Mr. Bruce MacKinnon reports

TD ASSET MANAGEMENT INC. EXECUTES FIRST LOAN IN GLOBAL PRIVATE CREDIT STRATEGY

Toronto-Dominion Bank's TD Asset Management Inc. (TDAM) has closed its first loan in its newly launched global private credit strategy, the TD Greystone Global Private Credit Fund. The fund is integrated into the TD Greystone private markets platform that manages $42.4-billion of assets. This first deployment of the fund's committed capital builds toward a fully diversified, evergreen global portfolio of high-income credit investments.

The fund seeks to provide attractive risk-adjusted returns for investors across direct lending (middle-market corporate credit), real estate debt, infrastructure debt and specialty finance markets without the need to navigate multiple funds or managers. The first opportunity comes from one of TDAM's existing relationships within the infrastructure space. This loan monetizes equity distributions of operational fibre networks in North America 100 per cent owned by the builder/operator. Building on TDAM's long record of developing tailored credit solutions, this sole-sourced, bilateral loan is structured with appropriate covenants, contractual provisions and reserve accounts while offering a yield that aligns with the fund's current objective of an 8-per-cent to 10-per-cent unlevered yield.

"Our first investment also showcases the depth of our origination channels, across infrastructure and other real asset lending, in addition to the direct lending opportunities we are seeing through our alignment with TD Bank partners," said Bruce MacKinnon, managing director and head of private debt research and origination at TDAM. According to Colin Lynch, managing director and head of private markets at TDAM, "This opportunity serves as a proof point that careful, selective underwriting can find opportunities that provide premium income without lowering our standard of credit resilience."

The team expects the fund's second and third deals to rapidly follow in the footsteps of this allocation. To bolster the team's efforts and reinforce the bank's commitment to the private credit platform, TDAM recently added two origination specialists in the London, United Kingdom office after adding specialists in Toronto and New York in 2025.

The firm has over 35 years of experience managing alternatives, and the fund joins TDAM's comprehensive alternative investments suite, which includes global investment-grade private debt, global real estate, Canadian commercial mortgages and global infrastructure.

About TD Asset Management Inc.

TD Asset Management (TDAM), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, TDAM's broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum, and alternatives (such as private credit, infrastructure and real estate). TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds, and superannuation funds, among others. Additionally, TDAM manages assets on behalf of millions of retail investors and offers a broadly diversified suite of investment solutions, including mutual funds, exchange-traded funds and professionally managed portfolios. Asset management businesses at TD manage $532-billion in assets. Aggregate statistics as at March, 31, 2026, for TDAM and Epoch Investment Partners Inc. TDAM operates in Canada and Epoch Investment Partners Inc. operates in the United States. Both entities are affiliates and are wholly owned subsidiaries of Toronto-Dominion Bank.