Investor Presentation Second Quarter 2007

Scotiabank Scotiabank 887 Overview Rick Waugh President & Chief Executive Officer Second consecutive quarter of record earnings Net Income* ($ millions) 928 1,028 1,012 Change Q2/07 Yr/Yr Qtr/Qtr Net income* $1,028 16% 2% 890 EPS $1.03 16% 2% ROE 23.4% 20 bp 40 bp Productivity ratio 53.8% -150 bp 20 bp Q2/06 Q3/06 Q4/06 Q1/07 Q2/07 * available to common shareholders 4

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