Mr. Scott Thomson reports

SCOTIABANK SUPPORTS DEFENCE SECTOR THROUGH PARTNERSHIP TO ESTABLISH A NEW GLOBAL DEFENCE BANK

Bank of Nova Scotia has confirmed as a partner bank of the Defence, Security and Resilience Bank Development Group, supporting the establishment of the Defence, Security and Resilience Bank (DSRB).

The new international financial institution is being established to help North Atlantic Treaty Organization and allied partners deliver on commitments to increase defence, security and resilience investment over the coming decade. DSRB will provide governments with access to low-cost financing, procurement support and mechanisms to mobilize private capital through credit guarantee programs.

"Canada and its allies are making historic investments to help build a safer, more secure world," said Scott Thomson, chief executive officer and president, Scotiabank. "Scotiabank is committed to providing the capital, expertise and strategic advice to strengthen Canada's most critical sectors -- including defence, security and resilience -- as we foster sustainable economic growth across the markets we serve."

"Scotiabank's decision to engage as a partner bank shows how seriously leading financial institutions are taking the defence and security challenges," said Kevin Reed, chief operating officer and president of the DSRB Development Group. "The Defence, Security and Resilience Bank will be owned entirely by participating nations and built to work hand in hand with banks like Scotiabank to turn government commitments into affordable, long-term financing that strengthens industrial capacity and resilience."

Scotiabank joins a group of leading international financial institutions to support the creation of the DSRB.

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 the bank's purpose: for every future, it 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 Oct. 31, 2025), 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).