Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 44

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 44
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, which
may include the redemption of outstanding capital securities of the Bank and/or the repayment of other outstanding liabilities of the Bank. The proceeds of this offering are expected to qualify as “Additional Tier 1” capital of the Bank
for regulatory purposes.

Separate consideration will not be received from the investors in connection with the Series 33 Shares.

The offering price of the Series 33 Shares offered pursuant to this prospectus supplement is US$1,000 per share. The purchase price for the
Series 33 Shares offered hereby shall be satisfied by payment of the Canadian Dollar Equivalent of the offering price by the Bank to the Limited Recourse Trustee to satisfy the subscription price for voting trust units of the Limited Recourse Trust.
As a result, no proceeds will be raised from the offering of the Series 33 Shares pursuant to this prospectus supplement.

TD Securities
(USA) LLC is our affiliate. Accordingly, the offering of the Notes will conform to the requirements of FINRA Rule 5121. TD Securities (USA) LLC is not permitted to sell the Notes to an account over which it exercises discretionary authority without
the prior specific written approval of the account holder.

S-25

CONSOLIDATED CAPITALIZATION AND INDEBTEDNESS The following table sets forth the Bank’s consolidated subordinated notes and debentures and equity at July 31, 2025, as adjusted to give effect to the sale and issuance of the Notes and the Series 33 Shares in this offering. This table should be read in conjunction with the Bank’s unaudited interim consolidated financial statements for the three and nine months ended July 31, 2025 (the “Q3 2025 Unaudited Consolidated Financial Statements”) and the Q3 2025 MD&A, which are incorporated by reference in this prospectus supplement.

|                                                                                                       |     | As at                             
 July 31, 2025                     
 (in millions of Canadian dollars) |         |   |     | As          
 adjusted(1) |         |   |
|:------------------------------------------------------------------------------------------------------|:----|:----------------------------------|--------:|:--|:----|:------------|--------:|:--|
| Subordinated notes and debentures(2)                                                                  |     | $                                 |  10,496 |   |     | $           |  10,496 |   |
| Equity                                                                                                |     |                                   |         |   |     |             |         |   |
| Common shares (millions of shares issued and