Canadian and International Banking Update

Scotiabank Available-for-Sale Securities Portfolio Q1/09, $ billions Fair Value Unrealized Gains (Losses) 23.5 0.8 Government bonds Other Debt Auto-based securitization 6.9 (0.3) Financial industry bonds 6.5 (0.6) Corporate bonds 3.3 (0.3) CDOS/CLOS 0.9 (0.7) Total Other debt 17.6 (1.9) Equities Common Preferred Total Equities Total 2.5 (0.3) 0.4 (0.2) 2.9 (0.5) 44.0 (1.6)* * Excludes fair value of hedges of $(0.2)B Scotiabank 17 82% AAA 98% investment grade 88% investment grade Weighted Average: AA Risk Review Brian Porter Group Head, Risk & Treasury 18

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