Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 89

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 89
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 arm’s length with a “specified shareholder” (within the
meaning of Subsection 18(5) of the Tax Act) of the Bank, is not an entity in respect of which the Bank is a “specified entity” (within the meaning of subsection 18.4(1) of the Tax Act), and does not use or hold the Notes, Series 33
Shares or Common Shares in a business carried on in Canada (a “Non-resident Holder”). Special rules, which are not discussed in this summary, may apply to a Holder that is an insurer that carries
on an insurance business in Canada and elsewhere. This summary assumes that no interest paid on the Notes will be in respect of a debt or other obligation to pay an amount to a person with whom the Bank does not deal at arm’s length within the
meaning of the Tax Act.

Notes

Interest on and Disposition of the Notes

Under the Tax Act, interest, principal and premium, if any, paid or credited, or deemed to be paid or credited to a Non-resident Holder on Notes will be exempt from Canadian non-resident withholding tax. No other taxes on income (including taxable capital gains) will be payable under the
Tax Act in respect of the acquisition, holding, redemption or disposition of Notes, or the receipt of interest, premium or principal thereon by a Non-resident Holder solely as a consequence of such
acquisition, holding, redemption or disposition of Notes.

Recourse Events

A Recourse Event will result in a disposition of Notes for purposes of the Tax Act. A Non-resident
Holder will not generally be subject to tax under the Tax Act in respect of such disposition. The cost of a Series 33 Share or Common Share received on such Recourse Event will generally equal the fair market value of such share on the date of
acquisition and will generally be averaged with the adjusted cost base of all other Series 33 Shares or Common Shares, as the case may be, held by such Non-resident Holder as capital property immediately
before such time for the purpose of determining thereafter the adjusted cost base of each such share.

Series 33 Shares and Common Shares

Dividends

A
dividend (including a deemed dividend) paid or credited on the Series 33 Shares or Common Shares to a Non-resident Holder will generally be subject to Canadian
non-resident withholding tax under the Tax Act at a rate of 25 percent, subject to any reduction in the rate of such withholding under the provisions