HAVE YOU

AT US LATELY?L OKED

Agenda

Opening Remarks Gladys CaronIntroduction Réjean Robitaille

Financial Highlightspresentation and Q & A Michel C. Lauzon

Real Estate & Commercial presentation and Q & A Paul Hurtubise

Break

Retail & SME Quebecpresentation and Q & A Luc Bernard

B2B Trust presentation and Q & A François Desjardins

Laurentian Bank Securities & Capital Markets presentation and Q & A Michel C. Trudeau

Closing Remarks Réjean Robitaille

Questions and Answers

Symbol: LB, TSX 2

Caution regarding forward - looking statements

In this document and in other documents filed with Canadian regulatory authorities or in other communications, Laurentian Bank of Canada (the “Bank”) may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation. Forward- looking statements include, but are not limited to, statements regarding the Bank's business plan and financial objectives. These statements typically use the conditional, as well as words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could, would or the negative of these terms or variations of them or similar terminology.

By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove to be inaccurate. Although the Bank believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct.

The Bank cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various material factors. Among other things, these factors include capital market activity, changes in government, monetary, fiscal and economic policies, changes in interest rates, inflation levels and general economic conditions, legislative and regulatory developments, competition, credit ratings, scarcity of human resources and technological environment. The Bank further cautions that the foregoing list of factors is not exhaustive. For more information on the risk, uncertainties and assumptions that would cause the Bank's actual results to differ from current expectations, please also refer to the Bank's public filings available at www.sedar.com.

The Bank does not undertake to update any forward-looking statements, whether oral or written, made by itself or on its behalf, except to the extent required by securities regulations.

NON-GAAP FINANCIAL MEASURESThe Bank uses both generally accepted accounting principles (“GAAP”) and certain non-GAAP measures to assess its performance. Non-GAAP measures do not have any standardized meaning and are unlikely to be comparable to any similar measures presented by other companies. The Bank believes that these non-GAAP financial measures provide investors and analysts with useful information soth at they can better understand financial results and analyze the Bank’s growth and profitability potential more effectively.

Symbol: LB, TSX 3

IT’S NOT THESAME BANK ANYMORE

Réjean

RobitaillePresident

and Chief

Executive

Officer

Established

Track

Record

A solid track record of:Improving profitability: EPS up 87% over the past 4 yearsGrowing balance sheet: Loans and BAs and deposits up 43% and 50% respectively over the past 4 yearsBeing more efficient: Efficiency ratio improved by 770 basis points over the past 4 years

Our strong performance has resulted in:DBRS upgrading our credit rating in 2008Standard & Poor's raising our credit rating in 2010, being the first bank in North America to be upgraded since the financial crisis

Symbol: LB, TSX 5

Milestones

in our

development

1846: Founded as Montreal City and District Savings Bank

1965: Allowed to offer services outside the city of Montreal

1981: Allowed to offer services outside of Quebec

1987: Became a chartered Bank and renamed Laurentian Bank of Canada

1993: Laurentian Bank Securities created

2000: Creation of B2B Trust

Symbol: LB, TSX 6

Milestones

in our

development

1990’s: An acquisition phase

Expanded the Quebec operation

Added several branches in Ontario and western Canada

Laid the foundation for B2B Trust

2000’s: A repositioning and consolidation phase

Refocused our operations

Reduced our credit risk

Restructured the Bank

Symbol: LB, TSX 7

Repositioning enhanced our focus

Focus on Geography

Quebec focus for Retail Financial Services, SME and Retail brokerage

National focus for Real Estate, B2B Trust and LBS

Focus on Clients

Young families

Small and mid-size businesses

Real estate developers

Independent financial advisors

Government & municipal entities, small cap companies

Symbol: LB, TSX 8

Impact of repositioning

& growth

Symbol: LB, TSX 9

Loan growth ($ millions)

Sustained loan & deposit

growth

Symbol: LB, TSX 10

Improving

profitability

& efficiency

Symbol: LB, TSX 11

RETAIL AND SME-QUEBECBranch networkAutomated Teller Machines Internet and Telebanking CentreMortgage brokersSME-QuebecPoint-of-saleloans

Diversified

activities

across

Canada

Over 1 million banking relationships

B2B TRUSTSecurities brokersLife insurance brokersMutualfundrepresentativesDeposit brokersMortgage brokers

REAL ESTATE & COMMERCIAL Real-estatefinancingCommercial financing

LAURENTIAN BANK SECURITIES AND CAPITAL MARKETSInstitutional brokerageRetail brokerage

Symbol: LB, TSX 12

Consequently

we

have achieved

Record profitability in 2010

Six consecutive years of increasing EPS – only Canadian bank to have accomplished this

Six consecutive years of growing loans and BAs

Five consecutive years of increasing deposits

A track record firmly established

Symbol: LB, TSX 13

Our three pillarsSupporting organic and sustainable growth

Symbol: LB, TSX 14

FOCUS

Focus exclusively on profitable markets in Quebec and in larger Canadian cities, where we hold comparative and distinctive advantages and can allocate the required investment to generate growth

AGILE GROWTH

Agile growth promoted through our culture of proximity and service and made possible by our light organizational structure, enabling us to be opportunistic

EXECUTION

Strictly adhere to excellence in execution, owing to our commitment to deliver strong results and facilitated by our proactive approach to our business plan and to risk management

NUMBERS SAY IT ALL

Michel C. LauzonChief Financial Officer

Revenue growth

Symbol: LB, TSX 16

$ Millions

$ millions 2006 2007 2008 2009 2010Average annual growth

2006-2010

Retail & SME Quebec 259* 284 299 306 324 6%

Real Estate & Commercial 59* 46* 57 68 85 11%

B2B Trust 74 81 87 91 114 14%

Total net interest income

357 390 405 424 496 10%

Net interest

income

growth

Increasing contribution from our 3 main growth engines

*Figures not restated to conform to current reporting

Symbol: LB, TSX 17

Other

income

growth

Growth in core & recurring revenues

*Credit insurance income, income from sales of mutual funds and card service revenues

Symbol: LB, TSX 18

$ millions2006-2010 Other Income: + 32%

$ millions 2006 2007 2008 2009 2010Average annual growth

2006-2010

Salaries and 

employee

benefits

214 229 236 250 276 7%

Premises

and 

technology

108 112 119 120 133 6%

Other

expenses

89 87 91 102 96 2%

Total 

non‐interest

expense

411 427 446 472 504 6%

Non‐interest

expenses

Supporting growth and development

Symbol: LB, TSX 19

Efficiency

ratio

Symbol: LB, TSX 20

Credit

quality

Evolution of gross and net impaired loans

Symbol: LB, TSX 21

$ Millions

% 2006 2007 2008 2009 2010

Residential

mortgages 0.01 0.02 0.01 0.02 0.04

Personal

loans

(excluding

POS & investment

loans)1.17 1.01 0.84 0.97 1.08

Point of sale (POS)

financing

loans0.72 0.87 1.19 1.92 2.14

Investment

loans 0.00 0.00 0.03 0.08 0.08

Commercial mortgages, loans & BAs 0.58 0.53 0.42 0.57 0.95

Total – Laurentian Bank 0.32 0.30 0.34 0.35 0.38

Industry 0.20 0.29 0.50 0.92 0.58

Loan

losses

by portfolio

Loan loss provision as a % of loans and BAs

Symbol: LB, TSX 22

Capital ratiosOctober 31, 2010

Symbol: LB, TSX 23

Impact of IFRS

Impact at transition Impact going forward

Securitization Gross-up of the balance sheet of approximately $2.7B Slight negative impact on retained earnings

Higher assets on balance sheetHigher net interest incomeLower net interest margins and other income

Employee benefits Potential reduction of retained earnings of $92.7M Decrease in pension costs

Loan provisioning and Business combinations

Potential impact should be limited

N/A

ROE N/A Higher

EPS N/A Neutral to slightly higher

Symbol: LB, TSX 24

Revenue growthfueled by continued healthy organic growth

and diversification of activities

Expensescontinued investments to support growth

Credit qualityprogressively improving

Capitalstrong foundation to support organic growth

Key TakeawaysOur foundation is strong and our operating model is simple

Symbol: LB, TSX 25

A NICHE APPROACH FOR A HIGH POTENTIAL MARKET

Paul HurtubiseSenior Vice-President Real Estate and Commercial

Delivered record new business activity and another year of record profitability in 2010

Increased net income by 43% to $49 million

Expanded real estate financing by 14% to $2.2B

Grew commercial loans and deposits in selected market segments

Real Estate

and Commercial –

Introduction

Symbol: LB, TSX 27

Two distinct markets…But one distinct goal… profitable growth

Real estate financing Commercial financing

Construction loans and fixed termloans for various real estateprojects:Office and commercial buildings,condominiums, residentialcomplexes

Operating credit facilities, depositsand transactional products for theoperational needs of companiesin sectors targeted by the Bank

Activities across CanadaActivities concentrated in Quebecand Ontario

8 offices:Toronto, Thornhill, Kitchener,Ottawa, Calgary, Vancouver,Montreal, Quebec City

6 offices:Toronto, Thornhill, Kitchener,Mississauga, Montreal andQuebec City

$1M to $30M loan per project(maximum exposure per group: $75M)

$1M to $25M loan maximum(maximum exposure per group: $75M)

Symbol: LB, TSX 28

Real Estate

and Commercial

Our focus is on performance

Symbol: LB, TSX 29

Target marketReal estate developers and investors requiring variable and fixed-termfinancing of $1M to $30MSolid and experienced clients with a low risk profileLarger real estate loans through syndication

PositioningWidely recognized leadership and expertise in real estate financingacross Canada

Competitive advantage and distinctive promiseLong standing credibilityTimely execution of loan offeringsLimited number of relationships per account manager

Real Estate

financing

–

Profile

Our credibility and our timely execution make the difference

Symbol: LB, TSX 30

Real Estate

financing

profile

Growth with disciplined and rigorous underwriting

Symbol: LB, TSX 31

Real estate financing($ millions, as at October 31)

Target marketGeographic focus on Quebec, the GTA and south-western OntarioCompanies with financing needs of up to $25 millionSyndication market for diversification

PositioningRecognized as a leading mid-market financial service provider with thehighest level of customer service

Competitive advantage and distinctive promiseProactive, creative and flexible to meet our clients’ evolving needsLimited number of accounts per account managerFlat organizational structureRapid turn-around time

Commercial financing

–

Profile

Symbol: LB, TSX 32

Commercial financing

–

Loan

growth

Building relationships builds business

Symbol: LB, TSX 33

Commercial loans and BAs($ millions, as at October 31)

Real Estate

and Commercial strategies

Increase market penetration with emphasis on real estate financing and Quebec and Ontario mid-market loans

Expand our banking role by increasing our deposit portfolio and foreign exchange activities

Increase syndication activities

Improve efficiency through investments in information technology

Symbol: LB, TSX 34

FOCUS

Focus concentrated in segments we understand very well

AGILE GROWTH

Growing and increasingly profitable business segment

EXECUTION

Solid team in knowledge and experience, leading to excellent execution

Real Estate

and Commercial

–

Key Takeaways

Symbol: LB, TSX 35

A STRONG FRANCHISE WITH ROOM TO GROW

Luc BernardExecutive Vice-President Retail and SME - Quebec

Symbol: LB, TSX 37

19% increase in net income in 2010, compared to 2009, on the basis of continuing operations

14% growth in residential mortgages in 2010

10% growth in SME lending in 2010, 45% over the last three years

48% of the Bank’s deposits

76% of the residential mortgages of the Bank

31% of the Bank’s profits

Retail

and SME Quebec

–

Introduction 

Retail

and SME – Profile

A strong franchise

Firmly rooted in Quebec

3rd largest network

Most admired bank brand in Quebec

A unique DNA

- Focus: Not being everything to everyone

- Discipline: Underwriting- Agility: Turnaround time- Proximity: To our clients- Execution: Customer oriented

2,600 Team members

Symbol: LB, TSX 38

Quebec

economy

A robust market, with strong economic fundamentals

Stronger job recovery than in Canada

Lower unemployment rate than in Ontario

Less chronic unemployment

More pent-up demand in housing

Symbol: LB, TSX 39

Retail

and SME – Progress 

Achievements of the last 5 years

Strong

organic

growth

capacity

‐

In‐branch

advisors

(+15%)‐

SME account

managers (+75%)‐

New mobile bankers

(+100)45% of mortgage

origination

‐

New virtual

advisors

(+55)

Modernized

branches and infrastructure‐

New and Distinctive Boutique concept‐

Openings

/ relocations in high

potential

suburban

sectors‐

Improved

in‐branch

experience‐

Expanded

ATM network (+30%)‐

Exclusive ATM’s

in the Montrealsubway

and transit systemSymbol: LB, TSX 40

Retail

and SME – Progress

Improved sales culture

- Streamlined processes: divert 30% of time on administrative tasks to sales and customer care initiatives

Increased penetration rate of credit insurance, Visa and mutual funds by +25%

Number of customers holding 5 products or more increased by +15%

Symbol: LB, TSX 41

Retail

–

Mutual

funds

growth

Our focus on distribution is

paying

off

Symbol: LB, TSX 42

Mutual Funds Net Sales

Retail

–

Spending

growth

on cards

Symbol: LB, TSX 43

Spending Growth – Premium Cards

Retail

–

Mortgage

loan

growth

Double-digit growth

Symbol: LB, TSX 44

Mortgage Loans Annual Growth

Retail

growth

Symbol: LB, TSX 45

Total Loans and Deposits

Mid-term Strategy

Maximize share of wallet and customer profitability

Target market

Retail: Young families and emphasis on 3 urban markets (Montreal, Quebec and Gatineau)

SME: selective niche approach

Retail

and SME – Strategies

Symbol: LB, TSX 46

Increase our organic growth capacity:

Capitalize on the competitive edge that constitutes our fully deployed integrated knowledge base infrastructure

Technology critical for:Cross-sellingTargeted marketing campainPricing based on profitability, credit risk and loyaltyProviding unique customer experience across the boardAnticipating customer needs and behaviours

Retail

and SME – Strategies

Symbol: LB, TSX 47

Customer Relationship Manager

Marketing Campaign Manager

Analytical tools

Data warehouse

Increase our organic growth capacity:

Continue to increase our mobile sales force and SME account managers

Acceleration of the niche strategy in the SME market

Expansion of Insurance operation and product line

Improve our operational efficiency:Operational excellence and streamlining of end-to-end processesSimplification and bundling of productsConvert administrative tasks into sales and customer care initiatives

Retail

and SME – Strategies

Symbol: LB, TSX 48

FOCUS

Well

positioned

to leverage

transformed

operational

model

AGILE GROWTH

Renewed

and strong

franchise with

room to grow

EXECUTION

Simple strategy

Time –

tested

lending

discipline

Retail

and SME – Key Takeaways

Symbol: LB, TSX 49

BANKING THAT WORKS FOR… THE BANK

François DesjardinsPresident & Chief Executive Officer B2B Trust

51% of the Bank’s deposits

67% in GICs, 33% in high interest accounts

26% of the Bank’s loans

99% secured with either residential real estate, mutual or segregated funds

11% of the Bank’s non-interest expenses

30% of the Bank’s net income

B2B Trust

–

Introduction

Symbol: LB, TSX 51

Doubled the loan book ($2.8B to $5.2B)

Almost doubled the deposit book ($5.1B to $9.2B)

Signed over 40 distribution agreements, now having 65

Increased to 16 sales territories to cover 100% of the Canadian landscape

Doubled the number of employees to 400

B2B Trust

–

Progress

Deliberate and steady

Symbol: LB, TSX 52

B2B Trust –

Mission

B2B Trust is a traditional banking product manufacturer

Specializing exclusively in distribution through independently- minded financial advisors either:

- to complement core products they offer to their clients, or

- as a stand-alone offer to their clients

Products tailored to the specific needs and sales cycle of financial advisors and brokers

Symbol: LB, TSX 53

B2B Trust –

Brand

Banking that

works for 

advisors

[ REALLY ]

[ INDEPENDENTLY‐MINDED ]

Symbol: LB, TSX 54

A recognized market leader solely dedicated to the financial community across Canada in 5 segments- Investment Advisors- Insurance Agents- Mutual Fund Advisors- Mortgage Brokers- Deposit Brokers

Offering a wide range of products in 5 categories- Investment and RSP loans- Mortgage loans- Banking accounts – HIIA and HISA- GIC deposits- Self-directed accounts

B2B Trust –

Distribution network

Symbol: LB, TSX 55

ProfilePremier third party supplier of investment and RSP lending products

in CanadaLeading supplier of wholesale deposit/GIC products, as well as high

interest accountsA growing player in the broker residential mortgage market

Competitive advantage and distinctive promiseThe only financial institution exclusively dedicated to independent

financial advisorsThe only one to provide products under a generic non-competing

brand nameRespectful of the relationship between a financial professional and

their end-clients, with the promise of never interfering in that relationship

B2B Trust – ProfileA distinctive positioning

Symbol: LB, TSX 56

Symbol: LB, TSX 57

Total Loans($ millions, as at October 31)

B2B Trust loan

portfolios

Rebuilding products one at a time

Secured personal loans

Granted to individuals in good financial standing

Lending decisions based on specific criteria confirming the borrower’s capacity to pay

Selected mutual funds and segregated funds comprise B2B Trust’s eligible list

Collateral registered in trust, as a supplementary guarantee

Regular monitoring through credit scoring of each client

B2B Trust investment

loans

Symbol: LB, TSX 58

B2B Trust –

Investment

loan

credit

quality

A healthy portfolio

Symbol: LB, TSX 59

B2B Trust deposit

portfolios

Symbol: LB, TSX 60

Deposits($ millions, as at October 31)

B2B Trust – Performance91% growth in net income

Symbol: LB, TSX 61

Operational Excellence

Distribution Maximization

Revenue Maximization

Business Foundations

B2B Trust  ‐

Strategies

Symbol: LB, TSX 62

B2B Trust – Key Takeaways

FOCUS

Focused and brand-consistent business strategies

AGILE GROWTH

Profitable business with a significant growth potential

Well diversified with low credit-risk activities

EXECUTION

Disciplined executive team with proven track record

Symbol: LB, TSX 63

THE BEST OF BOTH WORLDS

Michel C. TrudeauPresident and CEO Laurentian Bank Securities and Capital Markets

Solid platform in each business line

Selectively target our niches

Significant growth potential

Differentiate ourselves as a Bank-owned small cap investment dealer

Laurentian

Bank Securities &

Capital Markets

–

Introduction

Symbol: LB, TSX 65

Target marketInstitutional Fixed Income:

- Pan-Canadian coverage of government and corporate issuersInstitutional Equities:

- Research, sales, trading and corporate finance for small capitalization companies

Retail Brokerage: - Regional in Quebec through 14 offices

PositioningDominant brokerage firm amongst the mid-size tier across CanadaLargest research firm in QuebecMajor distributor of Agency products in the money market segment

Competitive advantage and distinctive promiseThe only Bank-owned dealer with a boutique mentality

Laurentian

Bank Securities &

Capital Markets

–

Profile

Symbol: LB, TSX 66

Mature operation, in business since 1996

Team of about 40 people operating in Montreal and Toronto

8th largest fixed income dealer in Canada in provincials

Dominant player in several products

Underwrite fixed income securities for provincial, municipal and corporate entities

Competitive market making and account coverage in Canadian fixed income securities

Institutional

–

Fixed

income

Adding value to investors and issuers

Symbol: LB, TSX 67

Youngest division of the group, in operation since 2006

Team of about 20 professionals, located in Montreal and Toronto

Analysts covering more than 50 companies in the following sectors:Mining – Technology – Transportation – Infrastructure – Healthcare – Consumer products – Special situations

Offers:- Equity capital markets and advisory services to small cap issuers- Research-driven approach to growth sectors- Dedicated sales and trading coverage of small cap market participants

Institutional

–

Equity

Only bank-owned dealer focusing exclusively on small cap niche

Symbol: LB, TSX 68

Began operations in 1998

85 retail advisors in 14 offices across Quebec, focusing in Montreal and Quebec City

Complete range of financial products and services

$2.3 billion of assets under administration

Retail

brokerage

Advisors more than doubled in 5 years

Symbol: LB, TSX 69

Laurentian

Bank Securities &

Capital Markets

Symbol: LB, TSX 70

*2006 and 2007 results exclude the Bank’s Capital Markets Operations

Laurentian

Bank Securities &

Capital Markets

‐

Strategies

Building for the future

Expand and increase our footprint in Fixed Income

Further develop our Institutional Equities presence

Continue to develop the retail sector

Symbol: LB, TSX 71

FOCUS

Focus facilitating continuous reinvestment in both young and moremature businesses

AGILE GROWTH

Agility to seize opportunities across all divisions

EXECUTION

Rigorous execution to achieve gradual and measured growth

Laurentian

Bank Securities &

Capital Markets

–

Key Takeaways

Symbol: LB, TSX 72

Réjean

RobitaillePresident

and Chief

Executive

Officer

Symbol: LB, TSX 74

Conclusion

Declared dividend history ($ per share)

For questions on this presentation, please contact:Gladys Caron, Vice-President, Public Affairs, Communications and Investor RelationsTel: 514 284-4500, extension 7511 - Cell: 514 893-3963gladys.caron@banquelaurentienne.ca