Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — The Bank of Nova Scotia — Q4 2025 Earnings Presentation
77 slides from Bank Of Nova Scotia's earnings presentation, Dec 2, 2025
Slide 1: Investor Presentation
Investor Presentation December 2, 2025
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements From time to time, our public communications include oral or written forward-looking dispositions, including obtaining regulatory approvals; critical accounting estimates and the statements. Statements of this type are included in this document, and may b
Slide 3: Opening Remarks
Opening Remarks Scott Thomson President & CEO 3
Slide 4: Strategic Objectives
Strategic Objectives ALL BANK STRATEGIC OBJECTIVES FY23 Progress to FY28 FY23 Progress to FY28 Baseline date1 Objective Baseline date1 Objective Incremental capital in priority 100%+ ~90% Retail primary client growth1 420 K 2 MM+ businesses1 Personal & commercial deposits Closed referrals across 48%
Slide 5: Highlights: FY25 was a year of execution
Highlights: FY25 was a year of execution • FY25 Pre-Tax Pre-Provision1 earnings up 9% (adj1 up 15%) • Canadian Banking personal day-to-day deposits grew 6% o FY25 revenues up 12% in FY25 Grow and scale o FY25 operating leverage:2 negative 2.2%; adj1 positive 3.0% in priority businesses • US contribu
Slide 6: Fiscal 2025 and Q4/25 Overview
Fiscal 2025 and Q4/25 Overview Raj Viswanathan Group Head & CFO 6
Slide 7: Fiscal 2025 Financial Performance
Fiscal 2025 Financial Performance $MM, except EPS 2025 WY/WY Reported WHOLE YEAR HIGHLIGHTS Net Income 7,758 (2%) • Diluted EPS down 3%; adjusted1 up 10% Diluted EPS 5.67 (3%) o Strong PTPP1 growth, partly offset by higher PCLs and taxes Revenue 37,741 12% • Revenues up 12% Expenses 22,518 14% o Net
Slide 8: Q4 2025 Financial Performance
Q4 2025 Financial Performance $MM, except EPS Q4/25 Y/Y Q/Q Reported Y/Y HIGHLIGHTS Net Income 2,206 31% (13%) • Diluted EPS up 35%, adjusted1 up 23% Diluted EPS 1.65 35% (10%) o Strong PTPP1 growth, partly offset by higher PCLs Revenue 9,803 15% 3% • Revenues up 15% Expenses 5,828 10% 14% o Net int
Slide 9: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • The CET1 ratio of 13.2%, decreased by ~10 basis points Q/Q • Internal capital generation from adjusted earnings less dividends net of RWA growth (+9 bps) and higher unrealized FVOCI2 securities gains (+5 bps), • Offset by share repurchases of 7
Slide 10: Canadian Banking
Canadian Banking $MM Q4/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 1% Net Income1 941 1% (2%) o PTPP2 up 3%, mostly offset by higher PCLs Revenue 3,407 3% 1% • Revenue up 3% (up 1% Q/Q) Expenses 1,617 2% 1% o Non-interest revenue up 8% from private equity gains, higher mutual fund Pre-Tax, P
Slide 11: Global Wealth Management
Global Wealth Management $MM Q4/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 18% Net Income1 447 18% 7% o Canadian earnings up 16% Revenue 1,704 16% 6% o International earnings up 30% Expenses 1,095 15% 6% • Revenue up 16% Pre-Tax, Pre-Provision Profit2 609 18% 6% o Higher net interest income,
Slide 12: Global Banking and Markets
Global Banking and Markets $MM Q4/25 Y/Y Q/Q Y/Y HIGHLIGHTS Reported • Net Income up 50% Net Income1 519 50% 10% o US net income of $307 million, up 62% (up 55% Q/Q) Revenue 1,584 24% 3% • Revenue up 24% Expenses 900 11% 1% o Capital Markets up 43% Pre-Tax, Pre-Provision Profit2 684 47% 8% o Busines
Slide 13: International Banking
International Banking Constant dollar basis2 Y / Y H I G H L I G H T S ( C O N S T A N T D O L L A R 2) $MM Q4/25 Y/Y Q/Q Y/Y Q/Q Reported • Revenue up 3% Net Income1 634 6% (5%) 3% (7%) o Net interest income up 2% Revenue 3,051 7% 2% 3% - o Non-interest income up 7% Expenses 1,577 6% 4% 2% 2% • NIM
Slide 14: Other
Other REPORTED NET LOSS1 ($MM) HIGHLIGHTS • Reported net loss this quarter of $322 million (125) (71) • Adjusted2 net loss of $34 million, improved $22 million (322) Q/Q due to higher revenues and lower taxes, partly offset by higher expenses (619) (1,341) Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 ADJUSTED NET
Slide 15: Risk Review
Risk Review Phil Thomas Group Head & Chief Risk Officer 15
Slide 16: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS 98 bps • Total ACL ratio of 98 bps, up 2 bps Q/Q 95 bps 96 bps 88 bps 91 bps o Performing allowances were $5.3 billion, up $161 million Q/Q 7,386 7,654 (+$55 MM ex. F/X) 7,080 7,276 6,736 o Primarily due to business growth in In
Slide 17: Provision for Credit Losses
Provision for Credit Losses $MM Q/Q HIGHLIGHTS $MM Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 All-Bank • Total PCL ratio of 58 bps, up 3 bps Q/Q: Impaired 1,043 1,064 1,052 975 1,042 Performing (13) 98 346 66 71 o Performing provision (4 bps); due primarily to Total 1,030 1,162 1,398 1,041 1,113 International re
Slide 18: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 GIL FORMATIONS ($MM) 91 bps 90 bps 90 bps 93 bps 88 bps 2,529 2,383 2,447 2,483 40 26 7 2,285 17 17 97 109 109 178 157 25 7,244 91 6,739 7,064 6,849 6,890 92 71 71 83 86 158 43 58 1,055 1,106 1,042 1,063 156 108 2,248 1,050 2,208 2,24
Slide 19: Appendix
1 2 Appendix 3 4 5 19
Slide 20: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q4/24 Q3/25 Q4/25 Y/Y Capital Metrics CET1 Ratio1 13.1% 13.3% 13.2% 10 bps Tier 1 Capital Ratio1 15.0% 15.2% 15.3% 30 bps 1 Total Capital Ratio 16.7% 16.9% 17.1% 40 bps 2 TLAC Ratio 29.7% 29.0% 29.1% (60 bps) Leverage Ratio3 4.4% 4.5% 4.5
Slide 21: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin CORE NET INTEREST MARGIN (NIM)1 HIGHLIGHTS • Net interest income (NII) 1 bp 1 bp 1 bp 1 bp o Q/Q: up 2% from higher NIM1 and the positive impact of FX o Y/Y: up 13% from higher NIM1, loan growth and the positive impact of FX • NIM o Q/Q: up 4 bps, higher b
Slide 22: Risk Adjusted Margin and NIM
Risk Adjusted Margin and NIM RISK ADJUSTED MARGIN (RAM)1 NET INTEREST MARGIN (NIM)1 3.35% 3.39% 3.34% 4.50% 4.54% 4.54% 3.26% 4.42% 4.40% 3.18% 1.93% 1.93% 1.94% 1.84% 2.32% 2.36% 2.40% 2.31% 2.31% 1.72% 1.87% 1.89% 1.82% 2.23% 2.27% 2.29% 2.30% 1.72% 1.75% 1.58% 2.15% 1.70% 1.54% 1.91% 1.55% 1.58%
Slide 23: Interest Rate Sensitivity and Outlook
Interest Rate Sensitivity and Outlook NET INTEREST INCOME SENSITIVITY1 POLICY RATE CHANGE AND OUTLOOK3 POLICY RATE CHANGE AND OUTLOOK • Impact of an immediate and sustained 100 bps Policy Rate Change by BNS Fiscal Quarters Current Forecast Policy Rate parallel shift on net interest income (NII) over
Slide 24: KeyCorp Earnings Contribution
KeyCorp Earnings Contribution $MM (unless otherwise stated) Q4/254 Q3/25 Q2/25 Q1/25 Financial Statement Line 1 BNS share of KeyCorp Earnings 94 80 78 30 Income from Investments in Associate 2 Purchase Accounting Impact, pre-tax 23 23 24 10 Income from Investments in Associate Equity pick-up, pre-ta
Slide 25: All Bank: Impact of Closed Divestitures
All Bank: Impact of Closed Divestitures1 • On January 6, 2025, the Bank entered into an agreement with Davivienda to sell its banking operations in Colombia, Costa Rica and Panama in exchange for an approximately 20% ownership stake in the newly combined entity of Davivienda. The sale was completed
Slide 26: International Banking: Impact of Closed Divestitures
International Banking: Impact of Closed Divestitures1 • On January 6, 2025, the Bank entered into an agreement with Davivienda to sell its banking operations in Colombia, Costa Rica and Panama in exchange for an approximately 20% ownership stake in the newly combined entity of Davivienda. The sale w
Slide 27: 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 Q2 Q3E2 Q4F Q1F Q2F Q3F Q4F Year Year Canada 1.6 4.7 2.0 2.0 2.9 1.6 1.4 0.5 1.2 0.3 1.3 1.8 2.1 1.4 U.S. 2.0 2.5 2.9 2.8 2.0 2.1 2.0 1.6 1.9 2.3 1.5 1.1 1.5 1.6 Mexico 1.4 3.7 3.1
Slide 28: 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 ) • Enabled the VISA Debit Disputes experience within the mobile app, spee
Slide 29: Revenue Growth
Revenue Growth CANADIAN BANKING1 INTERNATIONAL BANKING1 in $MM in $MM Constant Dollar Basis2: +3% Y/Y +3% +7% 3,407 +4 % 3,319 3,371 3,003 3,051 +8% 2,859 112 103 Y/Y 881 893 99 +5 % 829 Y/Y 567 562 535 Y/Y +1% +7 % 2,490 2,490 2,514 Y/Y 2,225 2,324 2,386 Y/Y Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4/25 Reta
Slide 30: Non-Interest Expense
Non-Interest Expense NON-INTEREST EXPENSE HIGHLIGHTS $MM Q4/25 Y/Y Q/Q Y/Y Salaries and Benefits1 2,009 9% 4% • Reported expenses up $532 million (up 10%) Performance-based Compensation 726 24% 11% • Adjusted3 expenses up $524 million (up 11%) Share-based Compensation 77 15% (8%) o Higher personnel
Slide 31: Average Loans by Business Line
Average Loans by Business Line GLOBAL BANKING AND CANADIAN BANKING1 INTERNATIONAL BANKING1 MARKETS in $Bn in $Bn Constant Dollar Basis2: (2%) Y/Y in $Bn 2% 1% (8%) 454 461 464 166 165 168 95 94 94 9 9 10 74 86 82 82 75 74 101 8 9 94 93 8 19 20 21 275 284 287 53 55 56 Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4
Slide 32: Average Business Banking Loans
Average Business Banking Loans CANADIAN BANKING INTERNATIONAL BANKING GLOBAL BANKING AND COMMERCIAL3 COMMERCIAL & CORPORATE3 MARKETS in $Bn In $Bn in $Bn Constant Dollar Basis1: (7%) Y/Y (2%) (4%) (8%) 95 94 93 94 94 103 101 86 86 85 96 94 93 82 82 22 24 22 (9%) (3%) 22 20 Y/Y Y/Y 60 60 59 59 58 (1%
Slide 33: Deposit Growth
Deposit Growth AVERAGE DEPOSITS BY SEGMENT6 Q4 3/25 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM Notice - Term - Business 2 Business 3 730 725 736 9% 706 712 17% 682 Demand- 624 1 Personal 8% 378 377 375 340 367 379 308 Demand - $736Bn Business 1 130 130 134 Notice - 107 125 130 125 33% 2 Personal 15% 1
Slide 34: Macroeconomic Scenarios
Macroeconomic Scenarios SELECT MACROECONOMIC VARIABLES USED TO ESTIMATE EXPECTED CREDIT LOSSES Alternative Scenario – Alternative Scenario – Alternative Scenario – Next 12 Months Base Case Scenario Optimistic Pessimistic Very Pessimistic Q4/25 Q3/25 Q4/25 Q3/25 Q4/25 Q3/25 Q4/25 Q3/25 Canada Real GD
Slide 35: Macroeconomic Scenarios
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. CANADA REAL GDP U.S. REAL GDP 2.9 28.0 CAD, trillions (ch. $2017) USD, trillions (ch. $20
Slide 36: PCL on Impaired Loans
PCL on Impaired Loans1 ALL BANK ($MM, BPS) CANADIAN BANKING ($MM, BPS) 55 bps 55 bps 57 bps 54 bps 43 bps 44 bps 51 bps 41 bps 39 bps 41 bps 1,043 1,064 1,052 1,042 487 488 975 472 461 447 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 • All Bank impaired PCLs were up 3 bps Q/Q mainly i
Slide 37: Canadian Retail: Loans and Provisions
Canadian Retail: Loans and Provisions 1 MORTGAGES AUTO LOANS 15 179 6 6 153 158 5 4 4 143 135 3 3 106 113 119 2 1 1 4 141 144 150 4 3 2 111 114 106 104 -1 64 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 LINES OF CREDIT CREDIT CARDS 855 171 137 152 6
Slide 38: 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 $312 $106 Uninsured Outstanding Balance
Slide 39: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 82% ($257Bn) Freehold 173.2 26.4 63.8 146.8 20.5 32.4 Total 21.2 12.0 9.5 43.3 28.4 4.0 3.2 0.3 0.7 Portfolio1 11.7 8.8 Manitoba & $312Bn Ontario BC & Territories Alberta 18.0 Quebec Atlantic Provinces Saskatchewan 18%
Slide 40: International Retail: Loans and Provisions
International Retail: Loans and Provisions CARIBBEAN AND MEXICO CHILE CENTRAL AMERICA 231 224 204 227 151 175 211 188 188 187 139 149 MARKETS 204 175 136 185 201 162 124 122 137 WITH 155 128 129 188 GREATER 196 207 181 168 166 146 160 182 174 168 135 WEIGHTING 154 168 101 114 117 118 122 128 94 83 T
Slide 41: Retail 90+ Days Past Due Loans
Retail 90+ Days Past Due Loans1 Canada Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Mortgages 0.20% 0.19% 0.20% 0.23% 0.24% 0.24% 0.24% 0.28% Personal Loans 0.55% 0.50% 0.50% 0.51% 0.57% 0.51% 0.49% 0.51% Credit Cards 0.79% 0.79% 0.74% 0.86% 1.10% 1.13% 0.96% 1.16% Secured and 0.33% 0.31% 0.29% 0
Slide 42: 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 Q4 24 Q3 25 Q4 25 Total Portfolio: $60.0Bn • Portfolio at $60.0Bn represents 7.7% of the Bank’s total Y/Y
Slide 43: Trading Revenue and VaR
Trading Revenue and VaR1 NO TRADING LOSS DAY (Q4/25) 3-months ending October 31, 2025 Average Total VaR: (in millions) Q4/25: $10.1 MM Q3/25: $13.1 MM Q4/24: $10.9 MM 50 40 30 20 10 0 Aug 1, Sep 1, Oct 1, Oct 31, 2025 2025 2025 2025 (10) (20) Revenue Total VaR 1. Refer to Glossary from pages 74 to 7
Slide 44: International Banking: Mexico and Chile
International Banking: Mexico and Chile1 MEXICO CHILE $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q4/25 Y/Y Q/Q Y/Y Q/Q Q4/25 Y/Y Q/Q Y/Y Q/Q Revenue 826 14% 8% 8% 4% Revenue 642 9% 5% 11% 5% Expenses 437 14% 8% 8% 5% Expenses 278 1% (2%) 3% (2%) Provision for credit losses 141 2
Slide 45: International Banking: Peru and Colombia
International Banking: Peru and Colombia1 PERU COLOMBIA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q4/25 Y/Y Q/Q Y/Y Q/Q Q4/25 Y/Y Q/Q Y/Y Q/Q Revenue 394 (14%) (4%) (21%) (8%) Revenue 306 6% 2% (1%) (3%) Expenses 208 2% 12% (5%) 8% Expenses 187 1% 4% (6%) (1%) Provision for cre
Slide 46: International Banking: Caribbean and Central America
International Banking: Caribbean and Central America1 CARIBBEAN CENTRAL AMERICA $MM , Reported Constant Dollar2 $MM , Reported Constant Dollar2 Q4/25 Y/Y Q/Q Y/Y Q/Q Q4/25 Y/Y Q/Q Y/Y Q/Q Revenue 562 5% (1%) 4% (2%) Revenue 103 4% (7%) 2% (8%) Expenses 269 2% (1%) 1% 0% Expenses 78 8% 1% 5% 0% Provi
Slide 47: Impact of Foreign Currency Translation
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 48 to 73. Average Exchange Rate Q4/25 Q3/25 Q4
Slide 48: Non-GAAP Measures
1 2 Non-GAAP Measures 3 4 5 48
Slide 49: 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 50: Non-GAAP Measures
Non-GAAP Measures NON-GAAP DEFINITIONS (CONT’D) Non-earning assets are defined as cash, precious metals, derivative financial instruments, property and equipment, goodwill and intangible assets, deferred Pages 59, 60, Non-earning assets tax assets and other assets. This is a non-GAAP measure. 63, 64
Slide 51: Non-GAAP – Adjusted Results
Non-GAAP – Adjusted Results $MM (unless indicated otherwise) Q4/25 Q3/25 Q4/24 FY2025 FY2024 Reported Results Total revenue 9,803 9,486 8,526 37,741 33,670 Provision for credit losses 1,113 1,041 1,030 4,714 4,051 Non-interest expenses 5,828 5,089 5,296 22,518 19,695 Income tax expense 656 829 511 2
Slide 52: Non-GAAP – Reported and Adjusted EPS
Non-GAAP – Reported and Adjusted EPS $MM (unless indicated otherwise) Q4/25 Q3/25 Q4/24 FY2025 FY2024 Reported Results Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 2,104 2,313 1,521 7,283 7,286 Foreign currency loss on redemption of Subordinated Addit
Slide 53: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending October 31, 2025 Three months ending July 31, 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 Ba
Slide 54: Non-GAAP – Business Line Earnings
Non-GAAP – Business Line Earnings Three months ending October 31, 2024 Global Global Canadian International $MM (unless indicated otherwise) Wealth Banking and Other Total Banking Banking Management Markets Reported Results Total revenue 3,319 2,859 1,466 1,272 (390) 8,526 Provision for credit losse
Slide 55: 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. The costs are recorded in non-interest expenses - depreciation and amortization for the Canadian Banking, International Banking and
Slide 56: Non-GAAP – Other Segment Adjusted Earnings
Non-GAAP – Other Segment Adjusted Earnings $MM Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Reported NIAEH (619) (1,341) (125) (71) (322) Divestitures and wind-down of operations1 - 1,355 20 (29) 8 Restructuring charge and severance provisions2 38 - - - 270 Impact of adjusting items on NCI1, 2 - (191) 16 37 (53) L
Slide 57: Non-GAAP – Business Line Return on Equity
Non-GAAP – Business Line Return on Equity Canadian International Global Wealth Global Banking Total Reported $MM (unless otherwise stated) Other Total Banking Banking Management and Markets (Adjusted) For the three months ended October 31, 2025 Net income attributable to common shareholders 941 634
Slide 58: Non-GAAP – Return on Tangible Common Equity
Non-GAAP – Return on Tangible Common Equity For the three months ended For the year ended ($ millions) Q4/25 Q3/25 Q4/24 Oct 31, 2025 Oct 31, 2024 Reported Average common equity – Reported1 76,093 74,972 73,158 75,005 71,127 Average goodwill1,2 (9,917) (9,827) (8,984) (9,744) (9,056) Average acquisi
Slide 59: Non-GAAP – Excluding Divested Operations
Non-GAAP – Excluding Divested Operations All Bank International Banking Q1/25 Q2/25 Q3/25 Q4/25 FY2025 Q1/25 Q2/25 Q3/25 Q4/25 FY2025 Return on Equity Net income attributable to common shareholders 1,025 1,841 2,313 2,104 7,283 651 676 670 634 2,631 Less: Net income from divested operations 20 14 27
Slide 60: Non-GAAP – Excluding Divested Operations
Non-GAAP – Excluding Divested Operations All Bank International Banking Q1/25 Q2/25 Q3/25 Q4/25 FY2025 Q1/25 Q2/25 Q3/25 Q4/25 FY2025 PCL Ratio PCL on loans, acceptances and off-balance sheet exposures 1,162 1,398 1,041 1,113 4,713 602 550 562 595 2,309 Less: PCL on loans, acceptances and off-balanc
Slide 61: Non-GAAP – International Banking Constant Dollar Basis
Non-GAAP – International Banking Constant Dollar Basis Reported Results For the three months ended $MM July 31, 2025 October 31, 2024 Foreign Constant Foreign Constant Taxable equivalent basis Reported exchange dollar Reported exchange dollar Net interest income 2,245 (48) 2,293 2,147 (80) 2,227 Non
Slide 62: 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 January 31, 2025 Foreign Constant Foreign Constant Taxable equivalent basis Reported exchange dollar Reported exchange dollar Net interest income 2,179 (17) 2,196 2,169 (51) 2,220 No
Slide 63: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) All-Bank Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 FY2025 FY2024 1 Average total assets 1,418,795 1,460,615 1,468,310 1,445,858 1,486,529 1,465,278 1,419,284 Less: Non-earning assets 106,621 115,155 118,403 114,263 115,239
Slide 64: Non-GAAP - Net Interest Margin and Risk Adjusted Margin
Non-GAAP - Net Interest Margin and Risk Adjusted Margin $MM (unless specified otherwise) International Banking Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 FY2025 Average total assets1 223,525 228,877 229,118 223,347 226,015 226,820 Less: Non-earning assets 14,973 14,883 13,917 13,442 13,134 13,843 Average total e
Slide 65: Non-GAAP – All Bank Loan to Deposit Ratio
Non-GAAP – All Bank Loan to Deposit Ratio $Bn (unless indicated otherwise) Q4/24 Q3/25 Q4/25 FY24 FY25 Avg Loans & Acceptances Loans 755 757 764 750 762 Acceptances 1 - - 10 - Total 756 757 764 760 762 Avg Deposits Deposits from customers 899 906 925 903 919 Deposits from banks 46 42 40 49 43 Total
Slide 66: Non-GAAP - International Banking
Non-GAAP - International Banking $Bn Reported Basis Reported Basis (Constant FX) International Business Banking Loans Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Investment Grade 32 31 30 29 29 33 31 30 29 29 Non-Investment Grade 54 55 54 53 53 55 55 54 54 53 $Bn Reported Basis Const
Slide 67: Non-GAAP - Mexico
Non-GAAP - Mexico $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4/25 Revenue 725 767 826 765 795 826 Expenses 382 403 437 404 416 437 Provision for Credit Losses 109 139 141 115 144 141 NIAEH 178 169 181 187 176 181 $MM (unless otherwise
Slide 68: Non-GAAP - Chile
Non-GAAP - Chile $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4/25 Revenue 588 613 642 580 610 642 Expenses 274 285 278 271 284 278 Provision for Credit Losses 151 179 210 149 178 210 NIAEH 123 131 141 121 130 141 $MM (unless otherwise s
Slide 69: Non-GAAP - Peru
Non-GAAP - Peru $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4/25 Revenue 456 413 394 496 429 394 Expenses 205 186 208 220 192 208 Provision for Credit Losses 118 85 90 129 88 90 NIAEH 104 109 67 114 114 67 $MM (unless otherwise specifie
Slide 70: Non-GAAP - Colombia
Non-GAAP - Colombia $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4/25 Revenue 288 302 306 309 317 306 Expenses 185 179 187 198 188 187 Provision for Credit Losses 114 86 91 122 90 91 NIAEH (7) 14 8 (6) 14 8 $MM (unless otherwise specifie
Slide 71: Non-GAAP - Caribbean
Non-GAAP - Caribbean $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4/25 Revenue 535 567 562 539 573 562 Expenses 264 268 269 264 268 268 Provision for Credit Losses 30 36 29 31 35 29 NIAEH 165 164 165 169 169 165 $MM (unless otherwise spe
Slide 72: Non-GAAP – Central America
Non-GAAP – Central America $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX) Q4/24 Q3/25 Q4/25 Q4/24 Q3/25 Q4/25 Revenue 99 112 103 102 113 103 Expenses 72 78 78 75 79 78 Provision for Credit Losses 14 18 19 14 18 19 NIAEH 7 9 2 6 9 2 $MM (unless otherwise specified) Repor
Slide 73: 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 Q4/25 4,027 2,097 4,319 976 1,857 723 1,19
Slide 74: Glossary: Other Financial Measures
1 2 Glossary: Other Financial Measures 3 4 5 74
Slide 75: 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 76: Glossary – Strategic Objectives
Glossary – Strategic Objectives All Bank Incremental capital in priority Incremental capital deployed into priority businesses as identified at Investor Day (“Accelerate & Core Growth”) as a percentage businesses of total incremental capital deployed during the five-year FY24 to FY28 period. Persona
Slide 77: Investor Relations Contacts
Meny Grauman, Senior Vice-President meny.grauman@scotiabank.com Investor Rebecca Hoang, Vice President Relations rebecca.hoang@scotiabank.com Contacts 77
The Bank of Nova Scotia — Q4 2025 Earnings Presentation on 6ix