Strategy in Action Investor Presentation

Global Wealth Management: Key Metrics ($ billions) Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Assets Under Administration 269 275 272 283 3041 Assets Under Management 106 109 109 115 1311 Mutual Funds Market Share in Canada vs. Schedule 1 Banks² 3 18.4% 18.4% 18.3% 18.3% 18.3% (1) Colfondos acquisition added $11 billion of AUM and AUA (2) Excludes Scotiabank's investment in Cl Financial (3) Includes $856 million of ING mutual fund assets Scotiabank 29 30 Global Banking & Markets: Strong Client-Driven Platform Revenues (TEB) ($ millions) 845 917 949 483 528 470 434 421 375 Q1/12 Q4/12 Q1/13 Global Capital Markets Global Corporate & Investment Banking Year-over-Year Global Capital Markets +12% + Stronger revenues in fixed income and equities businesses Global Corp. & Investment Banking +12% + Good volume growth in Canada, U.S. and Europe + Higher credit fees and stable margin - Lower advisory fees Quarter-over-Quarter Global Capital Markets +9% + Strong revenues in precious metals, fixed income, and equities businesses Global Corp. & Investment Banking -3% + Modest loan growth in Canada, U.S. and Europe - Lower underwriting and advisory fees - Lower margin in the U.S. and Canada Scotiabank

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