Bank Of Nova Scotia · TSX:BNS
Bank Of Nova Scotia — Scotiabank — Investor Presentation (May 2026)
96 slides from Bank Of Nova Scotia's investor presentation, May 2026
Slide 1: Investor Presentation May 2026
Investor Presentation May 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 14 Business Line Overview: International Banking 22 Business Line Overview: Global Wealth Management 31 Business Line Overview: Global Banking and Markets 36 Risk Overview 40 Treasury and Funding 51 Appendix 1: Economic
Slide 4: About Scotiabank
About Scotiabank Q2/26 HIGHLIGHTS Q2/26 EARNINGS1 BY MARKET Other Q2/26 Q2/25 14% Reported Adjusted2 Reported Adjusted2 Mexico Net Income1 ($Bn) 2.6 2.6 2.0 2.0 9% $2.6Bn Canada Diluted EPS ($) 2.00 2.02 1.48 1.52 Caribbean 58% 9% Revenue ($Bn) 9.8 9.8 9.1 9.1 U.S.A. 10% Return on Equity3 13.1% 13.2
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 Q2/26 EARNINGS BY GEOGRAPHY1 Business Lines $9.6Bn 86% of Earnings are in Other ($1.9Bn) North America Reported NIAEH1,2 $7.8Bn 58% Global Banking and Markets 20% Canadian Banking 36% FY2025
Slide 7: Business Lines (Q2/26 Results)
Business Lines (Q2/26 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 (avg) (in $Bn) 7% 3-yr Deposit 7% 3-yr Deposit CAGR Deposits (avg) CAGR 460 473 175 446 447 171 167 426 152 151 367 378 369 340 125 130 130 125 308 107 2022 2023 2024 2025 Q2/26 2022 2023 2024 2025 Q2/26 GLOBAL WEALTH MANAG
Slide 9: Q2 2026 Financial Performance
Q2 2026 Financial Performance Y/Y Y/Y HIGHLIGHTS (ex. $MM, except EPS Q2/26 Y/Y Q/Q Divestitures1,2) • Diluted EPS up 35%; adjusted2 up 33% Reported o Strong PTPP2 growth, and lower performing PCLs, partly offset Net Income 2,632 30% 14% 30% by higher taxes Diluted EPS 2.00 35% 16% • Revenue up 8%;
Slide 10: Strong Capital Position
Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%)1 • The CET1 ratio of 13.3%, unchanged Q/Q: • Strong internal capital generation offset by model parameter updates and share repurchases of 6.4 million shares during the quarter • Repurchased 22.1 million shares since Q3/25 8 bps 24 bps 13.3% (13 b
Slide 11: Strong Balance Sheet Metrics
Strong Balance Sheet Metrics $Bn (unless indicated otherwise) Q2/25 Q1/26 Q2/26 Y/Y 1 Capital Metrics CET1 Ratio 13.2% 13.3% 13.3% 10 bps Tier 1 Capital Ratio 15.4% 15.4% 15.4% 0 bps Total Capital Ratio 17.1% 17.0% 17.0% (10 bps) TLAC Ratio 30.3% 28.6% 28.6% (170 bps) Leverage Ratio 4.5% 4.4% 4.3% (
Slide 12: AI in Action Across the Bank
AI in Action Across the Bank Scotia Intelligence – the bank’s unified platform for turning Data & AI into enterprise decisions at scale… Elevate Client Experience Deliver Speed and Efficiency Enhance Risk Management • Customer facing teams providing • Mortgage document review and • Validation of cus
Slide 13: 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 ) • Driving simpler, end-to-end digital journeys while sustaining strong m
Slide 14: Business Line Overview: Canadian Banking
Business Line Canadian Banking Overview 14
Slide 15: 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 887 branches and 3,542 automa
Slide 16: Canadian Banking
Canadian Banking $MM Q2/26 Y/Y Q/Q BUSINESS MIX Q2/265 Reported Net Income1 935 53% (3%) Credit Cards Mortgages 2% 62% Revenue 3,483 8% (1%) Retail Personal Expenses 1,620 3% 0% 74% Loans Revenue 8% Average Pre-Tax, Pre-Provision Profit2 1,863 13% (2%) Business Mix Loans PCLs 575 (29%) (0%) Banking
Slide 17: Canadian Business Banking
Canadian Business Banking AVERAGE NON-PERSONAL DEPOSITS ($BN) AVERAGE BUSINESS LOANS ($BN) Small Business Small Business Commercial Commercial 135 140 135 121 114 93 94 95 87 75 2022 2023 2024 2025 Q2/26 2022 2023 2024 2025 Q2/26 COMMERCIAL BANKING SMALL BUSINESS BANKING • Strategic focus on underpe
Slide 18: 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 56% Spot Balance as of April 30, 2026 • Mortgage business model is “originate to hold” • New uninsured originations2 in Q2/26 had average L
Slide 19: Canadian Residential Mortgages
Canadian Residential Mortgages in $Bn (Spot)1 LOAN-TO-VALUE2 Insured Variable 23% 36% 59% 58% 58% 57% 57% $315 $315 56% 55% 54% 52% 52% Uninsured Fixed 77% 64% Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Total Variable Asset yields on variable rate mortgages reprice with each change to Scotiabank’s prime rate UNI
Slide 20: Canadian Residential Mortgages
Canadian Residential Mortgages MORTGAGE PORTFOLIO1 in $Bn (Spot) Freehold Condos 174.3 Freehold 27.1 82% 64.7 $315 147.2 21.3 32.2 22.2 4.0 3.3 12.3 0.3 9.3 0.7 43.4 28.2 8.6 Condo 18.9 12.0 18% Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba & Saskatchewan % of portfolio 55.3% 2
Slide 21: 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 0.5% year-over-year AVERAGE N
Slide 22: Business Line Overview: International Banking
Business Line International Banking Overview 22
Slide 23: 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 24: International Banking
International Banking Constant dollar CFX Ex. BUSINESS MIX AS AT Q2/265 basis2 divestitures2 $MM Q2/26 Y/Y Q/Q Y/Y Q/Q Y/Y Q/Q Mexico Credit Cards Business Chile Reported 31% 5% 48% 24% Net Income1 701 4% (2%) 1% (2%) 3% (2%) Auto 2% Revenue 2,859 (3%) (3%) (7%) (4%) 7% 1% Revenue Average Other Mix
Slide 25: International Retail & Commercial
International Retail & Commercial RETAIL BANKING COMMERCIAL BANKING • Supports the day-to-day financial needs of individual and small • Serve Commercial clients across International Banking, with a focus on business clients through an integrated service model that combines owner-led businesses in pr
Slide 26: GBM International Banking
GBM International Banking DELIVERING THE FULL BANK TO MEET OUR AMERICAS CLIENTS’ NEEDS INTERNATIONAL GBM KEY METRICS COMMENTARY Q2/25 Q1/26 Q2/26 • Sole full-service bank in key markets, with a distinctive competitive advantage along the North American corridor Revenue ($MM) 645 712 669 • Significan
Slide 27: International Banking: Mexico
International Banking: Mexico1 MEXICO $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q2/25 Q1/26 Q2/26 Y/Y Q/Q Q2/25 Q1/26 Q2/26 Y/Y Q/Q Revenue 760 882 900 18% 2% 830 896 900 8% 0% Expenses 401 448 462 15% 3% 440 456 462 5% 1% Provision for Credit Losses 145 153 147 2
Slide 28: International Banking: Chile
International Banking: Chile1 CHILE $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q2/25 Q1/26 Q2/26 Y/Y Q/Q Q2/25 Q1/26 Q2/26 Y/Y Q/Q Revenue 651 659 690 6% 5% 670 663 690 3% 4% Expenses 286 291 298 4% 3% 291 293 298 2% 2% Provision for Credit Losses 168 226 210 25% (
Slide 29: International Banking: Peru
International Banking: Peru1 PERU $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q2/25 Q1/26 Q2/26 Y/Y Q/Q Q2/25 Q1/26 Q2/26 Y/Y Q/Q Revenue 422 458 420 (1%) (8%) 433 447 420 (3%) (6%) Expenses 194 201 214 10% 7% 199 196 214 8% 9% Provision for Credit Losses 80 80 68 (
Slide 30: International Banking: Caribbean
International Banking: Caribbean1 CARIBBEAN $MM (unless otherwise specified) Reported Basis Reported Basis (Constant FX)2 Q2/25 Q1/26 Q2/26 Y/Y Q/Q Q2/25 Q1/26 Q2/26 Y/Y Q/Q Revenue 543 569 553 2% (3%) 525 571 553 5% (3%) Expenses 280 297 281 1% (5%) 273 297 281 3% (6%) Provision for Credit Losses 3
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 9 countries – administering over $800 b
Slide 33: Global Wealth Management
Global Wealth Management $MM Q2/26 Y/Y Q/Q REVENUE MIX AS AT Q2/26 Reported Net Income1 474 19% (2%) Revenue 1,760 14% (2%) Expenses 1,116 12% (3%) International Pre-Tax, Pre-Provision Profit2 644 18% (2%) 13% PCLs 4 100+% (10%) Productivity Ratio3 63.4% (130 bps) (20 bps) Revenue Spot AUM ($Bn)3 45
Slide 34: 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 35: Global Wealth Management: Market Leading Capabilities
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 eight Euromoney at the 2025 FundGrade A+ Awards with 20 awards acros
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 $MM Q2/26 Y/Y Q/Q BUSINESS MIX AS AT Q2/265 Reported Net Income1 457 11% (16%) Asia Business Revenue 1,592 9% (10%) 1% Canada Banking Expenses 965 10% (5%) 48% 42% Europe Pre-Tax, Pre-Provision Profit2 627 8% (17%) 7% PCLs 38 (5%) (36%) Revenue Global Revenue Net Interest
Slide 39: GBM in the U.S.
GBM in the U.S. DELIVERING THE FULL BANK TO MEET OUR AMERICAS CLIENTS’ NEEDS U.S. GBM KEY METRICS COMMENTARY Q2/25 Q1/26 Q2/26 • Corporate & Investment Banking, Capital Markets, Deposits, and Trade Finance Revenue ($MM) 635 800 709 • Ranked 10th largest Foreign Bank Organization2 (FBO) in the US NIA
Slide 40: Risk Overview
Risk Overview 40
Slide 41: Risk Snapshot (Q2/26)
Risk Snapshot (Q2/26) RWA BREAKDOWN1 CREDIT EXPOSURE BY COUNTRY BUSINESS & GOVERNMENT LOANS • Total loans $272Bn As at October 31, 2025 • As a percentage of total loans and acceptances: Canada Real estate and contractors 7.5% U.S. Credit Risk 2% 68% 3% Chile Financial services 4.5% 3% Operational Ri
Slide 42: Allowance for Credit Losses
Allowance for Credit Losses TOTAL ACLS1 ($MM) AND ACL RATIO2 HIGHLIGHTS • Total ACL ratio of 96 bps, up 2 bps Q/Q 95 bps 96 bps 98 bps 96 bps 94 bps o Performing allowances were $4.9 Bn, up $38 MM Q/Q (+$77 MM ex. F/X) primarily due to unfavourable macroeconomic outlook in 7,386 7,654 7,344 7,276 7,
Slide 43: Gross Impaired Loans and Net Write-offs
Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 GIL FORMATIONS ($MM) 99 bps 2 2,662 93 bps 95 bps 2,611 22 90 bps 90 bps 2,447 17 2,483 40 5 2,285 17 1 231 482 7,608 178 157 25 72 7,244 7,248 96 91 6,849 6,890 92 79 83 86 58 221 1,006 43 259 1,050 1,042 1,063 854 108 2,248 2,013 2,
Slide 44: Provision for Credit Losses
Provision for Credit Losses $MM Q/Q HIGHLIGHTS $MM Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 All-Bank • Total PCL ratio1 of 66 bps, up 5 bps Q/Q Impaired 1,052 975 1,042 1,103 1,129 Performing o All bank up 6 bps Q/Q ex. divestitures 346 66 71 73 88 Total 1,398 1,041 1,113 1,176 1,217 o Performing of 5 bps, up
Slide 45: Canadian Retail Portfolio
Canadian Retail Portfolio COMMENTARY PCLS BY PRODUCT • Total Canadian retail loans of $404 Bn MORTGAGES 15 o ~53% of total gross loans and acceptances 5 6 4 3 4 3 o ~94% of the portfolio is secured 2 • Portfolio 90+ day delinquency was 37 bps, down 2 bps Q/Q 3 4 4 2 3 o Credit Cards and Lines of Cre
Slide 46: International Banking Retail Portfolio
International Banking Retail Portfolio COMMENTARY PCLS BY COUNTRY • Total International retail loans of $79 Bn MEXICO o ~10% of total gross loans and acceptances 231 211 208 185 201 204 206 o ~77% of the portfolio is secured 129 • Portfolio 90+ day delinquency was 3.25%, down 6 bps Q/Q 196 207 181 1
Slide 47: Business & Government Portfolio
Business & Government Portfolio COMMENTARY GROSS IMPAIRED LOANS AND PCL RATIO1 • Total Business and Government loans of $272 Bn 59 o ~36% of total gross loans and acceptances 47 42 36 37 o Well-diversified by industry and geography 3,729 o 48% Canadian and 52% Non-Canada 3,210 3,183 3,270 3,230 • 52
Slide 48: Non-Bank Financial Institution (NBFI)
Non-Bank Financial Institution (NBFI) DISCIPLINED FRAMEWORK ENSURES ROBUST MANAGEMENT OF NBFI EXPOSURES Overall, a well diversified portfolio, with detailed due diligence, strong controls and continuous monitoring in place Wholesale and NBFI Composition retail Real estate 4% Credit cards 8% 2% Other
Slide 49: 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 Q2/25 Q1/26 Q2/26 Total Portfolio: $57.7Bn • ~7.5% of the Bank’s total loans Y/Y: (7%) • Geographically d
Slide 50: Sustainability Highlights
Sustainability Highlights CUMULATIVE PERFORMANCE TO GOALS as at October 31, 2025 ENVIRONMENTAL ACTION Total of $212 billion provided in climate-related financeto a goal of $350 billion by 20301 . ECONOMIC INCLUSION Total of $212 million in community investment through ScotiaRISE to a goal of $500 mi
Slide 51: Treasury and Funding
Treasury and Funding 51
Slide 52: Key Liquidity Metrics
Key Liquidity Metrics LIQUIDITY COVERAGE RATIO (LCR)1 HIGHLIGHTS • Strong liquidity well in excess of regulatory requirements 129% 133% 131% 128% 131% 126% 128% 124% 122% • LCR1 of 124%; stable, up 200bps Q/Q • Selected LCRs: Chile – 137%, Mexico – 133%, Peru – 141% Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/
Slide 53: Deposits
Deposits AVERAGE DEPOSITS BY SEGMENT6 Q2/26 AVERAGE DEPOSIT MIX in $Bn CB IB GBM GWM Notice - Term - Business 2 Business 3 730 732 733 723 10% 17% 706 Demand- 682 Personal 1 5% 378 379 372 369 340 367 Demand - $723 Bn Business 1 Notice - 125 130 130 126 125 Personal 2 130 33% 18% 182 172 176 178 182
Slide 54: Funding Strategy
Funding Strategy DIVERSIFIED FUNDING SOURCES • Increase contribution from core customer deposits • Manage to prudent level of wholesale funding utilization and TLAC1 • Maintain balance between efficiency and stability of funding while supporting the Bank’s strategy • Diversify funding by type, curre
Slide 55: Wholesale Funding
Wholesale Funding FUNDING PROGRAMS1 TERM FUNDING CONTRACTUAL MATURITY TABLE2 Global Registered Covered Bond Program CDE ($Bn) 58 (uninsured Canadian mortgages) Limit – CAD 100 billion 8 US Debt & Equity Shelf 43 4 (senior / subordinated debt, preferred and common shares) 5 2 Limit – USD 50 billion E
Slide 56: Wholesale Funding Utilization
Wholesale Funding Utilization WHOLESALE FUNDING / TOTAL ASSETS HIGHLIGHTS • Wholesale funding utilization continues to be prudently managed in line with broader funding strategy 21.8% • Wholesale funding of $298 Bn, up $18.8 Bn Q/Q (+$14.9 Bn money market funding1 and +$3.9 Bn term funding) and up $
Slide 57: TLAC and Leverage Ratio
TLAC and Leverage Ratio TLAC RATIO1 • 28.6% TLAC1 is above 25.08% regulatory minimum3, flat Q/Q and down 170 bps Y/Y 25.08% 30.3% 28.6% 28.6% Other 10.0% TLAC4 13.2% 11.6% 11.6% Other TLAC4 2.0% Tier 2 1.5% Additional Tier 1 1.7% 1.6% 1.6% T21 0.08% Countercyclical Buffer 2.2% 2.1% 2.1% AT11 3.5% Do
Slide 58: Scotiabank Credit Ratings
Scotiabank Credit Ratings Fitch Ratings Moody’s Morningstar DBRS Standard & Poor's Issuer Rating1 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 Capi
Slide 59: Appendix: Economics
Appendix 1 Economics
Slide 60: GDP in Core Markets
GDP in Core Markets REAL GDP (ANNUAL % CHANGE) Forecast1 2010-20 2026 2027 Country 2023 2024 2025 Average Q1E2 Q2F Q3F Q4F Full Year Q1F Q2F Q3F Q4F Full Year Canada 1.6 2.0 2.0 1.7 0.5 1.2 1.3 1.9 1.3 2.0 2.1 1.9 2.0 2.0 U.S. 2.0 2.9 2.8 2.1 2.7 1.9 1.2 1.5 1.9 1.6 2.0 2.3 2.5 2.1 Mexico 1.4 3.1 1.
Slide 61: 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 2025 2026F 2027F 2025 2026F 2027F 2025 2026F 2027F Central Bank Rates 2.25 3.00 3.00 3.75 3.50 3.25 7.00 6.50 6.75 Unemployment Rate 6.9 6.5 6.0 4.3 4.4 4.2 2.6 3.2 3.6 Core Inflation Rate 2.9 2
Slide 62: 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 Rate Change by BNS Fiscal Quarters (bps) Current Forecast Policy Rate C
Slide 63: Canadian Economic Overview
Canadian Economic Overview COMMENTARY REAL GDP GROWTH1 • Expectations for economic growth in Canada and its G7 peers remain very modest for 2026, with the risk of further weakening as the economic fallout 15.0 % change y/y forecast from the ongoing conflict in the Middle East unfolds and trade uncer
Slide 64: Canadian Economic Overview
Canadian Economic Overview COMMENTARY PRODUCTIVITY1 • After peaking in April 2024, Canadian population growth has slowed and even 115 reversed due to sustained tightened immigration policies index, 2019=100 • Annual Permanent Resident admissions will be maintained at 380,000 each 110 year for the ne
Slide 65: 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 66: Canadian Housing Market
Canadian Housing Market COMMENTARY HOUSING PRICE INDEX1 • There were 262.8K housing starts between May 2025-April 2026 in Canada. 450 70 Although national housing starts over a 12-month rolling average has been index, Jan-2005=100 (S.A.) units, 000s trending upwards through 2025 and early 2026, star
Slide 67: Mexican Economy
Mexican Economy COMMENTARY MEXICAN Q1/26 GDP BY INDUSTRY1 • GDP growth disappointed in Q1-2026, expanding just 0.2% y/y, signaling very weak momentum early in the year Health & Education Finance, Insurance, & Real 6% • The slowdown was broad-based, as primary and industrial activities contracted, Wh
Slide 68: Peruvian Economy
Peruvian Economy COMMENTARY PERUVIAN Q1/26 GDP BY INDUSTRY1 • Both Keiko Fujimori and Together for Peru leader Roberto Sánchez have advanced to the second round of elections scheduled for June 7 Min, O&G Wholesale & Retail • GDP grew 3.5% in the first quarter of the year. Despite recent slowdowns in
Slide 69: Chilean Economy
Chilean Economy COMMENTARY CHILEAN Q1/26 GDP BY INDUSTRY1 • GDP growth of 2.0% is expected in 2026, supported by strong mining and energy investment, while FDI inflows remain solid Natural Resource • The government submitted its Bill for National Reconstruction and Economic Finance & Business 4% and
Slide 70: Appendix: Bail-in, TLAC, NVCC and LRCN
Appendix 2 Bail-in, TLAC, NVCC and LRCN
Slide 71: 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 72: 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 73: 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 74: 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 75: 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 76: 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 77: Appendix: Covered Bonds
Appendix 3 Covered Bonds
Slide 78: 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 $55 billion outstanding1 vs. CAD $100 billion program size2 • Extensive regulatory oversight and pool audit requirements • Mandatory property value indexati
Slide 79: Global Registered Covered Bond Program
Global Registered Covered Bond Program1 LOAN-TO-VALUE RATIOS2 CREDIT SCORES3 78% 32% 28% 23% 11% 5% 12% 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 59.6% 33% 32% Other 2.8% 13% 12% Saskatch
Slide 80: 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 81: 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 82: 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 83: Appendix: Non-GAAP Measures
Appendix 4 Non-GAAP Measures
Slide 84: 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 85: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three months ending April 30, 2026 January 31, 2026 April 30, 2025 $MM (unless indicated otherwise) Other All Bank Other All Bank Other All Bank Reported Results Total revenue 143 9,837 (398) 9,646 (113) 9,080 Provision for credit losses 1 1,217 - 1,176 1 1,398 Non-interest
Slide 86: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($MM, unless otherwise specified) Q2/25 Q1/26 Q2/26 Calculation of Reported and Adjusted Earnings per Share Reported Results Net Income Attributable to Common Shareholders Net Income attributable to common shareholders 1,841 2,155 2,468 Dilutive impact of share-based payment
Slide 87: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($MM) Q2/25 Q1/26 Q2/26 Return on Equity and Return on Tangible Common Equity – Reported Average common equity – Reported1 74,625 77,288 77,436 Average goodwill1,2 (9,962) (9,984) (9,959) Average acquisition-related intangibles (net of deferred tax)1 (3,586) (3,545) (3,532)
Slide 88: Non-GAAP Reconciliations
Non-GAAP Reconciliations All Bank International Banking Q2/25 Q1/26 Q2/26 Q2/25 Q1/26 Q2/26 Net Interest Margin Average core earning assets1 957,641 939,927 939,261 197,107 188,010 179,732 Less: Average core earning assets from divested operations 20,059 6,960 - 19,793 6,850 - Average core earning a
Slide 89: Non-GAAP Reconciliations
Non-GAAP Reconciliations All Bank Q2/25 Q1/26 Q2/26 Reported to Adjusted Results – All Bank ex. divestitures Net interest income 5,270 5,582 5,521 Non-interest income 3,810 4,064 4,316 Total revenue 9,080 9,646 9,837 Provision for credit losses 1,398 1,176 1,217 Non-interest expenses 5,110 5,299 5,1
Slide 90: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM For the three months ended January 31, 2026 April 30, 2025 Foreign Constant Foreign Constant Reported Reported Exchange Dollar Exchange Dollar International Banking – Constant Dollar Reported Net interest income 2,146 (7) 2,153 2,179 (83) 2,262 Non-interest income 815 -
Slide 91: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM (unless specified otherwise) Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Net Interest Margin and Risk Adjusted Margin - All Bank Average total assets1 1,468,310 1,445,858 1,486,529 1,497,957 1,517,380 Less: Non-earning assets 118,403 114,263 115,239 120,352 123,695 1 Average total ear
Slide 92: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM (unless specified otherwise) Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Net Interest Margin and Risk Adjusted Margin - International Banking Average total assets1 229,118 223,347 226,015 219,139 210,553 Less: Non-earning assets 13,917 13,442 13,134 13,644 13,746 Average total earning
Slide 93: Non-GAAP Reconciliations
Non-GAAP Reconciliations $MM (unless otherwise specified) Mexico Chile Peru Caribbean Q2/25 Q1/26 Q2/26 Q2/25 Q1/26 Q2/26 Q2/25 Q1/26 Q2/26 Q2/25 Q1/26 Q2/26 Net Interest Margin and Risk Adjusted Margin Average total assets2 62,622 68,194 66,691 66,761 66,263 66,996 30,555 32,117 31,399 27,582 27,13
Slide 94: 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 Q2/26 3,947 2,212 4,658 2,124 2,111 15,052 2,935 17,987 Q1/26 4,088 2,204 4,501 1,986
Slide 95: 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 96: 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