Scotiabank Risk and Credit Portfolio Overview

Scotiabank Scotiabank Net Income* ($ millions) 318 278 294 235 Scotia Capital Steve McDonald Co-Head Scotia Capital 21 Scotia Capital Strong Quarter 276 - Net income flat yr/yr + revenues up 5% • higher interest recoveries and securities gains in Q3/06 strong underlying growth expenses up 15% . • higher performance-based compensation higher technology costs - lower loan loss recoveries Net income down 13% qtr/qtr + higher trading, M&A revenues significantly lower interest and loan loss recoveries Q3/06 Q4/06 Q1/07 Q2/07 Q3/07 * available to common shareholders 22

View entire presentation