Investor Presentaiton

Brazil exposure – limited to government - bonds and trade finance cross-border exposure, US$ millions Scotiabank Q3/02 Q2/02 Government Bonds 323 323 Trade Finance 410 415 Corporate loans 29 34 Total 762 772 29 Scotiabank # days Low variability of trading revenue... Net trading revenue, third quarter 2002 16 114 12 10 10 8 5th percentile 95th percentile 6 < 2 0 (8) (7) (6) (5) (4) (3) (2) (1) 0 1 2 3 $ millions 4 5 6 7 8 9 30

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