Financial Performance and Outlook

Restructuring Program The Bank undertook certain measures in the fourth quarter of 2023 to reduce its cost base and achieve greater efficiency ■ What is the size of the restructuring program? - $363MM pre-tax / $266MM after-tax was incurred in Q4'23 - The Bank expects to incur additional restructuring charges of a similar magnitude in the first half of calendar 2024 ■ What is the expected impact on expenses? - For F'24, expect savings of -$400MM pre-tax - For the full restructuring program, expect fully realized annual cost savings of -$600MM pre-tax - Creates capacity to reinvest ■ Which areas are the cost savings coming from? - - Restructuring costs primarily relate to employee severance and other personnel-related costs, real estate optimization, and asset impairments as we accelerate transitions to new platforms - 3% FTE reduction through attrition and targeted actions TD 11

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