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BBANKANK F FINANCIALINANCIAL G GROUPROUP

T O P I C S

Three growth strategies

Financial highlights

Shareholder value

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SHAREHOLDER VALUE

FASTER EPS GROWTH

$2.51

$2.95

$3.54 $3.62

1995 1996 1997 1998

TD up 2%

5 bank peergroup down 5%

TD up 2%

5 bank peergroup down 5%

CAGR=13%CAGR=13%

3

20%

3%

5 Bank peer

Total shareholder returnsJan. 31, 98 to Jan. 31, 99

SUPERIOR RETURNS

Grow wealthmanagement

Reposition retailbanking network

Focus corporateand investment

bankingbusinesses

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3

THREE GROWTH STRATEGIES

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Grow wealthmanagement

Reposition retailbanking network

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3

THREE GROWTH STRATEGIES

Focus corporateand investment

bankingbusinesses

• Expand global discount brokerage franchise

GROW WEALTH MANAGEMENT

StrategyStrategy

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CORPORATE STRUCTURE

TD BankTD Bank

WaterhouseInvestor ServicesWaterhouse

Investor ServicesGreen Line

CanadaGreen Line

CanadaGreen LineAustralia

Green LineAustralia

Green LineUnited KingdomGreen Line

United Kingdom

TD WaterhouseSecurities

TD WaterhouseSecurities

Green LineHong KongGreen LineHong Kong

90%

100%

PublicOwnership10%

Grow wealthmanagement

Reposition retailbanking network

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3

THREE GROWTH STRATEGIES

Focus corporateand investment

bankingbusinesses

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REPOSITION RETAIL BANKING

• Focus on high-value customers

• Build sales-oriented culture

• Act as agent for our customers

• Develop innovative points of contact

• Expand lower cost electronic channels

StrategyStrategy

INNOVATIVE POINTS OF CONTACT

Growing from 29 to 50 in 1999Growing from 29 to 50 in 1999

In-store bankingIn-store banking

WalWal-Mart, -Mart, SobeysSobeys, Maxi & Co., Maxi & Co.

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EXPANDINGELECTRONIC CHANNELS

Q1 95 Q4 98

77 MillionTransactions

ElectronicElectronic

CounterCounter

50%

50%

116 MillionTransactions

73%

27%

19961996 19971997 19981998ROEROE

Retail banking 16% 23% 20%

Wealth management * 42% 47% 34%

Total retail segment * 18% 26% 24%

HIGH GROWTH - HIGH ROE

* Cash basis

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Grow wealthmanagement

Reposition retailbanking network

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3

THREE GROWTH STRATEGIES

Focus corporateand investment

banking

TD Securities – bestsecurities firm in Canada

NICHE LEADERSHIP

#1 in quality ofresearch analysts

“Loan House of the Year”U.S. media andtelecommunications

A few recent accomplishmentsA few recent accomplishments

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19961996 19971997 19981998ROEROE

Corporate banking 14% 13% 14%

Investment banking 15% 36% 22%

Total wholesale segment 14% 17% 16%

FOCUSING TO IMPROVE RESULTS

FINANCIAL HIGHLIGHTS

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STRONG REVENUE GROWTH

1995 1996 1997 1998

154

138

5 bank peer100

Total Revenue

Adjusted for one-time items

BUILDING NEWREVENUE STREAMS

1995 1996 1997 1998 Q1/99

Ahead of our peersAhead of our peers

Other IncomeOther Income

InterestInterest

Contribution to total revenue

63%

37%

47%

53%

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4

16 1620 22

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NA BNS CM BMO RYAs at March 26, 1999

$ Billions

MARKET CAPITALIZATION

Second largest

THE FUTURE

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FOCUSING – FOR HIGHER RETURNS

48%Retail

52%Wholesale

60%Retail

40%Wholesale

1998 The future

% Capital deployed

HIGHLIGHTS

Well positioned in wealthmanagement, discount brokeragebusiness

Successful repositioning of retailnetwork

Leveraging strengths inwholesale banking

THE GROWTH LEADER

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BBANKANK F FINANCIALINANCIAL G GROUPROUP