Q3/09 Financial Performance Overview

Scotiabank # days 10 8 6 2 Trading Revenue Q3/09 Trading Revenue ($ millions) (7) (6) (5) (4) (3) (2) (1) 0 1 2 3 4 56 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 ■ 91% days had positive results in Q3/09 vs. 86% in Q2/09 51 Scotiabank Unrealized Securities Gains* ($ millions) Q2/09 Q3/09 Emerging Market Debt 375 456 Fixed Income Equities Improvement in value of fixed income investments (1,555) (386) primarily due to narrowing of credit spreads (328) (25) Increase in equities due to rising market values and write-downs taken (1,508) 45 *before related derivative and other hedge amounts 52

View entire presentation