丰业银行美股招股说明书(2026-05-21版)

PRELIMINARY PRICING SUPPLEMENTSubject To Completion,dated May 21, 2026Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-282565(To Product Supplement No. WF-1 dated November 8, 2024, The Bank of Nova Scotia MarketLinked Securities—Auto-Callable with Contingent Coupon with Memory Feature and ContingentDownsidePrincipal at Risk Securities Linked to the Lowest Performing of the common stock of Dell Technologies Inc., the common stock of Marvell Technology, Inc. and the common stock of Palantir Technologies Inc. due June 1, 2029 ■Linked to thelowest performingof the common stock of Dell Technologies Inc., the common stock of Marvell Technology, Inc. and the common stock of Palantir Technologies Inc. (each referred to as an “UnderlyingStock”) ■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 are subject to potential automatic call prior to stated maturityupon the terms described below.Whether the securities pay a contingent coupon payment, whether the securities are automatically called prior to stated maturity and, if they are not automatically called, whether youreceive the face amount of your securities at stated maturity will depend, in each case, on the stock closing price of the lowest performing Underlying Stock on the relevant calculation day.The lowest performingUnderlying 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 starting price ■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 performingUnderlying Stock on the calculation day for that month is greater than or equal to its coupon threshold price.If the stock closing price of the lowest performing Underlying Stock on one or more calculation days is lessthan its coupon threshold price and, on a subsequent calculation day, the stock closing price of the lowest performing Underlying Stock on that subsequent calculation day is greater than or equal to its coupon thresholdprice, the securities will pay the contingent coupon payment due for that subsequent calculation day plus all previously unpaid contingent coupon payments (without interest on amounts previously unpaid). If the stockclosing price of the lowest performing Underlying Stock on a calculation day is less than its coupon threshold price, you will not receive any contingent coupon payment on the related monthly contingent coupon paymentdate. In addition, if the stock closing 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 performing Underlying Stock on ■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 only if, the stock closing price of the lowest performingUnderlying Stock on the final calculation day is greater than or equal to its downside threshold price. If the stock closing price of the lowest performing Underlying Stock on the final calculation day is less than itsdownside threshold price, you will lose more than 55%, and possibly all, of the face amount of your securities. The downside threshold pricefor each Underlying Stock is equal to 45% 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 its starting price if its stock closing price on the final calculation dayis less than its downside threshold price, but you will not participate in any appreciation of any Underlying 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 calculation day. You will not benefit in any way from the performance ofa better performing Underlying Stock. Therefore, you will be adversely affected ifanyUnderlying Stock 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 If the securities priced today, the estimated value of the securities as determined by the Bank would be between $901.34 (90.134%) and $931.34 (93.134%) per security. See “TheBank's Estimated Value of the Securities” in this pricing supplement for additional information. The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Selected RiskConsiderations” beginning on page P-10 herein and “Risk Factors” beginning on page PS-3 of the accomp