Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 66

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 66
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 the Fixed Rate Calculation Date. Such determination will, in the absence of manifest error, be final and binding upon the Bank and all holders of Series 33 Shares. The Bank will, on the relevant Fixed Rate Calculation Date, give
notice of the Annual Fixed Dividend Rate for the ensuing Subsequent Fixed Rate Period to the registered holders of Series 33 Shares.

If
the board of directors does not declare a dividend, or any part thereof, on the Series 33 Shares on or before the dividend payment date therefor, then the rights of the holders of the Series 33 Shares to such dividend, or to any part thereof, will
be extinguished.

The Bank is restricted under the Bank Act from paying dividends on the Series 33 Shares in certain circumstances. See
“Description of Common Shares and Preferred Shares—Limitations Affecting Holders of Common Shares and Preferred Shares—Bank Act Restrictions and Restrictions on Payment of Dividends” in the accompanying base prospectus.

The Limited Recourse Trustee, as trustee of the Limited Recourse Trust, will, by written notice, provide to the Bank a waiver immediately
following the issue of the Series 33 Shares to the Limited Recourse Trustee of its right to receive any and all dividends on the Series 33 Shares during the period from and including the date of the waiver to and including the earlier of
(i) the date upon which the Limited Recourse Trustee, as trustee, provides, by written notice, a revocation of such waiver to the Bank; and (ii) the date upon which the Limited Recourse Trustee is no longer a registered holder of the
Series 33 Shares (the “Dividend Waiver”). Accordingly, no dividends are expected to be declared or paid on the Series 33 Shares while the Series 33 Shares are held by the Limited Recourse Trustee. The Dividend Waiver is applicable to the
Limited Recourse Trustee and will not bind a subsequent holder of the Series 33 Shares. The Bank will provide a covenant to the Limited Recourse Trustee that, at any time while the Series 33 Shares are held by the Limited Recourse Trustee and the
Dividend Waiver is no longer in effect, if the Bank does not declare and pay dividends in full on the Series 33 Shares, the Bank will not declare or pay cash dividends on any of its other outstanding series of Class A First Preferred Shares.

Redemption

Except as noted below,
the Series 33 Shares will not be redeemable