Q2/01 Performance Highlights

Improved performance from Scotia Capital Net income, $ millions 162 120 192 ■ Net income up 19% yr/yr ■ Provision for credit losses down 48% versus Q1/01 ■ Revenues up 19% yr/yr Global Trading +55% ➤ Underwriting +52% ➤ Lending +9% Q2/00 Q1/01 Q2/01 17 Rising International contribution Net income, $ millions 115 95 149 Latin America Q2/00 Q1/01 Q2/01 18 ■ Net income up 57% yr/yr ➤ Caribbean up 23% ➤ Asia up 32% ➤ Latin America up 160% • Inverlat +$17 million

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