Mr. Pouya Zangeneh reports

SCOTIABANK LAUNCHES NEW NO FEE VISA CREDIT CARD FOR CANADIAN BUSINESS OWNERS WITH 1% CASH BACK ON EVERY PURCHASE

Bank of Nova Scotia (Scotiabank) has launched the new Scotia Momentum for business no-fee Visa card, underscoring its commitment to Canadian businesses. Built to simplify everyday spending, the no-fee credit card offers greater flexibility with cashback on every eligible purchase and additional fuel savings at Shell, helping small and mid-sized businesses get more value from their spending.

As the latest addition to Scotiabank's business banking offering, this new Visa credit card reflects the bank's efforts to deliver a more seamless banking experience for business owners by providing practical solutions that help them access credit, manage expenses, maximize rewards and grow their businesses.

"Small businesses are integral to Canada's economy, and they need banking solutions that work as hard as they do," said Pouya Zangeneh, senior vice-president, business banking, Scotiabank. "We're dedicated to helping businesses operate with confidence, optimize cash flow and invest in their growth for a stronger future. This launch reflects our continued focus on listening to our clients and delivering the support they need to succeed at every stage of their journey."

How the Scotia Momentum for business no-fee Visa card can benefit Canadian businesses:

• Get up to six cents per litre in value on fuel purchases at Shell;
• No annual fee for primary and supplementary cards;
• Earn 1-per-cent cashback on all eligible purchases with no limit;
• Cashback redemption any time, with a minimum $25 value, giving business owners flexibility to help manage expenses and cash flow;
• Download transactions to preferred accounting software with ScotiaOnline and track expenses and gain greater spending insights with Visa Spend Clarity;
• Access offers and discounts through Visa SavingsEdge;
• Includes mobile device insurance alongside purchase protection and extended warranty insurance coverage on eligible purchases.

Scotiabank supports Canadian businesses to start, build and grow through a connected suite of banking solutions and beyond-banking support, including specialized advice, financing, digital tools, tailored programs and trusted partnerships.

The Scotia Momentum for business no-fee Visa card expands Scotiabank's business banking credit card lineup and delivers features tailored to the needs of small businesses.

About Bank of Nova Scotia

Scotiabank's vision is to be its 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 April 30, 2026), Scotiabank is one of the largest banks in North America by assets and trades on the Toronto Stock Exchange (symbol: BNS) and New York Stock Exchange (symbol: BNS).