Company: TDBCP
Filing Date: 2025-09-12
Form Type: 424B5
Source: 0001193125-25-201820
Chunk: 90

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-12
Form: 424B5
Chunk 90
---
 of an applicable income tax treaty or convention. For
a Non-resident Holder who is a resident of the United States and qualifies for the benefits of the Canada-United States Tax Convention, the rate of withholding will generally be reduced to
15 percent.

Dispositions of Series 33 Shares or Common Shares

A Non-resident Holder of Series 33 Shares or Common Shares who disposes of or is deemed to dispose of
Series 33 Shares or Common Shares (other than as discussed under “Acquisitions by the Bank of Series 33 Shares or Common Shares” below) will not be subject to tax in respect of any capital gain realized on a disposition of Series 33
Shares or Common Shares unless such shares constitute “taxable Canadian property” (as defined in the Tax Act) to the Non-resident Holder at the time of the disposition and the Non-resident Holder is not entitled to relief under an applicable income tax treaty or convention. The Series 33 Shares or Common Shares will be considered taxable Canadian property if such shares are not listed on
a “designated stock exchange” (as defined in the Tax Act, and which currently includes the TSX and the NYSE) and, at any time during the 60-month period immediately preceding the disposition, such
shares derived (directly or indirectly) more than 50 percent of their fair market value from real or immovable property situated in Canada, Canadian resource properties, timber resource properties or options in respect of, or interests in, or
for civil law rights in, any such property, all as defined for the purposes of the Tax Act.

S-54

The disposition by a Non-resident Holder of Series
33 Shares or Common Shares that are taxable Canadian property (other than “treaty-exempt property” as defined in the Tax Act) at the time of their disposition may be subject to certain withholding and reporting requirements under section
116 of the 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.