TERMS OF ACCESS

PLEASE READ CAREFULLY THE FOLLOWING TERMS AND CONDITIONS. BY ACCESSING THIS WEBSITE AND THE INFORMATION CONTAINED HEREIN, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS BELOW. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, YOU MAY NOT ACCESS THIS WEBSITE OR ANY OF THE INFORMATION CONTAINED HEREIN.

Content and Purpose

This Website has been created to provide access to the material documents of the Legislative Programme and to present certain selected historical performance information relating to a portfolio consisting of residential mortgage loans originated by TD.

No CMHC Approval

THE COVERED BONDS OFFERED UNDER THE LEGISLATIVE PROGRAMME HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE CANADA MORTGAGE AND HOUSING CORPORATION ("CMHC") NOR HAS CMHC PASSED UPON THE ACCURACY OR ADEQUACY OF ANY OF THE DISCLOSURE CONTAINED IN THE DOCUMENTS POSTED ON THIS WEBSITE. THE COVERED BONDS OFFERED UNDER THE LEGISLATIVE PROGRAMME ARE NOT INSURED OR GUARANTEED BY CMHC OR THE GOVERNMENT OF CANADA OR ANY OTHER AGENCY THEREOF.

Residents of the United Kingdom

If you are a resident of the United Kingdom, before reviewing the material relating to the Legislative Programme, you must acknowledge that (a) you are a person whose ordinary activities involve you acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of your business; (b) you will not offer or sell any securities under the Legislative Programme other than to persons: (i) whose ordinary activities involve them in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of their businesses or (ii) who it is reasonable to expect will acquire, hold, manage or dispose of investments (as principal or agent) for the purposes of their business; and (c) you have complied and will comply with all applicable provisions of the Financial Services and Markets Act 2000 of the United Kingdom with respect to anything done by you in relation to any securities under the Legislative Programme in, from or otherwise involving the United Kingdom.

The securities offered under the Legislative Programme are available only to persons having professional experience in matters relating to investments.

Persons who do not have professional experience in matters relating to investments should not access this Website.

Use of Information

The information and data contained herein is intended solely for your benefit and for your internal informational use only and may not be reproduced, disseminated or distributed in whole or in part at any time, in any manner or for any purpose, without obtaining the prior written consent of TD in each specific instance.

No Offer or Solicitation

Neither this Website nor anything contained herein shall constitute an invitation or recommendation to invest or otherwise deal in, or an offer to sell or the solicitation of an offer to buy or subscribe for, any security. There shall be no sale of any securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to qualification under the securities laws of such state or jurisdiction. Any products or services mentioned herein shall only be available subject to local legal and regulatory requirements.

Investment Considerations

You should read the entire prospectus related to an offering of securities before you purchase any such securities.

Prospective investors should consult their own financial and legal advisors about risks associated with investment in a particular issue of securities and the suitability of investing in such securities in light of their particular circumstances.

Information contained on this Website is posted and archived solely in response to certain disclosure regulations that apply to prospectuses and prospectus supplements prepared from time to time in connection with specific offerings of securities under the Legislative Programme.

The prospectus relating to each offering of covered bonds is accurate as of the date stated on its cover but may not be accurate as of any subsequent date. Likewise, the information contained in any investor report on this Website speaks only as of the date of such investor report. TD has undertaken no obligation, and has assumed no responsibility, to update the information contained on this Website for facts or events arising after completion of the related prospectus delivery period for such prospectus, except as required under applicable securities legislation or the Canadian Registered Covered Bond Programs Guide.

Legal Considerations

The distribution of material on this Website may be restricted by local law in certain jurisdictions and failure to comply with such restrictions may constitute a violation of the laws of any such jurisdiction. Persons accessing this Website should inform themselves about, and observe, any such restrictions. In particular, no information contained in this Website is for distribution directly or indirectly in Australia or Japan.

No Liability

The material on this Website has no regard to the specific investment objectives, financial situation or particular needs of any recipient. The information is historical in nature and should not be relied on when making any investment decision. TD is under no obligation to update or keep current the information on this Website and no representation or warranty, express or implied, is or will be made in relation to, the accuracy or completeness of the information. No liability whatsoever is or will be accepted by TD for any loss or damage howsoever arising from any use of this Website or its contents. Click as appropriate below to enter or exit this Website:

I ACKNOWLEDGE AND CONFIRM THAT I HAVE READ, UNDERSTAND AND ACCEPT THE ABOVE TERMS AND CONDITIONS.