Q3/01 Performance Highlights

€ Scotiabank Lower telecom & cable exposure Loans & acceptances, $ millions, July 31, 2001 Investment Sector Grade Non-Investment Grade Total Total U.S. Exposure Cable Operators 347 1,133 1,480 577 Regulated Telephone 885 885 Unregulated 460 1,318 1,778 964 telephone/wireless Other communications 15 422 437 360 Total 1,707 2,873 4,580 1,901 Of which CLECS 211 149 Total exposure down $200 million from Q2/01 Net impaired loans: $125 million 27 € Scotiabank Moderate trading risk maintained $ millions, May 1, 2001 to July 31, 2001 20 15 10 5 -5 -10 -15 Actual P&L VaR 1 day -20 28

View entire presentation