Overview of the Scotia Momentum® No-Fee VISA Card

• Minimum income $12K/yr
• Household income Any
• Recommended credit score 660+
• You are a permanent Canadian resident and have reached the age of majority in the province in which you live.

Offer Description and Conditions: The 5% Cash Back and Introductory 0% Balance Transfer Rate Offer (the “Offer”) applies only to new Scotia Momentum No-Fee Visa credit card accounts (“Accounts”) that are opened by June 30, 2025 and is subject to the below terms and conditions. All other terms and conditions of the Program Terms continue to apply during the Offer Period. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.

5% Cash Back Offer Conditions: You will earn 5% cash back on the first $2,000 in eligible purchases you spend on your new Account within the first 3 months of the Account open date (the “Promotional Period”). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers and cash-like transactions), interest, fees or other charges. After the Promotional Period, you will earn regular cash back on eligible purchases at the regular cash back rate (the “Cash Back Program Rate”) described in the Scotia Momentum No-Fee Visa Cash Back Program Terms and Conditions (the “Program Terms”). The 5% cash back rate for any category is made up of the sum of: (i) the regular Cash Back Program Rate (variable by categories as set out under the Program Terms); and (ii) a “Cash Back Bonus Rate”.

Cash back earned under this Offer will be credited to your Account in 2 instalments so long as your Account is open and in good standing at time of payout of each:

1. Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within approximately 7 months from the Account open date; and

2. Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program Terms.

The Account is considered in good standing if it is not past due or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.

EXAMPLE: If the Regular Cash Back Program Rate for the Groceries and Recurring Payments category is 1% then the Cash Back Bonus Rate will be 4% for that category so that you will earn a total of 5% on the amount of all eligible everyday purchases in that category during the Promotional Period. If you make $2,000 in eligible everyday purchases in the Groceries and Recurring Payments category, your cash back earnings will be credited to your Account as follows:

(1) the Cash Back Bonus earnings of $80 (4% x $2,000) (which will not be tracked on your monthly statements), will be credited to your Account within 7 months from the Account open date, and (2) the Regular Cash Back earnings of $20 (1% x $2,000) (which will be tracked on your monthly statements), will be credited to your Account as per the regular cash back payment schedule (i.e., November).

Introductory 0% Balance Transfer Rate Offer Description and Conditions: The Introductory 0% Balance Transfer Rate Offer (the “Rate Offer”) applies only to eligible cash advances (including balance transfers and cash-like transactions) (collectively “Cash Advances”) subject to the conditions below. This introductory rate applies if the new Account is opened by June 30, 2025 and will continue for 6 months from date of Account opening (the “Promotional Period”). After the Promotional Period, the promotional 0% interest rate on any Cash Advances (including any amount of those Cash Advances that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 22.99%). A balance transfer fee of 2% of the amount of each Cash Advance transferred or made during the Promotional Period applies (minimum fee of $5.00).

This Rate Offer is subject to any available limit for Cash Advances on your Account. This Rate Offer cannot be used for any Scotiabank account including to transfer a balance from another Scotiabank account, or to make a payment or deposit to another Scotiabank account.

Losing your promotional rate: If we don’t receive the minimum payment on your Account by the payment due date on your statement, two consecutive times , you will lose the benefit of this promotional Rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on Cash Advances). All other terms and conditions of the Program Terms continue to apply during the Offer period.

How we apply payments: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.

Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are also eligible for the Offer.

Rates and Fees: There is currently no annual fee for the primary card and no fee for each additional card (including those issued to co-borrowers and supplementary cardholders). The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on Cash Advances. All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are subject to change.