Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 86

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 86
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 received or deemed to be received by it on the Series 33 Shares
or the Common Shares to the extent such dividends are deductible in computing its taxable income.

Dispositions of Series 33 Shares or Common Shares

A Resident Holder who disposes of or is deemed to dispose of Series 33 Shares or Common Shares (including,
generally, on redemption or purchase for cancellation of the shares by the Bank for cash or otherwise) will generally realize a capital gain (or a capital loss) to the extent that the proceeds of disposition, net of any reasonable costs of
disposition, exceed (or are less than) the adjusted cost base of such shares to that Resident Holder immediately before the disposition or deemed disposition. The amount of any deemed dividend arising on the redemption or purchase for cancellation,
as applicable, by the Bank of Series 33 Shares or Common Shares will generally not be included in computing the proceeds of disposition to any Resident Holder for purposes of computing the capital gain or capital loss arising on the disposition of
such shares. See “Acquisitions by the Bank of Series 33 Shares or Common Shares” below. If the Resident Holder is a corporation, any such capital loss realized on a disposition of a Series 33 Share or a Common Share, as the case may be,
may, in certain circumstances, be reduced by the amount of any dividends which have been received or which are deemed to have been received on such share. Analogous rules apply to a partnership or trust of which a corporation, trust or partnership
is a member or beneficiary.

S-52

Acquisitions by the Bank of Series 33 Shares or Common Shares

If the Bank redeems for cash or otherwise acquires Series 33 Shares or Common Shares other than by a purchase in the open market in the manner
in which shares are normally purchased by a member of the public in the open market, the Resident Holder will be deemed to have received a dividend equal to the amount, if any, paid by the Bank, including any redemption premium, in excess of the paid-up capital (as determined for purposes of the Tax Act) of such shares at such time. See “Dividends” above. Generally, the difference between the amount paid and the amount of the deemed dividend
will be treated as proceeds of disposition for the purposes of computing the capital gain or capital loss arising on the disposition of such shares. See “Dispositions of Series 33 Shares or Common Shares” above. In the case of a
corporate Resident Holder, it is possible that in certain