Investor Presentation - First Quarter 2010

Trading Results Within One-Day VaR 40 30 20 10 0 (10) (20) (30) (40) Scotiabank Trading Revenue 7 CO 6 5 (# days) 3 2 F O ul. (3) Q1/10 Trading Revenue -Actual P&L 1-Day VaR Average 1-Day VaR Q1/10: $14.6MM Q4/09: $15.0MM (2) (1) 0 1 2 3 4 5 6 8 9 10 11 12 13 14 15 16 17 ($ millions) Scotiabank ■ 87% of days had positive results in Q1/10 43 44

View entire presentation