Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 29

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 29
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 of depositors or other creditors and the public (for example, ongoing increased 
 difficulty in obtaining or rolling over short-term funding);                                                     |

S-15

| • |     | the Bank’s regulatory capital has, in the opinion of the Superintendent, reached a level, or is eroding in 
 a manner, that may detrimentally affect its depositors and creditors;                                      |

| • |     | the Bank has failed to pay any liability that has become due and payable or, in the opinion of the 
 Superintendent, the Bank will not be able to pay its liabilities as they become due and payable;   |

| • |     | the Bank failed to comply with an order of the Superintendent to increase its capital; |

| • |     | in the opinion of the Superintendent, any other state of affairs exists in respect of the Bank that may be                                     
 materially prejudicial to the interests of the Bank’s depositors or creditors or the owners of any assets under the Bank’s administration; and |

| • |     | the Bank is unable to recapitalize on its own through the issuance of Common Shares or other forms of regulatory                                                                                                                            
 capital (for example, no suitable investor or group of investors exists that is willing or capable of investing in sufficient quantity and on terms that will restore the Bank’s viability, nor is there any reasonable prospect of such an 
 investor or group of investors emerging in the near-term in the absence of conversion of contingent instruments).                                                                                                                           |

Canadian authorities retain full discretion to choose not to trigger non-viabilitycontingent capital notwithstanding a determination by the Superintendent that the Bank has ceased, or is about to cease, to be viable. Under such circumstances, the Noteholders and holders of Series 33 Shares could be exposed to losses through the use of other resolution tools or in liquidation. Circumstances surrounding a potential Contingent Conversion will have an adverse effect on the market price of the Notes and Series 33 Shares. The occurrence of a Trigger Event may involve a subjective determination by the Superintendent that the conversion of all contingent instruments is reasonably likely to restore or maintain the viability of the Bank. As a result, a Contingent Conversion may occur in circumstances that are beyond the control of the Bank. Also, even in circumstances where the market expects the Superintendent to cause a Contingent Conversion, the Superintendent may choose not to take that action. Because of the inherent uncertainty regarding the determination of when a Contingent Conversion may occur, it will be difficult to predict, when, if at all,