Scotia Securities Inc. as a Mutual Fund Dealer

Scotia Securities Inc. (SSI) is a Dealer of mutual funds and is a corporate entity separate from, although wholly-owned by, The Bank of Nova Scotia ("Scotiabank"). Mutual fund units and other investments offered by Scotia Securities Inc., unless advised to the contrary, are not insured by any government deposit insurer, and are not guaranteed by Scotiabank or any other member of the Scotiabank Group. Mutual fund values change frequently and past performance may not be repeated. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund purchases.

Important information about each mutual fund is contained in its Simplified Prospectus, which you should read carefully before investing.

When you purchase mutual funds or other investments or services through or from Scotia Securities Inc., you are dealing with employees of Scotia Securities Inc. Scotiabank may also employ these individuals in the sale of other financial products and services. Activities conducted solely on behalf of Scotiabank are not the business or responsibility of Scotia Securities Inc.

SSI is committed to providing you with high quality advice and service intended to assist you in meeting your financial objectives. In order to do that, we must under securities regulations obtain information from you about your investment objectives, risk tolerance and financial circumstances. You need to promptly advise us if there are significant changes to any such information previously provided. Based on what you have told us, we provide investment advice and recommendations intended to help you achieve your investment goals. While we will provide you with advice and recommendations, you must make the decision on what actions are to be taken and provide your specific authorization for each investment transaction.

When you open a SSI account, you are expected to make full payment for purchases on or before the regular settlement date. Regular settlement date means the settlement date generally accepted according to industry practice for the relevant investment in the market in which the transaction occurs, specified in your trade confirmation. The normal settlement date is the following number of business days after the transaction date:

• Cash and GICs - Same day as the transaction takes place
• Money market/cash equivalent mutual funds and mutual fund switches within the same fund family - One business day after transaction date
• All other mutual funds - Three business days after the transaction date

SSI will not open accounts for non-residents of Canada or minors.