An anonymous director reports

TD ASSET MANAGEMENT INC. ANNOUNCES A CHANGE TO THE RISK RATING FOR THE CAD UNITS OF TD SELECT U.S. SHORT TERM CORPORATE BOND LADDER ETF

The risk rating for the Canadian-dollar-denominated units of the TD Asset Management Inc.-managed TD Select U.S. Short Term Corporate Bond Ladder ETF will be changing as indicated in the attached table.

TD ETF                                               Units   Ticker symbol   Previous risk rating   New risk rating

TD Select U.S. Short Term Corporate Bond Ladder ETF    CAD            TUSB                    Low     Low to medium 

This risk rating change will be reflected in the TD exchange-traded fund's prospectus and the ETF Facts that will be filed with the Canadian securities regulators on or about Feb. 28, 2019.

The risk rating for the United States-dollar-denominated units of the TD ETF (ticker symbol: TUSB.U) has not changed and continues to be "low." There are no changes to the investment objectives, investment strategies or management of the TD ETF.

This risk rating change is in accordance with the methodology mandated by the Canadian Securities Administrators. A summary of the CSA's risk classification methodology, the investment objectives and the investment strategies of the TD ETF can be found in the applicable TD ETFs prospectus available on the TD Asset Management website.

About TD Asset Management Inc.

TD Asset Management (TDAM), a member of TD Bank Group, is a North American investment management firm. Operating through TD Asset Management in Canada and TDAM USA Inc. in the United States, TDAM brings new thinking to investors' most important challenges. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of almost two million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally managed portfolios and corporate class funds.