Satellos Bioscience Inc. — Capital/Financing Update 2026

Feb 5, 2026

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Stikeman Elliott LLP Barristers & Solicitors 199 Bay Street Suite 5300, Commerce Court West Toronto, ON M5L 1B9

Main: 416 869 5500

Canada

Fax: 416 947 0866 www.stikeman.com

February 5, 2026 By SEDAR+

British Columbia Securities Commission Alberta Securities Commission Financial and Consumer Affairs Authority of Saskatchewan The Manitoba Securities Commission Autorité des marchés financiers Ontario Securities Commission Nova Scotia Securities Commission Financial and Consumer Services Commission (New Brunswick) Office of the Superintendent of Securities (Prince Edward Island) Office of the Superintendent of Securities Service Newfoundland and Labrador Office of the Superintendent of Securities (Yukon Territory) Northwest Territories Securities Office Nunavut Securities Office

Dear Sirs/Mesdames:

Re: Pricing Supplement No. 6272 dated February 5, 2026 (the "Supplement") to the Short Form Base Shelf Prospectus dated March 4, 2024 and the Prospectus Supplement thereto dated March 5, 2024 of the Bank of Nova Scotia (the "Bank")

We refer you to the Supplement relating to the offering of up to US\$30,000,000 (300,000 Notes) BNS Canadian Telecom (AR) Index Callable Contingent US\$8.04 Coupon Notes, Series 60 (USD), due February 22, 2033, Principal at Risk Notes.

We consent to the use of our firm name and the reference to our legal opinion in Appendix B "Certain Canadian Federal Income Tax Considerations" of the Supplement, which opinion is provided as of the date of the Supplement.

We have read the Supplement and have no reason to believe that there are any misrepresentations in the information contained in the Supplement that are (i) derived from our legal opinion provided in the Supplement, or (ii) within our knowledge as a result of the services performed by us in connection with such opinion.

Yours truly,

"Stikeman Elliott LLP"