Scotia Latin American Fund Series A

1 SCOTIAFUNDSAs of November 30, 2018 Scotia Latin American fund - Series ASpecialty FundInvestment ObjectiveThe fund 's objective is long-term capital growth. Itinvests primarily in a broad range of high quality equitysecurities of companies in Latin for InvestingnSignificant macroeconomic improvements andfavourable demographics support the case forinvesting in emerging concentrated exposure to Latin Americanequity markets well positioned for future exposure to Latin American companiesmakes the fund a potential diversifier in a portfoliothat has a heavy weighting to developing Rating LOWMEDIUMHIGHTime Horizon LongFUND ESSENTIALSI nception DateOctober 16, Assets $ Initial Inv.($) Additional Inv.

2 ($) % (as of 12/31/2017) $ Latin America TR Net FreeIndex C$..SeriesLoad StructureCurrencyFundCodeANo LoadCADBNS364 FNo LoadCADBNS564 Portfolio Manager(s)Gabriela SoniGabriela SoniGabriela SoniGabriela Soni Scotia Gesti n de ActivosManagement1832 Asset Management & PORTFOLIO ANALYSISC ompound returns (%)1 Mth3 Mth6 Mth1 Yr2 Yr3 Yr5 Yr10 Year Returns (%) ($/unit)YTD20172016201520142013201220112 01020092008 Total Gains----------------------Growth of $10,000$0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 Oct-94 Nov-18 Composition (%) International Cap (%)Mega (>$16B) ($ - $16B) ($400M - $ ) ($100M - $400M) (<$100M) 10 Holdings% AssetsItau Unibanco Holding - Petroleo Bras - Bradesco Seguridade Participacoes SA Itau SA Brasil Bolsa Balcao Property Mexico SA de Bachoco-Ser Investimento 5 Sector Allocation (%) Allocation (%) States of Portfolio HoldingsStock Holdings33 Bond Holdings0 Other Holdings1 Total Number of Underlying Holdings34 SCOTIAFUNDSS cotia Latin American fund - Series ASpecialty FundMANAGER BIOG abriela SoniManager Since August 1, 2018 Scotia Gesti n de ActivosGabriela Soni, CFA is lead portfolio manager of theMexican based fundamental equity team.

3 She joined Scotiain 2013 as an equity and credit research analyst. Gabrielais also responsible to implement the equity strategy forinstitutional clients portfolios. Gabriela holds a Bachelor'sdegree in Public Accounting and Financial Strategy fromITAM, where she graduated with honors. She holds theChartered Financial Analyst designation since 2014. Registered trademarks of The Bank of Nova Scotia , used under are managed by 1832 Asset Management , 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.

4 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 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 MUTUAL fund INFORMATIONC ommissions, trailing commissions, management fees and expenses may be associated with mutual fund investments.

5 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 Asset Management , 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.

6 For further details, please refer to the Simplified Prospectus.