Toronto-dominion Bank · TSX:TD
Toronto-dominion Bank — TD Bank Group — Q3 2026 Earnings Presentation
51 slides from Toronto-dominion Bank's earnings presentation, 2026
Slide 1: TD Bank Group – Q3 2026
Investor Presentation TD Bank Group – Q3 2026 Title Slide SECTION ONE
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements From time to time, TD Bank Group ("TD" or the "Bank") makes written and/or oral forward-looking statements, including in this document, in other filings with Canadian regulators or the United States (U.S.) Securities and Exchange Commission (SEC), and in
Slide 3: TD Bank Group
TD Bank Group Overview of TD Bank Group Credit Update Strong Balance Sheet & Capital Position 2 — TD INVESTOR PRESENTATION Q3 2026 NB: Explanatory endnotes are included on Slides 44-49.
Slide 4: TD Snapshot
TD Snapshot Our Businesses Canadian Personal & Commercial Banking Personal banking, credit cards and auto finance Small business, commercial banking, merchant solutions and equipment finance U.S. Banking Canadian Wealth Personal banking, credit cards and auto finance Q3 2026 P&C U.S. Mgmt. &
Slide 5: Top North American Bank
Top 10 North American Bank1 Canadian North American Q3 2026 (C$ except otherwise noted) TD Bank Group Ranking2 Ranking3 Total assets $2,112B 2nd 6th Total deposits $1,261B 2nd 6th Market capitalization $275.3B 2nd 6th Reported net income (trailing four quarters) $16.2B 2nd 6th Adjusted net income4 (
Slide 6: Scaled, Diversified North American Bank
Scaled, Diversified North American Bank Four Key Business Lines Canadian Personal & Commercial Banking Q3 2026 Reported Earnings Mix1 The Personal Bank is a premier retail banking franchise delivering personalized solutions through a full suite of products and services across deposits, investing,
Slide 7: Deeper, Faster, Disciplined
Deeper, Faster, Disciplined Deeper Relationships Simpler & Faster Disciplined Execution Canadian Personal Banking again Over 20,000 client-facing colleagues in Driving structural cost reductions while achieved record penetration rates for Canada now supported by Gen AI Virtual accelerating investmen
Slide 8: Canadian P&C Banking – F'26 Strategic Priorities
Canadian P&C Banking – F'26 Strategic Priorities Deeper Relationships Simpler & Faster Disciplined Execution Outgrow Canadian population growth in Modernize and automate processes and Leverage automation, digital tools and AI- net new clients and lead in core banking platforms, and leverage AI to de
Slide 9: U.S. Banking – F'26 Strategic Priorities
U.S. Banking – F'26 Strategic Priorities Deeper Relationships Simpler & Faster Disciplined Execution Reimagine retail, providing capacity to Continue balance sheet restructuring Continue remediating the U.S. BSA/AML deliver advice enabled by digital efforts that simplify the business program and str
Slide 10: Wealth Management & Insurance – F'26 Strategic Priorities
Wealth Management & Insurance – F'26 Strategic Priorities Deeper Relationships Simpler & Faster Disciplined Execution Deepen client relationships with CPB, Simplify client experiences in Wealth by Reduce structural costs in Wealth CBB and TD Insurance, and drive referrals deploying new self-serve, d
Slide 11: Wholesale Banking – F'26 Strategic Priorities
Wholesale Banking – F'26 Strategic Priorities Deeper Relationships Simpler & Faster Disciplined Execution Strengthen client relationships by aligning Continue to simplify organizational Strengthen risk management and resources to priority sectors structure and hire top talent compliance by increasin
Slide 12: Q3 2026 Performance
Q3 2026 Performance Net Income EPS PTPP1 Growth (YoY) Total Assets Reported: $4.6B Reported: $2.74 Reported: 24.1% $2.1T Adjusted1: $4.7B Adjusted1: $2.77 Adjusted1: 16.9% Efficiency Ratio ROE ROTCE1,2 CET1 Reported: 50.2% Reported: 15.8% Reported: 19.0% 14.3% Adjusted, Net of ISE1: 55.2% Adjusted1:
Slide 13: Accelerating AI Leadership
Accelerating AI Leadership Focused investment on key transformation initiatives Ahead of pace on AI targets1 Retail End-to- Scale AI across the credit journey to create simpler & Medium-term target value End Credit faster client experiences ~$500MM & ~$500MM Annualized Annualized Software Transform
Slide 14: U.S. BSA / AML Remediation
U.S. BSA / AML Remediation1 Work on management remediation actions, including demonstrated sustainability, will continue through 2026 and 2027 2024 2025 2026 2027 2028 Internal Audit Validation and Monitor and Regulatory Engagement Following Monitor and Regulatory Review, additional management remed
Slide 15: Digital leadership enables deeper engagement and growth
Digital leadership enables deeper engagement and growth Canada1,2 U.S.1,2 Home & Auto Insurance1 Clients Digitally Engaged Mobile Users (millions)3 Mobile Users (millions)3 (% of total customers)5 +5.4% +0.7% +500 bps 8.9 5.2 5.2 75.9 80.9 8.4 11 6+ 90+ Q3/25 Q3/26 Medium-term Q3/25 Q3/26 Medium-ter
Slide 16: Q3 2026 Brand and Sustainability Highlights
Q3 2026 Brand and Sustainability Highlights Sustainability Highlights Announced carbon removal agreements with Deep Sky & Climeworks Ranked #1 on TIME’s 2026 Canada’s Recognized as a certified Great Place to Work (U.S.)1 Best Companies List TD Insurance launched exclusive partnership 2025 Sustainabi
Slide 17: TD Bank Group
TD Bank Group Overview of TD Bank Group Credit Update Strong Balance Sheet & Capital Position 16 — TD INVESTOR PRESENTATION Q3 2026
Slide 18: Well-reserved for elevated economic and credit uncertainty
Well-reserved for elevated economic and credit uncertainty Allowance Coverage Ratio (bps)1 140 126 120 101 100 97 99 95 97 96 89 86 74 2 2 Q1’20 2020 2021 2022 2023 2024 2025 Q1'26 Q2'26 Q3'26 17 — TD INVESTOR PRESENTATION Q3 2026
Slide 19: History of strong credit quality
History of strong credit quality Net impaired loans and PCL ratios (bps) Net impaired loans as a % of net loans and acceptances (bps) Provision for credit losses as a % of net average loans and acceptances (bps) 100 46 45 47 41 43 43 38 39 37 32 34 41 37 40 41 39 37 33 36 37 20 25 24 14 IFRS 91 -3 Q
Slide 20: Gross Lending Portfolio
Gross Lending Portfolio Period-End Balances ($B unless otherwise noted) Q2/26 Q3/26 Canadian Personal and Commercial Portfolio 623.3 632.1 Personal 482.8 488.2 Residential Mortgages 250.8 242.0 Home Equity Lines of Credit (HELOC) 164.2 177.2 Indirect Auto 32.3 33.0 Credit Cards 22.5 23.0 Other Perso
Slide 21: Allowance for Credit Losses (ACL)
Allowance for Credit Losses (ACL) ACL1: $B and Coverage Ratios2 Highlights 103 101 99 97 96 bps ACL increased $105 million quarter-over-quarter, United States related to: 9.5 9.6 Canada $9.7 $9.7 9.6 ‒ A $128 million impact of foreign exchange ‒ Performing build reflecting volume growth and 55% 55
Slide 22: Gross Impaired Loans (GIL)
Gross Impaired Loans (GIL) By Business Segment GIL: $MM and Ratios1 Highlights Gross impaired loans decreased 3 basis points 56 56 58 quarter-over-quarter, driven by: 54 51 bps – The U.S. and Canadian Commercial, and Wholesale lending portfolios $5,334 $5,420 $5,594 $5,281 $5,143 $3 / 3 bps $3 / 3
Slide 23: Provision for Credit Losses (PCL)
Provision for Credit Losses (PCL) By Business Segment Highlights PCL: $MM and Ratios1,2,3 Wealth Management & Insurance PCL decreased 6 basis points quarter- Wholesale Banking over-quarter, reflected across: Canadian Personal & Commercial Banking – Wholesale Banking U.S. Banking (net) – U.S. Banki
Slide 24: Provision for Credit Losses (PCL)
Provision for Credit Losses (PCL) Impaired and Performing Highlights PCL1 ($MM) Q3/25 Q2/26 Q3/26 Impaired PCLs decreased quarter-over-quarter, primarily recorded across: Total Bank 971 1,001 917 Impaired 904 973 865 ‒ The business & government lending portfolios Performing 67 28 52 Current quar
Slide 25: Provision for Credit Losses – Impaired
Provision for Credit Losses – Impaired1 By Geographic Location Canada U.S. Total Bank Impaired PCL Rate - Personal 0.30% 0.31% 0.32% 0.31% 0.50% 0.51% 0.50% 0.48% 0.26% 1.22% 1.31% 1.31% 0.45% 1.22% 1.18% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Canad
Slide 26: Canadian Personal Banking
Canadian Personal Banking Highlights Canadian Personal Banking (Q3/26)1 Gross impaired loans stable quarter-over-quarter Gross Loans ($B) GIL ($MM) GIL/Loans (%) Residential Mortgages 242.0 552 0.23 Home Equity Lines of Credit (HELOC) 177.2 244 0.14 Indirect Auto 33.0 117 0.35 Credit Cards 23.0 18
Slide 27: Canadian Real Estate Secured Lending Portfolio
Canadian Real Estate Secured Lending Portfolio Highlights Maturity Schedule ($B)1 Total Canadian real estate secured lending portfolio at $97.9 $422B Variable Rate $97.4 $88.4 $76.9 Fixed Rate $37.6 $18.1 – 90% of RESL portfolio is amortizing4 $26.3 $62.6 $17.3 − 76% of HELOC portfolio is amortizi
Slide 28: Canadian Commercial and Wholesale Banking
Canadian Commercial and Wholesale Banking Highlights Canadian Commercial and Wholesale Banking (Q3/26) Gross impaired loans decreased quarter-over-quarter, driven Gross Loans GIL/Loans GIL ($MM) by: ($B) (%) Commercial Banking1 143.9 982 0.68 – Lower gross impaired loans in the Canadian Commercial
Slide 29: U.S. Personal Banking
U.S. Personal Banking Highlights U.S. Personal Banking (Q3/26) Continued good asset quality in U.S. Personal Banking Gross Loans GIL GIL/Loans In USD unless otherwise specified ($B) ($MM) (%) Residential Mortgages 33.9 388 1.14 Home Equity Lines of Credit (HELOC)1 9.3 235 2.53 Indirect Auto 32.2 2
Slide 30: U.S. Commercial Banking
U.S. Commercial Banking Highlights U.S. Commercial Banking (Q3/26) Gross impaired loans decreased quarter-over-quarter as Gross Loans GIL GIL/Loans resolutions outpaced new formations In USD unless otherwise specified ($B) ($MM) (%) Commercial Real Estate (CRE) 28.4 407 1.43 Non-residential Real E
Slide 31: TD Bank Group
TD Bank Group Key Themes Overview of TD Bank Group Credit Update Strong Balance Sheet & Capital Position 30 — TD INVESTOR PRESENTATION Q3 2026
Slide 32: Capital
Capital1 Disciplined capital and liquidity management QoQ CET1 ratio CET1 ratio 14.3%, down 3 bps QoQ 73 bps Strong adjusted2 earnings net of dividends, partially offset by RWA growth, drove strong adjusted2 organic capital accretion this quarter (30) bps 10 bps 4 bps (22) bps (1) bps Share buyb
Slide 33: Capital
Capital1 Non-CET1 Capital Management Risk-Based TLAC Ratio2 Current Risk-based TLAC Ratio: 31.1%3 13.2% TD’s capital instruments are diversified by structure, market, and Published Minimum Risk-based TLAC Ratio: 24.5% currency, contributing to the resilience and stability of its capital 1.8% posit
Slide 34: Disciplined Liquidity Management
Disciplined Liquidity Management Liquidity Ratios5 Large base of personal and business deposits1 that make up 63% of the Bank's total funding 141% 141% 138% 138% 137% TD Canada Trust ranked #1 in Core Deposits2 – ~80% of 130% 130% 133% clients onboard with a chequing or savings account, 119% power
Slide 35: Strong Credit Ratings
Strong Credit Ratings Issuer Ratings1 Moody's S&P DBRS Fitch Senior Debt3 Ratings A2 A- AA (low) AA- Outlook Stable Stable Stable Stable Moody's S&P Fitch A1 A AA- Senior Debt2 / HoldCo3 Rating A2 A- A+ A3 BBB+ A TD Canadian U.S. TD Canadian U.S. TD Canadian U.S. Peers4 Peers5 Peers4 Peers5 Peers4 P
Slide 36: Low Risk, Deposit Rich Balance Sheet
Low Risk, Deposit Rich Balance Sheet Large base of stable retail and commercial deposits Personal and business deposits are TD's primary sources of funds – Customer service business model delivers stable base of “sticky” and franchise deposits Wholesale funding profile reflects a balanced secure
Slide 37: Wholesale Term Debt Composition
Wholesale Term Debt Composition Funding Strategy Wholesale term funding through diversified sources across domestic and international markets Manage to a stable funding profile that emphasizes funding assets and contingencies to the appropriate term Well-established C$100B Legislative Covered
Slide 38: TD Global Legislative Covered Bond Program
TD Global Legislative Covered Bond Program Key Highlights Covered Bond Collateral Canadian residential real estate property with no more than 4 residential units Uninsured conventional first lien assets with original loan to value ratio that is 80% or less Housing Market Risks Latest property
Slide 39: TD Global Legislative Covered Bond Program
TD Global Legislative Covered Bond Program Highlights Remaining Term 27% Pool comprises 100% uninsured 1st lien Canadian Residential Mortgages originated by TD 19% 15% All loans have original LTVs of 80% or lower. Current weighted average LTV is 58.22%1 11% 12% 7% 8% The weighted average of no
Slide 40: Bail-in Overview
Bail-in Overview Step 1: Step 2: Step 3: Scope of Bail-in Pre-loss balance Losses diminish Convert NVCC then, sheet assets and equity if applicable, bail-in In Scope Liabilities. Senior unsecured long-term debt (original term to maturity of 400 or more days) that debt into equity is tradable and t
Slide 41: Limited Recourse Capital Notes (LRCNs)
Limited Recourse Capital Notes (LRCNs) LRCN Overview LRCN holders’ interests rank equally with other LRCNs and Preferred Shares and are senior to common shares. LRCNs are issued only to institutional investors with no trading restrictions within the U.S. nor, after 4 months, within Canada LRCNs
Slide 42: Non-Viability Contingent Capital (NVCC)
Non-Viability Contingent Capital (NVCC) Credit hierarchy is codified as a principle in regulatory and legislative documents in Canada In March 2023, OSFI issued this statement illustrating regulatory intent of the Point of Non-Viability trigger occurs when OSFI determines the bank is no longer v
Slide 43: Net Interest Income Sensitivity (NIIS)
Net Interest Income Sensitivity (NIIS) Strong deposit base and disciplined ALM management NII impact from 25 bps change in short-term interest rates1,2 NII impact from 100 bps change in interest rates across the curve1,2 ($ in CAD Q3'26 Q2'26 ($ in CAD Q3'26 Q2'26 MM) +25bps -25bps +25bps -25bps MM)
Slide 44: Endnotes
Endnotes 43 — TD INVESTOR PRESENTATION Q3 2026
Slide 45: Endnotes on Slides 3 to 6
Endnotes on Slides 3 to 6 Slide 3 1. Deposits based on total of average personal and business deposits during the quarter. U.S. Banking includes Schwab Insured Deposit Accounts (IDAs). 2. Total Loans based on total of average personal and business loans during the quarter. 3. Includes assets under a
Slide 46: Endnotes on Slides 11 to 14
Endnotes on Slides 11 to 14 Slide 11 1. Please refer to Slide 4, Endnote 3. 2. Please refer to Slide 3, Endnote 4. 3. Please refer to Slide 6, Endnote 2. 4. The Bank’s expectations regarding expense growth are based on the Bank’s assumptions regarding certain factors, including governance and contro
Slide 47: Endnotes on Slides 17 to 25
Endnotes on Slides 17 to 25 Slide 17 1. Total allowance for credit losses as a % of gross loans. 2. Q1 2020 represents pre-pandemic allowance coverage. 2020 represents peak pandemic allowance coverage. Slide 18 1. Effective November 1, 2017, the Bank adopted IFRS 9, which replaces the guidance in IA
Slide 48: Endnotes on Slides 26 to 33
Endnotes on Slides 26 to 33 Slide 26 1. Excludes revolving HELOC, Wholesale mortgage portfolio. 2. Please refer to Slide 25, Endnote 2. 3. Please refer to Slide 25, Endnote 3. 4. Amortizing includes loans where the fixed contractual payments are no longer sufficient to cover the interest based on th
Slide 49: Endnotes on Slides 34 to 40
Endnotes on Slides 34 to 40 Slide 34 1. As of July 31, 2026. Credit ratings are not recommendations to purchase, sell, or hold a financial obligation in as much as they do not comment on market price or suitability for a particular investor. Ratings are subject to revision or withdrawal at any time
Slide 50: Endnotes on Slides 41 to 43
Endnotes on Slides 41 to 43 Slide 42 1. Numbers may not add due to rounding. 2. Excludes banking book in Wholesale Banking segment. Q3'26 NII impact from 100bps change in interest rates across the curve for banking book in Wholesale Banking is: (C$3MM) for CAD +100bps, C$3MM for CAD -100bps, (C$102M
Slide 51: Investor Relations Contacts
Investor Relations Contacts Phone: (416) 308-9030 or 1 (866) 486-4826 Email: tdir@td.com Website: www.td.com/investor 50 — TD INVESTOR PRESENTATION Q3 2026