Canadian and International Banking Update

Scotiabank ☐ Bank-Sponsored Multi-Seller Conduits (Q1/09, $ billions) Funded assets Weighted-average: rating (equivalent) life (years) Canadian Conduits 3.4 U.S. Conduit 7.3 AA- or higher 83% A or higher 1.1 1.3 Volumes down 12% vs. last quarter Assets mostly receivables Auto loans/leases: 45%; trade: 20%; credit cards/consumer: 7%; equipment loans: 10%; diversified ABS: 9% No direct CDO or CLO exposure 43 Scotiabank Trading Results Versus One-Day VaR ($ millions) 40 30 20 10 0 November 1, 2008 to January 31, 2009 - Actual P&L 1 day VaR мими ним (10) (20) (30) (40) Average one-day VaR: $21.7mm in Q1/09 vs $20.1mm in Q4/08 44

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