Q1/06 Business Line Results and Risk Review

Scotiabank $ millions 35 25 25 15 5 -5 -15 Scotiabank Moderate market risk November 1, 2005 to January 31, 2006 Actual P&L VAR 1 day тилит Average 1 day VAR = $8.1 mm 25 Risk summary ☐ Credit quality remains stable continue to closely monitor auto and forestry sectors - actively managing portfolios ■ Market risk well controlled 26

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