International Banking and Risk Review

Scotiabank Canadian and International Retail Portfolios • Portfolios performing as expected • • - Highly secured and well diversified - Delinquencies rising in some products as economies soften Actively managing risks - Canada: indirect auto and unsecured revolving credit - International: Chile and Peru acquisitions, Mexico retail Actions taken to mitigate risks - Selective policy changes and risk-based pricing - Targeted payment relief for certain customers - Investing in collections staff and technology Scotiabank 29 International Commercial Portfolio loans & acceptances Q2/09 $38 billion Peru Financial Services. Holding Companies 7% 10% Asia/Pacific (10 Other 7% countries) 27% 9% Communications & Media 6% Mexico 11% Chile 18% " Well secured " ■ Caribbean Central America 27% Automotive 3% Agrifoods and Consumer 15% Transportation 10% Real Estate 11% Hotels & Gaming 8% Industrial Products 5% Infrastructure, Privatization & Power 9% Other 17% Portfolios in Asia/Pacific, Chile & Peru performing well Closely monitoring portfolios in Mexico and Caribbean & Central America Hotel Gaming exposures Impact of swine flu epidemic in Mexico 30

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