Q3/09 Financial Performance Overview

Scotiabank Commercial/Corporate: Higher Provisions in International specific provisions, $ millions 183 151 117 109 29 24 1 10 10 52 52 29 33 22 T T -15 -14 -10 -25 33 3 33 Canadian Banking Q3/08 International Banking Scotia Capital Q4/08 Q1/09 Q2/09 Q3/09 PCL ratio (bps) - 8 9 47 61 Scotiabank 21 Solid Coverage Ratios Earnings Coverage of PCL* (YTD) 3.7x Specific Allowance (Q3/09) as a % of gross impaired loans 37% Total Allowances (Q3/09) as a % of: - gross impaired loans - total loans & acceptances * pre-tax, pre-provision income to total PCL 22 75% 1.1%

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