FUND FACTS

1832 Asset Management L.P.

Scotia U.S. $ Money Market Fund - Series M May 31, 2024
This document contains key information you should know about Scotia U.S. $ Money Market Fund (the "Fund"). You can find more detailed information in the Fund's
simplified prospectus. Ask your representative for a copy, contact 1832 Asset Management L.P. at 1-800-268-9269, fundinfo@scotiabank.com, or visit
www.scotiafunds.com.
Before you invest in any fund, consider how the fund would work with your other investments and your tolerance for risk.

Quick Facts
Date series started: November 22, 2016 Fund Manager: 1832 Asset Management L.P.
Total value of Fund on April 30, 2024: 127,606,997 (U.S.) Portfolio Manager: 1832 Asset Management L.P.
Management expense ratio (MER): 0.10% Minimum investment: $500 (U.S.) initial

What does the Fund invest in?

The Fund invests primarily in treasury bills and other money market instruments that are denominated in U.S. dollars and are issued by Canadian federal,
provincial and municipal governments and corporations, and by supranational entities, such as the World Bank.

The charts below provide you with a snapshot of the Fund's investments on April 30, 2024. The Fund’s investments will change.
Top 10 investments (April 30, 2024) Investment mix (April 30, 2024)
1. Cash and Cash Equivalents 39.4% 39.4% Cash
2. Farm Credit Canada 0.00% May 01, 2024 9.7%
23.6% Commercial Paper
3. Province of Quebec 0.00% May 02, 2024 6.1%
15.6% Corporate Bonds
4. Province of Quebec 0.00% May 14, 2024 5.5%
12.2% Promissory Notes
5. Bank of Montreal 0.00% Sep 03, 2024 3.3%
6. Toronto-Dominion Bank, The 2.65% Jun 12, 2024 3.1% 3.7% Bearers' Deposit Notes
7. OMERS Finance Trust 0.00% May 06, 2024 2.8% 2.5% Supranational Bonds
8. Walmart Inc. (Callable) 2.65% Dec 15, 2024 2.8% 1.9% Other Net Assets
9. International Bank for Reconstruction & Development 1.63% (Liabilities)
Jan 15, 2025 2.5% 1.1% Provincial Bonds
10. Royal Bank of Canada 2.55% Jul 16, 2024 2.5%
Total percentage of top 10 investments: 77.7%
Total number of investments: 30

How risky is it? Risk rating

1832 Asset Management L.P. has rated this Fund’s risk to be low.
The value of the Fund can go down as well as up. You could lose money.
This rating considers how much the Fund’s returns have changed from
One way to gauge risk is to look at how much a fund’s returns change year to year. It doesn’t tell you how volatile the Fund will be in the future.
over time. This is called “volatility”. The rating can change over time. A fund with a low risk rating can still lose
In general, funds with higher volatility will have returns that change more money.
over time. They typically have a greater chance of losing money and may
have a greater chance of higher returns. Funds with lower volatility tend to Low Low to Medium Medium to High
have returns that change less over time. They typically have lower returns Medium High
and may have a lower chance of losing money.

For more information about the risk rating and specific risks that can affect
the Fund’s returns, see the Risk section in the Fund’s simplified prospectus.
No guarantees
Like most mutual funds, this Fund doesn't have any guarantees. You may
not get back the amount of money you invest.

How has the Fund performed?

This section tells you how the Series M units of the Fund have performed over the past 7 years. Returns are after expenses have been deducted. These
expenses reduce the Fund's return.
 Scotia U.S. $ Money Market Fund - Series M

Year-by-year returns
This chart shows how the Series M units of the Fund have performed in 20%
each of the past 7 calendar years. The Fund dropped in value in 0 of the
15%
7 years. The range of returns and change from year to year can help
you assess how risky the Fund has been in the past. It does not tell you 10%
5.1
5% 3.1 2.1 2.4
how the Fund will perform in the future. 0.7 0.1 1.5
0%
-5%
-10%
-15%
-20%
2017 2018 2019 2020 2021 2022 2023

Best and worst 3-month returns

This table shows the best and worst returns for the Series M units of the Fund in a 3-month period over the past 7 years. The best and worst 3-month
returns could be higher or lower in the future. Consider how much of a loss you could afford to take in a short period of time.

Return 3 months ending If you invested $1,000 at the beginning of the period

Best return 1.4% January 31, 2024 Your investment would rise to $1,014

Worst return 0.0% October 31, 2021 Your investment would rise to $1,000

Average return
A person who invested $1,000 in Series M units of the Fund since its inception now has $1,159. This works out to an annual compound return of 2.0%.

Who is this Fund for? A word about tax

Investors who: In general, you'll have to pay income tax on any money you make on a
• want interest income and liquidity fund. How much you pay depends on the tax laws where you live and
• want exposure to the U.S. dollar whether or not you hold the fund in a registered plan, such as a
• are looking to preserve capital Registered Retirement Savings Plan or a Tax-Free Savings Account.
• invest for the short term
Keep in mind that if you hold your fund in a non-registered account,
Series M units are available to investors who have signed a fund distributions are included in your taxable income, whether you get
discretionary investment management agreement with 1832 Asset them in cash or have them reinvested.
Management L.P. in connection with its Private Investment Counsel
service.
You must use U.S. dollars to buy this fund.

How much does it cost?

The following tables show the fees and expenses you could pay to buy, own and sell Series M units of the Fund. The fees and expenses, including any
commissions, can vary among series of the Fund and among funds. Higher commissions can influence representatives to recommend one investment over
another. Ask about other funds and investments that may be suitable for you at a lower cost.
1. Sales charges
Series M units of this Fund are classified as 'no-load', meaning you can buy, switch or sell units of the fund without paying a sales charge.
 Scotia U.S. $ Money Market Fund - Series M

2. Fund expenses
You do not pay these expenses directly. They affect you because they reduce the returns of the Series M units of the Fund.
As of December 31, 2023, Series M units of the Fund's expenses were 0.10% of its value, which equals $1.00 for every $1,000 invested.

Annual rate
(as a % of the Fund's value)
Management expense ratio (MER)
This is the total of the Series M units of the Fund's management fees and operating
expenses (including fund costs). 0.10%
Trading expense ratio (TER)
These are the Fund’s trading costs. 0.00%
Fund expenses 0.10%

More about the trailing commission

No trailing commissions are applicable to the Series M units of the Fund.
3. Other fees
You may have to pay other fees when you buy, hold, sell or switch units of the Fund.
Fee What you pay
• Registered plan fee If you invest through a Registered Plan, a withdrawal fee and/or transfer fee may apply. Contact your
broker or dealer to determine if any such fees are applicable.
• Service/Program fee Series M units are available to investors who have signed a discretionary investment management
agreement with 1832 Asset Management L.P. in connection with its Private Investment Counsel service.
You may pay a fee directly to 1832 Asset Management L.P. for the services offered under that
agreement.

What if I change my mind? For more information

Under securities law in some provinces and territories, you have the Contact 1832 Asset Management L.P. or your representative for a
right to: copy of the Fund's simplified prospectus and other disclosure
• withdraw from an agreement to buy units of the Fund within two documents. These documents and the Fund Facts make up the
business days after you receive a copy of the Fund's simplified Fund's legal documents.
prospectus or Fund Facts document, or
1832 Asset Management L.P.
• cancel your purchase within 48 hours after you receive confirmation 40 Temperance Street
of the purchase. 16th Floor
In some provinces and territories, you also have the right to cancel a Toronto, Ontario, M5H 0B4
purchase, or in some jurisdictions, claim damages, if the simplified
prospectus, Fund Facts document or financial statements contain a
misrepresentation. You must act within the time limit set by the Toll Free: 1-800-268-9269
securities law in your province or territory. E-mail: fundinfo@scotiabank.com
For more information, see the securities law of your province or territory Website: www.scotiafunds.com
or ask a lawyer. To learn more about investing in mutual funds, see the brochure
Understanding mutual funds, which is available on the website
of the Canadian Securities Administrators at
www.securities-administrators.ca.

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