
performance of an equally-weighted basket comprised of the common stock of Ares Management Corporation, the common stock ofApollo Global Management, Inc., the common stock of Blackstone Inc., the common stock of The Carlyle Group Inc., the commonstock of KKR & Co. Inc. and the common stock of TPG Inc. (the basket components) as measured from the strike date (March 13,2026) to and including the valuation date (April 13, 2027). The initial basket level was set to 100 on the strike date and the final basket level will equal thesumof the products, as calculatedfor each basket component, of: (i) the final component pricedividedby the initial component price (which in each case is the closingprice of the applicable basket component on the strike date),multipliedby(ii) the applicable initial weighted value for each basketcomponent set forth on page P-5. If the final basket level on the valuation date is greater than the initial basket level, the return onyour notes will be positive and will equal the participation rate of 200.00%timesthe basket return, which is the percentage increaseor decrease in the final basket level from the initial basket level, subject to the maximum payment amount of $1,531.00 for each$1,000 principal amount of your notes. If the final basket level is equal to the initial basket level, you will receive the principal amountof your notes.If the final basket level is less than the initial basket level, the return on your notes will be negative and youmay lose up to your entire principal amount. Specifically, you will lose 1% for every 1% negative basket return below theinitial basket level. Any payment on your notes is subject to the creditworthiness of The Bank of Nova Scotia. To determine your payment at maturity, we will calculate the basket return. At maturity, for each $1,000 principal amount of yournotes, you will receive an amount in cash equal to: ●if the final basket level isgreater thanthe initial basket level (the basket return is positive), the sum of (i) $1,000 plus (ii) theproduct of (a) $1,000 times (b) the basket return times (c) the participation rate, subject to the maximum payment amount;●if the final basket level isequal tothe initial basket level (the basket return is zero), $1,000; or●if the final basket level isless thanthe initial basket level (the basket return is negative), the sum of (i) $1,000 plus (ii) theproduct of (a) $1,000 times (b) the basket return. Declines in the price of one basket component may offset increases in the prices of the other basket components. Inaddition, no payments on your notes will be made prior to maturity. Investment in the notes involves certain risks. You should refer to “Additional Risks” beginning on page P-15 of thispricing supplement and “Additional Risk Factors Specific to the Notes” beginning on page PS-6 of the accompanyingproduct supplement and “Risk Factors” beginning on page S-2 of the accompanying prospectus supplement and on page8 of the accompanying prospectus. The initial estimated value of your notes on the trade date was $973.40 per $1,000 principal amount, which is less than theoriginal issue price of your notes listed below. See “Additional Information Regarding Estimated Value of the Notes” onthe following page and “Additional Risks” beginning on page P-15 of this document for additional information. The actualvalue of your notes at any time will reflect many factors and cannot be predicted with accuracy. Neither the United States Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved ordisapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement, the accompanying prospectus,prospectus supplement or product supplement. Any representation to the contrary is a criminal offense.The notes are not insured by the Canada Deposit Insurance Corporation (the “CDIC”) pursuant to the Canada Deposit Insurance Corporation Act (the “CDIC Act”) or the U.S. Federal Deposit Insurance Corporation or any other government agency of Canada, theUnited States or any other jurisdiction. Scotia Capital (USA) Inc. Goldman Sachs & Co. LLCDealer The Capped Enhanced Participation Basket-Linked Notes Due April 15, 2027 (the “notes”) offered hereunder areunsubordinated and unsecured obligations of The Bank of Nova Scotia (the “Bank”) and are subject to investmentrisks including possible loss of the principal amount invested due to the negative performance of the basket and thecredit risk of the Bank. As used in this pricing supplement, the “Bank,” “we,” “us” or “our” refers to The Bank of NovaScotia. The notes will not be listed on any U.S. securities exchange or automated quotation system. The return on your notes will relate to the price return of the basket components and will not include any dividendsthat may be paid on the basket components. The notes are derivative products based on the performance of thebasket. The notes do not constitute a direct inves