Scotiabank Investor Presentation

Broad-Based Growth in Other Income* Increase (Decrease) Increase (Decrease) vs. Q4/99 vs. 1999 $MM % $MM % 26 41% Retail Brokerage Fees 116 42% 5 17 Mutual Funds 16 14 10 6 Credit Fees 89 16 16 9 Investment Banking 50 7 24 8 Other 114 9 81 11% 385 14% (56) Gain on Investment Securities excludes gain on sale of stock transfer business and investment in Solidbank (Q3) 15 9 Relentless Focus on Expense Control Increase in expenses 2000 vs. 1999 8% less: - performance-related LO 5 - Chile Base expenses 2 1% 10

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