Investor Presentaiton

Scotiabank Average 1 day VaR, $ millions VaR by Risk Factor Risk Factor Q2/08 Q1/08 Q2/07 Interest rate 12.8 13.8 7.2 Equities 3.0 4.5 5.2 Foreign exchange 1.3 0.9 1.2 Commodities 3.6 2.7 1.5 Diversification (6.1) (5.3) (3.8) All-Bank VaR 14.6 16.6 11.3 Scotiabank # days 8 9 2 29 Trading Revenue Q2/08 Trading Revenue* ($ millions) (14) (13) (12) (11) (10) (9) (8) (7) (6) (5) (4) (3) (2) (1) 0 1 2 3 4 5 6 7 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 ■ 67% days had positive results in Q2/08 vs. 79% in Q1/08 * excludes amounts related to counterparty exposure write-downs 30

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