Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 76

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 76
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 Noteholders unless a holder discloses on its U.S. federal income tax return that it is taking an inconsistent position. Due to the lack of authority regarding the
characterization of the Notes for U.S. federal income tax purposes, U.S. Holders are urged to consult their own tax advisors regarding the appropriate characterization of the Notes and the tax consequences to them if the IRS were to successfully
assert a characterization that differs from the Bank’s treatment of the Notes as equity for U.S. federal income tax purposes. The remainder of this section assumes that the Notes are characterized as equity for U.S. federal income tax
purposes. If, however, the Notes were characterized as indebtedness for U.S. federal income tax purposes, the U.S. federal income tax consequences to a U.S. Holder with respect to the ownership of the Notes would generally be the consequences with
respect to debt securities described in “Tax Consequences—United States Taxation” in the accompanying base prospectus.

Assuming the Notes are characterized as equity for U.S. federal income tax purposes (as discussed above), the U.S. federal income tax
consequences to a U.S. Holder with respect to the ownership of the Notes will, subject to the discussion below, generally be the same as the consequences of the ownership of Common Shares, and the discussion in the section “Tax
Consequences—United States Taxation” in the accompanying base prospectus should be read as if references to the “common shares” included the Notes. For these purposes, payments of interest on the Notes will generally be
treated in the same manner as distributions on Common Shares therein described, and thus interest payments on the Notes that are treated as dividends for U.S. federal income tax purposes may, subject to applicable limitations (including a minimum
holding period requirement), be eligible for treatment as “qualified dividend income” in the case of non-corporate U.S. Holders (as described in “Tax Consequences—United States
Taxation—Common Shares—Dividends” in the accompanying base prospectus). U.S. Holders should consult their own tax advisors regarding special rules that may apply in determining their holding period for the Notes.

Interest payments on the Notes that are treated as dividends and that exceed certain thresholds in relation to a U.S. Holder’s tax basis
in the Notes could be characterized as “extraordinary dividends” under the Code. A non-corporate U.S. Holder that receives an extraordinary dividend will be required to treat any loss on