2013 Outlook Presentation

Canadian Banking: Strong Organic Asset Growth Revenues (TEB) ($ millions) Year-over-Year Retail & Small Business +18% + Strong organic asset growth 1,755 1,746 + Impact of ING acquisition 1,517 416 403 377 1,339 1,343 1,140 + Stable margin (ex ING) + Higher card revenues Commercial Banking +7% + Strong asset growth - Lower margin Quarter-over-Quarter Retail & Small Business -0% + Higher mortgage volumes - Shorter quarter Commercial Banking -3% Q2/12 Q1/13 ■Commercial Banking Retail & Small Business Scotiabank 25 26 Q2/13 - Shorter quarter + Higher fees Canadian Banking: Volume Growth Excluding Q2/13 Q1/13 Q/Q Average Balances ($ billions) Q2/12 Y/Y ING Y/Y 186 180 3%1 Residential Mortgages 146 27% 7% 52 51 1%2 Personal Loans and Credit Cards 47 9% 8% Business Loans & 30 29 3%3 27 11% 8% Acceptances 134 128 5%4 Personal Deposits 103 29% 2% 53 52 1% Non-Personal Deposits 42 28% 7% esor (1) (2) Excluding full quarter impact of ING, growth was 0.75% Excluding full quarter impact of ING, growth was 1.0% (3) Excluding full quarter impact of ING, growth was 2.7% (4) Excluding full quarter impact of ING, growth was 0.4% Scotiabank

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