Q4/09 Financial Highlights

Q4/09 Risk Overview • Risk in credit portfolios well managed ($ millions) Q4/09 Q3/09 Q4/08 Specific Provisions 424 466 207 Addition to General Allowance 100 Gross Impaired Loans 3,939 3,993 2,494 Scotiabank Decline in Provisions Quarter-over-Quarter ($ millions) Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Specific Canadian Banking 107 155 178 170 192 International Banking 90 116 115 179 167 Scotia Capital 10 10 109 117 65 Total 207 281 402 466 424 Sectoral Canadian Banking Scotia Capital Total General Total PCL 10 (1) (2) 50 (11) (2) 60 (12) (4) 27 100 207 281 489 554 420 Scotiabank 21 22

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