Canadian and International Banking Performance

20 19 . Continued Decline in Specific Provisions Scotiabank ($ millions) Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Canadian Retail 149 145 138 134 123 Canadian Commercial 40 24 34 31 22 189 169 172 165 145 International Retail 125 118 129 International Commercial 48 20 173 138 128 22 110 116 (1) (3) (10) 107 106 Global Wealth Management 2 1 Scotia Capital (5) (7) (8) (3) 10 10 Total 357 300 294 269 262 PCL ratio (bps) Risk Outlook • Asset quality remains strong 55 55 43 41 Retail and Commercial portfolios performing well Continued strength in Corporate portfolios 38 38 88 38 Expect provisions for the remainder of the year to remain in-line with first half of 2011 Retail modestly lower Corporate and Commercial modestly higher Scotiabank 10

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