Investor Presentaiton

Scotiabank Strong Relative PCL Performance Specific Provisions as % of Average Loans and Acceptances 0.70% 0.60% 0.50% 0.40% 0.30% 0.24% 0.20% 0.16% 0.14% 0.10% 0.00% 2005 2006 Scotiabank 0.32% 0.26% 0.24% 0.13% 2007 BNS 4 Cdn. Bank Peers 41 0.51% 0.37% 2008 Q1/09 Gross Impaired Loans Gross Impaired Loans, $ millions Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Canadian P&C Retail Commercial 422 444 472 523 621 207 244 228 238 262 629 688 700 761 883 International P&C Retail 559 664 688 833 997 Commercial 566 604 674 776 919 1,125 1,268 1,362 1,609 1,916 Scotia Capital 88 56 101 124 186 Total 1,842 2,012 2,163 2,494 2,985 Total GIL as % loans & acceptances 0.70 0.74 0.76 0.82 0.97 42

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