Investor Presentaiton

Q1/09 Risk Overview Scotiabank Scotiabank Managing through challenging markets - higher provision for credit losses Credit portfolios better positioned than in previous downturns diversification, higher quality lending portfolios 19 Higher Provision for Credit Losses Specific provisions, $ millions Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Canadian P&C Retail 79 82 Commercial 12 20 91 102 99 728 77 78 122 22 29 33 107 155 International P&C Retail 64 69 Commercial (34) 30 60 Scotia Capital (10) 6266 81 105 130 (25) (15) (14) 56 90 116 (9) 4 Total 111 153 159 ༅༔ 10 10 207 281 PCL ratio (bps) 18 24 23 29 37 20

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