Global Wealth Management: 2012 Outlook

Global Wealth Management: Key Metrics ($ billions) Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Assets Under Administration¹ 203 269 266 262 269 Assets Under Management¹ 56 106 105 103 106 Mutual Funds Market Share in Canada vs. Schedule 1 Banks² 9.3% 18.7% 18.7% 18.4% 18.4% (1) Comparative amounts have been restated to reflect intercompany relationships (2) Excludes Scotiabank's investment in CI Financial. As of Q2/11, includes DundeeWealth. Source: IFIC Scotiabank 35 36 Global Banking & Markets: Resilient Quarter Revenues (TEB) ($ millions) 857 846 • 680 450 470 305 Year-over-Year Global Capital Markets + Higher trading revenues from fixed income + Strong precious metals and FX Global Corp. & Investment Banking - Lower corporate banking revenues, primarily in the U.S. 407 375 376 Q1/11 Q4/11 Q1/12 Global Capital Markets Global Corporate & Investment Banking Quarter-over-Quarter Global Capital Markets + Record revenue from ScotiaMocatta Global Corp. & Investment Banking + Higher loan volumes - Lower margin Scotiabank

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