Extraordinary General Meeting update

October 23, 2026

Dear Valued Shareholder,

On behalf of the Board of Directors and the entire Scotia Group Jamaica Limited (SGJL) team, I extend my sincere appreciation to you for your attendance and participation in our Extraordinary General Meeting on October 7, and for your strong support in favour of the resolution to approve the proposed transaction. This approval represents an important milestone in Scotia’s history in Jamaica.

Next Steps for SGJL

The Scheme is subject to the Court’s sanction and other customary closing conditions, and we will keep you updated on developments relating to these steps.

Important Information Regarding Payment

We encourage you to take the following steps to help ensure the timely receipt of your payment, if the Scheme becomes effective:

• Confirm that your payment  instructions are  accurate and up to date. This will help to ensure that your payment is processed promptly. If you currently receive your dividend payments by cheque, we recommend that you submit your bank account instructions to the Jamaica Central Securities Depository Limited (JCSD) to enable you to receive your payment by direct deposit to your bank account.   Please contact the JCSD by telephone or email for further information. Your updated  payment instructions  must be delivered to the JCSD, the Registrar for SGJL.
• Election to receive payment in United States currency. As you know, the Scheme provides that you may elect to receive the consideration payable to you in United States dollars by completing a Currency Election Form with the details of your USD bank account. This USD account may be in Jamaica or overseas. The Currency Election Form is available on the Investor Relations page of our website (https://jm.scotiabank.com/about-scotiabank/investor-relations.html). Your duly signed and completed Currency Election Form must be delivered to SGJL by courier or hand delivery to Scotia Group Jamaica Limited, Office of the Secretary of the Company, Scotiabank Centre, Corner Duke and Port Royal Streets, Kingston, Jamaica, or to one of the Scotiabank Jamaica branches listed in the Scheme Documents, no later than 2:00 p.m. on the date of the Final Court Hearing. As set out in the Scheme Documents, it is anticipated that the Final Court Hearing will take place on October 30, 2026.

Continued Investment Relationship

Importantly, while SGJL’s ownership structure may be changing, we hope that your investment journey with Scotia will continue. Shareholders are reminded that our team at Scotia Investments is available to discuss investment opportunities that meet your individual financial goals and aspirations, including opportunities to invest in our ultimate parent company, The Bank of Nova Scotia, which is publicly traded on both the Toronto Stock Exchange and the New York Stock Exchange.

You may contact a Scotia Investments team member at investmentsupport@scotiabank.com.

As we look ahead, we remain focused on strengthening our business, enhancing the experience we deliver to our clients, and continuing to make a meaningful contribution to Jamaica’s development. While this transaction represents a new chapter for our business, our commitment to Jamaica, our clients and employees, and the communities we serve is stronger than ever.

Sincerely,

Audrey Tugwell Henry
President and Chief Executive Officer
Scotia Group Jamaica Limited