Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 49

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 49
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ordinated Indebtedness which by its terms ranks subordinate to the Notes), in each case, from time to time outstanding, and will be subordinate in right of payment to all of the Bank’s deposit liabilities and the Bank’s other unsubordinated creditors, provided that in the event of the occurrence of a Recourse Event, including an event of default, the sole remedy of a holder of the Notes shall be recourse to such holder’s proportionate share of the Corresponding Limited Recourse Trust Assets. For the avoidance of doubt, the Junior Deeply Subordinated Indebtedness includes the Notes. Upon the occurrence of a Recourse Event, the recourse of each holder of the Notes will be limited to such holder’s proportionate share of the Corresponding Limited Recourse Trust Assets, and all claims of the holders of Notes against the Bank under the Notes will be extinguished upon receipt of the Corresponding Limited Recourse Trust Assets. If the Corresponding Limited Recourse Trust Assets that are delivered to the Noteholders under such circumstances comprise Series 33 Shares or Common Shares, such Series 33 Shares or Common Shares will rank on parity with all other Class A First Preferred Shares or Common Shares, as applicable. For the avoidance of doubt, as a result of the limited recourse feature as described in “Description of the Notes—Limited Recourse”, the ranking of the Notes will not be relevant during insolvency proceedings or wind-upof the Bank, since once the Corresponding Limited Recourse Trust Assets shall have been delivered to the holders of Notes, such delivery will have exhausted all remedies of such holders against the Bank, and the Notes shall have ceased to be outstanding. For these purposes,

| • |     | “Higher Ranked Indebtedness” means Indebtedness of the Bank then outstanding (including all     
 Subordinated Indebtedness then outstanding other than Junior Deeply Subordinated Indebtedness). |

| • |     | “Indebtedness” at any time means the deposit liabilities of the Bank at such time; and all other                                                                                                                                                         
 liabilities and obligations of the Bank to third parties (other than fines or penalties which pursuant to the Bank Act are a last charge on the assets of the Bank in the case of insolvency of the Bank and obligations to shareholders of the Bank, as 
 such) which would entitle such third parties to participate in a distribution of the Bank’s assets in the event of the insolvency or winding-up of the Bank.                                                                                             |

| • |     | “Junior Deeply Subordinated Ind