Toronto-dominion Bank · TSX:TD

Toronto-dominion Bank — Q4 2025 Earnings Presentation

72 slides from Toronto-dominion Bank's earnings presentation, 2025

1. Slide 1: Investor Presentation TD Bank Group – Q4 2025

   Investor Presentation TD Bank Group – Q4 2025 Title Slide SECTION ONE

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: TD Bank Group Key Themes

   TD Bank Group Key Themes Top 10 North American Bank 6th largest bank by Total Assets1 6th largest bank by Market Cap1 Q4 2025 Financial Results For the three months ended October 31, 2025 Strong Balance Sheet & Capital Position Highly rated by major credit rating agencies2 2 — TD INVESTOR PRESENTATI

4. Slide 4: Deeper, Faster, Disciplined

   Deeper, Faster, Disciplined Deeper Relationships Simpler & Faster Disciplined Execution In F'25, achieved record personal credit In F'25, implemented ~75 AI use cases In F'25, fraud losses were down 26% card penetration rate in Canada & record that generated $170MM in value. For YoY driven by ongoin

5. Slide 5: U.S. BSA / AML Remediation

   U.S. BSA / AML Remediation1 Completed majority of Management Remediation Actions in 2025 Significant work and important milestones, including demonstrated sustainability, remaining in 2026 and 2027 2024 2025 2026 2027 2028 Internal Audit Validation and Monitor and Regulatory Engagement Following Mon

6. Slide 6: U.S. Balance Sheet Restructuring

   U.S. Balance Sheet Restructuring1 Progress Update As of October 31, 2025, total assets of ~US$382B vs. US$434B asset limitation2  Achieved ~10% asset reduction target announced on October 10, 2024  As we continue to focus on simplifying our business, we will be reducing identified additional loans

7. Slide 7: TD Snapshot

   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 Canadian Wealth  Personal ba

8. Slide 8: Diversified Business Mix

   Diversified Business Mix Four key business lines Q4 2025 Reported Earnings Mix5 Canadian Personal & Commercial Banking  Robust retail banking platform in Canada with proven performance U.S. Retail  Top 10 bank1 in the U.S. U.S. Retail, 19% Canadian Personal & Wealth Management & Insurance Commerci

9. Slide 9: Strong Momentum Across our Businesses

   Strong Momentum Across our Businesses Canadian Personal & Commercial Banking U.S. Retail  Record revenue, deposit and loan volumes  AML remediation remains the #1 priority  Record year in digital sales for day-to-day banking products  Loans down 9% YoY, or up 2% YoY excluding loan portfolios ide

10. Slide 10: Competing in Attractive Markets

    Competing in Attractive Markets Country Statistics Country Statistics  World's 9th largest economy  World’s largest economy  Real GDP of ~CAD$2.5 trillion  Real GDP of ~US$29 trillion  Population of ~42 million  Population of ~343 million Canadian Banking System U.S. Banking System  One of th

11. Slide 11: Top North American Bank

    Top 10 North American Bank Canadian North American Q4 2025 (C$ except otherwise noted) TD Bank Group Ranking1 Ranking2 Total assets $2,095B 2nd 6th Total deposits $1,267B 2nd 6th Market capitalization $194.6B 2nd 6th Reported net income (trailing four quarters) $20.5B 1st 5th Adjusted net income3 (t

12. Slide 12: 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

13. Slide 13: Innovating for our Customers, Colleagues and Communities

    Innovating for our Customers,​ Colleagues and Communities​ TD Invent is our strategic,  TD Wealth Virtual Assistant: part of TD's strategy to deliver faster and simpler digital experiences while maintaining trusted bank-wide umbrella effort to clients. advice, the new tool represents a significant

14. Slide 14: Digital leadership enables deeper engagement and growth

    Digital leadership enables deeper engagement and growth Canada1,2 U.S.1,2 Home & Auto Insurance Clients Digitally Engaged Mobile Users (millions)3 Mobile Users (millions)3 (% of total customers)6 +1.8% +5.7% +850 bps 5.1 5.2 77.9 8.6 69.4 8.1 11 6+ 90+ Q4/24 Q4/25 Medium-term Q4/24 Q4/25 Medium-term

15. Slide 15: Commitment to Sustainability

    Commitment to Sustainability Best Responsible Environment Social Governance AI Program or #1 Customers Initiative Small Business Administration (SBA) In North America by DataIQ1 lending in Maine-to- Florida footprint2 $500B Economic ESG Centre Sustainable & Inclusion of Expertise Decarbonization A p

16. Slide 16: TD Bank Group Key Themes

    TD Bank Group Key Themes Top 10 North American Bank 6th largest bank by Total Assets1 6th largest bank by Market Cap Q4 2025 Financial Results For the three months ended October 31, 2025 Strong Balance Sheet & Capital Position Highly rated by major credit rating agencies2 15 — TD INVESTOR PRESENTATI

17. Slide 17: Q4 2025 Highlights

    Q4 2025 Highlights P&L ($MM) Q4/25 QoQ YoY Reported Strong quarter Revenue 15,494 1% 0% Insurance Service Expenses (ISE) 1,602 2% (32%) EPS of $1.82 (Adj1 $2.18, up 27% YoY) Revenue, net of ISE1,2 13,892 1% 6% PTPP $6.7B (Adj1 $5.4B, up 25% YoY, excl. U.S. Strategic Card Portfolio PCL 982 +$11 -$127

18. Slide 18: Restructuring Program

    Restructuring Program Deliver structural cost reduction across the Bank  $190MM pre-tax / $140MM after-tax restructuring charges in Q4'25 Program size  Expect ~$125MM pre-tax restructuring charges in Q1'26, when the program will conclude with total restructuring charges of ~$825MM pre-tax1  F'25

19. Slide 19: Canadian Personal & Commercial Banking

    Canadian Personal & Commercial Banking P&L ($MM) Q4/25 QoQ YoY Record revenue, deposit, and loan volumes Revenue 5,305 1% 5% PCL 537 +$74 +$107 Net income up 2% YoY; PTPP up 6% YoY Impaired 447 +$71 -$9 Revenue up 5% YoY Performing 90 +$3 +$116 Expenses 2,178 5% 4%  Volume growth PTPP1 3,127 (2%) 6

20. Slide 20: U.S. Retail

    U.S. Retail P&L (US$MM) (except where noted) Q4/25 QoQ YoY Reported Sustained business momentum Revenue 2,491 (2%) 6% PCL 220 -$11 -$65 Net income up 29% YoY (Adj1 up 27% YoY) Impaired 238 -$2 -$68 PTPP up 6% YoY (Adj1 up 12% YoY) Performing (18) -$9 +$3 Revenue up 6% YoY (Adj1 up 7%) Expenses 1,801

21. Slide 21: Wealth Management & Insurance

    Wealth Management & Insurance Record Wealth earnings and assets P&L ($MM) Q4/25 QoQ YoY Net income up $350MM YoY; PTPP up $481MM YoY  Insurance impacted by severe weather events in prior year Revenue 3,788 3% (4%) Insurance Service Expenses (ISE) 1,602 2% (32%) Revenue down 4% YoY (Revenue, net of

22. Slide 22: Wholesale Banking

    Wholesale Banking Record revenue and net income P&L ($MM) Q4/25 QoQ YoY Reported Revenue 2,200 7% 24% Net income up $259MM YoY (Adj1 up $230MM YoY) Global Markets 1,348 5% 35% PTPP up 47% (Adj1 up 32%) Investment Banking 906 12% 21% PCL 24 -$47 -$110 Revenue up 24% YoY Impaired 28 -$35 -$106 Perform

23. Slide 23: Corporate Segment

    Corporate Segment P&L ($MM) Q4/25 Q3/25 Q4/24 Reported net loss of $497MM (Adj1 net loss of $195MM) Reported  Reported net loss includes items of note Net Income (Loss) (497) (478) 526 Adjustments for items of note  YoY higher net corporate expenses, offset by higher revenue from treasury Amortiza

24. Slide 24: Capital

    Capital1 Disciplined capital and liquidity management QoQ CET 1 ratio CET 1 ratio 14.7%, down 15 bps QoQ 59 bps  Strong internal capital generation, partially offset by RWA growth (excl. FX) (28) bps (6) bps 5 bps 6 bps (18) bps  Share buyback decreased CET 1 by 33 bps +31 bps (33) bps (0) bps Adj

25. Slide 25: Fiscal 2025 Highlights

    Fiscal 2025 Highlights P&L ($MM) 2025 2024 YoY Reported Successful transition year Revenue 67,777 57,223 18% Insurance Service Expenses (ISE) 6,089 6,647 (8%) EPS of $11.56 (Adj1 $8.37, up 7% YoY) Revenue, net of ISE1 61,688 50,576 22% PTPP $34.2B (Adj1 $21.1B, up 12% YoY, excl. U.S. Strategic Card

26. Slide 26: Gross Lending Portfolio

    Gross Lending Portfolio Period-End Balances ($B unless otherwise noted) Q3/25 Q4/25 Canadian Personal and Commercial Portfolio 604.1 614.5 Personal 470.6 479.5 Residential Mortgages 266.5 264.5 Home Equity Lines of Credit (HELOC) 138.0 147.9 Indirect Auto 31.4 32.1 Credit Cards 21.6 21.9 Other Perso

27. Slide 27: 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 $1,212 $123 U.S. Retail (net) $1,109 $72 Corporate $982 $134 $971 $24 $622 $71 $52

28. Slide 28: Allowance for Credit Losses (ACL)

    Allowance for Credit Losses (ACL) ACL1: $B and Coverage Ratios2 Highlights 101 103 101 bps 99  ACL increased $40 million quarter-over-quarter, 95 United States reflecting: $9.7 $9.7 Canada $9.6 $9.6 $9.1 – The adoption impact of a model update in the Canadian credit card portfolio 57% 56% 55% 55% 5

29. Slide 29: TD Bank Group Key Themes

    TD Bank Group Key Themes Top 10 North American Bank 6th largest bank by Total Assets1 6th largest bank by Market Cap1 Q4 2025 Financial Results For the three months ended October 31, 2025 Strong Balance Sheet & Capital Position Highly rated by major credit rating agencies 2 28 — TD INVESTOR PRESENTA

30. Slide 30: Robust Capital & Liquidity Management

    Robust Capital & Liquidity Management  Target a 90-day liquidity survival horizon under a combined Bank-specific and  Manage to a stable funding profile that emphasizes funding assets and market-wide stress scenario, and a minimum buffer over regulatory requirements contingencies to the appropriat

31. Slide 31: Strong Credit Ratings

    Strong Credit Ratings Issuer Ratings1 Rating Agencies Senior Debt2 Ratings Outlook Moody's A2 Stable S&P A- Stable DBRS AA (low) Stable 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+ A

32. Slide 32: 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 Canadian Peers TD Canadian Peers TD Canadian Peers2 TD Canadian Peers2 TD Canadian Peers2 Additional Tier 1 NV

33. Slide 33: 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 Core Deposits2 – 86% of clients onboard with a chequing or savings account, powering our leading core deposit franchise  U.S. Retail is a top 10 bank3 in the U.

34. Slide 34: 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

35. Slide 35: 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 in the U.S. market for

36. Slide 36: Wholesale Term Debt Composition

    Wholesale Term Debt Composition 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 valuation s

37. Slide 37: TD Global Legislative Covered Bond Program

    TD Global Legislative Covered Bond Program Remaining Term Highlights 32%  Pool comprises 100% uninsured 1st lien Canadian Residential Mortgages originated by TD 20% 19%  All loans have original LTVs of 80% or lower. Current weighted average LTV is 54.89%1 12% 9%  The weighted average of non-zero

38. Slide 38: 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

39. Slide 39: 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

40. Slide 40: Non-Viability Contingent Capital (NVCC)

    Non-Viability Contingent Capital (NVCC)  Credit hierarchy is codified as a principle in regulatory and legislative documents in Canada  Point of Non-Viability trigger occurs when OSFI determines the bank is no longer viable or if the bank accepts a government capital injection – Importantly, liqui

41. Slide 41: Appendix: Economic Outlook

    Appendix Economic Outlook 40 — TD INVESTOR PRESENTATION Q4 2025

42. Slide 42: Interest Rate Outlook

    Interest Rate Outlook1 Interest Rates, Canada and U.S.  The Federal Reserve (Fed) reduced the target for the federal funds rate to 4.00%-3.75% in October (%) 2025. We expect the Fed to proceed with another cut 6 Forecast in its upcoming December meeting. 5  The Bank of Canada (BoC) also cut their

43. Slide 43: TD Economics Update

    TD Economics Update1 Global Outlook: Strong start to 2025 followed by slowing growth  Global growth is expected to remain modest but stable, as past central bank rate cuts are helping economies weather the fallout from higher tariffs.  The European Central Bank (ECB) has reached the end of its rat

44. Slide 44: Appendix: Credit Quality

    Appendix Credit Quality 43 — TD INVESTOR PRESENTATION Q4 2025

45. Slide 45: Gross Impaired Loan Formations

    Gross Impaired Loan Formations By Business Segment GIL Formations1: $MM and Ratios2 Highlights 28 25  Gross impaired loan formations 21 26 23 bps decreased 3 basis points quarter-over- quarter, largely reflected in: $2,657 – The Wholesale Banking and $2,432 $292 / $2,433 U.S. commercial lending por

46. Slide 46: Gross Impaired Loans (GIL)

    Gross Impaired Loans (GIL) By Business Segment GIL: $MM and Ratios1 Highlights  Gross impaired loans stable quarter-over-quarter 56 51 56 56 bps 52 $5,453 $5,420 $5,334 $5 / 6 bps $4 / 5 bps $3 / 3 bps $4,949 $4,866 $5 / 6 bps $5 / 7 bps $421 / $572 / 41 bps $600 / $343 / $327 / 69 bps 61 bps 35 bp

47. Slide 47: Credit Quality

    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 58 46 48 46 45 47 50 Q4'25 38 39 41 41 32 34 39 41 37 38 Q4'25 37 33 36 35 34 34 40 20 25 24 14 IFRS 9

48. Slide 48: Provision for Credit Losses – Impaired

    Provision for Credit Losses – Impaired1 By Geographic Location Canada U.S. Total Bank Impaired PCL Rate - Personal 1.60% 1.26% 1.21% 1.31% 0.59% 1.22% 0.49% 0.49% 0.50% 0.30% 0.30% 0.45% 0.28% 0.29% 0.26% Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q4/24 Q1/25 Q2'25 Q3/25 Q4/25 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Canad

49. Slide 49: Provision for Credit Losses (PCL)

    Provision for Credit Losses (PCL) Impaired and Performing Highlights PCL1 ($MM) Q4/24 Q3/25 Q4/25  Impaired PCL increased quarter-over-quarter, driven by: Total Bank 1,109 971 982 Impaired 1,153 904 943 – The consumer lending portfolios, including the impact of seasonal trends in the U.S. Performin

50. Slide 50: Canadian Personal Banking

    Canadian Personal Banking Highlights Canadian Personal Banking (Q4/25)1  Increase in gross impaired loans quarter-over-quarter largely recorded in the RESL portfolio, and primarily Gross Loans ($B) GIL ($MM) GIL/Loans (%) related to seasoning Residential Mortgages 264.5 410 0.16 Home Equity Lines o

51. Slide 51: Canadian Real Estate Secured Lending Portfolio

    Canadian Real Estate Secured Lending Portfolio Highlights Maturity Schedule ($B)4  Total Canadian real estate secured lending portfolio $105.1 at $415B $100.0 Variable Rate $89.1 Fixed Rate $26.5 $41.3 $20.3 – 91% of RESL portfolio is amortizing1 $55.7 $23.3 $31.4 − 75% of HELOC portfolio is amorti

52. Slide 52: Commercial Real Estate (CRE)

    Commercial Real Estate (CRE) Highlights Commercial Real Estate Portfolio Overview: $99B  Commercial Real Estate represented $99B or 10% of Total Bank gross loans1 Office – Portfolio is well diversified across geographies and 10% Retail 17% sub-segments Other – 57% of CRE portfolio in Canada and 43%

53. Slide 53: Canadian Commercial and Wholesale Banking

    Canadian Commercial and Wholesale Banking Highlights Canadian Commercial and Wholesale Banking (Q4/25)  Gross impaired loans decreased quarter-over-quarter in both Gross Loans GIL/Loans GIL ($MM) the Commercial and Wholesale lending portfolios as ($B) (%) resolutions outpaced formations Commercial

54. Slide 54: U.S. Personal Banking

    U.S. Personal Banking Highlights U.S. Personal Banking (Q4/25)  Continued good asset quality in U.S. Personal Banking Gross Loans GIL GIL/Loans In USD unless otherwise specified ($B) ($MM) (%) Residential Mortgages 34.0 404 1.19 Home Equity Lines of Credit (HELOC)1 8.9 216 2.42 Indirect Auto 31.5 2

55. Slide 55: U.S. Commercial Banking

    U.S. Commercial Banking Highlights U.S. Commercial Banking (Q4/25)  Gross impaired loans were stable quarter-over-quarter Gross Loans GIL GIL/Loans In USD unless otherwise specified ($B) ($MM) (%) Commercial Real Estate (CRE) 28.6 536 1.87 Non-residential Real Estate 18.4 409 2.22 Residential Real

56. Slide 56: Appendix: Additional Information

    Appendix Additional Information 55 — TD INVESTOR PRESENTATION Q4 2025

57. Slide 57: Q4 2025: PTPP & Operating Leverage

    Q4 2025: PTPP & Operating Leverage1 Modified for partners' share of SCP PCL, FX and Insurance Service Expense TOTAL BANK Q4 2025 Q3 2025 Q4 2024 SFI Reference Revenue Expenses Revenue Expenses Revenue Expenses Reported Results ($MM) 15,494 8,808 15,297 8,522 15,514 8,050 Page 2, L3 & L6 1 PTPP 6,686

58. Slide 58: Fiscal 2025: PTPP & Operating Leverage

    Fiscal 2025: PTPP & Operating Leverage1 Modified for partners' share of SCP PCL, FX and Insurance Service Expense 2025 2024 2023 TOTAL BANK SFI Reference Revenue Expenses Revenue Expenses Revenue Expenses Reported Results ($MM) 67,777 33,539 57,223 35,493 50,690 29,855 Page 2, L3 & L6 1 PTPP 34,238

59. Slide 59: Q4 2025: Items of Note

    Q4 2025: Items of Note ($MM) EPS ($) Segment SFI Reference1 Pre-Tax After Tax Reported net income and EPS (diluted) 3,280 1.82 Items of note Amortization of acquired intangibles2 34 26 0.01 Corporate Page 4, L13, L26 & L39 Restructuring charges 190 140 0.08 Corporate Page 4, L16, L28 & L42 Acquisiti

60. Slide 60: Fiscal 2025: Items of Note

    Fiscal 2025: Items of Note ($MM) EPS ($) Segment SFI Reference1 Pre-Tax After Tax Reported net income and EPS (diluted) 20,538 11.56 Items of note Amortization of acquired intangibles2 171 138 0.08 Corporate Page 4, L13, L26 & L39 Restructuring charges 686 510 0.30 Corporate Page 4, L16, L28 & L42 A

61. Slide 61: 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 NII impact from 100 bps change in interest rates across the curve1 ($ in CAD Q4'25 Q3'25 ($ in CAD Q4'25 Q3'25 MM) MM) +100bps -100bps +100bps -100bps

62. Slide 62: Endnotes

    Endnotes 61 — TD INVESTOR PRESENTATION Q4 2025

63. Slide 63: Endnotes on Slides 2 to 4

    Endnotes on Slides 2 to 4 Slide 2 1. See Slide 10. 2. See Slide 30. Slide 3 1. The Bank's expectations regarding value generated from AI use cases are subject to inherent uncertainties and are based on the Bank's assumptions regarding certain factors, including general economic and market conditions

64. Slide 64: Endnotes on Slides 5 to 8

    Endnotes on Slides 5 to 8 Slide 5 1. The forward-looking information on this page represents management's estimates of future costs and certain financial impacts. These estimates are subject to the risks and assumptions described on Slide 1 of this presentation, and are dependent on certain key fact

65. Slide 65: Endnotes on Slides 9 to 14

    Endnotes on Slides 9 to 14 Slide 9 1. Canadian Bankers Association, Fast Facts About the Canadian Banking System. 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 most cur

66. Slide 66: Endnotes on Slides 15 to 20

    Endnotes on Slides 15 to 20 Slide 15 1. See Slide 10. 2. See Slide 30. Slide 16 1. Please refer to Slide 3, Endnote 2. 2. Revenue (net of ISE) is a non-GAAP financial measure. The adjustment of insurance service expense (ISE) provides a measure of revenue that management believes is more reflective

67. Slide 67: Endnotes on Slides 21 to 26

    Endnotes on Slides 21 to 26 Slide 21 1. Please refer to Slide 3, Endnote 2. 2. The Bank's expectations regarding acquisition and integration-related charges related to the acquisition of Cowen are based on forward-looking assumptions that have inherent risk and uncertainties. Results may vary depend

68. Slide 68: Endnotes on Slides 27 to 33

    Endnotes on Slides 27 to 33 Slide 27 1. U.S. allowance includes international portfolio. 2. Coverage Ratio: Total allowance for credit losses as a % of gross loans. 3. U.S. Strategic Cards Partners' Share represents the retailer program partners' share of the U.S. Strategic Cards Portfolio ACL. 4. C

69. Slide 69: Endnotes on Slides 34 to 44

    Endnotes on Slides 34 to 44 Slide 34 1. Excludes certain private placement and structured notes. 2. In Canadian dollars equivalent with exchange rate as at October 31st, 2025. 3. Represents mortgage-backed securities issued to external investors only. 4. Includes Limited Recourse Capital Notes, Pref

70. Slide 70: Endnotes on Slides 45 to 53

    Endnotes on Slides 45 to 53 Slide 45 1. GIL Ratio: Gross Impaired Loans/Gross Loans (both are spot) by portfolio. Slide 46 1. Effective November 1, 2017, the Bank adopted IFRS 9, which replaces the guidance in IAS 39. The Bank made the decision not to restate comparative period financial information

71. Slide 71: Endnotes on Slides 54 to 60

    Endnotes on Slides 54 to 60 Slide 54 1. Please refer to Slide 52, Endnote 2. 2. Please refer to Slide 52, Endnote 3. 3. Other includes: Agriculture; Power and utilities; Telecommunications, Cable and media; Transportation; Forestry; Metals and mining; Oil and gas; Other. Slide 56 1. Please refer to

72. Slide 72: Investor Relations Contacts

    Investor Relations Contacts Phone: (416) 308-9030 or 1 (866) 486-4826 Email: tdir@td.com Website: www.td.com/investor 71 — TD INVESTOR PRESENTATION Q4 2025

Toronto-Dominion Bank — Q4 2025 Earnings Presentation on 6ix