Mr. Sobey, age 51, is President and Chief Executive Officer of Empire Company Limited, a food distributor, real estate and investment company. He received his Bachelor of Commerce from Dalhousie University, attended the Harvard University Business School, Advanced Management Program in 1996 and is a chartered accountant. In 2005, Mr. Sobey was awarded the Fellow Chartered Accountant designation by the Institute of Chartered Accountants of Nova Scotia.

Mr. Sobey is a member of the Board of Governors of St. Mary's University. Mr. Sobey sits on the boards of Empire Company Limited, Sobeys Inc. and Crombie REIT. At different times during the period from 2004 to 2008, Mr. Sobey served as Chairman and a director of Wajax Income Fund (formerly Wajax Limited) and as a director of Emera Incorporated and Nova Scotia Power Incorporated.

Scotiabank Board Details:

• Director since August 31, 1999
• Member of: Audit and Conduct Review Committee and Corporate Governance and Pension Committee
• Meets Share Ownership Guidelines
• Independent
• Latest Retirement Date: ineligible for re-election in April 2027