Scotiabank Earnings Performance Review

Scotiabank Strong Market Share Gains Year-over-Year Increase +17 basis points Residential Mortgages Personal Term Deposits +103 basis points* Total Personal Deposits +63 basis points* Mutual Funds +26 basis points *Acquisition of Dundee Bank contributed +15 basis points to personal term deposits and +22 basis points to total personal deposits Domestic market share figures as at March 2008 Scotiabank ☐ 15 Domestic Update on 2008 Priorities Drive sustainable revenue growth • Acquire new customers - Opened 4 new branches in Q2, plan to open 15 in 2008 • • • - - · Added front line staff in retail & small business Continue to develop strategic alliances with NHL, Cineplex/SCENE & Western Union Launch new initiatives - Launched "Bank the Rest" savings program - Introduced Scotia Gold Passport for business VISA card Enhance technology & infrastructure - Upgrade branch technology platform - Invest in ATMS & CHIP Focus on wealth management - Launch of advisory series of funds and Scotia Climate Change Fund - Growth of mutual fund wholesaler team initiated for advisor series Adding front line sales staff and investing in technology 16

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