Investor Presentaiton

Scotiabank Scotiabank Overview Rick Waugh President & Chief Executive Officer 3 2008 - Overview ■ Challenging environment - Difficult market conditions and unprecedented volatility in global financial markets ■ Net income $3.1 billion, EPS - $3.05 - - Q4/08: $315 million, EPS - $0.28 - $642 million write-downs in Q4/08 ■ Core earnings remain solid 4

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