Q3/01 Performance Highlights

€ Growing International contribution Scotiabank Net income, $ millions 104 9* Q3/00 149 132 Q2/01 * gain on sale of Solidbank € Scotiabank ■ Net income up 27% yr/yr ➤ higher revenues in Caribbean ➤ strong contribution from Latin America ➤ Inverlat: $21MM in Q3/01, $17MM in Q2/01 Expenses up 14% qtr/qtr ➤ Mostly SARS Q3/01 21 Risk Review John Crean Senior Executive Vice-President Global Risk Management 22 22

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