Investor Presentaiton

Scotiabank ☐ Q4/08 Risk Overview Managing through challenging market conditions PCL: $207mm vs $159mm in Q3/08 Gross impaired loan formations: $615mm vs $629mm in Q3/08 Average one-day VaR: $20.1mm vs $15.8mm in Q3/08 Areas of current focus Bank-sponsored multi-seller conduits Automotive exposure - International retail portfolios Outlook 21 Provision for Credit Losses Scotiabank Specific provisions, $ millions Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Canadian Banking Retail Commercial 72 6 78 225 79 82 12 20 22 91 102 728 77 78 29 99 107 International Banking Retail 99 Commercial 56 64 69 81 105 (29) (34) (25) (15) 27 30 60 56 90 Scotia Capital (10) (10) (9) 4 10 95 111 153 159 207 22

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