TORONTO, January 31, 2024 – Small businesses make up more than 98% of the employers in Canada and account for more than 63% of all jobs, highlighting their role as the backbone of the Canadian economy[i]. Scotiabank and Home Hardware have teamed up to launch the new Scotia® Home Hardware PRO Visa* Business Card designed to support entrepreneurs in the trades and construction industry to better manage and expand their businesses.

The new card combines the convenience of a Visa credit card with a variable interest rate and the ability to earn Scene+™* points on purchases made at Home Hardware[i]. Unlike comparable cards, Scotia Home Hardware PRO Visa Business cardholders have more flexibility to redeem Scene+ points on a wide variety of options like travel, grocery, dining, entertainment, home improvement and more.

The Scotia Home Hardware PRO Visa Business Card allows small business owners to manage their expenses more efficiently with Visa Spend Clarity for Business, a web-based tool that allows you to track expenses and helps you stay on budget.

“Contractors, Builders, and Tradespeople make an enormous contribution to the Canadian economy and the segment continues to grow to match the growing demand for new homes and renovations,” said Pouya Zangeneh, Senior Vice President of Small Business at Scotiabank. “Fast, reliable, and secure access to credit is crucial for the daily operations of small business owners, and with the Scotia® Home Hardware PRO Visa Business Card we are delivering the ultimate tool that provides tremendous value that will help enhance the way they operate their small business.”

“For 60 years, Home’s Dealers have been champions of the PRO contractors in their local communities,” said Laura Baker, Chief Marketing Officer, Home Hardware Stores Limited. “The Scotia® Home Hardware PRO Visa Business Card brings immense value to our PRO customers, giving tradespeople, contractors, and builders alike the power to manage and grow their businesses while being rewarded with Scene+ points for purchasing the building materials and supplies needed to complete every job.”

Home Hardware is Canada’s largest 100% Dealer-owned hardware, lumber, building materials and furniture retailer with more than 1,000 locations nationwide.

New Scotia® Home Hardware PRO Visa Business Card customers have until May 31^st,2024 to take advantage of a promotional offer of 15,000 bonus Scene+ points when you are approved for a new account.

Scotia® Home Hardware PRO Visa Business Card Features:

• Lower interest rate, no annual fee, and 21-day grace period on new purchases

• Credit limits up to $500,000

• Earn 1 point for every $1 spent on eligible business purchases at Home Hardware locations in-store and online at homehardware.ca

• Set card limits for supplementary cardholders

• Tap and digital wallet functionality

• Card spend management capabilities through Visa Spend Clarity (provided by Visa Canada)

• Save up to 25% on car rentals at participating Avis and Budget locations

• Purchase Security and Extended Warranty[i]

Optional Scotia Business Loan Protection Insurance is also available for the Scotia® Home Hardware PRO Visa Business Card.[ii]

Learn more about the Scotia® Home Hardware PRO Visa Business Card by visiting Scotiabank.com

About Scotiabank

Scotiabank’s vision is to be our clients’ most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. 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 $1.4 trillion (as at October 31, 2023), Scotiabank 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.

About Home Hardware Stores Limited

Home Hardware Stores Limited is Canada's largest Dealer-owned hardware, lumber, building materials, and furniture home improvement retailer with more than 1,000 stores under the Home Hardware, Home Building Centre, Home Hardware Building Centre and Home Furniture banners. Founded in 1964 in rural St. Jacobs, Ontario, Home Hardware remains 100% Canadian-owned and operated. Through the Home Hardware network, Dealer-Owners have extensive distribution and marketing capabilities as well as access to thousands of quality, brand name and private label products. Home Hardware Stores Limited has received designation as one of Canada's Best Brands and Best Managed Companies and is committed to helping Canadians with all of their project needs. More information about the company is available at homehardware.ca.[i]

[i] https://www150.statcan.gc.ca/n1/pub/11-621-m/11-621-m2022004-eng.htm

[ii]re: Interest rate depends on whether the Scotia Home Hardware PRO Visa Business credit card account is secured or unsecured, subject to approval and the security provided. Scotiabank Prime Rate is the prime lending rate published from time to time by The Bank of Nova Scotia

[iii]Credit cards and related limits and rates are subject to approval and may vary. Terms and conditions apply to the card including all benefits and features noted herein and should be reviewed carefully before applying. All offers, rates, fees, features, reward programs, benefits and related terms and conditions are effective as of [date] and are subject to change. Visit scotiabank.com or speak with your advisor for full details. Certain services such as Visa Spend Clarity for Business and car rentals are provided by third parties; The Bank of Nova Scotia and its affiliates are not responsible for any such third-party services.

[iv] Coverages are underwritten by First North American Insurance Company, a wholly-owned subsidiary of The Manufacturers Life Insurance Company. The Bank of Nova Scotia is not an insurer. All coverage is subject to the terms and conditions outlined in the Certificate of Insurance.

[v]Scotia Business Loan Protection is underwritten by The Canada Life Assurance Company: Tel: 1-800-387-2671, www.canadalife.com under a Group Policy issued to the Bank of Nova Scotia. All coverage is subject to the terms and conditions outlined in the Certificate of Insurance which you will receive upon enrolment.