Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 50

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 50
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ness includes the Notes. Upon the occurrence of a Recourse Event, the recourse of each holder of the Notes will be limited to such holder’s proportionate share of the Corresponding Limited Recourse Trust Assets, and all claims of the holders of Notes against the Bank under the Notes will be extinguished upon receipt of the Corresponding Limited Recourse Trust Assets. If the Corresponding Limited Recourse Trust Assets that are delivered to the Noteholders under such circumstances comprise Series 33 Shares or Common Shares, such Series 33 Shares or Common Shares will rank on parity with all other Class A First Preferred Shares or Common Shares, as applicable. For the avoidance of doubt, as a result of the limited recourse feature as described in “Description of the Notes—Limited Recourse”, the ranking of the Notes will not be relevant during insolvency proceedings or wind-upof the Bank, since once the Corresponding Limited Recourse Trust Assets shall have been delivered to the holders of Notes, such delivery will have exhausted all remedies of such holders against the Bank, and the Notes shall have ceased to be outstanding. For these purposes,

| • |     | “Higher Ranked Indebtedness” means Indebtedness of the Bank then outstanding (including all     
 Subordinated Indebtedness then outstanding other than Junior Deeply Subordinated Indebtedness). |

| • |     | “Indebtedness” at any time means the deposit liabilities of the Bank at such time; and all other                                                                                                                                                         
 liabilities and obligations of the Bank to third parties (other than fines or penalties which pursuant to the Bank Act are a last charge on the assets of the Bank in the case of insolvency of the Bank and obligations to shareholders of the Bank, as 
 such) which would entitle such third parties to participate in a distribution of the Bank’s assets in the event of the insolvency or winding-up of the Bank.                                                                                             |

| • |     | “Junior Deeply Subordinated Indebtedness” means Indebtedness of the Bank then outstanding which by       
 its terms ranks equally in right of payment with, or is subordinate to, the Notes (including the Notes). |

| • |     | “Subordinated Indebtedness” at any time means the Bank’s subordinated indebtedness within the 
 meaning of the Bank Act.                                                                      |

Events of Default The Indenture and the Notes will provide that an event of default in respect of the Notes will occur if the Bank becomes insolvent or bankrupt or resolves to wind-upor liquid