Strong Quarter Financial Performance

2 8 Q3 2010 Trading Results Within One-Day VaR 800 0 40 30 20 20 10 0 (10) (20) Scotiabank Actual P&L 1-Day VaR W Average 1-Day VaR Q3/10: $12.7MM Q2/10: $13.4MM Q3 2010 Trading Revenue Distribution (15) (# days) Jul (13) (11) (9) (8) (7) (6) (5) (4) (3) (2) (1) 0 1 2 3 456789 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 ■ 75% of days had positive results in Q3/10 Scotiabank ($ millions) 44 43

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