Mr. Leo Salom reports

TD ANNOUNCES OPENING OF NEW LAYER 6 OFFICE IN NEW YORK CITY

As AI (artificial intelligence) continues to transform how businesses operate, Toronto-Dominion Bank, America's Most Convenient Bank, will open a new Layer 6 office in New York.

As TD's AI research and development centre, Layer 6 has driven TD's ability to deploy advanced machine learning solutions since it was acquired by TD in 2018. Currently operating from its head office in Toronto's Mars innovation district, the new Layer 6 office will now grow to more closely support TD Bank, as well as TD's other United States-based operations. It will also allow TD to take advantage of an expanded pool of world-class talent and further cement its leadership and competitive advantage driving innovation in banking through AI. The Layer 6 office will formally open later in 2025 with a mixture of an initial 20 data scientists, applied machine learning scientists, GenAI implementation specialists and others, who will sit at TD's New York office, One Vanderbilt.

"Our U.S. expansion of Layer 6 underscores our commitment to deepening our presence in New York City and investing in the future of innovation," said Leo Salom, president and chief executive officer of TD Bank. "The new Layer 6 office establishes a strong foundation for advancing our GenAI capabilities and bringing critical expertise and delivery in house. It represents an exciting step forward for TD, our colleagues, our customers and the communities we serve. We look forward to growing this operation to support increasing business demand across the U.S."

TD continues to deploy and scale AI technology to meet both growing customer expectations for personalization, and the business's need to streamline process execution.

"Our commitment to being a leader in the AI space puts TD at the forefront of banking innovation, and Layer 6 is critical to our ability to deliver that innovation for our customers," said Luke Gee, chief analytics and AI officer at TD. "With recent advances in areas like Generative AI, we continue to leverage the potential of this game-changing technology through the work of colleagues across the Bank, with Layer 6 continually driving thought leadership and breaking new ground. We are excited to announce the next major step in this journey."

About TD Bank, America's Most Convenient Bank

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S. by assets, providing over 10 million customers with a full range of retail, small business, and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth. TD Bank is headquartered in Cherry Hill, N.J.

TD Bank is a subsidiary of the Toronto-Dominion Bank, a top 10 North American bank. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol TD.