Earnings Performance Review Q3/05

Scotiabank Credit risk overview ▪ Lower gross impaired loans: $1.8 B - down $119 mm vs. Q2/05 ■ Lower net impaired loans: $573 mm (after specific allowance) ■ - down $93 mm vs. Q2/05 - down $625 mm vs. Q3/04 Specific provisions: $85 mm ― - up $50 mm vs. Q2/05 - down $15 mm vs. Q3/04 ■ No change to the General Allowance 27 Scotiabank $ millions Low net formations again this quarter Domestic - - Retail 50 50 - Commercial 11 61 International 9 Scotia Capital - U.S. (4) - Other 3 (1) Total 28 69

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