TD Bank (TD) TD Cowen’s 8th Annual Future of the Consumer Conference summary

Conference overview

• First U.S.-Canadian collaborative conference for the financial services sector, featuring a strong lineup of presenters from both countries.

• Collaboration between U.S. and Canadian research teams has enhanced access to insights and research capabilities.

Business growth and strategy

• Revenue has grown from $2.7 billion in 2014 to $5.8 billion last year, with $3.7 billion in the first half of the current fiscal year.

• Acquisition of TD Cowen added U.S. equities and research capabilities, strengthening the platform and product offerings.

• Expanded financial institutions team and focus on innovation and thematic research have deepened client engagement.

Market environment and outlook

• Rate cuts in Canada are providing relief to borrowers and improving the investment climate, encouraging more client activity.

• Increased deal activity in debt and equity capital markets, M&A, and leveraged finance as confidence in a soft landing grows.

• Cross-border dynamics and upcoming U.S. elections are expected to create a dynamic environment for clients.