Slides
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Title Slide S E C T I O N O N E Quarterly Results Presentation TD Bank Group – Q3 2026 – August 27, 2026
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From time to time, TD Bank Group ("TD" or the "Bank") 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 in other communications. In addition, representatives of the Bank may make forward-looking statements orally to analysts, investors, the media, and others. All such statements are made pursuant to the “safe harbour” provisions of, and are intended to be forward-looking statements under, applicable Canadian and U.S. securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements made in this document and/or on the conference call, the Management’s Discussion and Analysis (2025 MD&A) in the Bank’s 2025 Annual Report under the heading “Economic Summary and Outlook”, under the headings “Key Priorities for 2026” and “Operating Environment and Outlook” for the Canadian Personal and Commercial Banking, U.S. Banking, Wealth Management and Insurance, and Wholesale Banking segments, and in other statements regarding the Bank’s objectives and priorities for 2026 and beyond and strategies to achieve them, the regulatory environment in which the Bank operates, targets and commitments, the Bank’s anticipated financial performance and the outlook for the Bank’s operations or the Canadian, U.S. and global economies. Forward-looking statements are typically identified by words such as “will”, “would”, “should”, "suggest", "seek", “believe”, “expect”, “anticipate”, “intend”, "ambition", "strive", "confident", “estimate”, “forecast”, “outlook”, “plan”, “goal”, "commit", “target”, "objective", "timeline", “possible”, “potential”, “predict”, “project”, "foresee", “may”, and “could” and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. By their very nature, these forward-looking statements require the Bank to make assumptions and are subject to inherent risks and uncertainties, general and specific. Especially in light of the uncertainty related to the physical, financial, economic, political, and regulatory environments, such risks and uncertainties – many of which are beyond the Bank’s control and the effects of which can be difficult to predict – may cause actual results to differ materially from the expectations , predictions, forecasts, projections, estimates, targets, or intentions expressed in the forward-looking statements. Examples of such risk factors include general business and economic conditions in the regions in which the Bank operates; geopolitical risk (including policy, trade and tax-related risks and the potential impact of any new or elevated tariffs or any retaliatory tariffs); inflation, interest rates and recession uncertainty; risks associated with the remediation of the Bank’s U.S. Bank Secrecy Act (BSA)/anti-money laundering (AML) program and Enterprise AML program; regulatory oversight and compliance risk; the ability of the Bank to execute on long-term strategies, shorter-term key strategic priorities, including the successful completion of acquisitions and dispositions and integration of acquisitions, the ability of the Bank to achieve its financial or strategic objectives with respect to its investments, business retention plans, and other strategic plans; risks associated with the insured deposit account agreement between the Bank and The Charles Schwab Corporation; technology and cyber security risk (including cyber-attacks, data security breaches or technology failures) on the Bank’s technologies, systems and networks, those of the Bank’s customers (including their own devices), and third parties providing services to the Bank; data risk; model risk; external fraud activity; insider risk; conduct risk; the failure of third parties to comply with their obligations to the Bank or its affiliates, including relating to the care and control of information, and other risks arising from the Bank’s use of third-parties; the impact of new and changes to, or application of, current laws, rules and regulations, including consumer protection laws and regulations, tax laws, capital guidelines and liquidity regulatory guidance; environmental and social risk (including climate-related risk); exposure related to litigation and regulatory matters; increased competition from incumbents and new entrants (including Fintechs and big technology competitors); shifts in consumer attitudes and disruptive technology; ability of the Bank to attract, develop, and retain key talent; changes in foreign exchange rates, interest rates, credit spreads, equity prices and commodity prices; downgrade, suspension or withdrawal of ratings assigned by any rating agency, the value and market price of the Bank’s common shares and other securities may be impacted by market conditions and other factors; the interconnectivity of financial institutions including existing and potential international debt crises; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by the Bank; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank’s results. For more detailed information, please refer to the “Risk Factors and Management” section of the 2025 MD&A, and the sections related to strategic, credit, market (including equity, commodity, foreign exchange, interest rate, and credit spreads), operational (including technology, cyber security, process, systems, data, third-party, fraud, infrastructure, insider and conduct), model, insurance, liquidity, capital adequacy, compliance, financial crime, reputational, environmental and social risk in the "Managing Risk" section of the 2025 MD&A, as may be updated in subsequently filed quarterly reports to shareholders and news releases (as applicable) related to any events or transactions discussed under the headings “Significant Events” or “Update on U.S. Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Program Remediation and Enterprise AML Program Improvement Activities“ in the relevant MD&A, which applicable releases may be found on www.td.com. All such factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements, should be considered carefully when making decisions with respect to the Bank. The Bank cautions readers not to place undue reliance on the Bank’s forward-looking statements. Material economic assumptions underlying the forward-looking statements contained in this document and/or on the conference call are set out in the 2025 MD&A under the headings “Economic Summary and Outlook” and “Significant Events”, under the headings “Key Priorities for 2026” and “Operating Environment and Outlook” for the Canadian Personal and Commercial Banking, U.S. Banking, Wealth Management and Insurance, and Wholesale Banking segments, each as may be updated in subsequently filed quarterly reports to shareholders and news releases (as applicable). Any forward-looking statements contained in this document and/or on the conference call represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank’s shareholders and analysts in understanding the Bank’s financial position, objectives and priorities and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. The Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf, except as required under applicable securities legislation. Caution Regarding Forward-Looking Statements 1 — TD QUARTERLY RESULTS PRESENTATION
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ROE2 Reported: 15.8% Adjusted1: 16.0% ROTCE1,2 Reported: 19.0% Adjusted1: 19.1% Net Income Reported: $4.6B Adjusted1: $4.7B Q3 2026 Performance CET14 14.3% Efficiency Ratio2 Reported: 50.2% Adjusted, Net of ISE1: 55.2% EPS2 Reported: $2.74 Adjusted1: $2.77 Total Assets $2.1T PTPP1,3 Growth (YoY) Reported: 24.1% Adjusted1: 16.9% Q3 2026 Updates Impaired PCLs decreased QoQ reflecting strong credit performance. F'26 PCL guidance updated to the lower end of the prior 40 to 50 bps range Strength in markets- driven businesses, margin expansion, and volume growth in Canadian P&C CET1 ratio of 14.3%, with strong adjusted organic capital accretion & repurchase of ~14.5MM shares in Q3 2 — TD QUARTERLY RESULTS PRESENTATION 6-8% Adj1 EPS Growth 13%+ CET1 Ratio 40-50bps PCL Ratio8,9 Positive Adj1 Operating Leverage7 ~13% Adj1 ROE 3-4% Adj1 Expense Growth6 F'26 Targets5 This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions. Positive operating leverage
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Canadian Personal & Commercial Banking U.S. Banking Strong Momentum Across our Businesses Wealth Management & Insurance Record revenue, earnings, deposits and loans Strong Personal Banking day-to-day acquisition, including record Q3 digital sales (chequing, savings & cards), up 17% YoY Small Business Banking chequing acquisition up 13% YoY , driven by distribution expansion and refreshed product line-up Speed, specialization and disciplined pricing in RESL delivering 4% YoY profitable loan growth Business loans & non-term deposits each up 8% YoY , reflecting the benefits of distribution expansion Commercial client acquisition up 10% year-to-date TD ranked #1 in Customer Satisfaction with Mobile Banking Apps according to JD Power 1 Record revenue, earnings and assets Wealth new accounts up 26% YoY and trades per day up 20% YoY TD Direct Investing named #1 online broker in Canada in 2026 MoneySense rankings 6 Recognized with IDC CIO Awards Canada 2026 for TD Easy Trade7 Expanded market share in ETFs with assets of $43B, on track for medium-term target of $54B TD Insurance leads Canadian industry in scaled deployment of AI- powered vehicle damage estimation for auto claims Continued progress on AML remediation, our #1 priority Loans positive sequentially. Excl. loan portfolios identified for sale or run-off 2,3 up 1% QoQ – U.S. Bankcard balances up 5% QoQ & 20% YoY. Middle market lending up 2% QoQ & 15% YoY. Home equity lending up 2% QoQ & 6% YoY Record mass affluent investment assets Aligned with branch repositioning strategy, subject to regulatory approval, focused on opening 100 new branches by end of 2028 4 TDAF ranked #1 in Dealer Satisfaction among National Prime Credit Non-Captive Automotive Finance Lenders for 7 th consecutive year in the JD Power 2026 U.S. Dealer Financing Satisfaction Study5 Wholesale Banking Delivered record revenue and earnings – Global Markets revenue up 23% YoY – Corporate & Investment Banking revenue up 21% YoY Deepened client relationships & won significant mandates, including bookrunner on the largest ever Canadian equity follow -on offering Top 10 in U.S. Equity & Equity-Linked league tables and Top 3 in Canada in Equity, Equity-Linked & Preferred league tables8 Recognized with 2 awards at The Digital Banker Global Transaction Banking Innovation Awards 2026 9 3 — TD QUARTERLY RESULTS PRESENTATION This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions.
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Deeper, Faster, Disciplined Deeper Relationships Simpler & Faster Disciplined Execution Over 20,000 client-facing colleagues in Canada now supported by Gen AI Virtual Assistants TD Auto Finance Canada expanded AI- driven capabilities, automating ~one-third of manual processes in funding and launching digital income verification to reduce time to credit decision Driving structural cost reductions while accelerating investments across AI, innovation, & frontline talent U.S. Banking ROE 10.2% and Wholesale Banking ROE 16.7%, both significant improvements YoY Medium-term (F'29) Targets1 7-10% Adj2 EPS Growth 40-50% Dividend Payout Ratio3 Strong CET1 Ratio Mid-50s Adj2 Efficiency Ratio, Net of ISE4 (%) Positive Adj2 Operating Leverage ~16% Adj2 ROE Mid-to-high single digits Adj2 PTPP CAGR3 (%) This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions. Canadian Personal Banking again achieved record penetration rates for credit cards In Canada, Wealth closed a record ~$24B in retail branch referrals YTD Expanded TD Premier program in the U.S., bringing together our mass affluent clients' banking and wealth needs 4 — TD QUARTERLY RESULTS PRESENTATION 75+ bps Annual Adj2 Organic Capital Accretion5
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Accelerating AI Leadership Retail End-to- End Credit Scale AI across the credit journey to create simpler & faster client experiences 5 Focused investment on key transformation initiatives ~$500MM Annualized Cost Savings ~$500MM Annualized Revenue Uplift & Medium-term target value Ahead of pace on AI targets1 — TD QUARTERLY RESULTS PRESENTATION This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions. Software Development Lifecycle Transform how we design, build & deliver software technology across full product delivery cycle, making TD simpler & faster, and deliver more value for clients Contact Centres Leverage AI across our contact centres to empower colleagues, and deliver a simpler, more seamless experience for clients Delivered ~$195MM in AI value year-to- date vs. target of ~$200MM in F'26 Introduced enterprise-wide Responsible AI Principles addressing compliance with existing financial services laws, transparency and explainability, data use and privacy, fairness, quality and accountability, reliability, and security
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Q3 2026 Brand and Sustainability Highlights 6 — TD QUARTERLY RESULTS PRESENTATION Announced carbon removal agreements with Deep Sky & Climeworks Recognized as a certified Great Place to Work (U.S.)1 TD Insurance launched exclusive partnership with REALTOR.ca to embed insurance in home buying journey, helping Canadians protect one of their largest investments Ranked #1 on TIME’s 2026 Canada’s Best Companies List 2025 Sustainability Report Sustainability Highlights
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The U.S. BSA/AML remediation program remains subject to risks and uncertainties, including the review by the Monitor, and approval by our Regulators, FinCEN and the DOJ U.S. AML program continues to strengthen as management remediation actions progress as expected, including: More granular and dynamic assessment of the U.S. Bank's inherent financial crime risk profile Increased frequency of transaction monitoring coverage assessments Enhanced anti-trafficking and fraud detection efforts through investigative partnerships Rolled out specialized training for colleagues in higher-risk business lines Continued progress against lookback reviews Completed Actions Continued phased deployments of Know Your Customer platform Continued technology deployments including machine learning, specialized AI, and an enhanced currency transaction reporting platform Further delivery of training and development for colleagues Continued execution of lookback reviews as required under the OCC and FinCEN consent orders What is in flight U.S. BSA / AML Remediation1 Note: "management remediation actions" is considered by the Bank to consist of the root cause assessments, data preparation, design, documentation, frameworks, policies, standards, training, processes, systems, testing, and implementation of controls, as well as the hiring of resources. 20272024 2025 2026 2028 Work on management remediation actions, including demonstrated sustainability, will continue through 2026 and 2027 Internal Audit Validation and Monitor and Regulatory Engagement Following Monitor and Regulatory Review, additional management remediation actions may be required that would take place after 2027 — TD QUARTERLY RESULTS PRESENTATION This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions. 7
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Strong quarter Q3 2026 Highlights P&L ($MM) Q3/26 QoQ YoY Reported Revenue 16,885 7% 10% Insurance Service Expenses (ISE) 1,646 18% 5% Revenue, net of ISE1,2 15,239 6% 11% PCL 917 -$84 -$54 Impaired 865 -$108 -$39 Performing 52 +$24 -$15 Expenses 8,475 1% -1% PTPP1 8,410 13% 24% Net Income 4,615 9% 38% Diluted EPS ($) 2.74 13% 45% ROE 15.8% +110 bps +450 bps Efficiency Ratio 50.2% -280 bps -550 bps Adjusted1 Revenue 16,926 6% 8% Revenue, net of ISE 15,280 4% 9% Expenses 8,441 1% 4% PTPP1 6,303 8% 17% Net Income 4,671 12% 21% Diluted EPS ($) 2.77 16% 26% ROE 16.0% +160 bps +280 bps Efficiency Ratio, Net of ISE1 55.2% -180 bps -260 bps EPS of $2.74, up 45% YoY (Adj1 $2.77, up 26% YoY) PTPP1 $8.4B, up 24% YoY (Adj1 $6.3B, up 17% YoY, excl. U.S. strategic cards portfolio partners' share (SCP), FX, & ISE) Revenue up 10% YoY (Adj1 up 8% YoY) Reported incl. upfront loss from U.S. balance sheet restructuring in prior year Higher revenue from markets-driven businesses, margin expansion, and volume growth in Canadian P&C PCL of $917MM Expenses down 1% YoY (Adj1 up 4% YoY; ~3% driven by variable compensation, FX & SCP) Reported incl. restructuring charges in prior year Higher spend supporting business growth initiatives including employee- related expenses ROE 15.8%, +450bps YoY (Adj1 16.0%, +280bps YoY) Efficiency Ratio 50.2%, -550bps YoY (Adj, Net of ISE1 55.2%, -260bps YoY) 8 — TD QUARTERLY RESULTS PRESENTATION
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Record revenue, earnings, deposits & loans Canadian Personal & Commercial Banking P&L ($MM) Q3/26 QoQ YoY Revenue 5,517 5% 5% PCL 478 -$20 +$15 Impaired 446 -$19 +$70 Performing 32 -$1 -$55 Expenses 2,131 2% 3% PTPP1 3,386 7% 7% PTPP1 – Personal Banking 2,306 7% 7% PTPP1 – Business Banking 1,080 6% 6% Net Income 2,095 9% 7% ROE 32.3% +100 bps -20 bps ROE – Personal Banking 41.3% +200 bps -180 bps ROE – Business Banking 21.8% -30 bps +110 bps Efficiency Ratio 38.6% -110 bps -80 bps Efficiency Ratio – Personal Banking 40.3% -150 bps -100 bps Efficiency Ratio – Business Banking 34.6% -20 bps -20 bps Net income up 7% YoY; PTPP1 up 7% YoY Revenue up 5% YoY Volume growth and higher margins – Deposit volumes up 2% – Loan volumes up 5% NIM1,2 of 2.88%, +3 bps QoQ Higher loan and deposit margins For Q4'26, expect NIM to modestly increase, similar to this quarter's results3 PCL of $478MM Expenses up 3% YoY Higher employee-related expenses 9 — TD QUARTERLY RESULTS PRESENTATION This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions. Effective June 1, 2026, TD implemented a reorganization within the Canadian Personal & Commercial Banking segment, whereby Small Business Banking transitioned from Canadian Business Banking to Canadian Personal Banking. The reorganization will be reflected in Canadian Personal Banking and Canadian Business Banking financial reporting effective November 1, 2026.
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Results demonstrate earnings power of franchise U.S. Banking P&L (US$MM) (except where noted) Q3/26 QoQ YoY Reported Revenue 2,987 8% 13% PCL 227 -$23 -$4 Impaired 234 -$9 -$6 Performing (7) -$14 +$2 Expenses 1,830 1% 6% PTPP1 1,157 21% 26% Net Income 771 30% 39% Net Income (C$MM) 1,074 32% 41% ROE 10.2% +200 bps +310 bps ROTCE1 15.6% +310 bps +490 bps Efficiency Ratio 61.3% -410 bps -400 bps AUM ($B) 12 9% 20% AUA ($B) 47 2% 2% Adjusted1 Revenue 2,987 3% 5% Expenses 1,830 1% 6% PTPP1 1,157 5% 4% Net Income 771 10% 11% Net Income (C$MM) 1,074 12% 12% ROE 10.2% +60 bps +130 bps ROTCE1 15.6% +80 bps +210 bps Efficiency Ratio 61.3% -90 bps +30 bps Net income up 39% YoY (Adj1 up 11% YoY) PTPP1 up 26% YoY (Adj1 up 4% YoY) Revenue up 13% YoY (Adj1 up 5%) Reported incl. upfront loss from balance sheet restructuring in prior year Deposits down 5%. Sweeps down 13%. Deposits excl. sweeps and government banking business flat Loans down 4%. Excl. loan portfolios identified for sale or run-off, loans up 3%1,2 AUM3 up 20% YoY , AUA3 up 2% YoY reflecting net asset growth and market appreciation NIM1,4 3.47%, +6 bps QoQ Higher loan margins incl. higher revenue from strategic cards platform conversion and higher deposit margins For Q4'26, expect NIM to modestly increase5 PCL of US$227MM Expenses up 6% YoY Conversion costs associated with strategic cards portfolio, higher employee related-expenses and spend supporting business growth initiatives, partially offset by lower governance & control investments (including costs of US$125MM for U.S. BSA/AML remediation) Expect U.S. BSA/AML remediation and related governance & control investments to be ~US$550MM (pre-tax) for F'26 6 Continue to expect overall F'26 expense growth in mid-single-digit range7 10 — TD QUARTERLY RESULTS PRESENTATION This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions.
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Record revenue, earnings & assets Wealth Management & Insurance P&L ($MM) Q3/26 QoQ YoY Revenue 4,085 8% 11% Insurance Service Expenses (ISE) 1,646 18% 5% Revenue, net of ISE1 2,439 2% 16% Expenses 1,296 4% 12% PTPP1 1,143 1% 20% Net Income 841 - 20% Net Income – Wealth Management 653 17% 25% Net Income – Insurance 188 -33% 3% Wealth Management & Insurance ROE 49.0% -220 bps +430 bps Wealth Management ROE 72.5% +750 bps +1,010 bps Insurance ROE 23.1% -1,280 bps -160 bps Efficiency Ratio 31.7% -140 bps +30 bps Efficiency Ratio, net of ISE1 53.1% +60 bps -160 bps AUM ($B)2 644 4% 13% AUA ($B)3 831 4% 17% Net income up 20% YoY; PTPP1 up 20% YoY Revenue up 11% YoY Wealth Management: higher fee-based revenues from asset growth and deposit volumes – AUM2 up 13% YoY , AUA3 up 17% YoY reflecting market appreciation and net asset growth Insurance: Higher insurance earned premiums ISE up 5% YoY Expenses up 12% YoY Higher variable compensation commensurate with higher revenue, and employee-related expenses 11 — TD QUARTERLY RESULTS PRESENTATION
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Record revenue & earnings Wholesale Banking Net income up 87% YoY (Adj1 up 76% YoY) PTPP1 up 73% YoY (Adj1 up 64% YoY) Revenue up 25% YoY Higher lending revenue, underwriting fees, and trading-related revenue PCL of $41MM Expenses up 7% YoY (Adj1 up 9% YoY) Reported expenses incl. acquisition and integration-related costs for TD Cowen in prior year Higher variable compensation and front office costs P&L ($MM) Q3/26 QoQ YoY Reported Revenue 2,581 8% 25% Global Markets 1,580 3% 23% Corporate & Investment Banking 982 10% 21% PCL 41 -$37 -$30 Impaired 6 -$74 -$57 Performing 35 $37 $27 Expenses 1,594 6% 7% PTPP1 987 12% 73% Net Income 743 21% 87% ROE 16.7% +220 bps +740 bps Efficiency Ratio 61.7% -140 bps -1,070 bps Adjusted1 Expenses 1,594 6% 9% PTPP1 987 12% 64% Net Income 743 21% 76% ROE 16.7% +220 bps +680 bps Efficiency Ratio 61.7% -140 bps -910 bps 12 — TD QUARTERLY RESULTS PRESENTATION
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Corporate Segment Reported net loss of $138MM (Adj1 net loss of $82MM) Reported net loss includes items of note P&L ($MM) Q3/26 Q2/26 Q3/25 Reported Net Income (Loss) (138) 64 (478) Adjustments for items of note Amortization of acquired intangibles 34 33 33 Restructuring charges - - 333 Impact from the terminated FHN acquisition-related capital hedging strategy2 41 43 55 Income tax adjustment on gain on sale of Schwab shares 3 - (288) - Impact of taxes on other items of note (19) (18) (107) Net (Loss) - Adjusted1 (82) (166) (164) Net Corporate Expenses4 (462) (543) (477) Other 380 377 313 Net (Loss) – Adjusted (82) (166) (164) 13 — TD QUARTERLY RESULTS PRESENTATION
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14.3% 73 bps (30) bps (22) bps (1) bps (37) bps 10 bps 4 bps 14.3% Q2 2026 Net Income - Adjusted Dividends RWA Growth (ex.FX) Items of Note Share Repurchase Model Updates Other Q3 2026 +21 bps Adj2 Organic Capital Accretion Capital1 QoQ CET1 ratio QoQ RWA ($B)3 Disciplined capital and liquidity management CET1 ratio 14.3%, down 3 bps QoQ Strong adjusted2 earnings net of dividends, partially offset by RWA growth, drove strong adjusted2 organic capital accretion this quarter Share buyback program decreased CET1 by 37 bps Model updates across our Canadian RESL, Canadian Business Banking and Wholesale Banking portfolios increased CET1 by 10 bps RWA growth of $12B QoQ Increase in credit risk volume and operational risk driven by business growth Improvements in credit quality primarily driven by higher used vehicle prices in U.S. business Unfavourable FX translation, which is hedged for CET1 ratio Leverage ratio of 4.5% Liquidity coverage ratio of 133% 14 — TD QUARTERLY RESULTS PRESENTATION 2 486.8 494.4 131.9 134.7 22.6 24.3 8.8 2.8 1.7 (3.3) (4.4) (1.9) 8.4 Q2 2026 Credit Risk - Asset Size Op Risk Market Risk Credit Risk - Asset Quality Credit Risk - Model Updates Other FX Q3 2026 Credit Risk Op Risk Market Risk 641.4 653.4 -22 bps9.9 or RWA Growth (ex. FX)
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Highlights Gross impaired loan formations decreased 2 basis points quarter-over-quarter, largely reflected in: – The U.S. and Canadian Commercial lending portfolios Gross Impaired Loan Formations By Business Segment GIL Formations1: $MM and Ratios2 26 23 27 22 20 bps $1,227 / 49 bps $1,106 / 45 bps $1,262 / 53 bps $1,043 / 44 bps $923/ 39 bps $889 / 15 bps $1,005 / 16 bps $946 / 15 bps $1,079 / 17 bps $1,050 / 17 bps $2,122 $2,433 $2,177 $2,579 $1,973 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 U.S. Banking Canadian Personal & Commercial Banking Wholesale Banking Wealth Management & Insurance $317 / 35 bps $66 / 7 bps $371 / 38 bps 15 — TD QUARTERLY RESULTS PRESENTATION
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Gross Impaired Loans (GIL) Highlights Gross impaired loans decreased 3 basis points quarter-over-quarter, driven by: – The U.S. and Canadian Commercial, and Wholesale lending portfolios 16 — TD QUARTERLY RESULTS PRESENTATION By Business Segment 56 56 58 54 51 bps GIL: $MM and Ratios1 $2,865 / 116 bps $2,903 / 118 bps $3,011 / 128 bps $2,966 / 126 bps $2,868 / 118 bps $1,865 / 31 bps $1,942 / 32 bps $1,994 / 32 bps $2,157/ 35 bps $2,150/ 34 bps $600 / 69 bps $572 / 61 bps $3 / 3 bps $3 / 3 bps $5,334 $5,420 $5,594 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 U.S. Banking Canadian Personal & Commercial Banking Wholesale Banking Wealth Management & Insurance $586 / 57 bps $3 / 3 bps $122 / 11 bps $155 / 15 bps $4 / 5 bps $3 / 3 bps $5,281 $5,143
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Provision for Credit Losses (PCL) Highlights PCL decreased 6 basis points quarter- over-quarter, reflected across: – Wholesale Banking – U.S. Banking – Canadian Personal & Commercial Banking PCL: $MM and Ratios1,2,3 $120 $117 $136 $83 $81 $317 $304 $295 $342 $317 $463 $537 $436 $498 $478 $71 $24 $172 $78 $41 $971 $982 $1,039 $1,001 $917 Wealth Management & Insurance Wholesale Banking Canadian Personal & Commercial Banking U.S. Banking (net) Corporate PCL Ratio (bps) Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Canadian Personal & Commercial Banking 31 35 28 33 30 U.S. Banking (net)2 52 50 49 60 53 U.S. Banking & Corporate (gross)3 72 70 72 75 67 Wholesale Banking 31 11 70 31 15 Total Bank (gross)3 41 41 43 43 37 Total Bank (net)2,4 36 36 38 39 34 17 — TD QUARTERLY RESULTS PRESENTATION By Business Segment
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Provision for Credit Losses (PCL) Highlights Impaired PCLs decreased quarter-over-quarter, primarily recorded across: ‒ The business & government lending portfolios Current quarter performing provision largely reflected in: ‒ Wholesale and Canadian Commercial PCL1 ($MM) Q3/25 Q2/26 Q3/26 Total Bank 971 1,001 917 Impaired 904 973 865 Performing 67 28 52 Canadian Personal & Commercial Banking 463 498 478 Impaired 376 465 446 Performing 87 33 32 U.S. Banking (net) 317 342 317 Impaired 330 332 326 Performing (13) 10 (9) Wholesale Banking 71 78 41 Impaired 63 80 6 Performing 8 (2) 35 Corporate U.S. strategic cards partners' share 120 83 81 Impaired 135 96 87 Performing (15) (13) (6) Wealth Management & Insurance - - - Impaired - - - Performing - - - 18 — TD QUARTERLY RESULTS PRESENTATION Impaired and Performing
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Performing ($B) 0.32 0.33 1.9 1.9 2.3 2.4 3.3 3.4 7.9 8.1 Impaired ($B) 0.10 0.11 0.3 0.3 0.4 0.4 0.7 0.6 1.5 1.4 Ratio3 (bps) 14 15 81 76 682 672 113 109 97 96 103 101 99 97 96 bps Allowance for Credit Losses (ACL) Highlights ACL increased $105 million quarter-over-quarter, related to: ‒ A $128 million impact of foreign exchange ‒ Performing build reflecting volume growth and some credit migration ‒ Partially offset by lower impaired allowance across the business & government lending portfolios While results may vary by quarter, and are subject to changes to economic conditions, the Bank's fiscal 2026 PCLs are now expected to be near the lower end of our previously guided range of 40 to 50 basis points 5 $0.4 $2.2 $2.8 $4.0 $9.5 $1.0 $1.0 $0.4 $2.2 $2.8 $4.1 $9.6 $1.0 $1.0 Residential Mortgages Consumer instalment and other personal Credit Card Business & Government Total Q2/26 Q3/26 U.S. Strategic Card Partners' Share ACL by Asset Type: $B ACL1: $B and Coverage Ratios2 45% 45% 46% 47% 47% 55% 55% 54% 53% 53% $9.7 $9.7 9.6 9.5 9.6 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 United States Canada 3 4 19 — TD QUARTERLY RESULTS PRESENTATION This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions.
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Appendix 20 — TD QUARTERLY RESULTS PRESENTATION
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Q3 2026: Items of Note ($MM) EPS ($) Segment SFI Reference1 Pre-Tax After-Tax Reported net income and EPS (diluted) 4,615 2.74 Items of note Amortization of acquired intangibles 34 25 0.01 Corporate Page 4, L13, L27 & L41 Impact from the terminated FHN acquisition-related capital hedging strategy2 41 31 0.02 Corporate Page 4, L18, L31 & L46 Excluding items of note above Adjusted3 net income and EPS (diluted) 4,671 2.77 21 — TD QUARTERLY RESULTS PRESENTATION
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U.S. Strategic Cards Portfolio Mechanics: • TD collects revenue. • TD establishes a reserve for the total credit losses and a receivable for the partners' share of credit losses. • TD pays partners their share of risk-adjusted profit ('payment' in table below). Assuming 70% partner share / 30% TD share* Illustrative Example of Accounting ($MM) Credit Card Portfolio 1,000 Revenue 150 Credit Losses (50) Risk-Adjusted Profit 100 Income Statement Presentation Total Bank U.S. Banking Corporate Revenue Gross at 100% = 150 Net at 30% = 45 Net at 70% = 105 Credit Losses Gross at 100% = (50) Net at 30% = (15) Net at 70% = (35) Non-Interest Expense Payment at 70% = (70) - Payment at 70% = (70) Net Income Before Taxes Net at 30% = 30 Net at 30% = 30 - 22 — TD QUARTERLY RESULTS PRESENTATION * The split differs by partner, with TD having a higher share under the new Nordstrom agreement and a lower share under the Target agreement.
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Q3 2026: PTPP1 & Operating Leverage1 Modified for partners' share of SCP PCL, FX and Insurance Service Expense TOTAL BANK Q3 2026 Q2 2026 Q3 2025 SFI ReferenceRevenue Expenses Revenue Expenses Revenue Expenses Reported Results ($MM) 16,885 8,475 15,797 8,372 15,297 8,522 Page 2, L3 & L6 1 PTPP1 8,410 7,425 6,775 2 PTPP1 (QoQ) 13.3% (5.2%) (54.2%) 3 PTPP1 (YoY) 24.1% (49.8%) 114.1% 4 Revenue (YoY) 10.4% (31.1%) 7.9% 5 Expenses (YoY) (0.6%) 2.9% (22.6%) 6 Operating Leverage1 (YoY) 11.0% (34.0%) 30.5% 7 Adjusted1 Results ($MM) 16,926 8,441 16,037 8,339 15,614 8,124 Page 2, L16 & L17 8 Minus: U.S. Banking value in C$2 4,166 2,554 3,981 2,476 3,904 2,381 Page 10, L19 & L23 9 Plus: U.S. Banking value in US$2 2,987 1,830 2,906 1,807 2,840 1,732 Page 12, L19 & L23 10 Minus: Insurance Service Expense 1,646 1,398 1,563 Page 2, L5 11 Plus: Corporate PCL3 81 83 120 Page 16, L6 12 Subtotal 14,101 7,798 13,564 7,753 12,987 7,595 13 PTPP1 6,303 5,811 5,392 14 Line 13 PTPP1 (QoQ) 8.5% (0.9%) 3.7% 15 Line 13 PTPP1 (YoY) 16.9% 11.7% 12.6% 16 Line 12 Revenue (YoY) 8.6% 7.9% 12.2% 17 Line 12 Expenses (YoY)4 2.7% 5.2% 12.0% 18 Line 12 Operating Leverage1 (YoY) 5.9% 2.7% 0.3% 23 — TD QUARTERLY RESULTS PRESENTATION
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Net Interest Income Sensitivity (NIIS) Strong deposit base and disciplined ALM management 0.00 1.00 2.00 3.00 4.00 5.00 0.00 1.00 2.00 3.00 4.00 5.00 CAD 5-Year Swap Rate (%) U.S. 7-Year Swap Rate (%) NII impact from 25 bps change in short-term interest rates1,2 ($ in CAD MM) Q3'26 Q2'26 +25bps -25bps +25bps -25bps CAD $45 ($46) $55 ($55) USD $20 ($11) $18 ($6) Total $65 ($57) $73 ($61) NII impact from 100 bps change in interest rates across the curve1,2 ($ in CAD MM) Q3'26 Q2'26 +100bps -100bps +100bps -100bps CAD $295 ($326) $349 ($384) USD $151 ($142) $158 ($163) Total $446 ($468) $507 ($547) For Q3'26, $119MM increase or $109MM decrease if across the curve Canadian Overnight Repo Rate Average (%) U.S. Secured Overnight Financing Rate (%) 2.10 3.10 2.37% 3.66% 3.12% 4.18% Note: The NII impact of the +100bps increase will not move proportionally to the impact of the next +25bps rate hike due to t he positive added benefit of longer-term rates increasing, partially offset by other factors, including loan prepayment risk and deposit pricing sensitivity. 24 — TD QUARTERLY RESULTS PRESENTATION 3.10 4.10 5.10
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U.S.1,2Canada1,2 Digital leadership enables deeper engagement and growth Home & Auto Insurance1 Mobile Users (millions)3 +0.7% Q3/25 Q3/26 5.2 5.2 6+ +5.4% Q3/25 Q3/26 8.4 8.9 11 93.2 94.0 96 Self-Serve Transactions (% of all financial transactions)4 +126bps Q3/25 Q3/26 85.4 86.7 90 +78bps Q3/25 Q3/26 75.9 80.9 90+ +500 bps Clients Digitally Engaged (% of total customers)5 TD MyInsurance Transactions (millions)6 1.7 2.0 3+ +18% Medium-term target7 Medium-term target7 Medium-term target7 Medium-term target7 25 — TD QUARTERLY RESULTS PRESENTATION This Slide contains forward-looking information. Please refer to the caution at the beginning of this presentation and the endnotes for this slide for material factors, risks and assumptions. Q3/25 Q3/26 Medium-term target7 LTM8 Q3/25 LTM8 Q3/26 Medium-term target7 Mobile Users (millions)3 Self-Serve Transactions (% of all financial transactions)4
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Canadian Personal & Commercial Banking Margins, Volumes and Efficiency Net Interest Margin (NIM)1 Efficiency Ratio Average Loans ($B)2 Average Deposits ($B)2 2.83% 2.82% 2.83% 2.85% 2.88% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 315 316 318 317 318 170 174 178 176 178 485 489 495 493 497 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Personal Commercial 41.4% 43.0% 41.5% 41.8% 40.3% 34.8% 36.5% 35.1% 34.8% 34.6% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Personal Commercial 26 — TD QUARTERLY RESULTS PRESENTATION 464 475 482 482 485 129 131 134 136 139 594 607 615 618 624 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Personal Commercial
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U.S. Banking Margins, Volumes and Efficiency Net Interest Margin (NIM)1 Efficiency Ratio Average Loans (US$B)2 Average Deposits (US$B)2 3.38% 3.41% 3.47% 3.19% 3.25%3.20% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 NIM NIM Adj. NIM Adj. excl. Liquidity Actions 1 1 65.3% 69.4% 60.5% 65.4% 61.3% 61.0% 62.8% 61.5% 62.2% 61.3% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Reported (in US$) Adjusted (in US$) 133 131 131 132 130 100 100 100 97 97 81 79 74 72 71 314 310 305 301 298 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Personal Business IDA3 27 — TD QUARTERLY RESULTS PRESENTATION 89 90 91 84 90 160 163 164 164 165 91 87 84 90 83 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 180 177 175 173 173 1 ■ Personal ■ Business ■ Core Loans
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Wealth Management & Insurance Volumes and Efficiency Gross Written & Collected Premiums1 ($MM) Efficiency Ratio Average Loans ($B) Average Deposits ($B) 2,011 1,927 1,502 1,582 2,001 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 7.0 7.4 8.1 8.3 9.1 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 34.4 35.5 37.1 39.0 39.3 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 28 — TD QUARTERLY RESULTS PRESENTATION Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 WM&I 31.4% 32.7% 32.2% 33.1% 31.7% Wealth Management 59.5% 59.6% 59.2% 59.9% 56.8% Insurance 6.2% 6.6% 6.4% 6.4% 6.4% WM&I, Net of ISE2 54.7% 56.7% 55.1% 52.5% 53.1% Insurance, Net of ISE2 32.4% 39.9% 34.2% 24.3% 33.7%
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Wealth Management & Insurance Wealth Revenue & NIAT ($MM) Wealth Assets ($B) 709 759 771 797 831 572 601 602 617 644 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 AUA AUM 29 — TD QUARTERLY RESULTS PRESENTATION 1 1,228 1,291 1,324 1,317 1,423 210 261 253 216 240299 316 333 350 391 521 557 574 558 653 200 300 400 500 600 700 800 0 400 800 1,200 1,600 2,000 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Fee & Other (lhs) Transaction (lhs) NII (lhs) Net Income (rhs) 2
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51%46% 3% 61% 38% 1% Wholesale Banking Q3/26 Revenue Q3/26 Loans1 Other2Global Markets Corporate and Investment Banking $2.6B Canada United States International $111.8B 30 — TD QUARTERLY RESULTS PRESENTATION
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Gross Lending Portfolio Period-End Balances ($B unless otherwise noted) Q2/26 Q3/26 Canadian Personal and Commercial Portfolio 623.3 632.1 Personal 482.8 488.2 Residential Mortgages 250.8 242.0 Home Equity Lines of Credit (HELOC) 164.2 177.2 Indirect Auto 32.3 33.0 Credit Cards 22.5 23.0 Other Personal 13.0 13.0 Unsecured Lines of Credit 10.5 10.6 Commercial Banking (including Small Business Banking) 140.5 143.9 U.S. Banking Portfolio (all amounts in US$) 173.4 173.5 Personal 89.1 89.9 Residential Mortgages 33.8 33.9 Home Equity Lines of Credit (HELOC)1 9.1 9.3 Indirect Auto 31.9 32.2 Credit Cards 13.5 13.6 Other Personal 0.8 0.9 Commercial Banking 84.3 83.6 Non-residential Real Estate 17.5 17.9 Residential Real Estate 10.3 10.5 Commercial & Industrial (C&I) 56.5 55.2 FX on U.S. Personal & Commercial Portfolio 62.2 69.6 U.S. Banking Portfolio ($) 235.6 243.1 Canadian Wealth Management and Insurance Portfolio 9.5 10.1 Wholesale Portfolio 104.7 114.6 Total2 973.1 999.9 31 — TD QUARTERLY RESULTS PRESENTATION
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% of RESL Portfolio3% 20% 55% 14% 8% Highlights Total Canadian real estate secured lending portfolio at $422B – 90% of RESL portfolio is amortizing4 − 76% of HELOC portfolio is amortizing – 46% variable interest rate, of which 22% Mortgage and 24% HELOC – 13% of RESL portfolio insured Canadian RESL credit quality remained strong – Five-year average impaired loss rate ~1bp – Uninsured average Bureau score5 of 792, stable quarter- over-quarter – Less than 1% of the RESL portfolio is uninsured, has a bureau score of 650 or lower and LTV greater than 75% Condo and Investor6 RESL credit quality consistent with broader portfolio – Condo RESL represented ~15% of RESL outstanding with 18% insured – Investor RESL represented ~12% of RESL outstanding Maturity Schedule ($B)1 Regional Breakdown3 ($B) $9.5 $59.8 $70.3 $50.6 $35.3 $7.8 $37.6 $18.1 $26.3 $62.6 $17.3 $97.4 $88.4 $76.9 $97.9 FY26 (Q4) FY27 FY28 FY29 FY30+ Variable Rate Fixed Rate Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Uninsured 54 56 57 59 59 Insured 54 55 57 58 58 Canadian RESL Portfolio – Current Loan to Value (%)2 22% 9% 10% 28% 15%78% 91% 90% 72% 85% Atlantic BC Ontario Prairies Quebec Uninsured Insured $422B $233 $57 $36 $85 $11 5% 26% 23% 20% 26% % of Total Amortizing Balances 32 — TD QUARTERLY RESULTS PRESENTATION Canadian Real Estate Secured Lending Portfolio
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Canadian Personal Banking Highlights Gross impaired loans stable quarter-over-quarter Canadian Personal Banking (Q3/26)1 Canadian RESL Portfolio – Loan to Value by Region (%)2, 3 Gross Loans ($B) GIL ($MM) GIL/Loans (%) Residential Mortgages 242.0 552 0.23 Home Equity Lines of Credit (HELOC) 177.2 244 0.14 Indirect Auto 33.0 117 0.35 Credit Cards 23.0 188 0.82 Other Personal 13.0 67 0.52 Unsecured Lines of Credit 10.6 47 0.44 Total Canadian Personal Banking 488.2 1,168 0.24 Change vs. Q2/26 5.4 15 - Q2/26 Q3/26 Mortgage HELOC Total RESL Mortgage HELOC Total RESL Atlantic 64 56 60 64 57 61 BC 63 54 58 63 55 59 Ontario 65 54 59 65 55 59 Prairies 64 55 59 64 56 60 Quebec 62 59 60 61 59 60 Canada 64 55 59 64 56 59 33 — TD QUARTERLY RESULTS PRESENTATION
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Canadian Commercial and Wholesale Banking Highlights Gross impaired loans decreased quarter-over-quarter, driven by: – Lower gross impaired loans in the Canadian Commercial and Wholesale lending portfolios Canadian Commercial and Wholesale Banking (Q3/26) Industry Breakdown1 Gross Loans ($B) GIL ($MM) GIL/Loans (%) Commercial Banking1 143.9 982 0.68 Wholesale Banking 114.6 122 0.11 Total Canadian Commercial and Wholesale Banking 258.5 1,104 0.43 Change vs. Q2/26 13.3 (55) (0.05) Gross Loans ($B) GIL ($MM) Real Estate – Residential 30.0 58 Real Estate – Non-residential 31.8 61 Financial 61.6 5 Govt-PSE-Health & Social Services 18.7 68 Oil and Gas 2.6 3 Metals and Mining 4.7 34 Forestry 0.9 16 Consumer2 10.6 154 Industrial/Manufacturing3 14.4 227 Agriculture 14.1 82 Automotive 14.6 111 Other4 54.5 285 Total $258.5 $1,104 34 — TD QUARTERLY RESULTS PRESENTATION
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U.S. Personal Banking U.S. Personal Banking (Q3/26) U.S. Real Estate Secured Lending Portfolio Indexed Loan to Value (LTV) Distribution and Refreshed FICO Scores2 Current Estimated LTV Residential Mortgages (%) 1st Lien HELOC (%) 2nd Lien HELOC (%) Total (%) >80% 7 2 5 6 61-80% 27 11 43 28 <=60% 66 87 52 66 Current FICO Score >700 92 85 81 90 In USD unless otherwise specified Gross Loans ($B) GIL ($MM) GIL/Loans (%) Residential Mortgages 33.9 388 1.14 Home Equity Lines of Credit (HELOC)1 9.3 235 2.53 Indirect Auto 32.2 270 0.84 Credit Cards 13.6 250 1.85 Other Personal 0.9 10 1.08 Total U.S. Personal Banking (USD) 89.9 1,153 1.28 Change vs. Q2/26 (USD) 0.8 5 (0.01) Foreign Exchange 36.1 464 n/a Total U.S. Personal Banking (CAD) 126.0 1,617 1.28 35 — TD QUARTERLY RESULTS PRESENTATION Highlights Continued good asset quality in U.S. Personal Banking
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U.S. Commercial Banking Highlights Gross impaired loans decreased quarter-over-quarter as resolutions outpaced new formations U.S. Commercial Banking (Q3/26) Commercial Real Estate In USD unless otherwise specified Gross Loans ($B) GIL ($MM) GIL/Loans (%) Commercial Real Estate (CRE) 28.4 407 1.43 Non-residential Real Estate 17.9 222 1.24 Residential Real Estate 10.5 185 1.76 Commercial & Industrial (C&I) 55.2 486 0.88 Total U.S. Commercial Banking (USD) 83.6 893 1.07 Change vs. Q2/26 (USD) (0.7) (143) (0.16) Foreign Exchange 33.5 358 n/a Total U.S. Commercial Banking (CAD) 117.1 1,251 1.07 Gross Loans (US$B) GIL (US$MM) Office 3.2 165 Retail 5.5 43 Apartments 9.9 170 Residential for Sale 0.2 11 Industrial 2.2 10 Hotel 0.3 2 Commercial Land 0.1 - Other 7.0 6 Total CRE 28.4 407 Commercial & Industrial Gross Loans (US$B) GIL (US$MM) Health & Social Services 9.2 42 Professional & Other Services 6.7 109 Consumer1 7.0 63 Industrial/Manufacturing2 6.5 73 Government/PSE 11.1 33 Financial 6.1 1 Automotive 1.6 5 Other3 7.0 160 Total C&I 55.2 486 36 — TD QUARTERLY RESULTS PRESENTATION
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Canada U.S. Total Bank Impaired PCL Rate - Personal Impaired PCL Rate – Business & Government (B&G) 1.21% 1.22% 1.31% 1.31% 1.22% 1.18% Q2'25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 U.S. Personal 0.49% 0.45% 0.50% 0.51% 0.50% 0.48% Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Total Personal 0.26% 0.30% 0.31% 0.32% 0.31% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Canadian Personal 0.23% 0.12% 0.18% 0.10% 0.20% 0.12% Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Canadian B&G 0.27% 0.44% 0.26% 0.87% 0.39% 0.13% Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 U.S. B&G 0.27% 0.26% 0.21% 0.45% 0.28% 0.12% Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Total B&G 37 — TD QUARTERLY RESULTS PRESENTATION Provision for Credit Losses – Impaired1 By Geographic Location
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Endnotes on Slides 2 to 3 Slide 2 1. The Bank prepares its Interim 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” results. The Bank also utilizes non-GAAP financial measures such as “adjusted” results (i.e., reported results excluding "items of note") and non-GAAP ratios to assess each of its businesses and to measure overall Bank performance. The Bank believes that non-GAAP financial measures and non-GAAP ratios provide the reader with a better understanding of how management views the Bank’s performance. Non-GAAP financial measures and non-GAAP ratios used in this presentation are not defined terms under IFRS and, therefore, may not be comparable to similar terms used by other issuers. Refer to the "How We Performed" or "How Our Businesses Performed" sections of the Bank's Q3 2026 MD&A (available at https://www.td.com/investor-relations and www.sedarplus.ca), which is incorporated by reference, for further explanation, a list of the items of note, and a reconciliation of adjusted to reported results. 2. For additional information about this metric, refer to the Glossary in the Bank's Q3 2026 MD&A, which is incorporated by reference. 3. Pre-tax, pre-provision earnings (PTPP) is a non-GAAP financial measure that is typically calculated by subtracting expenses from revenues. At the total Bank level, TD calculates PTPP as the difference between adjusted revenue (for U.S. Banking in US$) net of insurance service expense (ISE), and adjusted expenses (for U.S. Banking in US$), grossed up by the retailer program partners' share of PCL for the Bank's U.S. strategic cards portfolio. Collectively, these adjustments provide a measure of PTPP that management believes is more reflective of underlying business performance. 4. This measure has been calculated in accordance with the Office of the Superintendent of Financial Institutions Canada's (OSFI's) Capital Adequacy Requirements guideline. 5. The Bank's fiscal 2026 and medium-term financial targets are based on forward-looking assumptions that have inherent risks and uncertainties. Results may vary depending on actual economic conditions, including the level of unemployment, interest rates, and economic growth or contraction, the operating environment, including regulatory requirements, political environment, and competitive landscape, and the Bank's assumptions on future business performance, including credit conditions and performance, inclusive of policy and trade uncertainty and borrower or industry specific credit factors and conditions, and foreign exchange impact. These assumptions are subject to inherent uncertainties and may vary based on factors outside the Bank’s control. For additional information about risks and uncertainties that may impact the Bank's estimates refer to Slide 1 of this presentation and in the “Risk Factors That May Affect Future Results” section of the Bank's Q3 2026 MD&A. 6. The Bank’s expectations regarding expense growth are based on the Bank’s assumptions regarding certain factors, including governance and control investments, timing of business investments, employee-related expenses, foreign exchange impact, gross-up of the retailer program partners’ share of PCL for the Bank’s U.S. strategic cards portfolio (“SCP Impact”), and productivity and restructuring savings. In particular in estimating its expense growth expectations, the Bank has assumed that the following three factors on the Bank’s fiscal 2026 adjusted expenses will be the same as the Bank’s fiscal 2025 adjusted expenses: (i) variable compensation in Wholesale Banking and Wealth Management, (ii) foreign exchange translation, and (iii) SCP Impact. For reference, in the third quarter of 2026, variable compensation, foreign exchange translation, and the SCP impact, in the aggregate, accounted for approximately 3% of the year-over-year 4% increase in adjusted non-interest expenses. The Bank’s assumptions are subject to inherent uncertainties and may vary based on factors both within and outside the Bank’s control, including the accuracy of the Bank’s employee compensation and benefit expense forecasts, impact of business performance on variable compensation, inflation, the pace of productivity initiatives across the organization, and unexpected expenses such as legal matters. For additional information about risks and uncertainties that may impact the Bank’s estimates refer to Slide 1 of this presentation and in the “Risk Factors That May Affect Future Results” section of the Bank’s Q3 2026 MD&A. 7. Operating Leverage is a non-GAAP measure that the Bank calculates as the difference between the percentage change in adjusted revenue (U.S. Banking in US$) net of insurance service expense, and adjusted expenses (U.S. Banking in US$) grossed up by the retailer program partners’ share of PCL for the Bank’s U.S. strategic cards portfolio. Collectively, these adjustments provide a measure of operating leverage that management believes is more reflective of underlying business performance. 8. The Bank’s estimated PCL range is based on forward-looking assumptions that have inherent risks and uncertainties. Results may vary depending on actual economic or credit conditions and performance, such as the level of unemployment, interest rates, economic growth or contraction, and borrower or industry specific credit factors and conditions, inclusive of policy and trade uncertainty. The Bank's PCL estimate is subject to risks and uncertainties including those set out on Slide 1 of this presentation and in the "Risk Factors That May Affect Future Results" section of the Q3 2026 MD&A. 9. PCL Ratio: Provision for Credit Losses on a quarterly annualized basis/Average Net Loans. Slide 3 1. TD received the highest score in the JD Power 2026 Canada Banking Mobile App Satisfaction Study which measures customer satisfaction with financial institutions' mobile applications for banking account management. Visit jdpower.com/awards for more details. 2. Please refer to Slide 2, Endnote 1. 3. Loan portfolios identified for sale or run-off include the Point-of-Sale finance business which services third party retailers, correspondent lending, export and import lending, commercial auto dealer portfolio, and other non-core portfolios. Q3 2026 average loan volumes: US$173 billion (Q2 2026: US$173 billion; Q3 2025: US$180 billion). Q3 2026 average loan volumes of loan portfolios identified for sale or run-off: US$8 billion (Q2 2026: US$9 billion; Q3 2025: US$19 billion). Q3 2026 average loan volumes excluding loan portfolios identified for sale or run-off US$165 billion (Q2 2026: US$164 billion; Q3 2025: US$161 billion). 4. Any new branch opening is subject to approval by the Office of the Comptroller of the Currency and the targeted number of new branches is based on assumptions regarding the availability of appropriate real estate in the geographies currently identified by management and successful execution of management's branch optimization plan, and other variables, and is subject to inherent risks and uncertainties, including those set out on Slide 1 of this presentation and in the "Risk Factors That May Affect Future Results" section of the Q3 2026 MD&A 5. TD Auto Finance received the highest score in the non-captive national – prime segment in the JD Power 2020-2026 U.S. Dealer Financing Satisfaction Studies of dealers’ satisfaction with automotive finance providers. Visit jdpower.com/awards for more details. 6. Source: MoneySense, June 2026. 7. Source: International Data Corporation (IDC) Canada, 2026. 8. Source: Bloomberg, January 1, 2026 through August 15, 2026. 9. Source: Global Transaction Banking Innovation Awards, July 2026. 38 — TD QUARTERLY RESULTS PRESENTATION
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Endnotes on Slides 4 to 9 Slide 4 1. Please refer to Slide 2, Endnote 5. 2. Please refer to Slide 2, Endnote 1. 3. Please refer to Slide 2, Endnote 2. 4. Efficiency ratio (net of ISE) is a non-GAAP ratio. The adjustment of insurance service expense (ISE) provides a measure of efficiency that management believes is more reflective of underlying business performance. 5. TD calculates adjusted organic capital accretion as adjusted net income after-tax less dividends less risk-weighted assets (RWA) growth (excluding Model / Methodology updates and FX), which is converted to basis points (bps) impact to Common Equity Tier 1 (CET1) capital. Capital accretion measures performance of generating incremental capital. Slide 5 1. The Bank's expectations regarding fiscal 2026 and medium-term targets for incremental revenue and cost savings driven by AI are subject to inherent uncertainties and are based on the Bank's assumptions regarding certain factors, including general economic and market conditions and the prioritization and timing of business investments to execute against delivery roadmaps. These assumptions are subject to inherent uncertainties and may vary based on factors outside the Bank’s control. For additional information about risks and uncertainties that may impact the Bank's estimates refer to Slide 1 of this presentation and in the “Risk Factors That May Affect Future Results” section of the Bank's Q3 2026 MD&A. Slide 6 1. TD was recognized as a certified Great Place to Work® July 2026 in the U.S. Slide 7 1. As previously disclosed in the Bank’s 2024 MD&A, on October 10, 2024, the Bank announced that, following active cooperation and engagement with authorities and regulators, it reached a resolution (the "Global Resolution") of previously disclosed investigations related to its U.S. Bank Secrecy Act ("BSA") and Anti-Money Laundering ("AML") compliance programs (collectively, the "U.S. BSA/AML program"). 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 Enforcement Network (FinCEN) and entered into plea agreements with the Department of Justice (DOJ), Criminal Division, Money Laundering and Asset Recovery Section and the United States Attorney’s Office for the District of New Jersey. The Bank is focused on meeting the terms of the consent orders and plea agreements, including meeting the requirements to remediate the Bank’s U.S. BSA/AML program. In addition, the Bank is also undertaking remediation of the Bank’s enterprise-wide AML/Anti-Terrorist Financing and Sanctions Programs (“Enterprise AML Program”). For additional information on the Global Resolution, the Bank's U.S. BSA/AML program remediation activities, the Bank’s Enterprise AML Program improvement activities, and the risks associated with the foregoing, see Slide 1 of this presentation and the “Update on the Remediation of the U.S. BSA/AML Program and Enterprise AML Program” and “Risk Factors That May Affect Future Results – Remediation of the Bank's U.S.BS/AML Program and Enterprise AML Program” sections of the Bank’s 2025 MD&A and "Update on the remediation of the U.S. Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Program and Enterprise AML Program" section of the Bank's Q3 2026 MD&A. Slide 8 1. Please refer to Slide 2, Endnote 1. 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 of underlying business performance. Slide 9 1. Please refer to Slide 2, Endnote 1. 2. Net interest margin (NIM) is calculated by dividing net interest income by average interest-earning assets. This metric is an indicator of the profitability of the Bank’s earning assets less the cost of funding. Average interest-earning assets used in the calculation of NIM is a non-GAAP financial measure. NIM and average interest-earning assets are not defined terms under IFRS and, therefore, may not be comparable to similar terms used by other issuers. 3. The Bank’s Q4 2026 net interest margin expectations for the segment are based on the Bank’s assumptions regarding factors such as Bank of Canada rate actions, competitive market dynamics, and deposit reinvestment rates and maturity profiles, and are subject to inherent risks and uncertainties, including those set out on Slide 1 of this presentation and in the “Risk Factors That May Affect Future Results” section of the Bank’s Q3 2026 MD&A. 39 — TD QUARTERLY RESULTS PRESENTATION
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Endnotes on Slides 10 to 16 Slide 10 1. Please refer to Slide 2, Endnote 1. 2. Please refer to Slide 3, Endnote 3. 3. Please refer to Slide 2, Endnote 2. 4. Net interest margin is calculated by dividing U.S. Banking segment’s net interest income by average interest-earning assets excluding the impact related to sweep deposits arrangements and the impact of intercompany deposits and cash collateral, which management believes better reflects segment performance. In addition, the value of tax-exempt interest income is adjusted to its equivalent before-tax value. For investment securities, the adjustment to fair value is included in the calculation of average interest-earning assets. Net interest income and average interest-earning assets used in the calculation are non-GAAP financial measures. 5. The Bank’s Q4 2026 net interest margin expectations for the segment are based on the Bank’s assumptions regarding interest rates, deposit reinvestment rates, average asset levels, execution of planned restructuring opportunities, and other variables, and are subject to inherent risks and uncertainties, including those set out on Slide 1 of this presentation and in the “Risk Factors That May Affect Future Results” section of the Bank's Q3 2026 MD&A. 6. The total amount expected to be spent on remediation and governance and control investments is subject to inherent uncertaint ies and may vary based on (i) the scope of work in the U.S. BSA/AML remediation plan which could change as a result of additional findings that are identified as work progresses, (ii) actual third party monitor and lookback review costs which could vary from initial estimates and are not entirely within the control of the Bank, as well as (iii) the Bank’s ability to successfully execute against the U.S. BSA/AML remediation program in accordance with the U.S. Banking segment’s fiscal 2026 and medium-term plan. For additional information about risks and uncertainties that may impact the Bank's estimates refer to Slide 1 of this presentation and in the “Risk Factors That May Affect Future Results” section of the Bank's Q3 2026 MD&A. In addition, please refer to Slide 7, Endnote 1. 7. The Bank’s expectations regarding expense growth are based on the assumptions regarding certain factors, including the Bank’s ability to successfully execute against its governance and control initiatives, including U.S. BSA/AML remediation, the timing of business investments, and productivity and restructuring savings. For additional information about risks and uncertainties that may impact the Bank's estimates refer to Slide 1 of this presentation and in the “Risk Factors That May Affect Future Results” section of the Bank's Q3 2026 MD&A. Slide 11 1. Please refer to Slide 2, Endnote 1. 2. Effective the first quarter of 2026, comparative amounts have been restated for alignment with the presentation adopted in the c urrent period. 3. Includes AUA administered by TD Investment Services Inc. which is part of the Canadian Personal and Commercial Banking segment. Slide 12 1. Please refer to Slide 2, Endnote 1. Slide 13 1. Please refer to Slide 2, Endnote 1. 2. After the termination of the merger agreement between the Bank and First Horizon on May 4, 2023, the residual impact of the strategy is reversed through net interest income. 3. The second quarter of 2026 income tax impact includes an adjustment to the Bank's estimate of taxes owed on the gain from its disposition of Schwab shares in the prior year. Refer to "Income Taxes" in the "Financial Results Overview" section of the Bank's Q3 2026 MD&A. 4. Please refer to Slide 2, Endnote 2. Slide 14 1. Capital and liquidity measures are calculated in accordance with OSFI's Capital Adequacy Requirements, Leverage Requirements, and Liquidity Adequacy Requirements guidelines. 2. Please refer to Slide 2, Endnote 1. 3. Numbers may not add due to rounding. Slide 15 1. Gross Impaired Loan formations represent additions to Impaired Loans during the quarter. 2. GIL Formations Ratio: Gross Impaired Loan Formations/Average Gross Loans. Slide 16 1. GIL Ratio: Gross Impaired Loans/Gross Loans & Acceptances (both are spot) by portfolio. 40 — TD QUARTERLY RESULTS PRESENTATION
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Endnotes on Slides 17 to 25 Slide 17 1. PCL Ratio: Provision for Credit Losses on a quarterly annualized basis/Average Net Loans. 2. Net Total Bank and U.S. Banking PCL ratios exclude credit losses associated with the retailer program partners' share of the U.S. Strategic Cards Portfolio, which is recorded in the Corporate Segment. 3. Gross Total Bank, U.S. Banking & Corporate PCL ratios include the retailer program partners' share of the U.S. Strategic Cards Portfolio, which is recorded in the Corporate Segment. 4. Please refer to Slide 2, Endnote 1. Slide 18 1. PCL-impaired represents Stage 3 PCL under IFRS 9, performing represents Stage 1 and Stage 2 on financial assets, loan commitments, and financial guarantees. Slide 19 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. Consumer instalment and other personal includes the HELOC, Indirect Auto and Other Personal portfolios. 5. The Bank’s estimated PCL range is based on forward-looking assumptions that have inherent risks and uncertainties. Results may vary depending on actual economic or credit conditions and performance, such as the level of unemployment, interest rates, economic growth or contraction, and borrower or industry specific credit factors and conditions, inclusive of policy and trade uncertainty. The Bank's PCL estimate is subject to risks and uncertainties including those set out on Slide 1 of this presentation and in the "Risk Factors That May Affect Future Results" section of the Bank's Q3 2026 MD&A. Slide 21 1. This column refers to specific page(s) and line items of the Bank's Q3 2026 Supplementary Financial Information package. 2. Please refer to Slide 13, Endnote 2. 3. Please refer to Slide 2, Endnote 1 Slide 23 1. Please refer to Slide 2, Endnote 1. 2. Adjusts for the impact of foreign exchange on the U.S. Banking Bank by using source currency figures. These adjustments are done to reflect measures that the Bank believes are more reflective of underlying business performance. 3. Adjusts for the impact of the accounting requirements for the U.S. strategic cards portfolio. Eliminating the partners' share of the PCL removes a source of volatility that is not reflective of the Bank's underlying economic exposure. This can be done by adding Corporate PCL (which consists solely of the partners' share of the PCL) back to non-interest expenses. See Slide 22 for further information. 4. Excluding only the impact of the US Strategic Card Portfolio partners' share, year-over year expense growth would have been 6% ($8,109 in Q3 2026 and $7,656 in Q3 2025), representing a year-over-year increase of $453MM. Slide 24 1. Numbers may not add due to rounding. 2. Excludes banking book in Wholesale Banking segment. Q3'26 NII impact from 100bps change in interest rates across the curve for banking book in Wholesale Banking is: (C$3MM) for CAD +100bps, C$3MM for CAD -100bps, (C$102MM) for USD +100bps and C$94MM for USD -100bps. Slide 25 1. Numbers may not add due to rounding. 2. Canada: based on Personal Banking, Direct Investing (excluding self-serve transactions) and Business Banking. U.S.: based on U.S. retail banking and small business banking. 3. Users who have logged in via their mobile device at least once in the last 90 days. 4. All financial transactions that are processed through unassisted channels (Online, Mobile, ATM, and Phone IVR). 5. Share of accounts with an accountholder registered for digital self-service at the end of the quarter. 6. Number of self-service transactions completed on the MyInsurance platform. 7. The Bank's medium-term digital targets are based on forward-looking assumptions that have inherent risk and uncertainties and are based on the Bank's assumptions regarding certain factors, including general economic and market conditions and the prioritization and timing of business investments to execute against delivery roadmaps. Refer to Slide 1 and the “Risk Factors That May Affect Future Results” section of the Bank’s Q3 2026 MD&A for additional information about risks and uncertainties that may impact the Bank’s targets. 8. LTM: Last Twelve Months. 41 — TD QUARTERLY RESULTS PRESENTATION
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Endnotes on Slides 26 to 33 Slide 26 1. Please refer to Slide 2, Endnote 1. 2. Numbers may not add due to rounding. Slide 27 1. Please refer to Slide 2, Endnote 1. 2. Numbers may not add due to rounding. 3. Insured deposit accounts. Slide 28 1. Gross written premiums for home and auto insurance and collected premiums for life and health insurance. 2. Please refer to Slide 2, Endnote 1. Slide 29 1. Please refer to Slide 11, Endnote 3. 2. Please refer to Slide 11, Endnote 2. Slide 30 1. Average gross lending portfolio includes gross loans relating to Wholesale Banking, excluding letters of credit, cash collateral, credit default swaps, and allowance for credit losses. 2. Other includes investment portfolios and other accounting adjustments. Slide 31 1. U.S. HELOC includes Home Equity Lines of Credit and Home Equity Loans. 2. Includes loans measured at fair value through other comprehensive income. Slide 32 1. Excludes revolving HELOC, 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/or the HELOC authorized credit limit for both i nsured and uninsured exposures, excluding the Wholesale mortgage portfolio. The Teranet-National Bank House Price Index is a trademark of Teranet Enterprises Inc. and National Bank of Canada and has been licensed for internal use by The Toronto- Dominion Bank's Real Estate Secured Lending team only. Teranet-National Bank House Price IndexTM data and marks are used with the permission of Teranet Inc. and National Bank of Canada. The contents of this work and any product to which it relates are not endorsed, sold or promoted by Teranet, NBC nor any of their suppliers or affiliates. None of Teranet, NBC, nor their third party data licensors nor any of their affiliates make any express or implied warranties, and expressly disclaim all warranties of merchantability, fitness for a particular purpose or use, adequacy, accuracy, timeliness or completeness with respect to the work product and any product it relates to. Without limiting the foregoing, in no event shall Teranet, NBC, their third party licensors or their affiliates shall be subject to any damages or liabilities for any errors, omissions or delays of the dissemination of the Index nor be liable for any direct, special, incidental, punitive or consequential damages, even if they have been advised of the possibility of such damages, whether in contract, tort, strict liability or otherwise. 3. The territories are included as follows: Yukon is included in British Columbia; Nunavut is included in Ontario; and Northwest Territories is included in the Prairies region. 4. Amortizing includes loans where the fixed contractual payments are no longer sufficient to cover the interest based on the rates in effect at January 31, 2026. 5. Average bureau score is exposure weighted. 6. Investor RESL reflects RESL where collateral is a non-owner-occupied investment property. Slide 33 1. Excludes Wealth Management & Insurance segment and Wholesale mortgage portfolio. 2. Please refer to Slide 32, Endnote 2. 3. Please refer to Slide 32, Endnote 3. 42 — TD QUARTERLY RESULTS PRESENTATION
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Endnotes on Slides 34 to 37 Slide 34 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 includes: Power and Utilities; Telecommunications, Cable and media; Transportation; Professional and Other Services; Other. Slide 35 1. Please refer to Slide 31, Endnote 1. 2. Loan To Value is calculated with the Loan Performance Home Price Index, based on outstanding mortgage balance and/or the HELO C authorized credit limit. Slide 36 1. Please refer to Slide 34, Endnote 2. 2. Please refer to Slide 34, Endnote 3. 3. Other includes: Agriculture; Power and utilities; Telecommunications, Cable and media; Transportation; Forestry; Metals and mining; Oil and gas; Other. Slide 37 1. Stage 3 provision for (recovery of) credit losses (impaired) as a % of Average Net Loans, on a quarterly annualized basis. Primarily based on the geographic location responsible for recording the transaction. International not shown. Includes loans that are measured at FVOCI. Includes provision for off-balance sheet instruments. 43 — TD QUARTERLY RESULTS PRESENTATION
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Investor Relations Contacts Phone: (416) 308-9030 or 1 (866) 486-4826 Email: tdir@td.com Website: https://www.td.com/investor-relations 44 — TD QUARTERLY RESULTS PRESENTATION