Company: TDBCP
Filing Date: 2025-12-04
Form Type: 40-F
Source: 0001562762-25-000289
Chunk: 4

Company: TORONTO DOMINION BANK
Filing Date: 2025-12-04
Form: 40-F
Chunk 4
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 and Ethics for Employees and Directors

(the “Code”) as its code of ethics applicable

to all its employees and directors, including the Registrant’s

Group President and Chief Executive Officer,

Group Head and Chief

Financial Officer, and Senior

Vice President, Finance, Controller

and Chief Accountant.

The Registrant posts the Code on its website

at

www.td.com

and also undertakes to provide a copy of the Code to any person without charge

upon request.

Such request may be

made by mail, telephone or e-mail to:

The Toronto-Dominion

Bank

TD Shareholder Relations

P.O.

Box 1, Toronto-Dominion

Centre

Toronto, Ontario,

Canada

M5K 1A2

Telephone:

1-866-756-8936

E-mail:

tdshinfo@td.com

On March 4, 2025, an amended version of the Code was filed with the SEC on Form 6-K

and made available on the Registrant’s

website.

The key amendments made to the Code at that time included: (a) Applying

the Code, Step 4, Evaluate the options and make a

decision: Added the concept of considering the expectations of the general

public when assessing a difficult decision; (b) 2.

Demonstrating Personal Integrity,

A. Criminal Charges and Regulatory Investigations: The obligation

for employees to provide notice

to TD of any criminal charges has been expanded to include notice

of any adverse regulatory findings or disciplinary action; (c)

Applying the Code, 2. Demonstrating Personal Integrity,

B. Gifts and Entertainment and F.

Irregular Business Conduct, Bribery and

Corruption: Various

amendments were made to clarify and emphasize the prohibition against accepting, offering

or giving any form of

money or cash equivalents including stored value cards, gift cards, gift

certificates, gift vouchers or coupons with a cash face value;

(d) 2. Demonstrating Personal Integrity,

F Irregular Business Conduct, Anti-Competitive Behaviour: Amended

to include a prohibition

against "recommending" the purchase or sale of a security based on material, non

-public information about the relevant entity; and (e)

6. Work

Environment, A. Appearance and Courtesy: Amendments were made prohibiting employees

from wearing clothing or

accessories with partisan political slogans, statements or images that contribute

to the perception that those views represent TD, which

brings the