Scotiabank Investor Presentation

$ millions Strong Top-Line Revenue Growth Q4/00 Q4/99 change 2000 1999 change 1,444 1,226 18% Net interest income (TEB) 5,393 4,835 12% 865 840 3% Other income 2,309 2,066 12% Total revenues 3,665 3,183 15% 9,058 8,018 13% Net interest margin 7 Higher Margins Increase due to: Improved spreads in Canada Securities income International Wider spreads in U.S. Other Increase Q4/00 vs. Q4/99 vs. Q3/00 2.32% 17 bps (5) bps 8 +4 - +3 +3 (5) + +7 I

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