Exhibit 99.1 Quarterly Report to Shareholders Scotiabank reports first quarter results TORONTO, February 28, 2023 – Scotiabank reported first quarter net income of $1,772 million compared to$2,740 million in the same period last year. Diluted earnings per share (EPS) were $1.36, compared to$2.14 in the same period a year ago. Adjusted net income(1) for the first quarter was $2,366 million and EPS was$1.85, down from $2.15 last year. Adjusted return on equity was 13.4% compared to 15.9% a year ago. “I am ...