Consistent Earnings Growth and Digital Engagement
Endnotes
TD
20. The Bank prepares its 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 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
ratios used in this presentation are not defined terms under IFRS and, therefore, may not be comparable to similar terms used by other issuers.
See "Financial Results Overview" in the Bank's 2022 MD&A (available at www.td.com/investor and www.sedar.com), which is incorporated by
reference, for further explanation, reported basis results, a list of the items of note, and a reconciliation of adjusted to reported results.
21. This measure has been calculated in accordance with OSFI's Capital Adequacy Requirements guideline. See slide 25.
22. As of October 31, 2022. Credit ratings are not recommendations to purchase, sell, or hold a financial obligation in as much as they do not
comment on market price or suitability for a particular investor. Ratings are subject to revision or withdrawal at any time by the rating
organization.
23. Canadian Peers - defined as other 4 big banks (RY, BMO, BNS and CM). All Peers are based on Q4 2022 results ended October 31, 2022.
24. North American Peers - defined as Canadian Peers and U.S. Peers. U.S. Peers - defined as C, TFC, BAC, JPM, WFC, PNC, USB, based on
Q3/22 results ended September 30, 2022.
25. For the purpose of calculating contribution by each business segment, earnings from the Corporate segment are excluded. Numbers may not
add to 100% due to rounding.
26. For financial reporting purposes, the Bank's share of Schwab's earnings is part of the U.S. Retail business segment, but it is shown separately
here for illustrative purposes.
27. On October 6, 2020, the Bank acquired an approximately 13.5% stake in Schwab following the completion of Schwab's acquisition of TD
Ameritrade Holding Corporation ("TD Ameritrade") of which the Bank was a major shareholder (the "Schwab transaction"). For further details,
refer to "How the Bank reports" in the "Financial Results Overview" section of the 2022 MD&A. The Bank's share of Schwab's earnings is
reported with a one-month lag and the Bank started recording its share of Schwab's earnings on this basis in the first quarter of fiscal 2021.
28. Based on total assets. Source: SNL Financial, Top 50 US banks and Thrifts in the U.S.
29. "Best online brokers in Canada for 2022". MoneySense, August 2022. For more information, visit https://www.moneysense.ca/
30. Rankings based on data available from OSFI, Insurers, Insurance Bureau of Canada, and Provincial Regulators as at December 2021.
31. Rankings based on data available from OSFI, Insurers, Insurance Bureau of Canada, and Provincial Regulators as at December 2021.
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