Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — Scotiabank — Investor Presentation (August 2025)
107 slides from Bank Of Nova Scotia's investor presentation, August 2025
Slide 1: Investor Presentation
Investor Presentation August 2025
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 accounting standards, rules and interpretations on these estimates; global capital markets written forward-looking statements. Statements of this type are included in
Slide 3: Table of Contents
Table of Contents Scotiabank Overview 4 Business Line Overview: Canadian Banking 16 Business Line Overview: International Banking 24 Business Line Overview: Global Wealth Management 31 Business Line Overview: Global Banking and Markets 36 Risk Overview 40 Treasury and Funding 49 Appendix 1: Economic
Slide 4: About Scotiabank
About Scotiabank Q3/25 HIGHLIGHTS Q3/25 EARNINGS1 BY MARKET Q3/25 Q3/24 Other 2 2 17% Reported Adjusted Reported Adjusted English Net Income1 ($Bn) 2.4 2.5 1.9 2.2 9% Caribbean $2.4Bn 8% 56% Canada Diluted EPS ($) 1.84 1.88 1.41 1.63 Mexico 10% Revenue ($Bn) 9.5 9.5 8.4 8.5 U.S.A Return on Equity3 1
Slide 5: Our Strategy
Our Strategy Be our clients’ most trusted financial partner to drive sustainable, profitable growth and maximize total shareholder return. Earn Make it easy Grow and scale Win as primary client to do in priority businesses one team relationships business with us OUR PURPOSE & VALUES M E D I U M - T
Slide 6: Global Must Win Medium-Term Priorities
Global Must Win Medium-Term Priorities Unlock Retail deposits, investments and client primacy Enhance payments and Heighten focus on cash management Mexico solutions Commercial Pursue thoughtful Expand Cloud productivity and capabilities efficiency initiatives 6
Slide 7: 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 FY2024 EARNINGS BY GEOGRAPHY1 Global Business Lines $9.3Bn Banking and Other -$1.5Bn Reported NIAEH $7.8Bn 82% of Earnings are in Markets 16% 49% North America Canadian Global FY2024 Banking
Slide 8: Business Lines (Q3/25 Results)
Business Lines (Q3/25 Results) BUSINESS CANADIAN INTERNATIONAL GLOBAL WEALTH GLOBAL BANKING LINE BANKING BANKING MANAGEMENT AND MARKETS Products • Mortgages • Mortgages • Asset Management • Corporate Lending • Auto Loans • Auto Loans • Private Banking • Advisory • Business Loans • Personal Loans • P
Slide 9: Business Line Snapshot
Business Line Snapshot CANADIAN BANKING($BN) INTERNATIONAL BANKING ($BN) Loans 8% 3-yr Deposit 7% 3-yr Deposit Deposits CAGR CAGR 446 447 461 175 171 426 165 152 378 367 377 141 340 125 130 130 294 308 104 107 2021 2022 2023 2024 Q3/25 2021 2022 2023 2024 Q3/25 GLOBAL WEALTH MANAGEMENT ($BN) GLOBAL
Slide 10: Q3 2025 Financial Performance
Q3 2025 Financial Performance $MM, except EPS Q3/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported Net Income $2,527 32% 24% • Diluted EPS up 31%, adjusted1 up 15% Diluted EPS $1.84 31% 25% o Higher revenues partially offset by higher expenses and taxes Revenue $9,486 13% 4% • Revenues up 13% Expenses $5,089 3% (0
Slide 11: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • The CET1 ratio of 13.3%, improved by ~10 basis points Q/Q: • Strong internal capital generation (+13 bps), higher unrealized FVOCI2 securities gains (+4 bps), net of share repurchases of 3.2 million shares (- 5 bps) 13.2% 20 bps 4 bps 1 bp 13.3
Slide 12: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q3/24 Q2/25 Q3/25 Y/Y Capital Metrics CET1 Ratio1 13.3% 13.2% 13.3% 0 bps Tier 1 Capital Ratio1 15.3% 15.4% 15.2% (10 bps) 1 Total Capital Ratio 17.1% 17.1% 16.9% (20 bps) 2 TLAC Ratio 29.1% 30.3% 29.0% (10 bps) Leverage Ratio3 4.5% 4.5%
Slide 13: TLAC and Leverage Ratio
TLAC and Leverage Ratio TLAC RATIO1 29.1% 30.3% 29.0% 25.07% Other 13.2% Other 10.0% 12.0% 12.1% TLAC4 TLAC4 2.0% Tier 2 1.8% 1.7% 1.7% T2 1.5% Additional Tier 1 2.0% 2.2% 1.9% 0.07% Countercyclical Buffer AT1 3.5% Domestic Stability Buffer 1.0% D-SIB Buffer 2.5% Capital Conservation Buffer 13.3% 13
Slide 14: 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 ) • Streamlined the digital onboarding experience for students and newcome
Slide 15: Sustainability Highlights
Sustainability Highlights GOAL CUMULATIVE PERFORMANCE ENVIRONMENTAL ACTION $350 billion in climate-related finance (as defined below)1 by 2030 $172 billion provided as at October 31, 2024 $500 million of community investment through ScotiaRISE by $156 million provided as at October 31, 2024, ECONOMI
Slide 16: Business Line Overview: Canadian Banking
Business Line Canadian Banking Overview 16
Slide 17: 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 891 branches and 3,550 automa
Slide 18: Canadian Banking
Canadian Banking $MM Q3/25 Y/Y Q/Q BUSINESS MIX Q3/256 Reported Retail Net Income1 958 (2%) 56% Mortgages 74% Revenue 3,371 2% 4% Credit Cards 62% Expenses 1,596 4% 1% 2% Revenue Average Pre-Tax, Pre-Provision Profit2 1,775 0% 7% Mix Personal Loans Loans $460.8Bn PCLs 456 5% (43%) $3.4Bn 8% Producti
Slide 19: Business Banking
Business Banking AVERAGE NON-PERSONAL DEPOSITS ($BN) AVERAGE BUSINESS LOANS ($BN) 9% 3-yr CAGR 15% 3-yr CAGR 135 139 93 94 105 62 2021 2022 2023 2024 Q3/25 2021 2022 2023 2024 Q3/25 COMMERCIAL BANKING SMALL BUSINESS BANKING • Strategic focus on underpenetrated geographies (Quebec, Ontario, British •
Slide 20: 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 52% Spot Balance as of Q3/25 • Mortgage business model is “originate to hold” Real Estate • New uninsured originations2 in Q3/25 had averag
Slide 21: Canadian Residential Mortgages
Canadian Residential Mortgages Asset yields on variable rate mortgages reprice with each change to Scotiabank’s prime rate MORTGAGE PORTFOLIO1 in $Bn (Spot) 23% 34% in $Bn (Spot) Mortgage Portfolio Variable Mortgages Insured Variable Total Outstanding Balance $306 $103 Uninsured Outstanding Balance
Slide 22: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 83% ($253Bn) Freehold 170.1 25.8 62.0 Total 144.3 19.6 32.0 20.4 11.8 9.3 Portfolio1 42.4 3.9 3.1 0.3 0.7 28.1 $306Bn Ontario BC & Territories Alberta 17.3 Quebec 11.5 Atlantic 8.6 Manitoba & Provinces Saskatchewan 17%
Slide 23: 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 ten leading global automotive manufacturers in Canada • Average net loans and acceptances decreased 3% year-over-y
Slide 24: Business Line Overview: International Banking
Business Line International Banking Overview 24
Slide 25: International Banking
International Banking International Banking is a strong and diverse franchise serving over 12 million Retail, Corporate, and Commercial clients with a presence in 15+ countries, including Mexico, Chile, Peru, Colombia, Brazil, Uruguay, and various markets in the Caribbean and Central America. This u
Slide 26: International Banking
International Banking Constant dollar basis2 BUSINESS MIX AS AT Q3/256 $MM Q3/25 Y/Y Q/Q Y/Y Q/Q Reported Latin Credit Central America Cards Business Net Income1 670 6% (1%) 8% 1% America 77% 5% 49% Revenue 3,003 1% 1% 3% 3% 4% Revenue Auto Average Expenses 1,511 (2%) (1%) (1%) 0% Mix Loans Pre-Tax,
Slide 27: International Retail & Commercial
International Retail & Commercial RETAIL BANKING COMMERCIAL BANKING • Retail banking serves the day-to-day banking needs of individual • Commercial banking provides financial solutions to a variety of and small business clients, providing personalized advice via institutions including cross border c
Slide 28: International Banking: Mexico and Chile
International Banking: Mexico and Chile1 MEXICO CHILE $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q3/25 Y/Y Q/Q Y/Y Q/Q Q3/25 Y/Y Q/Q Y/Y Q/Q Revenue 767 (2%) 1% 4% (1%) Revenue 613 3% (6%) 4% (3%) Expenses 403 (6%) 1% 0% (2%) Expenses 285 2% 0% 3% 2% Provision for credit losses
Slide 29: International Banking: Peru and Colombia
International Banking: Peru and Colombia1 PERU COLOMBIA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q3/25 Y/Y Q/Q Y/Y Q/Q Q3/25 Y/Y Q/Q Y/Y Q/Q Revenue 413 (10%) (2%) (13%) (1%) Revenue 302 5% 6% 8% 8% Expenses 186 (5%) (4%) (8%) (3%) Expenses 179 (7%) 1% (4%) 3% Provision for cr
Slide 30: International Banking: Caribbean and Central America
International Banking: Caribbean and Central America1 CARIBBEAN CENTRAL AMERICA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q3/25 Y/Y Q/Q Y/Y Q/Q Q3/25 Y/Y Q/Q Y/Y Q/Q Revenue 567 6% 5% 6% 8% Revenue 112 0% 6% (2%) 9% Expenses 268 0% (3%) 1% (1%) Expenses 78 0% 2% (1%) 5% Provisi
Slide 31: Business Line Overview: Global Wealth Management
Business Global Wealth Line Overview Management 31
Slide 32: 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 12 countries – administering over $750
Slide 33: Global Wealth Management
Global Wealth Management $MM Q3/25 Y/Y Q/Q REVENUE MIX AS AT Q3/25 Reported Net Income1 $417 14% 5% Revenue $1,604 12% 4% Expenses $1,030 11% 3% International Pre-Tax, Pre-Provision Profit2 $574 14% 6% 13% PCLs $4 (65%) 94% Productivity Ratio3 64.2% (60 bps) (50 bps) Revenue Spot AUM ($Bn)3 $407 12%
Slide 34: Global Wealth Management
Global Wealth Management 3RD LARGEST WEALTH MANAGEMENT BUSINESS IN CANADA1 CANADA MEXICO CHILE COLOMBIA PERU C&CA ASSET MANAGEMENT WEALTH MANAGEMENT A broad range of actively managed investment A powerful advisory and distribution network solutions from our innovative platform across Canada and Lati
Slide 35: Global Wealth Management
Global Wealth Management MARKET LEADING CAPABILITIES AWARD-WINNING INVESTMENT MANAGEMENT TAILORED ADVICE & SOLUTIONS • Scotia Global Asset Management's investment teams were • Scotia Wealth Management was recognized with seven recognized with 24 awards at the annual FundGrade A+ Awards Euromoney Pri
Slide 36: Business Line Overview: Global Banking and Markets
Business Global Banking Line Overview and Markets 36
Slide 37: 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 38: Global Banking and Markets
Global Banking and Markets $MM Q3/25 Y/Y Q/Q BUSINESS MIX AS AT Q3/256 Reported Net Income1 473 29% 15% Business Canada Revenue 1,530 21% 5% Asia Banking 49% Expenses 894 16% 2% 2% 45% Global Pre-Tax, Pre-Provision Profit2 636 29% 10% Equities Revenue Revenue PCLs 19 6% (53%) Europe 19% Mix Mix 7% P
Slide 39: GBM in the US and International Banking
GBM in the US and International Banking DELIVERING THE FULL BANK TO MEET OUR AMERICAS CLIENTS’ NEEDS GBM INTERNATIONAL GBM US GBM International US Q3/25 BANKING Banking1 • Corporate & Investment Banking, • Advisory, Financing and Risk Capital Markets, Deposits, and Management Solutions, and access T
Slide 40: Risk Overview
Risk Overview 40
Slide 41: Risk Snapshot (Q3/25)
Risk Snapshot (Q3/25) BUSINESS AND GOVERNMENT RWA BREAKDOWN1 CREDIT EXPOSURE BY COUNTRY EXPOSURE BY SECTOR2 As at October 31, 2024 • Total loans $283Bn • As a percentage of total loans and acceptances: Canada U.S. Real estate and contractors 8.1% Credit Risk 68% Chile Financial services 4.0% 3% 1% 3
Slide 42: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS 91 bps 95 bps 96 bps • Total ACL ratio of 96 bps, up 1 bp Q/Q 89 bps 88 bps o Performing allowances were ~$5.2 billion, up $77 million Q/Q 7,276 7,386 (+53 million ex. F/X), due primarily to credit quality migration 6,860 6,736
Slide 43: Provision for Credit Losses
Provision for Credit Losses $MM $MM Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q/Q HIGHLIGHTS All-Bank Impaired 970 1,043 1,064 • Total PCL ratio of 55 bps, down 20 bps Q/Q: 1,052 975 Performing 82 (13) 98 346 66 o Performing provisions (4 bps); related to credit quality Total 1,052 1,030 1,162 1,398 1,041 migra
Slide 44: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 GIL FORMATIONS ($MM) 84 bps 88 bps 91 bps 90 bps 90 bps 2,529 2,383 2,447 2,334 26 7 2,285 17 15 17 97 109 109 178 235 91 6,739 7,064 6,849 6,890 6,489 71 83 86 66 71 1,055 1,106 1,042 156 158 108 43 1,050 54 2,208 2,245 2,128 2,175 1
Slide 45: Canadian Retail: Loans and Provisions
Canadian Retail: Loans and Provisions 1 MORTGAGES AUTO LOANS 15 179 10 152 153 158 143 135 106 113 6 5 6 3 3 4 4 3 141 144 150 111 114 106 89 104 1 4 1 4 2 3 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 LINES OF CREDIT CREDIT CARDS 855 167 171 137 1
Slide 46: International Retail: Loans and Provisions
International Retail: Loans and Provisions CARIBBEAN AND MEXICO CHILE CENTRAL AMERICA 231 224 204 151 175 211 188 188 187 136 136 139 MARKETS 185 201 175 162 124 122 137 WITH 148 155 137 128 129 GREATER 196 207 182 174 135 168 166 146 160 168 WEIGHTING 154 168 105 101 114 117 118 128 128 94 124 107
Slide 47: Retail 90+ Days Past Due Loans
Retail 90+ Days Past Due Loans1 Canada Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Mortgages 0.16% 0.20% 0.19% 0.20% 0.23% 0.24% 0.24% 0.24% Personal Loans 0.69% 0.55% 0.50% 0.50% 0.51% 0.57% 0.51% 0.49% Credit Cards 0.70% 0.79% 0.79% 0.74% 0.86% 1.10% 1.13% 0.96% Secured and 0.29% 0.33% 0.31% 0
Slide 48: 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 Q3 24 Q2 25 Q3 25 Total Portfolio: $62.6Bn • Portfolio at $62.6 Bn represents 8.1% of total loans and Y/Y
Slide 49: Treasury and Funding
Treasury and Funding 49
Slide 50: Highlights
Highlights STRONG LIQUIDITY, STABLE FUNDING • Strong liquidity well in excess of regulatory requirements o LCR1 of 126%, down 700 bps Y/Y and down 500 bps Q/Q o HQLA2 of $262.4Bn, down $9.1Bn Y/Y and down $13.4Bn Q/Q • Stability of funding reflected in NSFR1 of 120%, up 300 bps Y/Y and flat Q/Q • De
Slide 51: Key Liquidity Metrics
Key Liquidity Metrics LIQUIDITY COVERAGE RATIO (LCR)1 HIGHLIGHTS 136% • LCR is well in excess of 100% regulatory requirement 133% 132% 133% 131% 131% 129% 128% • Selected LCRs: Chile – 139%, Mexico – 153%, Peru – 166%, 126% Colombia – 134% Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 HIGH Q
Slide 52: Strong Deposit Growth
Strong Deposit Growth AVERAGE DEPOSITS BY SEGMENT6 Q3/25 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM Notice - Term - Business 2 Business 3 711 732 725 9% 18% 706 682 Demand- 624 1 591 Personal 2% 367 371 379 377 340 308 294 $725Bn Notice - Demand - 2 Personal Business 1 125 130 132 130 130 21% 104 107
Slide 53: Funding Strategy
Funding Strategy DIVERSIFIED FUNDING SOURCES • Increase contribution from core customer deposits • Manage to prudent level of wholesale funding utilization and TLAC1 • Maintain balance between efficiency, stability of funding and pricing relative to peers • Diversify funding by type, currency, progr
Slide 54: Wholesale Funding
Wholesale Funding TERM FUNDING CONTRACTUAL MATURITY FUNDING PROGRAMS1 TABLE2 Global Registered Covered Bond Program CDE ($Bn) 49 (uninsured Canadian mortgages) Limit – CAD 100 billion 8 39 2 3 US Debt & Equity Shelf 34 2 (senior / subordinated debt, preferred and common shares) 2 Limit – USD 50 bill
Slide 55: Wholesale Funding Utilization
Wholesale Funding Utilization WHOLESALE FUNDING / TOTAL ASSETS HIGHLIGHTS • Wholesale funding utilization continues to be well managed 22.7% • Wholesale funding / total assets continue to trend lower 21.6% 22.8% 20.6% 19.9% 21.2% 21.8% 19.1% 19.1% 20.3% 19.3% 19.4% 18.8% Q4/22 Q4/23 Q4/24 Q3/22 Q1/2
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 BBB+ Baa3 (hyb) BBB (high) BBB- (NVCC) 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 2025 2026 Country 2022 2023 2024 Average Full Full Q1 Q2E2 Q3F Q4F Q1F Q2F Q3F Q4F Year Year Canada 1.6 4.2 1.5 1.6 2.3 1.7 1.4 1.1 1.6 1.0 1.2 1.4 1.5 1.3 U.S. 2.0 2.5 2.9 2.8 2.0 2.0 1.4 1.1 1.5 1.5 1.4 1.4 1.7 1.5 Mexico 1.4 3.7 3.4
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 Canada United States Mexico 2024 2025F 2026F 2024 2025F 2026F 2024 2025F 2026F Central Bank Rates 3.25 2.75 2.50 4.50 4.50 3.50 10.00 7.50 7.00 Unemployment Rate 6.4 6.9 6.8 4.0 4.4 4.7 2.7 3.0 3.3 Core Inflation Rate 3.6
Slide 60: Interest Rate Sensitivity and Outlook
Interest Rate Sensitivity and Outlook NET INTEREST INCOME SENSITIVITY1 POLICY RATE CHANGE AND OUTLOOK POLICY RATE CHANGE AND OUTLOOK Policy • Impact of an immediate and sustained 100 bps Rate Change by BNS Fiscal Quarters rate Current Forecast Policy Rate3 parallel shift on net interest income (NII)
Slide 61: Canadian Economic Overview
Canadian Economic Overview COMMENTARY REAL GDP GROWTH1 • Post-pandemic GDP growth in real terms has been subdued and is expected forecast 10.0 to remain so, as elevated economic uncertainty and trade volatility persists. Weak growth has been a theme among Canada’s G7 peers (aside from the % change y
Slide 62: Canadian Economic Overview
Canadian Economic Overview COMMENTARY PRODUCTIVITY1 • After peaking at Y/Y growth of over 3.2% in 2024, tightened 115 index, 2019=100 immigration policies via reduced permanent resident (“PR”) targets and 110 the introduction of temporary resident (“TR”) intake targets have slowed population growth
Slide 63: Canadian Economic Overview
Canadian Economic Overview TRADE POLICY UNCERTAINTY1 UNEMPLOYMENT AND EMPLOYMENT GROWTH2 16 66 % % 64 14 62 12 60 10 58 56 8 54 6 52 4 50 15 16 17 18 19 20 21 22 23 24 25 Unemployment Rate (LHS) Employment Rate (RHS) INTEREST RATES3 CONSUMER PRICE INDEX4 9.0 6.00 % change y/y %, end of period 8.0 5.
Slide 64: Canadian Housing Market
Canadian Housing Market COMMENTARY HOUSING PRICE INDEX1 • There were 249.4K housing starts in the last 12 months in Canada. This is an 450 70 above-average performance but largely below the 430K-480K unit range index, Jan-2005=100 (S.A.) units, 000s needed annually by 2035 to restore housing afforda
Slide 65: Mexican Economy
Mexican Economy HIGHLIGHTS MEXICAN Q2/25 GDP BY INDUSTRY1 • Uncertainty surrounding the Mexico–U.S. trade relationship, U.S. migration Health & Education policies, designation of Mexican drug cartels as Foreign Terrorist Finance, Insurance, & Organizations (FTOs), concerns over Mexico’s 2025 fiscal
Slide 66: Peruvian Economy
Peruvian Economy HIGHLIGHTS PERUVIAN Q2/25 GDP BY INDUSTRY1 • GDP grew 3.1% between January and May, led by the sustained recovery of sectors linked to domestic demand, such as Services and Commerce. Wholesale & Retail Furthermore, formal employment is growing thanks to the increase in jobs 10% in a
Slide 67: Chilean Economy
Chilean Economy HIGHLIGHTS CHILEAN Q2/25 GDP BY INDUSTRY1 • Chile’s diversified trading relationships are supported by 90 free-trade Natural Resource agreements that account for 88% of global GDP. No relevant direct impact Finance & Business 4% Wholesale & Retail Trade of tariff announcements on the
Slide 68: Colombian Economy
Colombian Economy HIGHLIGHTS COLOMBIAN Q2/25 GDP BY INDUSTRY1 • Economic activity reflects a robust behavior of households’ consumption in a context of positive income shocks and robust performance in the labour Arts & Entertainment market. Saving levels remain high. Low Investment-to-GDP remains ex
Slide 69: Appendix 2: Bail-in, TLAC, NVCC and LRCN
Appendix 2 Bail-in, TLAC, NVCC and LRCN
Slide 70: 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 71: Canadian Bail-in Regulations: Jurisdictional Comparison
Canadian Bail-in Regulations: Jurisdictional Comparison LIQUIDATION1 RESOLUTION OTHER JURISDICTIONS Opco non- Holdco Instrument type Opco senior Opco senior Holdco senior Holdco senior preferred senior2 senior Pari passu with deposits and other Structural Structural Structural Contractual Ranking St
Slide 72: Summary of Bail-in / TLAC Regime
Summary of Bail-in / TLAC Regime Scope OSFI designated DSIBs Scope of bail-in Senior unsecured debt that is tradeable and transferable, original term >400 days, unsecured and issued, instruments originated or amended after September 23, 2018 Liabilities excluded Insured deposits, uninsured deposits1
Slide 73: 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 74: LRCN Overview
LRCN Overview BNS LIMITED RECOURSE CAPITAL NOTES (“LRCN”) STRUCTURAL OVERVIEW 1 1 The Bank of Nova Scotia (Issuer) Proceeds • LRCNs issued directly by The Bank of Nova Scotia (“BNS”, “Scotiabank” Investors or the “Bank”) • Ongoing coupon payments are paid by BNS and derived from the Bank’s internal
Slide 75: 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 76: Appendix 3: Covered Bonds
Appendix 3 Covered Bonds
Slide 77: 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 $50 billion outstanding1 vs. CAD $100 billion program size2 • Extensive regulatory oversight and pool audit requirements • Mandatory property value indexati
Slide 78: Global Registered Covered Bond Program
Global Registered Covered Bond Program1 LOAN-TO-VALUE RATIOS2 CREDIT SCORES3 76% 35% 29% 25% 15% 6% 6% 7% 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 59.4% 38% 23% 22% Other4 2.8% $101Bn 11% S
Slide 79: 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 80: Appendix 4: Non-GAAP Measures
Appendix 4 Non-GAAP Measures
Slide 81: 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 82: Non-GAAP Measures
Non-GAAP Measures NON-GAAP DEFINITIONS (CONT’D) 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. Pages 94, Net interest margin (NIM) Net interest margin is calculated as core net interest income divide
Slide 83: Non-GAAP – Adjusted Results
Non-GAAP – Adjusted Results $MM (unless indicated otherwise) Q3/25 Q2/25 Q3/24 Reported Results Total revenue 9,486 9,080 8,364 Provision for credit losses 1,041 1,398 1,052 Non-interest expenses 5,089 5,110 4,949 Income tax expense 829 540 451 Net income 2,527 2,032 1,912 Net income attributable to
Slide 84: Non-GAAP – Reported and Adjusted EPS
Non-GAAP – Reported and Adjusted EPS $MM (unless indicated otherwise) Q3/25 Q2/25 Q3/24 Reported Results Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 2,313 1,841 1,756 Foreign currency loss on redemption of Subordinated Additional Tier 1 Capital Notes
Slide 85: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending July 31, 2025 Three months ending April 30, 2025 Global Global Global Global Canadian International Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Wealth Banking and Other Total Banking Banking Banking Bank
Slide 86: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending July 31, 2024 Global Global Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Banking Banking Management Markets Reported Results Total revenue 3,305 2,973 1,428 1,264 (606) 8,364 Provision for credit losses 4
Slide 87: Non-GAAP – Adjusted Results
Non-GAAP – Adjusted Results Footnotes 1. These costs relate to the amortization of intangible assets recognized upon the acquisition of businesses, excluding software. These costs are recorded in non- interest expenses - depreciation and amortization for the Canadian Banking, International Banking a
Slide 88: Non-GAAP – Other Segment Adjusted Earnings
Non-GAAP – Other Segment Adjusted Earnings $MM Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Reported NIAEH (465) (619) (1,341) (125) (71) Divestitures and wind-down of operations1 90 - 1,355 20 (29) Amortization of acquisition-related intangible assets2 - - - 9 7 Restructuring charge and severance provisions3 - 38
Slide 89: Non-GAAP – Business Line Return on Equity
Non-GAAP – Business Line Return on Equity International Global Wealth Global Banking Total Reported $MM (unless otherwise stated) Canadian Banking Other Total Banking Management and Markets (Adjusted) For the three months ended July 31, 2025 Net income attributable to common shareholders 958 670 417
Slide 90: Non-GAAP Reconciliations – Return on Equity
Non-GAAP Reconciliations – Return on Equity $MM (unless indicated otherwise) $MM (unless indicated otherwise) F23 F24 Return on equity F23 F24 Reported Results Canadian Banking Net income attributable to common shareholders 3,677 3,776 Total revenue 32,214 33,670 Total average common equity 18,846 2
Slide 91: Non-GAAP – Return on Tangible Common Equity
Non-GAAP – Return on Tangible Common Equity For the three months ended ($ millions) Q3/25 Q2/25 Q3/24 Reported Average common equity – Reported1 74,972 74,625 71,651 Average goodwill1,2 (9,827) (9,962) (9,052) Average acquisition-related intangibles (net of deferred tax)1 (3,571) (3,586) (3,622) Ave
Slide 92: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended $MM April 30, 2025 July 31, 2024 Foreign Constant Foreign Constant Taxable equivalent basis Reported exchange dollar Reported exchange dollar Net interest income 2,179 28 2,151 2,226 36 2,190 Non-inter
Slide 93: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended $MM January 31, 2025 October 31, 2024 Foreign Constant Foreign Constant Taxable equivalent basis Reported exchange dollar Reported exchange dollar Net interest income 2,169 (5) 2,174 2,147 (33) 2,180 N
Slide 94: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) All-Bank Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 1 Average total assets 1,422,740 1,418,795 1,460,615 1,468,310 1,445,858 Less: Non-earning assets 105,539 106,621 115,155 118,403 114,263 Average total earning assets1 1,31
Slide 95: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) International Banking Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Average total assets1 232,609 223,525 228,877 229,118 223,347 Less: Non-earning assets 15,326 14,973 14,883 13,917 13,442 Average total earning assets1 217,283
Slide 96: Non-GAAP – All Bank Loan to Deposit Ratio
Non-GAAP – All Bank Loan to Deposit Ratio $Bn (unless indicated otherwise) Q3/24 Q2/25 Q3/25 Avg Loans & Acceptances Loans 753 760 757 Acceptances 7 - - Total 761 760 757 Avg Deposits Deposits from customers 907 924 906 Deposits from banks 49 43 42 Total Deposits 956 968 949 Less: Group Treasury Who
Slide 97: Non-GAAP - International Banking
Non-GAAP - International Banking $Bn Reported Basis Reported Basis (Constant FX) International Business Banking Loans Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Investment Grade 33 32 31 30 29 33 32 31 30 29 Non-Investment Grade 56 54 55 54 53 56 55 54 53 53 $Bn Reported Basis Const
Slide 98: Non-GAAP - Mexico
Non-GAAP - Mexico $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q3/24 Q2/25 Q3/25 Q3/24 Q2/25 Q3/25 Revenue 781 760 767 735 775 767 Expenses 428 401 403 403 410 403 Provision for Credit Losses 107 145 139 100 148 139 NIAEH 188 155 169 178 156 169 $MM (unless otherwise
Slide 99: Non-GAAP - Chile
Non-GAAP - Chile $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q3/24 Q2/25 Q3/25 Q3/24 Q2/25 Q3/25 Revenue 597 651 613 587 634 613 Expenses 279 286 285 276 279 285 Provision for Credit Losses 144 168 179 142 162 179 NIAEH 132 172 131 129 167 131 $MM (unless otherwise s
Slide 100: Non-GAAP - Peru
Non-GAAP - Peru $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q3/24 Q2/25 Q3/25 Q3/24 Q2/25 Q3/25 Revenue 457 422 413 475 415 413 Expenses 196 194 186 202 192 186 Provision for Credit Losses 127 80 85 133 79 85 NIAEH 100 145 109 104 142 109 $MM (unless otherwise specif
Slide 101: Non-GAAP - Colombia
Non-GAAP - Colombia $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q3/24 Q2/25 Q3/25 Q3/24 Q2/25 Q3/25 Revenue 286 285 302 279 280 302 Expenses 192 178 179 187 175 179 Provision for Credit Losses 156 94 86 151 92 86 NIAEH (25) 5 14 (24) 5 14 $MM (unless otherwise specif
Slide 102: Non-GAAP - Caribbean
Non-GAAP - Caribbean $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q3/24 Q2/25 Q3/25 Q3/24 Q2/25 Q3/25 Revenue 536 543 567 535 525 567 Expenses 269 280 268 267 273 268 Provision for Credit Losses 26 31 36 26 31 36 NIAEH 162 144 164 163 136 164 $MM (unless otherwise spe
Slide 103: Non-GAAP – Central America
Non-GAAP – Central America $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q3/24 Q2/25 Q3/25 Q3/24 Q2/25 Q3/25 Revenue 112 106 112 114 102 112 Expenses 77 76 78 79 74 78 Provision for Credit Losses 8 15 18 8 14 18 NIAEH 20 10 9 20 9 9 $MM (unless otherwise specified) Rep
Slide 104: Non-GAAP – International Banking Return on Tangible Common Equity
Non-GAAP – International Banking Return on Tangible Common Equity Average Tangible Common Equity Attributed Capital Total Central Goodwill & Total International $MM Mexico Peru Chile Colombia Caribbean Other International America Intangibles Banking Banking Q3/25 3,935 2,092 4,358 841 1,898 736 1,16
Slide 105: Appendix 5: Other Financial Measures
Appendix 5 Other Financial Measures
Slide 106: 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 Allowance for Credit Losses (ACL) Ratio loans and acceptances. Assets administered by the Bank which are beneficially ow
Slide 107: Contact Information
Investor Relations Meny Grauman Rebecca Hoang Senior Vice President Vice President meny.grauman@scotiabank.com rebecca.hoang@scotiabank.com Contact Information Funding Martin Weeks Agnes Vara EVP and Group Treasurer Managing Director martin.weeks@scotiabank.com agnes.vara@scotiabank.com 107