Update on Scotiabank Operations in Antigua

Dear Valued Customer,

We would like to inform you that Scotiabank has reached an agreement to sell its operations in Antigua and Barbuda to Eastern Caribbean Amalgamated Bank Limited (“ECAB”).

ECAB is a full-service commercial bank located in Antigua and Barbuda offering personal and commercial banking products and services including deposits, loans, cards, foreign exchange and other services to individual and business clients in Antigua and Barbuda and across the Caribbean. ECAB is owned by a consortium of regional institutions including Antigua Commercial Bank, Eastern Caribbean Financial Holding Company Limited, National Bank of Dominica, St. Kitts Nevis Anguilla National Bank, Bank of St. Vincent and the Grenadines and the Government of Antigua and Barbuda. For further information on ECAB, please visit their website at: https://www.ecabank.com/home/.

You do not have to take any action as a result of this announcement. This agreement is subject to regulatory approval. Until regulatory approval is obtained, customary closing conditions are met and the transaction closes, all operations will continue as usual.

As part of the agreement, Scotiabank employees will be offered several options in relation to employment, inclusive of being provided the opportunity to be a member of the ECAB team.

Once the transaction closes, ECAB and Scotiabank will work together to provide as smooth a transition as possible. Following the close of the transaction, ECAB will begin to communicate directly with you.

We thank you for your valued business and providing us the opportunity to continue serving your needs.

If you have any further questions regarding this change, please feel free to contact the Scotiabank contact centre at 800-472-6842.