Investor Presentaiton

Statement of operations and change in accumulated operating surplus Year ended March 31, 2014 (in thousands of dollars) REVENUE Provincial Operating grant Strategic investment grant Loan valuation allowance grant Miscellaneous Interest on loans receivable Other Federal Investment income Gain on sale of tangible capital assets Budget (Unaudited) 2014 2013 $ $ $ 9,924 9,924 9,994 10,000 8,211 8,744 2,446 2,446 2,017 1,061 1,884 966 2,937 2,235 4,084 1,040 758 975 715 986 742 409 7,544 204 109 298 26 28,641 34,286 27,752 EXPENSES Operating expenses (Schedule 1) 12,345 12,947 11,888 Transfer payments to the Province of Nova Scotia 109 49 27 Strategic investments 10,000 8,211 8,744 Provision for credit losses and payment of guarantees 2,446 8,595 (2,934) Nova Scotia Business Fund: other expenses (Schedule 2) 3,372 2,751 4,500 28,272 32,553 22,225 Annual operating surplus 369 1,733 5,527 Accumulated operating surplus, beginning of year 25,329 25,329 19,802 ACCUMULATED OPERATING SURPLUS, END OF YEAR 25,698 27,062 25,329 Statement of remeasurement gains and losses Year ended March 31, 2014 (in thousands of dollars) Accumulated remeasurement losses, beginning of year Unrealized gains on portfolio investments ACCUMULATED REMEASUREMENT GAINS AND (LOSSES), END OF YEAR The accompanying notes to the financial statements are an integral part of this financial statement. 2014 2013 $ $ 1,168 (1,540) (1,168) 2,708 1,168

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