Mr. Meny Grauman reports

SCOTIABANK COMMENTS ON EXPECTED CONTRIBUTION FROM KEYCORP'S FIRST QUARTER EARNINGS

Bank of Nova Scotia's expected net income contribution from its ownership interest in KeyCorp will be approximately $77-million in Q2 2026. This contribution represents the bank's share of KeyCorp's Q1 2026 net income, includes acquisition-related and other accounting impacts, is net of the bank's associated funding costs and is reported on a one-month lag.

Adjusting for the amortization of acquired intangible assets of approximately $8-million, the bank's adjusted net income contribution from KeyCorp will be approximately $85-million.

Scotiabank will release its second quarter financial results and host an earnings conference call on May 27, 2026. Conference call and audio webcast details will be announced closer to that date.

About Bank of Nova Scotia

Scotiabank's vision is to be the bank's clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by its purpose: "for every future," Scotiabank helps its clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5-trillion (as at Jan. 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).

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