Investor Presentaiton

Retail: Stable Provisions Quarter-over-Quarter (specific provisions, $ millions) 283 281 252 251 122 146 183 130 125 105 Q4/09 vs. Q3/09 International Banking Lower provisions in Mexico, Peru, Chile & Caribbean Canadian Banking Higher provisions for unsecured revolving credit Provisions in acquired auto business stable and as planned • 159 122 126 137 78 Q4/08 Q1/09 Q2/09 Q3/09 Canadian Banking International Banking Q4/09 PCL ratio (bps) 44 58 60 67 70 Scotiabank Corporate/Commercial: Lower Provisions Quarter-over-Quarter (specific provisions, $ millions) 23 183 151 Q4/09 vs. Q3/09 Scotia Capital 143 • 117 109 2 65 65 45 33 45 33 33 33 33 24 29 10 10 52 29 33 -15 -14 -10 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Canadian Banking International Banking Scotia Capital Lower provisions in Canada & U.S. International . Higher provisions in Asia, Peru, Caribbean & Central America Lower provisions in Mexico & Chile PCL ratio (bps) 8 8 46 60 53 Scotiabank 24 224

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