Filed by The Bank of Nova Scotia
Pursuant to Rule 425 under the Securities Act of 1933
Subject: The Bank of Nova Scotia
Commission File Number: 002-09048
Scotiabank to Acquire MapleMark Bank to Support Strategic Growth in Global Banking and Markets Business
May 29, 2026
TORONTO, May 29, 2026 /CNW/ - Scotiabank (BNS: TO) today announced that it has entered into a definitive agreement to acquire Maple Financial Holdings, Inc. (parent company to MapleMark Bank). MapleMark Bank is a U.S. commercial bank with operations primarily in Dallas, Texas.
“Our acquisition of MapleMark Bank allows Scotiabank to offer FDIC deposit insurance to our clients, which is important for our Mortgage Capital Markets business and our deposit growth strategy. MapleMark Bank is a well-run bank primarily operating in Dallas, Texas and further supports our strategic focus within the North American corridor,” said Travis Machen, CEO and Group Head, Global Banking and Markets, Scotiabank.
The transaction is subject to customary closing conditions and receipt of regulatory approvals and is not expected to have a material impact on Scotiabank’s earnings or CET1 ratio.
About Scotiabank
Scotiabank’s vision is to be our clients’ most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: “for every future,” we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at April 30, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT In connection with the transaction, The Bank of Nova Scotia (BNS) intends to file a registration statement on Form F-4 with the SEC. The registration statement will constitute a prospectus of BNS. The definitive prospectus will be sent to the shareholders of Maple Financial Holdings, Inc. (Maple). In addition, shareholders of Maple will receive an information statement / proxy and other relevant materials in connection with the proposed transaction in accordance with applicable state law. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM F-4 AND PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM F-4 WHEN THEY BECOME AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE REGISTRATION STATEMENT ON FORM F-4, AS WELL AS ANY OTHER DOCUMENTATION RECEIVED IN CONNECTION WITH THE TRANSACTION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION REGARDING BNS, MAPLE, THE TRANSACTION AND RELATED MATTERS. Shareholders will be able to obtain a free copy of the definitive prospectus, as well as other filings containing information BNS and Maple, without charge, at the SEC’s website (http://www.sec.gov [sec.gov]). Copies of the prospectus and the filings with the SEC that will be incorporated by reference in the prospectus can also be obtained, without charge, by directing a request to The Bank of Nova Scotia, 40 Temperance Street Toronto, Ontario, Canada M5H 0B4, Attention: Investor Relations, 416-775-0798 or to Maple Financial Holdings, Inc., 4143 Maple Avenue, Suite 100 Dallas, TX 75219, (972) 698-5760.
Before making any voting or investment decision, investors and security holders are urged to read carefully the entire registration statement and other related information when they become available, including any amendments thereto, because they will contain important information about the proposed Transaction. Free copies of these documents may be obtained as described above.
BNS, Maple and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Maple in connection with the Transaction. Information regarding the directors and executive officers of each of BNS and Maple is set forth in the F-4 and prospectus, as well as other related documents, to be filed or provided by BNS and/or Maple.
NO OFFER OR SOLICITATION
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
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accessibility, or other voice or data communications systems or services, which may result in data breaches, unauthorized access to sensitive information, denial of service and potential incidents of identity theft; increased competition in the geographic and business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; environmental, social and governance risks, including climate-related risk, our ability to implement various sustainability-related initiatives (both internally and with our clients and other stakeholders) under expected time frames, and our ability to scale our sustainable-finance products and services; the occurrence of natural and unnatural catastrophic events and claims resulting from such events, including disruptions to public infrastructure, such as transportation, communications, power or water supply; inflationary pressures; global supply-chain disruptions; Canadian housing and household indebtedness; the emergence or continuation of widespread health emergencies or pandemics, including their impact on the local, national or global economies, financial market conditions and the Bank’s business, results of operations, financial condition and prospects; and the Bank’s anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank’s business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank’s financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank’s actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank’s results, for more information, please see the “Risk Management” section of the Bank’s 2025 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2025 Annual Report under the headings “Outlook”, as updated by quarterly reports. The “Outlook” and “2026 Priorities” sections are based on the Bank’s views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank’s shareholders and analysts in understanding the Bank’s financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank’s Annual Information Form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC’s website at www.sec.gov.