International Banking and Risk Review

Scotiabank Q2/09 Items of Note Item Pre-tax ($MM) After-tax ($MM) EPS Impact Business Line; Line Item AFS securities write-downs* Other: Other Income (97) (104) (70) (0.07) SC: Other Income (7) Credit card sale in (36) (26) (0.03) Int'l: Other Income Mexico Provisions release in Mexico 29 29 Q1/09 AFS securities write-downs were $(236)MM Scotiabank Revenues (TEB) ($ millions) 3,673 3,421 3,272 1,509 1,385 1,299 224 21 0.02 Int'l: PCLs 9 Record Revenues Q2/09 vs. Q1/09 revenues: up 7% ■ net interest income up 6% + increase in fair value of financial instruments - shorter quarter ■ other income up 9% + higher securitization revenues, fixed income revenues & credit fees + lower AFS securities write-downs realized gains on securities, underwriting & mutual fund fees 2,164 1,973 2,036 Q2/08 Q1/09 Q2/09 Other income Net Interest Income (TEB) Q2/09 vs. Q2/08 revenues: up 12% ■ net interest income up 10% + asset growth, forex lower margin & tax-exempt income ■ other income up 16% + securitization revenues & strong trading results + credit fees, investment banking & trading revenues, forex - securities writedowns, lower wealth mgmt. fees 10

View entire presentation