Investor Presentaiton

Scotiabank Canadian Banking Volume Growth Average Balances ($BN) Q3/09 Q2/09 Q3/08 Y/Y Q/Q Residential 119.9 118.0 112.3 6.7% 1.6% Mortgages* Personal Loans 35.8 34.2 29.6 21.0% 4.6% Credit Cards** 9.2 9.1 8.8 4.5% 0.7% Non-Personal Loans & 25.0 25.7 25.9 (3.6)% (2.8)% Acceptances Personal Deposits 93.8 92.3 85.2 10.1% 1.6% Non-Personal 52.5 48.9 43.3 21.5% 7.4% Deposits Wealth Mgmt. 126.8 116.2 130.3 AUA (2.7)% 9.1% * before securitization ** Includes ScotiaLine VISA Scotiabank 33 International Banking Solid Underlying Quarter Q3/09 Q2/09 Change Q/Q Comments on Q/Q Movements ■ improved margins NII 979 959 20 Other 296 349 Income (53) ■ decrease in average assets, mainly forex impact ■ $(79)MM write-down on an equity investment ■ lower treasury & transaction driven revenues positive FV changes in certain financial instruments ■ $36MM Q2/09 loss on sale of a portion of Mexico's performing credit card portfolio Expenses 718 729 (11) ■ down 2% due to forex PCL 179 115 64 Net Income 312 332 (20) ■ Q2/09 benefited from reversal of a $29MM retail provision no longer required in Mexico ▪ some commercial PCLs (vs Q2/09 net recoveries) ■up 1% excluding forex ■ continued focus on expense & risk management 34

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