Scotiabank Risk and Credit Portfolio Overview

Scotiabank Scotiabank Mexico Earnings Contribution ($ millions) Q3/07 Q2/07 Q3/06 Net income in pesos, excluding inflation accounting 927 1,084 1,487 MXP/CAD exchange rate 10.1 9.6 9.9 Net income in CAD, excluding inflation accounting $92 $113 $151 BNS' share (97%) $89 $110 $147 Canadian GAAP and acquisition adjustments $11 $1 $13 Scotiabank Mexico contribution in CAD $100 $111 $160 Excl. VAT $109 Scotiabank 39 Diversification: Higher % of Retail Loans Loans and Acceptances by type of borrower 52% 14% Q4/02 34% Residential Mortgages Personal 40% 42% Business & Government Loans and Acceptances by geography 10% 7% 8% 13% 2002 18% Q3/07 7% 6% Canada 9% U.S. Latin 7% 62% America Caribbean Other 40 2006 71%

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