Investor Presentaiton

Scotiabank $ millions Positive trend in net impaired loans 1,522 388 International Banking ■Domestic Banking Scotia Capital 161 879 201 681 129 125 570 973 183 207 549 245 373 118 2003 2004 2005 2006 after specific allowance 43 Strong capital ratios - despite growth in risk-weighted assets Scotiabank % of risk-weighted assets $ billions 11.1 10.8 197.0 190.3 10.2 10.2 10.0 180.1 168.9 162.8 9.3 9.0 8.5 8.4 8.3 Q4/05 Q1/06 Q2/06 Q3/06 Q4/06 Tier 1 Tangible Common Equity (TCE) 44 Q4/05 Q1/06 Q2/06 Q3/06 Q4/06 Loans & Acceptances Residential Mortgages Securities Cash, Other Assets & Off Balance Sheet

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