Company: TDBCP
Filing Date: 2025-06-23
Form Type: 11-K
Source: 0001104659-25-061742
Chunk: 3

Company: TORONTO DOMINION BANK
Filing Date: 2025-06-23
Form: 11-K
Chunk 3
---
,573 |
| Net increase in net assets available for benefits |     |                         | 1,028,990,067 |     |   |   859,359,299 |
| Net assets available for benefits:                |     |                         |               |     |   |               |
| Beginning of year                                 |     |                         | 4,942,173,822 |     |   | 4,082,814,523 |
| End of year                                       |     | $                       | 5,971,163,889 |     | $ | 4,942,173,822 |

See accompanying notes.

4

<div align='center'>TD 401(k) Retirement Plan

Notes to Financial Statements

December 31, 2024 and 2023</div>

1. Description of the Plan

The TD 401(k) Retirement Plan (the "Plan")
is a defined contribution plan sponsored by TD Bank US Holding Company (the “Company”), an indirect wholly-owned subsidiary
of The Toronto-Dominion Bank. The following provides only general information about the Plan. Participants should refer to the Plan document
for a more complete description of the Plan’s provisions. Capitalized terms used herein but not defined shall have the meaning attributed
to them in the Plan document.

General

The Plan is a defined contribution plan subject
to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The Plan was amended effective January 1,
2022 to update references to the Plan Administrator and Investment Fiduciary as the U.S. Retirement Committee and U.S. Retirement Investment
Committee, respectively, and further amended effective January 1, 2024 to reflect the effect of the acquisition of Cowen Inc ("Cowen").
The acquisition of Cowen Inc. by the Toronto-Dominion Bank was completed March 1, 2023. The Cowen 401(k) Plan merged into the
TD 401(k) Retirement Plan on January 1, 2024. The total assets transitioned was $316 million and Cowen employees were eligible
to participate in the Plan upon merger date.

Plan Administration

The Plan is administered by the U.S. Retirement
Committee (the “Plan Administrator”) as delegated by the Human Resources Committee of The Toronto Dominion Bank Board of Directors.
The Plan Administrator has assigned the record-keeping, trustee and custodial responsibilities of the Plan to T. Rowe Price (the "Trustee").

Contributions

Participants may contribute to