Wholesale Banking - Positioned for Growth

P&L ($MM) Reported Q4/23 QoQ YOY Revenue 13,121 3% 878 +$112 (16%) +$261 7,883 4% 20% Net Income 2,886 (3%) (57%) Diluted EPS ($) 1.49 (5%) (59%) ROE4 10.6% -60 bps -1590 bps Adjusted¹ Q4/23 QoQ YOY Revenue 13,185 1% 8% Expenses 7,243 4% 13% Net Income 3,505 (6%) (14%) Diluted EPS ($) 1.83 (8%) (16%) ROE 13.0% -110 bps -300 bps Q4 2023 Highlights Mixed quarter EPS of $1.49, down 59% YoY Adjusted EPS of $1.83, down 16% YoY Revenue down 16% YoY (Adj¹ up 8% YoY) ■ Prior year reported revenue includes gain from the impact of the terminated First Horizon acquisition- related capital hedging strategy² and gain on sale of Schwab shares Margin growth in the personal and commercial banking businesses PCL of $878MM Expenses up 20% YoY (incl. US Strategic Card Portfolio ("SCP") partners' share) Reported expenses include restructuring charges and acquisition and integration related charges related to the Cowen acquisition ■ Reflects the inclusion of TD Cowen Higher employee-related expenses and variable compensation Adjusted¹ expenses increased 12.3% excluding the impact of SCP accounting and FX3 PCL Expenses TD 17

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