Strategy in action

35 36 Global Wealth Management: Solid Performance Revenues (TEB) ($ millions) 1,111 260 905 859 141 119 145 732 764 714 Q2/11 Q1/12 Q2/12 Insurance Wealth Management Acquisition-related gain Scotiabank • . Year-over-Year Wealth Management + Higher Canadian mutual fund revenues - Lower online brokerage revenues Insurance + Strong global insurance revenues Quarter-over-Quarter Wealth Management + Higher Canadian mutual fund revenues + Higher brokerage revenues Insurance - Lower global insurance revenues due to reserve releases in Q1/12 Global Wealth Management: Key Metrics ($ billions) Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Assets Under Administration 269 266 262 269 275 Assets Under Management 106 105 103 106 109 Mutual Funds Market Share in Canada vs. Schedule 1 Banks¹ 18.7% 18.7% 18.4% 18.4% 18.4% (1) Excludes Scotiabank's investment in CI Financial. Source: IFIC Scotiabank

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