
The Bank of Nova Scotia General ■The notes offered by this pricing supplement (the “Notes”) are unsubordinated and unsecured debt securities of The Bank ofNova Scotia (the “Bank”) and any payments on the Notes are subject to the credit risk of the Bank■The Notes will be automatically called if the Closing Value of the common stock of NVIDIA Corporation (the “ReferenceAsset”) on any Observation Date prior to the final Observation Date (which is also the “Final Valuation Date”) is equal to orgreater than the Initial Value. No further amounts will be owed on the Notes.■If the Notes have not been automatically called and the Closing Value on any Observation Date is equal to or greater than80.00% of the Initial Value (the “Contingent Coupon Barrier Value”), the Notes will pay a Contingent Coupon of at least $51.40(the actual Contingent Coupon will be determined on the Trade Date) with respect to such date, plus any Unpaid ContingentCoupons (defined below) that have accrued and have not already been paid on a previous Contingent Coupon Payment Date■If the Notes have not been automatically called and the Closing Value on any Observation Date prior to the Final ValuationDate is less than the Contingent Coupon Barrier Value, the Contingent Coupon with respect to such Observation Date will notbe payable on the related Contingent Coupon Payment Date and will become an “Unpaid Contingent Coupon” and will bepaid on the next Contingent Coupon Payment Date on which a Contingent Coupon otherwise becomes payable (if oneoccurs)■If the Notes are not automatically called, the Payment at Maturity will be based solely on the Reference Asset Return (whichmeasures the performance of the Reference Asset from the Initial Value to the Final Value); the Final Value will be the ClosingValue of the Reference Asset on the Final Valuation Date■If the Notes are not automatically called and the Final Value is equal to or greater than 80.00% of the Initial Value (the “BufferValue”), you will receive the Principal Amount, in addition to any Contingent Coupon due with respect to the Final ValuationDate and any accrued Unpaid Contingent Coupons that have not yet been paid■If the Notes are not automatically called and the Final Value is less than the Buffer Value, you will lose 1.25% of the PrincipalAmount of the Notes for each 1% that the Final Value is less than the Initial Value in excess of 20.00% (the “Buffer Amount”)and you may lose up to 100% of the Principal Amount■The Notes do not guarantee interest and you may not receive any Contingent Coupons on the Notes■The Trade Date is expected to be March 27, 2026 and the Notes are expected to settle on April 1, 2026and will have a termof approximately 54 weeks, if not automatically called prior to maturity■Minimum investment of $10,000 and integral multiples of $1,000 in excess thereof■CUSIP / ISIN: 06419HK78 / US06419HK786■See “Summary” beginning on page P-3 herein for additional information and definitions of the terms used, but not definedaboveAll payments on the Notes will be made in cash.Any payment on your Notes is subject to the creditworthiness of the Bank. Investment in the Notes involves certain risks. You should refer to “Additional Risks” beginning on page P-10 of this pricingsupplement and “Additional Risk Factors Specific to the Notes” beginning on page PS-6 of the accompanying productsupplement and “Risk Factors” beginning on page S-2 of the accompanying prospectus supplement and on page 8 of theaccompanying prospectus.The initial estimated value of your Notes at the time the terms of the Notes are set on the Trade Date is expected to be between $956.49 and $986.49per $1,000 Principal Amount, which will be less than the Original Issue Price of your Notes listedbelow.See “Additional Information Regarding Estimated Value of the Notes” on the following page and “Additional Risks—RisksRelating to Estimated Value and Liquidity” beginning on page P-12 of this document for additional information. The actual value of yourNotes at any time will reflect many factors and cannot be predicted with accuracy.Per NoteTotal (1)The Original Issue Price for certain fiduciary accounts may be as low as $990.00.(2)Scotia Capital (USA) Inc. (“SCUSA”), our affiliate, will purchase the Notes at the Original Issue Price and, as part of the distribution of the Notes, will sell the Notes to J.P. Morgan Securities LLC (“JPMS”). JPMS and its affiliates will act as placement agents for the Notes (together with SCUSA, the amount that the placement agents receive from sales to accounts other than fiduciary accounts.Neitherthe United States Securities and Exchange Commission(the“SEC”)nor any state securities commission has approved or The Notes are not insured by the Canada Deposit Insurance Corporation (the “CDIC”) pursuant to the Canada Deposit Insurance CorporationAct (the “CDIC Act”) or the U.S. Federal Deposit Insurance Corporation (the “FDIC”) or any other government agency of Canada, the UnitedStat