Investor Presentaiton

22 2013 Outlook Brian Porter President Scotiabank 2013 Outlook Canadian Banking Solid asset and deposit growth ■Growing footprint in automotive lending ■Margin remaining stable due to favorable changes in product mix, offset by competitive pricing ■Continued focus on deposits, payments and wealth management ■Commercial pipeline remains strong ■ING DIRECT transition progressing well; contribution in line with expectations ■Managing expenses remains a key priority Global Wealth Management Continue to benefit from business mix and geographic diversification ■Strong AUM/AUA base driving wealth management revenues ■Capitalizing on recent acquisitions ■Investing to drive high net worth market share Global Insurance outlook is good but moderating ■Solid growth in deposits in Global Transaction Banking Scotiabank International Banking ■Continue to leverage growth opportunities in high growth markets ■Expect high single to low double digit asset growth Good retail momentum in Latin America, but moderating ■Solid growth in commercial portfolio including strong deposits generation ■Margin pressure continues but expected to remain at current levels ■■Portfolios performing as expected and PCLs will increase in line with expectations ■Managing expenses in line with revenues is a priority Global Banking & Markets ■Continued good performance expected across our diversified business platform ■Economic uncertainty persists and will continue to impact client activity. This should be mitigated by our continued emphasis on diversification by business mix and focus on cross-sell to produce low volatility earnings growth ■Solid business pipeline should allow for continued good performance in the fourth quarter ■Moderate loan growth expected with stable margins. PCLs to remain modest

View entire presentation