Q3/09 Financial Performance Overview

Scotiabank $ millions Moderate Increase in Specific Provisions Quarter-over-Quarter Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Specific Canadian 99 107 155 178 170 International 56 90 116 115* 179 Scotia Capital 4 10 10 109 117 Total 159 207 281 402 466 Sectoral Canadian Scotia Capital General * net of $29MM provision reversal in Mexico 10 (1) 50 (11) 60 (12) 27 100 159 207 281 489 554 19 Retail: Underlying Provisions Stable Quarter-over-Quarter Scotiabank specific provisions, $ millions 283 252 251 146 183 130 125* 158 105 81 122 126 137 77 78 Q3/08 Q4/08 Q1/09 Canadian Banking PCL ratio (bps) 40 44 * net of $29MM provision reversal in Mexico Q2/09 Q3/09 International Banking 61 20 63 70

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