diff --git a/scripts/files/fs_s3.py b/scripts/files/fs_s3.py
index 42863b04a..1b4ab05df 100644
--- a/scripts/files/fs_s3.py
+++ b/scripts/files/fs_s3.py
@@ -97,13 +97,19 @@ def exists(path: str, needs_credentials: bool = False) -> bool:
         if needs_credentials:
             s3 = get_session(path).resource("s3")
 
-        bucket_name = bucket_name_from_path(s3_path)
-        bucket = s3.Bucket(bucket_name)
-        objects = bucket.objects.filter(Prefix=key)
-
-        if len(list(objects)) > 0:
-            return True
-        return False
+        if path.endswith("/"):
+            bucket_name = bucket_name_from_path(s3_path)
+            bucket = s3.Bucket(bucket_name)
+            # MaxKeys limits to 1 object in the response
+            objects = bucket.objects.filter(Prefix=key, MaxKeys=1)
+
+            if len(list(objects)) > 0:
+                return True
+            return False
+
+        # load() fetch the metadata, not the data. Calls a `head` behind the scene.
+        s3.Object(s3_path, key).load()
+        return True
     except s3.meta.client.exceptions.NoSuchBucket as nsb:
         get_log().debug("s3_bucket_not_found", path=path, info=f"The specified bucket does not seem to exist: {nsb}")
         return False
@@ -111,7 +117,11 @@ def exists(path: str, needs_credentials: bool = False) -> bool:
         if not needs_credentials and ce.response["Error"]["Code"] == "AccessDenied":
             get_log().debug("read_s3_needs_credentials", path=path)
             return exists(path, True)
-
+        # https://boto3.amazonaws.com/v1/documentation/api/latest/guide/error-handling.html#parsing-error-responses-and-catching-exceptions-from-aws-services
+        # 404 for NoSuchKey - https://github.com/boto/boto3/issues/2442
+        if ce.response["Error"]["Code"] == "404":
+            get_log().debug("s3_key_not_found", path=path, info=f"The specified key does not seem to exist: {ce}")
+            return False
         get_log().error("s3_client_error", path=path, error=f"ClientError raised: {ce}")
         raise ce
 
diff --git a/scripts/files/tests/fs_s3_test.py b/scripts/files/tests/fs_s3_test.py
index d41ee008c..8eac507b7 100644
--- a/scripts/files/tests/fs_s3_test.py
+++ b/scripts/files/tests/fs_s3_test.py
@@ -99,3 +99,15 @@ def test_exists_object_not_exists() -> None:
     file_exists = exists("s3://testbucket/test.file")
 
     assert file_exists is False
+
+
+@mock_s3  # type: ignore
+def test_exists_object_starting_with_not_exists() -> None:
+    s3 = boto3.resource("s3", region_name=DEFAULT_REGION_NAME)
+    client = boto3.client("s3", region_name=DEFAULT_REGION_NAME)
+    s3.create_bucket(Bucket="testbucket")
+    client.put_object(Bucket="testbucket", Key="hello/another.file", Body=b"test content")
+
+    file_exists = exists("s3://testbucket/hello/another.fi")
+
+    assert file_exists is False