Ms. Heather Armstrong reports

SCOTIABANK CLOSES PREVIOUSLY ANNOUNCED transaCTION TO FULLY ACQUIRE SCOTIA GROUP JAMAICA LIMITED

Bank of Nova Scotia has successfully completed its previously announced acquisition of all of the outstanding ordinary shares of Scotia Group Jamaica Limited (SGJL) that it did not already own pursuant to a court-approved scheme of arrangement, effective as of Oct. 30, 2026.

The transaction is part of Scotiabank's strategy to optimize capital and operational efficiency across its existing footprint.

Following completion of the transaction, the SGJL shares are expected to be delisted from the Jamaica Stock Exchange.

The total cash consideration being paid to minority shareholders is approximately $600-million and the CET1 ratio impact is estimated to be approximately eight basis points.

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