Financial Performance Update
Scotiabank
This document includes forward-looking statements which are made pursuant to the "safe harbour" provisions
of the United States Private Securities Litigation Reform Act of 1995. These statements include comments with
respect to our objectives, strategies, expected financial results (including those in the area of risk management),
and our outlook for our businesses and for the Canadian, U.S. and global economies. Forward-looking
statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intent,"
"estimate," "may increase," "may fluctuate," and similar expressions of future or conditional verbs such as
"will," "should," "would" and "could."
By their very nature, forward-looking statements involve numerous assumptions, inherent risks and
uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will
not prove to be accurate. The Bank cautions readers not to place undue reliance on these statements, as a
number of important factors could cause actual results to differ materially from the estimates and intentions
expressed in such forward-looking statements. These factors include, but are not limited to, the economic and
financial conditions in Canada and globally; fluctuations in interest rates and currency values; liquidity; the
effect of changes in monetary policy; legislative and regulatory developments in Canada and elsewhere; the
accuracy and completeness of information the Bank receives on customers and counterparties; the timely
development and introduction of new products and services; the Bank's ability to complete and integrate
acquisitions; the Bank's ability to attract and retain key executives; reliance on third parties to provide
components of the Bank's business infrastructure; unexpected changes in consumer spending and saving
habits; technological developments; consolidation in the Canadian financial services sector; changes in tax
laws; competition; judicial and regulatory proceedings; acts of God, such as earthquakes; the possible impact of
international conflicts and other developments, including terrorist acts and war on terrorism; and the Bank's
anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the
Bank's business involves making loans or otherwise committing resources to specific companies, industries
or countries. Unforeseen events affecting such borrowers, industries or countries could have a material
adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other
factors may cause the Bank's actual performance to differ materially from that contemplated by forward
looking statements.
The Bank cautions that the foregoing list of important factors is not exhaustive. When relying on forward
looking statements to make decisions with respect to the Bank, investors and others should carefully
consider the foregoing factors, other uncertainties and potential events. The Bank does not undertake to
update any forward-looking statements, whether written or oral, that may be made from time to time by or on
behalf of the Bank.
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