Investor Presentaiton

Scotiabank Volatile Capital Markets ... Core Franchises Remain Strong ▪ challenging conditions in capital markets ◉ widening credit spreads ■ continued weak trading results ■ Q1/08 write-downs/reserves of $238 million (pre-tax), $0.17/share ▪ strong core franchises ■ solid market share gains in Domestic ☐ good organic growth & benefit of acquisitions in International high quality loan growth in Scotia Capital ด Scotiabank 5 Performance Review Luc Vanneste Executive Vice-President & Chief Financial Officer 6

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