Commentary & Deal Flow

Reoffer: 3yr: SONIA+53bp / 100

Tranche 1 (3yr): Final Books >£915m+ (incl. £55m JLM interest). Peak book in excess of £950m+ (incl. £55m JLM interest)

Launched: 3yr: £750m @ SONIA+53bp - In excess of £950m+ (incl. £55m JLM interest)
Book Update: Books over £900m+ (incl. £55m JLM interest)
Guidance: 3yr: SONIA+56a

• Issuer: The Toronto-Dominion Bank
• LEI: PT3QB789TSUIDF371261
• Ticker: TD
• Format: Reg S (Registered, NSS)
• Type: Canadian legislative covered bond, backed by prime Canadian residential mortgages
• Guarantor: TD Covered Bond (Legislative) Guarantor Limited Partnership
• Expected Issue Ratings: Aaa/AAA/AAA by Moody's, Fitch and DBRS
• Distribution: As set out in the Prospectus, Regulation S, Category 2, TEFRA not applicable, Not Rule 144A eligible. Not to be offered, sold or otherwise made available in the UK in a principal amount of less than GBP 100,000. Not to be offered, sold or distributed, directly or indirectly, in Canada or to or for the benefit of any resident in Canada. Singapore Sales to Institutional Investors and Accredited Investors only
• Size: GBP 750,000,000
• Pricing Date: 22-Oct-26
• Settlement Date: 29-Oct-26 (T+5)
• Maturity Date: 29-Oct-29 (soft bullet)
• Initial Coupon: Floating, SONIA + 53bps, Compounded Daily SONIA, 5 LBD observation lag, Quarterly, Act/365 (Fixed)
• Reoffer: 100%
• UK MiFIR / MiFID II Target Market: Professional investors and ECPs only target market (all distribution channels)
• Denomination: GBP100,000 and integral multiples of GBP1,000 in excess thereof
• Governing Law: Province of Ontario and Canada
• Listing: London Stock Exchange (Main Market)
• Clearing: Euroclear / Clearstream
• Documentation: The Issuer’s CAD 100bn Global Legislative Covered Bond Programme prospectus dated 23-Jun-26, as supplemented (the "Prospectus")
• Joint Lead Managers: Barclays, Lloyds, Nomura, Standard Chartered Bank, TD Securities (B&D)
• Fee: Joint Lead Managers will be paid a fee in connection to the transaction
• ISIN: XS3553896773
• Timing: PRICED / TOE: 12:40 LDN / FTT 13:00 LDN
• Advertisement: The Prospectus and the Final Terms when published, available on https://www.td.com/ca/en/about-td/for-investors/investor-relations/fixed-income-investor/debt-information/td-global-legislative-covered-bond-programme