Investor Presentaiton

Scotiabank Three growth platforms Each greater than $1 billion in earnings net income available to common shareholders, $ millions 1,253 1,279 Domestic 2005 2006 1,054 1,047 915 800 International Scotia Capital Domestic: Strong asset and deposit growth offset by compression in the margin, primarily due to higher funding costs. Solid results in wealth management, small business and commercial banking International: Record net income driven by positive earnings impact of acquisitions (Peru, Costa Rica) and strong organic earnings and asset growth across entire division. Scotia Capital: Record net income and ROE due in large part to strong capital markets performance and solid growth in corporate lending. Scotiabank Strong market share gains in Canada & significant growth in new customers Year-over-Year Increase Residential Mortgages +136 basis points Total Personal Lending +82 basis points Personal Term Deposits +78 basis points Total Personal Deposits +48 basis points Domestic Banking: +180,000 new customers in 2006 International Banking: +1.7 million new customers in 2006 Domestic market share figures as at September 2006 6

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