Ms. Brooke Hales reports

TD BANK GROUP COMMENTS ON EXPECTED IMPACT OF THE CHARLES SCHWAB CORPORATION'S FOURTH QUARTER EARNINGS

Toronto-Dominion Bank (TD Bank Group) expects The Charles Schwab Corp.'s fourth quarter earnings to translate into approximately $141-million of reported equity in net income of an investment in Schwab for the bank's fiscal 2024 first quarter. Excluding acquisition-related charges of approximately $9-million after tax, restructuring charges of approximately $27-million after tax, an FDIC (Federal Deposit Insurance Corp.) special assessment of approximately $22-million after tax and amortization of acquired intangibles of approximately $31-million after-tax, adjusted equity in net income of an investment in Schwab will be approximately $230-million.

TD Bank Group will release its first quarter financial results and host an earnings conference call on Feb. 29, 2024. Conference call and audio webcast details will be announced closer to that date.

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 and TD Cowen. 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.

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