Company: TDBCP
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036947
Chunk: 126

Company: TORONTO DOMINION BANK
Filing Date: 2025-02-26
Form: 424B5
Chunk 126
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 warrants; or                                                                                    |

| • |     | increase the minimum denomination of structured warrants of any series as may be permitted by the terms of such 
 series.                                                                                                         |

38

Modification with Consent of Holders.We and the structured warrant agent, with the consent of the holders of not less than a majority in number of the then outstanding structured warrants affected, may modify or amend the structured warrant agreement. However, we and the structured warrant agent may not make any of the following modifications or amendments without the consent of each affected holder:

| • |     | shorten the period of time during which the structured warrants may be exercised; |

| • |     | reduce the amount receivable upon exercise, cancellation or expiration of the structured warrants other than in                      
 accordance with the antidilution provisions or other similar adjustment provisions included in the terms of the structured warrants; |

| • |     | change the exercise price of the structured warrants; |

| • |     | materially and adversely affect the rights of the holders of the structured warrants; or |

| • |     | reduce the percentage of outstanding structured warrants the consent of whose holders is required for the 
 modification of the structured warrant agreement.                                                         |

Merger, Consolidation, Sale, Lease or Conveyance. The structured warrant agreement provides that we will not merge or consolidate with any other person or sell, lease or convey all or substantially all of our assets to any other person, only if certain conditions, including the following, are met:

| • |     | we will be the continuing corporation or the successor corporation, or the person which acquires all or                                                                                                                                       
 substantially all of our assets shall either (1) be one or more direct or indirect affiliates which we control or which are under common control with us or (2) will expressly assume or guaranty all of our obligations under the structured 
 warrant agreement; and                                                                                                                                                                                                                        |

| • |     | immediately after such merger, consolidation, sale, lease or conveyance, we, or any such successor that has                                              
 assumed our obligations, will not be in default in the performance of the covenants and conditions of the structured warrant agreement applicable to us. |

Absence of Protections against All Potential Actions of the Bank. There are no covenants or other provisions in the structured warrant agreement that would afford holders of structured warrants additional protection in the event of a recapitalization transaction, a change of control of the Bank or a highly leveraged transaction. The merger covenants described above would apply only if the