TD Lender Group to obtain digital fixed earnings buying and selling small business

Acquisition expands TD Securities’ automatic investing infrastructure and abilities

TORONTO, March 23, 2021 /PRNewswire/ – The Toronto-Dominion Financial institution (“TD”) (TSX: TD) (NYSE: TD) and Headlands Tech Holdings, LLC (“Headlands Tech”) today declared a definitive arrangement, issue to sure closing situations, for TD to acquire Headlands Tech World-wide Marketplaces, LLC, a Chicago-dependent quantitative set money buying and selling business.

“This acquisition further more strengthens our digital bond investing infrastructure and underscores our commitment to providing details-driven innovation and escalating our worldwide system,” stated Bob Dorrance, Chairman, Chief Govt Officer and President, TD Securities. “Headlands Tech Global Markets’ platform and men and women will extend our U.S. capabilities in the municipal and company bond markets. We look ahead to welcoming the crew and doing the job together to produce an increased trading experience for our clientele.”

Established in 2013, with offices in Chicago and San Francisco, Headlands Tech Worldwide Marketplaces has developed proprietary software package to deliver absolutely automated electronic industry-building in municipal and investment quality company bonds. The firm’s 15 employees, including Co-CEOs Martin Mannion and Matthew Schrager, will join TD Securities at closing.

“We created our small business to present customers with a exceptional, completely automatic execution working experience in mounted cash flow goods,” said Co-CEO, Martin Mannion, Headlands Tech Worldwide Markets. “Our team is a sturdy cultural in good shape with TD Securities, and we are self-assured that our demonstrated expertise in electronic investing will enhance the firm’s current small business, progress ambitions and dedication to fantastic consumer company.”&#13

TD’s obtain of Headlands Tech World wide Marketplaces is predicted to near mid-2021 subject to receipt of regulatory approvals, and satisfaction of other customary closing ailments. Upon closing, TD expects the transaction to have a negligible effect on funds.

TD Securities served as money advisor in relationship with this transaction. Evercore served as economic advisor to Headlands Tech.

Warning Pertaining to Ahead-Searching Info

From time to time, The Toronto-Dominion Bank (the “Financial institution” or “TD”) will make published and/or oral ahead-on the lookout statements, which include in this doc, in other filings with Canadian regulators or the United States (U.S.) Securities and Trade Fee (SEC), and in other communications. In addition, representatives of the Lender may well make ahead-looking statements orally to analysts, traders, the media and some others. All this kind of statements are produced pursuant to the “harmless harbour” provisions of, and are meant to be ahead-wanting statements less than, applicable Canadian and U.S. securities laws, like the U.S. Non-public Securities Litigation Reform Act of 1995. Forward-on the lookout statements incorporate, but are not constrained to, statements built in this doc, statements created in the Bank’s Management’s Discussion and Examination for the quarter finished January 31, 2021 (“Q1 2021 MD&A”) under the headings “How we Executed, which include below the sub-headings “Financial Summary and Outlook” and “The Bank’s Response to COVID-19” and below the heading “Taking care of Risk”, statements made in the Bank’s Management’s Discussion and Examination (“2020 MD&A”) in the Bank’s 2020 Annual Report less than the headings “Financial Summary and Outlook” and “The Bank’s Response to COVID-19”, for the Canadian Retail, U.S. Retail, and Wholesale Banking segments under headings “Important Priorities for 2021”, and for the Company segment, “Aim for 2021”, and in other statements pertaining to the Bank’s targets and priorities for 2021 and over and above and procedures to attain them, the regulatory surroundings in which the Bank operates, the Bank’s expected economical efficiency, and the likely financial, monetary and other impacts of the Coronavirus Sickness 2019 (COVID-19). Forward-wanting statements are typically discovered by phrases these types of as “will”, “would”, “need to”, “feel”, “assume”, “anticipate”, “intend”, “estimate”, “plan”, “purpose”, “focus on”, “might”, and “could”.

By their really character, these ahead-looking statements have to have the Bank to make assumptions and are subject to inherent risks and uncertainties, basic and certain. Specifically in light of the uncertainty related to the physical, monetary, economic, political, and regulatory environments, such risks and uncertainties – many of which are further than the Bank’s control and the consequences of which can be difficult to predict – may perhaps result in precise results to vary materially from the anticipations expressed in the forward-searching statements. Danger components that could result in, individually or in the aggregate, these kinds of discrepancies involve: strategic, credit rating, current market (including fairness, commodity, overseas exchange, desire amount, and credit score spreads), operational (which include technological innovation, cyber stability, and infrastructure), design, insurance policy, liquidity, capital adequacy, legal, regulatory compliance and carry out, reputational, environmental and social, and other pitfalls. Illustrations of such possibility things include the financial, economical, and other impacts of the COVID-19 pandemic normal business and financial situations in the locations in which the Bank operates geopolitical risk the capability of the Financial institution to execute on extended-term procedures and shorter-term critical strategic priorities, like the effective completion of acquisitions and tendencies, organization retention ideas, and strategic programs technological innovation and cyber safety hazard (like cyber-attacks or knowledge protection breaches) on the Bank’s information and facts technological innovation, net, network accessibility or other voice or knowledge communications systems or expert services product hazard fraud to which the Lender is uncovered the failure of 3rd events to comply with their obligations to the Lender or its affiliate marketers, such as relating to the care and manage of facts, and other risks arising from the Bank’s use of 3rd-social gathering support vendors the impact of new and alterations to, or application of, latest laws and laws, such as without limitation tax guidelines, money tips and liquidity regulatory advice and the bank recapitalization “bail-in” routine regulatory oversight and compliance possibility amplified competitiveness from incumbents and new entrants (which include Fintechs and huge engineering competition) shifts in shopper attitudes and disruptive engineering environmental and social danger exposure connected to considerable litigation and regulatory issues capability of the Bank to draw in, produce, and keep critical expertise adjustments to the Bank’s credit ratings modifications in currency and curiosity fees (which includes the likelihood of adverse interest fees) elevated funding expenditures and market place volatility because of to marketplace illiquidity and competitors for funding Interbank Made available Rate (IBOR) transition possibility crucial accounting estimates and changes to accounting standards, guidelines, and strategies applied by the Bank existing and potential intercontinental financial debt crises environmental and social chance and the occurrence of all-natural and unnatural catastrophic events and claims resulting from these types of occasions.&#13

The Bank’s acquisition of Headlands Tech Global Marketplaces, LLC is matter to specified closing ailments.  There is no assurance that the acquisition will be concluded as explained in this document or at all.  There can be no assurance that the Bank will know the anticipated gains or benefits, and real outcomes could vary materially from the expectations expressed in the ahead-seeking statements.  Examples of materials assumptions produced by the Financial institution in the ahead-looking statements include things like assumptions regarding predicted strategic and other positive aspects, dependent on the Bank’s expertise.

The Financial institution cautions that the preceding record is not exhaustive of all attainable possibility variables and other components could also adversely have an affect on the Bank’s results. For far more in-depth information and facts, please refer to the “Danger Components and Management” section of the 2020 MD&A, as may perhaps be up-to-date in subsequently submitted quarterly stories to shareholders and information releases (as applicable) relevant to any gatherings or transactions talked about less than the headings “Important Occasions” in the suitable MD&A, which applicable releases may be located on www.td.com. All such elements should be regarded as thoroughly, as well as other uncertainties and probable occasions, and the inherent uncertainty of ahead-looking statements, when producing conclusions with regard to the Bank and the Bank cautions viewers not to location undue reliance on the Bank’s forward-on the lookout statements.

Content financial assumptions fundamental the forward-wanting statements contained in this document are established out in the 2020 MD&A less than the headings “Financial Summary and Outlook” and “The Bank’s Reaction to COVID-19”, for the Canadian Retail, U.S. Retail, and Wholesale Banking segments, “Important Priorities for 2021”, and for the Corporate section, “Aim for 2021”, each as may well be updated in subsequently submitted quarterly reports to shareholders.

Any ahead-hunting statements contained in this doc stand for the views of administration only as of the day hereof and are introduced for the intent of aiding the Bank’s shareholders and analysts in comprehending the Bank’s monetary situation, targets and priorities and anticipated economic efficiency as at and for the intervals ended on the dates introduced, and might not be ideal for other needs. The Lender does not undertake to update any forward-seeking statements, regardless of whether composed or oral, that may possibly be made from time to time by or on its behalf, except as necessary below applicable securities legislation.

About TD Lender Team&#13

The Toronto-Dominion Bank and its subsidiaries are collectively recognised as TD Bank Team (“TD” or the “Bank”). TD is the fifth premier financial institution in North America by property and serves over 26 million prospects in three critical companies functioning in a quantity of areas in fiscal centres all over the world: Canadian Retail, like TD Canada Believe in, TD Car Finance Canada, TD Prosperity (Canada), TD Immediate Investing, and TD Insurance plan U.S. Retail, such as TD Bank, America’s Most Easy Bank®, TD Vehicle Finance U.S., TD Wealth (U.S.), and an expense in The Charles Schwab Corporation and Wholesale Banking, such as TD Securities. TD also ranks among the world’s top online economical services corporations, with more than 14 million energetic online and cellular shoppers. TD had CDN$1.7 trillion in belongings on January 31, 2021. The Toronto-Dominion Bank trades underneath the symbol “TD” on the Toronto and New York Stock Exchanges.

About Headlands Tech World Markets

Headlands Tech World-wide Marketplaces (HTGM) is a FINRA-registered broker-supplier that gives proprietary liquidity to fastened earnings markets. Leveraging a distinctive absolutely automatic strategy, HTGM is capable to present correct and well timed pricing across hundreds of 1000’s of devices in the set earnings universe. Established in 2013, HTGM has grown to become 1 of the major participants in the U.S. municipal bond market place, executing countless numbers of trades for each working day with hundreds of counterparties throughout the financial landscape. With a escalating existence in other asset courses such as investment decision-grade company bonds, HTGM is dedicated to leveraging its technologies to boost liquidity and transparency throughout the mounted cash flow markets.

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Resource TD Financial institution Group