The Bank completed the repurchase of C$7 billion of its common shares on September 25, 2026 (47.2 million common shares) under its existing Toronto Stock Exchange (TSX) normal course issuer bid (Existing NCIB), which commenced on January 20, 2026 and may remain in effect until its scheduled expiry on January 15, 2027.

The Bank will commence the New Buyback under its Existing NCIB. Thereafter, the Bank intends to launch a new TSX NCIB to continue repurchasing its common shares under the New Buyback, subject to TSX approval. The Bank may also repurchase its common shares on the New York Stock Exchange or other designated exchanges and published markets in Canada and the U.S. The New Buyback will represent up to 3.74% of the Bank's 1,633,130,726 common shares issued and outstanding as at August 31, 2026.

All purchases will be made in accordance with applicable securities laws and regulatory requirements. The price paid for purchased common shares will be the market price of such shares at the time of acquisition or such other price as may be permitted by the TSX, as applicable. All purchased common shares will be cancelled.

As at July 31, 2026, the Bank's Common Equity Tier 1, Tier 1, Total Capital and Leverage ratios were 14.26%, 16.12%, 17.90% and 4.55%, respectively.