Earnings Performance Review Q3/05

Continuing positive trend in impaired loans Scotiabank $ millions 3,015 1,198 Q3/04 after specific allowance Gross Impaired Loans Net Impaired Loans* 2,200 2,028 1,882 1,763 879 762 666 573 Q4/04 Q1/05 Q2/05 Q3/05 29 Lower specific provisions year over year Scotiabank $ millions Domestic: Q3/05 Q2/05 Q3/04 63 66 70 24 21 26 2 International: Scotia Capital: - Canada - U.S. 1 - Europe E-22 (1) (11) (55) 20 (2) 19 (57) 28 Other Total (1) 85 35 100 30

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