Q1 2014 Trading Results and Financial Overview

International Banking - Revenue & Volume Growth Revenues (TEB) ($ millions) 6% Y/Y Average loan & acceptances ($ billions) 17% Y/Y 1,753 1,821 1,853 60 64 54 15 17 17 18 19 20 Q1/13 Q4/13 Q1/14 Residential mortgages Personal & credit cards Business Average deposits ($ billions) 13% Y/Y 43 38 41 Q1/13 Q4/13 Q1/14 22 23 24 Q1/13 Q4/13 Q1/14 Personal Non-personal 21 Scotiabank International Banking - Regional Growth Revenues (TEB) ($ millions) Average loan & acceptances ($ billions) 17% Y/Y 6% Y/Y 21 23 17 25 25 26 169 183 178 45 50 52 473 499 492 Q1/13 Q4/13 Q1/14 Latin America Caribbean & Central America Asia 1,083 1,179 1,171 Constant FX Volume growth Y/Y Retail Commercial Total Latin America 16% 10% 13% C&CA 2% -3% -1% Q1/13 Asia Q4/13 Q1/14 Asia N/A 28% 28% Caribbean & Central America Latin America Total 10% 13% 12% (1) Excludes bankers acceptances 22 Scotiabank 11

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