Scotiabank Financial Performance Review

Scotiabank Met or exceeded 2007 targets Q4/07 2007 Objective EPS Growth 7% 13% VS. 7-12% ROE 21.0% 22.0% VS. 20-23% Productivity 54.4% 53.7% VS. <58% Scotiabank 7 2008 Outlook ◉ Challenging operating environment ■ Continued focus on key priorities: Sustainable revenue growth - Effective capital management - Leadership development ■ Maintain positive targets and outlook 8

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