Scotiabank Investor Presentation

Public Debt Ratios in G7 Markets G7 General Government Gross Debt 300 % of GDP 250 200 150 100 50 0 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) Italy (BBB) U.S. (AA+) France (AA) Japan (A+) Sources: Scotiabank Economics, IMF, Standard & Poor's. 200 % of GDP 17550 100 50 0 G7 General Government Net Debt -Germany (AAA) UK (AA) 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) Italy (BBB) U.S. (AA+) France (AA) Japan (A+) Germany (AAA) UK (AA) Sources: Scotiabank Economics, IMF, Standard & Poor's. 63 63

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