Company: TDBCP
Filing Date: 2025-07-10
Form Type: 424B2
Source: 0001140361-25-025513
Chunk: 42

Company: TORONTO DOMINION BANK
Filing Date: 2025-07-10
Form: 424B2
Chunk 42
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 The liquidity test will be applied on a pro-rata basis where the testing period is less than 12 months:

| (i) | A non-constituent which does not turnover at least 0.05% of their shares in issue (after the application of any free float weightings) based on their median daily trading volume per month in ten of the twelve months prior to a full 
 market review, will not be eligible for inclusion in the XIN0I.                                                                                                                                                                         |

| (ii) | An existing constituent which does not turnover at least 0.04% of its shares in issue (after the application of any free float weightings) based on its median daily trading volume per month for a least eight of the twelve months 
 prior to a full market review will be removed from the XIN0I.                                                                                                                                                                        |

| (iii) | New issues which do not have a twelve month trading record must have a minimum three month trading record when reviewed. They must turnover at least 0.05% of their free float adjusted shares based on their median daily trading       
 volume each month, on a pro-rata basis since listing. When testing liquidity, the free float weight as at the last date in the testing period will be used for the calculation for the whole of that period. This rule will not apply to 
 new issues added under fast entry inclusion as part of the FTSE®All-World Index review.                                                                                                                                                  |

At the sole discretion of FTSE Russell, the above percentage figures may be adjusted by up to 0.01% at the March and September review so that, in FTSE Russell’s opinion, the XIN0I better reflects the liquid investable market of the region. This discretion may only be exercised across the whole market and may not be applied to individual securities. At the March and September reviews of the FTSE ®All-World Index, newly listed companies will have their liquidity assessed on a pro-rata basis.

| • | New Issues. New issues, which do not qualify as early entrants, will become eligible for inclusion at the March and September reviews of the FTSE All-World Index providing they have, since the commencement of official              
 non-conditional trading, a minimum of at least three trading months prior to the date of that review and turnover of at least 0.05% of their free float adjusted shares based in issue based on their median daily trading volume each 
 month, on a pro rata basis since their listing.                                                                                                                                                                                        |

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