Ms. Brooke Hales reports

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

Toronto-Dominion Bank expects The Charles Schwab Corp.'s first quarter earnings to translate into approximately $74-million of reported equity in net income of an investment in Schwab for the bank's fiscal 2025 second quarter. Excluding amortization of acquired intangibles of approximately $9-million after tax, adjusted equity in net income of an investment in Schwab will be approximately $83-million. The share of net income from investment in Schwab and the foreign exchange impact are reported with a one-month lag.

On Feb. 12, 2025, the bank announced the closing of the sale of its entire equity investment in Schwab, consisting of 184,678,738 shares of Schwab's common stock representing 10.1-per-cent economic ownership.

TD Bank Group will release its second quarter financial results and host an earnings conference call on May 22, 2025. Conference call and audio webcast details will be announced closer to that date.

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 27.9 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; U.S. retail, including TD Bank, America's Most Convenient 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 service firms, with more than 17 million active on-line and mobile customers. TD had $2.09-trillion in assets on Jan. 31, 2025. TD trades under the symbol TD on the Toronto and New York stock exchanges.

We seek Safe Harbor.