Company: TDBCP
Filing Date: 2025-09-16
Form Type: 424B2
Source: 0001193125-25-205043
Chunk: 51

Company: TORONTO DOMINION BANK
Filing Date: 2025-09-16
Form: 424B2
Chunk 51
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 Limited Recourse Trustee to subscribe for Series 33 Shares), (ii) Common Shares issued upon a Contingent Conversion (as defined below) (other than Dividend Common Shares, if any), (iii) cash from the
redemption, or the purchase by the Bank for cancellation, of Series 33 Shares (other than any portion of such cash in respect of any declared and unpaid dividends), or (iv) any combination thereof, depending on the circumstances. On the closing
of the offering of the Notes, the Corresponding Limited Recourse Trust Assets in respect of the Notes shall consist of 750,000 Series 33 Shares. At no time shall the Corresponding Limited Recourse Trust Assets include any dividends paid on the
Series 33 Shares, any right to receive declared, but unpaid, dividends on the Series 33 Shares or any Dividend Common Shares.

The Limited
Recourse Trust is a trust established under, and governed by, the laws of the Province of Manitoba and applicable laws of Canada, governed by an amended and restated declaration of trust dated as of October 16, 2020, as amended and restated as
of July 27, 2021 and further amended October 13, 2022 (and as may be further amended or restated from time to time, the “Limited Recourse Trust Declaration”). The Limited Recourse Trust’s objective is to acquire and hold
the Corresponding Limited Recourse Trust Assets in accordance with the terms of the Limited Recourse Trust Declaration. The Limited Recourse Trustee will hold trust assets in respect of more than one series of limited recourse capital notes of the
Bank. The Limited Recourse Trustee will hold the trust assets for each such series of notes separate from the trust assets for any other series of such notes and shall deliver such trust assets only in respect of the relevant series of notes.

The Limited Recourse Trust will only be dissolved following the earlier to occur of the following events: (a) no Notes (or any other
limited recourse capital notes) are outstanding and held by a person other than the Bank (whether through (i) a cash redemption by the Bank of all preferred shares (including the Series 33 Shares) held by the Limited Recourse Trust and
corresponding cash redemption of all corresponding limited recourse capital notes (including the Notes), (ii) delivery of all preferred shares (including the Series 33 Shares) held by the Limited Recourse Trust to holders of the corresponding
limited recourse capital notes on maturity