6-K - BNS - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of: February, 2023	Commission File Number: 002-09048

THE BANK OF NOVA SCOTIA

(Name of registrant)

40 Temperance Street, Toronto, Ontario, M5H 0B4

(416) 933-4103

(Addressof Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☐ Form 40-F ☒

This report on Form 6-K shall be deemed to be incorporated by reference in The Bank of Nova Scotia’s registration statements on Form S-8 (File No. 333-199099) and Form F-3 (File No. 333-261476) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	THE BANK OF NOVA SCOTIA
Date: February 28, 2023	By:	/s/ Roula Kataras
		Name:	Roula Kataras
		Title:	Senior Vice-President & Chief Accountant

EXHIBIT INDEX

Exhibit	Description of Exhibit
99.1	Consolidated Capitalization and Consolidated Earnings Ratios
99.2	Statement Regarding the Computation of Consolidated Ratio of Earnings

EX-99.1

Exhibit 99.1

CONSOLIDATED CAPITALIZATION OF THE BANK

The following table sets forth the consolidated capitalization of The Bank of Nova Scotia (the “Bank”) as at January 31, 2023:

	As at<br>January 31, 2023
	(in millions ofCanadian dollars)
Subordinated Debentures		8,713
Equity
Common Equity
Common Shares		18,732
Retained Earnings		54,165
Accumulated Other Comprehensive Income		(6,640	)
Other Reserves		(145	)
Total Common Equity		66,112
Preferred Shares and Other Equity Instruments		8,075
Total Equity Attributable to Equity Holders of the Bank		74,187
Non-controlling Interests
Non-controlling Interests in Subsidiaries		1,564
Total Equity		75,751
Total Capitalization	****	84,464	****

CONSOLIDATED EARNINGS RATIOS

The following table provides the Bank’s consolidated ratios of earnings to fixed charges, based upon financial information calculated in accordance with International Financial Reporting Standards (“IFRS”) for the three months period ended January 31, 2023 and for each of the years in the five year period ended October 31, 2022.

	Three MonthsEndedJanuary 31,		October 31,
	2023		2022		2021		2020		2019		2018
Consolidated Ratios of Earnings to Fixed Charges
Excluding interest on deposits		4.80		5.78		9.00		5.91		6.61		8.15
Including interest on deposits		1.33		1.82		2.56		1.66		1.67		1.88
Consolidated Ratios of Earnings to Combined Fixed Charges andPreferred Dividends
Excluding interest on deposits		3.94		5.14		7.55		5.16		5.88		7.02
Including interest on deposits		1.31		1.78		2.46		1.63		1.65		1.84

For purposes of computing these ratios:

•	earnings represent income from continuing operations plus income taxes and fixed charges (excluding capitalized<br>interest and net income from investments in associated corporations);
•	fixed charges, excluding interest on deposits, represent interest (including capitalized interest), estimated<br>interest within rent, and amortization of debt issuance costs; and
---	---
•	fixed charges, including interest on deposits, represent all interest.
---	---

EX-99.2

Exhibit 99.2

Computation of Consolidated Ratio of Earnings

( in million)		IFRS
		2022		2021		2020		2019		2018
Excluding interest on deposits
Earnings
Income from continuing operations before income taxes	2,878		12,932		12,826		8,396		11,270		11,106
less: gain from investees	16		268		339		242		650		559
	2,862		12,664		12,487		8,154		10,620		10,547
Fixed charges	753		2,649		1,560		1,661		1,894		1,475
Earnings	3,615		15,313		14,047		9,815		12,514		12,022
Fixed charges
Interest expense	753		2,649		1,560		1,661		1,736		1,332
Estimate of the interest within rental expense	—		—		—		—		158		143
Fixed charges	753		2,649		1,560		1,661		1,894		1,475
Preference security dividend<br>requirements(1)	164		330		300		240		233		238
Fixed charges and preferred dividends	917		2,979		1,860		1,901		2,127		1,713
Ratio of earnings to fixed charges	4.80	****	5.78	****	9.00	****	5.91	****	6.61	****	8.15
Ratio of earnings to combined fixed charges and preferred dividends	3.94	****	5.14	****	7.55	****	5.16	****	5.88	****	7.02
Including interest on deposits
Earnings
Income from continuing operations before income taxes	2,878		12,932		12,826		8,396		11,270		11,106
less: gain from investees	16		268		339		242		650		559
	2,862		12,664		12,487		8,154		10,620		10,547
Fixed charges	8,587		15,443		8,025		12,392		15,765		12,019
Earnings	11,449		28,107		20,512		20,546		26,385		22,566
Fixed charges
Interest expense	8,587		15,443		8,025		12,392		15,607		11,876
Estimate of the interest within rental expense	—		—		—		—		158		143
Fixed charges	8,587		15,443		8,025		12,392		15,765		12,019
Preference security dividend<br>requirements(1)	164		330		300		240		233		238
Fixed charges and preferred dividends	8,751		15,773		8,325		12,632		15,998		12,257
Ratio of earnings to fixed charges	1.33	****	1.82	****	2.56	****	1.66	****	1.67	****	1.88
Ratio of earnings to combined fixed charges and preferred dividends	1.31	****	1.78	****	2.46	****	1.63	****	1.65	****	1.84

All values are in US Dollars.

Note (1)	Preference security dividend requirements include the amount of pre-tax earnings that is required to pay the dividends on outstanding preference securities.