Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 68

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 68
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 fractions, or in such other manner as the board of directors of the Bank determines.

“Canadian Dollar
Equivalent” means the Canadian dollar equivalent of U.S. dollars using the spot exchange rate as of 4:30 p.m. New York City time on September 17, 2025 (which is three business days after the date of this prospectus supplement).

Purchase for Cancellation

Subject to the
provisions of the Bank Act, the provisions described below under “—Restriction on Dividends and Retirement of Shares” and the consent of the Superintendent the Bank may at any time, purchase for cancellation any of the Series 33
Shares in the open market at the lowest price or prices at which in the opinion of the board of directors such shares are obtainable.

Conversion Upon Occurrence of a Non-ViabilityContingent Capital Trigger Event

Upon the occurrence of a
Trigger Event, each outstanding Series 33 Share will automatically and immediately be converted, on a full and permanent basis, without the consent of the holder thereof, into the number of Common Shares determined by the following formula:
(Multiplier x Share Value) ÷ Conversion Price (rounding down, if necessary, to the nearest whole number of Common Shares) (a “Contingent Conversion”). For the purposes of the foregoing:

“Common Share Price” means the volume weighted average per share trading price of the Common Shares on the TSX for the 10
consecutive Trading Day (as defined below) period ending on the Trading Day

S-40

immediately before the occurrence of a Trigger Event, or if the Common Shares are not then listed on the TSX, the principal stock exchange on which the Common Shares are then listed or quoted (being the stock exchange with the greatest volume of trading in the Common Shares during the previous six months), or if such shares are not listed or quoted on any stock exchange, or if no such trading prices are available, the Floor Price. “Conversion Price” means the greater of (i) the Common Share Price, and (ii) the Floor Price. “Floor Price” means C$5.00, subject to adjustment in the event of (i) the issuance of Common Shares or securities exchangeable for or convertible into Common Shares to all or substantially all of the holders of the Common Shares as a stock dividend or similar distribution, (ii) the subdivision, redivision or change of the Common Shares into a greater number of shares, or (iii) the reduction, combination or consolidation of the