Mr. Chris Fred reports

TD BANK AND TARGET CORPORATION EXTEND U.S. CREDIT CARD PARTNERSHIP AGREEMENT THROUGH 2030

Toronto-Dominion Bank has extended a multiyear contract with Target Corp., in which TD will continue to be the exclusive issuer of Target co-branded and private-label consumer credit cards.

"A decade of partnership has enabled our teams to innovate together and deliver a compelling card program for Target guests," said Chris Fred, head of United States credit cards and unsecured lending, TD Bank. "We are thrilled to continue our collaborative relationship with Target, a leading retailer that shares our growth mindset and sharp focus on the customer."

Earlier this year, Target and TD expanded the RedCard Mastercard program at the point of sale in Target stores and on Target's website, to originate co-branded cards that offer exceptional value for guests. In addition to industry-leading 5-per-cent instant savings available every day at Target, RedCard Mastercard holders can earn 2 per cent on eligible dining and gas purchases and 1 per cent everywhere else.

"RedCard holders are among Target's most engaged guests and have saved more than $9.7-billion over 12 years of Target runs. By deepening our partnership with TD Bank, Target will continue to offer guests meaningful, everyday value through 5-per-cent savings, free shipping from Target's website on most items, extended return times and exclusive offers," said Gemma Kubat, president, financial and retail services, Target.

TD first acquired Target's U.S. credit card portfolio in 2013.

About TD Bank

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank NA, offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth. TD Bank is headquartered in Cherry Hill, N.J.

TD Bank is a member of TD Bank Group and a subsidiary of the Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America.