Proven business model

Deliver consistent earnings growth, underpinned by a strong risk culture

Our diversified, retail-focused business model and North American scale are powerful enablers – delivering strong results today, while allowing us to reinvest in our competitive advantages, as we build and operate businesses of the future. Our balanced approach to managing risk is evident in strong balance sheet metrics and reflects our commitment to sustaining the trust of those we serve.

TD’S PREMIUM RETAIL EARNINGS MIX¹

TD’s premium earnings mix reflects our North American retail focus - lower-risk businesses with stable, consistent earnings

Canadian Retail
U.S. Retail
Wholesale

92% Retail

8% Wholesale

Record Reported Earnings of $11.3 billion in 2018

$12.2 billion Adjusted earnings

Total Shareholder Return²
(5-year CAGR)
12.8%

9.4% Canadian peers

Safest Bank in North America, according to Global Finance

DIVIDEND HISTORY

chart representing 11% Annualized Growth

3.5%
2018 Dividend Yield

2018 Snapshot

Net Income

available to common shareholders
(millions of Canadian dollars)

light green bar represents Reported Reported green bar represents Adjusted Adjusted

Net Income chart, Reported 11.7, Adjusted 11.7

TD's 5-year CAGR

11.7% Reported & Adjusted

Diluted Earnings Per Share

(Canadian dollars)

light green bar represents Reported Reported green bar represents Adjusted Adjusted

Diluted Earnings Per Share chart, Reported 11.8, Adjusted 11.8

TD's 5-year CAGR

11.8% Reported & Adjusted

Return on Common Equity

(percent)

light green bar represents Reported Reported green bar represents Adjusted Adjusted

Return on Common Equity chart, Reported 15.7, Adjusted 16.9

TD's 2018 ROE

15.7% Reported
16.9% Adjusted

Performance indicators focus effort, communicate our priorities, and benchmark TD's performance as we strive to be the even Better Bank.

2018 performance indicators	Results³
Deliver above-peer-average total shareholder return Grow earnings per share (EPS) by 7 to 10% Deliver above-peer-average return on risk-weighted assets Grow revenue⁴ faster than expenses	3.1% vs. Canadian peer average of -1.2% 16.8% EPS growth 2.75% vs. Canadian peer average of 2.36% Total revenue growth of 8% vs. total expense growth of 4%

Assets $1.3 trillion

Up 4.4% YoY

Deposits $0.9 trillion

Up 2.2% YoY

CET1 Ratio 12%

Up 130 bps YoY

¹ Reported basis excluding Corporate segment
² 5-year CAGR is the compound annual growth rate calculated from 2013 to 2018. Source: Bloomberg. Canadian peers include Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and Scotiabank.
³ Performance indicators that include an earnings component are based on TD's full-year adjusted results (except as noted) as explained in footnote 3 on page 14. For peers, earnings have been adjusted on a comparable basis to exclude identified non-underlying items.
⁴ Revenue is net of insurance claims and related expenses.

Refer to footnotes on page 14 of the complete annual report (available here) for information on how the results on this page are calculated.