TORONTO, July 19, 2021 / CNW / – TD Bank Group (the “Bank”) today announced that it expects the second quarter earnings of The Charles Schwab Corporation (“Schwab”) to translate into approximately $ 170 million. Canadian dollars of equity reported in net income from an investment in Schwab for the Bank’s Third Quarter of Fiscal 2021. Excluding charges related to the acquisition of approximately C $ 18 million after tax and amortization of intangible assets acquired from approximately CDN $ 33 million after tax, the adjusted equity in net income of an investment in Schwab will be approximately CDN $ 221 million.

TD Bank Group to Release Third Quarter Financial Results and Hold a Results Conference Call on August 26, 2021. Details of the conference call and audio webcast will be announced closer to that date.

Caution regarding the use of non-GAAP information

The Bank’s financial results are prepared in accordance with International Financial Reporting Standards (IFRS), the generally accepted accounting principles (GAAP) in force. The Bank designates results prepared in accordance with IFRS as “published” results. The Bank also uses non-GAAP financial measures called “adjusted” results to assess each of its activities and measure the Bank’s overall performance. To arrive at adjusted results, the Bank removes “items of note” from reported results. Items of note relate to items that management believes are not representative of underlying business performance. The Bank believes that the adjusted results provide the reader with a better understanding of how management views the performance of the Bank. As explained, the adjusted results are different from the published results determined in accordance with IFRS. Adjusted results, items of note and related terms used in this document are not defined terms under IFRS and, therefore, may not be comparable to similar terms used by other issuers. Please refer to the section “Overview of Financial Results – Presentation of the Bank’s Reports” of the Bank’s 2020 MD&A, as may be updated in the quarterly reports subsequently filed with shareholders, for a reconciliation between the reported and adjusted results of the Bank.

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Caution regarding forward-looking information

From time to time, The Toronto-Dominion Bank (the “Bank” or “TD”) makes written and / or oral forward-looking statements, including in this document, in other documents filed with Canadian regulators or of the United States (US) 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 in accordance with the “safe harbor” provisions and are deemed to be forward-looking statements under applicable Canadian and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995. forward-looking statements include: but not limited to, statements made in this document, statements made in the Bank’s MD&A for the quarter ended April 30, 2021 under the heading “How We Performed”, including under the sub-sections “Economic summary and outlook” and “The Bank’s response to COVID-19” and under the section “Risk management”, the statements made in the Bank’s management report (“MD&A 2020”) in the Bank’s 2020 Annual Report under the headings “Economic Summary and Outlook” and “The Bank’s Response to COVID-19”, for the Banking Services segments retail areas in Canada, the United States and wholesale under the headings “Top Priorities for 2021”, and for the Enterprise segment, “Focus for 2021”, and in other statements regarding the Bank’s objectives and priorities for 2021 and beyond and the strategies to achieve them, the regulatory environment in which the Bank operates, the anticipated financial performance of the Bank and the economic, financial and other potential impacts of coronavirus disease 2019 (COVID-19) . Forward-looking statements are generally identified by words such as “will”, “should”, “should”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, ” plan “,” goal “,” target “,” can “and” could “.

By their very nature, these forward-looking statements require the Bank to make assumptions and are subject to inherent risks and uncertainties, both general and specific. Particularly in light of the uncertainty associated with the physical, financial, economic, political and regulatory environments, these risks and uncertainties – many of which are beyond the Bank’s control and the effects of which may be difficult to predict – may lead to actual results. à differ materially from the expectations expressed in forward-looking statements. Risk factors that could cause, individually or collectively, such differences include: strategic, credit, market (including stocks, commodities, exchange rates, interest rates and credit spreads) , operational (including technology, cybersecurity and infrastructure), model, insurance, liquidity, capital adequacy, legal, regulatory, reputational, environmental and social compliance and conduct, and other risks. Examples of these risk factors include the economic, financial and other impacts of the COVID-19 pandemic; general commercial and economic conditions in the regions in which the Bank operates; geopolitical risk; the Bank’s ability to implement long-term strategies and short-term key strategic priorities, including successful completion of acquisitions and divestitures, business continuity plans and strategic plans; technology and cybersecurity risks (including cyber attacks or data breaches) on information technology, the internet, network access or other voice communication systems or services or Bank data; model risk; fraud to which the Bank is exposed; non-compliance by third parties with their obligations towards the Bank or its affiliates, including with regard to the protection and control of information, and other risks arising from the use by the Bank of third-party service providers ; the impact of new laws and regulations, changes or the application of applicable laws and regulations, including, without limitation, tax laws, capital guidelines and liquidity regulatory guidelines and the “bail-in” regime of bank recapitalization; regulatory oversight and risk of non-compliance; increased competition from incumbent operators and new entrants (including Fintechs and major technological competitors); changing consumer attitudes and disruptive technologies; environmental and social risk; exposure related to significant litigation and regulatory matters; the Bank’s ability to attract, develop and retain key talent; changes in the Bank’s credit ratings; currency and interest rate changes (including the possibility of negative interest rates); increasing funding costs and market volatility due to market illiquidity and competition for funding; the transition risk of the offered interbank rate (IBOR); critical accounting estimates and changes in accounting standards, policies and methods used by the Bank; existing and potential international debt crises; environmental and social risk; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events.

The Bank cautions that the foregoing list is not exhaustive of all possible risk factors and that other factors could also adversely affect the results of the Bank. For more detailed information, please refer to the “Risk factors and management” section of the 2020 MD&A, which may be updated in the quarterly reports subsequently filed with shareholders and related press releases (if applicable). to any event or transaction discussed under the heading “” Significant and Subsequent Events and Pending Acquisitions “in the relevant MD&A, the applicable press releases of which can be viewed at www.td.com. All of these factors, along with other uncertainties and potential events, and the uncertainty inherent in forward-looking statements, should be carefully considered when making decisions regarding the Bank, and the Bank cautions readers not to place undue reliance on the Bank’s forward-looking statements. staring statements.

The significant economic assumptions underlying the forward-looking statements contained in this document are set out in the 2020 MD&A under the headings “Economic Summary and Outlook” and “Bank Response to COVID-19”, for retail in Canada, retail in the United States and wholesale. The banking segments, “Key Priorities for 2021” and for the Corporate segment, “Focus for 2021”, each of which can be updated in the quarterly reports subsequently filed with shareholders.

All forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of helping the shareholders and analysts of the Bank to understand the financial position, objectives and objectives of the Bank. priorities of the Bank as well as the expected financial performance on and for the periods ended on the dates presented and may not be suitable for other purposes. The Bank does not undertake to update any forward-looking statements, whether written or oral, which may be made from time to time by or on its behalf, except as required by applicable securities legislation.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (“TD” or the “Bank”). TD is the fifth largest bank in North America in terms of assets and serves more than 26 million customers in three key companies operating in a number of locations in financial centers around the world: Canadian Retail, including including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing and TD Insurance; Retail in the United States, including TD Bank, America’s Most Convenient Bank^®, TD Auto Finance US, TD Wealth (US) and an investment in The Charles Schwab Corporation; and Wholesale Banking Services, including TD Securities. TD is also one of the world’s leading online financial services companies, with more than 15 million active online and mobile customers. TD Bank had C $ 1.7 trillion in assets as of April 30, 2021. The Toronto-Dominion Bank trades under the symbol “TD” on the Toronto and New York stock exchanges.

SOURCE TD Bank Group

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