Toronto-dominion Bank · TSX:TD

Toronto-dominion Bank — TD Bank Group — Q4 2024 Earnings Presentation

94 slides from Toronto-dominion Bank's earnings presentation, December 2024

1. Slide 1: Investor Presentation TD Bank Group Q4 2024

   Investor Presentation TD Bank Group Q4 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: TD Bank Group 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 Q4 2024 Financial Results 2 For the three months ended October 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Bal

4. Slide 4: U.S. AML Remediation

   U.S. AML Remediation A strong foundation in place to support a multi-year effort to build long-term sustainable risk mitigation People & Talent: Overhauled the U.S. BSA/AML program leadership and talent with emphasis on specific experience and subject matter expertise Governance & Structure: Strengt

5. Slide 5: 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

6. Slide 6: Competing in Attractive Markets

   Competing in Attractive Markets Country Statistics Country Statistics  World's 10th largest economy  World’s largest economy  Real GDP of ~CAD$2.2 trillion  Real GDP of ~US$28 trillion  Population of ~40 million  Population of ~340 million Canadian Banking System U.S. Banking System  One of t

7. Slide 7: Top North American Bank

   Top 10 North American Bank Canadian North American Q4 2024 (C$ except otherwise noted) TD Bank Group Ranking Ranking Total assets $2,062B 2nd 6th Total deposits $1,269B 2nd 6th Market capitalization $134.7B 2nd 6th Reported net income (trailing four quarters) $8.8B 2nd 6th Adjusted net income1 (trai

8. Slide 8: Diversified Business Mix

   Diversified Business Mix Four key business lines Q4 2024 Reported Earnings Mix5 Canadian Personal & Commercial Banking • Robust retail banking platform in Canada with proven performance Canadian Personal & 6 Commercial U.S. Retail U.S. Retail Banking, Bank, 22% 56% • Top 10 bank1 in the U.S. Wealth

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,​ Colleagues and Communities​ Helping to shape the future of banking • TD eCommerce Solutions: A turnkey customizable eCommerce platform, enabling Canadian businesses to sell their products, services and accept payments. This TD Invent, our enterprise platform is powered

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  Launched the Digital Customer +149 bps +154 bps Assistance Portal which enables 63.7 65.2 57.0 Canadian credit card customers with 55.5 overdue accounts to process paym

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- fourth consecutive year 1 Florida footprint2 Economic ESG Centre $500B Inclusion of Ex

13. Slide 13: Purpose Driven: Q4 2024 ESG Highlights

    Purpose Driven: Q4 2024 ESG Highlights  Certified by Great Place To Work in the U.S. for the 9th year in a row  Named a Top 50 Community-Minded Business by Chamber of Commerce for Greater Philadelphia and Points of Light  Announced US$500,000 in contributions to support local relief efforts in pa

14. Slide 14: TD Bank Group 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 Q4 2024 Financial Results 2 For the three months ended October 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Bal

15. Slide 15: Fiscal 2024 Highlights

    Fiscal 2024 Highlights Challenging Year EPS of $4.72, down 14% YoY  Adjusted1 EPS of $7.81, down 1% YoY P&L ($MM) Revenue up 13% YoY (Adj1 up 9%) Reported 2024 2023 YoY  Reported revenue includes impact of terminated FHN acquisition-related Revenue 57,223 50,690 13% capital hedging strategy in pri

16. Slide 16: Q4 2024 Highlights

    Q4 2024 Highlights Challenging Quarter EPS of $1.97, up 33% YoY P&L ($MM)  Adjusted1 EPS of $1.72, down 5% YoY Reported Q4/24 QoQ YoY Revenue up 18% YoY (Adj1 up 12% YoY) Revenue 15,514 9% 18%  Reported revenue includes gain on sale of Schwab Insurance Service 2,364 42% 76% shares and loss from U.

17. Slide 17: Canadian Personal & Commercial Banking

    Canadian Personal & Commercial Banking Strong quarter with record revenue and positive operating leverage P&L ($MM) Reported Q4/24 QoQ YoY Net income up 9% YoY Revenue 5,064 1% 7% Revenue up 7% YoY PCL 430 -$5 +$40  Volume growth and higher deposit margins, partially offset Impaired 456 +$118 +$182

18. Slide 18: U.S. Balance Sheet Restructuring

    U.S. Balance Sheet Restructuring1 Strategy Progress Update ~10% Asset Reduction ~10% Asset Reduction  Create capacity to serve our customers while  October 31 total assets of ~US$431B (vs asset limitation maintaining buffer to asset limitation of US$434B)2  Manage down non-scalable / non-core por

19. Slide 19: U.S. Retail

    U.S. Retail Challenging quarter Net income down 32% (Adj1 down 14%) Revenue down 9% YoY (Adj1 down 1%) P&L (US$MM) (except where noted)  Reported revenue includes impact of balance sheet restructuring Reported Q4/24 QoQ YoY  Lower deposit volumes partially offset by higher deposit margins, Revenue

20. Slide 20: Wealth Management & Insurance

    Wealth Management & Insurance Strong underlying performance offset by severe weather events P&L ($MM) Reported Q4/24 QoQ YoY Net income down 29% YoY Revenue 3,937 18% 33% Revenue up 33% YoY (of which 24% driven by Insurance Service Expenses 2,364 42% 76% (ISE) reinsurance recoveries for catastrophe

21. Slide 21: Wholesale Banking

    Wholesale Banking Strength of combined franchise P&L ($MM) Net income up >100% YoY (Adj1 up 68% YoY) Reported Q4/24 QoQ YoY Revenue up 19% YoY Revenue 1,771 (1%) 19% Global Markets 1001 (4%) 12%  Higher lending revenue, underwriting fees and Investment Banking 751 (3%) 20% trading-related revenue P

22. Slide 22: Corporate Segment

    Corporate P&L ($MM) Segment Reported Q4/24 Q3/24 Q4/23 Reported net income of $365MM Net Income (Loss) 365 (525) (591)  Adjusted1 loss of $361MM Adjustments for items of note Amortization of acquired intangibles2 60 64 92 Acquisition and integration charges related to 35 21 31 the Schwab transactio

23. Slide 23: Capital

    Capital1 Strong capital and liquidity management supporting future growth Common Equity Tier 1 Ratio (bps) Q3 2024 CET 1 Ratio 12.8% Common Equity Tier 1 ratio of 13.1% Internal capital generation 14 Leverage Ratio of 4.2% Increase in RWA (excluding impact of FX)2 (3) Sale of Schwab shares 54 Liquid

24. Slide 24: Gross Lending Portfolio

    Gross Lending Portfolio Includes B/As Period-End Balances ($B unless otherwise noted) Q3/24 Q4/24 Canadian Personal & Commercial Portfolio 577.8 583.1 Personal 452.4 457.0 Residential Mortgages 269.1 270.9 Home Equity Lines of Credit (HELOC) 121.2 123.0 Indirect Auto 29.4 29.9 Credit Cards 20.2 20.5

25. Slide 25: Provision for Credit Losses (PCL)

    Provision for Credit Losses (PCL) By Business Segment PCL1: $MM and Ratios2,3,4 Highlights Wealth Management & Insurance  PCL stable quarter-over-quarter Wholesale Banking $1,109 $1,071 $1,072 $1,001 Canadian Personal & Commercial Banking $10 $55 $134 $118 U.S. Retail (net) $878 Corporate $57 (U.S.

26. Slide 26: Allowance for Credit Losses (ACL)

    Allowance for Credit Losses (ACL) ACL1: $B and Coverage Ratios2 Highlights 93 95 bps 89 91  ACL increased $303 million 89 74 quarter-over-quarter, due to: United States $9.1 – Higher impaired allowance in Canada $8.6 $8.8 $8.2 $8.3 the Business & Government lending portfolios 56% 56% 56% $5.3 57% 5

27. Slide 27: TD Bank Group 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 Q4 2024 Financial Results 2 For the three months ended October 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Bal

28. Slide 28: Earnings Performance

    Earnings Performance Earnings (C$B) 5-year CAGR1 -5.5% Reported Earnings (-5.5% EPS) 2.7% Adjusted2 Earnings (3.1% EPS) $17.4 $15.4 $14.6 $15.0 $14.3 $14.3 $12.5 $11.7 $11.9 $10.6 $10.0 $8.8 2019 2020 2021 2022 2023 2024 2 Reported Adjusted 28

29. Slide 29: Strong, Consistent Dividend History

    Strong, Consistent Dividend History Dividends Per Share (C$) $4.08 168-year continuous dividend history Dividend yield1: 5.1% Target payout $0.36 range: 40%-50% Annual Dividend 29

30. Slide 30: Total Shareholder Returns

    Total Shareholder Returns1 TD Bank Canadian North American Group Ranking Ranking One-Year TTM 4.5% 5th 12th Three-Year CAGR -0.6% 5th 10th Five-Year CAGR 5.1% 4th 9th Ten-Year CAGR 7.7% 4th 8th 30

31. Slide 31: Canadian Personal & Commercial Banking

    Canadian Personal & Commercial Banking Net Income (C$MM) $7,219 $6,558 $6,688 $5,885 $3,996 2020 2021 2022 2023 2024 Q4 2024 Highlights Total Deposits C$471B Branches 1,060 Total Loans C$578B ATMs4 3,400 Earnings1 $7.2B Employees2 27,930 Customers ~15MM Mobile Users3 8.1MM 31

32. Slide 32: 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

33. Slide 33: U.S. Retail

    U.S. Retail Reported Net Income (US$MM) $4,348 $4,127 $3,967 $2,278 $2,278 $3,967 $4,269 $4,319 $3,580 $79 2020 2021 2022 2023 2024 Adjusted1 Q4 2024 Highlights Total Deposits2 C$432B US$316B Employees4 27,802 Total Loans2 C$264B US$193B Customers5 ~10MM Assets Under Administration C$59B US$43B Mobi

34. Slide 34: U.S. Retail

    U.S. Retail Personal & Commercial Banking Credit Cards  Top 10 bank1 with ~10MM customers2, operating 1,132 retail  Issuer of TD branded credit cards for retail and small business stores and 2,561 ATMs in 15 states and the District of Columbia customers, including:  Diverse range of financing pro

35. Slide 35: Wealth Management & Insurance

    Wealth Management & Insurance Reported Net Income (C$MM) $2,596 $2,395 $2,030 $2,001 $1,955 $2,128 $2,596 $2,395 $2,001 $1,955 2020 2021 2022 2023 2024 Adjusted1 Q4 2024 Highlights Total Deposits2 C$28B Employees5 14,939 Total Loans2 C$7B Customers ~6MM Assets Under Administration3 C$651B Assets Und

36. Slide 36: 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 in Canada and globally  TD Asset Management remained

37. Slide 37: Wholesale Banking

    Wholesale Banking Reported Net Income (C$MM) $1,570 $1,418 $1,325 $1,118 $770 $1,418 $1,570 $1,339 $1,115 $1,415 2020 2021 2022 2023 2024 Adjusted1 Q4 2024 Highlights Average gross lending portfolio2 C$97.0B Earnings3 C$1.1B Employees4 6,975 37

38. Slide 38: Wholesale Banking Accomplishments

    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

39. Slide 39: TD Bank Group 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 Q4 2024 Financial Results 2 For the three months ended October 31, 2024 Proven Performance, Future Growth Opportunities 3 Delivering solid long-term shareholder returns2 Strong Bal

40. Slide 40: TD TLAC Requirements

    TD TLAC Requirements  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 ratio: 7.25%  As of Q4-2024, TD's risk-based and leverage-based TLAC ratios both exceed the re

41. Slide 41: 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

42. Slide 42: 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

43. Slide 43: Robust Liquidity Management

    Robust Liquidity Management Liquidity Risk Management Framework Liquidity Coverage Ratio (LCR) 140%  Target a 90-day survival horizon under a combined 138% 120% 133% Bank-specific and market-wide stress scenario, 126% 129% and a minimum buffer over regulatory 100% requirements 80%  Manage to a sta

44. Slide 44: 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 OneTD  U.S. Retail is a top 103 bank in the U.S. with ~10MM customers4, operatin

45. Slide 45: 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  Personal and business deposits are TD's primary 60 sources of funds – Customer service business model delivers stable 40 base of “sti

46. Slide 46: 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

47. Slide 47: 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

48. Slide 48: TD Global Legislative Covered Bond Program

    TD Global Legislative Covered Bond Program Cover Pool as at October 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-administere

49. Slide 49: 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

50. Slide 50: 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

51. Slide 51: 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

52. Slide 52: Appendix Economic Outlook

    Appendix Economic Outlook 52

53. Slide 53: Interest Rate Outlook

    Interest Rate Outlook1 Interest Rates, Canada and U.S.  The Federal Reserve (Fed) cut the % 6 target for the federal funds rate by 25 Forecast bps in November 2024 to 4.50-4.75%. We expect the Fed to cut rates 5 another 25 bps at their final meeting in December. 4  The Bank of Canada (BoC) last cu

54. Slide 54: TD Economics Update

    TD Economics Update1 Global Outlook: Global growth to remain tepid in 2024  Inflation has receded substantially, but the last mile is proving challenging as the cooling in goods prices has slowed.  Weakening inflation and soft growth in the Euro area should allow the European Central Bank (ECB) to

55. Slide 55: Appendix Credit Quality

    Appendix Credit Quality 55

56. Slide 56: Gross Impaired Loan Formations

    Gross Impaired Loan Formations By Business Segment GIL Formations1: $MM and Ratios2 Highlights 22 28 bps  Gross impaired loan formations 18 21 22 increased 6 basis points quarter- over-quarter, driven by: $2,657 – A small number of borrowers $292 / across the Canadian and U.S. 30 bps Commercial and

57. Slide 57: Gross Impaired Loans (GIL)

    Gross Impaired Loans (GIL) By Business Segment GIL1: $MM and Ratios2 Highlights 52 bps  Gross impaired loans 40 41 44 increased 8 basis points 36 quarter-over-quarter, largely recorded in: $4,949 $5 / 6 bps – The Canadian and $4,170 U.S. Commercial and $343 / $3,895 $5 / 7 bps Wholesale Banking $3,

58. Slide 58: 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) Q4'24 47 52 50 46 48 46 47 46 45 44 38 37 34 43 41 38 37 39 24 34 34 33 20 32 31 25 28 29 Q4'24 -3 14

59. Slide 59: Provision for Credit Losses (PCL)

    Provision for Credit Losses (PCL) Impaired and Performing PCL1,2 ($MM) Highlights Q4/23 Q3/24 Q4/24  Impaired PCL increase quarter- Total Bank 878 1,072 1,109 over-quarter reflected in the Impaired 719 920 1,153 Canadian and U.S. Commercial and Wholesale lending Performing 159 152 (44) portfolios C

60. Slide 60: Canadian Personal Banking

    Canadian Personal Banking Canadian Personal Banking (Q4/24)1 Highlights Gross Loans ($B) GIL ($MM) GIL/Loans (%)  Gross impaired loans Residential Mortgages 270.9 275 0.10 increased in the consumer Home Equity Lines of Credit (HELOC) 123.0 185 0.15 lending portfolios quarter- Indirect Auto 29.9 132

61. Slide 61: Canadian Real Estate Secured Lending Portfolio

    Canadian Real Estate Highlights Secured Lending Portfolio  Total Canadian real estate secured lending portfolio at $396B Maturity Schedule ($B)1 – 92% of RESL portfolio is amortizing4, of $111.7 $113.2 which 73% of HELOC portfolio is $78.0 $30.1 amortizing $46.4 Variable Rate $7.6 – 34% variable in

62. Slide 62: Commercial Real Estate (CRE)

    Commercial Real Estate (CRE) Commercial Real Estate Portfolio Overview: Highlights $96B  Commercial Real Estate represents $96B or 10% of Total Bank gross loans and acceptances1 Office Retail – Portfolio is well diversified across 11% 18% geographies and sub segments Other 5% – 56% of CRE portfolio

63. Slide 63: Canadian Commercial and Wholesale Banking

    Canadian Commercial and Wholesale Banking Canadian Commercial and Wholesale Banking (Q4/24) Highlights Gross Loans/ GIL GIL/Loans BAs ($B) ($MM) (%)  Gross impaired loans Commercial Banking1 126.1 1,090 0.86 increased quarter-over- Wholesale Banking 99.2 343 0.35 quarter driven by a small number of

64. Slide 64: U.S. Personal Banking

    U.S. Personal Banking U.S. Personal Banking (Q4/24) Highlights Gross Loans GIL GIL/Loans In USD unless otherwise specified ($B) ($MM) (%)  Good continued asset quality Residential Mortgages 42.1 353 0.84 in U.S. Personal Banking Home Equity Lines of Credit (HELOC)1 8.3 203 2.45 Indirect Auto 30.9 2

65. Slide 65: U.S. Commercial Banking

    U.S. Commercial Banking U.S. Commercial Banking (Q4/24) Highlights Gross Loans/ GIL GIL/Loans In USD unless otherwise specified BAs ($B) ($MM) (%)  Gross impaired loans Commercial Real Estate (CRE) 29.0 431 1.49 increased quarter-over- Non-residential Real Estate 19.4 286 1.47 quarter driven by a s

66. Slide 66: Appendix Additional Information

    Appendix Additional Information 66

67. Slide 67: Fiscal 2024: PTPP & Operating Leverage

    1,2 Fiscal 2024: PTPP & Operating Leverage 1,3 Modified for partners' share of SCP PCL, FX and Insurance Service Expense FY 2024 FY 2023 FY 2022 TOTAL BANK SFI Reference Revenue Expenses Revenue Expenses Revenue Expenses Reported Results ($MM) 57,223 35,493 50,690 29,855 49,032 24,641 Page 2, L3 & L

68. Slide 68: Q4 2024: PTPP & Operating Leverage

    1,2 1,3 Q4 2024: PTPP & Operating Leverage Modified for partners' share of SCP PCL, FX and Insurance Service Expense Q4 2024 Q3 2024 Q4 2023 TOTAL BANK SFI Reference Revenue Expenses Revenue Expenses Revenue Expenses Reported Results ($MM) 15,514 8,050 14,176 11,012 13,178 7,628 Page 2, L3 & L6 1 PT

69. Slide 69: Fiscal 2024: Items of Note

    Fiscal 2024: Items of Note Revenue/ ($MM) EPS ($) Segment Expense Line Item1 Pre-Tax After Tax Reported net income and EPS (diluted) 8,842 4.72 Items of note Amortization of acquired intangibles2 290 249 0.14 Corporate Page 4, L13, L29 & L44 Acquisition and integration charges related to the Schwab

70. Slide 70: Q4 2024: Items of Note

    Q4 2024: Items of Note Revenue/ ($MM) EPS ($) Segment Expense Line Item1 Pre-Tax After Tax Reported net income and EPS (diluted) 3,635 1.97 Items of note Amortization of acquired intangibles2 60 52 0.03 Corporate Page 4, L13, L29 & L44 Acquisition and integration charges related to the Schwab transa

71. Slide 71: Net Interest Income Sensitivity (NIIS)

    Net Interest Income Sensitivity (NIIS) Strong deposit base and disciplined ALM management 25 bps change in short-term interest rates 100 bps change in interest rates across the curve  25 bps increase: $105MM increase in NII over a 12-month  100 bps increase: $720MM increase in NII over a 12-month

72. Slide 72: TD AMCB Financial Impact of Balance Sheet Restructuring and AML Remediation

    TD AMCB Financial Impact of Balance Sheet Restructuring and AML Remediation1 F'25 will be a transition year with higher costs to invest in a stronger core franchise focused on the financial needs of our customers  Undertake balance sheet restructuring in F'25 to create capacity to continue to serve

73. Slide 73: Endnotes

    Endnotes 73

74. Slide 74: Endnotes on Slides 3-4

    Endnotes on Slides 3-4 Slide 3 1. See Slide 7. 2. See Slide 30. 3. See Slide 41. Slide 4 1. On October 10, 2024, the Bank and certain of its U.S. subsidiaries consented to orders with the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board (FRB), and the Financial Crimes Enfor

75. Slide 75: Endnotes on Slides 5-6

    Endnotes on Slides 5-6 Slide 5 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 business loans during the quarter. 3. Includes assets under admin

76. Slide 76: Endnotes on Slides 7-9

    Endnotes on Slides 7-9 Slide 7 1. The Bank prepares its 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 “reported” resul

77. Slide 77: Endnotes on Slides 11-14

    Endnotes on Slides 11-14 Slide 11 1. Canadian Personal and Commercial: based on Canadian Personal & Small Business banking. U.S. Retail: based on U.S. Retail and Small Business banking. 2. Active digital users as a percentage of total customer base. Canadian Personal & Small Business Banking exclude

78. Slide 78: Endnotes on Slides 15-17

    Endnotes on Slides 15-17 Slide 15 1. Please refer to Slide 7, Endnote 1. 2. Adjusted expenses excluding the partners' share of net profits for the U.S. SCP and adjusted expenses excluding the partners' share of net profits and FX are non-GAAP financial measures. For further information on accounting

79. Slide 79: Endnotes on Slide 18-19

    Endnotes on Slide 18-19 Slide 18 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 2, and are dependent on certain key factors and assumptions, i

80. Slide 80: Endnotes on Slides 20-22

    Endnotes on Slides 20-22 Slide 20 1. Please refer to Slide 7, Endnote 1. 2. Includes AUA administered by TD Investor Services, which is part of the Canadian Personal and Commercial Banking segment. Slide 21 1. Please refer to Slide 7, Endnote 1. Slide 22 1. Please refer to Slide 7, Endnote 1. 2. Amo

81. Slide 81: Endnotes on Slides 23-26

    Endnotes on Slides 23-26 Slide 23 1. Capital and liquidity measures are calculated in accordance with OSFI's Capital Adequacy Requirements, Leverage Requirements, and Liquidity Adequacy Requirements guidelines. 2. FX impact on RWA has a negligible impact on the CET 1 ratio, because the CET 1 ratio i

82. Slide 82: Endnotes on Slides 27-32

    Endnotes on Slides 27-32 Slide 27 1. See Slide 7. 2. See Slide 30. 3. See Slide 41. Slide 28 1. Compound annual growth rate for the five-year period ended October 31, 2024. 2. Please refer to Slide 7, Endnote 1. Slide 29 1. Please refer to Slide 5, Endnote 4. Slide 30 1. Please refer to Slide 5, End

83. Slide 83: Endnotes on Slides 33-35

    Endnotes on Slides 33-35 Slide 33 1. Please refer to Slide 7, 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 5, Endnote

84. Slide 84: Endnotes on Slides 36-39

    Endnotes on Slides 36-39 Slide 36 1. Please refer to Slide 8, Endnote 3. 2. Investment Funds Institute of Canada. ETF Assets as of September 2024. 3. Please refer to Slide 8, Endnote 2. 4. Investor Economics | A division of ISS Market Intelligence. Total Wealth Assets (AUA & AUM) as of June 2024. 5.

85. Slide 85: Endnotes on Slides 40-44

    Endnotes on Slides 40-44 Slide 40 1. Reflects debt outstanding as at, and converted at FX rate as at October 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

86. Slide 86: Endnotes on Slides 45-48

    Endnotes on Slides 45-48 Slide 45 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

87. Slide 87: Endnotes on Slides 49-54

    Endnotes on Slides 49-54 Slide 49 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

88. Slide 88: Endnotes on Slides 56-59

    Endnotes on Slides 56-59 Slide 56 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 57 1. G

89. Slide 89: Endnotes on Slides 60-62

    Endnotes on Slides 60-62 Slide 60 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/

90. Slide 90: Endnotes on Slides 63-65

    Endnotes on Slides 63-65 Slide 63 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

91. Slide 91: Endnotes on Slides 67-68

    Endnotes on Slides 67-68 Slide 67 1. Please refer to Slide 7, Endnote 1. 2. Please refer to Slide 5, Endnote 4. 3. Operating leverage is a non-GAAP measure. At the total Bank level, TD calculates operating leverage as the difference between the % change in adjusted revenue (U.S. Retail in source cur

92. Slide 92: Endnotes on Slide 69-70

    Endnotes on Slide 69-70 Slide 69 1. This column refers to specific page(s) and line items of the Bank's Q4 2024 Supplementary Financial Information package. 2. Please refer to Slide 22, Endnote 2. 3. Please refer to Slide 22, Endnote 3. 4. The Bank incurred restructuring charges of $566 million in f

93. Slide 93: Endnotes on Slide 72

    Endnotes on Slide 72 Slide 72 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 2, and are dependent on certain key factors and assumptions, incl

94. Slide 94: Investor Relations Contacts

    Investor Relations Contacts Phone: (416) 308-9030 or 1 (866) 486-4826 Email: tdir@td.com Website: www.td.com/investor 94

TD Bank Group — Q4 2024 Earnings Presentation on 6ix