Canadian and International Banking Performance

35 Global Wealth Management: Continuing Growth Revenues (TEB) ($ millions) 603 549 119 111 Year-over-Year • Wealth Management 1,096 120 260 Scotiabank + Gain from revaluation of original 18% stake in DundeeWealth + Contribution from DundeeWealth + Organic growth in AUA / AUM Insurance + Growth in fee revenues 716 • 484 438 Q2/10 Q1/11 Q2/11 Insurance Wealth Management (represents gain from revaluation of original 18% stake in DundeeWealth) Quarter-over-Quarter Wealth Management + DundeeWealth gain + Higher mutual fund fees - DundeeWealth contribution offset by acquisition costs • Insurance + Growth in fee revenue - Fewer days in quarter Global Wealth Management: Key Metrics Scotiabank ($ billions) Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Assets Under Administration¹ 186 185 195 203 280 Assets Under Management¹ 51 52 54 57 107 Mutual Funds Market Share in Canada vs. Schedule 1 Banks² 9.1% 9.2% 9.2% 9.3% 18.7% (1) Prior periods restated to conform with current presentation (2) Excludes Scotiabank's investments in DundeeWealth and CI, however beginning in Q2/11, includes DundeeWealth. Source: IFIC 18

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