Scotiabank Risk and Credit Portfolio Overview

Scotiabank Credit Portfolios Well Positioned ■ Enhanced underwriting and execution standards ■ Lower single name hold limits, greater diversification ■ Better mix of assets - higher % of retail loans ■ Proactive management of portfolios improved pricing and returns through Loan Portfolio Management - portfolio management through loan sales, credit protection Much improved credit quality ➤ Corporate/commercial portfolio: 77% investment grade ต Scotiabank 31 Outlook Rick Waugh President & Chief Executive Officer 32

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