Canadian and International Banking Performance

Financial Review Luc Vanneste Executive Vice-President & Chief Financial Officer Scotiabank Q2/11 Reported Results Revenue (TEB) ($ millions) Net Income ($ millions) 4,586 3,944 4,196 1,543 1,097 1,200 Q2/10 Q1/11 Q2/11 Q2/101 Q1/112 Q2/11 Record Quarter Earnings Per Share ROE 1.36 1.02 1.07 22.9% 19.9% 18.7% Q2/10 Q1/11 Q2/11 Q2/10 Q1/11 Q2/11 (1) Non-controlling interest has been deducted from net income (2) Restated due to adopting new accounting standards Scotiabank 3

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