Ms. Brooke Hales reports

TD BANK GROUP PROVIDES INSURANCE CATASTROPHE INFORMATION

Toronto-Dominion Bank expects catastrophe claims of approximately $388-million after reinsurance and before tax to be reflected in the bank's wealth management and insurance segment's fourth quarter results.

Catastrophe claims are insurance claims that relate to any single event that occurred in the relevant fiscal quarter, for which the aggregate insurance claims are equal to or greater than an internal threshold of $5-million before reinsurance. The bank's internal threshold may change from time to time. The total amount of catastrophe claims presented reflects the estimated pretax cost of these claims net of recoveries from related reinsurance coverage and, when applicable, includes the cost of reinsurance reinstatement premiums. The total amount of catastrophe claims is included in insurance service expenses, and amounts related to reinsurance coverage are included in other income (loss) on the bank's consolidated statement of income.

Additional information about the bank's insurance catastrophe claims (including catastrophe claims, net of reinsurance for the comparative quarter) is available on its website. Going forward, TD intends to provide this type of catastrophe claims information each quarter, by issuing a news release approximately five days after the end of the fiscal quarter. The bank also intends to make such information available on its website.

Quarterly earnings announcement

TD will release its fourth quarter financial results and host an earnings conference call on Thursday, Dec. 5, 2024.

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. and 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 service firms, with more than 17 million active on-line and mobile customers. TD had $1.97-trillion in assets on July 31, 2024. Toronto-Dominion trades under the symbol TD on the Toronto and New York stock exchanges.

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