Investor Presentation Third Quarter 2008

Risk Overview Scotiabank Managing through challenging environment Stable provisioning quarter over quarter ■ Auto industry exposure manageable - GMAC program performing within expectations 25 Scotiabank Stable Provisioning Quarter-over-Quarter Specific provisions, $ millions Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Domestic: Retail 68 72 79 82 77 Commercial 27 6 12 20 77 78 91 102 99 728 22 International Retail 42 56 64 69 81 Commercial (17) (29) (34) (9) (25) 25 27 30 60 56 Scotia Capital (10) (10) (10) (9) 4 92 95 111 153 159 26

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