Financial Review Q3/11

35 36 Global Wealth Management: Key Metrics Scotiabank ($ billions) Q3/10 Q4/10 Q1/11 Q2/11 Q3/11 1 Assets Under Administration 185 195 203 280 276 Assets Under Management¹ 50 54 56 107 105 Mutual Funds Market Share in Canada vs. Schedule 1 Banks2 9.2% 9.2% 9.3% 18.7% 18.7% (1) Prior periods restated to conform with current presentation (2) Excludes Scotiabank's investment in CI Financial. As of Q2/11, includes DundeeWealth. Source: IFIC Scotia Capital: Challenging Markets Scotiabank Revenues (TEB) ($ millions) 795 697 731 Year-over-Year Global Capital Markets + Higher trading revenues in precious metals, equities and foreign exchange - Lower trading revenues in fixed income Global Corp. and Investment Banking + Higher investment banking revenues + Higher credit fees 438 363 387 310 357 368 Q3/10 Q2/11 Q3/11 Global Capital Markets Global Corporate & Investment Banking • Quarter-over-Quarter Global Capital Markets + Higher trading revenues in precious metals, equities and foreign exchange - Lower fixed income trading revenues Global Corp. and Investment Banking + Higher net interest income + Higher credit fees - Lower investment banking revenues 18

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