Company: TDBCP
Filing Date: 2025-10-31
Form Type: 424B2
Source: 0001140361-25-039953
Chunk: 26

Company: TORONTO DOMINION BANK
Filing Date: 2025-10-31
Form: 424B2
Chunk 26
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 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 a Reference Asset is subject to a share split or receives a share dividend, then the Calculation Agent will adjust its Initial Price, Buffer Price and/or any other relevant term, as applicable, by dividing its prior Initial Price, Buffer 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 such Reference Asset outstanding immediately after the share split or share dividend becomes effective; divided by (2) the number of shares of such Reference Asset outstanding immediately before the share split or share dividend becomes effective. The Initial Price, Buffer 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 a Reference Asset trades without the right to receive the share split occurs after the Pricing Date and on or before the Valuation Date; or |

| • | in the case of a share dividend, the ex-dividend date occurs after the Pricing Date and on or before the Valuation Date. |

The ex-dividend date for any dividend or other distribution with respect to a Reference Asset is the first day on which such Reference Asset trades without the right to receive that dividend or other distribution. Reverse Share Splits A reverse share split is a decrease in the number of a corporation’s outstanding shares without any change in its shareholders’ equity. Each outstanding share will be worth more as a result of a reverse share split. P-20 If a Reference Asset is subject to a reverse share split, then the Calculation Agent will adjust its Initial Price, Buffer Price and/or any other relevant term, as applicable, by multiplying its prior Initial Price, Buffer Price and/or any other relevant term, as applicable, of such Reference Asset by a number equal to: (1) the number of shares of such Reference Asset outstanding immediately before the reverse share split becomes effective; divided by (2) the number of shares of such Reference Asset outstanding immediately after the reverse share split becomes effective. Its Initial Price, Buffer Price and/or any other relevant term, as applicable, will not be adjusted, however, unless the reverse share split becomes effective after the Pricing Date