Growing Earnings and Risk Review

Scotiabank Scotiabank Dealt with Q1/01 classifications $ millions Industry Financial Services Entertainment Utilities Apparel Asbestos Steel Media Classification in Q4/01 Q1/01 Balance 345 0 305 0 215 94 125 0 70 61 50 49 45 1,155 204 Total sales in 2001 = $716MM 29 Aggressive provisioning – U.S. portfolio - Specific provisions, $ millions 2001 2000 Scotia Capital - U.S. 671 308 - Other 83 104 Domestic International 246 168 250* 185 1,250 765 * includes $50 million set aside against Argentine exposure 30

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