Investor Presentaiton

Scotiabank #days 12 10 8 4 2 0 Trading Revenue Q1/08 Trading Revenue* ($ millions) مارس (7) (6) (5) (4) (3) (2) (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 ■ 79% days had positive results in Q1/08 vs 86% in Q4/07 * excludes $80 million reserve taken against a monoline account ต Scotiabank 35 Outlook Rick Waugh President & Chief Executive Officer 36

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