Ms. Jennifer dela Cruz reports

TD BANK GROUP DECLARES DIVIDENDS

Toronto-Dominion Bank has declared a dividend in an amount of $1.02 per fully paid common share in the capital stock of the bank for the quarter ending April 30, 2024, payable on and after April 30, 2024, to shareholders of record at the close of business on April 9, 2024.

In lieu of receiving their dividends in cash, holders of the bank's common shares may choose to have their dividends reinvested in additional common shares of the bank in accordance with the dividend reinvestment plan.

Under the plan, the bank has the discretion to either purchase the additional common shares in the open market or issue them from treasury. If issued from treasury, the bank may decide to apply a discount of up to 5 per cent to the average market price (as defined in the plan) of the additional shares. For the April 30, 2024 dividend, the bank will issue the additional shares from treasury, with no discount.

Registered holders of record of the bank's common shares wishing to join the plan can obtain an enrolment form from TSX Trust Company (1-800-387-0825) or on the bank's website. In order to participate in the plan in time for this dividend, enrolment forms for registered holders must be received by TSX Trust Company at P.O. Box 4229, Postal Station A, Toronto, Ont., M5W 0G1, or by facsimile at 1-888-488-1416, before the close of business on April 9, 2024. Beneficial or non-registered holders of the bank's common shares wishing to join the plan must contact their financial institution or broker for instructions on how to enroll in advance of the aforementioned date.

Registered holders who participate in the plan and who wish to terminate that participation so that cash dividends to which they are entitled to be paid on and after April 30, 2024, are not reinvested in common shares under the plan must deliver written notice to TSX Trust Company at the aforementioned address by no later than April 9, 2024. Beneficial or non-registered holders who participate in the plan and who wish to terminate that participation so that cash dividends to which they are entitled to be paid on and after April 30, 2024, are not reinvested in common shares under the plan must contact their financial institutions or brokers for instructions on how to terminate participation in the plan in advance of April 9, 2024.

The bank has also declared dividends on the following non-cumulative redeemable Class A first preferred shares of the bank, payable on and after April 30, 2024, to shareholders of record at the close of business on April 9, 2024:

• Series 1 -- in an amount per share of 22.8875 cents;
• Series 3 -- in an amount per share of 23.00625 cents;
• Series 5 -- in an amount per share of 24.225 cents;
• Series 7 -- in an amount per share of 20.00625 cents;
• Series 9 -- in an amount per share of 20.2625 cents;
• Series 16 -- in an amount per share of 39.38125 cents;
• Series 18 -- in an amount per share of 35.91875 cents;
• Series 22 -- in an amount per share of 32.5 cents;
• Series 24 -- in an amount per share of 31.875 cents;
• Series 27 -- in an amount per share of $28.75;
• Series 28 -- in an amount per share of $36.16.

The bank, for the purposes of the Income Tax Act (Canada) and any similar provincial legislation, advises that the dividend declared for the quarter ending April 30, 2024, and all future dividends will be eligible dividends unless indicated otherwise.

About Toronto-Dominion Bank

TD 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; U.S. 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 17 million active on-line and mobile customers. TD had $1.91-trillion in assets on Jan. 31, 2024. The bank trades under the symbol TD on the Toronto Stock Exchange and New York Stock Exchange.