Toronto-dominion Bank · TSX:TD

Toronto-dominion Bank — TD Bank Group — Q3 2024 Earnings Presentation

85 slides from Toronto-dominion Bank's earnings presentation, August 2024

1. Slide 1: Investor Presentation TD Bank Group Q3 2024

   Investor Presentation TD Bank Group Q3 2024

2. Slide 2: Caution Regarding Forward-Looking Statements

   Caution Regarding Forward-Looking Statements From time to time, the Bank (as defined in this document) 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

3. Slide 3: Key Themes

   TD Bank Group Key Themes Top 10 North American Bank 1 6th largest bank by Total Assets1 6th largest bank by Market Cap1 Q3 2024 Financial Results 2 For the three months ended July 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Balanc

4. Slide 4: Our Strategy

   Our Strategy Proven Business Model Forward-Focused Purpose-Driven Leading Customer Reimagining Financial Relentless Customer Franchises Services Focus Strong Balance Sheet Delivering OneTD Diverse Talent and with Conservative Risk Inclusive Culture Appetite Consistent and Investing for Growth Creati

5. Slide 5: AML Update

   AML Update  TD continues to actively pursue a global resolution of the civil and criminal investigations into its U.S. BSA / AML program  In anticipation of a global resolution, TD has taken a further provision of US$2.6B  TD expects that a global resolution will be finalized by calendar year end

6. Slide 6: Proven Business Model: TD Snapshot

   Proven Business Model: TD Snapshot Diversification and scale, underpinned by a strong risk culture Our Businesses Canadian Personal & Commercial Banking  Personal banking, credit cards and auto finance  Small business, commercial banking, merchant solutions and equipment finance U.S. Retail  Pers

7. Slide 7: Competing in Attractive Markets

   Competing in Attractive Markets Country Statistics Country Statistics  World's 10th largest economy  World’s largest economy  Real GDP of ~C$2.3 trillion  Real GDP of ~US$28 trillion  Population of ~40 million  Population of ~340 million Canadian Banking System U.S. Banking System  One of the

8. Slide 8: Top 10 North American Bank

   Top 10 North American Bank Canadian North American Q3 2024 (C$ except otherwise noted) TD Bank Group Ranking Ranking Total assets $1,967B 2nd 6th Total deposits $1,221B 2nd 6th Market capitalization $142.5B 2nd 6th Reported net income (trailing four quarters) $8.1B 2nd 6th Adjusted net income1 (trai

9. Slide 9: North American Scale Over the Years

   North American Scale Over the Years Increasing Retail Focus and U.S. Expansion 2000-2004 – A Canadian Leader 2005-2010 – Building U.S. Platform 2011-2015 – Acquiring Assets New Capabilities and Partnerships • Acquisition of Canada Trust (2000) • TD Waterhouse USA / Ameritrade • Acquired Chrysler Fin

10. Slide 10: Innovating for our Customers, Colleagues and Communities

    Innovating for our Customers,​ Helping shape the Colleagues and Communities​ future of banking  Advancing our AI ecosystem: Announced agreement with  TD Invent, our enterprise approach to Cohere, a Canadian AI company, enabling TD to accelerate testing innovation: and rollout of Gen AI use cases –

11. Slide 11: Forward Focused: Digital Metrics

    Forward Focused: Digital Metrics Canadian P&C1 U.S. Retail1 Innovating for our Customers Digital Adoption (% of total customers)2 +140 bps +225 bps  On U.S. Mobile App, launched 63.3 64.7 54.4 56.7 personalization features and hub for debit and credit cards Q3/23 Q3/24 Q3/23 Q3/24  Simplified mone

12. Slide 12: Purpose-Driven: Commitment to Sustainability

    Purpose-Driven: Commitment to Sustainability Best Information #1 Customers Security and Fraud Small Business Management Administration (SBA) Environment Social Governance by Global Finance for lending in Maine-to- third consecutive year1 Florida footprint2 Economic ESG Centre $500B Inclusion of Expe

13. Slide 13: Purpose Driven: Q3 2024 ESG Highlights

    Purpose Driven: Q3 2024 ESG Highlights  Named a "Best Place to Work for Disability  Announced the 2024 TD Ready Challenge, Inclusion" in Canada on the 2024 Disability with $10MM in grants available for innovative Equality index, which has expanded to Canada solutions to address systemic barriers f

14. Slide 14: Key Themes

    TD Bank Group Key Themes Top 10 North American Bank 1 6th largest bank by Total Assets1 6th largest bank by Market Cap1 Q3 2024 Financial Results 2 For the three months ended July 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Balanc

15. Slide 15: Q3 2024 Highlights

    Q3 2024 Highlights Record revenue in two segments EPS of $(0.14) P&L ($MM)  Adjusted1 EPS of $2.05, up 5% YoY Reported Q3/24 QoQ YoY Revenue 14,176 3% 10% Revenue up 10% YoY (Adj1 up 8% YoY) PCL 1,072 +$1 +$306  Reported revenue includes the impact of the Impaired 920 +$50 +$257 terminated First H

16. Slide 16: Canadian Personal & Commercial Banking

    Canadian Personal & Commercial Banking Record net income & revenue, with volume growth & strong operating P&L ($MM) leverage Reported Q3/24 QoQ YoY Revenue 5,003 3% 9% Net income up 13% YoY PCL 435 -$32 +$56 Impaired 338 -$59 +$53 Revenue up 9% YoY Performing 97 +$27 +$3 Expenses 1,967 1% 4%  Volum

17. Slide 17: U.S. Retail

    U.S. Retail Operating momentum P&L (US$MM) (except where noted) Reported Q3/24 QoQ YoY Net loss of $1.7B (Adj1 net income of $942MM) Revenue 2,594 2% (1%) PCL 276 -$4 +$91 Revenue down 1% YoY 242 +$13 +$49 Impaired  Lower deposit volumes and loan margins, partially Performing 34 -$17 +$42 offset by

18. Slide 18: Wealth Management & Insurance

    Wealth Management & Insurance Record revenue; net income impacted by severe weather events P&L ($MM) Reported Q3/24 QoQ YoY Net income flat YoY Revenue 3,349 8% 13% Revenue up 13% YoY Insurance Service Expenses 1,669 34% 20% (ISE)  Higher insurance premiums, fee-based revenue, deposit margins and t

19. Slide 19: Wholesale Banking

    Wholesale Banking Continued growth; revenues up on broader & stronger capabilities P&L ($MM) Net income up 17% YoY (Adj1 flat YoY) Reported Q3/24 QoQ YoY Revenue 1,795 (7%) 14% Revenue up 14% YoY Global Markets 1,046 (3%) 8% Investment Banking 777 (11%) 20%  Higher trading-related revenue, lending

20. Slide 20: Corporate Segment

    Corporate P&L ($MM) Segment Reported Q3/24 Q2/24 Q3/23 Reported net loss of $525MM Net Income (Loss) (525) (737) (782)  Adjusted1 loss of $324MM Adjustments for items of note Amortization of acquired intangibles2 64 72 88 Acquisition and integration charges related 21 21 54 to the Schwab transactio

21. Slide 21: Capital

    Capital1 Strong capital and liquidity management supporting future growth Common Equity Tier 1 Ratio (bps) Q2 2024 CET 1 Ratio 13.4% Common Equity Tier 1 ratio of 12.8%  Expected Q4 operational risk RWA impact to Internal capital generation 25 CET1 from Q3 AML investigations provision of Increase i

22. Slide 22: Gross Lending Portfolio

    Gross Lending Portfolio Includes B/As Period-End Balances ($B unless otherwise noted) Q2/24 Q3/24 Canadian Personal & Commercial Portfolio 569.8 577.8 Personal 446.5 452.4 Residential Mortgages 266.4 269.1 Home Equity Lines of Credit (HELOC) 119.2 121.2 Indirect Auto 29.0 29.4 Credit Cards 19.6 20.2

23. Slide 23: Provision for Credit Losses (PCL)

    Provision for Credit Losses (PCL) By Business Segment PCL1: $MM and Ratios2,3,4 Highlights Wealth Management & Insurance $1,071 $1,072  PCL stable quarter-over-quarter Wholesale Banking $1,001 $10 $55 Canadian Personal & Commercial Banking $118 $878 U.S. Retail (net) $766 $57 $25 $423 $467 Corporat

24. Slide 24: Allowance for Credit Losses (ACL)

    Allowance for Credit Losses (ACL) ACL1: $B and Coverage Ratios2 Highlights 91 93 bps 89 89 74 87  ACL increased $288 million quarter-over-quarter, related to: United States – Current credit conditions, $8.8 Canada $8.2 $8.3 $8.6 including: $7.8 − Credit migration 56% 56% $5.3 57% 57% 56% – Volume g

25. Slide 25: Key Themes

    TD Bank Group Key Themes Top 10 North American Bank 1 6th largest bank by Total Assets1 6th largest bank by Market Cap1 Q3 2024 Financial Results 2 For the three months ended July 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Balanc

26. Slide 26: Earnings Performance

    Earnings Performance Earnings (C$B) 5-year CAGR1 -1.3% Reported Earnings (-1.4% EPS) 4.2% Adjusted2 Earnings (4.3% EPS) $17.4 $15.4 $14.6 $15.0 $14.3 $12.2 $12.5 $11.7 $11.9 $11.3 $10.6 $10.0 2018 2019 2020 2021 2022 2023 2 Reported Adjusted 26

27. Slide 27: Strong, Consistent Dividend History

    Strong, Consistent Dividend History Dividends Per Share (C$) $3.84 167-year continuous dividend history Dividend yield1: 5.3% Target payout $0.33 range: 40%-50% Annual Dividend 27

28. Slide 28: Total Shareholder Returns

    Total Shareholder Returns1 TD Bank Canadian North American Group Ranking Ranking One-Year TTM -1.4% 5th 12th Three-Year CAGR 4.0% 3rd 7th Five-Year CAGR 5.7% 4th 9th Ten-Year CAGR 7.9% 4th 8th 28

29. Slide 29: Canadian Personal & Commercial Banking

    Canadian Personal & Commercial Banking Net Income (C$MM) $6,688 $6,558 $5,885 $5,113 $3,996 2019 2020 2021 2022 2023 Q3 2024 Highlights Total Deposits C$464B Branches 1,060 Total Loans C$572B ATMs4 3,424 Earnings1 $7.1B Employees2 28,465 Customers ~15MM Mobile Users3 8.0MM 29

30. Slide 30: Canadian Personal & Commercial Banking

    Canadian Personal & Commercial Banking Personal Banking  #1 or #2 market share in most retail products1  Canadian branch network continues to lead the market in total hours open, while also offering customers the option of virtual and phone appointments in order to meet with our branch advisors re

31. Slide 31: U.S. Retail

    U.S. Retail Reported Net Income (US$MM) $3,967 $4,348 $4,127 $3,750 $2,278 $3,750 $2,278 $3,967 $4,269 $4,319 2019 2020 2021 2022 2023 Adjusted1 Q3 2024 Highlights Total Deposits2 C$435B US$318B Employees4 27,627 Total Loans2 C$264B US$193B Customers5 ~10MM Assets Under Administration C$57B US$41B M

32. Slide 32: U.S. Retail

    U.S. Retail Personal & Commercial Banking Credit Cards  Top 10 bank1 with ~10MM customers2, operating 1,150 retail  Issuer of TD branded credit cards for retail and small business stores and 2,602 ATMs in 15 states and the District of Columbia customers, including:  Diverse range of financing pro

33. Slide 33: Wealth Management & Insurance

    Wealth Management & Insurance Reported Net Income (C$MM) $2,596 $2,423 $2,001 $2,030 $1,750 $1,862 $2,128 $2,596 $2,423 $2,001 2019 2020 2021 2022 2023 Adjusted1 Q3 2024 Highlights Total Deposits2 C$28B Employees5 14,887 Total Loans2 C$7B Customers ~6MM Assets Under Administration3 C$632B Assets Und

34. Slide 34: Wealth Management & Insurance

    Wealth Management & Insurance Wealth  Offers Wealth products and services to retail clients through direct investing, advice-based, and asset management businesses. Wealth Management also offers asset management products to institutional clients globally  TD Asset Management remained the #1 Canadi

35. Slide 35: Wholesale Banking

    Wholesale Banking Reported Net Income (C$MM) $1,570 $1,418 $1,325 $770 $608 $608 $1,418 $1,570 $1,339 $1,115 2019 2020 2021 2022 2023 Adjusted1 Q3 2024 Highlights Average gross lending portfolio2 C$97.4B Earnings3 C$0.9B Employees4 7,018 35

36. Slide 36: Wholesale Banking

    Wholesale Banking Accomplishments  Continued to build an integrated North American Investment Bank with global reach: – Advanced the integration of strategic acquisitions: − On March 1, 2023, TD closed on the acquisition of Cowen Inc. (TD Cowen), accelerating Wholesale Banking's U.S. growth strateg

37. Slide 37: Key Themes

    TD Bank Group Key Themes Top 10 North American Bank 1 6th largest bank by Total Assets1 6th largest bank by Market Cap1 Q3 2024 Financial Results 2 For the three months ended July 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Balanc

38. Slide 38: TD TLAC Requirements

    TD TLAC Requirements  Canadian D-SIBs were required to meet their regulatory TLAC requirements by November 1, 2021.  OSFI has stipulated that D-SIBs will be subject to 2 supervisory ratios: 1. Minimum risk-based TLAC ratio is 25.0% (21.50% + 3.5% Domestic Stability Buffer ("DSB")) 2. TLAC leverage

39. Slide 39: Strong Credit Ratings

    Strong Credit Ratings Issuer Ratings1 Rating Agencies Senior Debt2 Ratings Outlook Moody's A2 Stable S&P A- Stable DBRS AA Negative Fitch AA- Negative Ratings vs. Peer Group1 Moody's Senior Debt2 / HoldCo3 S&P Senior Debt2 / HoldCo3 Fitch Senior Debt2 / HoldCo3 Rating Rating Rating Aa1 AA+ AA+ Aa2 A

40. Slide 40: Strong Non-Common Equity Capital Ratings

    Strong Non-Common Equity Capital Ratings NVCC Tier 2 Subordinated Debt Ratings1 Moody's S&P Fitch A2 A A A3 A- A- Baa1 BBB+ BBB+ Baa2 BBB BBB Baa3 BBB- BBB- Ba1 BB+ BB+ TD Canadian Peers TD TD Canadian Peers 2 TD Canadian Peers2 TD Canadian Peers Canadian Peers2 Canadian Peers TD Additional Tier 1 N

41. Slide 41: Robust Liquidity Management

    Robust Liquidity Management Liquidity Risk Management Framework Liquidity Coverage Ratio (LCR) 140%  Target a 90-day survival horizon under a combined 120% 130% 133% Bank-specific and market-wide stress scenario, 126% 129% and a minimum buffer over regulatory 100% requirements 80%  Manage to a sta

42. Slide 42: Deposit Overview

    Deposit Overview Large base of personal and business deposits1 that make up 70% of the Bank's total funding  TD Canada Trust ranked #1 in Total Personal Non-Term Deposits2 – legendary customer service and the power of One TD  U.S. Retail is a top 103 bank in the U.S. with ~10MM customers4, operati

43. Slide 43: Low Risk, Deposit Rich Balance Sheet

    Low Risk, Deposit Rich Balance Sheet Large base of stable retail and Maturity Profile1,2 (C$B) (To first par redemption date) commercial deposits 80 Issued Maturing 70  Personal and business deposits are TD's primary 60 sources of funds 50 – Customer service business model delivers stable 40 base o

44. Slide 44: Wholesale Term Debt Composition

    Wholesale Term Debt Composition Funding Strategy  Wholesale term funding through diversified sources across domestic and international markets  Well-established C$100B Legislative Covered Bond Program is an important pillar in global funding strategy  Programmatic issuance for the established ABS

45. Slide 45: 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

46. Slide 46: TD Global Legislative Covered Bond Program

    TD Global Legislative Covered Bond Program Cover Pool as at July 31, 2024 Highlights  High quality, conventional first lien Canadian  TD has a C$100B legislative covered bond program Residential mortgages originated by TD  Covered bond issuance for Canadian issuers governed by CMHC-administered g

47. Slide 47: Bail-in Overview

    Bail-in Overview Scope of Bail-in  In Scope Liabilities. Senior unsecured long-term debt (original term to maturity of 400 or more days) that is tradable and transferable (has a CUSIP, ISIN or other similar identification) and issued on or after September 23, 20181. Unlike other jurisdictions, Cana

48. Slide 48: Limited Recourse Capital Notes (LRCN)

    Limited Recourse Capital Notes (LRCN) 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 q

49. Slide 49: Additional Tier 1 Capital

    Additional Tier 1 Capital  Credit hierarchy is codified as a principle in regulatory and legislative documents in Canada  Canadian Point of Non-Viability ("PONV") triggers occur when OSFI determines that the bank is no longer viable or is at risk of failure, including if the bank accepts a capital

50. Slide 50: Appendix: Economic Outlook

    Appendix Economic Outlook 50

51. Slide 51: TD Economics Update

    TD Economics Update1 Global Outlook: Global growth to remain tepid in 2024  Inflation in advanced economies continues to moderate on the back of cooling goods prices. Price growth for services remains elevated, particularly in the U.S. and Canada.  In the euro area, easing inflation enabled the Eu

52. Slide 52: Interest Rate Outlook

    Interest Rate Outlook1 Interest Rates, Canada and U.S.  In July 2023, the Federal Reserve % (Fed) last raised the target for the 7 federal funds rate to 5.25-5.50%. We expect the Fed is nearly ready to U.S. Federal Forecast begin cutting rates, with a total of 75 6 Funds Rate bps in cuts forecasted

53. Slide 53: Appendix: Credit Quality

    Appendix Credit Quality 53

54. Slide 54: Gross Impaired Loan Formations

    Gross Impaired Loan Formations By Business Segment GIL Formations1: $MM and Ratios2 Highlights  Gross impaired loan formations 22 22 bps stable quarter-over-quarter 18 21 18 $2,056 $2,005 $196 / 20 bps $1,937 $1,677 $1,599 $1 / 1 bp $55 / 6 bps $927 / $932 / $805 / 17 bps $678 / 16 bps 14 bps $699

55. Slide 55: Gross Impaired Loans (GIL)

    Gross Impaired Loans (GIL) By Business Segment GIL1: $MM and Ratios2 Highlights 44 bps 40 41  Gross impaired loans 36 33 increased 3 basis points quarter-over-quarter, $4,170 largely recorded in: $3,895 $5 / 7 bps $3,709 $5 / 6 bps – Wholesale Banking $5 / 6 bps and U.S. Commercial $3,299 $27 / $21

56. Slide 56: Credit Quality

    Credit Quality Net impaired loans and PCL ratios (bps) 100 Net impaired loans as a % of net loans and acceptances (bps) Provision for credit losses as a % of net average loans and acceptances (bps) Q3'24 46 56 47 52 50 46 48 46 45 39 39 28 44 38 35 43 32 32 39 38 41 24 37 37 20 25 34 34 33 21 22 28

57. Slide 57: Provision for Credit Losses (PCL)

    Provision for Credit Losses (PCL) Impaired and Performing PCL1,2 ($MM) Highlights Q3/23 Q2/24 Q3/24  Impaired PCL quarter-over- Total Bank 766 1,071 1,072 quarter increase driven by Impaired 663 870 920 Wholesale Banking Performing 103 201 152 Canadian Personal & Commercial Banking 379 467 435  Pe

58. Slide 58: Canadian Personal Banking

    Canadian Personal Banking Canadian Personal Banking (Q3/24)1 Highlights Gross Loans ($B) GIL ($MM) GIL/Loans (%)  Gross impaired loans were Residential Mortgages 269.1 230 0.09 stable quarter-over-quarter Home Equity Lines of Credit (HELOC) 121.2 169 0.14 Indirect Auto 29.4 112 0.38 Credit Cards 20

59. Slide 59: Canadian Real Estate Secured Lending Portfolio

    Canadian Real Estate Highlights Secured Lending Portfolio  Total Canadian real estate secured lending portfolio at $393B Maturity Schedule ($B)1 $112.6 – 92% of RESL portfolio is amortizing4, of $100.0 which 73% of HELOC portfolio is $79.3 $31.0 $8.0 $46.2 amortizing Variable Rate $46.3 Fixed Rate

60. Slide 60: Commercial Real Estate (CRE)

    Commercial Real Estate (CRE) Commercial Real Estate Portfolio Overview: Highlights $97B  Commercial Real Estate represents $97B or 10% of Total Bank gross loans and acceptances1 Office Retail – Portfolio is well diversified across 11% 18% geographies and sub segments Other 6% – 56% of CRE portfolio

61. Slide 61: Canadian Commercial and Wholesale Banking

    Canadian Commercial and Wholesale Banking Canadian Commercial and Wholesale Banking (Q3/24) Highlights Gross Loans/ GIL GIL/Loans BAs ($B) ($MM) (%)  Gross impaired loans Commercial Banking1 125.4 975 0.78 increased quarter-over- Wholesale Banking 95.0 219 0.23 quarter driven by a few impairments i

62. Slide 62: U.S. Personal Banking

    U.S. Personal Banking U.S. Personal Banking (Q3/24) Highlights Gross Loans GIL GIL/Loans In USD unless otherwise specified ($B) ($MM) (%)  Gross impaired loans were Residential Mortgages 42.0 341 0.81 stable quarter-over-quarter Home Equity Lines of Credit (HELOC)1 8.1 190 2.37 Indirect Auto 30.6 2

63. Slide 63: U.S. Commercial Banking

    U.S. Commercial Banking U.S. Commercial Banking (Q3/24) Highlights Gross Loans/ GIL GIL/Loans In USD unless otherwise specified BAs ($B) ($MM) (%)  Gross impaired loans Commercial Real Estate (CRE) 29.4 420 1.43 quarter-over-quarter Non-residential Real Estate 20.1 279 1.39 increase related to a fe

64. Slide 64: Appendix: Additional Information

    Appendix Additional Information 64

65. Slide 65: Q3 2024: PTPP & Operating Leverage

    1,2 1,3 Q3 2024: PTPP & Operating Leverage Modified for partners' share of SCP PCL, FX and Insurance Service Expense Q3 2024 Q2 2024 Q3 2023 TOTAL BANK SFI Reference Revenue Expenses Revenue Expenses Revenue Expenses 1 Reported Results ($MM) 14,176 11,012 13,819 8,401 12,914 7,359 Page 2, L3 & L6 2

66. Slide 66: Completed Restructuring Program

    Completed Restructuring Program Pre-tax restructuring charges  Q4'23: $363MM  Restructuring costs primarily related to:  Q1'24: $291MM  Employee severance and other personnel  Q2'24: $165MM related costs (including a 3% FTE reduction)  Q3'24: $110MM  Real estate optimization  Asset impairmen

67. Slide 67: Endnotes

    Endnotes 67

68. Slide 68: Endnotes on Slides 3-6

    Endnotes on Slides 3-6 Slide 3 1. See Slide 8. 2. See Slide 28. 3. See Slide 39. Slide 6 1. Deposits based on total of average personal and business deposits during the quarter. U.S. Retail includes Schwab Insured Deposit Accounts (IDAs). 2. Total Loans based on total of average personal and busines

69. Slide 69: Endnotes on Slides 7-8

    Endnotes on Slides 7-8 Slide 7 1. Canadian Bankers Association, Fast Facts About the Canadian Banking System. August 2024. 2. As per Canada Mortgage and Housing Corporation (CMHC) Residential Mortgage Industry Data Dashboard. 3. Please refer to Slide 6, Endnote 8. 4. Market share ranking is based on

70. Slide 70: Endnotes on Slides 9-11

    Endnotes on Slides 9-11 Slide 9 1. Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. For more information, please visit https://www.newyorkfed.org/. Slide 11 1. Canadian Personal and Commercial: based on Canadian Personal & Small Business b

71. Slide 71: Endnotes on Slides 12-16

    Endnotes on Slides 12-16 Slide 12 1. Best Consumer Digital Bank in North America by Global Finance, 2023. 2. For 2023, TD Bank ranked #1 in Small Business Administration (SBA) lending in Maine-to-Florida footprint for seventh consecutive year. Lenders ranked by the U.S. SBA based on the SBA's data f

72. Slide 72: Endnotes on Slides 17-19

    Endnotes on Slides 17-19 Slide 17 1. Please refer to Slide 8, Endnote 1. 2. Net interest margin is calculated by dividing U.S. Retail segment’s net interest income by average interest-earning assets. For the U.S. Retail segment, this calculation excludes the impact related to sweep deposits arrangem

73. Slide 73: Endnotes on Slides 20-21

    Endnotes on Slides 20-21 Slide 20 1. Please refer to Slide 8, Endnote 1. 2. Amortization of acquired intangibles relates to intangibles acquired as a result of asset acquisitions and business combinations, including the after-tax amounts for amortization of acquired intangibles relating to the share

74. Slide 74: Endnotes on Slides 22-26

    Endnotes on Slides 22-26 Slide 22 1. U.S. HELOC includes Home Equity Lines of Credit and Home Equity Loans. 2. Includes acquired credit impaired loans and loans booked in the Corporate segment. 3. Includes loans measured at fair value through other comprehensive income. Slide 23 1. Includes acquired

75. Slide 75: Endnotes on Slides 27-30

    Endnotes on Slides 27-30 Slide 27 1. Please refer to Slide 6, Endnote 4. Slide 28 1. Please refer to Slide 6, Endnote 4. Slide 29 1. Please refer to Slide 6, Endnote 5. 2. Please refer to Slide 6, Endnote 6. 3. Please refer to Slide 6, Endnote 9. 4. Please refer to Slide 6, Endnote 8. Slide 30 1. Ma

76. Slide 76: Endnotes on Slides 31-33

    Endnotes on Slides 31-33 Slide 31 1. Please refer to slide 8, Endnote 1. 2. Total Deposits based on total of average personal deposits, business deposits and Schwab Insured Deposit Accounts (IDAs). Total Loans based on total of average personal and business loans. 3. Please refer to Slide 6, Endnote

77. Slide 77: Endnotes on Slides 34-37

    Endnotes on Slides 34-37 Slide 34 1. Investor Economics | A division of ISS Market Intelligence. "Managed Money Advisory Service-Canada" (Spring 2023). Assets under management (AUM) as of June 2023. 2. 2023 Awards An Evening of Excellence, FundGrade Awards 2023, Feb 1, 2024. 3. Investor Economics |

78. Slide 78: Endnotes on Slides 38-42

    Endnotes on Slides 38-42 Slide 38 1. Reflects debt outstanding as at, and converted at FX rate as at July 31st, 2024. 2. Sums may not add up precisely due to rounding. 3. These measures have been calculated in accordance with OSFI's Total Loss Absorbing Capacity (TLAC) guideline. 4. Includes par val

79. Slide 79: Endnotes on Slides 43-46

    Endnotes on Slides 43-46 Slide 43 1. For wholesale term debt that has bullet maturities. 2. Based on first par redemption date. The timing of an actual redemption is subject to management’s view at the time as well as applicable regulatory and corporate governance approvals. 3. Includes Limited Reco

80. Slide 80: Endnotes on Slides 47-52

    Endnotes on Slides 47-52 Slide 47 1. Any non-NVCC preferred shares and non-NVCC subordinated debt issued after September 23, 2018 would also be in scope. 2. In determining the multiplier, CDIC must take into consideration the requirement in the Bank Act for banks to maintain adequate capital and tha

81. Slide 81: Endnotes on Slides 54-57

    Endnotes on Slides 54-57 Slide 54 1. Gross Impaired Loan formations represent additions to Impaired Loans & Acceptances during the quarter; excludes the impact of acquired credit- impaired loans. 2. GIL Formations Ratio: Gross Impaired Loan Formations/Average Gross Loans & Acceptances. Slide 55 1. G

82. Slide 82: Endnotes on Slides 58-60

    Endnotes on Slides 58-60 Slide 58 1. Excludes Wealth Management & Insurance segment and Wholesale mortgage portfolio. 2. RESL Portfolio Current Loan to Value is calculated with the Teranet-National Bank House Price Index™ and weighted by the total exposure, based on outstanding mortgage balance and/

83. Slide 83: Endnotes on Slides 61-63

    Endnotes on Slides 61-63 Slide 61 1. Includes Small Business Banking and Business Credit Cards. 2. Consumer includes: Food, Beverage and Tobacco; Retail Sector. 3. Industrial/Manufacturing includes: Industrial Construction and Trade Contractors; Sundry Manufacturing and Wholesale Banking. 4. Other i

84. Slide 84: Endnotes on Slide 65

    Endnotes on Slide 65 Slide 65 1. Please refer to Slide 8, Endnote 1. 2. Pre-tax, pre-provision earnings (PTPP) is a non-GAAP financial measure that is typically calculated by subtracting expenses from revenues. At the total Bank level, TD calculates PTPP as the difference between adjusted revenue (U

85. Slide 85: Investor Relations Contacts

    Investor Relations Contacts Phone: (416) 308-9030 or 1 (866) 486-4826 Email: tdir@td.com Website: www.td.com/investor 85

TD Bank Group — Q3 2024 Earnings Presentation on 6ix