TD Asset Management Inc. Announces Notional TD ETF Distributions

TORONTO, June 5, 2025 /CNW/ - TD Asset Management Inc. ("TDAM") today announced notional non-cash reinvested distributions (each, a "Notional Distribution") for TD Target 2029 Investment Grade Bond ETF and TD Target 2030 Investment Grade Bond ETF (each a "TD ETF"). A Notional Distribution occurs when a distribution from a TD ETF is made in the form of units, and then immediately consolidated with the units held prior to the distribution, so that the total number of units held after the distribution is identical to the number of units held prior to the distribution.  

The Notional Distributions have been made to all TD ETF unitholders of record as indicated in the table below:

Fund Name	Ticker Symbol	Record Date	Non-Cash Distribution Per Unit
TD Target 2029 Investment Grade Bond ETF	TBCI	January 31, 2025	$0.255248
TD Target 2030 Investment Grade Bond ETF	TBCJ	February 28, 2025	$0.486919

Up until each respective record date above, each TD ETF did not qualify as a mutual fund trust under the Income Tax Act (Canada) (the "Tax Act"). Each TD ETF was considered a unit trust, as defined under the Tax Act. For purposes of the "mark-to-market" rules contained in the Tax Act, because more than 50% of the market value of each TD ETF was held by one or more financial institutions, each TD ETF was considered a financial institution for the purposes of the Tax Act.

The Tax Act contains special rules for determining the income of financial institutions, including, but not limited to, the realization of all unrealized gains or losses on mark-to-market property held by the financial institution on income account at the end of any given tax year. In acknowledging this change of status, each TD ETF was required to recognize a deemed year-end for tax purposes and distribute any net income and net realized capital gains earned or realized up until the deemed year end (reflected by the record dates indicated above).

In early 2026, the tax characteristics of all distributions for 2025 for TD ETFs will be reported to brokers via the Canadian Depository for Securities (CDS).

For more information regarding TD ETFs, visit TDAssetManagement.com

About TD Asset Management Inc.

TD Asset Management (TDAM), a member of TD Bank Group, is a North American investment management firm. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of almost 2 million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally managed portfolios and corporate class funds. Asset management businesses at TD manage $496 billion in assets. Aggregate statistics are as of March 31, 2025 for TDAM and Epoch Investment Partners, Inc. TDAM operates in Canada and Epoch Investment Partners, Inc. operates in the United States. Both entities are affiliates and are wholly-owned subsidiaries of The Toronto-Dominion Bank.

Commissions, management fees and expenses all may be associated with investments in exchange- traded funds (ETFs). Please read the prospectus and ETF Facts before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns.

TD ETFs are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank.

^® The TD logo and other TD trademarks are the property of The Toronto-Dominion Bank or its subsidiaries.

SOURCE TD Asset Management Inc.

For further information: Alicia Skrinjar, TD Bank Group, [email protected]