Scotiabank Risk Review Performance Highlights

Scotiabank Growth across all business lines net income, $ millions Scotiabank 293 264 211 200 171 169 Q2/03 Q2/04 82 (8) Domestic International Scotia Capital Other 5 Exceeding 2004 targets to date Q2/04 YTD/04 Target ROE 21.8% 20.6% VS. 16-19% EPS Growth 34% 28% VS. 10-15% Productivity 54.3% 54.3% VS. <58% 6

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