Ms. Meigan Terry reports

SCOTIA GROWTH INSTITUTE APPOINTS PETER TERTZAKIAN AS STRATEGIC ADVISOR

Bank of Nova Scotia's The Scotia Growth Institute has appointed Peter Tertzakian as a strategic adviser.

"Peter is one of Canada's most respected energy economists who combines data and AI, and deep industry knowledge, with thoughtful analysis of the dynamics affecting the energy sector," said Meigan Terry, executive vice-president and chief global corporate and public affairs officer, Scotiabank. "Peter's expertise will be invaluable as the Scotia Growth Institute advances data-driven insights on the opportunities and challenges shaping Canada's future prosperity."

Mr. Tertzakian is a leading energy economist with more than three decades of experience advising key stakeholders across Canada and globally. He currently works at Studio.Energy, a research and advisory firm he founded, dedicated to helping policymakers, industry leaders and investors make decisions in the business of energy with trusted, timely knowledge. Previously, he helped shape industry dialogue through the ARC Energy Research Institute, which he founded to examine the forces transforming global energy markets. He has advised governments and industry leaders through numerous panels and currently serves on the government of Canada's Generation Energy Council. Mr. Tertzakian is also the best-selling author of A Thousand Barrels a Second and The End of Energy Obesity.

"Canada is an energy superpower, and our long-term prosperity depends on unlocking the full potential of this critical sector," said Mr. Tertzakian. "I am pleased to join the Scotia Growth Institute to further examine how Canada can leverage its natural resource strengths to attract investment, foster innovation and support the industries powering our future."

Mr. Tertzakian joins the Scotia Growth Institute alongside Ambassador Kristen Hillman, who serves as lead strategic adviser.

He holds a master of science in management of technology from the Sloan School of Management at the Massachusetts Institute of Technology (MIT), a graduate degree in econometrics from the University of Southampton and a bachelor of science in geophysics from the University of Alberta.

The latest analysis from the Scotia Growth Institute provides readers with a bottom-up analysis of Canada's critical minerals and mining project inventory, including Major Projects Office-referred initiatives. By establishing a baseline of the country's vast geological endowment and mapping its processing capabilities, the report evaluates the future execution implications amid Canada's renewed pursuit of resource development.

The Scotia Growth Institute is a new platform dedicated to supporting key stakeholders in advancing long-term economic growth and competitiveness in Canada and across North America. It draws on Scotiabank's expertise, insights, and partner and client perspectives from high-growth sectors to guide policymakers, business leaders and markets in making decisions about Canada's long-term competitiveness, and to bring greater focus to the economic choices ahead.

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 July 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).