Investor Presentaiton

Scotiabank ☐ U.S. (1) Exposure Manageable and Well Contained no direct exposure to credit cards, personal loans or sub- prime mortgages secured auto loans (GMAC): $5.7 billion bankruptcy remote/individually secured internally modelled to investment grade (>92% AAA) portfolio performing at or above expectations Corporate lending portfolios remain in good shape, asset quality strong (1) excludes US territories 33 VaR by Risk Factor Scotiabank Average 1 day VaR, $ millions Risk Factor Q1/08 Q4/07 Q1/07 Interest rate 13.8 9.2 7.2 4.5 6.1 3.6 Equities Foreign exchange 3.6 3.9 2.6 & Commodities Diversification (5.3) (6.0) (4.2) All-Bank VaR 16.6 13.2 9.2 34

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