Scotiabank in a glance

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2 Scotiabank in a glance Strength, integrity, and service for over 180 years Recognized by Canadians as Canada s most reputable bank 2 Ranked among world s top 10 Most Stable Banks 3 Serving more than 19 million customers in some 55 countries worldwide Over 81,000 Scotiabank Group employees worldwide, including more than 34,000 in Canada, many of whom may speak your language

3 Global Footprint

4 Our Core Businesses Canadian Banking International Banking Global Banking and Markets (GBM) Global Wealth Management (GWM)

5 Canadian Banking Retail and Small Business Canadian Banking Day to Day Banking Products Investments Mortgages & Loans Creditor Insurance Products Multicultural Banking

6 Immigration to Canada Permanent Residents (2011: +248K) Canada welcomes over 500,000 thousand immigrants every year who come to work and make Canada their new home under its immigra9on schemes Foreign Workers (2011: +191K) Interna>onal Students (2011: +98K)

7 Belgians to Canada 2,000 1,524 1,500 1,000 1, IS FW PR Country CAGR CAGR China 4.0% -1.6% USA -0.2% 0.8% India 3.0% 2.8% Belgium 9.9% -3.5% Top % 3.3% Total Canada 3.1% 1.9% Belgian immigrants to Canada have increased steadily since Belgian Foreign Workers in Canada have doubled its number in 9 years Source: CIC Sta9s9cs 2011

8 Belgians in Canada Belgians in Canada 2006: 20,215 New PRs : 3,479(*) Belgians in Canada 2011: +24,959 FW : 887 IS: Dec 11 CAGR : Belgians in Canada: 4.3% Canada popula>on growth: 1.2% (*) Adjusted to Canadian average death rate Source: CIC Sta9s9cs Census Canada 2006

9 Scotiabank StartRight Permanent Residents Sco9abank StartRight program is a simple yet complete banking package for newcomers to Canada from managing day- to- day banking, building credit history and inves9ng in the future. Foreign Workers Interna>onal Students

10 Scotiabank StartRight: Features For landed immigrants and foreign workers: Enjoy a chequing account with free day- to- day banking for one year 2 Secure your valuables with a free small safety deposit box for one year 4 Buy a car with specially designed financing at select dealerships 5 Build your credit history with an unsecured credit card 3 that meets your needs Get a specially designed mortgage solu9on to assist you in purchasing a home in Canada 6 Send money quickly and conveniently through Western Union Money Transfer services available at Sco9abank for only $9 plus 1% of the money sent by online or mobile 7

11 Scotiabank: Overseas Account Opening Process The Interna9onal Account Opening Program allows landed immigrants and foreign workers from selected countries to open a Sco9abank account, send money and get a VISA credit card before arriving in Canada. UK India China Philippines Mexico Customer completes Referral Form in a branch of our interna9onal partners (China- Everbright Bank, Mexico- Sco9abank Mexico, India- Kotak Mahindra) or On Line (UK India Philippines) Before leaving their home country

12 Corporate programs for Foreign Workers + Scotiabank StartRight program has the capabilities to build tailored-maid banking solutions for your international employees to meet their banking needs. From financial seminars to special credit facilities Multicultural Banking is able to make newcomers settlement process in Canada easier and painless

13 Scotiabank StartRight Auto Finance Program Note: For all above products, please refer to product disclosures on Slides 17-18

14 Global ATM Alliance Sco9abank is a proud founding member of the Global ATM Alliance, along with Bank of America, BNP Paribas, Barclays, Deutsche Bank and Westpac. Now use over 3,500 Sco9abank ATMs across Canada. You can also access over 50,000 ATMs world- wide.

15 Multilingual Services Sco9abank s mul9lingual services provide customers with banking convenience: Mul9lingual staff on selected branches across the country Five languages available on Sco9abank ABM Machines Six languages spoken at the Customer Contact Centre: Over 20 francophone branches in the GTA

16 Thank you Fabiola Sicard Director Multicultural Banking Scotiabank

17 The fine print 1. The Scotiabank StartRight Program, created for Canadian Landed Immigrants from 0-3 years in Canada, International Students and Foreign Workers. The Scotiabank StartRight Mortgage Program, created for Canadian Landed Immigrants and Foreign Workers from 0-5 years in Canada. 2. Ranked by Canadian Business Magazine and the Reputation Institute 3. Ranked by Renowned International Consulting Firm, Oliver Wyman, Offer available for one year when you open a new Scotia One account with Scotiabank. Free banking means that we will waive your Monthly Account Fee only. All other fees not covered by your banking package will continue to apply, including additional fees charged by other financial institutions and access fees to use non-scotiabank banking machines (e.g., Interac, Visa* or PLUS* fees). Cardholder service fees continue to apply for using cross border debit service. Please see the Day-to-Day Banking Companion Booklet for further details about these services and fees. 5. Scotiabank is an authorized agent facilitating Western Union Money Transfer services. Western Union Money Transfer fees vary based on amount sent and destination. Information on Western Union Money Transfer fees can be obtained at a participating Scotiabank branch. A Scotiabank day-to-day banking account is required for use of Western Union Money Transfer services from a participating Scotiabank branch. 6. Subject to meeting Scotiabank s credit criteria and security requirements. An unsecured VISA card may be available up to certain credit limits; a secured VISA card requires security equal to 100% of approved credit limit for Foreign Workers and Permanent Residents and 120% of approved credit limit for International Students. VISA card security can be cash security, Canada Savings Bonds or Guaranteed Investment Certificate. In addition, to be eligible for a personal borrowing product, you must be a Canadian resident and have reached the age of majority. 7. Subject to availability and signing the Safety Deposit Box lease. 8. Applicable to residential mortgages only and subject to Scotiabank lending criteria for residential properties. CMHC/Genworth Financial Canada mortgage default insurance may be required for Loan to Value ratios (LVRs) greater than 50% to a maximum of 95%. Maximum LVRs available may be less than 95%. 9. Currently the Auto Loan Program is available through the following car dealerships in Canada: Kia, Chrysler, Hyundai, Jaguar/ Land Rover, Mazda, Mitsubishi and Volvo. This program is only available for Landed Immigrants and Foreign Workers. Subject to Scotiabank financing terms and conditions. Downpayment required ,000 points will be added to your SCENE membership when you obtain a SCENE ScotiaCard on a new SCENE-eligible bank account and make your first debit purchase. Purchase must be made within 60 days of opening the account. 1,000 points will be added to your SCENE account for having your payroll deposited to your new SCENE-eligible Scotiabank account or a total of 2 pre-authorized credits (PACs) and/or pre-authorized debits (PADs), provided your automatic payroll or PAD/PAC is set up within 60 days of opening your account. Each sign-up offer is awarded once per customer per SCENE membership. Each offer is paid once per customer on joint or single accounts once your account has qualified. For joint accounts, if at the time of awarding either offer, each customer has registered an individual SCENE membership, points will be split equally. Pre-authorized payroll or 1 of the following combinations of pre-authorized transactions must be transacted in one account (the same): a) 2 PADs, b) 2 PACs or c) 1 PAD and 1 PAC. These offers do not apply to existing SCENE-eligible Scotiabank account holders. SCENE points are awarded for debit purchase transactions and Interac Flash transactions from an eligible account using your SCENE ScotiaCard. Points accumulated using the SCENE ScotiaCard will be updated within 2-3 business days for debit transactions and monthly for the Scotiabank sign-up and banking relationship offers. Earn 1 SCENE point for every $5 you spend on debit purchases and 5 SCENE points for every $1 spent at participating theatres and online at cineplex.com. SCENE points can only be redeemed at participating Cineplex Entertainment Theatres, or scene.ca for other points offers (or rewards). Some conditions and limitations apply. Visit scene.ca for complete details.

18 The fine print (cont d) 11. Qualifying students are full-time students attending a Canadian university, community college, CEGEP or other recognized post-secondary school. To take advantage of the Student Banking Advantage Plan account benefits, you will need to visit your branch each calendar year prior to October 31st and present proof that you are enrolled full-time in a qualifying post-secondary school. When you are no longer enrolled full-time or you have not presented proof of full-time post-secondary school enrolment, the plan will be removed and the account will automatically be converted to a Powerchequing account. Personal identification requirements must be met. The Scotia Momentum No-Fee VISA annual interest rate is 19.99% on purchases, and 21.99% on cash advances, balance transfers, and Scotia VISA Cheques. Your interest rate will increase to 23.99% (4% higher) on purchases, and 25.99% (4% higher) on cash advances**, balance transfers and Scotia VISA cheques for at least 6 months starting with your next statement if, including during any promotional rate period, you: miss 2 minimum payments in a row, or miss 3 minimum payments in any 12 month period including making any payment that is returned or beyond the next statement date. You will benefit from an interest-free grace period of at least 21 days for new purchases if you pay off your balance on your monthly statement in full by the payment due date. There is no interest-free grace period for cash advances, balance transfers and Scotia VISA cheques. Your minimum payment will be the greater of 2% of your monthly statement balance or $10.00, in addition to any amounts showing on your monthly statement as OVERDUE or OVERLIMIT. Transactions with the card made in a foreign currency will be converted and posted to your account in Canadian currency. The exchange rate is determined by VISA Inc. on our behalf on the date that the transaction is settled with VISA Inc. This rate includes an amount equal to 2.5% of the converted amount. There is no annual fee for the Scotia Momentum No-Fee VISA card. The fee for each cash advance processed by a teller at any financial institution in Canada is $2.50, and $5.00 at any financial institution outside of Canada.The cash advance fee is $2.50 at any Scotiabank ABM in Canada, $2.50 at any non-scotiabank ABM in Canada displaying the Interac symbol, and $5.00 at any ABM outside of Canada.The Balance Transfer fee is 1% of each balance transfer amount over $100.00, to a maximum fee of $150.00, and applies when a promotional interest rate is in effect on your account, which is lower than your regular interest rate. Other fees include: Dishonoured payment fee of $ Dishonoured Scotia VISA cheque fee of $ A $5.00 fee for each replacement sales draft, cash advance draft or monthly statement. An overlimit fee of $ An inactive fee of $10.00 if there are no debit or credit transactions in 12 consecutive months. Where applicable, any inactive fee will be charged after there have been no debit or credit transactions on your account for 12 consecutive months. Dishonoured payment fees and dishonoured Scotia VISA cheque fees are charged on the date the payment or cheque is returned. Overlimit fees are charged on the day your balance first exceeds your credit limit and on the first day of each statement period if your account remains overlimit from a previous statement period. All other fees are charged on the day the transaction occurs. Annual Interest Rates, Annual Fees, Other Fees and Foreign Currency Conversion are subject to change. Registered trademarks of The Bank of Nova Scotia *VISA Int./Licensed User The Bank of Nova Scotia TM Trademark of The Bank of Nova Scotia * Registered trademark of SCENE IP LP, used under licence. The WESTERN UNION name, logo and related trademarks and service marks, owned by Western Union Holdings, Inc, are registered and/or used in the U.S. and many foreign countries and are used with permission. Interac, Interac Flash and Pay in a flash are trademarks of Interac Inc., user The Bank of Nova Scotia. With your Interac Flash feature, small purchases can be made by waving or tapping your SCENE ScotiaCard over a special card reader at participating merchants. For more information, visit scotiabank.com/flash. Cineplex Entertainment LP, used under licence.