2004 Documents Incorporated by Reference

ANNUAL INFORMATION FORM The Toronto-Dominion Bank Toronto-Dominion Centre Toronto, Ontario, Canada M5K 1A2 December 9, 2004 Documents Incorporated by Reference Portions of the Annual Information Form (“AIF”) are disclosed in the Annual Report to Shareholders for the year ended October 31, 2004 (“Annual Report”) and are incorporated by reference into the AIF. Page Reference Annual Incorporated by Information Reference from the Form Annual Report CORPORATE STRUCTURE Name, Address and Incorporation ............................................... 1 Intercorporate Relationships ......................................................... 101-102 GENERAL DEVELOPMENT OF THE BUSINESS Three Year History.......................................................................... 1 23-35 DESCRIPTION OF THE BUSINESS Review of Business ........................................................................ 13-35 Competition...................................................................................... 2 Economic Dependence.................................................................. 47 Average Number of Employees.................................................... 2 Lending............................................................................................. 39-41, 43-45 Reorganizations .............................................................................. 2 Risk Factors ..................................................................................... 2 38-47 DIVIDENDS Dividends per Share....................................................................... 3 Dividend Policy and Restrictions .................................................. 49, 77-78 CAPITAL STRUCTURE Common Shares ............................................................................ 3 77-78 Preferred Shares ............................................................................. 3 77-78 Constraints ....................................................................................... 4 Ratings .............................................................................................. 4 MARKET FOR SECURITIES OF THE BANK Market Listings ................................................................................ 5 Trading Price and Volume............................................................. 5 Prior Sales ........................................................................................ 7 DIRECTORS AND OFFICERS Directors and Board Committees of the Bank............................ 7 7-10 Audit Committee.............................................................................. 9 9-10 Executive Officers of the Bank...................................................... 10 110-111 Shareholdings of Directors and Executive Officers ................... 10 Additional Disclosure for Directors and Executive Officers ...... 10 LEGAL PROCEEDINGS .................................................................... 11 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS ....................................................... 11 TRANSFER AGENTS AND REGISTRARS Transfer Agent................................................................................. 11 Co-transfer Agent and Registrar................................................... 11 Shareholder Service Agent in Japan ........................................... 12 MATERIAL CONTRACTS.................................................................. 12 (i) INTERESTS OF EXPERTS Names of Experts............................................................................ 12 Interests of Experts ......................................................................... 12 ADDITIONAL INFORMATION........................................................... 13 Unless otherwise specified, this AIF presents information as at October 31, 2004. Caution regarding Forwarding-Looking Statements From time to time, The Toronto-Dominion Bank (the “Bank”) makes written and oral forward- looking statements, including in this Annual Information Form, in other filings with Canadian regulators or the U.S. Securities and Exchange Commission (SEC), and in other communications. All such statements are made pursuant to the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, statements regarding the Bank’s objectives and targets and strategies to achieve them, the outlook for the Bank’s business lines, and the Bank’s anticipated financial performance. Forward-looking statements are typically identified by words such as “believe”, “expect”, “may” and “could”. By their very nature, these statements are subject to inherent risks and uncertainties, general and specific, which may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Some of the factors that could cause such differences include: the credit, market, liquidity, interest rate, operational and other risks discussed in the management discussion and analysis section in other regulatory filings made in Canada and with the SEC, including the Bank’s 2004 Annual Report; general business and economic conditions in Canada, the United States and other countries in which the Bank conducts business, as well as the effect of changes in monetary policy in those jurisdictions and changes in the foreign exchange rates for the currencies of those jurisdictions; the degree of competition in the markets in which the Bank operates, both from established competitors and new entrants; legislative and regulatory developments; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services in receptive markets; the Bank’s ability to complete and integrate acquisitions, including the acquisition of a 51% interest in Banknorth Group, Inc. (“Banknorth”); the Bank’s ability to attract and retain key executives; reliance on third parties to provide components of the Bank’s business infrastructure; technological changes; change in tax laws; unexpected judicial or regulatory proceedings; continued negative impact of the United States litigation environment; unexpected changes in consumer spending and saving habits; the possible impact on the Bank’s businesses of international conflicts and terrorism; acts of God, such as earthquakes; and management’s ability to anticipate and manage the risks associated with these factors and execute the Bank’s strategies. The preceding list is not exhaustive of all possible factors. Other factors could also adversely affect the Bank’s results. All such factors should be considered carefully when making decisions with respect to the Bank, and undue reliance should not be placed on the Bank’s forward- looking statements. The Bank does not undertake to update any forward-looking statements, written or oral, that may be made from time to time by or on its behalf. (ii) CORPORATE STRUCTURE Name, Address and Incorporation The Toronto-Dominion Bank (the “Bank”) and its subsidiaries are collectively known as “TD Bank Financial Group”. The Bank, a Schedule 1 chartered bank subject to the provisions of the Bank Act of Canada (the “Bank Act”), was formed on February 1, 1955 through the amalgamation of The Bank of Toronto (chartered in 1855) and The Dominion Bank (chartered in 1869). The Bank’s head office is located at Toronto-Dominion Centre, King Street West and Bay Street, Toronto, Ontario, M5K 1A2. GENERAL DEVELOPMENT OF THE BUSINESS Three Year History As at October 31, 2004, the Bank was the third largest Canadian bank in terms of market capitalization. From 2001 to 2004, the Bank’s assets have grown on average 2.9% annually to a total of $311.0 billion at the end of fiscal 2004. In Canada and around the world, TD Bank Financial Group serves more than 13 million customers in three key businesses: personal and commercial banking including TD Canada Trust; wealth management including the global operations of TD Waterhouse; and wholesale banking, including TD Securities, operating in a number of locations in key financial centres around the globe. TD Bank Financial Group also ranks among the world’s leading on-line financial services firms, with more than 4.5 million on-line customers. For additional information on the Bank’s businesses, see pages 23-35 of the Annual Report. On November 4, 2002, the Bank announced that it would split its corporate lending business into “core” business, which the Bank intended to continue, and “non-core” business, which the Bank intended to run off in a manner that maximized shareholder value. At the end of 2004, this run off has been largely completed. In the first half of fiscal 2003, the Bank restructured the international wealth management business of TD Waterhouse. Restructuring plans included: streamlining of TD Waterhouse International’s United Kingdom operations; steps taken regarding strategic initiatives such as joint ventures in India, Singapore, Hong Kong and Luxembourg; and the sale of TD Waterhouse discount brokerage operations in Australia. The Bank also announced the restructuring of its U.S. equity options business. The Bank exited the options trading business in Philadelphia and San Francisco but continues to have a strong presence on the Chicago and American stock exchanges. On October 31, 2003, the Bank acquired 57 Laurentian Bank branches in Ontario and Western Canada and their related regional and administrative support areas. The

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