An important update for Scotia Group Jamaica Shareholders

As we announced on September 29, 2026, we have increased the purchase price under the proposed Scheme of Arrangement from JMD$61.50 to JMD$75.00 per stock unit. This increase in consideration is the only change to the terms of the Scheme. We look forward to seeing you at the SGJL Extraordinary General Meeting, which will be held on October 7, 2026, at 11:00 a.m. at the AC Hotel by Marriott, 38–42 Lady Musgrave Road, Kingston 5, St. Andrew.

If you have already submitted a proxy, please be assured that your vote will be treated in the same way as it was before the increase in consideration was announced. There is nothing further for you to do unless you would like to change how you voted or the name of your proxy. If you wish to do so, you may deliver a new proxy to one of the four (4) locations listed in the Scheme Booklet by 11:00 a.m. on October 5, 2026. If delivered by the deadline, your later proxy will replace the one previously submitted.

Your voice matters. Please register to attend the meeting at https://jm.scotiabank.com/about-scotiabank/investor-relations.html. We encourage you to attend the SGJL Extraordinary General Meeting at 11:00 a.m. on October 7, 2026, at the AC Hotel by Marriott, or to ensure that your proxy is submitted by the established deadline.

Payment information. To help ensure a smooth payment process, please take a moment to confirm that your payment mandate is up to date so that you can receive payment directly into your bank account. Jamaica is eliminating cheques, and cheques exceeding $1 million can no longer be processed. You may update your payment mandate by contacting your broker or the Registrar, Jamaica Central Securities Depository. If the Scheme is sanctioned and implemented, all minority stockholders will be paid JMD$75.00 per stock unit for their stock units under the Scheme. You may still elect to receive your consideration in United States dollars, as set out in the Scheme Booklet.

You may access information about the Scheme of Arrangement, download proxy forms and register to attend the EGM at https://jm.scotiabank.com/about-scotiabank/investor-relations.html.

If you have any questions, please contact the JCSD at jcdrs@jamstockex.com. We also invite you to join our virtual informational session on Thursday, October 1, at 6:00 p.m., when we will share more about the revised offer and answer questions about the next steps.