Scotia Group Jamaica Limited (SGJ) Quarterly Financial Statements Q2/2026 And Declaration of Dividend Payment

1 ME DIA RELEASE June 11 , 2026 SCOTIA GROUP JAMAICA REPORTS SECOND QUARTER OF FISCAL 202 6 RESULTS Scotia Group reports net income of $10.1 billion for the half year ending April 30, 2026. The Group continues to deliver strong results, with it’s asset base expanding by $80.3 billion or 10.5% to $843.9 billion. Aligning wi t h our objective to return value to our shareholders, the Board of Directors has approved a dividend of 45 cents per stock unit in respect of the second quarter, which is payable on July 23 , 2 02 6 , to stockholders on record as at July 1, 2026 . Business Performance In reference to the Group’s performance, President and CEO, Audrey Tugwell Henry said "We delivered a solid performance during the quarter, reflecting the strength of our strategy, the resilience of our team, and the continued confidence of our clients. Wh ile we are pleased with the Group’s financial results, we remain equally focused on the role we play in supporting the communities we serve. Through the work of the Scotia Foundation, our employee volunteers, and strategic partnerships, we continue to supp ort recovery and rebuilding efforts in communities impacted by Hurricane Melissa, particularly across W estern Jamaica. As an institution deeply rooted in Jamaica, we remain committed to creating lasting economic and social impact.” Total revenues (excluding credit losses) of $ 37.1 billion, reflected a n 11.1 % increase over prior year. Total deposits increased to $ 571.8 billion, reflecting a year - over - year growth of 11. 9 %, signaling sustained client confidence in the Group. Furthermore, our Scotia Plan Loan portfolio expanded by 1 5 %, while our mortgage portfolio recorded growth of 19 % over the previous year, demonstrating our strength in meeting our client need s to finance the acquisition of key assets. The Commercial segment continues to advance on our strategic objective to grow primary client relationships. This approach has delivered steady growth in deposits, which increased by 1 4 % year - over - year, underpinned by rising transaction volumes through our secure digital channels. Additionally, our commercial loan growth of 1 5% year - over - year reflects our ongoing s upport for the business sector, with capital deployed to facilitate investments in the productive economy. Scotia Investments Jamaica Limited (SIJL) saw a 10 % increase year over year in A ssets under M anagement . S cotia Jamaica Life Insurance Company (SJLIC) reported an increase in Gross Written Premiums of 8 % over the previous year. Scotia General Insurance Agency (SGIA) also performed well with Gross Written Premiums increasing by 5 4 % and policy sales increasing by 5 2 % year over year.

2 Awards and Recognitions During the period , we are proud of the following achievements: • Best Private Bank Awards 2026 - Caribbean and Central America – Regional Winners – Scotia Wealth Management • World’s Best Bank Awards 2026 - Latin America Regional Winners – Caribbean Scotiabank • Euromoney Private Banking Awards 2026 - Best International Private Bank – Scotia Wealth Management These recognitions reinforce our commitment to the Caribbean and to supporting our clients throughout their entire financial journey. Environmental, Social and Governance During the February to April 2026 quarter, Scotia Group Jamaica strengthened its commitment to community resilience, youth development, women’s empowerment, and environmental sustainability through several impactful social initiatives, particularly in W estern Jamaica following Hurricane Melissa. A major highlight was the launch of the “ Teach to Transform ” project at Haile Selassie High School in partnership with the Multicare Youth Foundation, aimed at improving literacy, life skills, and student developmen t outcomes. Scotiabank also reiterated its support to small and medium sized businesses (SMEs) through the 2026 installation of Scotia Vision Achiever, a programme that provides 25 lucky entrepreneurs with international business coaching and the opportunity to win a share of $3 million. Scotiabank supported initiatives for young women and led environmental restoration activities through seedling distribution and employee volunteerism. These efforts reflect the Group’s ongoing commitment to creating positive long - term social and economic impact across Jamaica. As part of our continued thrust towards financial inclusion, we introduced audio guidance at over 280 of our ABMs, (Automated Banking Machine) a feature designed to meet the needs of the hearing impaired as well as individuals with literacy challenges. Add itionally, during the period we began the islandwide rollout of a modernized fleet of ABMs. In total, 128 new machines are being deployed before year end. We are satisfied with our performance during the second quarter as well as our continued drive to uplift individuals and organizations and remain confident in the opportunities ahead. We express our heartfelt thanks to our dedicated team, loyal clients, and shareholders for their unwavering confidence, partnership, and continued support. President and CEO of Scotia Group, Audrey Tugwell Henry (centre) and former Chairperson Anya Schnoor are joined by beneficiaries of the UWI Toronto Gala Scholarship Programme at Scotia Group’s recent Annual General Meeting. Scotiabank is investing CAD$500, 000 over 5 years in the initiative, which provides financial support to students pursuing studies at the undergraduate and graduate levels at the regional institution.

3 S OCIAL IMPACT INITIATIVES February 2026 – April 2026 Scotia Group Jamaica continued to deepen its commitment to national development and community resilience during the period February to April 2026 through a series of impactful initiatives focused on youth empowerment, education, women’s development, enviro nmental sustainability, and disaster recovery support. Many of the activities undertaken during the reporting period were concentrated in Western Jamaica and aligned with Scotia Group’s b roader commitment to invest $1 65 million during FY26 in rebuilding , and strengthening communities impacted by Hurricane Melissa. Empowering Women and Girls Scotiabank Women Initiative continues to be a preferred vehicle by women business owners and leaders across our SME, C orporate and C ommercial client base. In addition to accessing capital for business recovery , expansion, and operational initiatives , 60 of our clients participated in seminars, workshops, and networking opportunities during the quarter. These events covered topics such as change management, decision making, embedding sustainability in strategic planning, and leveraging technology to improve business resilience. In the lead - up to International Women’s Day, Scotia Group supported the Women of Vision: A Visionary Salon hosted by Plié for the Arts at the Jamaica Pegasus Hotel. The event featured acclaimed actress and cultural icon Phylicia Rashad alongside a distinguished panel of Jamaican female leaders, including Audrey Tugwell Henry. Scotia Group’s sponsorship enabled high school and tertiary - level female students to attend the event and engage directly with inspirational women leaders from business, culture, and p ublic life. The Scotia Foundation also commemorated International Women’s Day through a targeted empowerment workshop for students of the Women’s Centre in Western Jamaica. Forty young women participated in a development session designed to strengthen confidence, pers onal presentation, and financial awareness. Audrey Tugwell Henry, Chair of the Scotia Foundation and President and CEO of Scotia Group shares lens time with students and faculty of her alma mater Church Teachers College during the Scotiabank sponsored Women of Impact event. Image Consultant Althea Laing, shares formal dining tips with an attentive group of young ladies from the Women’s Centre Foundation of Jamaica during an International Women’s Day Workshop hosted in their honour at Hotel Grand A View in Montego Bay.

4 Education and Youth Development In March, the Scotia Foundation officially launched the “ Teach to Transform ” project at Haile Selassie High School in partnership with the Multicare Youth Foundation . The initiative is designed to strengthen literacy, life skills, and student development among at - risk youth while supporting teachers with additional resources and training opportunities. The programme launch brought together representatives from the education sector, community partners, and Scotia Group leadership to formally commence the year - long intervention. Forty students and six teachers are expected to benefit directly from the programme . The project underscores Scotia Group’s continued investment in education as a driver of national development and social mobility. Environmental Sustainability and Community Resilience Environmental restoration and climate resilience were also major areas of focus during the reporting period as Scotia Group expanded its support for post - Hurricane Melissa recovery. In April, Scotia Group distributed 1,500 fruit tree seedlings to clients across branches in St James as part of ongoing efforts to support food security, environmental restoration, and sustainable community rebuilding. The initiative complemented national reforestation activities being implemented under the Forestry Department’s RE - LEAF programme, which aims to restore landscapes damaged by Hurricane Melissa through the planting of hundreds of thousands of seedlings across the island. Scotiabankers also demonstrated strong volunteerism and environmental stewardship through participation in a large - scale tree planting exercise in Lowe River, Trelawny. More than 80 volunteers from across Scotia Group partnered with the Forestry Department to plant 300 cedar and mahogany seedlings as part of our continued support of the RE - LEAF programme . Our second quarter highlighted our continued commitment to meaningful social investment through initiatives that empower women and youth, strengthen education, and support environmental recovery efforts. Through strategic partnerships, employee volunteerism, and the work of the Scotia Foundation, the Group continued to create opportunities for uplift ment and resilience, particularly in communities impacted by Hurricane Melissa . More than 80 volunteers from across Scotia Group planted cedar and mahogany seedlings in Lowe River, Trelawny as part of activities to mark Earth Day. Public Affairs and Communications Manager at Scotia Group, Deleen Powell (right) speaks with (l - r) Executive Director of the Multicare Youth Foundation, Mitzian Turner, Mandy Melville, Founder of the Creative Language Based Learning Foundation and students of Haile Selassie High following the launch of the programme at the school.

5 GROUP FINANCIAL PERFORMANCE TOTAL REVENUES Total revenues excluding expected credit losses for the six months end ed April 30 , 202 6 , grew by $ 3 .7 billion to $ 3 7.1 billion reflecting an increase of 11.1 % over the pr evious year. This was primarily driven by the strong growth in our loan portfolio , resulting in an increase in net interest income of $ 2. 5 billion or 10. 3 % coupled with an increase in other revenue of 11.6 %. OTHER REVENUE Other income, defined as all revenue other than interest income, increased by $ 1.2 b illion or 11.6 %. • Net fee and commission income for the period amounted to $ 5 b illion , reflecting an increase of $ 1.1 b illion or 2 6.6 % , driven primarily by a reduction in card expenses . • Net insurance revenue de creased by $ 1 55.9 million or 8 . 4 %, driven by lowe r contractual service margin releases . • N et gains on financial assets amounted to $ 249.7 million, reflecting a year - over - year reduction of $ 38.3 million or 1 3. 3 % , given lower fair value gains on investment securities carried at fair value through profit and loss. • O ther revenue increased by $ 3 58.2 million or over 100% , given insurance proceeds received in relation to Hurricane Melissa as well as higher realized gain s on sale of fixed assets. OPERATING EXPENSES Operating expenses totaled $ 20. 1 billion as at April 2026 and reflected an increase of $ 2 billion or 1 1 . 4 % when compared to the prior period . Of note, annual asset taxes recorded during the period t otaled $1. 8 billion, an increase over 202 5 of $ 10 2.9 million or 6 .1 %. Additionally, higher transaction costs as well as our continued investments in technology have contributed to the increase noted in other operating expenses. The Group continues to expand on our digital capabilities geared towards simplifying and streamlining our processes to make it easier for our clients to do business with us.

6 CREDIT QUALITY The Group's credit quality remains strong with no material changes year over year in total non - accrual loans (NALs). Non - accrual loans (NALs) as at April 2026 totaled $ 5 billion compared to $ 4 . 8 billion as at April 2025 . The Group’s NALs represent 1. 3 % of gross loans ( April 2025 – 1. 4 %) and 0. 6 % of total assets ( April 202 5 – 0. 6 %). Of note, the Group’s NALs as a percentage of gross loans continue to be below the industry average, March 2026 – 2. 3 %. The Group’s accumulated credit loss provisions (ACLs) for loans as at April 2026 was $ 6. 0 billion, representing 1 1 8.8 % coverage of total non - performing loans. GROUP FINANCIAL CONDITION ASSETS The Group’s asset base grew by $ 80.3 billion or 10 . 5 % to $ 8 43.9 billion as at April 2026 . This was predominantly as a result of the significant growth in our loan portfolio of $ 54.4 billion or 1 6.8 % , higher cash resources held up $ 2 0. 1 billion or 10.3 % , higher sundry assets of $ 4.7 billion or 81.5% and higher r etirement benefit asset $880.1 million or 2.4%. Cash Resources Our cash resources held to meet statutory reserves and the Group’s prudential liquidity targets stood at $ 2 1 5.2 billion and reflected a year - over - year increase of $ 2 0.1 billion or 10.3 % , driven by strong growth in deposits. The Group maintains a strong liquidity position, which enables us to respond effectively to changes in our cash flow requirements. Loans Our loan portfolio increased by $ 5 4. 4 billion or 1 6.8 % compared to April 2025 , with loans net of allowances for credit losses increasing to $ 378.3 billion. Our core loan book continues to perform well with mortgages increasing year - o v er - yea r by 19 %, consumer loans by 1 5 %, credit cards by 1 2 % and commercial loans by 15 %.

7 LIABILITIES Total liabilities were $ 6 74.2 billion as at April 2026 and showed an increase of $ 66.6 billion or 11% The increase noted was driven mainly by the growth in client deposits. Deposits Deposits by the public increased to $5 7 1 . 8 billion. The $ 6 0 .6 billion or 11. 9 % growth in core deposits was reflected in higher inflows from our retail and commercial clients, signaling our clients’ continued confidence in the strength and safety of the Scotia Group. Funds under Management Our strategic focus continues to be geared towards growing our off - balance sheet business, namely, mutual funds and unit trusts . As at April 2026 , our asset management portfolios showed an increase of $ 2 2.6 billion or 10 % and was attributable to the growth in the net asset value of the Pension Funds, the Scotia Premium Money Market Fund, Scotia Premium Fixed Income Fund and the Caribbean Income Fund. Insurance Contract Liabilities/Segregated Funds Insurance contract liabilities primarily relate to our flagship product ScotiaMint with a balance of $5 1 .4 billion as at April 2026 and reflected a year over year increase of $ 885.3 mi llion or 1. 8 %. Our segregated fund balance primarily relates to our Scotia Affirm product, which continues to perform well, growing by $ 5 56 million or 27. 7 % year over year. The increase noted was attributable to growth in the net asset value of the funds . We continue to encourage our clients to secure adequ ate insurance protection as part of their overall financial plan.

8 CAPITAL Shareholders’ equity available to common shareholders totaled $1 6 9.7 billion and reflected an increase of $1 3.8 billion or 8. 8 % when compared to April 2025 . This was due primarily to higher internally generated profits , re - measurement of the defined benefit pension plan assets, partially offset by lower fair value gains on the investment portfolio . We continue to exceed regulatory capital requirements in all our business lines, and our strong capital position also enables us to manage increased capital adequacy requirements in the future and take advantage of growth opportunities. Our regulatory capital adequacy levels versus the minimum requirements are shown below:

9

10

11

12

13

14

15

16 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS April 30 , 202 6 1. Identification Scotia Group Jamaica Limited (the Company) is a 71.78% subsidiary of Scotiabank Caribbean Holdings Limited, which is incorporated and domiciled in Barbados. The Bank of Nova Scotia, which is incorporated and domiciled in Canada, is the ultimate parent. The Company is the parent of The Bank of Nova Scotia Jamaica Limited (100%) and Scotia Investments Jamaica Limited (100%). All subsidiaries are incorporated in Jamaica, except for Scotia Asset Management (Barbados) Inc. 2. Significant accounting policies (a) Basis of presentation Statement of compliance The condensed interim consolidated financial statements have been prepared in accordance with IAS 34, ‘Interim financial reporting’. The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consisten t with those applied in the preparation of the Group’s annual audited consolidated financial statements for the year ended October 31, 202 5 , which was prepared in accordance with International Financial Reporting Standards (IFRS). Functional and presentation currency The condensed interim consolidated financial statements are presented in Jamaican dollars, which is the Group’s functional currency. All financial information has been expressed in thousands of Jamaican dollars unless otherwise stated. Basis of consolidation The consolidated financial statements include the assets, liabilities, and results of operations of the Company and its subsidiaries presented as a single economic entity. Intra - group transactions, balances, and unrealized gains and losses are eliminated i n preparing the consolidated financial statements. 3. Critical accounting estimates and judgements The preparation of financial statements, in conformity with IFRS requires management to make estimates, apply judgements and make assumptions that affect the reported amount of and disclosures relating to assets, liabilities, income and expenses at the da te of the condensed interim consolidated financial statements. Estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances, and are contin ually evaluated.

17 4. Financial Assets Financial assets include both debt and equity instruments. Classification and measurement Debt instruments Debt instruments, including loans and debt securities, are classified into one of the following measurement categories: • Amortized cost; • Fair value through other comprehensive income (FVOCI); or • Fair value through profit or loss (FVTPL). Classification of debt instruments is determined based on the business model under which the asset is held and the contractual cash flow characteristics of the instrument. Equity instruments Equity instruments are measured at FVTPL, unless an election is made to designate them at FVOCI upon purchase. Allowance for expected credit losses The group applies a three - stage approach to measure allowance for credit losses, using an expected credit loss approach as required under IFRS 9. Financial assets migrate through three stages based on the change in credit risk since initial recognition. The Group’s allowance for credit loss calculations are outputs of models with a number of underlying assumptions regarding the choice of variable inputs and their interdependencies. This impairment model uses a three - stage approach based on the extent of credit deterioration since origination: Stage 1 – Where there has not been a significant increase in credit risk (SIR) since initial recognition of a financial instrument, an amount equal to 12 months expected credit loss is recorded. The expected credit loss is computed using a probability of default oc curring over the next 12 months. Stage 2 – When a financial instrument experiences a SIR subsequent to origination but is not considered to be in default, it is included in Stage 2. This requires the computation of expected credit loss based on the probability of default over the remaining estimat ed life of the financial instrument. Stage 3 – Financial instruments that are considered to be in default are included in this stage. Similar to Stage 2, the allowance for credit losses captures the lifetime expected credit losses.

18 5. Pledged Assets Assets are pledged to other financial institutions, regulators, and the clearing house as collateral under repurchase agreements with counterparties. ($ Millions) 202 6 202 5 Securities with regulators, clearing houses and other financial institutions 6,085 4, 678 6,085 4, 678 6. Insurance and investment contracts Insurance contracts are those contracts that transfer significant insurance risks. Such contracts may also transfer financial risk. As a general guideline, the Group defines as significant insurance risk, the possibility of having to pay benefits at the oc currence of an insured event that is at least 10% more than the benefits payable if the insured event did not occur. 7. Property and equipment including right of use assets All property, plant and equipment are stated at cost less accumulated depreciation. The Group recognizes a right of use asset and a lease liability at the commencement of the lease. The right of use asset is initially measured based on the present value of the lease payments. 8. Cash and cash equivalents For the purpose of the cash flow statement, cash and cash equivalents include notes and coins on hand, unrestricted balances held with Bank of Jamaica, amounts due from other banks, and highly liquid financial assets with original maturities of less than n inety days, which are readily convertible to known amounts of cash, and are subject to insignificant risk of changes in their fair value. 9. Employee benefits The Group operates both defined benefit and defined contribution pension plans. The assets of the plans are held in separate trustee - administered funds. The pension plans are funded by contributions from employees and by the relevant group companies, taki ng into account the recommendations of qualified actuaries. (i) Defined Benefit Plan The asset or liability in respect of the defined benefit plan is the difference between the present value of the defined benefit obligation at the reporting date and the fair value of plan assets. Where a pension asset arises, the amount recognized is limited to the present value of any economic benefits available in the form of refunds from the plan or reduction in future contributions to the plan. The pension costs are assessed using the Projecte d Unit Credit Method.

19 9. Employee benefits (continued) (i) Defined Benefit Plan (continued) Under this method, the cost of providing pensions is charged as an expense in such a manner as to spread the regular cost over the service lives of the employees in accordance with the advice of the actuaries, who carry out a full valuation of the plan ev ery year in accordance with IAS 19. Re - measurements comprising actuarial gains and losses, return on plan assets and changes in the effect of the asset ceiling are reported in other comprehensive income. The pension obligation is measured as the present va lue of the estimated future benefits of employees, in return for service in the current and prior periods, using estimated discount rates based on market yields on Government securities which have terms to maturity approximating the terms of the related li ability. (ii) Other post - retirement obligations The Group also provides supplementary health care and insurance benefits to qualifying employees upon retirement. The entitlement to these benefits is usually based on the completion of a minimum service period and the employee remaining in service up to r etirement age. The expected costs of these benefits are accrued over the period of employment, using an accounting methodology similar to that for defined benefit pension plans. These obligations are valued annually by qualified independent actuaries. (iii) Defined contribution plan Contributions to this plan are charged to the statement of revenue and expenses in the period to which they relate. 10. Segment reporting The Group is organized into six main business segments: ▪ Retail Banking – this incorporates personal banking services, personal deposit accounts, credit and debit cards, client loans and mortgages; ▪ Corporate and Commercial Banking – this incorporates non - personal direct debit facilities, current accounts, deposits, overdrafts, loans and other credit facilities; ▪ Treasury – this incorporates the Group’s liquidity and investment management function, management of correspondent bank relationships, as well as foreign currency trading activities; ▪ Investment Management Services – this incorporates investments, unit trusts, pension and other fund management, brokerage and advisory services, and the administration of trust accounts. ▪ Insurance Services – this incorporates the provision of life and medical insurance, individual pension administration and annuities; ▪ Other operations of the Group comprise the parent company. Segment assets and liabilities comprise operating assets and liabilities, being the majority of items on the statement of financial position, but exclude items such as taxation, retirement benefits asset and obligation and borrowings. Eliminations comprise intercompany transactions and balances. The Group’s operations are located mainly in Jamaica. The operations of subsidiaries located overseas represent less than 10% of the Group’s operating revenues and assets.