Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — Scotiabank — Investor Presentation (February 2026)
95 slides from Bank Of Nova Scotia's investor presentation, February 2026
Slide 1: Investor Presentation
Investor Presentation February 2026
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements Forward-looking Statements From time to time, our public communications include oral or dispositions, including obtaining regulatory approvals; critical accounting estimates and the written forward-looking statements. Statements of this type are included
Slide 3: Table of Contents
Table of Contents Scotiabank Overview 4 Business Line Overview: Canadian Banking 13 Business Line Overview: International Banking 21 Business Line Overview: Global Wealth Management 30 Business Line Overview: Global Banking and Markets 35 Risk Overview 39 Treasury and Funding 49 Appendix 1: Economic
Slide 4: About Scotiabank
About Scotiabank Q1/26 HIGHLIGHTS Q1/26 EARNINGS1 BY MARKET Q1/26 Q1/25 Other 18% Reported Adjusted2 Reported Adjusted2 Mexico Net Income1 ($Bn) 2.3 2.7 1.1 2.3 10% Canada $2.3Bn 47% Diluted EPS ($) 1.73 2.05 0.66 1.76 Caribbean 11% Revenue ($Bn) 9.6 10.1 9.4 9.4 U.S.A. 14% Return on Equity3 11.1% 1
Slide 5: Our Strategy
Our Strategy Be our clients’ most trusted financial partner to drive sustainable, profitable growth and maximize total shareholder return. Make it easy Grow and scale Earn Win as to do in priority businesses primary client relationships one team business with us OUR PURPOSE & VALUES MEDIUM-TERM FINA
Slide 6: Well Diversified Business with Strong Returns
Well Diversified Business with Strong Returns E A R N I N G S B Y B U S I N E S S L I N E E X . O T H E R 1,2 Q1/26 EARNINGS BY GEOGRAPHY1 Business Lines $9.6Bn Other ($1.9Bn) 82% of Earnings are in Reported NIAEH2 $7.8Bn North America Global Banking and 47% Markets 20% Canadian Banking 36% FY2025 R
Slide 7: Business Lines (Q1/26 Results)
Business Lines (Q1/26 Results) CANADIAN INTERNATIONAL GLOBAL WEALTH GLOBAL BANKING BANKING BANKING MANAGEMENT AND MARKETS Products • Mortgages • Mortgages • Asset Management • Corporate Lending • Auto Loans • Auto Loans • Private Banking • Advisory • Business Loans • Personal Loans • Private Investm
Slide 8: Business Line Snapshot
Business Line Snapshot CANADIAN BANKING INTERNATIONAL BANKING (in $Bn) Loans (in $Bn) 7% 3-yr Deposit 7% 3-yr Deposit CAGR Deposits CAGR 460 470 175 446 447 171 167 426 160 152 367 378 372 340 125 130 130 126 308 107 2022 2023 2024 2025 Q1/26 2022 2023 2024 2025 Q1/26 GLOBAL WEALTH MANAGEMENT GLOBAL
Slide 9: Q1 2026 Financial Performance
Q1 2026 Financial Performance Y/Y Y/Y HIGHLIGHTS (ex. $MM, except EPS Q1/26 Y/Y Q/Q Divestitures1,2) • Diluted EPS up 161%; adjusted2 up 16% Reported o Strong PTPP1 growth partly offset by higher taxes Net Income 2,299 131% 4% 135% • Revenues up 3%; adjusted2 up 11% ex. divestitures Diluted EPS 1.73
Slide 10: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • The CET1 ratio of 13.3%, increased by ~10 basis points Q/Q: • Internal capital generation (+7 bps), benefit of sale of Colombia, Costa Rica and Panama subsidiaries net of investment in Davivienda (+15 bps), and higher unrealized FVOCI2 securiti
Slide 11: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q1/25 Q4/25 Q1/26 Y/Y Capital Metrics CET1 Ratio1 12.9% 13.2% 13.3% 40 bps Tier 1 Capital Ratio1 15.1% 15.3% 15.4% 30 bps 1 Total Capital Ratio 16.8% 17.1% 17.0% 20 bps 2 TLAC Ratio 28.8% 29.1% 28.6% (20 bps) Leverage Ratio3 4.4% 4.5% 4.4
Slide 12: Digital Progress
Digital Progress DIGITAL PROGRESS CANADIAN BANKING Canadian Banking D I G I T A L U N I T A C T I V E D I G I T A L D I G I T A L A C T I V E M O B I L E S A L E S ( % ) U S E R S ( M M ) A D O P T I O N ( % ) U S E R S ( M M ) • Q1 Digital investments anchored on streamlining key servicing journeys
Slide 13: Business Line Overview: Canadian Banking
Business Line Canadian Banking Overview 13
Slide 14: Canadian Banking
Canadian Banking Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 11 million customers. Retail, Small Business and Commercial Banking customers receive service through its network of 895 branches and 3,556 automa
Slide 15: Canadian Banking
Canadian Banking $MM Q1/26 Y/Y Q/Q BUSINESS MIX Q1/265 Reported Net Income1 960 5% 2% Credit Cards Mortgages Revenue 3,514 3% 3% Retail 2% 62% Expenses 1,615 0% 0% 73% Personal Pre-Tax, Pre-Provision Profit2 1,899 5% 6% Revenue Loans Average Business 8% PCLs 576 7% 17% Mix Loans Banking Productivity
Slide 16: Business Banking
Business Banking AVERAGE NON-PERSONAL DEPOSITS ($BN) AVERAGE BUSINESS LOANS ($BN) 7% 3-yr CAGR 8% 3-yr CAGR 140 139 94 93 114 75 2022 2023 2024 2025 Q1/26 2022 2023 2024 2025 Q1/26 COMMERCIAL BANKING SMALL BUSINESS BANKING • Strategic focus on underpenetrated geographies (Quebec, Ontario, British •
Slide 17: Canadian Retail Loan Portfolio
Canadian Retail Loan Portfolio HIGH QUALITY RESIDENTIAL MORTGAGE PORTFOLIO R E T A I L L O A N B O O K 4,5 • 23% insured; remaining 77% uninsured has an LTV1 of 55% Spot Balance as of January 31, 2026 • Mortgage business model is “originate to hold” • New uninsured originations2 in Q1/26 had average
Slide 18: Canadian Residential Mortgages
Canadian Residential Mortgages LOAN-TO-VALUE2 in $Bn (Spot)1 Insured Variable 23% 35% 58% 58% 57% 57% 57% $315 $315 55% 54% 52% 52% 52% Uninsured Fixed 77% 65% Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Total Variable Asset yields on variable rate mortgages reprice with each change to Scotiabank’s prime rate UNI
Slide 19: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 174.5 Freehold 26.9 82% 64.4 $315 147.6 21.0 32.5 21.7 4.0 3.3 12.2 0.3 9.4 0.7 43.4 28.5 Condo 18.4 11.9 8.7 18% Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba & Saskatchewan % of portfolio 55.5% 2
Slide 20: Automotive Finance
Automotive Finance HIGHLIGHTS • Canada’s leader in retail automotive finance across the Canadian banks • Provides personal and commercial dealer financing solutions, in partnership with nine leading global automotive manufacturers in Canada • Average net loans decreased 4% year-over-year AVERAGE NET
Slide 21: Business Line Overview: International Banking
Business Line International Banking Overview 21
Slide 22: International Banking
International Banking International Banking is comprised of a strong and universal banking franchise that provides financial advice and solutions to over 8 million Retail, Commercial and GBM clients. Its geographic presence spans more than 12 countries, including Mexico, Chile, Peru, Brazil, Uruguay
Slide 23: International Banking
International Banking Constant dollar CFX Ex. BUSINESS MIX AS AT Q1/265 basis2 divestitures2 $MM Q1/26 Y/Y Q/Q Y/Y Q/Q Y/Y Q/Q Latin America Business Reported Central 80% Credit Cards 49% Net Income1 717 America 10% 13% 5% 9% 8% 11% 5% 1% Revenue 2,961 (2%) (3%) (7%) (6%) 4% 3% Revenue Average Mix A
Slide 24: International Retail & Commercial
International Retail & Commercial RETAIL BANKING COMMERCIAL BANKING • Retail banking serves the day-to-day banking needs of individual and • Commercial banking provides financial solutions to a variety of small business clients, providing personalized advice via physical and institutions including c
Slide 25: GBM International Banking
GBM International Banking DELIVERING THE FULL BANK TO MEET OUR AMERICAS CLIENTS’ NEEDS Q1/25 Q4/25 Q1/26 COMMENTARY Revenue 652 641 712 • Advisory, Financing and Risk Management Solutions, and access to Total NIAEH1 330 295 354 Capital Markets • Only full-service Corporate / Commercial Bank with loc
Slide 26: International Banking: Mexico
International Banking: Mexico1 MEXICO $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q1/25 Q4/25 Q1/26 Y/Y Q/Q Q1/25 Q4/25 Q1/26 Y/Y Q/Q Revenue 751 826 882 18% 7% 816 845 882 8% 4% Expenses 395 437 448 13% 3% 429 447 448 4% 0% Provision for Credit Losses 128 141 153 2
Slide 27: International Banking: Chile
International Banking: Chile1 CHILE $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q1/25 Q4/25 Q1/26 Y/Y Q/Q Q1/25 Q4/25 Q1/26 Y/Y Q/Q Revenue 608 642 659 8% 3% 642 674 659 3% (2%) Expenses 281 278 291 3% 5% 293 290 291 (1%) 0% Provision for Credit Losses 192 210 226 1
Slide 28: International Banking: Peru
International Banking: Peru1 PERU $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q1/25 Q4/25 Q1/26 Y/Y Q/Q Q1/25 Q4/25 Q1/26 Y/Y Q/Q Revenue 500 394 458 (8%) 16% 537 407 458 (15%) 13% Expenses 204 208 201 (2%) (4%) 217 213 201 (8%) (6%) Provision for Credit Losses 112
Slide 29: International Banking: Caribbean
International Banking: Caribbean1 CARIBBEAN $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q1/25 Q4/25 Q1/26 Y/Y Q/Q Q1/25 Q4/25 Q1/26 Y/Y Q/Q Revenue 569 562 569 0% 1% 549 561 569 3% 1% Expenses 292 269 297 1% 11% 284 268 297 4% 11% Provision for Credit Losses 34 29 2
Slide 30: Business Line Overview: Global Wealth Management
Business Global Wealth Line Overview Management 30
Slide 31: Global Wealth Management
Global Wealth Management Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank’s footprint. Global Wealth Management serves over 2 million investment fund and advisory clients across 9 countries – administering over $800 b
Slide 32: Global Wealth Management
Global Wealth Management $MM Q1/26 Y/Y Q/Q REVENUE MIX AS AT Q1/26 Reported Net Income1 481 18% 8% Revenue 1,801 14% 6% Expenses 1,146 12% 5% Pre-Tax, Pre-Provision Profit2 655 18% 7% International PCLs 4 (1%) (15%) 13% Productivity Ratio3 63.6% (110 bps) (60 bps) Spot AUM ($Bn)3 436 10% 1% Revenue
Slide 33: Global Wealth Management
Global Wealth Management 3RD LARGEST WEALTH MANAGEMENT BUSINESS IN CANADA1 CANADA USA MEXICO CHILE PERU CARIBBEAN ASSET MANAGEMENT WEALTH MANAGEMENT A broad range of actively managed investment solutions A powerful advisory and distribution network across from our innovative platform Canada and Lati
Slide 34: Global Wealth Management
Global Wealth Management MARKET LEADING CAPABILITIES AWARD-WINNING INVESTMENT MANAGEMENT TAILORED ADVICE & SOLUTIONS • Scotia Global Asset Management’s investment teams were recognized • Scotia Wealth Management was recognized with two awards from at the 2025 FundGrade A+ Awards with 20 awards acros
Slide 35: Business Line Overview: Global Banking and Markets
Business Global Banking Line Overview and Markets 35
Slide 36: Global Banking and Markets
Global Banking and Markets Global Banking and Markets (GBM) provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. GBM is a full-service wholesale bank in the Americas, serving clients across Canada, the United States, Latin America
Slide 37: Global Banking and Markets
Global Banking and Markets $MM Q1/26 Y/Y Q/Q BUSINESS MIX AS AT Q1/265 Reported Net Income1 545 5% 5% Asia Business Revenue 1,768 11% 12% 1% Canada Banking Expenses 1,012 14% 13% 46% 43% Europe Pre-Tax, Pre-Provision Profit2 756 8% 10% 8% PCLs 60 100%+ 100%+ Revenue Global Revenue Productivity Ratio
Slide 38: GBM in the U.S.
GBM in the U.S. DELIVERING THE FULL BANK TO MEET OUR AMERICAS CLIENTS’ NEEDS Q1/25 Q4/25 Q1/26 COMMENTARY Revenue 763 778 800 • Corporate & Investment Banking, Capital Markets, Deposits, and Total NIAEH1 296 307 250 Trade Finance • Ranked 11th largest Foreign Bank Organization2 (FBO) in the US Produ
Slide 39: Risk Overview
Risk Overview 39
Slide 40: Risk Snapshot (Q1/26)
Risk Snapshot (Q1/26) RWA BREAKDOWN1 CREDIT EXPOSURE BY COUNTRY BUSINESS & GOVERNMENT LOANS • Total loans $270Bn As at October 31, 2025 • As a percentage of total loans and acceptances: Canada Real estate and contractors 7.6% U.S. Credit Risk 2% 68% Chile Financial services 4.6% 3% 3% Operational Ri
Slide 41: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS • Total ACL ratio of 94 bps, down 4 bps Q/Q 95 bps 96 bps 98 bps • Ex. Divestiture, ACL ratio up 2 bps Q/Q 91 bps 94 bps o Performing down $415 MM Q/Q 7,386 7,654 7,080 7,276 7,185 o -$496 MM from divestitures o +$65 MM of perfo
Slide 42: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 GIL FORMATIONS ($MM) 93 bps 95 bps 91 bps 90 bps 90 bps 2,383 2,447 2,483 40 2,553 7 2,285 17 5 17 231 109 178 157 25 72 7,244 7,248 91 7,064 6,849 6,890 92 79 71 83 86 158 43 58 259 1,106 1,042 1,063 948 108 2,248 2,013 1,050 2,245 2
Slide 43: Provision for Credit Losses
Provision for Credit Losses $MM Q/Q HIGHLIGHTS $MM Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 All-Bank • Total PCL ratio1 of 61 bps, up 3 bps Q/Q Impaired 1,064 1,052 975 1,042 1,103 o Performing of 3 bps, down 1 bp Q/Q Performing 98 346 66 71 73 o Impaired of 58 bps, up 4 bps Q/Q Total 1,162 1,398 1,041 1,113 1
Slide 44: Canadian Retail Portfolio
Canadian Retail Portfolio COMMENTARY PCLS BY PRODUCT • Total Canadian retail loans of $403 Bn 15 MORTGAGES o ~53% of total gross loans and acceptances 6 5 6 4 4 o ~94% of the portfolio is secured 3 2 • Portfolio 90+ day delinquency was 39 bps, up 5 bps Q/Q, with increases seen 3 4 4 4 3 across produ
Slide 45: International Banking Retail Portfolio
International Banking Retail Portfolio COMMENTARY PCLS BY COUNTRY • Total International retail loans of $79 Bn MEXICO o ~11% of total gross loans and acceptances 231 211 208 185 201 204 o ~77% of the portfolio is secured 128 129 • Portfolio 90+ day delinquency was 3.31%, up 21 bps Q/Q, with increase
Slide 46: Business & Government Portfolio
Business & Government Portfolio COMMENTARY GROSS IMPAIRED LOANS AND PCL RATIO1 • Total Business and Government loans of $270 Bn 45 39 33 35 o Representing 51% of total gross loans and acceptances 29 o B&G portfolio is well-diversified by industry and geography 3,333 3,210 3,183 3,270 3,230 o 47% Can
Slide 47: Commercial Real Estate
Commercial Real Estate Portfolio comprised of Commercial Real Estate, and Contractor loans which include Engineering & Project Management and Trade Contractors SPOT LOANS OUTSTANDING1 HIGHLIGHTS Q1/25 Q4/25 Q1/26 • ~7.6% of the Bank’s total loans Total Portfolio: $58.1Bn Y/Y: (-10%) • Geographically
Slide 48: Sustainability Highlights
Sustainability Highlights GOALS SUSTAINABILITY RATINGS $350 billion in climate-- $500 million of community ENVIRONMENTAL ECONOMIC related finance (as defined investment through ACTION INCLUSION below)1 by 2030 ScotiaRISE by 2030 66/1002 Best--in-Class Q1 2026 HIGHLIGHTS North America Index3 • Scotia
Slide 49: Treasury and Funding
Treasury and Funding 49
Slide 50: Key Liquidity Metrics
Key Liquidity Metrics LIQUIDITY COVERAGE RATIO (LCR)1 HIGHLIGHTS • Strong liquidity well in excess of regulatory requirements 132% 129% 133% 131% 128% 131% 126% 128% 122% • LCR1 of 122%, stable down 600 bps Y/Y and Q/Q • Selected LCRs: Chile – 126%, Mexico – 139%, Peru – 173% Q1/24 Q2/24 Q3/24 Q4/24
Slide 51: Deposits
Deposits AVERAGE DEPOSITS BY SEGMENT6 Q1/26 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM Notice - Term - Business 2 Business 3 730 727 736 733 9% 706 17% 682 Demand- Personal 1 6% 378 381 375 372 340 367 Demand - $733 Bn 1 Business Notice - 125 130 127 134 126 130 34% Personal 2 17% 182 172 176 179 177
Slide 52: Funding Strategy
Funding Strategy DIVERSIFIED FUNDING SOURCES • Increase contribution from core customer deposits • Manage to prudent level of wholesale funding utilization and TLAC1 • Maintain balance between efficiency and stability of funding while supporting the Bank’s strategy • Diversify funding by type, curre
Slide 53: Wholesale Funding
Wholesale Funding FUNDING PROGRAMS1 TERM FUNDING CONTRACTUAL MATURITY TABLE2 Global Registered Covered Bond Program CDE ($Bn) 57 (uninsured Canadian mortgages) Limit – CAD 100 billion 8 US Debt & Equity Shelf 4 (senior / subordinated debt, preferred and common shares) 39 5 Limit – USD 50 billion 2 E
Slide 54: Wholesale Funding Utilization
Wholesale Funding Utilization WHOLESALE FUNDING / TOTAL ASSETS HIGHLIGHTS • Wholesale funding utilization continues to be well managed 22.7% • Wholesale funding of $279 Bn, up $8.6 Bn Q/Q (+$11.4 Bn money market funding1 and -$2.8 Bn term funding) and up 20.6% $0.5 Bn Y/Y 22.8% 21.8% 19.9% • Wholesa
Slide 55: TLAC and Leverage Ratio
TLAC and Leverage Ratio TLAC RATIO1 • 28.6% TLAC1 is above 25.08% regulatory minimum3, down 50 bps Q/Q and down 20 bps Y/Y 28.8% 29.1% 28.6% 25.08% Other 12.0% 12.0% 11.6% TLAC4 Other 10.0% TLAC4 1.8% 1.6% T2 1.7% 2.0% Tier 2 2.1% 2.1% AT1 2.2% 1.5% Additional Tier 1 0.08% Countercyclical Buffer 3.5
Slide 56: Scotiabank Credit Ratings
Scotiabank Credit Ratings Fitch Ratings Moody’s Morningstar DBRS Standard & Poor's Legacy Senior Debt1 AA Aa2 AA A+ Senior Debt2 AA- A2 AA (low) A- Subordinated Debt (NVCC) A Baa1 (hyb) A (low) BBB+ Subordinated Additional Tier 1 Capital Notes (NVCC) BBB+ Baa3 (hyb) BBB (high) BBB- Limited Recourse
Slide 57: Appendix 1: Economics
Appendix 1 Economics
Slide 58: GDP in Core Markets
GDP in Core Markets REAL GDP (ANNUAL % CHANGE) Forecast1 2010-20 2026 2027 Country 2023 2024 2025E2 Average Q1F Q2F Q3F Q4F Full Year Q1F Q2F Q3F Q4F Full Year Canada 1.6 2.0 2.0 1.6 0.7 1.7 1.5 2.2 1.5 2.1 2.0 2.1 2.0 2.0 U.S. 2.0 2.9 2.8 2.2 2.8 2.1 1.3 1.5 1.9 1.5 1.8 2.2 2.4 2.0 Mexico 1.4 3.1 1
Slide 59: Economic Outlook and Indicators
Economic Outlook and Indicators E C O N O M I C I N D I C A T O R S ( % ) 1,2,3 Canada United States Mexico 2025E 2026F 2027F 2025E 2026F 2027F 2025E 2026F 2027F Central Bank Rates 2.25 2.75 3.00 3.75 3.00 3.00 7.00 6.50 6.75 Unemployment Rate 6.9 6.4 5.9 4.3 4.4 4.1 2.6 3.3 3.8 Core Inflation Rate
Slide 60: Interest Rate Sensitivity and Outlook
Interest Rate Sensitivity and Outlook NET INTEREST INCOME SENSITIVITY1 POLICY RATE CHANGE AND OUTLOOK3 • Impact of an immediate and sustained 100 bps parallel shift on Policy net interest income (NII) over a 12-month period Rate Change by BNS Fiscal Quarters (bps) Current Forecast Policy Rate rate o
Slide 61: Canadian Economic Overview
Canadian Economic Overview COMMENTARY REAL GDP GROWTH1 • Though volatility stemming from U.S. tariff and trade policy has faded from the highs witnessed in the first half of 2025, expectations for economic growth in 15.0 % change y/y Canada and its G7 peers remain modest for 2026, as high economic u
Slide 62: Canadian Economic Overview
Canadian Economic Overview COMMENTARY PRODUCTIVITY1 • After peaking at Y/Y growth of 3.2% in April 2024, tightened immigration 115 policies via reduced permanent resident (“PR”) targets and restricted temporary index, 2019=100 resident (“TR”) intake targets, along with lower-than-expected arrivals a
Slide 63: Canadian Economic Overview
Canadian Economic Overview TRADE POLICY UNCERTAINTY1 UNEMPLOYMENT AND EMPLOYMENT GROWTH2 60 16 66 % % index 64 50 14 62 40 12 60 30 10 58 56 20 8 54 10 6 52 0 4 50 15 16 17 18 19 20 21 22 23 24 25 26 15 16 17 18 19 20 21 22 23 24 25 26 Shaded areas represent each era of Donald Trump's presidency. Un
Slide 64: Canadian Housing Market
Canadian Housing Market COMMENTARY HOUSING PRICE INDEX1 • There were 258.3K housing starts over January-December 2025 in Canada, a 450 70 rise from its performance in 2023 and 2024. Although significantly above index, Jan-2005=100 (S.A.) units, 000s historical levels in recent years, housing starts
Slide 65: Mexican Economy
Mexican Economy COMMENTARY MEXICAN Q4/25 GDP BY INDUSTRY1 • GDP showed only a mild recovery at the end of 2025, underscoring persistent weakness Health & Education • Preliminary data revealed a stronger-than-expected rebound in Q4-25 (+1.6% Finance, Insurance, & Real 6% y/y), mainly driven by servic
Slide 66: Peruvian Economy
Peruvian Economy COMMENTARY PERUVIAN Q4/25 GDP BY INDUSTRY1 • GDP grew by 3.4% between January and November, driven by sectors linked to domestic demand, such as services and commerce. In contrast, the extractive sectors showed a slowdown in Q4-2025 Wholesale & Retail • Inflation stood at 1.5% in 20
Slide 67: Chilean Economy
Chilean Economy COMMENTARY CHILEAN Q3/25 GDP BY INDUSTRY1 • Recovery of confidence as the new president is expected to have an agenda of deregulation and economic growth (reduction in the corporate tax rate from Natural Resource 27% to 23%; unlocking US$ 5 bn in non-mining investment; capital market
Slide 68: Appendix 2: Bail-in, TLAC, NVCC and LRCN
Appendix 2 Bail-in, TLAC, NVCC and LRCN
Slide 69: Canadian Bail-in Regulations: Key Features
Canadian Bail-in Regulations: Key Features APPROACH • Post September 23, 2018, prescribed shares and liabilities, including senior unsecured debt with original term >400 days, issued by Canadian D-SIBs are subject to bail-in conversion. Canadian bank term senior unsecured debt1 is a single class of
Slide 70: Canadian Bail-in Regulations: Jurisdictional Comparison
Canadian Bail-in Regulations: Jurisdictional Comparison LIQUIDATION1 RESOLUTION OTHER JURISDICTIONS Opco non- Instrument type Opco senior Opco senior Holdco senior Holdco senior2 Holdco senior preferred senior Pari passu with deposits and other Structural Structural Structural Contractual Ranking St
Slide 71: Summary of Bail-in / TLAC Regime
Summary of Bail-in / TLAC Regime Scope OSFI designated DSIBs Senior unsecured debt that is tradeable and transferable, original term >400 days, unsecured and issued, originated or amended after Scope of bail-in instruments September 23, 2018 Liabilities excluded from Insured deposits, uninsured depo
Slide 72: Non-Viability Contingent Capital (NVCC)
Non-Viability Contingent Capital (“NVCC”) APPROACH • In order to qualify for inclusion in regulatory capital, all non-common Tier 1 and tier 2 capital instruments must be capable of absorbing losses at the point-of-non-viability of a financial institution • NVCC provisions dictate that upon occurren
Slide 73: LRCN Overview
LRCN Overview BNS LIMITED RECOURSE CAPITAL NOTES (“LRCN”) STRUCTURAL OVERVIEW 1 The Bank of Nova Scotia (Issuer) Proceeds 1 • LRCNs issued directly by The Bank of Nova Scotia (“BNS”, “Scotiabank” or the “Bank”) Investors • Ongoing coupon payments are paid by BNS and derived from the Bank’s internal
Slide 74: BNS AT1 Capital Instrument Features
BNS AT1 Capital Instrument Features LRCN AT1 Notes Issuing Entity: The Bank of Nova Scotia The Bank of Nova Scotia Note / Note / Format / Denomination: C$1,000 or US$1,000 Par1 C$1,000 or US$1,000 Par Capital Treatment: Additional Tier 1 Additional Tier 1 Junior Subordinated Indebtedness (Pari-passu
Slide 75: Appendix 3: Covered Bonds
Appendix 3 Covered Bonds
Slide 76: Global Registered Covered Bond Program
Global Registered Covered Bond Program HIGHLIGHTS • Able to issue across multiple currencies such as CAD, USD, EUR, GBP, AUD, CHF and NOK • CAD $53 billion outstanding1 vs. CAD $100 billion program size2 • Extensive regulatory oversight and pool audit requirements • Mandatory property value indexati
Slide 77: Global Registered Covered Bond Program
Global Registered Covered Bond Program1 LOAN-TO-VALUE RATIOS2 CREDIT SCORES3 78% 34% 27% 25% 8% 6% 13% 6% 0% 1% 2% 0-20% 20-40% 40-60% 60-80% 80+% <599 600-650 651-700 701-750 751-800 800+ REMAINING TERM DISTRIBUTION (MONTHS) PROVINCIAL DISTRIBUTION Ontario 35% 59.5% 31% Other4 2.8% Saskatchewan 1.5
Slide 78: Canadian Legislative Covered Bonds
Canadian Legislative Covered Bonds CMHC REGISTERED • Canadian Registered Covered Bond Programs’ Legal Framework (Canadian National Housing Act) Issuance Framework • Canadian Registered Covered Bond Programs Guide issued by Canada Mortgage and Housing Corporation (CMHC) Eligible Assets • Uninsured lo
Slide 79: All Bank: Impact of Closed Divestitures
All Bank: 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. o The transaction impacted both International Banking and Global Wealth Management • On February 28,
Slide 80: International Banking: Impact of Closed Divestitures
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. (Cred
Slide 81: Appendix 4: Non-GAAP Measures
Appendix 4 Non-GAAP Measures
Slide 82: Non-GAAP Measures
Non-GAAP Measures The Bank uses a number of financial measures and ratios to assess its performance, as well as the performance of its operating segments. Some of these financial measures and ratios are presented on a non-GAAP basis and are not calculated in accordance with Generally Accepted Accoun
Slide 83: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three months ending January 31, 2026 October 31, 2025 January 31, 2025 Global Wealth Global Wealth Global Wealth $MM (unless indicated otherwise) Other All Bank Other All Bank Other All Bank Management Management Management Reported Results Total revenue 1,801 (398) 9,646 1,
Slide 84: Non-GAAP Reconciliations
Non-GAAP Reconciliations Footnotes 1. These costs relate to the amortization of intangible assets recognized upon the acquisition of businesses, excluding software. The costs are recorded in non-interest expenses – depreciation and amortization for the Canadian Banking, International Banking and Glo
Slide 85: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($MM, unless otherwise specified) Q1/25 Q4/25 Q1/26 Calculation of Reported and Adjusted Earnings per Share Reported Results Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 1,025 2,104 2,155 Dilutive impact of share-based payment
Slide 86: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($MM) Q1/25 Q4/25 Q1/26 Return on Equity and Return on Tangible Common Equity Reported Average common equity – Reported1 74,077 76,093 77,288 Average goodwill1,2 (9,539) (9,917) (9,984) Average acquisition-related intangibles (net of deferred tax)1 (3,597) (3,558) (3,545) Av
Slide 87: Non-GAAP Reconciliations
Non-GAAP Reconciliations All Bank International Banking Q1/25 Q4/25 Q1/26 Q1/25 Q4/25 Q1/26 Net Interest Margin Average core earning assets1 954,499 949,382 939,927 196,779 196,432 188,010 Less: Average core earning assets from divested operations 20,368 20,585 6,960 20,101 20,307 6,850 Average core
Slide 88: Non-GAAP Reconciliations
Non-GAAP Reconciliations All Bank Q1/25 Q4/25 Q1/26 Reported to Adjusted Results – All Bank ex. divestitures Net interest income 5,173 5,586 5,582 Non-interest income 4,199 4,217 4,064 Total revenue 9,372 9,803 9,646 Provision for credit losses 1,162 1,113 1,176 Non-interest expenses 6,491 5,828 5,2
Slide 89: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM For the three months ended October 31, 2025 January 31, 2025 Foreign Constant Foreign Constant Reported Reported Exchange Dollar Exchange Dollar International Banking – Constant Dollar Reported Net interest income 2,273 (62) 2,335 2,169 (112) 2,281 Non-interest income 77
Slide 90: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM (unless specified otherwise) Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Net Interest Margin and Risk Adjusted Margin - All Bank Average total assets1 1,460,615 1,468,310 1,445,858 1,486,529 1,497,957 Less: Non-earning assets 115,155 118,403 114,263 115,239 120,352 Average total earni
Slide 91: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM (unless specified otherwise) Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Net Interest Margin and Risk Adjusted Margin - International Banking Average total assets1 228,877 229,118 223,347 226,015 219,139 Less: Non-earning assets 14,883 13,917 13,442 13,134 13,644 Average total earning
Slide 92: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM (unless otherwise specified) Mexico Chile Peru Caribbean Q1/25 Q4/25 Q1/26 Q1/25 Q4/25 Q1/26 Q1/25 Q4/25 Q1/26 Q1/25 Q4/25 Q1/26 Net Interest Margin and Risk Adjusted Margin Average total assets2 62,769 65,257 68,194 64,796 63,843 66,263 30,162 30,806 32,117 27,413 27,09
Slide 93: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM unless otherwise specified Mexico Peru Chile Caribbean Other Total IB Total IB Return on Tangible Common Equity Goodwill & Attributed Average Tangible Common Equity Intangibles Capital Q1/26 4,088 2,204 4,501 1,986 2,035 14,814 3,022 17,836 Q4/25 4,027 2,097 4,319 1,857
Slide 94: Glossary – Other Financial Measures
Glossary – Other Financial Measures The ratio of period end total allowance for credit losses (excluding debt securities and deposits with financial institutions) divided by gross loans and Allowance for Credit Losses (ACL) Ratio acceptances. Assets administered by the Bank which are beneficially ow
Slide 95: Contact Information
Investor Relations Meny Grauman Rebecca Hoang Senior Vice President Vice President meny.grauman@scotiabank.com rebecca.hoang@scotiabank.com Contact Information Funding Brandon Konigsberg Agnes Vara EVP and Group Treasurer Managing Director brandon.konigsberg@scotiabank.com agnes.vara@scotiabank.com