Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 30

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 30
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 the Series 33 Shares will be mandatorily converted into Common Shares and delivered to the Noteholders. Accordingly, trading behavior in respect of the Notes or Series 33 Shares is not necessarily expected to follow trading behavior associated with other types of convertible or exchangeable securities. Any indication, whether real or perceived, that the Bank is trending towards a Trigger Event can be expected to have an adverse effect on the market price of the Notes, Series 33 Shares and the Common Shares, whether or not such Trigger Event actually occurs. The number and value of Common Shares to be received in connection with a Contingent Conversion is variable and subject to further dilution. The number of Common Shares issuable in connection with a Contingent Conversion is calculated by reference to the prevailing market price of Common Shares immediately prior to a Trigger Event, subject to the Floor Price (as defined below). If there is a Contingent Conversion at a time when the Common Share Price (as defined below) is below the Floor Price, investors may receive Common Shares with an aggregate market price less than the value of the Notes or the Series 33 Shares. The Bank is expected to have outstanding from time to time other subordinated debt and preferred shares that will automatically convert into Common Shares upon a Trigger Event. Other subordinated debt and preferred shares that are convertible into Common Shares upon a Trigger Event may use a lower effective Floor Price or a different multiplier than that applicable to the Notes or Series 33 Shares to determine the maximum number of Common Shares to be issued to holders of such instruments upon a Trigger Event. In such cases, the Noteholders or holders of Series 33 Shares will receive Common Shares pursuant to a Contingent Conversion at a time when S-16

other subordinated debt or preferred shares, as the case may be, are converted into Common Shares at a conversion rate that is more favorable to the holders of such instruments than the rate
applicable to the Notes or Series 33 Shares, thereby causing substantial dilution to holders of Common Shares and the Noteholders or holders of Series 33 Shares, who will become holders of Common Shares upon a Contingent Conversion.

In the circumstances surrounding a Trigger Event, the Superintendent or other governmental authorities or agencies may also require other
steps to be taken, or implement other resolution tools, to restore or maintain the viability of the Bank, such as the injection of new capital and the issuance of additional Common Shares or other securities. In addition, CDIC has the power to
convert, or cause the Bank to convert