International Banking: Second Half 2010 Outlook

Limited Downside Risk to Loans from R-G Premier Bank Acquisition Gross Net Allowance ($ millions) Loans Allowance Loans Coverage Residential mortgages 3,352 711 2,641 21% Business loans 2,031 711 1,320 35% 5,383 1,422 3,961 26% Scotiabank 80% FDIC loss coverage under loss-sharing agreement Negligible Exposure to European Sovereigns (balances at Q2/10, US$ millions) Country Portugal Exposure Ireland 122 Italy Greece Spain 102 Scotiabank 19 20 20

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