The Bank of Nova ScotiaSenior Note Program, Series A Equity Linked SecuritiesMarket Linked Securities—Auto-Callable with Contingent Coupon with Memory Feature and Contingent DownsidePrincipal at Risk Securities Linked to the Lowest Performing of the common stock of Amazon.com, Inc., the common stock ofBroadcom Inc., the Class A common stock ofAlphabet Inc. and the common stock of NVIDIA Corporation due March 29, 2029 ■Linked to thelowest performingof the common stock of Amazon.com, Inc., the common stock of Broadcom Inc., the Class A common stock of Alphabet Inc. andthe common stock of NVIDIA Corporation (each referred to as an “Underlying Stock”) ■Unlike ordinary debt securities, the securities do not provide for fixed payments of interest, do not repay a fixed amount of principal at stated maturity and aresubject to potential automatic call prior to stated maturity upon the terms described below. Whether the securities pay a contingent coupon payment, whether thesecurities are automatically called prior to stated maturity and, if they are not automatically called, whether you receive the face amount of your securities atstated maturity will depend, in each case, on the stock closing price of the lowest performing Underlying Stock on the relevant calculation day.The lowestperforming Underlying Stock on any calculation day is the Underlying Stock that has the lowest stock closing price on that calculation day as a percentage of its ■Contingent Coupon.The securities will pay a contingent coupon payment on a monthly basis until the earlier of stated maturity or automatic call if,and only if,the stock closing price of the lowest performing Underlying Stock on the calculation day for that month is greater than or equal to its coupon threshold price.Ifthe stock closing price of the lowest performing Underlying Stock on one or more calculation days is less than its coupon threshold price and, on a subsequentcalculation day, the stock closing price of the lowest performing Underlying Stock on that subsequent calculation day is greater than or equal to its couponthreshold price, the securities will pay the contingent coupon payment due for that subsequent calculation day plus all previously unpaid contingent couponpayments (without interest on amounts previously unpaid). If the stock closing price of the lowest performing Underlying Stock on a calculation day is less than itscoupon threshold price, you will not receive any contingent coupon payment on the related monthly contingent coupon payment date. In addition, if the stockclosing price of the lowest performing Underlying Stock on a calculation day is less than its coupon threshold price and the stock closing price of the lowest ■Automatic Call.If the stock closing price of the lowest performing Underlying Stock on any of the monthly calculation days from June 2026 to February 2029,inclusive, is greater than or equal to its starting price, the securities will be automatically called for the face amount plus a final contingent coupon payment andany previously unpaid contingent coupon payments ■Potential Loss of Principal.If the securities are not automatically called prior to stated maturity, you will receive the face amount at stated maturity if,and onlyif, the stock closing price of the lowest performing Underlying Stock on the final calculation day is greater than or equal to its downside threshold price. If thestock closing price of the lowest performing Underlying Stock on the final calculation day is less than its downside threshold price, you will lose more than 40%,and possibly all, of the face amount of your securities. The downside threshold pricefor each Underlying Stock is equal to 60% of its starting price ■If the securities are not automatically called prior to stated maturity, you will have full downside exposure to the lowest performing Underlying Stock from itsstarting price if its stock closing price on the final calculation day is less than its downside threshold price, but you will not participate in any appreciation of anyUnderlying Stock and will not receive any dividends ■Your return on the securities will dependsolelyon the performance of the Underlying Stock that is the lowest performing Underlying Stock on each calculationday.You will not benefit in any way from the performance of a better performing Underlying Stock.Therefore, you will be adversely affected ifanyUnderlyingStock performs poorly, even if another Underlying Stock performs favorably ■All payments on the securities are subject to the credit risk of The Bank of Nova Scotia (the “Bank”)■No exchange listing; designed to be held to maturity The estimated value of the securities as determined by the Bank as of the pricing date is $943.47 (94.347%) per security. See “The Bank's Estimated Value of theSecurities” in this pricing supplement for additional information. The securities have complex features and investing in the securities involves risks not associated with