Investor Presentaiton

International Banking: Challenging Economic Environment Revenues (TEB) ($ millions) 1,374 1,308 1,269 336 295 300 480 503 437 510 558 532 Q2/09 Q1/10 Mexico Q2/10 Mexico Q2/10 vs. Q2/09 Revenues + Loss on sale of credit card portfolio in Q2/09 - Decrease in Commercial loan volumes ■ Caribbean & Central America - Lower loan balances + Higher margins ■ Latin America & Asia + $36MM gain on sale of shares in Siam City Bank + Increased contribution from T-Bank ■ Mexico Q2/10 vs. Q1/10 Revenues - Lower Commercial credit fees - Gain from sale of pension business in Q1 ■ Caribbean & Central America - Margin compression + Increased insurance revenues ■ Latin America & Asia - Negative impact of FI Caribbean & Central America Latin America & Asia Scotiabank + $36MM gain on sale of shares in Siam City Bank + Loss on investment in Venezuelan affiliate in Q1 33 Scotia Capital: Strong Trading Revenues Revenues (TEB) ($ millions) 900 847 858 400 503 500 447 397 358 Q2/09 Q1/10 Q2/10 Global Capital Markets Global Corporate & Investment Banking Scotiabank Q2/10 vs. Q2/09 Revenues Global Capital Markets - + Higher derivatives & institutional equity revenues Lower fixed income & precious metals revenues Global Corporate & Investment Banking - Significantly lower loan volumes, lower fee income + Wider lending spreads, increased loan origination fees Q2/10 vs. Q1/10 Revenues Global Capital Markets + Strong quarter for institutional equity + Higher fixed income & FX revenues - Lower derivatives & precious metals revenues Global Corporate & Investment Banking - - Lower loan volumes & slightly reduced spreads Decreased other income + Higher loan origination fees 34

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