Investor Presentaiton

• Scotiabank Risk Review Brian Porter Group Head, Risk & Treasury Q3 2010 Risk Overview Risk in credit portfolios continues to be well-managed Significant decline in specific provisions - Reversed remaining $24 million of auto sectoral provision set up in Q2/09 - General downward trend in net impaired loan formations Strong coverage ratios Market risk well controlled - Greater variability in trading revenues from higher volatility in credit markets Scotiabank 16

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