2013 Outlook Presentation

Canadian Banking: Strong Quarter Net Income ($ millions) 1 461 Q2/12 574 Q1/13 547 Q2/13 (1) Attributable to equity holders of the Bank Scotiabank 11 12 • • Year-over-Year Revenues up 15% + Impact of ING acquisition + Strong organic asset growth + Investment gains PCLs up $16MM to $136MM Expenses up 13% - ING acquisition accounted for majority of increase - Higher marketing, pension and premises costs Quarter-over-Quarter Revenues down 1% - Lower NII due to shorter quarter - Lower card revenues + Investment gains + Full quarter impact of ING PCLs up $18MM to $136MM Expenses up 1% - Full quarter impact of ING + Shorter quarter International Banking: Good Quarter Net Income¹ ($ millions) 416 419 399 Q1/13 Q2/13 Q2/12 (1) Attributable to equity holders of the Bank Scotiabank . . Year-over-Year Revenues up 11% + Strong loan growth, particularly in LatAm + Securities gains + Higher contribution from Thailand + Foreign currency translation PCLs up $49MM to $194MM Expenses up 11% - Higher growth related expenses + Approximately half of increase due to acquisitions and foreign currency translation Quarter-over-Quarter Revenues up 5% + Loan growth and impact of acquisitions + Securities gains + Foreign currency translation - Shorter quarter PCLs up $8MM to $194MM Expenses up 5% - Foreign currency translation - Acquisition related expenses Tax benefit in Puerto Rico in Q1

View entire presentation