SCOTIAFUNDS As of July 31, 2018

Scotia Selected Balanced Growth Portfolio - Series AGlobal Neutral Balanced

Investment ObjectiveThe portfolio's objective is to achieve a balance ofcurrent income and long-term capital appreciation, witha small bias towards capital appreciation. It investsprimarily in a diversified mix of equity and incomemutual funds managed by us and by other mutual fundmanagers.

Reasons for Investing■ Invests in a mix of ScotiaFunds diversified by asset

class, geographic region, economic sector andinvestment style, aiming to maximize returns whilemanaging risk.

■ Rigorous portfolio construction by an experiencedteam combined with regular monitoring and dailycash flow rebalancing help to ensure each portfoliostays on track.

■ From creating the optimal asset mix and selectingfunds, to their monitoring and rebalancing, eachportfolio delivers convenience and simplicity.

Risk Rating

»LOW MEDIUM HIGH

Time Horizon — Medium-Long

FUND ESSENTIALS

Inception Date April 28, 2003...............................Total Assets $mil 1,862.12...................................Min. Initial Inv.($) 500..........................................Min. Additional Inv.($) 25.....................................Income Distribution Annually................................Capital Distribution Annually................................MER % (as of 12/31/2017) 1.99...........................NAV $ 16.44........................................................

Benchmark

45% FTSE TMX Canada UniverseBond Index, 27% S&P/TSX

Composite Index, 28% MSCI WorldIndex....................................................

Series Load Structure Currency FundCode

A No Load CAD BNS341

F No Load CAD BNS541

Adv* Deferred Sales CAD BNS941

Adv* Front End CAD BNS741

Adv* Low Load CAD BNS841

* All advisor series funds are closed to new investment effective June25, 2015.

PERFORMANCE & PORTFOLIO ANALYSIS

Compound returns (%) 1 Mth 3 Mth 6 Mth 1 Yr 2 Yr 3 Yr 5 Yr 10 Yr

Fund 0.86 2.56 0.97 5.68 5.21 4.03 6.70 4.84

Calendar Year Returns (%) YTD 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

Fund 1.88 7.61 4.27 4.94 9.04 12.71 6.65 -2.37 7.46 16.49 -18.82

Distributions ($/unit) YTD 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

Total Distributions -- 0.09 0.70 0.21 0.66 0.06 0.11 0.09 0.09 0.10 0.15Interest -- -- -- -- -- 0.06 0.02 -- -- 0.02 0.05Dividends -- 0.06 0.06 0.11 0.10 -- 0.09 0.09 0.09 0.08 0.10Capital Gains -- 0.03 0.64 0.11 0.56 -- -- -- -- -- --

Growth of $10,000

$10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000

Apr-03 Jul-18

Composition (%)

� Fixed Income 45.0...........................

� Canadian Equity 25.0......................

� Foreign Equity 30.0.........................

Portfolio Holdings % Assets

Fixed Income 45.00Dynamic Total Return Bond Fund 15.75.........................................Scotia Canadian Income Fund 11.25..............................................Scotia Private Canadian Corporate Bond Pool 9.00.........................Dynamic Canadian Bond Fund 6.75................................................Dynamic High Yield Bond Fund 2.25...............................................

Canadian Equity 25.00Scotia Canadian Dividend Fund 11.25............................................Dynamic Dividend Advantage Fund 7.50........................................Dynamic Small Business Fund 5.00.................................................Scotia Canadian Growth Fund 1.25................................................

Foreign Equity 30.00Scotia Global Dividend Fund 10.00.................................................Scotia Global Growth Fund 10.00...................................................Scotia Global Opportunities Fund 6.00...........................................Scotia Global Small Cap Fund 2.00.................................................Dynamic Power Global Growth Class 2.00......................................

Allocations (%)

Canadian EquityIncome Focused Equity 18.8Income-Focused Small Cap Equity 5.0Core Equity 1.3

Fixed IncomeCore Fixed Income 27.0Tactical Fixed Income 15.8High Yield Fixed Income 2.3

Foreign EquityCore Equity 18.0Income-Focused Equity 10.0Small Cap Equity 2.0

Total Portfolio HoldingsEquity Funds 9Fixed Income Funds 5Other Funds 0Total Number of Mutual Funds 14

SCOTIAFUNDS

Scotia Selected Balanced Growth Portfolio - Series AGlobal Neutral Balanced

MANAGER BIO

Judith ChanManager Since October 1, 20121832 Asset Management L.P.

Judith Chan is Director, Portfolio Solutions - CanadianBanking at 1832 Asset Management L.P. With more than10 years in the investment industry, she currently managesall Scotia Portfolios which encompasses asset allocation,fund selection, fund due diligence, and the day-to-daymanagement of all portfolios. In her previous role as SeniorManager, Investment Oversight, Judith was responsible forthe oversight of all investment products offered through1832 Asset Management L.P., which involved performancemonitoring, portfolio advisor due diligence and competitivefund positioning. Judith has a Bachelor of Economics fromSimon Fraser University in Vancouver British Columbia, andhas been a CFA Charterholder since 2006.

Management 1832 Asset Management L.P.................Telephone 1-800-268-9269........................................Website www.scotiafunds.com....................................

® Registered trademarks of The Bank of Nova Scotia, used under licence.

ScotiaFunds® are managed by 1832 Asset Management L.P., a limited partnership the general partner of which is wholly owned by The Bank of Nova Scotia. ScotiaFunds are availablethrough Scotia Securities Inc. and from other dealers and advisors, including ScotiaMcLeod® and Scotia iTRADE® which are divisions of Scotia Capital Inc. Scotia Securities Inc. and ScotiaCapital Inc. are wholly owned by The Bank of Nova Scotia. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization ofCanada.

Fund prices are provided for information purposes only. All information pertains to Series A units of the fund unless stated otherwise. Units of the fund are only available for sale to residents ofCanada, unless the laws of a foreign jurisdiction permit sales to its residents. Please contact your financial advisor for more details. The contents of this document should not be considered anoffer to sell to, or a solicitation to buy mutual fund units from, any person in a jurisdiction where such offer or solicitation is considered unlawful.

IMPORTANT MUTUAL FUND INFORMATION

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus beforeinvesting. Mutual funds are not guaranteed or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, theirvalues change frequently and past performance may not be repeated. The indicated rates of return are the historical annual compounded total returnsincluding changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges orincomes taxes payable by any security holder that would have reduced returns.1832 Asset Management L.P., as Manager of the ScotiaFunds, may compensate its staff and any appointed sub-distributor by regular payments based on the net asset value (NAV) of unitsheld by investors. For further details, please refer to the Simplified Prospectus.