Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 75

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 75
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 the Bank and not revoked. If the Dividend Waiver has been revoked and the
Limited Recourse Trustee becomes entitled to voting rights, the Limited Recourse Trustee will exercise any voting rights in respect of the Series 33 Shares held by the Limited Recourse Trustee only as directed by the Bank, and the Bank will provide
instructions as to the voting of Series 33 Shares only upon receiving directions from the Noteholders.

Tax Election

The Series 33 Shares will be “taxable preferred shares” as defined in the Tax Act for purposes of the tax under Part IV.1 of the
Tax Act applicable to certain corporate holders of such shares. The terms of the Series 33 Shares will require the Bank to make the necessary election under Part VI.1 of the Tax Act so that corporate holders will not be subject to the tax under Part
IV.1 of the Tax Act on dividends received (or deemed to be received) on the Series 33 Shares.

Bank Act Restrictions

The Bank reserves the right not to issue shares, including Series 33 Shares, to any person whose address is in, or whom the Bank or its
transfer agent has reason to believe is a resident of, any jurisdiction outside Canada, to the extent that such issue would require the Bank to take any action to comply with the securities, banking or analogous laws of such jurisdiction. See also
“Description of Common Shares and Preferred Shares—Limitations Affecting Holders of Common Shares and Preferred Shares—Bank Act Restrictions and Restrictions on Payment of Dividends” in the accompanying base prospectus.

Non-BusinessDays

In the event that any dividend is payable or any other action or payment is required to be taken or paid in respect of the Series 33 Shares on
a day that is not a business day, then such dividend shall be payable or such other action or payment shall be taken or made on the immediately following business day unless the Bank determines to take such action or make such payment on the
immediately preceding business day.

Additional Amounts

No additional amounts will be paid by the Bank on dividends paid or deemed to be paid on the Series 33 Shares.

S-44

DESCRIPTION OF COMMON SHARES

For a description of the terms of the Common Shares, see “Description of Common Shares and Preferred Shares—Common Shares”
in the accompanying base prospectus.

S-45

CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS

Prospective investors should refer to the section “Tax Consequences—