Scotiabank Q2 Financial Results

Scotiabank annual dividend/share 32.5¢ 1996 1998 Dividend growth CAGR: 16.5% 2000 2002 $1.50* 2004 2006 ■ 3 cent or 8% dividend increase effective Q3/06 ■ 14% increase in 2006 based on current rate 5 Scotiabank Solid contribution from all 3 businesses net income available to common shareholders, $ millions 279 329 296 Domestic 186 233 Q2/05 Q1/06 Q2/06 276 268 258 239 International Scotia Capital ■ Domestic: Substantial year-over-year volume and market share increases in residential mortgages and personal deposits as well as strong results in wealth management. ■ International: Strong growth in Mexico and continued solid performance in the Caribbean & Central America bolstered by low credit losses and acquisitions. ■ Scotia Capital: Record results benefited from continued stable credit environment and a strong performance in derivatives, foreign exchange and precious metals. 6

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