Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 80

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 80
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 accompanying base prospectus) if the redemption
(i) results in a complete termination of the U.S. Holder’s equity interest in the Bank or (ii) is not essentially equivalent to a dividend with respect to the U.S. Holder. In determining whether any of these tests has been met,
shares of stock considered to be owned by such U.S. Holder by reason of certain constructive ownership rules set forth in Section 318 of the Code, as well as shares actually owned, must be taken into account. If a redemption does not meet any
of the tests described above, the cash received by a U.S. Holder would be treated as a distribution on the Series 33 Shares (generally with the consequences described under “Tax Consequences—United States Taxation—Common
Shares—Dividends” in the accompanying base prospectus).

A Contingent Conversion of Series 33 Shares into Common Shares should
generally be treated as a non-recognition event for U.S. federal income tax purposes. Thus, a U.S. Holder should generally recognize no gain or loss upon the conversion of its Series 33 Shares into Common
Shares. The U.S. Holder’s aggregate tax basis in any Common Shares received upon a Contingent Conversion should generally be equal to such holder’s aggregate tax basis in such holder’s Series 33 Shares that were converted into
Common Shares, and such holder’s holding period in the Common Shares should generally include the holding period of the Series 33 Shares that were converted.

Common Shares

The material U.S.
federal income tax consequences to a U.S. Holder with respect to the ownership of any Common Shares received pursuant to a Recourse Event that is a Trigger Event or a Contingent Conversion would, subject to the discussion below, generally be as
described in “Tax Consequences—United States Taxation—Common Shares” in the accompanying base prospectus.

If a
U.S. Holder is eligible for a reduced rate of Canadian withholding tax on dividends on the Common Shares under the Convention (i.e., a rate that is lower than the Canadian statutory rate), such U.S. Holder will

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only be eligible for a foreign tax credit for such taxes withheld at the reduced Convention rate, and not for any taxes withheld in excess of such rate. In addition, the Foreign Tax Credit
Regulations impose additional requirements for foreign taxes to be eligible for a foreign tax credit, and there can be no assurance that those requirements will be satisfied with respect to any Canadian withholding taxes