Financial Health and Performance Overview

Public Debt Ratios in G7 Markets G7 GOVERNMENT GROSS DEBT1 300 % of GDP 250 200 150 100 50 0 06 07 08 09 10 11 Canada (AAA) Japan (A+) 180 % of GDP 160 140 120 100 ༅ ༅ ¥ ཤྩ ཎྜ ྨ ¥ °° 80 60 1 Sources: Scotiabank Economics, IMF, Standard & Poor's; 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - France (AA) UK (AA) Germany (AAA) U.S. (AA+) G7 GOVERNMENT NET DEBT 1 Italy (BBB) 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Canada (AAA) Japan (A+) France (AA) UK (AA) Germany (AAA) U.S. (AA+) Italy (BBB) 64

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