TD Direct Investing Commission Schedule and Statement of Disclosure of Rates and Fees

TD Direct Investing

Commission Schedule

and Statement of

Disclosure of Rates

and Fees

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ontents

Commission Schedule

Electronic Brokerage Services Commission Rates

Telephone Brokerage Services Commission Rates 1

Canadian Equities 1

U.S. Equities 1

Canadian and U.S. Options 2

Option Spreads and Combinations 2

Option Assignments and Exercises 2

Gold and Silver 2

Fixed Income Investments 3

Mutual Funds 3

Fee Schedule

Banking Fees 4

Interest Rates 4

Trading Fees 5

Maintenance Fees 5

Transfer Fees 6

Other Registered Account Fees 6

Estate Accounts 6

Account Statements and Trade Conirmations 6

Other Fees 7

Statement of Disclosure of Rates and Fees

for TD Direct Investing 810

ommission Schedule

Electronic Brokerage Services

ommission Rates

Tra

des Equities Options

50+ Trades per Quarter

$7.00

$1.25 / contract

Less than 150 Trades per

Quarter

$9.99

+$1.25 / contract

$1.99 for trades less than 1 share

lephone Brokerage Services

ommission Rates

Applicable for trades placed

over the telephone with an

Investment Representative.

Canadian Equi

ties

Stock Pri

Commission

$0 – $.24

2.5%

25 – $1

$35 + $.005/sh

$1.01 – $2

$35 + $.02/sh

$2.01 – $5

$35 + $.03/sh

$5.01

– $10

$35 + $.04/sh

0.01 – $20

$35 + $.05/sh

$20.01 and over

$35 + $.06/sh

U.S. Equities (In U.S. Dol

lars)

Stock Pri

Commission

$0 – $.24

$.25 – $1

$39 + $.02/sh

$1.01 – $2

$39 + $.03/sh

$2.01 – $5

$39 + $.04/sh

$5.01

– $10

$39 + $.05/sh

0.01 – $20

$39 + $.06/sh

$20.01 – $30

$39 + $.07/sh

$30.01 and over

$39 + $.08/sh

A fee of $43 (CDN

or USD) will be charged on Canadian and

U.S. Equity transactions with principal values less than $2,000.

A minimum commission of $43 is charged for each trade.

Ful

l commission and fee charges apply for each partial ill

except when transact

ed within the same business day.

Canadian and U.S. Options

Option Value

Commission

$0 – $2

$35 + $1.50 per contract

$2.01 – $3

$35 + $2.00 per contract

$3.01 – $4

$35 + $2.50 per contract

$4.01 – $5

$35 + $3.00 per contract

$5.01 and over

$35 + $3.50 per contract

Currency of Commission

For all trades, commissions for transactions denominated in USD

dollars are priced in USD and charged in USD.

Option Spreads and Combinations

Option Spread and Combination trades placed over the phone

will be charged $35 plus the per contract amounts listed above

for all contracts traded (priced in the currency of the transaction).

Option Assignments and Exercises

Automatic assignments and automatic exercises will be charged

a commission of $15 in the currency of the account for each

transaction.

Client directed exercises of an option position will be charged

$43 in the currency of the account for each transaction.

Gold and Silver (In U.S. Dollars)

GOLD BULLION

$30 + $1/oz (In U.S. Dollars)

SILVER BULLION

$30 + $0.10/oz (In U.S. Dollars)

Fixed Income Investments

Canadian Over The Counter (O.T.C.) Bonds, U.S. Bonds,

Exchange-Traded Bonds and Money Market Securities

Commissions for Bonds, Strip Coupons, GICs, TBills and other

Fixed Income and Money Market securities are included in the

quoted prices. Minimum purchase amounts vary by security.

Convertible Debentures

Bond Par Value

Commission

$0 – $49,999

$40 + $1.50/1,000

$50,000 and over

$40 + $1.00/1,000

A minimum commission of $110 is charged for trades with a par

value of $50,000 and over.

Commissions for transactions denominated in U.S. dollars (USD)

are priced in USD and charged in USD.

Mutual Funds

No commissions apply

to buy, sell or switch. A short-term

redemption fee may apply (see details below).

Short-Term Redemption Fee Policy

This policy applies to all mutual funds oered through TD Direct

Investing, except Money Market funds and those purchased on

a Deferred Sales Charge (DSC) or rear load basis. Funds held for

less than 30 days are subject to a short-term redemption fee of

1% of redemption value or $45 (whichever is greater) in addition

to any fee(s) the mutual fund company itself may charge.

Special Note: When an order is placed through one service

(for example, an Investment Representative)

and then

changed thr

ough a dierent service (for example, an

Electronic Brokerage Service), the commission charged will

be based on the service with the higher commission structure.

Fee Schedule

A,D

All fee amounts indicated in CDN $ unless otherwise speciied.

Banking Fees

MoneyLink

EasyLine

and EasyWeb

inquiries – refer to the TD Canada Trust

“About Our Accounts and Related Services” brochure for current

charges

Interac

Direct Payment surcharge (where applicable)

(in addition to regular withdrawal charge)

$1.50

President’s Account allows two free Interac withdrawals

monthly. Charge for each additional transaction

$1.50

Interac ABM and PLUS System Foreign Currency Withdrawal

Fees (in addition to regular withdrawal charge):

Foreign Exchange fee 2.5% of converted withdrawal amount

Handling fee in U.S. and Mexico

$3.00

Handling fee outside of Canada, U.S. and Mexico

$5.00

TD Canada Trust ATM Interim Statement

$1.00

Bill payment at a TD Canada Trust branch

$1.30

Other Banking Fees

Stop Payment (cheque or pre-authorized payment)

$12.50

Non-suicient funds (NSF) cheques returned per item

(Presentment charge – includes all items)

$48.00

Wire Payments – Outgoing

Up to $10,000

$30.00

$10,000 – $50,000

$50.00

More than $50,000

$80.00

U.S. dollar wire and fee in CDN equivalent.

Foreign bank charges may apply.

Wire Payments – Incoming

Canadian/Foreign

$17.50

U.S.

$17.50 U.S.

Request for refund or replacement of lost or stolen

cheque/draft

$10.00

Interest Rates

Please call TD Direct Investing for current interest rates on:

■ Cash balances for Trading Accounts

and Registered Accounts

■ Debit balances for Cash Accounts

and Registered Accounts

■ Borrowing on Margin Accounts

Trading Fees

Streaming Market Data Fees

A monthly fee for streaming market data services may be

applicable to such services. Professional Users

are subject

to additional fees levied by the exchanges. Please visit

td.com/ca/en/investing/direct-investing/pricing/

for further

information regarding our advanced streaming market data

platforms and associated fees. Clients will be asked to accept

the applicable fees when subscribing to the service.

Maintenance Fees

Household accounts

^ with total assets

of $15,000 or greater.

No Fee

Household accounts

^ with total assets

of less than $15,000.

$25/quarter

The fee will be waived if any one of the following conditions is

met:

■ The irst account in your household accounts

^ has been open

for less than six months

■ One or more of the accounts in your household accounts

^ are

enrolled in a Systematic Investment Plan (SIP) or Preauthorized

Deposit or Preauthorized Contribution that totals $100/month

or more

■ Your household accounts

^ completed three or more trades

in the preceding quarter which incurred a commission

■ Your household accounts

^ include a Registered Disability

Savings Plan (RDSP)

* The Maintenance Fee will be assessed at the end of each

calendar quarter.

** A commission paid trade is deined as a illed equity,

exchange traded fund, or option order for which a commission

has been charged.

^ Household accounts are deined as those TD Direct Investing

accounts for clients living in the same household, with the

same address. You must advise TD Direct Investing of these

multiple account relationships.

Transfer Fees (Partial and Full)

Direct Trading and Registered Accounts

$150.00

Other Registered Account Fees

Full withdrawal fee (excluding RDSP, RESP, TFSA and RRIF)

$100.00

Partial withdrawal fee (RRSP, Basic RRSP, LIRA, LRSP only)

$25.00

Mortgages Held in a Registered Account – Per Mortgage,

Per Plan (if applicable)

Set-up fee

$250.00

Mortgage increase

$100.00

Annual mortgage administration fee

$225.00

Split mortgage fee

$100.00

Mortgage payment received by cheque

$5.00

Partial discharge

$50.00

Discharge or arrears statement, additional advance

$50.00

NSF Cheques

$48.00

Additional Advance

$50.00

Arrears

$50.00

For details on additional mortgage set-up costs, contact your

TD Canada Trust branch.

Estate Accounts

Deposit of Physical Securities Certiicates Registered in the

Name of the Deceased

Processing fee (per security transaction)

$150.00

Account Statements and Trade Conirmations

Electronic Account Statements and Trade Conirmations

No Fee

Mailed Trade Conirmations and Account Statements

(per envelope)

(waived for Accounts not registered for WebBroker)

$2.00

Duplicate statement/conirmation/tax slip request

Less than 7 years (per item)

$5.00

Other Fees

Delivery and receipt against payment

(per transaction)

$50.00

Small Business Investment Trusts (SBITs) – on approval basis only

Transaction fee – minimum per security transaction

$250.00

Annual administration fee per security

$100.00

Private Placements – on approval basis only

Transaction fee – minimum per security transaction

$250.00

Restricted Shares – on approval basis only

Transaction fee – minimum per security transaction

$200.00

Annual administration fee per security

$100.00

Delivery of registered certiicates and/or Direct

Registration Services (DRS) statement

Canadian Companies (certiicate and DRS statement)

$56.50

U.S. Companies (DRS statement)

$80.00 U.S.

Rush (13 business days-applicable

to Canadian securities only)

$150.00

Note: Additional shipping charges may apply for delivery of

certiicates outside Canada. If a U.S. certiicate is required

in exceptional circumstances, the U.S. Depository charges

$500.00 U.S.

Shareholder Communication materials for Objecting

Beneicial Owners (OBOs) only.

Material delivery costs incurred when the issuer or third party

does not pay, depending on the size and weight of the item.

Cheque pick-up fee (per cheque)

$6.50

Asset Transfers to a related third party

TD Direct Investing account (per request)

$15.00

Handling Fee for Under-Margined/Debit Balance Accounts

(per event plus applicable commissions)

$15.00

Statement of Disclosure of Rates and

Fees for TD Direct Investing

Trading Accounts

(including Cash, Margin, Option and Short Selling Accounts)

■ Direct Trading

■ President’s Account

■ Quebec Stock Savings Plan

Registered Accounts

■ Registered Retirement Savings Plan (RRSP)

■ Registered Retirement Income Fund (RRIF)

■ Basic (RRSP/RRIF/LIRA/LRIF/LIF)

■ Locked-In Plans (LIRA, LIF, LRSP, LRIF, RLSP, RLIF, Prescribed

RIF (PRIF))

■ Registered Education Savings Plan (RESP)

■ Tax-Free Savings Account (TFSA)

■ Registered Disability Savings Plan (RDSP)

Electronic Brokerage Services

Moneylink

Trading Accounts and Registered Accounts: TD Direct Investing

trading accounts (Margin and Cash), and the following Registered

accounts, RRSPs (except for Basic RRSPs), RIFs, RLSP, LRSP and TFSAs

operate in both Canadian and US dollars. Other TD Direct Investing

Registered accounts (RESPs and RDSPs) may only be established in

Canadian dollars.

Interest on Cash Balances in Trading Accounts: Interest on the

Canadian and U.S. dollar accounts will be calculated at TD Direct

Investing’s prevailing rates, based on the daily closing cash balance

and paid monthly. Interest shall not be payable on a closing credit

balance in a short margin account. No interest is paid on closing cash

balances where the monthly amount is less than the following for

each currency: CDN $5 and USD $5.

Interest on Debit Balances for Cash Accounts: Interest will be

charged on Canadian Dollar Direct Trading account debit balances at

TD’s prevailing overdraft interest rate and on U.S. dollar debit balances

at TD’s U.S. Dollar Base Rate, speciied by the prevailing interest rates

and subject to a minimum charge as speciied by TD Direct Investing

from time to time.

Interest will be charged on President’s Account debit balances at TD’s

prevailing Canadian Prime and/or U.S. Dollar Base Rate plus an annual

percentage at the rate speciied by the prevailing interest rates.

Interest will be calculated on the daily closing balance in the account

and is payable monthly. The minimum overdraft charge will be the

charge speciied by the prevailing interest rates.

Interest on Borrowings for Margin Accounts: Borrowing on this

account will be subject to interest at TD’s prevailing Canadian Prime

and/or U.S. Dollar Base Rate plus a speciied percentage per annum

calculated on the daily closing balance of the account and payable

monthly. Borrowings include all fees charged to these accounts.

Interest on Debit Balances for Registered Accounts

: Interest will be

charged on debit balances at TD’s prevailing overdraft interest rate

calculated on the daily closing balance of the account and payable

monthly.

Interest on Cash Balances in Registered Accounts

: Interest will be

calculated at TD Direct Investing prevailing rates, based on the daily

closing cash balance and, if payable, will be paid monthly.

Deposits or Contributions: Deposits or contributions to your account

may be made without charge through EasyLine telephone banking

and EasyWeb Internet banking, at any TD Canada Trust branch or

TD Direct Investing location in Canada. MoneyLink clients may also

deposit through any Automated Banking Machine (ABM), via Interac or

PLUS worldwidenetwork (provided MoneyLink clients have completed

the appropriate documentation).

Withdrawals: Cash withdrawals from TD Direct Investing accounts

may be completed using the Electronic Fund Transfer (EFT) service

or by forwarding to your TD Canada Trust branch or a TD Direct

Investing location for “pick-up”, upon approval of a TD Direct Investing

authorized oicer. Refer to “Other Fees” for Cheque Pick-up fee details.

Any other type of settlement or security withdrawal request will be

subject to a handling charge.

If certiicates are requested on full or partial redemption of a

registered account, additional funds may be required to cover the

applicable withholding tax.

Account Closure/Transfer Fee: A fee will be charged for all trading

and registered accounts that are withdrawn in full or transferred to

another inancial institution.

10.

Commission and Fee Charges: See Commission Schedule for trades

executed by TD Direct Investing through Canadian and U.S.

exchanges.

Trade orders entered will be charged the applicable commission rate

on a per order basis. Partial ills executed on more than one day will be

charged applicable TD Direct Investing commissions for each day.

In most ixed income product transactions, we may act as principal.

We and parties related to us receive revenue based, where applicable,

on rates established with the issuer (which may be a party related

to us), or on the dierence between the price paid by those related

parties and by us, and the price you pay. We may also charge

commissions on these transactions, including bond option exercises

and assignments.

11.

Notice of Account Conditions: TD Direct Investing reserves the right

to require a seven day notice period for intended withdrawals from

accounts.

12.

Presentment Charges: All NSF items returned to TD Direct Investing

are subject to a presentment charge against the account identiied

on the application.

13.

Waiver of Protest: Presentment, protest and notice of dishonour of

all items including cheques lodged with TD Direct Investing are waived

and the full amount of any such item may be charged back to any or

all accounts if we do not receive prompt payment thereof and any

such item will be forwarded to you by ordinary mail, not insured, at

your risk.

14.

Maintenance Fee: A fee will be assessed on your total combined

household account relationship

^ and charged for all households that

do not meet the waiver criteria outlined in this document. The fee will

be calculated based on the assets at the calendar quarter end and

charged in following month.

^Household accounts for this purpose are deined as those TD Direct

Investing accounts for clients living in the same household, with the

same address. You must advise TD Direct Investing of these multiple

account relationships.

15.

Administration Fees: An annual administration fee speciied under

Other Fees will be charged annually in March every year for each

Small Business Investment Trust (SBIT) in your account(s). The fee for

SBITs processed into your account(s) before the annual billing date will

be prorated, excluding partial months.

16.

Currency Conversion: If you make a trade involving a security which is

denominated in a currency other than the currency of the account in

which the trade is to settle, or receive a payment to your account in

a currency other than the currency of the account, a conversion of

currency may be required. In all such transactions and at any time

a conversion of currency is made, we will act as principal with you

in converting the currency at rates established or determined by us

or parties related to us. We and the parties related to us may earn

revenue, in addition to the commission applicable to such a trade,

based on the dierence between the applicable bid and ask rates for

the currency and the rate at which the rate is oset either internally,

with a related third party, or in the market. The charge to you and the

revenue earned by us and parties related to us may be higher when a

transaction requires more than one currency conversion or when the

currency is not commonly traded. Conversion of currency, if required,

will take place on the trade or deposit date, as applicable, unless we

agree otherwise.

Where a transaction with a mutual fund company involves a currency

conversion, the company may charge you for the conversion. Where

the company is not a part of TD, neither we nor any party related to

us earns any revenue in connection with such conversions. Where the

company is a part of TD, it may earn revenue in connection with such

conversions as described herein, but we do not.

When a security is held in an account denominated in a currency other

than that speciied for payment in a corporate action, we will convert

that payment at our then-prevailing exchange rate and make payment

to your account in the currency of that account.

17.

Communications: Communications include notices, margin calls,

demands, reports and transaction conirmations. You agree that we:

(a) may send Communications to you at any address (including a

mailing address, email address, electronic, internet address) or fax

number that you give us in your application or thereafter in writing;

and (b) may contact you by phone for Communications not required

to be in writing. All Communications sent to you, regardless of how

they are sent, will be considered to be delivered to you personally,

whether you actually receive them or not.

Reports and transaction conirmations will be considered inal if

not objected to on the date of notiication by telephone or within

10 days of when we send them to you. Statements of your account

will be considered inal if not objected to within 45 days of when we

send them to you.

18.

Client Problem Resolution Process: We process large volumes of

client account transactions each day and we do everything to ensure

that your business is handled in an eicient, courteous and accurate

manner. However, we want to know if we have not met the high level

of standards we set for ourselves. We have procedures for clients

that wish to bring a complaint to our attention and have it addressed

quickly and eectively.

If you should have a complaint, we encourage you to contact us at

18004655463. If it is not resolved to your satisfaction, please write

Wealth Cares team, P.O. Box 5999, Stn. F, Toronto, Ontario,

M4Y 2T1,

or by fax at 4169832578.

Please Note: In the case of conlict between the information contained

in this statement and the conditions contained in any written

agreement, the written agreement prevails.

For more information, please call

TD Direct Investing

at 18004655463.

td.com/directinvesting

Commissions for transactions denominated in U.S. dollars (USD) are

priced in USD and charged in USD. Commissions and interest rates are

subject to change without notice. All other rates and fees are subject

to change upon 60 days prior notice. Fees are charged in the currency

of the account to which they relate. All trade orders will be charged

an applicable commission rate on a per order basis. For instance,

if multiple trade orders are placed on the same day, for the same

security, and on the same side of the market, each individual order

will be subject to the applicable commission rate.

Your household’s quarterly trading activity will be reviewed on a

monthly basis using your eligible trading activity from the previous

three calendar months. An eligible trade is deined as a stock,

exchange-traded fund, or option order for which a commission has

been charged. Pricing will go in to eect on the 4th business day of

every month. Household accounts are deined as those TD Direct

Investing accounts for clients living in the same household, with the

same address. You must advise TD Direct Investing of these multiple

account relationships.

Mutual Fund charges imposed by the Fund companies (i.e. set-up Fees,

early redemption fees) are in addition to those charged by TD Direct

Investing (if any). These charges vary with particular funds. Please

with particular funds. Please refer to the simpliied prospectus of each

mutual fund before investing.

Subject to GST or HST where applicable. GST and HST Registration

#899181127 RT0001.

This service is only available to President’s Account clients.

Interest of less than CDN $5 or USD $5 on cash balances in any month

is not paid.

A “Professional User” is any one of the following:

■ An employee of (i) a member of any stock exchange or

(ii) a Canadian Investment Regulatory Organization (CIRO) Dealer

Member, or (iii) any business registered under any securities law

or regulation;

■ An individual or entity trading in the account as a paid agent

for a third party; or

■ An individual or entity whose account is in the name of a

corporation, partnership or sole proprietorship.

Trades which are considered to have incurred a commission or fee are:

Buys and sells of Equities, Options, Mutual Funds with fees (excludes

MERs), Fixed Income – Bonds, Treasury Bills, Bankers’ Acceptances,

Bearer Deposit Notes, Commercial Paper and Crown Corporation

Money Market Instruments. Buys and sells of GICs, Term Deposits,

Canada Savings Bonds, Money Market Mutual Funds and Provincial

Savings Bonds are not eligible trades.

Registered Accounts

■ Registered Retirement Savings Plan (RRSP)

- Refers to the TD Waterhouse Self-Directed Retirement Savings Plan

■ Registered Retirement Income Fund (RRIF)

- Refers to the TD Waterhouse Self-Directed Retirement Income Fund

■ Basic (RRSP/RRIF/LIRA/LRIF/LIF) - Refers to the TD Waterhouse

Self-Directed RSP, RIF and Locked-in Plans

■ Locked-In Plans (LIRA, LIF, LRSP, LRIF, RLSP, RLIF, Prescribed RIF (PRIF))

- Refers to the TD Waterhouse Self-Directed Locked-in Plans

■ Registered Education Savings Plan (RESP)

- Refers to the TD Securities Inc. Self-Directed Education Savings Plan

■ Tax-Free Savings Account (TFSA)

- Refers to the TD Waterhouse Tax-Free Savings Account

■ Registered Disability Savings Plan (RDSP)

- Refers to the TD Waterhouse Disability Savings Plan

Other charges may apply, including but not limited to all applicable

fees incurred from the transfer agent, lawyer, or issuing company for

re-registration.

Applicable to related third party transfers involving a TD Direct

Investing account of an immediate family member (one degree

removed and grandparents), or a family trust account (legal trust)

where the client is a settler.

TD Direct Investing is a division of TD Waterhouse Canada Inc., a subsidiary

of The Toronto-Dominion Bank. TD Bank Group means The Toronto-Dominion

Bank and its ailiates, who provide deposit, investment, loan, securities, trust,

insurance and other products or services.

Bank or its subsidiaries.

®The TD logo and other TD trademarks are the property of The Toronto-Dominion

521778 (0724)