Ms. Alicia Skrinjar reports

TD ASSET MANAGEMENT INC. ANNOUNCES RISK RATING CHANGE FOR TD U.S. LONG TERM TREASURY BOND ETF

Effective Oct. 29, 2025, the risk rating for TD U.S. Long Term Treasury Bond ETF has decreased from "medium to high" to "medium."

There are no changes to the investment objectives, strategies or management of TD U.S. Long Term Treasury Bond ETF associated with the new risk rating.

The risk rating change will be reflected in the TD exchange-traded funds' prospectus and ETF facts that will be filed on or about Oct. 29, 2025.

The risk rating change is based on the standardized risk classification methodology mandated by the Canadian Securities Administrators and the related annual review conducted by TD Asset Management Inc. to determine the risk level of its publicly offered investment funds. A summary of the CSA's risk classification methodology as well as the investment objectives and strategies of TD U.S. Long Term Treasury Bond ETF can be found in the TD exchange-traded funds' prospectus, available on TDAM's website or on SEDAR+.