Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 87

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 87
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 than) the adjusted cost base of such shares to that Resident Holder immediately before the disposition or deemed disposition. The amount of any deemed dividend arising on the redemption or purchase for cancellation,
as applicable, by the Bank of Series 33 Shares or Common Shares will generally not be included in computing the proceeds of disposition to any Resident Holder for purposes of computing the capital gain or capital loss arising on the disposition of
such shares. See “Acquisitions by the Bank of Series 33 Shares or Common Shares” below. If the Resident Holder is a corporation, any such capital loss realized on a disposition of a Series 33 Share or a Common Share, as the case may be,
may, in certain circumstances, be reduced by the amount of any dividends which have been received or which are deemed to have been received on such share. Analogous rules apply to a partnership or trust of which a corporation, trust or partnership
is a member or beneficiary.

S-52

Acquisitions by the Bank of Series 33 Shares or Common Shares

If the Bank redeems for cash or otherwise acquires Series 33 Shares or Common Shares other than by a purchase in the open market in the manner
in which shares are normally purchased by a member of the public in the open market, the Resident Holder will be deemed to have received a dividend equal to the amount, if any, paid by the Bank, including any redemption premium, in excess of the paid-up capital (as determined for purposes of the Tax Act) of such shares at such time. See “Dividends” above. Generally, the difference between the amount paid and the amount of the deemed dividend
will be treated as proceeds of disposition for the purposes of computing the capital gain or capital loss arising on the disposition of such shares. See “Dispositions of Series 33 Shares or Common Shares” above. In the case of a
corporate Resident Holder, it is possible that in certain circumstances all or part of the amount so deemed to be a dividend may be treated as proceeds of disposition and not as a dividend.

Contingent Conversion of Series 33 Shares

A Contingent Conversion of Series 33 Shares into Common Shares after the date on which all the Series 33 Shares are delivered to holders of the
Notes in accordance with the terms of the Indenture and the Limited Recourse Trust Declaration will be deemed not to be a disposition of the Series 33 Shares and, accordingly, will not give rise to any income or loss. The cost to a Resident Holder
of Common