Company: TDBCP
Filing Date: 2025-07-18
Form Type: 424B2
Source: 0001140361-25-026334
Chunk: 24

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-18
Form: 424B2
Chunk 24
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 anti-dilution event requiring adjustment occurs with respect to the Initial Price, Threshold Price and/or any other relevant term, as applicable, for the Reference Asset, the Calculation Agent will adjust that Initial Price, Threshold Price and/or any other relevant term, as applicable, for each event, sequentially, in the order in which the events occur, and on a cumulative basis. Therefore, having adjusted the Initial Price, Threshold Price and/or any other relevant term, as applicable, for the first event, the Calculation Agent will adjust the Initial Price, Threshold Price and/or any other relevant term, as applicable, for the second event, applying the required adjustment to the Initial Price, Threshold Price and/or any other relevant term, as applicable, as already adjusted for the first event, and so on for each event for the Reference Asset. If an event requiring an anti-dilution adjustment occurs, the Calculation Agent will make the adjustment with a view to offsetting, to the extent practical, any change in the economic position of the holder and us, relative to the affected Notes, that results solely from that event. Accordingly, the Calculation Agent may modify or make adjustments that differ from the anti-dilution adjustments discussed herein as necessary to ensure an equitable result. Share Splits and Share Dividends A share split is an increase in the number of a corporation’s outstanding shares without any change in its shareholders’ equity. When a corporation pays a share dividend, it issues additional shares of its stock to all holders of its outstanding shares in proportion to the shares they own. Each outstanding share will be worth less as a result of a share split or share dividend. If the Reference Asset is subject to a share split or receives a share dividend, then the Calculation Agent will adjust the Initial Price, Threshold Price and/or any other relevant term, as applicable, by dividing the prior Initial Price, Threshold Price and/or any other relevant term, as applicable, before the share split or share dividend — by the number equal to: (1) the number of shares of the Reference Asset outstanding immediately after the share split or share dividend becomes effective; divided by (2) the number of shares of the Reference Asset outstanding immediately before the share split or share dividend becomes effective. The Initial Price, Threshold Price and/or any other relevant term, as applicable, will not be adjusted, however, unless:

| • | in the case of a share split, the first day on which the Reference Asset trades without the right to receive the share split occurs after the Pricing Date and on or before