Investor Presentaiton

Gross Impaired Loan Formations ($ millions) Q4/09 Q3/09 Canadian P&C Retail 439 409 Commercial 74 91 513 500 International P&C Retail 254 276 Commercial 90 278 344 554 Scotia Capital Canada 75 U.S. & Europe 218 130 218 205 Total 1,075 1,259 Scotiabank Canadian Retail: higher formations in residential mortgages & credit cards Canadian Commercial: classification of several small accounts International Retail: higher formations in Caribbean; lower formations in Mexico, Peru & Chile International Commercial: lower formations across all geographies Scotia Capital: classification of a number of accounts in U.S. Trend in Gross Impaired Loans ($ millions) 5,000 4,000 3,000 2,000 1,000 III Q4/06 Q1/07 Q2/07 Q3/07 Scotiabank Gross Impaired Loans Q4/07 Q1/08 Q2/08 Q3/08 GILS as a % of Loans & BAS Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 1.60% 1.40% 1.20% 1.00% 0.80% 0.60% 0.40% 0.20% 0.00% 48 47

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