TD Bank Group Engages Diversity Firms to Actively Lead a US$500 Million Green Bond Offering - a First Among Canadian Issuers

TORONTO, December 14, 2021 /3BL Media/ - Today, The Toronto-Dominion Bank ("TD" or the "Bank") closed a three-year US$500 million green bond offering through a syndicate of underwriters that includes minority-, women- and veteran-owned business enterprises (MWVBEs). This is the first time that a Canadian bank bond offering has been led by a syndicate group that included MWVBEs as Active Joint Bookrunners, reflecting TD's strong commitment to diversity and inclusion.

The transaction marks TD's first green bond issuance under its Sustainable Bonds Framework (the "Framework") (published in August 2020) and fourth environmental, social, and governance (ESG)-themed corporate bond issuance overall – bringing its total ESG-bond issuance to approximately C$3.0 billion. The proceeds from this issuance will be used to finance and/or refinance, in part or in whole, loans, investments and projects that meet the Framework's criteria, which may include green buildings, clean transportation, renewable energy or other loans, investments or projects that promote the green eligible categories described in the Bank's Framework.

"TD is proud to engage an underwriting team that includes minority-, women- and veteran-owned business enterprises as Active Joint Bookrunners, fostering greater inclusion and promoting progress," said Barbara Hooper, Senior Executive Vice President, Treasury, Corporate Development, Strategic Sourcing and Real Estate, TD Bank Group. "Through this model, TD is able to benefit from the diverse and vast capabilities of these firms, while building on our longstanding commitment to sustainable finance."

This issuance and the composition of the syndicate reflects TD's commitment to proactively embed ESG principles across its business. This new bond aligns with the Bank's commitment to support the transition to the low-carbon economy and contributes to furthering the Bank's Climate Action Plan, with an ambitious goal to achieve net-zero greenhouse gas emissions by 2050 across its operations and financing activities.

"At TD, we are committed to a more inclusive and sustainable future and excited to work with our clients and investors to support environmental and social progress through green bonds," said Norie Campbell, Group Head and General Counsel. "TD Securities is proud to be a part of Canada's first syndicate of active Diversity & Inclusion underwriters that reflects our commitment to advancing a low-carbon economy while furthering diversity in capital markets."

The MWVBE Active Joint Bookrunners included are:

TD Securities (USA) LLC and J.P. Morgan Securities LLC were also Active Joint Bookrunners on the transaction.

TD was the first major bank in North America to become carbon neutral in 2010. In 2017, TD was the first Canadian bank to set a target in support of the transition to the low-carbon economy – $100 billion, in total, in low-carbon lending, financing, asset management and internal corporate programs by 2030. As part of furthering the Bank's commitment to climate action, TD announced its pledge to join the United Nations convened Net-Zero Banking Alliance, a global, industry-led initiative to accelerate and support efforts to address climate change. TD was also recently listed on the Dow Jones Sustainability World Index for the 8^th consecutive year and is the top ranked North American-based bank on this index.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the fifth largest bank in North America by assets and serves more than 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.7 trillion in assets on October 31, 2021. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

For further information: Gillian Manning, Head of Investor Relations, 416-308-6014, Gillian.manning@td.com; Natasha Ferrari, Manager, Corporate and Public Affairs, TD Bank Group, 416-400-9098, Natasha.ferrari@td.com