Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 63

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 63
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No Restriction on Other Indebtedness

The Bank may create, issue or incur any other Indebtedness which, in the event of the insolvency or winding-up of the Bank, would rank in right of payment in priority to, equally with, or subordinate to the Notes.

Consolidation, Merger, Sale or Conveyance

Under the Indenture, the Bank may merge or consolidate with any other person or sell, lease or convey all or substantially all of our assets to
any other person, only if certain conditions are met, as described in “Description of the Debt Securities—Merger, Consolidation, Sale, Lease or Conveyance” in the accompanying base prospectus.

Modification

There are three categories
of changes the Bank can make to the Indenture and the Notes, each of which is described in the section “Description of the Debt Securities—Modification of the Indenture” in the accompanying base prospectus. In addition, (i) a
modification of certain provisions of the Limited Recourse Trust Declaration requires the specific approval of each holder of the Notes and (ii) any modification to the Indenture or the Notes in a manner that would affect the regulatory capital
classification afforded to the Notes from time to time for capital adequacy requirements pursuant to the Bank Act and the regulations and guidelines thereunder, including the CAR Guideline, will require the prior written approval of the
Superintendent.

The Trustees

Computershare Trust Company, National Association serves as U.S. trustee for the Notes, acting through its corporate trust office at 150 Royall
Street, Canton, Massachusetts, 02021.

Computershare Trust Company of Canada serves as Canadian trustee for the Notes and the Limited
Recourse Trustee, acting through its corporate trust office at 100 University Avenue, 8th Floor, Toronto, Ontario, M5J 2Y1.

S-37

DESCRIPTION OF SERIES 33 SHARES

Set forth below is a summary of the material terms of the Series 33 Shares. The following summary is not complete and is qualified in its entirety by the Bank Act, the Bank’s By-lawsand the actual terms and conditions of the Series 33 Shares.

Prior to the closing of the offering of the Notes, the Series 33 Shares will be issued as a series of Class A First Preferred Shares of the Bank to the Limited Recourse Trustee to be held in accordance with the terms of the Limited Recourse Trust Declaration. See “Description of Common