Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 203

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 203
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 whom the holder assigns or otherwise transfers the security, (iii) is entitled to receive all payments (including any interest,
principal and dividends, as applicable) made on the security as beneficial owner, (iv) is not, and deals at arm’s length with each person who is, a “specified shareholder” (within the meaning of subsection 18(5) of the
Canadian Tax Act) of the Bank or any affiliate of the Bank, (v) does not use or hold and is not deemed to use or hold the security in or in the course of carrying on a business in Canada, (vi) is not an insurer carrying on an insurance
business in Canada and elsewhere, and (vii) is

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not an entity in respect of which the Bank or any affiliate of the Bank is a “specified entity” (within the meaning of subsection 18.4(1) of the Canadian Tax Act) (a “Non-resident Holder”). A “specified shareholder” for these purposes generally includes a person who (either alone or together with persons with whom that person is not dealing at arm’s
length) owns or has the right to acquire or control 25% or more of the Bank’s shares determined on a votes or fair market value basis. This summary assumes that no amount paid or payable in respect of the securities (including in respect of
any disposition of the securities) will be the deduction component of a “hybrid mismatch arrangement” under which the payment arises within the meaning of paragraph 18.4(3)(b) of the Canadian Tax Act.

This summary does not apply to securities described in this prospectus that are (i) debt securities that are subject to the NVCC
Provisions discussed above under “Description of the Debt Securities”; (ii) except for bail-inable debt securities, securities that are convertible or exchangeable for other securities; (iii) preferred shares; (iv) warrants;
(v) subscription receipts; or (vi) units. Non-resident Holders should review the applicable supplement related thereto and consult their own tax advisors.

This summary is based upon the current provisions of the Canadian Tax Act in force as of the date hereof, all specific proposals to amend the
Canadian Tax Act publicly announced by or on behalf of the Minister of Finance (Canada) prior to the date hereof (the “Tax Proposals”) and the current administrative policies of the Canada Revenue Agency (the “CRA”) published
in writing by the CRA prior to the date here