Net income financial measures on a CER basis ($ Canadian millions, post-tax and based on actual foreign exchange rates in effect in the applicable reporting period, unless otherwise stated) QuarterlyResults Full YearResults 4Q22 3Q22 2Q22 1Q22 4Q21 2022 2021 Netincome(loss)attributedtoshareholders: Asia $ 569 $ 521 $ 361 $ 773 $ 645 $ 2,224 $ 3,057 Canada 320 578 85 547 616 1,530 1,354 U.S. 410 641 832 2,067 494 3,950 2,080 Global WAM 347 345 305 324 387 1,321 1,406 Corporate and Other 245 (738) (497) (741) (58) (1,731) (792) Totalnetincome(loss)attributedtoshareholders 1,891 1,347 1,086 2,970 2,084 7,294 7,105 Preferred share dividends and other equity distributions (97) (51) (60) (52) (71) (260) (215) Commonshareholdersnetincome(loss) $ 1,794 $ 1,296 $ 1,026 $ 2,918 $ 2,013 $ 7,034 $ 6,890 (1) CERadjustment Asia $ – $ 22$ 45$ 80$ 61 $ 147 $ 200 Canada – – – – – – – U.S. – 27 44 145 43 216 206 Global WAM – 91 0 11 19 30 62 Corporate and Other – (19) (17) (33) (3) (69) (8) Totalnetincome(loss)attributedtoshareholders – 39 82 203 120 324 460 Preferred share dividends and other equity distributions – – – – – – – Commonshareholdersnetincome(loss) $ – $ 39 $ 82 $ 203 $ 120 $ 324 $ 460 Netincome(loss)attributedtoshareholders,CERbasis Asia $ 569 $ 543 $ 406 $ 853 $ 706 $ 2,371 $ 3,257 Canada 320 578 85 547 616 1,530 1,354 U.S. 410 668 876 2,212 537 4,166 2,286 Global WAM 347 354 315 335 406 1,351 1,468 Corporate and Other 245 (757) (514) (774) (61) (1,800) (800) Totalnetincome(loss)attributedtoshareholders,CER basis 1,891 1,386 1,168 3,173 2,204 7,618 7,565 Preferred share dividends and other equity distributions, CER basis (97) (51) (60) (52) (71) (260) (215) Commonshareholdersnetincome(loss),CERbasis $ 1,794 $ 1,335 $ 1,108 $ 3,121 $ 2,133 $ 7,358 $ 7,350 Asianetincomeattributedtoshareholders,U.S.dollars (2) Asia net income (loss) attributed to shareholders, US$ $ 419 $ 399 $ 283 $ 610 $ 513 $ 1,711 $ 2,437 (1) CER adjustment, US$ – (1) 15 18 6 32 (42) Asianetincome(loss)attributedtoshareholders,US$, (1) CERbasis $ 419 $ 398 $ 298 $ 628 $ 519 $ 1,743 $ 2,395 Netincome(loss)attributedtoshareholders(pre-tax) Net income (loss) attributed to shareholders (post-tax) $ 1,891 $ 1,347 $ 1,086 $ 2,970 $ 2,084 $ 7,294 $ 7,105 Tax on net income attributed to shareholders 91 310 188 778 440 1,367 1,185 Netincome(loss)attributedtoshareholders(pre-tax) 1,982 1,657 1,274 3,748 2,524 8,661 8,290 (1) CER adjustment – 47 98 234 80 379 273 Netincome(loss)attributedtoshareholders(pre-tax), CERbasis $ 1,982 $ 1,704 $ 1,372 $ 3,982 $ 2,604 $ 9,040 $ 8,563 (1) The impact of updating foreign exchange rates to that which was used in 4Q22. (2) Asia net income attributed to shareholders (post-tax) in Canadian dollars is translated to U.S. dollars using the U.S. dollar Statement of Income rate for the reporting period. 116 | 2022AnnualReport | Management’sDiscussionandAnalysis