Ms. Brooke Hales reports

TD BANK GROUP ANNOUNCES INTENTION TO PURCHASE FOR CANCELLATION UP TO 100 MILLION OF ITS COMMON SHARES

Subject to the completion of its previously announced sale of its entire equity investment in The Charles Schwab Corp., the approval of the Office of the Superintendent of Financial Institutions Canada and the approval of the Toronto Stock Exchange (TSX), Toronto-Dominion Bank intends to launch a normal course issuer bid to purchase for cancellation up to 100 million of its common shares, representing approximately 5.7 per cent of its issued and outstanding common shares and its public float as at Oct. 31, 2024. TD will file a notice of intention with the TSX in this regard.

TD may commence purchases under the normal course issuer bid through the facilities of the TSX or other designated exchanges and published markets in Canada, continuing for up to one year after the TSX has accepted the notice of intention. Additionally, repurchases may be made through the facilities of the New York Stock Exchange or other designated exchanges and published markets in the United States. The purchases will be made in accordance with applicable securities laws and regulatory requirements. The price paid for such purchased common shares will be the market price of such common shares at the time of acquisition, or such other price as may be permitted by the TSX. All purchased common shares will be cancelled. The timing and amount of any such purchases are subject to regulatory approvals and to management discretion based on factors such as market conditions and capital adequacy.

As at Oct. 31, 2024, the bank's Common Equity Tier 1, Tier 1, Total Capital and Leverage ratios were 13.11 per cent, 14.78 per cent, 16.76 per cent and 4.19 per cent, respectively.

About Toronto-Dominion Bank

TD Bank is the sixth-largest bank in North America by assets and serves over 27.9 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, TD Auto Finance U.S. and TD Wealth (U.S.); 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 $2.06-trillion in assets on Oct. 31, 2024.

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