Investor Presentaiton

Q1 2011 Trading Revenue Distribution (# days) 12 10 8 00 6 4 2 0 (7) (6) (5) (4) (3) (2) (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Scotiabank • 91% of days had positive results in Q1/11 ($ millions) 49

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