2010 Outlook

Q4/09 Risk Overview • Risk in credit portfolios well managed ($ millions) Q4/09 Q3/09 Q4/08 Specific Provisions 424 466 207 Addition to General Allowance 100 Gross Impaired Loans 3,939 3,993 2,494 Scotiabank Decline in Provisions Quarter-over-Quarter ($ millions) Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Specific Canadian Banking 107 155 178 170 International Banking 90 116 115 179 Scotia Capital 10 10 109 117 Total 207 281 402 466 424 8ཎྜ⌘* 192 167 65 Sectoral Canadian Banking Scotia Capital Total General Total PCL Scotiabank 1660 (1) (2) 50 (11) (2) (12) (4) 27 100 207 281 489 554 420 21 22

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