Scotiabank Risk Review

Scotiabank Cable & Telecom exposure Loans & acceptances, $ millions, January 31, 2002 Investment Non-Investment Sector* Grade Grade Total Cable operators 351 1,277 1,628 Regulated telephone 855 51 906 Unregulated telephone/wireless 360 1,170 1,530 Long-haul fibre cable 162 124 286 CLECS 199 199 Total 1,728 2,821 4,549 Net impaired loans: $60 million * no Paging exposure 33 Scotiabank # days Low variability of trading revenue... Net trading revenue, first quarter 2002 10 9 8 7 6 5th percentile 95th percentile 5 I 4 I 3 2 1 0 (7) (5) (3) (1) 0 1 3 5 $ millions 7 9 11 13 15 17 34

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