Ms. Elizabeth Goldenshtein reports

TD TO APPOINT ALAN MACGIBBON AS CHAIR OF THE BOARD

Toronto-Dominion Bank has appointed Alan MacGibbon as chair of the board of directors, effective Feb. 1, 2024. Mr. MacGibbon will succeed Brian Levitt, who will also retire from the board following the bank's annual meeting of shareholders on April 18, 2024. Mr. Levitt joined the TD board in 2008 and has served as chair since 2011.

"Alan's distinguished business career, and the respect of his board colleagues and TD management will enable him to guide the board into the future," said Mr. Levitt. "I am honoured to have served as chair and thank the board, the senior executive team and TD colleagues for their support and dedication over the years."

"I am grateful for the board's confidence and look forward to working with my fellow directors to build on the bank's success," said Mr. MacGibbon. "On behalf of the board, I want to thank Brian for his service to TD."

Mr. MacGibbon has been an independent director since 2014, has served on the corporate governance committee and has been chair of the audit committee since 2016. Mr. MacGibbon also serves on the TD Bank United States board.

Mr. MacGibbon is the former managing partner and chief executive officer of Deloitte LLP (Canada), and served as global managing director of quality, strategy and communications for Deloitte Touche Tohmatsu Ltd. He holds an undergraduate degree in business administration and an honorary doctorate from the University of New Brunswick. He is a chartered professional accountant, a chartered accountant and a fellow of the Chartered Professional Accountants Ontario.

With Mr. MacGibbon's appointment as board chair, Nancy Tower will be appointed chair of the audit committee. Ms. Tower has been an independent director since June, 2022.

About Toronto-Dominion Bank

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. TD is the sixth-largest bank in North America by assets and serves over 27.5 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian personal and commercial banking, including TD Canada Trust and TD Auto Finance Canada; United States retail, including TD Bank, America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.) and an investment in The Charles Schwab Corp.; wealth management and insurance, including TD Wealth (Canada), TD Direct Investing and TD Insurance; and wholesale banking, including TD Securities. TD also ranks among the world's leading on-line financial services firms, with more than 16 million active on-line and mobile customers. TD had $1.96-trillion in assets on Oct. 31, 2023.