Investor Presentaiton

Canadian Banking: Strong Quarter Net Income ($ millions) 1 590 547 520 اس Q3/12 Q2/13 Q3/13 (1) Attributable to equity holders of the Bank Scotiabank 11 12 • Year-over-Year Revenue up 11% + Excluding ING and gain on sale of leasing business in Q3/12, revenue up 6% + Strong organic asset and deposit growth PCLs down $10MM to $108MM Expenses up 13% - Excluding ING, expenses up 5% - Higher pension and volume related expenses Quarter-over-Quarter Revenue up 3% + Longer quarter + Solid asset growth PCLs down $28MM to $108MM Expenses up 3% - Longer quarter International Banking: Solid Quarter Net Income ($ millions) 1 494 419 392 Q3/12 Q2/13 Q3/13 (1) Attributable to equity holders of the Bank Scotiabank Year-over-Year Revenue up 18% + Excluding Thailand gain, revenue grew 7% + Solid loan growth, particularly in LatAm - Lower margin PCLs up $26MM to $194MM Expenses up 16% + Excluding noted non-recurring items, expenses up 9% - Impact of Credito Familiar acquisition + Remaining growth in line with inflation and business growth Quarter-over-Quarter Revenue up 8% - Excluding Thailand gain, revenue declined 2% - Lower gains on investment securities - Lower underlying contributions from associated corporations PCLs unchanged at $194MM Expenses up 6% + Underlying expenses down 1%

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