Strategy in action

Canadian Banking: Residential Mortgage Portfolio ($ billions, as at April 30, 2012) $76 $6 Total Portfolio: $149 Insured Uninsured Average LTV of uninsured 56% 44% mortgages is 56%¹ $70 $23 $22 $3 -$2 $16 $12 -$1 $20 $20 -$1 $15 $11 Ontario B.C. Alberta Quebec Other Freehold $136B Condos - $13B Scotiabank 19 20 (1) LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Stats Can New Housing Price Index. • Canadian High-Rise Condo Development Exposure $610 million outstanding - Majority to established, well-known tier 1 developers with significant experience in building and selling high-rise condos Long-term relationships Strong covenants and underwriting standards . • Very high level of pre-sales High quality portfolio with virtually no losses in 15 years Scotiabank

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