Scotiabank Earnings Overview

Lower specific provisions Scotiabank specific provisions, $ millions Q2/04 Q1/04 Q2/03 Domestic: 81 92 77 International: 18 7 3 Scotia Capital: - Canada (2) 18 65 - U.S. 18 26 12 - Europe 16 27 94 32 71 171 Other (1) (3) Total 130 170 248 27 Scotiabank Positive trend in specific provisions specific provisions, $ millions 325 275* 224* 133* 170 ☐ Other ■Scotia Capital 130 Q1/03 Q2/03 Q3/03 Q4/03 Q1/04 Q2/04 excluding Argentina 28

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