Investor Relations Presentation

Scotiabank - Canada's Most International Bank As at Q3, 2014 (C$) Canadian Scotiabank 1 Peer Rank Total Assets $792B 3rd Market Capitalization $87B 3rd Q3/14 Net Income 2 $1.8B 3rd ROE 20.6% 2nd Productivity Ratio 2,3 52.9% 3rd 4 Capital Ratio 10.9% 1st Geographic Footprint >55 countries 86,949 Full range of services in retail, commercial, corporate or trade finance products Selective services in retail, commercial, corporate and investment banking or capital markets businesses # of Employees Scotiabank Credit Ratings 5 Senior Rating Moody's Aa2 Fitch DBRS S&P AA- AA A+ Outlook Negative Stable Stable Negative (1) Canadian Peers include BMO, CIBC, RBC, and TD (2) Excludes notable Cl gain in Q3/14 (3) Taxable Equivalent Basis (4) Basel III "all-in" Common Equity Tier 1 Ratio (5) A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revisions or withdrawals at any time 2

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