Announcements

On September 30, 2014, 75% of earned income in the Scotiabank Short-Term Income Fund (the Fund) will be paid out to shareholders of classes A, IU and NU of the Fund in the form of a distribution.

Details are as follows:

Date of Record: Holders of class A, IU and NU with a positive number of shares as of the close of business day on September 26, 2014 will be eligible for the distribution.

Date of Payment: Distributions will be paid out on September 30, 2014.

Period of coverage for this distribution: As this is the first distribution, the time frame spans since inception of the Fund, beginning on May 1, 2014 through September 29, 2014.

Form of payment: Distributions will be automatically reinvested in additional shares of the same class of the Fund held by a shareholder, unless the Manager or its agent receives written instructions from the shareholder to pay cash distributions.

Frequency of distribution: The Fund intends to pay a monthly distribution, as determined by the Board of Directors. These distributions are not guaranteed and may change at any time at the discretion of the Board of Directors of the Fund. Please refer to the prospectus of the Fund for further details.