Investor Presentaiton

Scotiabank Strong Capital 11.7% Total Capital 10.2% 9.6% Tier 1 9.0% TCE 7.2% 7.5% Scotiabank Q1/08 Q2/08 Strong internal capital generated $0.8 billion year-to-date Capital raised year-to-date: • $ 0.6 billion preferred shares ⚫ $2.2 billion subordinated debentures Higher capital ratios: + internal capital generation + impact of Basel II + capital issuances 11 Domestic Banking Chris Hodgson Executive Vice-President Domestic Personal Banking 12

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