Investor Presentation Q4 2005

Scotiabank Domestic Banking - 2006 key priorities ■ Grow existing customer base and acquire new customers - increase share of wallet and improve cross-sell - focus on emerging affluent investor segment new branches and new branch formats - targeted marketing initiatives and additional financial advisors ■ Focus on Wealth Management Restructure Commercial Banking Expand scale and increase revenues via strategic alliances and acquisitions 37 Scotiabank International Banking - 2006 key priorities ■ Pursue revenue growth opportunities - sales and service - expand sales and delivery network, product offerings ■ Continue to seek acquisitions in key markets - Caribbean, Central America, Latin America and Asia ■ Lower processing costs, take advantage of economies of scale - refine International Shared Services initiative 38

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