Scotiabank Risk and Credit Portfolio Overview

Scotiabank Scotiabank Domestic Banking Chris Hodgson Executive Vice President Domestic Personal Banking 15 Net Income* ($ millions) Domestic Banking Strong Performance + revenues up 9% 391 Net income up 22% yr/yr 361 364 - 335 • 319 Q3/06 Q4/06 Q1/07 Q2/07 Q3/07 expenses up 1% • business growth initiatives partly offset by lower pension and benefits costs - higher PCLs in line with loan growth Net Income up 7% qtr/qtr + strong volume growth + longer quarter * available to common shareholders 16

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