Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 90

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 90
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 Tax Act.

Acquisitions by the Bank of Series 33 Shares or Common Shares

If the Bank redeems for cash or otherwise acquires Series 33 Shares or Common Shares, other than by a purchase in the open market in the manner
in which shares are normally purchased by a member of the public in the open market, the Non-resident Holder will be deemed to have received a dividend equal to the amount, if any, paid by the Bank, including
any redemption premium, in excess of the paid-up capital (as determined for purposes of the Tax Act) of such shares at such time. See “Dividends” above. Generally, the difference between the amount
paid and the amount of the deemed dividend will be treated as proceeds of disposition for the purposes of computing the capital gain or capital loss arising on a disposition of such shares. See “Dispositions of Series 33 Shares or Common
Shares” above.

Contingent Conversion of Series 33 Shares

A Contingent Conversion of Series 33 Shares into Common Shares after the date on which all the Series 33 Shares are delivered to holders of the
Notes in accordance with the terms of the Indenture and the Limited Recourse Trust Declaration will be deemed not to be a disposition of the Series 33 Shares and, accordingly, will not give rise to any income or loss. The cost to a Non-resident Holder of Common Shares received on such a Contingent Conversion will be deemed to be an amount equal to the adjusted cost base to the Non-resident Holder of the
converted Series 33 Shares immediately before such a Contingent Conversion. The cost of a Common Share received on such a Contingent Conversion will generally be averaged with the adjusted cost base of all Common Shares held by the Non-resident Holder as capital property immediately before such time for the purpose of determining thereafter the adjusted cost base of each such share.

S-55

CERTAIN ERISA CONSIDERATIONS

The following is a summary of certain considerations associated with the purchase of the Notes, the Series 33 Shares on a Recourse Event
and Common Shares on a Recourse Event that is a Trigger Event or on a Contingent Conversion by (i) “employee benefit plans” within the meaning of Section 3(3) of the U.S. Employee Retirement Income Security Act of 1974, as amended
(“ERISA”) that are subject to Title I of ERISA, (ii) plans, individual retirement accounts and other arrangements that are subject