Investor Presentaiton

Scotiabank 0.60% 0.50% 0.40% Strong Relative PCL Performance Specific Provisions as % of Average Loans and Acceptances 0.43% 0.44% 0.56% 0.32% 0.30% 0.26% 0.29% 0.24% 0.23% 0.20% 0.18% 0.14% 0.13% 0.10% 0.00% 2006 2007 Q1/08 Q2/08 Q3/08 Q4/08 BNS 4 Cdn. Bank Peers Scotiabank ($ millions) 23 Trend in Gross Formations 629 83 6 615 470 293 444 61 265 1 178 342 126 77 316 292 264 257 281 Q4/07 Q1/08 Q2/08 Q3/08 Cdn. Banking International Scotia Capital 24 Q4/08

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