Toronto-dominion Bank · TSX:TD
Toronto-dominion Bank — The Toronto-Dominion Bank — Q2 2026 Earnings Presentation
46 slides from Toronto-dominion Bank's earnings presentation, May 28, 2026
Slide 1: Quarterly Results Presentation
Quarterly Results Presentation TD Bank Group – Q2 2026 – May 28, 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: Q2 2026 Performance
Q2 2026 Performance Net Income EPS2 PTPP1,3 Growth (YoY) Total Assets Reported: $4.3B Reported: $2.43 Reported: (49.8%) $2.1T Adjusted1: $4.2B Adjusted1: $2.38 Adjusted1: 11.7% Efficiency Ratio2 ROE2 ROTCE2 CET14 Reported: 53.0% Reported: 14.7% Reported: 17.7% 14.3% Adjusted, Net of ISE1: 57.0% Adju
Slide 4: Strong Momentum Across our Businesses
Strong Momentum Across our Businesses Canadian Personal & Commercial Banking U.S. Banking ▪ Record Q2 revenue, PTPP1, and earnings ▪ Continued progress on AML remediation, our #1 priority ▪ RESL loans up 5% YoY, focusing on speed and specialization driving ▪ Loans down 7% YoY, or up 3% YoY excluding
Slide 5: Deeper, Faster, Disciplined
Deeper, Faster, Disciplined Deeper Relationships Simpler & Faster Disciplined Execution Canadian Personal Banking generated Realigning Small Business Banking to U.S. Banking ROE 8.2% (Adj2 9.6%) ~$9B in closed referrals to Wealth this Canadian Personal Banking to accelerate and Wholesale Banking ROE
Slide 6: Driving Structural Cost Reduction and AI Leadership
Driving Structural Cost Reduction and AI Leadership Targeting ~$2-2.5B annualized savings over Adopting AI at scale medium-term1 Medium-term target value2 Distribution Technology & Data Transformation Modernization ~$500MM & ~$500MM Annualized Annualized ~$350-450MM ~$350-400MM Revenue Uplift Cost S
Slide 7: Q2 2026 Brand and Sustainability Highlights
Q2 2026 Brand and Sustainability Highlights Strong Employer Brand Sustainability Highlights ▪ Issued two green bonds totaling ~$1.8B across Canadian and European markets ▪ First bank to join CleanAI Initiative to advance AI solutions creating sustainable outcomes 2025 Sustainability Report ▪ Through
Slide 8: U.S. BSA / AML Remediation
U.S. BSA / AML Remediation1 Work on management remediation actions, including demonstrated sustainability, will continue through 2026 and 2027 2024 2025 2026 2027 2028 Internal Audit Validation and Monitor and Regulatory Engagement Following Monitor and Regulatory Review, additional management remed
Slide 9: Q2 2026 Highlights
Q2 2026 Highlights P&L ($MM) Q2/26 QoQ YoY Reported Strong quarter Revenue 15,797 -5% -31% Insurance Service Expenses (ISE) 1,398 -14% -1% EPS of $2.43 (Adj1 $2.38, up 21% YoY) Revenue, net of ISE1,2 14,399 -4% -33% PTPP1 $7.4B (Adj1 $5.8B, up 12% YoY, excl. U.S. strategic cards portfolio PCL 1,001
Slide 10: Canadian Personal & Commercial Banking
Canadian Personal & Commercial Banking P&L ($MM) Q2/26 QoQ YoY Record Q2 revenue, PTPP1, & earnings Revenue 5,256 -3% 5% PCL 498 +$62 -$124 Net income up 15% YoY; PTPP1 up 8% YoY Impaired 465 +$41 +$37 Revenue up 5% YoY Performing 33 +$21 -$161 Expenses 2,088 -3% 2% ▪ Volume growth and higher margin
Slide 11: U.S. Banking
U.S. Banking P&L (US$MM) (except where noted) Q2/26 QoQ YoY Reported Sustained business momentum Revenue 2,762 -6% 42% PCL 250 $38 -$61 Net income up >100% YoY (Adj1 up 12% YoY) Impaired 243 -$41 +$27 PTPP1 up >100% YoY (Adj1 up 1% YoY) Performing 7 +$79 -$88 Revenue up 42% YoY (Adj1 up 6%) Expenses
Slide 12: Wealth Management & Insurance
Wealth Management & Insurance Record earnings and assets P&L ($MM) Q2/26 QoQ YoY Net income up 18% YoY; PTPP1 up 18% YoY Revenue up 8% YoY Revenue 3,778 -3% 8% Insurance Service Expenses (ISE) 1,398 -14% -1% ▪ Wealth Management: higher fee-based revenues from asset growth and Revenue, net of ISE1 2,
Slide 13: Wholesale Banking
Wholesale Banking Record earnings P&L ($MM) Q2/26 QoQ YoY Reported Revenue 2,393 -3% 12% Net income up 46% YoY (Adj1 up 38% YoY) Global Markets 1,537 -7% 8% PTPP1 up 32% YoY (Adj1 up 26% YoY) Corporate & Investment Banking 891 5% 22% PCL 78 -$94 -$45 Revenue up 12% YoY Impaired 80 -$136 +$19 Perform
Slide 14: Corporate Segment
Corporate Segment P&L ($MM) Q2/26 Q1/26 Q2/25 Reported net income of $64MM (Adj1 net loss of $166MM) Reported ▪ Reported net income includes items of note Net Income (Loss) 64 (359) 8,215 Adjustments for items of note Amortization of acquired intangibles 33 34 43 Restructuring charges - 200 163 Impa
Slide 15: Capital
Capital1 Disciplined capital and liquidity management QoQ CET1 ratio CET1 ratio 14.3%, down 26 bps QoQ 66 bps ▪ Strong adjusted2 earnings net of dividends and modest RWA growth drove (31) bps strong adjusted2 organic capital accretion this quarter (15) bps 1 bps (3) bps (3) bps (41) bps ▪ Share buyb
Slide 16: Gross Impaired Loan Formations
Gross Impaired Loan Formations By Business Segment GIL Formations1: $MM and Ratios2 Highlights ▪ Gross impaired loan formations decreased 26 23 27 21 22 bps 5 basis points quarter-over-quarter, driven by: $2,579 – Wholesale and U.S. Banking segments $2,433 $2,177 $371 / $317 / $66 / 7 bps 38 bps $2,
Slide 17: Gross Impaired Loans (GIL)
Gross Impaired Loans (GIL) By Business Segment GIL: $MM and Ratios1 Highlights ▪ Gross impaired loans decreased 4 basis points quarter-over-quarter, mainly driven by: 56 56 58 54 bps 51 – Wholesale Banking segment $5,420 $5,594 $5,334 $5,281 $3 / 3 bps $3 / 3 bps $4,866 $4 / 5 bps $3 / 3 bps $5 / 7
Slide 18: Provision for Credit Losses (PCL)
Provision for Credit Losses (PCL) By Business Segment Highlights PCL: $MM and Ratios1,2,3 Wealth Management & Insurance ▪ PCL stable quarter-over-quarter Wholesale Banking $1,341 Canadian Personal & Commercial Banking $123 U.S. Banking (net) Corporate $1,039 $982 $1,001 $971 $71 $24 $172 $78 $622 $4
Slide 19: Provision for Credit Losses (PCL)
Provision for Credit Losses (PCL) Impaired and Performing Highlights PCL1 ($MM) Q2/25 Q1/26 Q2/26 ▪ Impaired PCLs decreased quarter-over-quarter, recorded in: Total Bank 1,341 1,039 1,001 Impaired 946 1,164 973 ‒ The Wholesale Banking, U.S. Banking, and Corporate segments Performing 395 (125) 28 Can
Slide 20: Allowance for Credit Losses (ACL)
Allowance for Credit Losses (ACL) ACL1: $B and Coverage Ratios2 Highlights 103 101 101 99 ▪ ACL decreased $147 million quarter-over-quarter, 97 bps United States reflecting: $9.7 $9.6 Canada $9.6 $9.7 $9.5 ‒ Lower impaired allowance in Wholesale Banking 56% 55% 55% 54% 53% ‒ Partially offset by a pe
Slide 21: Appendix
Appendix 20 — TD QUARTERLY RESULTS PRESENTATION
Slide 22: Q2 2026: Items of Note
Q2 2026: Items of Note ($MM) EPS ($) Segment SFI Reference1 Pre-Tax After-Tax Reported net income and EPS (diluted) 4,251 2.43 Items of note Amortization of acquired intangibles 33 25 0.01 Corporate Page 4, L13, L27 & L41 Impact from the terminated FHN acquisition-related capital 43 33 0.02 Corporat
Slide 23: U.S. Strategic Cards Portfolio
U.S. Strategic Cards Portfolio Illustrative Example of Accounting Assuming 10% decrease in partner share* ($MM) Mechanics: Before After Credit Card Portfolio 1,000 • TD collects revenue. Credit Loss Reserve 100 100 • TD establishes a reserve for the total Revenue 150 Partners' Share 80% 70% credit l
Slide 24: Q2 2026: PTPP & Operating Leverage
Q2 2026: PTPP1 & Operating Leverage1 Modified for partners' share of SCP PCL, FX and Insurance Service Expense TOTAL BANK Q2 2026 Q1 2026 Q2 2025 SFI Reference Revenue Expenses Revenue Expenses Revenue Expenses Reported Results ($MM) 15,797 8,372 16,585 8,753 22,937 8,139 Page 2, L3 & L6 1 PTPP1 7,4
Slide 25: Net Interest Income Sensitivity (NIIS)
Net Interest Income Sensitivity (NIIS) Strong deposit base and disciplined ALM management NII impact from 25 bps change in short-term interest rates1,2 NII impact from 100 bps change in interest rates across the curve1,2 ($ in CAD Q2'26 Q1'26 ($ in CAD Q2'26 Q1'26 MM) MM) +100bps -100bps +100bps -10
Slide 26: 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 +4.5% +1.3% +610 bps 8.8 5.2 5.2 74.0 80.1 8.4 11 6+ 90+ Q2/25 Q2/26 Medium-term Q2/25 Q2/26 Medium-ter
Slide 27: Canadian Personal & Commercial Banking
Canadian Personal & Commercial Banking Margins, Volumes and Efficiency Net Interest Margin (NIM) Average Loans ($B)1 585 594 607 615 618 2.85% 128 129 131 134 136 2.81% 2.82% 2.83% 2.82% 2.83% 458 464 475 482 482 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Personal Commercial E
Slide 28: U.S. Banking
U.S. Banking Margins, Volumes and Efficiency Net Interest Margin (NIM) Average Loans (US$B)2 187 180 177 175 173 3.38% 3.41% 93 91 87 84 90 160 160 163 164 164 3.20% 3.05% 3.12% 3.19% 3.25% 2.86% 3.04% 93 89 90 91 84 3.00% Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 1 Reported
Slide 29: Wealth Management & Insurance
Wealth Management & Insurance Volumes and Efficiency Gross Written & Collected Premiums1 ($MM) Average Loans ($B) 2,011 1,927 8.1 8.3 1,602 1,502 1,582 7.2 7.0 7.4 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Efficiency Ratio Average Deposits ($B) Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 WM&I 32
Slide 30: Wealth Management & Insurance
Wealth Management & Insurance Wealth Revenue & NIAT ($MM) Wealth Assets ($B) 2,000 800 797 759 771 316 333 350 700 709 1,600 299 291 654 643 261 253 216 601 610 210 600 572 214 542 1,200 574 557 558 500 521 800 480 400 400 300 1,164 1,228 1,291 1,324 1,317 0 200 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q2/25 Q
Slide 31: Wholesale Banking
Wholesale Banking Q2/26 Revenue Q2/26 Loans1 -1% 4% 37% $2.4B 43% $100.0B 53% 64% Global Markets Corporate and Other2 Investment Canada United States International Banking 30 — TD QUARTERLY RESULTS PRESENTATION
Slide 32: Gross Lending Portfolio
Gross Lending Portfolio Period-End Balances ($B unless otherwise noted) Q1/26 Q2/26 Canadian Personal and Commercial Portfolio 619.3 623.3 Personal 482.1 482.8 Residential Mortgages 258.8 250.8 Home Equity Lines of Credit (HELOC) 156.4 164.2 Indirect Auto 32.0 32.3 Credit Cards 21.9 22.5 Other Perso
Slide 33: 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 $100.4 $418B Variable Rate $87.8 $81.0 Fixed Rate $38.9 $18.8 – 91% of RESL portfolio is amortizing4 $48.9 $56.5 $50.3 $16.6 $18.9 − 76% of HELOC portfolio is a
Slide 34: Canadian Personal Banking
Canadian Personal Banking Highlights Canadian Personal Banking (Q2/26)1 ▪ Continued good asset quality in Canadian Personal Banking Gross Loans ($B) GIL ($MM) GIL/Loans (%) Residential Mortgages 250.8 512 0.20 Home Equity Lines of Credit (HELOC) 164.2 244 0.15 Indirect Auto 32.3 134 0.42 Credit Card
Slide 35: Canadian Commercial and Wholesale Banking
Canadian Commercial and Wholesale Banking Highlights Canadian Commercial and Wholesale Banking (Q2/26) ▪ Gross impaired loans decreased quarter-over-quarter, driven Gross Loans GIL/Loans GIL ($MM) by: ($B) (%) Commercial Banking1 140.5 1,004 0.71 – Wholesale Banking portfolio Wholesale Banking 104.7
Slide 36: U.S. Personal Banking
U.S. Personal Banking Highlights U.S. Personal Banking (Q2/26) ▪ Lower gross impaired loans in U.S. Personal Banking Gross Loans GIL GIL/Loans driven by Cards and RESL portfolios In USD unless otherwise specified ($B) ($MM) (%) Residential Mortgages 33.8 378 1.12 Home Equity Lines of Credit (HELOC)1
Slide 37: U.S. Commercial Banking
U.S. Commercial Banking Highlights U.S. Commercial Banking (Q2/26) ▪ Gross impaired loans stable quarter-over-quarter Gross Loans GIL GIL/Loans In USD unless otherwise specified ($B) ($MM) (%) Commercial Real Estate (CRE) 27.8 461 1.66 Non-residential Real Estate 17.5 277 1.58 Residential Real Estat
Slide 38: Provision for Credit Losses – Impaired
Provision for Credit Losses – Impaired1 By Geographic Location Canada U.S. Total Bank Impaired PCL Rate - Personal 0.30% 0.31% 0.32% 0.29% 0.49% 0.50% 0.51% 0.50% 0.26% 1.31% 1.31% 0.45% 1.21% 1.22% 1.22% Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q2'25 Q3/25 Q4/25 Q1/26 Q2/26 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Canad
Slide 39: Non-Bank Financial Institutions (NBFI)
Non-Bank Financial Institutions (NBFI) Highlights Business & Government Loans Composition ($B) ▪ Gross loans to the financial sector within our business & government portfolio represents $61.9 Financials ($B) $61.9B – Of which: $34.1B are loans to NBFI Investment Funds – Five-year average impaired l
Slide 40: Endnotes on Slides 2 to 3
Endnotes on Slides 2 to 3 Slide 2 1. The Bank prepares its Interim Consolidated Financial Statements in accordance with International Financial Reporting Standards (IFRS), the current generally accepted accounting principles (GAAP), and refers to results prepared in accordance with IFRS as the “repo
Slide 41: Endnotes on Slides 4 to 9
Endnotes on Slides 4 to 9 Slide 4 1. Please refer to Slide 2, Endnote 5. 2. Please refer to Slide 2, Endnote 1. 3. Please refer to Slide 2, Endnote 2. 4. Efficiency ratio (net of ISE) is a non-GAAP ratio. The adjustment of insurance service expense (ISE) provides a measure of efficiency that managem
Slide 42: Endnotes on Slides 10 to 17
Endnotes on Slides 10 to 17 Slide 10 1. Please refer to Slide 2, Endnote 1. 2. Please refer to Slide 3, Endnote 3. 3. Please refer to Slide 2, Endnote 2. 4. Net interest margin is calculated by dividing U.S. Banking segment’s net interest income by average interest-earning assets excluding the impac
Slide 43: Endnotes on Slides 18 to 26
Endnotes on Slides 18 to 26 Slide 18 1. PCL-impaired represents Stage 3 PCL under IFRS 9, performing represents Stage 1 and Stage 2 on financial assets, loan commitments, and financial guarantees. Slide 19 1. U.S. allowance includes international portfolio. 2. Coverage Ratio: Total allowance for cre
Slide 44: Endnotes on Slides 27 to 34
Endnotes on Slides 27 to 34 Slide 27 1. Please refer to Slide 2, Endnote 1. 2. Numbers may not add due to rounding. 3. Insured deposit accounts. Slide 28 1. Gross written premiums for home and auto insurance and collected premiums for life and health insurance. 2. Please refer to Slide 2, Endnote 1.
Slide 45: Endnotes on Slides 35 to 37
Endnotes on Slides 35 to 37 Slide 35 1. Please refer to Slide 31, Endnote 1. 2. Loan To Value is calculated with the Loan Performance Home Price Index, based on outstanding mortgage balance and/or the HELOC authorized credit limit. Slide 36 1. Please refer to Slide 34, Endnote 2. 2. Please refer to
Slide 46: Investor Relations Contacts
Investor Relations Contacts Phone: (416) 308-9030 or 1 (866) 486-4826 Email: tdir@td.com Website: https://www.td.com/investor-relations 45 — TD QUARTERLY RESULTS PRESENTATION
The Toronto-Dominion Bank — Q2 2026 Earnings Presentation on 6ix