Scotiabank Investor Presentation Second Quarter, 2007

Scotiabank % 1.97 All Bank 1.98 Net interest margin 1.91 1.93 1.89 Domestic 2.74. 2.67 2.62 2.58 2.58 International 4.15 4.19 4.20 4.09 4.03 Scotia Capital 0.76 0.73 0.71 0.71 0.79 Q2/06 Q3/06 Q4/06 Q1/07 Q2/07 Scotiabank All-Bank margin: +2 bps qtr/qtr Domestic margin: flat qtr/qtr International margin: (6) bps qtr/qtr ■ negative impact of mark-to-market on financial instruments Scotia Capital margin: +8 bps qtr/qtr higher interest recoveries " 37 International Banking Changing Regional Mix 22% 44% 2007 YTD Net Income - $609MM 34% 2006 YTD Net Income $501MM - 34% 54% 12% Mexico Caribbean & Central America ☐ Latin America, Asia & Other 38

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