F/X) primarily due to the unfavourable macroeconomic outlook on corporate and commercial, and portfolio growth in Canadian and International portfolios, as well as credit migration in Canadian retail o Impaired allowances were $2.5 Bn, up $103 MM Q/Q (+$46 MM excl. F/X) due mainly to corporate and International retailQ/Q ACL MOVEMENT ($MM) 25 10 26 $61 MM 4 bps Performing PCL ratio2 52 bps Impaired PCL ratio2 33
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17 7,608 7,801 2,210 (564 ) (522 ) (1,083 ) 152 HIGHLIGHTS Gross Impaired Loans and Net Write-offs 1. Refer to Glossary on page 64 for the description of the measure 2. Excluding GIL formations related to divestitures, GILs were $2,553 3. Includes small business and corporate GILS ($MM) AND GIL RATIO 1 1,218 1,368 1,605 1,522 1,549 910 911 904 1,096 1,126 2,458 2,567 2,388 2,326 2,423 2,175 2,248 2,013 2,347 2,37043 58 259 221 232 86 92 79 96 101 6,890 7,244 7,248 7,608 7,801 90 bps 93 bps 95 bps 99 bps 100 bps Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 GIL FORMATIONS ($MM) 901 970 1,106 924 923 309 228 191 379 233 1,042 1,063 1,006 854 871 178 157 72 482 106 25 231 1 53 17 40 5 22 24 2,447 2,483 2,611 2,662 2,210 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 CB Retail CB Commercial IB Retail IB Commercial GBM GWM • GIL ratio of 100 bps; up 1 bp Q/Q o Canadian Banking: up $57 MM Q/Q; in retail and commercial portfolio o International Banking: up $120 MM Q/Q; driven by impact of foreign currency translation o Global Banking and Markets: up $11 MM Q/Q GIL CONTINUITY ($MM) (488) Q2/26 Declass. Payments Write- offs FX and Other Q3/26New Formations 2 3
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18 458 487 497 599 522 456 494 576 575 498 19 20 60 38 53 4 4 4 5 6 937 1,005 1,137 1,217 1,079 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 International Banking (ex. Divestitures) Canadian Banking Global Banking and Markets GWM/Other 50 bps 53 bps 60 bps 66 bps 56 bps Q/Q HIGHLIGHTS TOTAL PCLS ($MM) AND PCL RATIO 1 EX. DIVESTITURES $MM $MM Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 All-Bank Impaired 975 1,042 1,103 1,129 1,018 Performing 66 71 73 88 61 Total 1,041 1,113 1,176 1,217 1,079 Canadian Banking Impaired 447 472 553 516 466 Performing 9 22 23 59 32 Total 456 494 576 575 498 International Banking Impaired 525 557 483 578 507 Performing 37 38 53 21 15 Total 562 595 536 599 522 Global Wealth Management Impaired - 3 3 2 6 Performing 4 1 1 2 - Total 4 4 4 4 6 Global Banking and Markets Impaired 3 10 64 33 39 Performing 16 10 (4) 5 14 Total 19 20 60 38 53 Other - - - 1 - Provision for Credit Losses 1. Refer to Glossary on page 64 for the description of the measure • Total PCL ratio1 of 56 bps, down 10 bps o Performing of 4 bps, down 1 bp o Impaired of 52 bps, down 9 bps • Canadian Banking (42 bps, down 8 bps) o Performing of 3 bps; portfolio growth and unfavourable macroeconomic outlook o Impaired of 39 bps, down 6 bps; lower retail provisions, partly offset by commercial • International Banking (138 bps, down 28 bps) o Performing of 4 bps; portfolio growth o Impaired of 134 bps, down 27 bps; elevated provisions in the prior quarter • Global Banking and Markets (18 bps, up 4 bps): o Performing of 5 bps; unfavourable macroeconomic outlook o Impaired of 13 bps, up 1 bp; mainly driven by new formations in Canada
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19 Appendix 1 2 3 4 5
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20 All Bank: Impact of Closed Divestitures1 1. For further details, please refer to Note 19 of the condensed interim consolidated financial statements in the Q3 2026 Quarterly Report to Shareholders 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure All Bank All Bank (ex. Divested Operations) $MM, Reported FX Q3/25 Q2/26 Q3/26 Y/Y Q/Q Q3/25 Q2/26 Q3/26 Y/Y Q/Q Reported Net interest income 5,493 5,521 5,866 7% 6% 5,241 5,521 5,866 12% 6% Non-interest income 3,993 4,316 4,669 17% 8% 3,843 4,316 4,669 21% 8% Revenue 9,486 9,837 10,535 11% 7% 9,084 9,837 10,535 16% 7% Expenses 5,089 5,189 5,556 9% 7% 4,849 5,189 5,556 15% 7% Pre-Tax, Pre-Provision Profit2 4,397 4,648 4,979 13% 7% 4,235 4,648 4,979 18% 7% PCLs 1,041 1,217 1,079 4% (11%) 937 1,217 1,079 15% (11%) Income Tax Expense 829 799 947 14% 19% 805 799 947 18% 19% Net Income 2,527 2,632 2,953 17% 12% 2,493 2,632 2,953 18% 12% Net Income to Equity Holders 2,447 2,595 2,908 19% 12% 2,420 2,595 2,908 20% 12% Return on Equity3 12.2% 13.1% 14.1% 190 bps 100 bps 12.3% 13.1% 14.1% 180 bps 100 bps Net Interest Margin2 2.36% 2.49% 2.49% 13 bps 0 bps 2.31% 2.49% 2.49% 18 bps 0 bps Productivity Ratio3 53.7% 52.8% 52.7% (100 bps) (10 bps) 53.4% 52.8% 52.7% (70 bps) (10 bps) PCL Ratio3 0.55% 0.66% 0.56% 1 bp (10 bps) 0.50% 0.66% 0.56% 6 bps (10 bps) PCL Ratio on Impaired Loans3 0.51% 0.61% 0.52% 1 bp (9 bps) 0.47% 0.61% 0.52% 5 bps (9 bps) Effective tax rate3 24.7% 23.3% 24.3% (40 bps) 100 bps 24.4% 23.3% 24.3% (10 bps) 100 bps Adjusted2 0 Net interest income 5,493 5,521 5,866 7% 6% 5,241 5,521 5,866 12% 6% Non-interest income 4,001 4,324 4,677 17% 8% 3,851 4,324 4,677 21% 8% Revenue 9,494 9,845 10,543 11% 7% 9,092 9,845 10,543 16% 7% Expenses 5,095 5,171 5,540 9% 7% 4,855 5,171 5,540 14% 7% Pre-Tax, Pre-Provision Profit 4,399 4,674 5,003 14% 7% 4,237 4,674 5,003 18% 7% Net Income 2,518 2,652 2,973 18% 12% 2,484 2,652 2,973 20% 12% Net Income to Equity Holders 2,475 2,615 2,928 18% 12% 2,448 2,615 2,928 20% 12% Return on Equity 12.4% 13.2% 14.2% 180 bps 100 bps 12.5% 13.2% 14.2% 170 bps 100 bps Productivity Ratio 53.7% 52.5% 52.5% (120 bps) 0 bps 53.4% 52.5% 52.5% (90 bps) 0 bps Effective tax rate3 25.0% 23.3% 24.2% (80 bps) 90 bps 24.7% 23.3% 24.2% (50 bps) 90 bps Average Balances ($Bn) Loans and acceptances 765 766 776 2% 1% 747 766 776 4% 1% Deposits 949 983 1,014 7% 3% 931 983 1,014 9% 3% • On December 1, 2025, the Bank completed the previously announced sale of its banking operations in Colombia, Costa Rica and Panama to Davivienda Group S.A. o The transaction impacted both International Banking and Global Wealth Management • On February 28, 2025, the Bank completed the sale of CrediScotia Financiera S.A. (CrediScotia), a wholly-owned consumer finance subsidiary in Peru, to Banco Santander S.A. (Espana), which was announced in fiscal 2024 • The below shows earnings as reported, as well as the pro forma earnings excluding forgone income from the above transactions
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21 International Banking: Impact of Closed Divestitures1 • On December 1, 2025, the Bank completed the previously announced sale of its banking operations in Colombia, Costa Rica and Panama to Davivienda Group S.A. • On February 28, 2025, the Bank completed the sale of CrediScotia Financiera S.A. (CrediScotia), a wholly-owned consumer finance subsidiary in Peru, to Banco Santander S.A. (Espana), which was announced in fiscal 2024 • The below shows earnings as reported, as well as the pro forma earnings excluding forgone income from the above transactions International Banking Reported FX Ex. Divested Operations Ex. Divested Operations Constant Dollar2 $MM Q3/25 Q2/26 Q3/26 Y/Y Q/Q Q3/25 Q2/26 Q3/26 Y/Y Q/Q Q3/25 Q2/26 Q3/26 Y/Y Q/Q Reported Net interest income 2,245 2,094 2,192 (2%) 5% 1,997 2,094 2,192 10% 5% 2,127 2,126 2,192 3% 3% Non-interest income 758 765 756 0% (1%) 614 765 756 23% (1%) 641 780 756 18% (3%) Revenue 3,003 2,859 2,948 (2%) 3% 2,611 2,859 2,948 13% 3% 2,768 2,906 2,948 7% 1% Expenses 1,511 1,370 1,453 (4%) 6% 1,277 1,370 1,453 14% 6% 1,349 1,388 1,453 8% 5% PTPP2 1,492 1,489 1,495 0% 0% 1,334 1,489 1,495 12% 0% 1,419 1,518 1,495 5% (2%) PCLs 562 599 522 (7%) (13%) 458 599 522 14% (13%) 488 607 522 7% (14%) Income Tax Expense 219 154 207 (5%) 35% 196 154 207 6% 35% 209 158 207 (1%) 31% Net Income 711 736 766 8% 4% 680 736 766 13% 4% 722 753 766 6% 1% NIAEH 670 701 725 8% 3% 646 701 725 12% 3% 687 718 725 6% 1% Return on Equity3 14.9% 16.0% 15.7% 80 bps (30 bps) 15.4% 16.0% 15.7% 30 bps (30 bps) Net Interest Margin2 4.54% 4.76% 4.69% 15 bps (7 bps) 4.51% 4.76% 4.69% 18 bps (7 bps) Productivity Ratio3 50.3% 47.9% 49.3% (100 bps) 140 bps 49.0% 47.9% 49.3% 30 bps 140 bps PCL Ratio3 1.39% 1.66% 1.38% (1 bp) (28 bps) 1.26% 1.66% 1.38% 12 bps (28 bps) PCL Ratio on Impaired Loans3 1.29% 1.61% 1.34% 5 bps (27 bps) 1.17% 1.61% 1.34% 17 bps (27 bps) Effective tax rate3 23.6% 17.3% 21.3% (230 bps) 400 bps 22.3% 17.3% 21.3% (100 bps) 400 bps Average Balances ($Bn) 4 Loans 165 151 153 (7%) 2% 148 151 153 4% 2% 155 153 153 (1%) 0% Retail 83 79 81 (3%) 3% 72 79 81 12% 3% 77 80 81 5% 2% Non-retail 82 72 73 (11%) 1% 76 72 73 (4%) 1% 78 73 73 (7%) (1%) Deposits 130 125 128 (1%) 3% 114 125 128 12% 3% 121 127 128 6% 1% Personal 41 38 39 (4%) 3% 36 38 39 10% 3% 38 39 39 4% 1% Non-personal 89 87 89 0% 2% 79 87 89 13% 2% 83 88 89 7% 1% 1. For further details, please refer to Note 19 of the condensed interim consolidated financial statements in the Q3 2026 Quarterly Report to Shareholders 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 4. May not add due to rounding
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22 Strong Balance Sheet Metrics 1. The regulatory ratios and measures are calculated in accordance with the Office of the Superintendent of Financial Institutio ns (OSFI) Guidelines on Capital Adequacy Requirements, Total Loss Absorbing Capacity, Leverage Requirements and Liquidity Adequacy Requirements (LAR) 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to T34 of Management’s Discussion & Analysis in the Bank’s Third Quarter Report to Shareholders for further detail 4. Excludes treasury sourced deposit funding $Bn (unless indicated otherwise) Q3/25 Q2/26 Q3/26 Y/Y Capital Metrics1 CET1 Ratio 13.3% 13.3% 13.1% (20 bps) Tier 1 Capital Ratio 15.2% 15.4% 15.1% (10 bps) Total Capital Ratio 16.9% 17.0% 16.9% 0 bps TLAC Ratio 29.0% 28.6% 28.6% (40 bps) Leverage Ratio 4.5% 4.3% 4.3% (20 bps) TLAC Leverage Ratio 8.6% 8.0% 8.2% (40 bps) CET1 Capital 61.6 63.0 64.5 5% Liquidity Metrics1 Liquidity Coverage Ratio 126% 124% 126% 0 bps Net Stable Funding Ratio 120% 116% 116% (400 bps) High Quality Liquid Assets 262 290 311 19% Balance Sheet Metrics Loan-To-Deposit Ratio2 104% 105% 103% (100 bps) Wholesale Funding3/Total Assets (Spot) 18.8% 19.6% 19.5% 70 bps Average Total Earning Assets2 1,332 1,394 1,457 9% Average Total Net Loans and Acceptances 757 759 769 2% Average Deposits2,4 725 723 744 3%
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23 249 bps 249 bps 1 bp 1 bp ( 2bps) Q2/26 CB IB GBM Q3/26 2,641 2,703 2,837 2,207 2,087 2,154 408 433 477 380 471 520 5,493 5,521 5,866 (143) (173) (122) Q3/25 Q2/26 Q3/26 CB - Core IB - Core GBM - Core Other - Core Non-Core 10% Net Interest Income and Net Interest Margin 458 471 473 193 180 182 91 88 90 204 200 209 386 455 503 1,332 1,394 1,457 Q3/25 Q2/26 Q3/26 CB - Core IB - Core GBM - Core Other - Core Non-Core 1. Net interest margin is a non -GAAP ratio that is used to measure the return generated by the Bank’s core earning assets, net of the cost of funding. Net interest margin is calculated as core net interest income divided by average core earning assets. Refer to Non-GAAP Measures section from pages 52 to 63 2. Other – includes GWM and Other Segment 3. Other – Non-Core includes trading assets, securities under repo agreements and other non -core assets HIGHLIGHTS NII BY BUSINESS LINE ($MM) AVERAGE EARNING ASSETS 1 ($BN) CORE NET INTEREST MARGIN (NIM) 1 Q/Q 6% 11% 3% 5% 5% 4% 1% 0% Y/Y 7% 37% (2%) 7% 2% (5%) Q/QY/Y 9% 3% 1 31 3% 1 3 17% 1,2 2 (1%) • NIM o Q/Q: flat • Higher CB loan and deposit margins, offset by seasonally higher margins in IB in the prior quarter o Y/Y: up 13 bps; up 18 bps ex. divestitures • Higher business line margins • Net interest income (NII) o Q/Q: up 6% • Loan growth, higher net interest from capital markets activities, and impact of three additional days o Y/Y: up 7%; up 12% ex. divestitures • Higher NIM, the positive impact of FX and loan growth
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24 476 bps (3 bps) (4 bps) 469 bps Q2/26 Mexico, Peru, Chile Brazil & Other Q3/26 2.36% 2.40% 2.45% 2.49% 2.49% 2.29% 2.30% 2.32% 2.36% 2.38% 1.77% 1.91% 2.14% 2.03% 2.09% 4.54% 4.54% 4.54% 4.76% 4.69% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 All Bank Canadian Banking Global Banking & Markets International Banking Risk Adjusted Margin and Net Interest Margin 1. Refer to Non-GAAP Measures section from pages 52 to 63 CANADIAN BANKING NIM 1 INTERNATIONAL BANKING NIM 1 1.93% 1.94% 1.95% 1.96% 2.04% 1.89% 1.87% 1.83% 1.85% 1.96% 1.70% 1.82% 1.86% 1.86% 1.86% 3.39% 3.34% 3.41% 3.40% 3.55% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 NET INTEREST MARGIN (NIM) 1RISK ADJUSTED MARGIN (RAM) 1 236 bps 1 bp 1 bp 0 bps 238 bps Q2/26 Retail Banking Business Banking Tangerine Q3/26
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25 KeyCorp Earnings Contribution 1. BNS’ pro-rata share of ~14.9% of KeyCorp’s earnings based on US GAAP reported earnings, converted to CAD 2. Acquisition accounting impacts under IFRS, including the amortization of certain fair value adjustments and intangible assets 3. Refer to Non-GAAP Measures section from pages 52 to 63 4. May not add due to rounding $MM (unless otherwise stated) Q4/254 Q1/26 Q2/26 Q3/26 Financial Statement Line BNS share of KeyCorp Earnings1 94 98 99 98 Income from Investments in Associate Purchase Accounting Impact, pre-tax2 23 24 24 24 Income from Investments in Associate Equity pick-up, pre-tax 117 122 123 122 Income from Investments in Associate Taxes on equity pick-up (6) (6) (6) (6) Income Taxes Funding costs and other, net of taxes (37) (35) (40) (34) Net Interest Income, Non-Interest Income and Income Taxes Total Contribution 74 81 77 82 Amortization of acquired intangibles3 9 8 8 8 Income from Investments in Associate Total contribution (adj) 3 82 89 85 90 Earnings per share contribution $0.06 $0.07 $0.06 $0.07 Earnings per share contribution (adj) 3 $0.07 $0.07 $0.07 $0.07 KEYCORP
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26 Interest Rate Sensitivity and Outlook • Impact of an immediate and sustained 100 bps parallel shift on net interest income (NII) over a 12-month period o +100 bps: $222 million increase in NII o -100 bps: $217 million decrease in NII o Above scenarios assume a static balance sheet and no management actions 1 • ~$63MM increase in NII over a 12-month period from a 25 bps decrease in short-term rates2 assuming a constant balance sheet o Deposit pricing dynamics and shifting customer preference can impact sensitivity NET INTEREST INCOME SENSITIVITY 1 POLICY RATE CHANGE AND OUTLOOK 3 Country Policy rate on Rate Change by BNS Fiscal Quarters (bps) Current Forecast Policy Rate Oct 31/21 F22 F23 F24 F25 Q1/26 Q2/26 Q3/26 QTD Q4/26 Policy Rate Sep 30/26 Dec 31/26 Mar 31/27 Jun 30/27 Canada 0.25% +350 +125 (125) (150) - - - - 2.25% 2.25% 2.75% 3.00% 3.00% U.S. 0.25% +300 +225 (50) (100) (25) - - - 3.75% 3.75% 3.75% 3.50% 3.25% Mexico 4.75% +450 +200 (75) (300) (50) (25) (25) - 6.50% 6.50% 6.50% 6.50% 6.50% Peru 1.50% +550 +25 (200) (100) - - - - 4.25% 4.25% 4.25% 4.25% 4.25% Chile 2.75% +850 (225) (375) (50) (25) - - - 4.50% 4.50% 4.50% 4.25% 4.25% 1. Additional detail regarding non -trading interest rate sensitivity can be found on page 44 of the Management’s Discussion & Analysis in the Bank’s Third Quarter Report to Shareholders 2. Represents the 12-month revenue exposure (before -tax) to a 25 bps decrease in overnight to 1Y rates 3. Sources: Scotiabank Economics, Bank of Canada, Federal Reserve, Banco de México, BCRP, BCCH. Canada and U.S. forecasts as of July 13, 2026, and Latam forecasts as of July 31, 2026 4. As at August 6th, 2026 HISTORICAL INTEREST RATE ENVIRONMENT AND OUTLOOK 4 0.0 1.0 2.0 3.0 4.0 5.0 6.0 Jul-21 Jul-22 Jul-23 Jul-24 Jul-25 Jul-26 Jul-27 Canada & US (%) BoC Overnight Rate CAD 5-Yr Swap Rate Fed Funds Rate USD 5-Yr Swap Rate 0.0 2.0 4.0 6.0 8.0 10.0 12.0 Jul-21 Jul-22 Jul-23 Jul-24 Jul-25 Jul-26 Jul-27 Mexico & Chile (%) Bank of Mexico Overnight Rate MXN 5-Yr Swap Rate Bank of Chile Monetary Policy Rate CLP 5-Yr Swap Rate
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27 2026 2027 2028 Mexico Midterm Legislative, Judicial, and State Elections Chile Regional and Municipal Elections (October) Peru Regional and Municipal Elections (October) REAL GDP (ANNUAL % CHANGE) Country 2010-20 Average 2023 2024 2025 Forecast1 2026 2027 Q1 Q2E2 Q3F Q4F Full Year Q1F Q2F Q3F Q4F Full Year Canada 1.6 2.0 2.0 1.9 (0.1) 0.9 1.0 1.9 0.9 2.5 2.1 2.1 1.9 2.2 U.S. 2.0 2.9 2.8 2.1 2.7 2.1 1.5 1.8 2.0 1.8 1.8 1.9 2.1 1.9 Mexico 1.4 3.1 1.5 0.5 0.2 2.1 0.5 0.8 0.9 1.7 1.2 0.4 0.5 1.0 Chile 2.5 0.7 2.8 2.5 (0.3) (0.2) 2.8 3.2 1.5 4.6 4.4 2.5 0.8 3.0 Peru 3.1 (0.4) 3.5 3.4 3.6 2.6 3.6 3.4 3.5 3.7 3.4 2.8 3.1 3.3 ELECTIONS IN THE REGION GDP in Core Markets 1. Sources: Scotiabank Economics, Statistics Canada, BEA, INEGI, BCCH, BCRP. Canada and U.S. forecasts as of July 13 , 2026, and Latam forecasts as of July 31, 2026 2. Q2-2026 GDP data for Canada is an estimate as of August 24, 2026
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28 Elevate Client Experience • Customer facing teams providing faster responses to questions • AI-powered customer chatbots • More personalized customer offers and experiences Deliver Speed and Efficiency • Knowledge agents accelerate access to institutional knowledge. • Proactive email assessment and routing • AI-powered credit card pre-approval decisioning and offer personalization Enhance Risk Management • Validation of customer records • Improved AML risk detection • Scaled compliance monitoring …with security, governance, and trust built into every layer of the platform by design Scotia Intelligence – the bank’s unified platform for turning Data & AI into enterprise decisions at scale… 17% Q/Q increase in use of AI by employees to answer customer questions 95% adoption rate in Scotia Navigator 4x increase in Scotia Navigator Assistive AI actions taken 80+% of our global workforce have completed at least one AI course AI in Action Across the Bank
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29 Definitions Digital Unit Sales: % of retail unit sales using only Digital platforms, sales figures excludes auto, broker -originated mortgage s, and mutual funds. Canadian Digital Unit Sales excludes digitally assisted sales Digital Adoption: % of customers with Digital login (90 days) / Total addressable Customer Base Active Digital Users: # of customers who logged into the website and/or mobile in the last 90 days Active Mobile Users: # of customers who logged into mobile in the last 90 days 1. International includes Mexico, Chile, Peru, Uruguay and all Caribbean markets except Bahamas Digital Progress INTERNATIONAL BANKING 1 DIGITAL UNIT SALES (%) +20 bps ACTIVE DIGITAL USERS (MM) 4.2 4.2 Q3/25 Q3/26 0% 50.9 50.3 Q3/25 Q3/26 DIGITAL ADOPTION (%) (60 bps) 3.9 4.0 Q3/25 Q3/26 ACTIVE MOBILE USERS (MM) +2% 49.3 49.5 Q3/25 Q3/26 DIGITAL PROGRESS CANADIAN BANKING DIGITAL UNIT SALES (%) ACTIVE DIGITAL USERS (MM) DIGITAL ADOPTION (%) ACTIVE MOBILE USERS (MM) +840 bps 32 40 Q3/25 Q3/26 5.1 5.3 Q3/25 Q3/26 +2.9% 66.8 67.2 Q3/25 Q3/26 +40 bps 4.6 4.8 Q3/25 Q3/26 +4.0% Canadian Banking • Digital continues to be a strategic growth engine for the Bank, with digital sales reaching 40.0% of total sales, +840 bps Y/Y and +180 bps Q/Q • Mobile-led engagement remains a key driver of Scotiabank’s digital strategy, with active mobile users increasing +4.0% Y/Y and supporting stronger client adoption of digital banking • Launched a first-to-market digital bill payment receipt capability, driving client convenience and self-serve adoption with ~30M receipts generated to date International Banking • Enhanced digital onboarding and origination capabilities in Mexico, further digitizing customer acquisition and servicing journeys while strengthening self-service and sales capabilities. • Expanded embedded insurance capabilities in the Caribbean, enabling seamless integration of protection products into digital credit card origination and supporting deeper customer relationships.
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30 Revenue Growth 1. May not add due to rounding; all percentage changes are Y/Y 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. GBM International Banking revenue contribution and assets are reported in International Banking’s results GLOBAL BANKING AND MARKETS 1,3 INTERNATIONAL BANKING 1 in $MM CANADIAN BANKING 1 in $MM 2,490 2,565 2,670 881 918 977 3,371 3,483 3,646 Q3/25 Q2/26 Q3/26 +8% Retail Banking Business Banking 11% Y/Y 7% Y/Y 1,388 1,538 1,658 216 222 239 1,604 1,760 1,897 Q3/25 Q2/26 Q3/26 GLOBAL WEALTH MANAGEMENT 1 Canada International in $MM 10% Y/Y 20% Y/Y +18% 690 670 899 289 382 515551 540 6001,530 1,592 2,014 Q3/25 Q2/26 Q3/26 GLOBAL BANKING AND MARKETS 1,3 Business Banking Global Equities FICC in $MM 9% Y/Y 30% Y/Y 78% Y/Y +32% 2,033 2,295 2,354 567 553 58611 11 8392 0 0 3,003 2,859 2,948 Q3/25 Q2/26 Q3/26 Constant FX ex. divestiture2: +7% Y/Y 15% Y/Y 3% Y/Y Latin America Caribbean Central America Divested Operations (2%)
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31 53.7 52.753.7 52.5 52.5 47.3 45.9 50.3 49.3 58.5 55.8 64.2 62.9 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 All Bank - Reported All Bank - Adjusted Canadian Banking International Banking Global Banking and Markets Global Wealth Management Non-Interest Expense EXPENSES BY BUSINESS LINE PRODUCTIVITY RATIO 3 (%) $MM Q3/26 Y/Y Q/Q Salaries and Benefits 2,073 8% 5% Performance and share-based Compensation 976 32% 22% Technology 739 10% 6% Depreciation and Amortization1 398 (2%) (3%) Premises 143 4% 1% Communications 88 (1%) (3%) Advertising & Business Development 201 19% 12% Professional 199 (6%) 13% Business and Capital Taxes 155 (13%) (6%) Other1 584 3% 6% Total Expenses (Reported) 5,556 9% 7% Total Expenses (Adjusted1,2) 5,540 9% 7% $MM Q3/26 Y/Y Q/Q Canadian Banking 1,674 5% 3% International Banking 1,453 (4%) 6% Global Wealth Management 1,194 16% 7% Global Banking and Markets 1,124 26% 17% Other 111 88% (7%) Total 5,556 9% 7% International Banking (constant dollar2) 1,453 (10%) 5% NON - INTEREST EXPENSE HIGHLIGHTS 2 1. Total Q3/26 adjusting items of $16 million are recorded in Depreciation and Amortization, total Q2/26 adjusting items of $18 million are recorded in Depreciation and Amortization , total Q3/25 adjusting items of ($6) million are recorded in Other (gain of $23 million) and Depreciation and Amortization ($17 million) 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure Y/Y • Reported up 9% • Adjusted2 up 9%; up 14% ex. divestitures o Higher performance and share-based comp primarily related to higher business volume and profitability, higher technology and personnel costs, and the negative impact of foreign exchange o Technology-related expenses (including personnel costs, professional & direct technology costs) of $1.5 Bn is up $197 million (+16%) ex. divestitures Q/Q • Reported up 7% • Adjusted2 up 7% o Higher performance and share-based comp primarily related to higher business volume and profitability, higher technology, advertising and business development costs, and impact of 3 additional days
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32 Average Loans by Business Line 1. May not add due to rounding 2. Refer to Non-GAAP Measures section from pages 52 to 63 INTERNATIONAL BANKING 1 GLOBAL BANKING AND MARKETS Mortgages Personal loans Credit cards Business Loans and Acceptances CANADIAN BANKING 1 Growth Y/Y 3% 3% 3% Q/Q 0% 1% 0% +3% in $Bn 284 295 294 74 74 74 9 9 10 94 95 97 461 473 475 Q3/25 Q2/26 Q3/26 94 92 98 Q3/25 Q2/26 Q3/26 GLOBAL BANKING AND MARKETS (14%) (4%) 5% (3%) 1% 7% +5% in $Bn (4%) (10%) (7%) (2%) (5%) 2% 55 54 55 20 18 19 8 7 7 82 72 73 165 151 153 Q3/25 Q2/26 Q3/26 (7%) In $Bn Constant FX2 ex. divestitures: (1%) Y/Y
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33 29 29 28 26 26 53 53 50 47 47 82 82 78 72 73 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 72 73 71 74 80 22 20 20 19 19 94 93 91 92 98 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 35 35 35 36 37 59 58 58 59 60 94 94 93 95 97 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Average Business Banking Loans 1. Refer to Non-GAAP Measures section from pages 52 to 63 2. Refer to T35 in the Bank’s 2025 Annual Report for mapping internal ratings scale to external rating agencies; n on-investment grade includes non -investment grade, watch -list and default exposure; prior period amounts have been restated to conform with current period presentation 3. May not add due to rounding Investment Grade2 38% 38% 38% 38% 38% Non- Investment Grade2 62% 62% 62% 62% 62% 35% 35% 36% 35% 35% 65% 65% 64% 65% 65% in $Bn In $Bn +3% 3% Y/Y 5% Y/Y (11%) Y/Y (12%) Y/Y 77% 78% 78% 80% 81% 23% 22% 22% 20% 19% in $Bn Investment Grade Non-Investment Grade (12%) Y/Y 10% Y/Y Constant FX1 ex. divestitures: (7%) Y/Y +5%(11%) CANADIAN BANKING 3 INTERNATIONAL BANKING 3 GLOBAL BANKING AND MARKETS 3
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34 37 38 38 40 41 2022 2023 2024 2025 Q3/26 Digital Healthcare Lawyers Franchising PRIORITY SEGMENTS • Small business banking provides support to small & medium enterprise owners with specialized products and services • Focused on sales force effectiveness – using a virtual salesforce to optimize cost-to-serve • Seamless client onboarding and digitized core servicing processes • 3-year revenue growth CAGR of 7% AVERAGE SMALL BUSINESS DEPOSITS ($BN) 3% 3-yr CAGR Canadian Small Business Banking Accountants EXECUTION STRATEGY & FINANCIAL HIGHLIGHTS AVERAGE SMALL BUSINESS LOANS ($BN) 10 10 11 13 14 2022 2023 2024 2025 Q3/26 9% 3-yr CAGR
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35 Demand- Personal 7% Notice - Personal 16% Term - Personal 17% Demand - Business 34% Notice - Business 10% Term - Business 16% 34 37 46 48 53 55 182 172 176 171 176 191 125 130 130 130 125 128 340 367 378 377 369 370 682 706 730 725 723 744 2023 2024 2025 Q3/25 Q2/26 Q3/26 CB IB GBM GWM Deposits 1. Deposits payable on demand include all deposits for which the Bank may not have the right to notice of withdrawal, generally chequing accounts 2. Deposits payable after notice include all deposits for which the Bank may require notice of withdrawal, generally savings acc ounts 3. All deposits that mature on a specified date, generally term deposits, guaranteed investments certificates and similar instru ments 4. Includes deposits from banks 5. Refer to Non-GAAP Measures section from pages 52 to 63 6. May not add due to rounding AVERAGE DEPOSITS BY BUSINESS LINE AVERAGE DEPOSITS BY SEGMENT 6 in $Bn INTERNATIONAL BANKING4,6 Constant FX ex. divestitures5: 6% Y/Y 41 38 39 89 87 89 130 125 128 Q3/25 Q2/26 Q3/26 GLOBAL BANKING AND MARKETS4 171 176 191 Q3/25 Q2/26 Q3/26 +12%(1%) Personal Non-Personal +16% 21 22 22 27 31 33 48 53 55 Q3/25 Q2/26 Q3/26 GLOBAL WEALTH MANAGEMENT Q3/26 AVERAGE DEPOSIT MIX $744Bn 1 1 2 2 3 3 in $Bn (2%) 238 233 233 139 135 136 377 369 370 Q3/25 Q2/26 Q3/26 CANADIAN BANKING6
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36 SELECT MACROECONOMIC VARIABLES USED TO ESTIMATE EXPECTED CREDIT LOSSES Next 12 Months Base Case Scenario Alternative Scenario – Optimistic Alternative Scenario – Pessimistic Alternative Scenario – Very Pessimistic Q3/26 Q2/26 Q3/26 Q2/26 Q3/26 Q2/26 Q3/26 Q2/26 Canada Real GDP growth, Y/Y % change 1.7 1.6 2.7 2.6 -1.1 -1.0 -4.6 -4.4 Consumer price index, Y/Y % change 2.6 3.1 2.8 3.3 2.0 2.6 6.1 6.5 Bank of Canada overnight rate target, average % 2.75 2.75 3.12 3.12 2.11 2.15 3.56 3.53 Unemployment rate, average % 6.4 6.4 6.0 5.9 7.7 7.6 10.6 10.4 US Real GDP growth, Y/Y % change 1.7 1.6 2.2 2.2 -1.1 -1.1 -4.0 -3.9 Consumer price index, Y/Y % change 3.2 3.0 3.5 3.2 3.4 3.2 7.1 6.8 Target federal funds rate, upper limit, average % 3.44 3.56 3.79 3.78 3.37 3.50 4.27 4.43 Unemployment rate, average % 4.2 4.3 4.1 4.1 5.7 5.7 8.0 8.1 Global WTI oil price, average USD/bbl 79 85 85 89 68 74 127 130 Note: Refer to page 71 in the Bank’s Third Quarter Report to Shareholders for further detail Macroeconomic Scenarios
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37 U.S. REAL GDP U.S. UNEMPLOYMENT RATE (%) CANADA REAL GDP CANADA UNEMPLOYMENT RATE (%) Note: Refer to pages 39-40 of Management’s Discussion & Analysis in the Bank’s Third Quarter Report to Shareholders for further detail Macroeconomic Scenarios The following charts provide a quarterly breakdown of key macroeconomic variables used for our base case scenarios to calculate the modelled estimate for the allowance for credit losses. 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 3.0 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4 2027 Q1 2027 Q2 2027 Q3 2027 Q4 2028 Q1 2028 Q2 2028 Q3 2028 Q4 2029 Q1 2029 Q2 2029 Q3 2029 Q4 2030 Q1 2030 Q2 2030 Q3 2030 Q4 2031 Q1 Range of Estimated Scenarios Baseline (July 31, 2026) Baseline (April 30, 2026) CAD, trillions (ch. $2017) Sources: Scotiabank Economics, Statistics Canada. 19.0 20.0 21.0 22.0 23.0 24.0 25.0 26.0 27.0 28.0 29.0 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4 2027 Q1 2027 Q2 2027 Q3 2027 Q4 2028 Q1 2028 Q2 2028 Q3 2028 Q4 2029 Q1 2029 Q2 2029 Q3 2029 Q4 2030 Q1 2030 Q2 2030 Q3 2030 Q4 2031 Q1 Range of Estimated Scenarios Baseline (July 31, 2026) Baseline (April 30, 2026) Sources: Scotiabank Economics, BEA. USD, trillions (ch. $2017) 3.0 4.0 5.0 6.0 7.0 8.0 9.0 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 2029Q2 2029Q3 2029Q4 2030 Q1 2030 Q2 2030 Q3 2030 Q4 2031 Q1 Range of Estimated Scenarios Baseline (July 31, 2026) Baseline (April 30, 2026) % Sources: Scotiabank Economics, BLS. 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 2028Q3 2028Q4 2029Q1 2029Q2 2029Q3 2029Q4 2030 Q1 2030 Q2 2030 Q3 2030 Q4 2031 Q1 Range of Estimated Scenarios Baseline (July 31, 2026) Baseline (April 30, 2026) % Sources: Scotiabank Economics, Statistics Canada.
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38 • Impaired PCLs down 9 bps Q/Q due mainly to Canadian retail and International corporate PCL on Impaired Loans1 ALL BANK ($MM, BPS) CANADIAN BANKING ($MM, BPS) INTERNATIONAL BANKING ($MM, BPS) GLOBAL BANKING AND MARKETS ($MM, BPS) 975 1,042 1,103 1,129 1,018 51 bps 54 bps 58 bps 61 bps 52 bps Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 447 472 553 516 466 39 bps 41 bps 47 bps 45 bps 39 bps Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 525 557 483 578 507 129 bps 135 bps 123 bps 161 bps 134 bps Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 3 10 64 33 39 1 bp 4 bps 24 bps 12 bps 13 bps Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 1. Refer to Glossary on page 64 for the description of the measure • Impaired PCLs down 6 bps Q/Q mainly in retail, partially offset by higher provision in commercial • Impaired PCLs down 27 bps Q/Q due to elevated provisions in the prior quarter • Impaired PCLs up 1 bp Q/Q, mainly driven by new formations in Canada
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39 Canadian Retail Portfolio 1. Defined as: loan balance that is 90+ days past due, divided by the total loan balance, on a spot basis; does not reflect impact of payment deferral programs; includes Wealth Management 2. Includes secured and unsecured lines of credit 3. Refer to Glossary on page 64 for the description of the measure 4. May not add due to rounding BALANCES 4 (SPOT $BN) RETAIL 90+ DAYS PAST DUE LOANS 1 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Mortgages 0.24% 0.28% 0.31% 0.32% 0.34% Personal Loans 0.49% 0.51% 0.59% 0.55% 0.51% Credit Cards 0.96% 1.16% 1.36% 1.05% 0.99% Lines of Credit2 0.34% 0.39% 0.50% 0.42% 0.40% Total 0.30% 0.34% 0.39% 0.37% 0.38% COMMENTARY • Total Canadian retail loans of $401 Bn o ~52% of total gross loans and acceptances o ~93% of the portfolio is secured • Portfolio 90+ day delinquency was 38 bps, up 1 bp Q/Q o Credit Cards and Lines of Credit benefitted from continued focus on collection activities o Mortgage delinquency continues to be impacted by COVID-era mortgages with some stress concentrated in Ontario and the GTA 306 315 311 40 39 39 38 39 40 9 9 9 2 2 2 394 404 401 Q3/25 Q2/26 Q3/26 Other Credit Cards Lines of Credit Auto Loans Mortgages 6 3 4 1 2 3 1 -2 3 4 14 3 -1 4 3 1 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 114 158 179 106 64 141 155 118 135 144 150 113 119 144 145 129 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 92 111 118 83 103 144 135 123 110 137 171 96 152 152 159 147 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 359 429 512 490 419 523 562 485469 446 855 455 655 518 515 431 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 PCLS BY PRODUCT MORTGAGES AUTO LOANS CREDIT CARDS PCL as a % of average net loans (bps) PCLs on Impaired Loans as a % of average net loans (bps) LINES OF CREDIT2 3 3
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40 Fixed 64% Variable 36% Uninsured 77% Insured 23% 52% 54% 55% 56% 56% 57% 58% 58% 59% 59% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Total Variable Canadian Residential Mortgages 1. Includes Wealth Management 2. LTV on uninsured mortgages. Weighted by mortgage balances and adjusted for property values based on the Teranet – National Bank National Composite House Price Index 3. FICO is a registered trademark of FICO Corporation 4. Defined as: loan balance that is 90+ days past due, divided by the total loan balance, on a spot basis; does not reflect impa ct of payment deferral programs; includes Wealth Management Average FICO® Score3 % of Portfolio Uninsured Canada 807 77% GTA 807 86% GVA 813 87% FICO® Distribution UNINSURED MORTGAGE PORTFOLIO 3% 4% 6% 87% <620 620-680 681-720 >720 90+ Days Past Due (bps)4 Q3/25 Q2/26 Q3/26 Total Mortgages 24 32 34 Insured Mortgages 27 31 32 Uninsured Mortgages 24 32 35 Uninsured Mortgages GTA 29 41 46 Uninsured Mortgages GVA 24 31 33 LOAN - TO - VALUE 2Spot Asset yields on variable rate mortgages reprice with each change to Scotiabank’s prime rate $311Bn1 $311Bn1
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41 Condo 18% Freehold 82% 144.6 42.5 27.8 19.3 12.2 8.5 26.8 21.2 4.0 3.3 0.3 0.6 171.4 63.7 31.8 22.6 12.5 9.1 55.1% 20.5% 10.2% 7.3% 4.0% 2.9% Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba & Saskatchewan MORTGAGE PORTFOLIO 1 7.2 55.0 64.1 45.8 28.27.6 31.8 4.0 5.9 61.6 14.8 86.8 68.1 51.7 89.8 FY26 FY27 FY28 FY29 FY30+ Fixed Variable GTA/GVA MORTGAGESMATURITY SCHEDULE 1 In $Bn (Spot) % of portfolio Freehold Condos $311Bn1 in $Bn (Spot) Q3/25 Q2/26 Q3/26 Total Originations 13.7 12.3 11.9 Uninsured LTV2 61% 61% 61% Greater Toronto Area Mortgage Balance 88 89 88 Total Originations 3.5 3.4 2.7 Uninsured LTV2 60% 60% 60% Greater Vancouver Area Mortgage Balance 35 37 36 Total Originations 1.6 1.7 1.3 Uninsured LTV2 60% 61% 59% in $Bn (Spot) Canadian Residential Mortgages 1. Includes Wealth Management; m ay not add due to rounding 2. Average LTV ratios for our uninsured residential mortgages originated during the quarter
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42 International Banking Retail Portfolio Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Mortgages 3.09% 3.10% 3.17% 3.18% 3.22% Personal Loans 3.26% 3.08% 3.63% 3.41% 3.23% Credit Cards 3.07% 3.12% 3.69% 3.43% 3.42% Total 3.12% 3.10% 3.31% 3.25% 3.24% BALANCES (SPOT $BN) 1,4 RETAIL 90+ DAYS PAST DUE LOANS 2,4 COMMENTARY • Total International retail loans of $82 Bn o ~11% of total gross loans and acceptances o ~77% of the portfolio is secured • Portfolio 90+ day delinquency was 3.24%, down 1 bp Q/Q o Mexico mortgages had marginal improvement Q/Q while auto portfolio performance remained stable o Peru continues to show improved performance across products o Chile continues to see softness in mortgages due to portfolio being indexed to persistently high inflation 1. Other includes other smaller portfolios 2. Defined as: loan balance that is 90+ days past due, divided by the total loan balance, on a spot basis; does not reflect impa ct of payment deferral programs; includes Wealth Management 3. Peru Crediscotia Financiera S.A. was divested in February 2025 4. On December 1, 2025, the Bank completed the previously announced sale of its banking operations in Colombia, Costa Rica and P anama to Davivienda Group S.A. 5. Refer to Glossary on page 64 for the description of the measure 29 32 32 22 25 26 10 10 11 10 10 11 13 1 1 84 79 82 Q3/25 Q2/26 Q3/26 Other Caribbean Peru Mexico Chile 149 128 122 137 150 128 110 131 124 129 121 132 107 113 113 123 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 498 437 341 290 330 246 246 221 451 395 304 287 311 276 237 253 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 185 168 196 211 181 188 192 157154 201 231 207 204 208 206 176 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 160 182 174 168 188 204 218 218 162 224 187 204 227 234 222 195 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 CARIBBEAN MEXICO CHILE PERU PCLS BY COUNTRY 3 PCL as a % of average net loans (bps) PCLs on Impaired Loans as a % of average net loans (bps)5 5
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43 33% 10% 9%8%5%3% 2% 3% 27% Real estate & contractors Agriculture Wholesale and retail Automotive NBFI Health care Transportation Food and beverage Other 36 37 42 59 46 Non-retail PCL Ratio (bps) 21% 11% 11% 11%10% 5% 4% 3% 24% NBFI Wholesale and retail Technology and media Real estate & contractors Utilities Automotive Food and beverage Health care Other 47% 24% 8% 7% 4% 11% Canada U.S. Mexico Chile Peru Other Business & Government Portfolio • Total Business and Government loans of $287 Bn o ~37% of total gross loans and acceptances o Well-diversified by industry and geography o 47% Canadian and 53% Non-Canada • 53% of the portfolio is investment grade COMMENTARY GROSS IMPAIRED LOANS AND PCL RATIO 1 LOANS - BY GEOGRAPHY CANADA - BY INDUSTRY NON - CANADA - BY INDUSTRY 1. Provision for Credit Losses (PCL) as a % of Average Net Loans and Acceptances: The ratio of PCL on business and government lo ans, acceptances and off -balance sheet exposures expressed as a percentage of average net loans and acceptances Q3/26 $134 Bn Q3/26 $153 Bn Q3/26 $287 Bn 952 967 1,005 1,206 1,258 2,231 2,303 2,225 2,523 2,540 3,183 3,270 3,230 3,729 3,798 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 GILs Canada GILs Non-Canada
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44 2% 1% 2% Other Subscription financing CLO warehouses Non-Bank Financial Institution (NBFI) • NBFI exposure as percentage of total loan book is 5%, ~$38.7B; with a weighted average facility rating of A equivalent • CLO warehouse exposure is ~2% of the total loan book, with a weighted average facility rating of A to AA equivalent o Structured with significant equity subordination and overcollateralization via conservative advance rates, as well as eligibilit y criteria and concentration limits which promote diversification and mitigate negative rating migration. • Subscription financing is ~1% of the total loan book, with an average rating of A to AA equivalent o Primarily secured by diversified, high-quality investor commitments, with incentives to fund commitments and conservative advanc e rates • Other NBFI (~2% of the total loan book) includes regulated investment funds and diversified asset managers, highly -rated and regulated insurance companies and pension funds, mortgage warehouses, financing/leasing companies, and holding companies. DISCIPLINED FRAMEWORK ENSURES ROBUST MANAGEMENT OF NBFI EXPOSURES Overall, a well diversified portfolio, with detailed due diligence, strong controls and continuous monitoring in place NBFI Composition COMMENTARY Mortgages 47% Personal loans 14% Real estate 8% Wholesale and retail 4% Credit cards 2% Other 20% NBFIs 5% Total Loans $778 Bn
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45 26.5 14.3 9.0 4.4 3.9 4.5 26.2 13.5 6.8 4.0 3.5 3.7 26.5 14.8 7.8 4.4 3.1 3.9 Residential/Multi Family Industrial REITS² Office Retail Others³ Q3/25 Q2/26 Q3/26 Residential/ Multi Family 44% Industrial 24% REITS2 13% Office 7% Retail 5% Other3 7% Canada 73% US 11% Mexico 6% Chile 6% APAC 1% Other 3% Commercial Real Estate 1. May not add due to rounding 2. REITs include REITs-Industrial (5%), REITs-Retail (4%), REITs-Residential (2%), REITs-Diversified (1%) and REITs -Office (1%) 3. Primarily includes Engineering & Project Management and Trade Contractors SPOT LOANS OUTSTANDING 1 Portfolio comprised of Commercial Real Estate, and Contractor loans which include Engineering & Project Management and Trade Contractors BY SEGMENTBY GEOGRAPHY HIGHLIGHTS Total Portfolio: $60.4Bn Y/Y: (4%) Q/Q: 5% $60.4Bn$60.4Bn • ~7.8% of the Bank’s total loans • Geographically diversified across Canada, US and other international locations • Continued heavier weighting towards Residential, Industrial and investment grade REITs/pension funds • Outstanding increased 5% Q/Q reflecting growth in Industrial and REITs sectors but declined 4% Y/Y due to continued industry headwinds including economic uncertainty, affordability constraints, and shifting immigration patterns weighing on residential activity • Exposure to Canadian condominium developers represents approximately 5% of the Commercial Real Estate portfolio, primarily consisting of investment-grade facilities to well- capitalized, experienced developers with established track records • Office sector represents approximately 7% of the Commercial Real Estate portfolio. Majority of this exposure consists of investment-grade facilities to large, diversified firms secured by Class A properties. Office fundamentals continue to improve, evidenced by declining vacancy rates in major markets
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46 Trading Revenue and V aR1 1. Refer to Glossary on page 64 for the description of the measure NO TRADING LOSS DAY (Q3/26) -30 -20 -10 0 10 20 30 40 50 60 May 1, 2026 Jun 1, 2026 Jul 1, 2026 Jul 31, 2026 Revenue Total VaR Average Total VaR: Q3/26: $ 13.3 MM Q2/26: $ 9.3 MM Q3/25: $ 13.1 MM 3-months ending July 31, 2026 (in millions)
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47 International Banking: Mexico1 MEXICO 55.4% 54.0% 52.7% 52.6% 51.3% 52.2% 2023 2024 2025 Q3/25 Q2/26 Q3/26 ROTCE 2 PRODUCTIVITY RATIO 3 $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q3/25 Q2/26 Q3/26 Y/Y Q/Q Q3/25 Q2/26 Q3/26 Y/Y Q/Q Revenue 767 900 942 23% 5% 846 922 942 11% 2% Expenses 403 462 492 22% 7% 443 472 492 11% 4% Provision for Credit Losses 139 147 127 (8%) (14%) 153 151 127 (17%) (16%) NIAEH 169 207 223 32% 8% 187 213 223 19% 5% Effective Tax Rate3 23.1% 26.9% 29.0% 590 bps 210 bps Net interest margin2 4.38% 4.97% 4.75% 37 bps (22 bps) Risk adjusted margin2 3.34% 3.90% 3.89% 55 bps (1 bp) Deposits (Average, $Bn) 43 46 48 12% 3% 47 47 48 2% 1% Loans (Average, $Bn) 43 46 48 11% 4% 47 47 48 2% 2% 1. All figures exclude wealth management; prior period comparatives have been revised for allocated costs that were previously h eld in IB-Other 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 19.3% 18.6% 16.8% 17.0% 21.5% 21.3% 2023 2024 2025 Q3/25 Q2/26 Q3/26
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48 International Banking: Chile1 CHILE $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q3/25 Q2/26 Q3/26 Y/Y Q/Q Q3/25 Q2/26 Q3/26 Y/Y Q/Q Revenue 613 690 678 11% (2%) 645 688 678 5% (1%) Expenses 285 298 313 10% 5% 297 297 313 5% 5% Provision for Credit Losses 179 210 190 6% (9%) 188 210 190 1% (9%) NIAEH 131 155 152 16% (2%) 140 155 152 8% (2%) Effective Tax Rate3 13.5% 14.7% 10.4% (310 bps) (430 bps) Net interest margin2,4 3.63% 4.00% 4.06% 43 bps 6 bps Risk adjusted margin2 2.27% 2.43% 2.67% 40 bps 24 bps Deposits (Average, $Bn) 23 25 25 8% 2% 24 25 25 4% 2% Loans (Average, $Bn) 51 52 52 3% 0% 53 52 52 (1%) 0% 47.8% 45.7% 45.0% 46.5% 43.2% 46.2% 2023 2024 2025 Q3/25 Q2/26 Q3/26 ROTCE 2 PRODUCTIVITY RATIO 3 12.5% 13.0% 13.1% 12.3% 14.1% 13.3% 2023 2024 2025 Q3/25 Q2/26 Q3/26 1. All figures exclude wealth management; prior period comparatives have been revised for allocated costs that were previously h eld in IB-Other 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 4. Includes impact of inflation
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49 International Banking: Peru1 PERU 47.1% 43.4% 45.8% 45.0% 51.1% 45.9% 2023 2024 2025 Q3/25 Q2/26 Q3/26 ROTCE 2 PRODUCTIVITY RATIO 3 16.0% 18.1% 21.9% 20.7% 22.6% 22.3% 2023 2024 2025 Q3/25 Q2/26 Q3/26 1. All figures exclude wealth management; prior period comparatives have been revised for allocated costs that were previously h eld in IB-Other 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q3/25 Q2/26 Q3/26 Y/Y Q/Q Q3/25 Q2/26 Q3/26 Y/Y Q/Q Revenue 413 420 476 15% 13% 439 427 476 8% 11% Expenses 186 214 219 18% 2% 196 217 219 12% 1% Provision for Credit Losses 85 68 82 (3%) 20% 90 69 82 (9%) 18% NIAEH 109 122 132 21% 8% 117 124 132 13% 6% Effective Tax Rate3 22.5% 10.0% 23.9% 140 bps 1,390 bps Net interest margin2 4.61% 4.79% 4.92% 31 bps 13 bps Risk adjusted margin2 3.30% 3.76% 3.76% 46 bps 0 bp Deposits (Average, $Bn) 18 20 21 20% 5% 19 21 21 15% 3% Loans (Average, $Bn) 21 21 22 5% 3% 22 22 22 0% 1%
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50 International Banking: Caribbean1 CARIBBEAN 52.9% 50.8% 49.5% 47.5% 50.8% 52.5% 2023 2024 2025 Q3/25 Q2/26 Q3/26 ROTCE 2 PRODUCTIVITY RATIO 3 1. All figures exclude wealth management; prior period comparatives have been revised for allocated costs that were previously h eld in IB-Other 2. Refer to Non-GAAP Measures section from pages 52 to 63 3. Refer to Glossary on page 64 for the description of the measure 36.1% 37.8% 32.8% 34.2% 31.0% 28.8% 2023 2024 2025 Q3/25 Q2/26 Q3/26 $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q3/25 Q2/26 Q3/26 Y/Y Q/Q Q3/25 Q2/26 Q3/26 Y/Y Q/Q Revenue 567 553 586 3% 6% 602 564 586 (3%) 4% Expenses 268 281 307 14% 10% 274 286 307 12% 8% Provision for Credit Losses 36 31 35 (3%) 12% 37 32 35 (6%) 9% NIAEH 164 159 159 (3%) 0% 185 162 159 (14%) (2%) Effective Tax Rate3 26.0% 22.6% 23.4% (260 bps) 80 bps Net interest margin2 6.91% 6.77% 6.71% (20 bps) (7 bps) Risk adjusted margin2 6.26% 6.21% 6.12% (14 bps) (9 bps) Deposits (Average, $Bn) 22 23 24 7% 4% 23 23 24 5% 2% Loans (Average, $Bn) 16 16 17 8% 5% 16 16 17 6% 3%
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51 1. Includes the impact of all currencies 2. Includes the impact of foreign currency hedges Impact of Foreign Currency Translation The table below reflects the estimated impact of foreign currency translation on key income statement items and is computed on a basis that is different than the “Constant dollar” table in Non-GAAP Measures on page 59. Average Exchange Rate Q3/25 Q2/26 Q3/26 Q/Q Y/Y US Dollar/Canadian Dollar 0.728 0.729 0.716 (1.8%) (1.6%) Mexican Peso/Canadian Dollar 13.862 12.769 12.456 (2.5%) (10.1%) Peruvian Sol/Canadian Dollar 2.624 2.494 2.447 (1.9%) (6.7%) Colombian Peso/Canadian Dollar 2,997.961 2,676.373 2,498.626 (6.6%) (16.7%) Chilean Peso/Canadian Dollar 687.720 650.724 653.561 0.4% (5.0%) Impact on Net Income1 ($MM except EPS) Q/Q Y/Y Net interest income 40 144 Non-interest income2 (8) 79 Non-interest expenses (36) (100) Other items (net of tax)2 (4) (52) Net income (8) 71 Earnings per share (diluted) (0.01) 0.06 Impact by business line ($ millions) Canadian Banking 1 - International Banking2 6 76 Global Wealth Management - 6 Global Banking and Markets 7 7 Other2 (22) (18) Net income (8) 71
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52 Non-GAAP Measures 1 2 3 4 5
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53 The Bank uses a number of financial measures and ratios to assess its performance, as well as the performance of its operatin g segments. Some of these financial measures and ratios are presented on a non -GAAP basis and are not calculated in accordance with Generally Accepted Accounting Principles (GAAP), which are based on International Fina ncial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), are not defined by GAAP and do not have standardized meanings and therefore might not be comparable to similar financial measures and ratios disclosed by other issuers. The Bank believes that non -GAAP measures and ratios are useful as they provide readers with a better understanding of how management assesses performance. Th ese non-GAAP measures and ratios are used throughout this report and defined below. Measure Definition Page Adjusted Productivity Ratio Adjusted productivity ratio represents adjusted non-interest expenses as a percentage of adjusted total revenue. This is a non-GAAP ratio. Management uses the productivity ratio as a measure of the Bank’s efficiency. A lower ratio indicates improved productivity. 54, 57, 58 Adjusted results Management considers both reported and adjusted results and measures useful in assessing underlying ongoing business performance. Adjusted results and measures remove certain specified items from revenue, non-interest expenses, income taxes and non-controlling interests. Presenting results on both a reported basis and adjusted basis allows readers to assess the impact of certain items on results for the periods presented, and to better assess results and trends excluding those items that may not be reflective of ongoing business performance. 54, 55, 58 Constant dollar basis International Banking business segment results are analyzed on a constant dollar basis which is a non-GAAP measure. Under the constant dollar basis, prior period amounts are recalculated using current period average foreign currency rates. The following table presents the reconciliation between reported and constant dollar results for International Banking for prior periods. The Bank believes that constant dollar is useful for readers to understand business performance without the impact of foreign currency translation and is used by management to assess the performance of the business segment. The tables below are computed on a basis that is different than the table “Impact of foreign currency translation” on page 51. 47-50, 59 Core earning assets Core earning assets are defined as interest-bearing deposits with financial institutions, investment securities and loans, net of allowances. This is a non-GAAP measure. The Bank believes that this measure is useful for readers as it presents the main interest-generating assets and eliminates the impact of trading businesses. 57, 60- 62 Core net interest income Core net interest income is defined as net interest income earned from core earning assets. This is a non-GAAP measure. 57, 60- 62 Earning assets Earning assets are defined as income generating assets which include deposits with financial institutions, trading assets, investment securities, investments in associates, securities borrowed or purchased under resale agreements, loans net of allowances, and customers’ liability under acceptances. This is a non-GAAP measure. 57, 60- 62 All Bank Loan to deposit Ratio Calculated as Total Average Net Loans and Acceptances to Customers/Total Average Deposits excluding treasury sourced deposit funding. This is a non-GAAP measure. 56 Net interest margin (NIM) Net interest margin is a non-GAAP ratio that is used to measure the return generated by the Bank’s core earning assets, net of the cost of funding. Net interest margin is calculated as core net interest income divided by average core earning assets. Management uses net interest margin to measure profitability and how efficiently the Bank earns income from its core earning assets relative to the cost of funding those assets. 57, 60- 62 Non-earning assets Non-earning assets are defined as cash, precious metals, derivative financial instruments, property and equipment, goodwill and intangible assets, deferred tax assets and other assets. This is a non-GAAP measure. 60-62 Pre-Tax, Pre-Provision Profit Pre-tax, pre-provision profit (PTPP) is a non-GAAP measure that is calculated as revenue net of non-interest expenses. The Bank believes this measure to be useful for readers to assess the Bank’s ability to generate earnings growth excluding the impact of credit losses and income taxes. Adjusted PTPP is calculated as the difference between adjusted revenues and adjusted expenses. 9, 11-14, 21, 22, 54, 58 Adjusted return on equity (ROE) Adjusted return on equity is a non-GAAP ratio which represents adjusted net income attributable to common shareholders (annualized) as a percentage of average common shareholders’ equity. 56 Return on tangible common equity (ROTCE) Return on tangible common equity (ROTCE) is a profitability measure that is calculated by dividing the net income attributable to common shareholders (annualized), adjusted for the amortization of intangibles (excluding software), by average tangible common equity. Tangible common equity is defined as common shareholders’ equity adjusted for goodwill and intangible assets (excluding software), net of deferred taxes. This is a non-GAAP ratio. Management uses ROTCE to assess the Bank’s performance and ability to use its tangible common equity to generate returns. Adjusted return on tangible common equity represents adjusted net income attributable to common shareholders as a percentage of average tangible common equity. This is a non-GAAP ratio. 56, 63 Risk Adjusted Margin (RAM) Risk Adjusted Margin calculated as (Core Net interest income less Provisions for Credit Losses) / core earning assets. The Bank believes that this measure is useful for readers as it measures the return from the loan portfolio net of the provision for credit losses. 57, 60- 62 Non-GAAP Measures
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54 Non-GAAP Reconciliations Three months ending July 31, 2026 April 30, 2026 July 31, 2025 $MM (unless indicated otherwise) Other All Bank Other All Bank Other All Bank Reported Results Total revenue 30 10,535 143 9,837 (22) 9,486 Provision for credit losses - 1,079 1 1,217 - 1,041 Non-interest expenses 111 5,556 118 5,189 58 5,089 Income tax expense/(benefit) (32) 947 (4) 799 (45) 829 Net income (Loss) (49) 2,953 28 2,632 (35) 2,527 Net income attributable to non -controlling interests in subsidiaries (NCI) 1 45 - 37 36 80 Net income attributable to equity holders (50) 2,908 28 2,595 (71) 2,447 Net income attributable to preferred and other 130 130 127 127 134 134 Adjustments Amortization of acquisition-related intangible assets 1 8 24 8 26 8 25 Divestitures and wind-down of operations2 - - - - (23) (23) Adjustments (Pre-tax) 8 24 8 26 (15) 2 Income tax expense/(benefit) - 4 1 6 7 (11) Adjustments (After tax) 8 20 7 20 (22) (9) Adjustments attributable to NCI - - - - 37 37 Adjustments (After tax and NCI) 8 20 7 20 15 28 Adjusted Results Adjusted Total revenue 38 10,543 151 9,845 (14) 9,494 Adjusted Provision for credit losses - 1,079 1 1,217 - 1,041 Adjusted Non-interest expenses 111 5,540 118 5,171 81 5,095 Adjusted Income tax expense/(benefit) (32) 951 (3) 805 (38) 840 Adjusted Net income (Loss) (41) 2,973 35 2,652 (57) 2,518 Adjusted Net income attributable to NCI 1 45 - 37 (1) 43 Adjusted Net income attributable to equity holders (42) 2,928 35 2,615 (56) 2,475 Adjusted Net income attributable to common equity holders (172) 2,798 (92) 2,488 (190) 2,341 Footnotes 1. These costs relate to the amortization of intangible assets recognized upon the acquisition of businesses, excluding software. The costs are recorded in non -interest expenses – depreciation and amortization for the Canadian Banking, International Banking and Global Wealth Management operating segments, and non - interest income – net income from investments in associated corporations for the Other operating segment. 2. In Q1 2026, the Bank recognized a loss of $434 million ($377 million after -tax) upon the completion of the sale of its banking operations in Colombia, Costa Rica and Panama. The loss primarily represents the release of cumulative foreign currency translation losses, inclusive of hedges. In the prior fiscal year, the Bank recognized a total impairment loss of $1,422 million in non -interest expense and a credit of $45 million in non-interest income (collectively $1,342 million after -tax), of which $1,362 million ($1,355 million after -tax) was recognized in Q1 2025, as the operations that were a part of this transaction were designated as held for sale. The changes subsequent to Q1 2025 represented changes in the carrying value of net assets being sold and fair value of shares received less costs to sell, as well as changes in foreign currency. For further details, please refer to Note 19 of the condensed interim consolidated financial statements in the Q3 2026 Quarterly Report to Shareholders. Amortization of acquisition related intangibles Q3/26 Q2/26 Q3/25 Canadian Banking (pre-tax) - - 1 International Banking (pre -tax) 7 9 7 Global Wealth Management (pre -tax) 9 9 9 Other (pre-tax) 8 8 8 Total (pre-tax) 24 26 25 Canadian Banking (after-tax) - - 1 International Banking (after -tax) 5 7 5 Global Wealth Management (after -tax) 7 6 7 Other (after-tax) 8 7 7 Total (after-tax) 20 20 20
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55 1. In Q3 2025, the Bank redeemed all outstanding U.S. $1,250 million 4.900% Fixed Rate Resetting Perpetual Subordinated Addition al Tier 1 Capital Notes (AT1 Note). The redemption resulted in a foreign currency loss of $22 million, which was recognized in retained earnings. The loss was deducted from net income attributable to c ommon shareholders for the purposes of calculating basic and diluted earnings per share (EPS). For further details, please refer to Note 11 and Note 17 of the condensed interim consolidated financial sta tements in the Q3 2025 Quarterly Report to Shareholders. 2. Certain options were not included in the calculation of diluted earnings per share as they were anti -dilutive 3. For details of the adjustments please see page 54 Non-GAAP Reconciliations $MM (unless otherwise indicated) Q3/25 Q2/26 Q3/26 Reported Results Net Income Attributable to Common Shareholders Net income attributable to common shareholders 2,313 2,468 2,778 Foreign exchange loss on redemption of Subordinated Additional Tier 1 Capital Notes1 (22) - - Net income attributable to common shareholders used to calculate basic earnings per common share 2,291 2,468 2,778 Dilutive impact of share-based payment options and others2 - - - Net Income attributable to common shareholders (diluted) 2,291 2,468 2,778 Common Shares Outstanding Weighted average number of common shares outstanding (millions) 1,244 1,230 1,223 Dilutive impact of share-based payment options and others2 (millions) 1 2 3 Weighted average number of diluted common shares outstanding (millions) 1,245 1,232 1,226 Adjusted Results Net Income Attributable to Common Shareholders Net income attributable to common shareholders used to calculate basic earnings per common share 2,291 2,468 2,778 Impact of adjusting items on net income attributable to common shareholders 3 28 20 20 Foreign exchange loss on redemption of Subordinated Additional Tier 1 Capital Notes1 22 - - Adjusted net income attributable to common shareholders used to calculate adjusted basic earnings per common share 2,341 2,488 2,798 Dilutive impact of share-based payment options and others2 8 - - Net Income attributable to common shareholders (diluted) 2,349 2,488 2,798 Common Shares Outstanding Weighted average number of diluted common shares outstanding (millions) 1,249 1,232 1,226 EPS Calculation Reported Basic EPS 1.84 2.01 2.27 Dilutive impact of share-based payment options and others - (0.01) - Reported Diluted EPS 1.84 2.00 2.27 Impact of adjustments on diluted earnings per share3 0.04 0.02 0.01 Adjusted Diluted EPS1 1.88 2.02 2.28
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56 1. Average amounts calculated using methods intended to approximate the daily average balances for the period 2. Includes imputed goodwill from investments in associates 3. Refer to page 54 for details of adjustments ($MM) Q3/25 Q2/26 Q3/26 Return on Equity and Return on Tangible Common Equity – Reported Average common equity – Reported1 74,972 77,436 78,217 Average goodwill1,2 (9,827) (9,959) (10,010) Average acquisition-related intangibles (net of deferred tax) 1 (3,571) (3,532) (3,519) Average tangible common equity 1 61,574 63,945 64,688 Net income attributable to common shareholders – reported 2,313 2,468 2,778 Amortization of acquisition-related intangible assets (after -tax) 20 20 20 Net income attributable to common shareholders adjusted for amortization of acquisition - related intangible assets (after -tax) 2,333 2,488 2,798 Return on tangible common equity 15.0% 16.0% 17.2% Adjusted3 Adjusted net income attributable to common shareholders 2,341 2,488 2,798 Return on equity 12.4% 13.2% 14.2% Return on tangible common equity 15.1% 16.0% 17.2% Adjusted2 Return on Equity ex. divestitures Net income attributable to common shareholders 2,341 2,488 2,798 Less: Net income from divested operations 27 - - Net income attributable to common shareholders excluding divested operations 2,314 2,488 2,798 Adjusted return on equity excluding divested operations 12.5% 13.2% 14.2% Loan to Deposit Ratio ($Bn, unless otherwise noted) Avg Loans & Acceptances Loans 757 759 769 Acceptances - - - Total 757 759 769 Avg Deposits Deposits 949 983 1,014 Less: Group Treasury Wholesale Funding 224 260 270 Total Customer Deposits 725 723 744 Loan to Deposit Ratio 104% 105% 103% Non-GAAP Reconciliations
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57 All Bank International Banking Q3/25 Q2/26 Q3/26 Q3/25 Q2/26 Q3/26 Net Interest Margin Average core earning assets 1 946,137 939,261 954,084 192,713 179,732 182,345 Less: Average core earning assets from divested operations 19,679 - - 19,414 - - Average core earning assets excluding divested operations 926,458 939,261 954,084 173,299 179,732 182,345 Core net interest income 5,636 5,694 5,988 2,207 2,087 2,154 Less: Core net interest income from divested operations 242 - - 237 - - Core net interest income excluding divested operations 5,394 5,694 5,988 1,970 2,087 2,154 Net Interest Margin excluding divested operations 2.31% 2.49% 2.29% 4.51% 4.76% 4.69% Risk Adjusted Margin Provision for credit losses 1,041 1,217 1,079 Less: Provision for credit losses from divested operations 104 - - Provision for credit losses excluding divested operations 937 1,217 1,079 Risk Adjusted Margin excluding divested operations 1.91% 1.96% 2.04% 1. Refer to pages 60 and 61 for the calculation of average core earning assets and core net interest income 2. Refer to Non-GAAP measures in the Third Quarter Report to Shareholders for details of the adjustments Non-GAAP Reconciliations Adjusted2 Productivity Ratio Q4/25 Q1/26 Total revenue 9,803 9,646 Divestitures and wind-down of operations (45) 423 Amortization of acquisition-related intangible assets 9 8 Adjusted total revenue 9,767 10,077 Non-interest expenses 5,828 5,299 Divestitures and wind-down of operations 57 11 Restructuring charge and severance provisions 373 0 Legal provision 74 0 Amortization of acquisition-related intangible assets 16 15 Adjusted Non-interest expenses 5,308 5,273
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58 All Bank Q3/25 Q2/26 Q3/26 Reported to Adjusted Results – All Bank ex. divestitures Net interest income 5,493 5,521 5,866 Non-interest income 3,993 4,316 4,669 Total revenue 9,486 9,837 10,535 Provision for credit losses 1,041 1,217 1,079 Non-interest expenses 5,089 5,189 5,556 Income tax expense 829 799 947 Net income 2,527 2,632 2,953 Net income attributable to non -controlling interests in subsidiaries (NCI) 80 37 45 Net income attributable to equity holders 2,447 2,595 2,908 Net income attributable to common shareholders 2,313 2,468 2,778 Divested Operations Net interest income 252 - - Non-interest income 150 - - Total revenue 402 - - Provision for credit losses 104 - - Non-interest expenses 240 - - Income tax expense 24 - - Net income 34 - - Net income attributable to non -controlling interests (NCI) 7 - - Net income attributable to equity holders of the bank 27 - - Adjustments Divestitures and wind-down of operations 8 - - Amortization of acquisition-related intangible assets 20 20 20 Total (after-tax, NCI) 28 20 20 Adjusted Results Net interest income 5,241 5,521 5,866 Non-interest income 3,851 4,324 4,677 Adjusted Total revenue 9,092 9,845 10,543 Adjusted Provision for credit losses 937 1,217 1,079 Adjusted Non-interest expenses 4,855 5,171 5,540 Adjusted Income tax expense 816 805 951 Adjusted Net income 2,484 2,652 2,973 Adjusted Net income attributable to NCI 36 37 45 Adjusted Net income attributable to equity holders 2,448 2,615 2,928 Non-GAAP Reconciliations
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59 Non-GAAP Reconciliations For the three months ended April 30 , 2026 July 31, 2025 $MM Reported Foreign Exchange Constant Dollar Reported Foreign Exchange Constant Dollar International Banking – Constant Dollar Reported Net interest income 2,094 (32) 2,126 2,245 (168) 2.413 Non-interest income 765 (15) 780 758 (76) 834 Total revenue 2,859 (47) 2,906 3,003 (244) 3,247 Provision for credit losses 599 (8) 607 562 (49) 611 Non-interest expenses 1,370 (18) 1,388 1,511 (110) 1,621 Income tax expense 154 (4) 158 219 (20) 239 Net income 736 (17) 753 711 (65) 776 Net income attributable to non -controlling interests in subsidiaries (NCI) 35 - 35 41 (2) 43 Net income attributable to equity holders of the Bank 701 (17) 718 670 (63) 733 Other measures Average assets ($Bn) 211 (3) 214 223 (14) 237 Average liabilities ($Bn) 170 (2) 172 173 (11) 184 For the three months ended April 30, 2026 July 31, 2025 $MM Reported Divestitures Impact Ex. Divestitures Foreign Exchange Constant Dollar Reported Divestiture Impact Ex. Divestitures Foreign Exchange Constant Dollar International Banking (ex-Divestiture) – Constant Dollar Reported Net interest income 2,094 - 2,094 (32) 2,126 2,245 248 1,997 (130) 2,127 Non-interest income 765 - 765 (15) 780 758 144 614 (27) 641 Total revenue 2,859 - 2,859 (47) 2,906 3,003 392 2,611 (157) 2,768 Provision for credit losses 599 - 599 (8) 607 562 104 458 (30) 488 Non-interest expenses 1,370 - 1,370 (18) 1,388 1,511 234 1,277 (72) 1,349 Income tax expense 154 - 154 (4) 158 219 23 196 (13) 209 Net income 736 - 736 (17) 753 711 31 680 (42) 722 Net income attributable to non -controlling interests in subsidiaries (NCI) 35 - 35 - 35 41 7 34 (1) 35 Net income attributable to equity holders of the Bank 701 - 701 (17) 718 670 24 646 (41) 687 Other measures ($Bn) Average loans 151 - 151 (2) 153 165 17 148 (7) 155 Retail 79 - 79 (1) 80 83 11 72 (5) 77 Non-retail 72 - 72 (1) 73 82 6 76 (2) 78 Average deposits 125 - 125 (2) 127 130 16 114 (7) 121 Personal 38 - 38 (1) 39 41 5 36 (2) 38 Non-Personal 87 - 87 (1) 88 89 10 79 (4) 83
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60 1. Average balances represent the average of daily balances for the period $MM (unless specified otherwise) Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Net Interest Margin and Risk Adjusted Margin - All Bank Average total assets1 1,445,858 1,486,529 1,497,957 1,517,380 1,584,546 Less: Non-earning assets 114,263 115,239 120,352 123,695 127,662 Average total earning assets1 1,331,595 1,371,290 1,377,605 1,393,685 1,456,884 Less: Trading Assets 148,567 156,953 175,004 172,563 178,777 Securities purchased under resale agreements and securities borrowed 200,737 229,014 225,084 243,408 281,382 Other deductions 36,154 35,941 37,590 38,453 42,641 Average core earning assets1 A 946,137 949,382 939,927 939,261 954,084 Net Interest Income 5,493 5,586 5,582 5,521 5,866 Less: Non-core net interest income (143) (167) (215) (173) (122) Core Net Interest Income B 5,636 5,753 5,797 5,694 5,988 Less: Provision for credit losses 1,041 1,113 1,176 1,217 1,079 Risk Adjusted Net interest income on core earning assets C 4,595 4,640 4,621 4,477 4,909 Net Interest Margin (annualized B/A) 2.36% 2.40% 2.45% 2.49% 2.49% Risk Adjusted Margin (annualized C/A) 1.93% 1.94% 1.95% 1.96% 2.04% Net Interest Margin and Risk Adjusted Margin - Canadian Banking Average total assets1 463,108 466,194 471,727 475,068 477,179 Less: Non-earning assets 4,681 4,746 4,392 4,256 4,371 Average total earning assets1 458,427 461,448 467,335 470,812 472,808 Other deductions 181 182 183 181 186 Average core earning assets1 A 458,246 461,266 467,152 470,631 472,622 Net Interest Income 2,641 2,672 2,734 2,703 2,837 Less: Non-core net interest income - - - - - Core Net Interest Income B 2,641 2,672 2,734 2,703 2,837 Provision for credit losses 456 494 576 575 498 Risk Adjusted Net interest income on core earning assets C 2,185 2,178 2,158 2,128 2,339 Net Interest Margin (annualized B/A) 2.29% 2.30% 2.32% 2.36% 2.38% Risk Adjusted Margin (annualized C/A) 1.89% 1.87% 1.83% 1.85% 1.96% Non-GAAP Reconciliations
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61 1. Average balances represent the average of daily balances for the period $MM (unless specified otherwise) Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Net Interest Margin and Risk Adjusted Margin - International Banking Average total assets1 223,347 226,015 219,139 210,553 215,340 Less: Non-earning assets 13,442 13,134 13,644 13,746 14,688 Average total earning assets1 209,905 212,881 205,495 196,807 200,652 Less: Trading Assets 6,147 6,142 7,490 7,200 7,606 Securities purchased under resale agreements and securities borrowed 3,699 2,929 2,617 2,125 2,773 Other deductions 7,346 7,378 7,378 7,750 7,928 Average core earning assets1 A 192,713 196,432 188,010 179,732 182,345 Net Interest Income 2,245 2,273 2,146 2,094 2,192 Less: Non-core net interest income 38 23 (7) 7 38 Core Net Interest Income B 2,207 2,250 2,153 2,087 2,154 Less: Provision for credit losses 562 595 536 599 522 Risk Adjusted Net interest income on core earning assets C 1,645 1,655 1,617 1,488 1,632 Net Interest Margin (annualized B/A) 4.54% 4.54% 4.54% 4.76% 4.69% Risk Adjusted Margin (annualized C/A) 3.39% 3.34% 3.41% 3.40% 3.55% Net Interest Margin and Risk Adjusted Margin - Global Banking and Markets Average total assets¹ 493,156 531,107 546,412 568,285 617,357 Less: Non-earning assets 45,729 45,978 49,194 52,970 51,107 Average total earning assets1 447,427 485,129 497,218 515,315 566,250 Trading Assets 135,693 145,681 163,555 161,255 168,414 Securities purchased under resale agreements and securities borrowed 197,038 226,085 222,468 241,283 278,609 Other deductions 23,465 23,058 24,064 25,071 28,971 Average core earning assets1 A 91,231 90,305 87,131 87,706 90,256 Net Interest Income 350 363 398 389 470 Less: Non-core net interest income (58) (72) (72) (44) (7) Core Net Interest Income B 408 435 470 433 477 Provision for credit losses 19 20 60 38 53 Risk Adjusted Net interest income on core earning assets C 389 415 410 395 424 Net Interest Margin (annualized B/A) 1.77% 1.91% 2.14% 2.03% 2.09% Risk Adjusted Margin (annualized C/A) 1.70% 1.82% 1.86% 1.86% 1.86% Non-GAAP Reconciliations
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62 Mexico Chile Peru Caribbean $MM (unless otherwise specified) Q3/25 Q2/26 Q3/26 Q3/25 Q2/26 Q3/26 Q3/25 Q2/26 Q3/26 Q3/25 Q2/26 Q3/26 Net Interest Margin and Risk Adjusted Margin Average total assets2 62,511 66,691 69,315 63,655 66,996 66,301 29,645 31,399 32,341 27,049 27,644 28,579 Less: Non-earning assets 4,748 4,354 4,235 9,227 9,599 8,798 1,913 2,075 2,165 2,243 2,457 2,502 Average total earning assets2 57,763 62,337 65,080 54,428 57,397 57,503 27,732 29,324 30,176 24,806 25,187 26,077 Less: Trading Assets 4,613 5,853 5,520 513 508 678 349 773 1,006 0 0 0 Securities purchased under resale agreements and securities borrowed 274 (97) 540 291 408 493 0 0 0 0 1 2 Other deductions 224 335 419 1,420 1,725 1,728 1,840 1,399 1,341 2,907 2,834 2,858 Average core earning assets2 A 52,652 56,246 58,601 52,204 54,756 54,604 25,543 27,152 27,829 21,899 22,352 23,217 Net Interest Income 600 679 702 485 529 579 296 317 342 381 369 393 Non-core net interest income 19 (2) 0 7 (5) 20 (1) - (4) - - - Net interest income on core earning assets B 581 681 702 478 534 559 297 317 346 381 369 393 Provision for credit losses 139 147 127 179 210 190 85 68 82 36 31 35 Risk Adjusted Net interest income on core earning assets C 442 534 575 299 324 369 212 249 264 345 338 358 Net interest margin (annualized B/A) 4.38% 4.97% 4.75% 3.63% 4.00% 4.06% 4.61% 4.79% 4.92% 6.91% 6.77% 6.71% Risk adjusted margin (annualized C/A) 3.34% 3.90% 3.89% 2.27% 2.43% 2.67% 3.30% 3.76% 3.76% 6.26% 6.21% 6.12% Reported Basis Constant Dollar Basis1 Q3/25 Q2/26 Q3/26 Q3/25 Q2/26 Q3/26 International Banking – Balance Sheet Average loans ($Bn) Mortgages 55 54 55 59 54 55 Personal Loans 20 18 19 21 18 19 Credit Cards 8 7 7 9 7 7 Business 82 72 73 85 74 73 Average deposits ($Bn) Personal 41 38 39 44 39 39 Non-Personal 89 87 89 95 88 89 Non-GAAP Reconciliations 1. Average balances represent the average of daily balances for the period
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63 Non-GAAP Reconciliations $MM unless otherwise specified Mexico Peru Chile Caribbean Other Total IB Total IB Return on Tangible Common Equity Average Tangible Common Equity Goodwill & Intangibles Attributed Capital Q3/26 4,154 2,339 4,664 2,190 1,987 15,334 3,010 18,344 Q2/26 3,947 2,212 4,658 2,124 2,111 15,052 2,935 17,987 Q3/25 3,935 2,092 4,358 1,898 2,740 15,023 2,833 17,856 2025 3,962 2,146 4,344 1,895 2,822 15,169 2,892 18,061 2024 4,270 2,212 4,283 1,688 3,136 15,589 3,559 19,148 2023 3,810 2,213 4,420 1,555 3,336 15,334 3,786 19,120 Net Income Attributable to Common Shareholders Adjusted for Amortization Related Intangible Assets (after -tax) Amortization NIACS Q3/26 223 132 157 159 59 730 (5) 725 Q2/26 207 122 160 160 59 708 (7) 701 Q3/25 169 109 136 164 97 675 (5) 670 2025 667 470 570 621 323 2,651 (20) 2,631 2024 795 401 557 636 213 2,603 (23) 2,580 2023 735 353 552 562 143 2,345 (30) 2,315 Return on Tangible Common Equity Return on Equity (Reported) Q3/26 21.3% 22.3% 13.3% 28.8% nmf 18.9% 15.7% Q2/26 21.5% 22.6% 14.1% 31.0% nmf 19.3% 16.0% Q3/25 17.0% 20.7% 12.3% 34.2% nmf 17.8% 14.9% 2025 16.8% 21.9% 13.1% 32.8% nmf 17.5% 14.6% 2024 18.6% 18.1% 13.0% 37.8% nmf 16.7% 13.5% 2023 19.3% 16.0% 12.5% 36.1% nmf 15.3% 12.1% 1. Refer to page 56 for calculation of average tangible common equity Return on Tangible Common Equity (ex. divestitures) Q3/25 Q2/26 Q3/26 Tangible common equity1 61,574 63,945 64,688 Less: Divested Operations 1,298 - - Tangible common equity (ex. divestitures) 60,276 63,945 64,688 NIACS 2,313 2,468 2,778 Less: divested Operations 27 - -- Add: amortization 20 20 20 Reported NIACS (ex. divestitures) 2,306 2,488 2,798 Return on tangible common equity - reported ex. divestitures 14.9% 16.0% 17.2% Adjusted NIACS (ex. divestitures) 2,314 2,488 2,798 Return on tangible common equity - adjusted ex. divestitures 14.9% 16.0% 17.2%
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64 Allowance for Credit Losses (ACL) Ratio The ratio of period end total allowance for credit losses (excluding debt securities and deposits with financial institutions) divided by gross loans and acceptances. Assets Under Administration (AUA) Assets administered by the Bank which are beneficially owned by clients and therefore not reported on the Bank’s Consolidated Statement of Financial Position. Services provided for AUA are of an administrative nature, such as trusteeship, custodial, safekeeping, income collection and distribution, securities trade settlements, customer reporting, and other similar services. Assets Under Management (AUM) Assets managed by the Bank on a discretionary basis and in respect of which the Bank earns investment management fees. AUM are beneficially owned by clients and are therefore not reported on the Bank’s Consolidated Statement of Financial Position. Some AUM are also administered assets and are therefore included in assets under administration. Attributed Capital The amount of common equity allocated to each operating segment is referred to as attributed capital. The attribution of capital within each operating segment is intended to approximate a percentage of the Basel III common equity capital requirements based on credit, market and operational risks and leverage inherent within each operating segment. Effective Tax Rate The effective tax rate is the overall tax rate paid by the Bank on its earned income. The effective tax rate is calculated by dividing the Bank’s income tax expense by the income before taxes. Gross Impaired Loans as a % of Loans and Acceptances (GIL Ratio) The ratio of gross impaired loans, debt investments and off-balance sheet exposures expressed as a percentage of loans and acceptances. Net Write-offs as a % of Average Net Loans and Acceptances (NWO Ratio) The ratio of net write-offs expressed as a percentage of average net loans and acceptances. Operating Leverage This financial metric measures the rate of growth in total revenue less the rate of growth in non-interest expenses. Operating Segment Return on Equity Ratio of net income attributable to common shareholders of the operating segment and the capital attributed. The amount of common equity allocated to each operating segment is referred to as attributed capital. The attribution of capital within each operating segment is intended to approximate a percentage of the Basel III common equity capital requirements based on credit, market and operational risks and leverage inherent within each operating segment. Productivity Ratio This ratio represents non-interest expenses as a percentage of total revenue. Management uses the productivity ratio as a measure of the Bank’s efficiency. Provision for Credit Losses (PCL) as a % of Average Net Loans and Acceptances (PCL ratio) The ratio of PCL on loans, acceptances and off-balance sheet exposures expressed as a percentage of average net loans and acceptances. Provision for Credit Losses (PCL) on Impaired Loans as a % of Average Net Loans and Acceptances (impaired PCL ratio) PCL on impaired loans ratio is calculated using PCL on impaired loans, acceptances and off-balance sheet exposures as a percentage of average net loans and acceptances. Return on Equity (ROE) Net income attributable to common shareholders, expressed as a percentage of average common shareholders’ equity. The Bank attributes capital to its business lines on a basis that approximates 11.5% of Basel III common equity capital requirements which includes credit, market and operational risks and leverage inherent in each operating segment. Return on equity for the operating segments is calculated as a ratio of net income attributable to common shareholders of the operating segment and the capital attributed. Value At Risk (VaR) An estimate of the potential loss that might result from holding a position for a specified period of time, with a given level of statistical confidence. Glossary – Other Financial Measures