Investor Presentation Q4 2005

Scotiabank Overview Rick Waugh President & Chief Executive Officer 3 Scotiabank 2005- record results 2005 Results (vs. 2004) ■ EPS: $3.15 - up 12% ■ ROE: 20.9% vs. 19.9% ■ Provision for credit losses: $230 mm vs. $390 mm Q4/05 Results (vs. Q4/04) ■ EPS: $0.80 - up 16% ■ ROE: 20.5% vs. 18.8% Strong Capital Ratios ■ TCE: 9.3% Another Dividend Increase ■ +2 cents to 36 cents/quarter effective Q1/06 4

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