Pooled Fund units are not deposits as defined by the Canada Deposit Insurance Corporation or the Regie de l'assurance-dépôts de Quebec and are not guaranteed by the Bank.

The information in this communication is subject to change without notice. This communication does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should consult with their financial adviser to determine if these securities may lawfully be sold in their jurisdiction.

UK Disclosure
In so far as the information in this report is issued in the UK, it has been approved by The Toronto-Dominion Bank which is regulated by the Securities and Futures Authority in the conduct of investment business in the UK. You should note that prices, values and incomes of securities mentioned in this report may fall against your interests, and you may get less back as an investor than that which you put in. The investments mentioned in the report may not be suitable for all recipients of it. If you have any doubts, you should seek advice from your investment advisor. You should note that income from investments may fluctuate. If an investment is denominated in a currency other than pounds sterling, changes in the rate of exchange may have an adverse effect on the value price or income of the investment. Past performance of an investment is not necessarily a guide to its future performance, Some investments may not be readily realisable, and it may therefore be difficult for you to sell or realise such investments, or to obtain reliable information about their value or the risks to which you are exposed in respect of them. Where reference is made to the effect of tax, you should note that levels and bases of taxation may change. Business carried on by TD Securities (U.S.A.) Inc. and TD Securities Inc. is not regulated in the UK. The regulatory regime and compensation arrangements in respect of them may be different than that of the UK.

Performance Number Disclosure
The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption or optional charges payable by any security holder which would have reduced returns. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption or optional charges payable by any security holder which would have reduced returns.