An anonymous director reports

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

The expected net income contribution from Bank of Nova Scotia's ownership interest in KeyCorp will be approximately $62-million in the second quarter of 2025. This contribution represents the bank's share of KeyCorp's Q1 2025 net income, includes acquisition-related and other accounting impacts, is net of the bank's associated financing costs, and is reported on a one-month lag.

Adjusting for the amortization of acquired intangible assets of approximately $9-million, the bank's adjusted net income contribution from KeyCorp will be approximately $71-million.

Scotiabank will release its second quarter financial results and host an earnings conference call on May 27, 2025. Conference call and audio webcast details will be announced closer to that date.

About Bank of Nova Scotia

Scotiabank's vision is to be its clients' most trusted financial partner, delivering 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. The bank has assets of approximately $1.4-trillion (as at Jan. 31, 2025).

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