Ms. Brooke Hales reports

TD BANK GROUP TO ISSUE NVCC SUBORDINATED DEBENTURES

The Toronto-Dominion Bank today arranged a domestic public offering of $1.75-billion of medium term notes (non-viability contingent capital (NVCC)) constituting subordinated indebtedness of the bank. The notes will be issued and sold through a dealer syndicate led by TD Securities Inc.

The notes are expected to be issued on April 9, 2024, and will bear interest at a fixed rate of 5.177 per cent per annum (paid semi-annually) until April 9, 2029, and at daily compounded CORRA plus 1.53 per cent thereafter (paid quarterly) until maturity on April 9, 2034.

The bank may, at its option, with the prior approval of the Superintendent of Financial Institutions (Canada), redeem the notes on or after April 9, 2029, in whole or in part, at par plus accrued and unpaid interest on not more than 60 nor less than 10 days of notice to holders. Net proceeds from the issuance of the notes will be used for general corporate purposes.

About Toronto-Dominion Bank

TD and its subsidiaries are collectively known as TD Bank Group. TD is the sixth-largest bank in North America by assets and serves over 27.5 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian personal and commercial banking, including TD Canada Trust and TD Auto Finance Canada; U.S. retail, including TD Bank, America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.) and an investment in The Charles Schwab Corp.; wealth management and insurance, including TD Wealth (Canada), TD Direct Investing and TD Insurance; and wholesale banking, including TD Securities and TD Cowen. TD also ranks among the world's leading on-line financial service firms, with more than 17 million active on-line and mobile customers. TD had $1.91-trillion in assets on Jan. 31, 2024. The bank trades under the symbol TD on the Toronto Stock Exchange and the New York Stock Exchange