Strengthening Capital and Wealth Management Presentation

Unrealized Securities Gains 39 Scotiabank ($ millions) Q2/10 Q1/11 Q2/11 Emerging Market Debt 375 315 284 Other Debt 255 450 460 Equities 233 399 464 863 1,164 1,208 Net Fair Value of Derivative Instruments (67) (106) (82) and Other Hedge Amounts Total 796 1,058 1,126 Improving Trend in PCL Ratios 40 Scotiabank (Specific PCL as % of average loans & BAs) Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Canadian Banking Retail Commercial Total 0.36 0.33 0.31 0.29 0.28 0.70 0.39 0.56 0.51 0.36 0.40 0.34 0.34 0.32 0.29 International Banking Retail 2.45 1.89 2.02 1.76 1.94 Commercial 0.54 0.20 (0.01) (0.03) (0.10) Total 1.23 0.86 0.77 0.65 0.67 Scotia Capital Corporate Banking (0.07) (0.09) (0.11) (0.04) 0.15 All Bank 0.55 0.43 0.41 0.38 0.38 20 20

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