Ms. Brooke Hales reports

TD ANNOUNCES RESULTS OF CONVERSION PRIVILEGE OF NON-CUMULATIVE 5-YEAR RATE RESET CLASS A FIRST PREFERRED SHARES, SERIES 1 (NVCC)

None of the Toronto-Dominion Bank's 20 million non-cumulative five-year rate reset Class A first preferred shares, Series 1 (non-viability contingent capital (NVCC)), will be converted on Oct. 31, 2024, into non-cumulative floating rate Class A first preferred shares, Series 2 (NVCC), of TD.

During the conversion period, which ran from Oct. 1, 2024, to Oct. 16, 2024, 312,011 Series 1 shares were tendered for conversion into Series 2 shares, which is less than the minimum one million shares required to give effect to the conversion, as described in the prospectus supplement for the Series 1 shares dated May 28, 2014. As a result, no Series 2 shares will be issued on Oct. 31, 2024, and holders of Series 1 shares will retain their Series 1 shares.

The Series 1 shares are currently listed on the Toronto Stock Exchange under the symbol TD.PF.A. As previously announced on Oct. 1, 2024, the dividend rate for the Series 1 shares for the five-year period from and including Oct. 31, 2024, to but excluding Oct. 31, 2029, will be 4.97 per cent.

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.