Financial Performance and Outlook

Net Interest Income Canada U.S. Total Net Interest Income Sensitivity (NIIS) Strong deposit base and disciplined ALM management ■ 25 bps increase in short-term interest rates - $130MM increase in NII over a 12-month period from a 25 bps rise in short rates (25 bps hike from each of Bank of Canada and Federal Reserve Bank), assuming a constant balance sheet The 25 bps across the curve impact is $251MM ■ 100 bps change in interest rates across the curve - 100 bps increase: $920MM increase in NII over a 12- month period, assuming a constant balance sheet 100 bps decrease: $1,099MM decrease in NII over a 12-month period, assuming a constant balance sheet CAD 5-Year Swap Rate (%) 5.00 4.00 3.00 2.00 1.00 0.00 Oct-18 Oct-19 Oct-20 Oct-21 Oct-22 Increase Increase Decrease C$MM % $66 51% Net Interest Income C$MM Canada % $502 55% $64 49% U.S. $418 45% C$MM ($530) 48% ($569) % 52% $130 100% Total $920 100% ($1,099) 100% Oct-23 U.S. 7-Year Swap Rate (%) 4.29% 4.00 3.00 2.00 1.00 0.00 Oct-16 Note: The NII impact of the +100bps increase will not move proportionally to the impact of the next +25bps rate hike due to the positive added benefit of longer-term rates increasing, partially offset by other factors, including loan prepayment risk and deposit pricing sensitivity. Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 30 30 4.31% TD

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