Announcements

On March 31, 2015, 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 March 27, 2015 will be eligible for the distribution.

Date of Payment: Distributions will be paid out on March 31, 2015.

Period of coverage for this distribution: The time frame spans since February 26, 2015 through March 30, 2015.

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.