Mr. Travis Machen reports

SCOTIABANK TO ACQUIRE MAPLEMARK BANK TO SUPPORT STRATEGIC GROWTH IN GLOBAL BANKING AND MARKETS BUSINESS

Bank of Nova Scotia has entered into a definitive agreement to acquire Maple Financial Holdings, Inc. (parent company to MapleMark Bank). MapleMark Bank is a U.S. commercial bank with operations primarily in Dallas, Tex.

"Our acquisition of MapleMark Bank allows Scotiabank to offer FDIC deposit insurance to our clients, which is important for our mortgage capital markets business and our deposit growth strategy. MapleMark Bank is a well-run bank primarily operating in Dallas, Tex., and further supports our strategic focus within the North American corridor," said Travis Machen, chief executive officer and group head, global banking and markets, Scotiabank.

The transaction is subject to customary closing conditions and receipt of regulatory approvals and is not expected to have a material impact on Scotiabank's earnings or CET-1 ratio.

About Bank of Nova Scotia

With assets of approximately $1.5-trillion (as at April 30, 2026), Scotiabank is one of the largest banks in North America by assets.

Additional information about the transaction and where to find it

In connection with the transaction, Bank of Nova Scotia (BNS) intends to file a registration statement on Form F-4 with the U.S. Securities and Exchange Commission. Shareholders will be able to obtain a free copy of the definitive prospectus, as well as other filings containing information on BNS and Maple, without charge, at the SEC's website. Copies of the prospectus and the filings with the SEC that will be incorporated by reference in the prospectus can also be obtained, without charge, by directing a request to Bank of Nova Scotia in Toronto or Maple Financial Holdings in Dallas.

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