On February 20, 2024, The Toronto-Dominion Bank announced that it has received a shareholder proposals from Shareholders' Education and Defense Movement, requesting the Company to 1) consider introducing a new approach to incentive compensation, with the objective of linking a portion of compensation of all employees to the performance of the organization against its key ESG objectives, 2) disclose annually, to the general public, the non-confidential information relating to its Country-by-Country Reporting for the purposes of detailed and meaningful calculation of compensation ratios, including broken down by jurisdiction, and for the purposes of contributing to the effort to combat tax havens, including in terms of transparency, 3) hold an annual advisory vote on its environmental and climate objectives and action plan. In addition, the Company recommended the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on April 18, 2024.