Mr. Amit Brahme reports

SCOTIA WEALTH MANAGEMENT ENTERS AN ARRANGEMENT WITH SBI CANADA BANK TO OFFER WEALTH MANAGEMENT SERVICES TO SBI CANADA'S HIGH-NET-WORTH CLIENTS

Scotia Wealth Management, part of the Bank of Nova Scotia group of companies, and SBI Canada Bank, a wholly owned subsidiary of State Bank of India, have entered a referral relationship arrangement. Through this arrangement, high-net-worth clients of SBI Canada will benefit from the opportunity to access Scotia Wealth Management solutions. SBI Canada currently offers full-service retail, commercial and corporate banking services to clients in Canada.

"We share a similar approach with SBI Canada, putting our clients at the centre of what we do. SBI Canada has a legacy of building trust within the Indian community in Canada, and we are excited to work together to solve their clients' complex wealth needs," said Amit Brahme, vice-president, strategic cultural segments, Scotia Wealth Management. "Through our total wealth approach, our team of specialists provide comprehensive wealth advice that addresses all stages of clients' lives."

"At SBI Canada, our focus has always been on building long-term, trusted relationships with clients and supporting their financial goals across borders," said Manish Mishra, president and chief executive officer, SBI Canada. "Partnering with Scotia Wealth Management allows us to extend that commitment by providing our high-net-worth clients with access to comprehensive, world-class wealth management capabilities in Canada. Together, we are well positioned to deliver integrated solutions that address clients' evolving needs."

The arrangement positions both SBI Canada and Scotia Wealth Management to deliver more coverage for clients locally in Canada while supporting their financial needs. Scotia Wealth Management will offer advisory and investment management services through Scotia Jarislowsky Fraser and ScotiaMcLeod, and private banking services through Scotiabank's private banking group.

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," the bank 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).

About SBI Canada Bank

SBI Canada Bank was incorporated in 1982 as a wholly owned subsidiary of the State Bank of India, India's largest bank, serving more than 520 million customers with total business exceeding $1.15-trillion (U.S.). SBI Canada Bank is a Schedule II Canadian bank listed under the bank act and is a member of Canada Deposit Insurance Corp. The bank has offices and branches located in Ontario, British Columbia and Alberta. SBI Canada Bank provides full-service banking to meet the needs of retail and commercial clients across Canada.