Investor Presentaiton

Scotiabank Risk Overview ■ Stable credit quality ■ Update on areas of current focus ◉ ■ U.S. exposure manageable and well contained ■ Some increase in market risk 29 Scotiabank Increase in Credit Losses Quarter over Quarter Specific Provision for Credit Losses ($ millions) 111 95 92 30 45 63 27 25 5 19 30 30 74 77 78 1182 66 (30) 50 (51) 97 91 (10) (10) (10) Q1/07 Q2/07 Scotia Capital Q3/07 Q4/07 Domestic Q1/08 International 30

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