We've officially crossed two remarkable thresholds: $25 billion in assets under management (AUM) within our ETF lineup, and $500 billion in total AUM across all our investment offerings¹. These twin milestones, achieved in mid-2025, mark a significant moment, not just for us, but for Canadian and North American investors alike. They signal our growing influence in the ETF space and reaffirm our leadership in the broader asset-management landscape. Here's what these milestones mean for investors, and why they're worth celebrating.

The $500B AUM Milestone: Strength in Scale

As of August 31, 2025, TD Asset Management Inc. (TDAM) and its U.S. affiliate, Epoch Investment Partners Inc., collectively manage approximately $504 billion in assets. This includes solutions spanning mutual funds, ETFs, professionally managed portfolios, and institutional mandates, serving millions of investors¹. Achieving this scale underscores TDAM's continued growth as one of Canada's largest asset managers, with a growing global presence.

For investors, size brings advantages: access to more diversified strategies, improved pricing through economies of scale, and infrastructure that supports responsive service and platform innovation. It also enhances TDAM's credibility in negotiating access to unique investment opportunities and supports enhanced risk management across its product suite.

The $25B ETF Milestone: Riding the ETF Wave

Complementing its overall growth is TDAM's push into the ETF market - a booming segment especially among cost-conscious retail investors. Reaching $25 billion in ETF assets represents a major leap for TDAM's ETF business, signifying strong adoption of its lineup among investors seeking liquidity, transparency, and low costs. As one of the fastest growing providers over the past five years, we have grown our ETF assets from $1B in 2020 to $25B in 2025¹.

This trend mirrors the broader ETF boom. ETF inflows and AUM are soaring globally, with North America leading the pack. A $25B benchmark reinforces TDAM's competitive presence on the global ETF stage, highlighting its ETF strategies across passive, cost-sensitive and thematic investment vehicles.

What This Means for You as an Investor

• More options, better flexibility: A larger ETF lineup can give you more ways to build targeted or diversified portfolios tailored to your goals and risk tolerance.
• Economies of scale: With increased AUM, TDAM can potentially lower costs and fees - benefits that are often passed on to investors.
• Stability and trust: Hitting $500B reflects scale and experience, providing investors with a sense of stability even during volatile markets.
• Innovation momentum: As TDAM scales its ETF business, investors may see expanded offerings and enhanced tools for managing portfolios.

Implications for the Industry

TDAM hitting both milestones positions it among the asset-management heavyweights in Canada and North America. This may compel other major players to ramp up their ETF efforts, sparking heightened competition and innovation. Retail investors stand to benefit from broader product choices, improved fee structures, and more accessible investment platforms.

Powered by People, Driven by Purpose

Numbers tell one part of the story, but culture tells the rest. At TDAM, accountability, ethics, and excellence shape everything we do. Our people-portfolio managers, analysts, and client teams-are the heartbeat of our success. We invest in them, empower them, and celebrate them. Because when our people thrive, so do our clients.

While $25 billion in ETF AUM and $500 billion overall are milestones worth celebrating, they're not the finish line. They're fuel for the next chapter, one of innovation, evolution, and helping clients achieve their financial goals. Whether you're saving for retirement, funding education, or building generational wealth, TDAM is here for the journey.