Strategy in Action Investor Presentation

Overview Rick Waugh Chief Executive Officer Scotiabank Q1 2013 Overview • Strong start to the year - - Net income: $1,625 million EPS: $1.25 ROE: 16.6% Revenue growth of 12% (15% excluding real estate gain in Q1/12) ING DIRECT transition progressing well • Credit conditions remain stable Capital position continues to be strong and high quality Quarterly dividend increase of 5% or $0.03 per share Scotiabank

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