Strategy in action

5 YTD Year-over-Year Comparisons Business Line Net Income Revenue Canadian Banking 13.5% 3.5% International Banking 15.4% 20.0% Global Wealth Management 23.9% 18.1% Global Banking and Markets (1.8%) 3.1% All Bank 12.1% 9.5% Note: Excludes $286 million in acquisition-related gains in Q2/11 Scotiabank Strategy in action Financial Review Sean McGuckin Executive Vice-President & Chief Financial Officer Scotiabank

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