Scotiabank Risk Review Performance Highlights

€ Scotiabank Margin Q2/04 vs. Q1/04 vs. Q2/03 Net interest margin 2.21% 3 bps (4) bps Canadian currency (ex AcG 13) Foreign currency (ex ACG 13) ACG 13/Other 11 (4) (11) 7 7 3 bps (4) bps Growth in other income Scotiabank - large investment gains this quarter $ millions Change Q2/04 vs. Q1/04 Change Q2/04 vs. Q2/03 $ % $ % 209 20 Reported 284 29 (10) Impact of stronger Canadian dollar 79 199 19 Underlying 363 38 175 Investment securities' gain 216 18 Underwriting fees & other 42 11 Retail brokerage 34 6 Deposit & payment services 24 12 Securitization revenues 20 (9) Card revenues 15 (4) Credit fees (21) 40 (50) Trading revenue Other (20) 53 12

View entire presentation