# EDGAR Filing Document

**Accession Number:** 0001603145
**File Stem:** 0001603145-25-000062
**Filing Date:** 2025-11
**Character Count:** 108260
**Document Hash:** 0beb4d5bcce6ecd96d19f266d88769d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001603145-25-000062.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001603145-25-000062

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251121

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** XPLR Infrastructure, LP
- **CENTRAL INDEX KEY:** 0001603145
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 300818558
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36518
- **FILM NUMBER:** 251508186

**BUSINESS ADDRESS:**
- **STREET 1:** 700 UNIVERSE BOULEVARD
- **CITY:** JUNO BEACH
- **STATE:** FL
- **ZIP:** 33408
- **BUSINESS PHONE:** 561-694-4697

**MAIL ADDRESS:**
- **STREET 1:** 700 UNIVERSE BOULEVARD
- **CITY:** JUNO BEACH
- **STATE:** FL
- **ZIP:** 33408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEXTERA ENERGY PARTNERS, LP
- **DATE OF NAME CHANGE:** 20210223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NextEra Energy Partners, LP
- **DATE OF NAME CHANGE:** 20140319

?xml version='1.0' encoding='ASCII'? xplr-20251121

![XPLR Logo.jpg](xplr-20251121_g1.jpg)<br>

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of earliest event reported: **November 21, 2025** 

---

| | | |
|:---|:---|:---|
| Commission<br>File<br>Number | Exact name of registrant as specified in its<br>charter, address of principal executive offices and<br>registrant's telephone number | IRS Employer<br>Identification<br>Number |
| 1-36518 | **XPLR INFRASTRUCTURE, LP** | 30-0818558 |

---

700 Universe Boulevard

Juno Beach, Florida 33408

(561) 694-4000

State or other jurisdiction of incorporation or organization: Delaware

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of exchangeon which registered <br> Common Units XIFR New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**SECTION 2 – FINANCIAL INFORMATION**

**Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant**

On November 21, 2025, XPLR Infrastructure Operating Partners, LP (XPLR OpCo), a direct subsidiary of XPLR Infrastructure, LP (XPLR), issued $750 million in aggregate principal amount of 7.750% senior unsecured notes due 2034 (the notes). The notes were issued pursuant to an indenture dated as of September 25, 2017 between XPLR OpCo and The Bank of New York Mellon, as trustee, as supplemented by an officer's certificate creating the notes, dated November 21, 2025.

The notes will pay interest semi-annually in arrears on April 15 and October 15 of each year, beginning on April 15, 2026 and will mature on April 15, 2034, unless redeemed in accordance with their terms prior to such date. At any time prior to April 15, 2029, XPLR OpCo may redeem some or all of the notes at a redemption price equal to 100% of the principal amount of the notes redeemed plus a make-whole premium and accrued and unpaid interest. On or after April 15, 2029, XPLR OpCo may redeem some or all of the notes at redemption prices of 103.875% or 101.938%, respectively, of the principal amount of the notes redeemed if the redemption occurs during the 12-month period beginning on April 15, 2029 or April 15, 2030, respectively, and a redemption price of 100% of the principal amount of the notes redeemed on or after April 15, 2031, in each case plus accrued and unpaid interest. In addition, at any time prior to April 15, 2029, XPLR OpCo may redeem up to 40% of the aggregate principal amount of the notes from the proceeds of one or more equity offerings at a redemption price equal to 107.750% of the principal amount of the notes redeemed, plus accrued and unpaid interest, if after any such redemption at least 50% of the aggregate principal amount of the notes issued remains outstanding. XPLR OpCo, at its option, also may redeem the notes, in whole but not in part, if a tax credit event, as defined in the officer's certificate creating the notes, occurs, at a redemption price equal to 101% of the principal amount, plus accrued and unpaid interest.

The notes are unsecured obligations of XPLR OpCo and are absolutely and unconditionally guaranteed, on a senior unsecured basis, by XPLR and XPLR Infrastructure US Partners Holdings, LLC (XPLR US Holdings), a subsidiary of XPLR OpCo. The notes are subject to, among other provisions, certain change of control provisions, restrictions on incurring liens to secure indebtedness and default and acceleration provisions relating to the failure to make required payments or to observe other covenants in the indenture and related documents, certain bankruptcy-related events and certain cross-default provisions with respect to other indebtedness agreements or instruments of XPLR OpCo, XPLR or XPLR US Holdings.

The foregoing description of the notes, the guarantees and the indenture is qualified in its entirety by reference to the indenture, the guarantee agreements and the officer's certificate creating the notes (including the form of notes), which are filed as exhibits hereto and incorporated into this report by reference.

------

**SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS**

**Item 9.01 Financial Statements and Exhibits**

---

| | | |
|:---|:---|:---|
| (d) | Exhibits (including those incorporated by reference). | Exhibits (including those incorporated by reference). |
|  | Certain exhibits listed below refer to named entities and were effective prior to the name change of those entities as follows: | Certain exhibits listed below refer to named entities and were effective prior to the name change of those entities as follows: |
|  | Former Entity Name | Current Entity Name |
|  | NextEra Energy Operating Partners, LP | XPLR Infrastructure Operating Partners, LP (effective January 27, 2025) |
|  | NextEra Energy Partners, LP | XPLR Infrastructure, LP (effective January 23, 2025) |
|  | NextEra Energy US Partners Holdings, LLC | XPLR Infrastructure US Partners Holdings, LLC (effective January 30, 2025) |

---

---

| | |
|:---|:---|
| Exhibit<br>Number | Description |
| 4.1\* | <u>[Indenture, dated as of September 25, 2017, between NextEra Energy Operating Partners, LP and The Bank of New York Mellon, as trustee (filed as Exhibit 4.1 to Form 8-K dated September 19, 2017, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314517000066/exhibit41-indenture.htm)</u> |
| 4.2\* | <u>[Guarantee Agreement dated as of September 25, 2017, between NextEra Energy Partners, LP and The Bank of New York Mellon, as guarantee trustee (filed as Exhibit 4.2 to Form 8-K dated September 19, 2017, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314517000066/exhibit42-nepghynotes.htm)</u> |
| 4.3\* | <u>[Guarantee Agreement dated as of September 25, 2017, between NextEra Energy US Partners Holdings, LLC and The Bank of New York Mellon, as guarantee trustee (filed as Exhibit 4.3 to Form 8-K dated September 19, 2017, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314517000066/exhibit43-usholdingsghynot.htm)</u> |
| 4.4\* | <u>[First Amendment to the Guarantee Agreement dated as of September 25, 2017, between NextEra Energy Partners, LP and The Bank of New York Mellon, as guarantee trustee, entered into as of June 27, 2019 (filed as Exhibit 4.5 to Form 8-K dated June 27, 2019, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314519000066/exhibit45.htm)</u> |
| 4.5\* | <u>[First Amendment to the Guarantee Agreement dated as of September 25, 2017, between NextEra Energy US Partners Holdings, LLC and The Bank of New York Mellon, as guarantee trustee, entered into as of June 27, 2019 (filed as Exhibit 4.6 to Form 8-K dated June 27, 2019, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314519000066/exhibit46.htm)</u> |
| 4.6\* | <u>[Second Amendment to the Guarantee Agreement dated as of September 25, 2017, between NextEra Energy Partners, LP and The Bank of New York Mellon, as guarantee trustee, entered into as of December 15, 2023 (filed as Exhibit 4.6 to Form 8-K dated December 15, 2023, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314523000051/exhibit46tonepdated12x15x2.htm)</u> |
| 4.7\* | <u>[Second Amendment to the Guarantee Agreement dated as of September 25, 2017, between NextEra Energy US Partners Holdings, LLC and The Bank of New York Mellon, as guarantee trustee, entered into as of December 15, 2023 (filed as Exhibit 4.7 to Form 8-K dated December 15, 2023, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314523000051/exhibit47tonepdated12x15x2.htm)</u> |
| 4.8\* | <u>[Third Amendment to the Guarantee Agreement dated as of September 25, 2017, between XPLR Infrastructure, LP and The Bank of New York Mellon, as guarantee trustee, entered into as of March 25, 2025](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)[(filed as Exhibit 4.](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)[8](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)[to Form 8-K dated](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)[March 25](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)[, 202](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)[5](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)[, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit48toxplrdated03x25x.htm)</u> |
| 4.9\* | <u>[Third Amendment to the Guarantee Agreement dated as of September 25, 2017, between XPLR Infrastructure US Partners Holdings, LLC and The Bank of New York Mellon, as guarantee trustee, entered into as of March 25, 2025](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit49toxplrdated03x25x.htm)[(filed as Exhibit 4.](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit49toxplrdated03x25x.htm)[9](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit49toxplrdated03x25x.htm)[to Form 8-K dated March 25, 2025, File No. 1-36518)](https://www.sec.gov/Archives/edgar/data/1603145/000160314525000018/exhibit49toxplrdated03x25x.htm)</u> |
| 4.10 | <u>[Officer's Certificate of XPLR Infrastructure Operating Partners, LP, dated](exhibit410toxplrdated11x21.htm)[November](exhibit410toxplrdated11x21.htm)[2](exhibit410toxplrdated11x21.htm)[1](exhibit410toxplrdated11x21.htm)[, 2025, creating the](exhibit410toxplrdated11x21.htm)[7.750](exhibit410toxplrdated11x21.htm)[% Senior Notes due 203](exhibit410toxplrdated11x21.htm)[4](exhibit410toxplrdated11x21.htm)</u> |
| 101 | Interactive data files for this Form 8-K formatted in Inline XBRL |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |

---

__________________________

\*&nbsp;&nbsp;&nbsp;&nbsp;Incorporated herein by reference.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: November 21, 2025

---

| |
|:---|
| XPLR INFRASTRUCTURE, LP |
| (Registrant) |
| **WILLIAM J. GOUGH** |
| William J. Gough |
| Controller |
| (Principal Accounting Officer) |

---

## Exhibit 4.10

**Exhibit 4.10**

**XPLR INFRASTRUCTURE OPERATING PARTNERS, LP**

**OFFICER'S CERTIFICATE**

**Creating the** 

**7.750% Senior Notes due 2034**

Robert S. Gordon, Treasurer of XPLR Infrastructure Operating Partners GP, LLC, the General Partner of XPLR Infrastructure Operating Partners, LP ("**XPLR OpCo**" or the "**Company**"), pursuant to the authority granted in the accompanying Board Resolutions (all capitalized terms used herein which are not defined herein or in <u>Exhibit A</u> hereto, but which are defined in the Indenture referred to below, shall have the meanings specified in the Indenture), and pursuant to Sections 201 and 301 of the Indenture, does hereby certify to The Bank of New York Mellon (the "**Trustee**"), as Trustee under the Indenture (For Unsecured Senior Debt Securities) dated as of September 25, 2017 between the Company and the Trustee, as amended (the "**Indenture**"), that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;The securities to be issued under the Indenture in accordance with this certificate shall be designated "7.750% Senior Notes due 2034" (the "**Notes**"). The Notes shall be issued in substantially the form thereof set forth in <u>Exhibit A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Notes, each of the following shall be additional definitions under the Indenture:

"*Applicable Premium*" means, with respect to any Note on any applicable Redemption Date, the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;1.0% of the principal amount of such Note; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;any positive excess of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the present value at such Redemption Date of (i) of the Redemption Price of such Note at April 15, 2029 (such Redemption Price (expressed in percentage of principal amount) being set forth in the table appearing below the fourth paragraph under the "Optional Redemption" heading within the Note (excluding accrued but unpaid interest, if any)) *plus* (ii) all remaining required interest payments due on the Note from the Redemption Date through and including April 15, 2029 (excluding accrued but unpaid interest to the Redemption Date, if any), computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the principal amount of such Note.

"*Capital Lease Obligation*" means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty.

"*Capitalized Leases*" means, with respect to any Person, leases that have been or should be, in accordance with GAAP, recorded as capital leases on the balance sheet of such Person. Solely for purposes of the definition of "*Capitalized Leases*" and "*Capital Lease Obligation*", GAAP shall be determined to be those accounting principles related to lease accounting in effect prior to the guidance codified in ASC 842, Leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

"*Cash Equivalents*" means any of the following types of Investments, to the extent owned by XPLR OpCo or XPLR US Holdings or any of their Subsidiaries free and clear of all Liens (other than Liens securing the Existing Credit Agreement):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;readily marketable obligations issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof; *provided* that the full faith and credit of the United States of America is pledged in support thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;time deposits with, or insured certificates of deposit or bankers' acceptances of, any commercial bank that (i) (A) is a lender under the Existing Credit Agreement or (B) is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (3) of this definition and (iii) has combined capital and surplus of at least US$1,000,000,000, in each case with maturities of not more than 12 months from the date of acquisition thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;commercial paper issued by any Person organized under the laws of any state of the United States of America and rated at least "Prime-1" (or the then equivalent grade) by Moody's or at least "A-1" (or the then equivalent grade) by S&P, in each case with maturities of not more than 12 months from the date of acquisition thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;Investments, classified in accordance with generally accepted accounting principles as current assets of XPLR OpCo or XPLR US Holdings or any of their Subsidiaries, in money market investment programs registered under the Investment Company Act of 1940, as amended, which are administered by financial institutions that have the highest rating obtainable from either Moody's or S&P, and the portfolios of which are limited solely to Investments of the character, quality and maturity described in clauses (1), (2) and (3) of this definition.

"*Cash Sweep and Credit Support Agreement*" means the Second Amended and Restated Cash Sweep and Credit Support Agreement by and between XPLR Infrastructure Operating Partners, LP and NextEra Energy Resources, LLC, dated as of February 17, 2025, as in effect on the Issue Date.

"*Change of Control*" means the occurrence of any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the consolidated assets of XPLR OpCo and its Subsidiaries taken as a whole to any "person" (as that term is used in Section 13(d) of the Exchange Act, but excluding any employee benefit plan of XPLR or any of its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan) other than to XPLR or to one or more of XPLR's or XPLR OpCo's Wholly-Owned Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;the adoption of a plan relating to the liquidation or dissolution of XPLR OpCo or XPLR;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;any "person" (as that term is used in Section 13(d) of the Exchange Act, but excluding any employee benefit plan of XPLR or any of its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan) other than NextEra Energy, Inc. files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person has become the direct or indirect "Beneficial Owner," as defined in Rule 13d-3 under the Exchange Act, of fifty percent (50%) or more of the common units of XPLR (as measured by voting power rather than the number of shares, units or the like, and excluding

------

voting power exercisable pursuant to a proxy granted by a limited partner in connection with a proxy solicitation conducted pursuant to Regulation 14A of the Exchange Act), if such acquisition gives such person the right to elect half or more of the members of XPLR's or XPLR GP's respective Board of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;the first day on which XPLR ceases to own 100% of the Equity Interests of the general partner of XPLR OpCo; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;the first day on which a majority of the members of the Board of Directors of XPLR are not Continuing Directors.

Notwithstanding the preceding, a conversion of XPLR, any of its Subsidiaries or XPLR GP from a limited liability company, corporation, limited partnership or other form of entity to a limited liability company, corporation, limited partnership or other form of entity or an exchange of all of the outstanding Equity Interests in one form of entity for Equity Interests in another form of entity shall not constitute a Change of Control, so long as following such conversion or exchange the "persons" (as that term is used in Section 13(d)(3) of the Exchange Act) who Beneficially Owned, directly or indirectly, the Voting Stock of XPLR immediately prior to such transactions continue to Beneficially Own, directly or indirectly, in the aggregate more than 50% of the Voting Stock of such entity, or continue to Beneficially Own, directly or indirectly, sufficient Equity Interests in such entity to elect a majority of its directors, managers, trustees or other persons serving in a similar capacity for such entity or its general partner, as applicable, and, in either case no "person" Beneficially Owns, directly or indirectly, more than 50% of the Voting Stock of such entity or its general partner, as applicable.

"*Change of Control Triggering Event*" means (1) a Change of Control has occurred and (2) the Notes are downgraded by both S&P and Moody's on any date during the period commencing 60 days prior to the consummation of such Change of Control and ending 60 days following consummation of such Change of Control.

"*Continuing Director*" means, as of any date of determination, any member of the Board of Directors of XPLR who: (1) was a member of such Board of Directors on the Issue Date; (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board at the time of such nomination or election; or (3) was appointed by XPLR GP.

"*Covenant Cash*" means, without duplication, internally generated cash and Cash Equivalents distributed by the Project Companies and XPLR US Holdings, directly or indirectly, to XPLR OpCo or XPLR US Holdings, as applicable, in respect of the Equity Interests of the Project Companies and XPLR US Holdings owned, directly or indirectly, by XPLR OpCo (other than dividends or other distributions that are funded, directly or indirectly, with substantially concurrent cash Investments, or cash Investments that were not used by a Project Company or XPLR US Holdings for capital expenditures or for operational purposes, by XPLR OpCo or any of its Subsidiaries in a Project Company and XPLR US Holdings), excluding (a) the proceeds of any extraordinary receipts (including cash payments or proceeds received (i) from any Disposition by XPLR OpCo or any of its Subsidiaries, (ii) under any casualty insurance policy in respect of a covered loss thereunder or (iii) as a result of the taking of any assets of XPLR OpCo or any of its Subsidiaries by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking) and (b) any cash that is derived from (i) cash grants and similar items to the Project Companies and XPLR US Holdings, (ii) any incurrence of Funded Debt by the Project Companies and XPLR US Holdings, (iii) any issuance of Equity Interests by the Project Companies and XPLR US Holdings, or (iv) any capital contribution to the Project Companies and XPLR US Holdings.

"*Covenant Cash Flow*" means, at any date of determination, an amount equal to the Covenant Cash received by XPLR OpCo or XPLR US Holdings, as applicable, during the most recently completed

------

Measurement Period, together with amounts deemed received in accordance with the definition of "Pro Forma Effect" (as defined in the Existing Credit Agreement as in effect on the Issue Date).

"*Disposition*" or "*Dispose*" means the sale, transfer, lease, distribution or other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.

"*Domestic Subsidiary*" means any Subsidiary of XPLR that was formed under the laws of the United States or any state of the United States or the District of Columbia other than XPLR OpCo.

"*Equity Interests*" means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock).

"*Excess Fee Adjustment*" means, for any Measurement Period, an amount equal to the amount by which the aggregate Fees for such Measurement Period exceed twenty percent (20%) of the total Covenant Cash Flow for such period (before any deduction therefrom for any Fees).

"*Existing Credit Agreement*" means the Second Amended and Restated Revolving Credit Agreement, by and between XPLR OpCo and XPLR US Holdings and Bank of America, N.A., as administrative agent and collateral agent, and the lenders party thereto, dated as of May 27, 2022, as amended to date, as the same may be amended, restated, modified, renewed, refunded, replaced or refinanced from time to time.

"*Fees*" means the Quarterly Fee Amount (as defined in the Management Services Agreement), the Additional Fee Amount (as defined in the Management Services Agreement), the IDR Fee (as defined in the Management Services Agreement) and the Credit Support Fee (as defined in the Cash Sweep and Credit Support Agreement) as required pursuant to the Cash Sweep and Credit Support Agreement and the Management Services Agreement.

"*Funded Debt*" means, as of the date of any determination thereof, the following (without duplication) with respect to any Person, determined on a consolidated basis in accordance with generally accepted accounting principles (other than as consolidated on the balance sheet of such Person solely as a result of the operation of the variable interest entity provisions in FASB ASC 810, and without giving effect to any change to Funded Debt or equity as a result of the operation of FASB ASC 715):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;all indebtedness for borrowed money (other than trade liabilities incurred in the ordinary course of business and payable in accordance with customary practices);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;all obligations evidenced by bonds, indentures, notes and other similar instruments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;all obligations with respect to the deferred purchase price of property (other than as described in clause (4) below and other than trade liabilities incurred in the ordinary course of business and payable in accordance with customary practices) to the extent that such obligations are absolute and fixed and not subject to any right of cancellation by such Person and/or any of its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;all obligations with respect to construction services to be performed, but only to the extent such obligations have become due and owing as of the date of any such determination pursuant to the provisions of the specific agreement evidencing such obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;all obligations of such Person and its Subsidiaries as lessee under (a) Capitalized Leases and (b) Synthetic Lease Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;all liabilities secured by any Lien on any property owned by such Person or any of its Subsidiaries;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;&nbsp;all obligations, contingent or otherwise, of such Person and its Subsidiaries in respect of acceptances, letters of credit or similar extensions of credit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;&nbsp;all net obligations under Swap Contracts in an amount equal to the Swap Termination Value thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;&nbsp;any Mandatorily Redeemable Stock of such Person and its Subsidiaries (the amount of such Mandatorily Redeemable Stock to be determined for this purpose as the higher of the liquidation preference and the amount payable upon redemption of such Mandatorily Redeemable Stock);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;&nbsp;&nbsp;&nbsp;any liabilities in respect of unfunded vested benefits under plans covered by Title IV of ERISA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;&nbsp;&nbsp;&nbsp;guarantees of obligations of the type described in any of clause (1) – clause (10) of this definition, but only to the extent of the indebtedness guaranteed thereby which is then-outstanding as of the date of any such determination pursuant to the provisions of the agreement in respect of which such obligation exists or arises.

"*Guarantor*" means each of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;XPLR, until such time as it is released pursuant to the provisions of the Indenture and XPLR's Guarantee Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;XPLR US Holdings, until such time as it is released pursuant to the provisions of the Indenture and the XPLR US Holdings Guarantee Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) &nbsp;&nbsp;&nbsp;&nbsp;any other Person that executes a Guarantee Agreement in respect of the Notes in accordance with the provisions of the Indenture or the Guarantee Agreements, and their respective successors and assigns.

"*Hedging Obligations*" means, with respect to any specified Person, the obligations of such Person under:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;currency exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;(a) agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates, commodity prices or commodity transportation or transmission pricing or availability; (b) any netting arrangements, power purchase and sale agreements, fuel purchase and sale agreements, swaps, options and other agreements, in each case, that fluctuate in value with fluctuations in energy, power or gas prices; and (c) agreements or arrangements for commercial or trading activities with respect to the purchase, transmission, distribution, sale, lease or hedge of any energy related commodity or service.

&nbsp;&nbsp;&nbsp;&nbsp;"*Indebtedness*" means, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables, except as provided in clause (5) below), whether or not contingent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;in respect of borrowed money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;in respect of banker's acceptances;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp;representing Capital Lease Obligations in respect of sale and leaseback transactions;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp;representing the balance of deferred and unpaid purchase price of any property or services with a scheduled due date more than six months after such property is acquired or such services are completed; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;&nbsp;representing the net amount owing under any Hedging Obligations, if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP.

In addition, the term "Indebtedness" includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person; *provided* that the amount of such Indebtedness shall be deemed not to exceed the lesser of the amount secured by such Lien and the value of the Person's property securing such Lien.

"*Investment*" means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (1) the purchase or other acquisition of Equity Interests of another Person, (2) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or interest in, another Person, or (3) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or all or a substantial part of the business of, such Person. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.

"*Issue Date*" means November 21, 2025.

"*Lien*" means any mortgage, pledge, lien, security interest or other charge or encumbrance with respect to any present or future assets or properties of the Person referred to in the context in which the term is used.

"*Management Services Agreement*" means the Fifth Amended and Restated Management Services Agreement, dated as of February 19, 2025, by and among XPLR Infrastructure, LP, XPLR Infrastructure Operating Partners GP, LLC, XPLR Infrastructure Operating Partners, LP and NextEra Energy Management Partners, LP, as in effect on the Issue Date.

"*Mandatorily Redeemable Stock*" means, with respect to any Person, any share of such Person's capital stock to the extent that it is (1) redeemable, payable or required to be purchased or otherwise retired or extinguished, or convertible into any indebtedness or other liability of such Person, (a) at a fixed or determinable date, whether by operation of a sinking fund or otherwise, (b) at the option of any Person other than such Person, or (c) upon the occurrence of a condition not solely within the control of such Person, such as a redemption required to be made out of future earnings, or (2) presently convertible into Mandatorily Redeemable Stock.

"*Measurement Period*" means, at any date of determination, the most recently completed four fiscal quarters of XPLR OpCo or XPLR US Holdings, as applicable.

"*Moody's*" means Moody's Investors Service, Inc. or any successor entity.

"*OpCo Funded Debt*" means, as of the date of any determination, Funded Debt of XPLR OpCo and its Subsidiaries (but not including any Funded Debt of the Project Companies that is not otherwise Guaranteed by XPLR OpCo or any Guarantor).

*"Person"* means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity.

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"*Project Company*" means each direct or indirect Subsidiary or any joint venture of XPLR OpCo or XPLR US Holdings that is created or acquired by XPLR OpCo or XPLR US Holdings and is the direct or indirect owner or lessee, or intended to become the direct or indirect owner, lessee or developer of all or any portion of any generating, transmission, distribution or other operating assets, or assets relating thereto (in each such case, a "Project"), together with the direct and indirect parents and subsidiaries of such Person, but excluding XPLR OpCo and XPLR US Holdings and any direct or indirect owner of any Equity Interest in XPLR OpCo or XPLR US Holdings.

"*S&P*" means S&P Global Ratings, a division of S&P Global or any successor entity.

"*Subsidiary Guarantee*" means, with respect to the Notes, each Subsidiary Guarantor's Guarantee of XPLR OpCo's Obligations under the Indenture and Notes pursuant to the terms of the Indenture and such Subsidiary Guarantor's Guarantee Agreement.

"*Subsidiary Guarantor*" means any Subsidiary of XPLR or XPLR OpCo that Guarantees the Notes pursuant to the terms of the Indenture and the Notes.

"*Swap Contract*" means (1) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (2) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a "*Master Agreement*"), including any such obligations or liabilities under any Master Agreement.

"*Swap Termination Value*" means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (1) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (2) for any date prior to the date referenced in the immediately preceding clause (1), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts.

"*Synthetic Lease Obligation*" means the monetary obligation of XPLR OpCo or XPLR US Holdings, as applicable, or any of its Subsidiaries under (1) a so-called synthetic, off-balance sheet or tax retention lease, or (2) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

"*Total Assets*" means, as at any date of determination, the assets of XPLR OpCo and its Subsidiaries determined on a consolidated basis and without duplication.

"*Treasury Rate*" means, as of any applicable Redemption Date with respect to the Notes, the yield to maturity computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent statistical release designated as "H.15" under the caption "Treasury constant maturities" or any successor publication which is published at least weekly by the Board of Governors of the Federal Reserve System (or companion online data resource published by the Board of Governors of the Federal Reserve System) and which establishes yields on actively traded United States Treasury securities

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adjusted to constant maturity that has become publicly available at least two Business Days prior to the Redemption Date (or, if such statistical release is no longer published, any publicly available source or similar market data)) most nearly equal to the period from the Redemption Date to April 15, 2029; provided, however, that if the period from the Redemption Date to April 15, 2029 is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the Redemption Date to April 15, 2029 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.

"*Voting Stock*" of any Person as of any date means the equity interests of such Person that is at the time entitled to vote in the election of the Board of Directors or governing body of such Person.

"*XPLR*" means XPLR Infrastructure, LP (formerly known as NextEra Energy Partners, LP), a Delaware limited partnership.

"*XPLR GP*" means XPLR Infrastructure Partners GP, Inc. (formerly known as NextEra Energy Partners GP, Inc.), a Delaware corporation, and its successors and permitted assigns that are admitted to XPLR as general partner of XPLR, in their capacity as general partner of XPLR (except as the context otherwise requires). XPLR GP is the sole general partner of XPLR and the holder of the XPLR General Partner Interest.

"*XPLR General Partner Interest*" has the meaning ascribed to the term "General Partner Interest" in the XPLR Limited Partnership Agreement.

"*XPLR Limited Partnership Agreement*" means the Sixth Amended and Restated Agreement of Limited Partnership of XPLR, as amended through the Issue Date, and as it may be further amended, supplemented or restated from time to time.

"*XPLR OpCo*" means XPLR Infrastructure Operating Partners, LP (formerly known as NextEra Energy Operating Partners, LP), a Delaware limited partnership.

"*XPLR OpCo Adjusted Covenant Cash Flow*" means, at any date of determination, the Covenant Cash Flow for the Measurement Period for which such determination is being made, minus the Excess Fee Adjustment for such period.

"*XPLR US Holdings*" means XPLR Infrastructure US Partners Holdings, LLC (formerly known as NextEra Energy US Partners Holdings, LLC), a Delaware limited liability company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;The Notes shall be issued by the Company in the initial aggregate principal amount of $750,000,000. Additional Notes, without limitation as to amount, having the same terms as the then-Outstanding Notes (except for the issue price of such additional Notes, the issue date of such additional Notes and, if applicable, the initial interest payment date of such additional Notes) may also be issued by the Company pursuant to the Indenture without notice to, or the consent of, the Holders of the then-Outstanding Notes. Any additional Notes as may be issued pursuant to the Indenture from time to time shall be part of the same series as the then-Outstanding Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;The Notes shall mature and the principal shall be due and payable, together with all accrued and unpaid interest thereon, on the Stated Maturity Date. The "Stated Maturity Date" for the Notes means April 15, 2034.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;Notes shall bear interest as provided in the form thereof set forth as <u>Exhibit A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;Each installment of interest on a Note shall be payable as provided in the form thereof set forth as <u>Exhibit A</u> hereto.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;The payment of principal of and premium, if any, and interest on the Notes, and all transactions with respect to the Notes, including registrations, transfers and exchanges of the Notes, may be effected at the office or agency of the Company in New York City, New York. Notices and demands to or upon the Company in respect of the Notes may be served at the office or agency of the Company in New York City, New York. The Corporate Trust Office of the Trustee will initially be the agency of the Company for such payment, registration, transfer and exchange and service of notices and demands, and the Company hereby appoints the Trustee as its agent for all such purposes; *provided*, *however*, that the Company reserves the right to change, by one or more Officer's Certificates, any such office or agency and such agent. The Trustee will initially be the Security Registrar and the Paying Agent for the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;The Notes will be redeemable at the option of the Company prior to the Stated Maturity Date as provided in the form thereof set forth in <u>Exhibit A</u> hereto. If less than all the Notes are to be redeemed, the particular Notes to be redeemed shall be selected by the Security Registrar from the Outstanding Notes by lot; provided, however, that with respect to Notes held by a securities depository in book-entry form, the particular Notes to be redeemed shall be selected in accordance with the procedures of such securities depository.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;So long as all of the Notes are held by a securities depository in book-entry-only form, the Regular Record Date for the interest payable on any given Interest Payment Date with respect to the Notes shall be the close of business on the Business Day immediately preceding such Interest Payment Date; *provided*, *however*, that if any of the Notes are not held by a securities depository in book-entry-only form, the Regular Record Date will be the close of business on the fifteenth (15th) calendar day immediately preceding such Interest Payment Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;The Notes will be initially absolutely and unconditionally guaranteed as to payment of principal, interest and premium, if any, by (i) XPLR Infrastructure, LP, as Parent Guarantor (the "**Parent Guarantor**"), pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the Parent Guarantor and The Bank of New York Mellon, as Parent Guarantee Trustee, (the **"Parent Guarantee Trustee"**) (as amended by the First Amendment to Parent Guarantee Agreement, dated as of June 27, 2019, between the Parent Guarantor and the Parent Guarantee Trustee, by the Second Amendment to Parent Guarantee Agreement, dated as of December 15, 2023, between the Parent Guarantor and the Parent Guarantee Trustee, and by the Third Amendment to Parent Guarantee Agreement, dated as of March 25, 2025 (the "**Third Amendment to the Parent Guarantee Agreement**"), between the Parent Guarantor and the Parent Guarantee Trustee, the "**Parent Guarantee Agreement**"), and (ii) by XPLR Infrastructure US Partners Holdings, LLC, as a Subsidiary Guarantor (the **"US Holdings Guarantor**") pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the US Holdings Guarantor and The Bank of New York Mellon, as Subsidiary Guarantee Trustee (the **"Subsidiary Guarantee Trustee"**) (as amended by the First Amendment to US Holdings Guarantee Agreement, dated as of June 27, 2019, between the US Holdings Guarantor and the US Holdings Guarantee Trustee, by the Second Amendment to US Holdings Guarantee Agreement, dated as of December 15, 2023, between the US Holdings Guarantor and the Subsidiary Guarantee Trustee, and by the Third Amendment to US Holdings Guarantee Agreement, dated as of March 25, 2025 (the "**Third Amendment to the US Holdings Guarantee Agreement**"), between the US Holdings Guarantor and the Subsidiary Guarantee Trustee, the "**US Holdings Guarantee Agreement**" and, together with the Parent Guarantee Agreement, the "**Guarantee Agreements**").

If (a) any Domestic Subsidiary of XPLR guarantees any Obligations of XPLR OpCo, XPLR or XPLR US Holdings, or (b) XPLR OpCo, XPLR or XPLR US Holdings guarantees any Obligations of such Domestic Subsidiary, such Domestic Subsidiary will become a Guarantor of the Notes and execute a Guarantee Agreement and deliver an opinion of counsel to the Trustee stating that the execution of the Guarantee Agreement is permitted by the Indenture, within 30

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business days of the date on which such Domestic Subsidiary Guaranteed such Obligations of XPLR OpCo, XPLR or XPLR US Holdings or which XPLR OpCo, XPLR or XPLR US Holdings Guaranteed such Obligations of such Domestic Subsidiary; *provided* that notwithstanding the foregoing, to the extent that the Guarantee provided by XPLR OpCo, or any Guarantor of such Domestic Subsidiary, as the case may be, supports operational or project related obligations (which, for the avoidance of doubt, shall not include Indebtedness for borrowed money or guarantees thereof) of such Domestic Subsidiary or any of its affiliates, including, without limitation, to support the performance obligations of such Domestic Subsidiary or any of its affiliates under project and other operational agreements or in connection with the cash management practices of such Domestic Subsidiary or any of its affiliates, then such Domestic Subsidiary shall not be required to become a Guarantor of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Notes, the provisions of Section 1102 of the Indenture shall apply to each Guarantor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Notes, each of the following shall be additional Events of Default:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;failure to give a Change of Control Offer with respect to the Notes when due and where such failure continues for a period of five Business Days; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a default under any mortgage, indenture or instrument under which there may be issued, or by which there may be secured or evidenced, any Indebtedness of XPLR OpCo and/or any Guarantor for money borrowed, the repayment of which XPLR OpCo or any Guarantor have Guaranteed or for which XPLR OpCo or any Guarantor are directly responsible or liable as obligor or guarantor, in excess of $100.0 million in the aggregate, whether such Indebtedness now exists or shall hereafter be created, which default (i) results in such Indebtedness becoming or being declared due and payable or (ii) constitutes a failure to pay the principal or interest of any such Indebtedness when due and payable, and such acceleration shall not have been rescinded or annulled or such failure to pay shall not have been cured, as the case may be, within 30 days after written notice to XPLR OpCo by the Trustee or to XPLR OpCo and the Trustee by the Holders of at least 33% in principal amount of the Notes then Outstanding has been received.

The Trustee will not be deemed to have notice of any of the additional Events of Default under this paragraph 12 with respect to the Notes unless (1) a Responsible Officer of the Trustee has actual knowledge of the additional Event of Default or (2) written notice of any event which is in fact such a default is received by a Responsible Officer of the Trustee at the corporate trust office of the Trustee, and such notice references the Notes and the Indenture.

XPLR OpCo may elect that the sole remedy for an event of default relating to XPLR's failure to comply with its reporting obligations as set forth in paragraph 13, below, will, after the occurrence of such an event of default, consist exclusively of the right to receive additional interest on the Notes at a rate equal to 0.25% per annum of the principal amount of the Notes then Outstanding for each day during the 180-day period on which such event of default is continuing beginning on, and including, the date on which such an event of default first occurs. If XPLR OpCo so elects, such additional interest will be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 181st day after such event of default (if the event of default relating to the reporting obligations is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in the Indenture. The right of XPLR OpCo to elect such sole remedy will not affect the rights of Holders in the event of the occurrence of any other event of default. In the event XPLR OpCo does not elect to pay the additional interest following an event of default in accordance with this paragraph or XPLR OpCo has elected to make such payment but does not

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pay the additional interest when due, the Notes will be immediately subject to acceleration as provided in the Indenture.

In order to elect to pay the additional interest as the sole remedy during the first 180 days after the occurrence of an event of default relating to the failure to comply with the reporting obligations in accordance with the immediately preceding paragraph, XPLR OpCo must notify in writing all Holders, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon XPLR OpCo's failure to timely give such notice, the Notes will be immediately subject to acceleration as provided in the Indenture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp; With respect to the Notes, the following reports shall be provided by XPLR:

Whether or not required by the Commission's rules and regulations, so long as any Notes are Outstanding, XPLR shall furnish or cause to be furnished to the Trustee, within 15 days after the same are or would be required to be filed with the Commission (giving effect to any grace period provided by Rule 12b-25 (or any successor rule) under the Exchange Act), and excluding any such information, documents or reports, or portions thereof, subject to confidential treatment and any correspondence with the Commission:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all quarterly and annual reports that would be required to be filed with the Commission on Forms 10-Q and 10-K if XPLR OpCo were required to file such reports; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all current reports that would be required to be filed with the Commission on Form 8-K if XPLR OpCo were required to file such reports.

All such reports shall be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports. Each annual report on Form 10-K will include a report on XPLR OpCo's consolidated financial statements by XPLR OpCo's independent registered public accounting firm.

Notwithstanding the foregoing, so long as XPLR continues to consolidate the results of XPLR OpCo in XPLR's financial statements, XPLR may elect to prepare and file and furnish the quarterly, annual and current reports and consolidated financial statements referred to above in respect of XPLR and such reports and consolidated financial statements will be deemed to satisfy the obligations of XPLR OpCo under this Section 13.

Documents filed with the Commission via the EDGAR system (or any successor thereto) will be deemed to be filed with the Trustee as of the time such documents are filed via EDGAR (or any successor thereto), but in no event will XPLR or XPLR OpCo be required to file the reports specified above with the Commission if XPLR or XPLR OpCo, as applicable, is not otherwise subject to the periodic reporting requirements of the Exchange Act.

Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee's receipt of such shall not constitute actual or constructive notice of any information contained therein or determinable from information contained therein, including our compliance with any of the Company's covenants under the Indenture (as to which the Trustee is entitled to rely exclusively on officer's certificates).

In addition, XPLR OpCo and XPLR agree that, for so long as any Notes remain Outstanding, if at any time they are not required to file the reports required by the preceding paragraphs with the Commission, and at such time, the Notes constitute "restricted securities"

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within the meaning of Rule 144(a)(3) under the Securities Act, they shall furnish to the holders and Beneficial Owners of the Notes and prospective purchasers of the Notes, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Notes, the following covenant shall be an additional covenant under the Indenture:

XPLR and XPLR OpCo will not, and will not permit any Subsidiary Guarantor to, create or permit to exist any Lien upon any property or assets, including Equity Interests issued by XPLR, XPLR OpCo or any Subsidiary Guarantor, in order to secure any Indebtedness of XPLR, XPLR OpCo or such Subsidiary Guarantor without providing for the Notes to be equally and ratably secured with (or prior to) any and all such Indebtedness and any other Indebtedness similarly entitled to be equally and ratably secured, for so long as such Indebtedness is so secured; *provided*, *however*, that this restriction will not apply to, or prevent the creation or existence of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;purchase money liens or purchase money security interests upon or in any property acquired by XPLR, XPLR OpCo or such Subsidiary Guarantor in the ordinary course of business to secure the purchase price or construction cost of such property or to secure indebtedness incurred solely for the purpose of financing the acquisition of such property or construction of improvements on such property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Liens existing on property acquired by XPLR, XPLR OpCo or such Subsidiary Guarantor at the time of its acquisition, *provided* that such Liens were not created in contemplation of such acquisition and do not extend to any assets other than the property so acquired;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Funded Debt recourse for which is limited to specific assets of XPLR, XPLR OpCo or such Subsidiary Guarantor created for the purpose of financing the acquisition, improvement or construction of the property subject to such Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the replacement, extension or renewal of any Lien permitted by clauses (a) through (c) above upon or in the same property theretofore subject thereto or the replacement, extension or renewal (without increase in the amount or change in the direct or indirect obligor) of the Indebtedness secured thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Liens upon or with respect to margin stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;to the extent constituting Liens on Indebtedness, the rights of the parties to the Cash Sweep and Credit Support Agreement and the Management Services Agreement to borrow cash from XPLR or any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Liens securing Funded Debt of XPLR OpCo or such Subsidiary Guarantor (including Indebtedness pursuant to the Existing Credit Agreement (including any secured Hedging Obligations)) that ranks no more senior in right of payment (irrespective of such Liens) than pari passu with the Notes; *provided* that, as of the date of incurrence of any such Funded Debt, and after giving effect thereto, the aggregate principal amount of all Funded Debt of XPLR OpCo or such Subsidiary Guarantor then-outstanding that is secured by Liens granted by XPLR OpCo or such Subsidiary Guarantor, or any of them, shall not exceed the greater of (i) $2.0 billion and (ii) the amount that would cause the OpCo Secured Leverage Ratio to exceed 4.0:1.0; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;any other Liens (other than Liens described in clauses (a) through (g) above), if the aggregate principal amount of the Indebtedness secured by all such Liens and security interests (without duplication) does not in the aggregate exceed at any one time outstanding the greater of (a) $10,000,000 and (b) 0.25% of Total Assets as of the end of the most recently completed Measurement Period (prior to the date such Liens were created);

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*provided* that the aggregate principal amount of the Indebtedness secured by the Liens described in clauses (a) through (c) above, inclusive, shall not exceed the greater of the aggregate fair value, the aggregate purchase price or the aggregate construction cost, as the case may be, of all properties subject to such Liens.

For the purposes hereof, "OpCo Secured Leverage Ratio" means, as of any date of determination, the ratio of (a) OpCo Funded Debt that is secured by Liens granted by XPLR OpCo and the Subsidiary Guarantors, or any of them, to (b) the XPLR OpCo Adjusted Covenant Cash Flow. Notwithstanding anything herein to the contrary, when calculating the OpCo Secured Leverage Ratio, the Swap Termination Value of all Swap Contracts of XPLR OpCo and the Subsidiary Guarantors then outstanding shall be excluded from the calculation of OpCo Funded Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;(a) The provisions of Sections 2.01, 2.04 and 2.05 of each Guarantor's Guarantee Agreement shall not apply to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of Sections 108, 1002, 1205 of the Indenture shall not apply to the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;The Notes will be initially issued in global form registered in the name of Cede & Co. (as nominee for The Depository Trust Company). The Notes in global form shall bear the depository legend in substantially the form thereof set forth in <u>Exhibit A</u> hereto. The Notes in global form will contain restrictions on transfer, substantially as described in the form thereof set forth in <u>Exhibit A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;No service charge shall be made for the registration of transfer or exchange of the Notes; *provided*, *however*, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with such exchange or transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;&nbsp;&nbsp;&nbsp;The Company has reserved the right, without any consent, vote or other action by Holders of the Notes, or of any other series of Securities issued on or after March 1, 2025, to amend the Indenture as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;To amend the second sentence of Section 402 thereof to read as follows:

"The Company shall, at least 20 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee in writing of such Redemption Date and of the principal amount of such Securities to be redeemed."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;To amend the first sentence of Section 404 thereof to read as follows:

"Except as otherwise specified as contemplated by Section 301 for Securities of any series, notice of redemption shall be given in the manner provided in Section 107 to the Holders of the Securities to be redeemed not less than 10 nor more than 60 days prior to the Redemption Date."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.&nbsp;&nbsp;&nbsp;&nbsp;The Notes shall have such other terms and provisions as are provided in the form thereof set forth in <u>Exhibit A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.&nbsp;&nbsp;&nbsp;&nbsp;The undersigned has read all of the covenants and conditions contained in the Indenture relating to the issuance of the Notes and the definitions in the Indenture relating thereto and in respect of which this certificate is made.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.&nbsp;&nbsp;&nbsp;&nbsp;The statements contained in this certificate are based upon the familiarity of the undersigned with the Indenture, the documents accompanying this certificate, and upon discussions by the undersigned with officers and employees of the Company familiar with the matters set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.&nbsp;&nbsp;&nbsp;&nbsp;In the opinion of the undersigned, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenants and conditions have been complied with.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.&nbsp;&nbsp;&nbsp;&nbsp;In the opinion of the undersigned, such conditions and covenants and conditions precedent, if any (including any covenants compliance with which constitutes a condition precedent), to the authentication and delivery of the Notes requested in the accompanying Company Order No. 6 have been complied with.

[*Signature Page Follows*]

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IN WITNESS WHEREOF, the Company has caused this Instrument to be duly executed this 21st day of November, 2025 in New York, New York.

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| | |
|:---|:---|
| XPLR INFRASTRUCTURE OPERATING<br>PARTNERS, LP | XPLR INFRASTRUCTURE OPERATING<br>PARTNERS, LP |
|  | By: XPLR Infrastructure Operating Partners GP,<br>LLC, its General Partner |
| By: | **ROBERT GORDON** |
| Name: | Robert S. Gordon |
| Title: | Treasurer |

---

[Signature Page to November 2025 Officer's Certificate]

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&nbsp;&nbsp;&nbsp;&nbsp;

**<u>Exhibit A</u>**

**FORM OF NOTES**

**NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")) OF XPLR INFRASTRUCTURE OPERATING PARTNERS, LP (THE "COMPANY") OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY DURING THE IMMEDIATELY PRECEDING THREE MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR HOLD THIS NOTE OR A BENEFICIAL INTEREST HEREIN.**

**UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.**

**THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED THIS NOTE, TO OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE ONLY (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY'S AND THE TRUSTEE'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO THE COMPANY.**

**[THIS NOTE IS A TEMPORARY GLOBAL NOTE. PRIOR TO THE EXPIRATION OF THE RESTRICTED PERIOD APPLICABLE HERETO, BENEFICIAL INTERESTS HEREIN MAY NOT BE HELD BY ANY PERSON OTHER THAN (1) A NON-U.S. PERSON OR (2) A U.S. PERSON THAT** 

&nbsp;&nbsp;&nbsp;&nbsp;A - 1&nbsp;&nbsp;&nbsp;&nbsp;

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**PURCHASED SUCH INTEREST IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT. BENEFICIAL INTERESTS HEREIN ARE NOT EXCHANGEABLE FOR PHYSICAL NOTES OTHER THAN A PERMANENT GLOBAL NOTE IN ACCORDANCE WITH THE TERMS OF THE INDENTURE. TERMS IN THIS LEGEND ARE USED AS USED IN REGULATION S UNDER THE SECURITIES ACT. UPON EXPIRATION OF THE RESTRICTED PERIOD APPLICABLE HERETO, THIS TEMPORARY GLOBAL NOTE SHALL BE DEEMED TO BECOME A PERMANENT GLOBAL NOTE AND, AS SUCH, THIS LEGEND SHALL BE OF NO FURTHER FORCE OR EFFECT AFTER SUCH TIME.]**

A - 2&nbsp;&nbsp;&nbsp;&nbsp;

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**[FORM OF FACE OF NOTE]**

**XPLR INFRASTRUCTURE OPERATING PARTNERS, LP**

**7.750% SENIOR NOTES DUE 2034**

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| | |
|:---|:---|
| **No. _______________** | **CUSIP No.: [ ]**<sup>1</sup> |
|  | **ISIN No.: [ ]**<sup>2</sup> |
| **[Initially $[ ]]** |  |

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XPLR INFRASTRUCTURE OPERATING PARTNERS, LP, a limited partnership duly organized and existing under the laws of the State of Delaware (herein referred to as the "**Company**", which term includes any successor Person under the Indenture (as defined below)), for value received, hereby promises to pay to [Cede & Co.] [ ], or registered assigns, the principal sum [of ____________________ Dollars][as set forth in the "Schedule of Exchanges of Notes" (attached hereto as Schedule A)] on April 15, 2034 (the "**Stated Maturity Date**"), and interest thereon as set forth below.

The Company further promises to pay interest on the principal sum of this 7.750% Senior Note due 2034 (this "**Note**") to the registered Holder hereof at the rate of 7.750% per annum, in like coin or currency, semi-annually in arrears on April 15 and October 15 of each year (each an "**Interest Payment Date**") until the principal hereof is paid or duly provided for or until earlier redemption or repurchase, such interest payments to commence on April 15, 2026. Each interest payment shall include interest accrued from the most-recently preceding Interest Payment Date to which interest has either been paid or duly provided for (*<u>except</u>* that (i) the interest payment which is due on April 15, 2026 shall include interest that has accrued from and including November 21, 2025 to but excluding the first Interest Payment Date, and (ii) if this Note is authenticated during the period that (A) follows any particular Regular Record Date (as defined below) but (B) precedes the next occurring Interest Payment Date, then the registered Holder hereof shall not be entitled to receive any interest payment with respect to this Note on such next occurring Interest Payment Date). No interest will accrue on the Note with respect to the day on which the Note matures. In the event that any Interest Payment Date is not a Business Day, then payment of interest, principal or premium payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of such delay) with the same force and effect as if made on the Interest Payment Date. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture referred to on the reverse of this Note (the "**Indenture**"), be payable to the Person in whose name this Note (or one or more Predecessor Note) is registered at the close of business on the "**Regular Record Date**" for such interest installment which shall be the close of business on the Business Day immediately preceding such Interest Payment Date so long as all of the Notes are held by a securities depository in book-entry-only form; *provided* that if any of the Notes are not held by a securities depository in book-entry-only form, the Regular Record Date will be the close of business on the fifteenth (15th) calendar day immediately preceding such Interest Payment Date; and *provided further* that interest payable on the Stated Maturity Date or any Redemption Date will be paid to the same Person to whom the associated principal is to be paid. Any such interest not punctually paid or duly provided for will forthwith cease to be payable to the Person who is the Holder of this Note on such Regular Record Date and may be paid to the Person in whose name this Note (or one or more Predecessor Note) is registered at the close of business on a Special Record Date to be fixed by the Trustee for the payment of such Defaulted Interest, notice of which shall be given to Holders not more than fifteen (15)

<sup>1</sup> (144A / Reg. S): 98379Y AA0 / U9841A AA6

<sup>2</sup> (144A / Reg. S): US98379YAA01 / USU9841AAA61

A - 3&nbsp;&nbsp;&nbsp;&nbsp;

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days nor less than ten (10) days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, and that the Trustee believes is acceptable, all as more fully provided in the Indenture.

Payment of the principal of (and premium, if any) and interest on the Notes will be made, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, at the office or agency of the Company designated by the Company for that purpose. Initially, the main Corporate Trust Office of The Bank of New York Mellon, as Paying Agent, in New York City, the State of New York will serve as such office. However, at the option of the Company, interest on this Note may be paid by check mailed to the address of the Person entitled thereto, as such address shall appear on the Register or by a wire transfer to an account designated by the Person entitled thereto.

The Company shall pay, or cause the Paying Agent to pay, the principal of and interest on this Note, so long as such Note is a Global Note, in immediately available funds to the Depositary or its nominee, as the case may be, in its capacity as the registered Holder of such Note.

The amount of interest payable on this Note will be computed on the basis of a 360-day year consisting of twelve 30-day months (and for any period shorter than a full semi-annual period, on the basis of the actual number of days elapsed during such period using 30-day calendar months).

Reference is hereby made to the further provisions of this Note set forth on the reverse of this Note, which further provisions shall for all purposes have the same effect as if set forth at this place. (All capitalized terms used in this Note which are not defined herein, including the reverse of this Note, but which are defined in the Indenture or in the Officer's Certificate shall have the meanings specified in the Indenture or in the Officer's Certificate.)

**This Note shall be governed by and construed in accordance with the laws of the State of New York.**

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse of this Note by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

[*Signature Page Follows*]

A - 4&nbsp;&nbsp;&nbsp;&nbsp;

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IN WITNESS WHEREOF, the Company has caused this Note to be duly executed.

XPLR INFRASTRUCTURE OPERATING PARTNERS, LP

By: XPLR Infrastructure Operating Partners GP, LLC, its General Partner

By:_______________________________________

Dated:

A - 5&nbsp;&nbsp;&nbsp;&nbsp;

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&nbsp;&nbsp;&nbsp;&nbsp;

**[FORM OF CERTIFICATE OF AUTHENTICATION]**

TRUSTEE'S CERTIFICATE OF AUTHENTICATION

THE BANK OF NEW YORK MELLON,

as Trustee, certifies that this is one of the Notes

described in the within-named Indenture.

By:_______________________________________

Authorized Signatory

Dated:

&nbsp;&nbsp;&nbsp;&nbsp;A - 6&nbsp;&nbsp;&nbsp;&nbsp;

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**[FORM OF REVERSE OF NOTE]**

This Note is one of a duly authorized issue of Notes of the Company, designated as its 7.750% Senior Notes due 2034 (the "**Notes**"), issued pursuant to an Indenture, dated as of September 25, 2017 (herein, together with any amendments thereto, called the "**Indenture**", which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon, as Trustee (herein called the "**Trustee**", which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture, including the Board Resolutions and Officer's Certificate filed with the Trustee on November 21, 2025 creating the Notes (herein called the "**Officer's Certificate**"), for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof.

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of and interest on the Notes may be declared due and payable in the manner and with the effect provided in the Indenture.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company, the rights and obligations of the Guarantors and the rights of the Holders at any time by the Company, the Guarantors and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time Outstanding. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by Holders of the specified percentages in principal amount of the Notes shall be bind all current and future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes, the Holders of a majority in aggregate principal amount of the Notes at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in aggregate principal amount of Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for sixty (60) days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any premium or interest hereon (including the Change of Control Repurchase Price, if applicable) on or after the respective due dates expressed herein.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay or deliver, as the case may be, the principal (including the Change of Control Repurchase Price, if applicable) of, accrued and unpaid interest on, this Note at the place, at the respective times, at the rate and in the lawful money herein prescribed.

The Notes are issuable in registered form without coupons in minimum denominations of $2,000 principal amount and integral multiples of $1,000 in excess thereof. As provided in the Indenture and

A - 7&nbsp;&nbsp;&nbsp;&nbsp;

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subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes and of like tenor and of authorized denominations, as requested by the Holder surrendering the same.

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith, and a Holder may be required, among other things, to furnish appropriate endorsements and transfer documents.

***Optional Redemption***

The Notes shall be redeemable at the option of the Company as set forth in this "Optional Redemption" section, and as set forth under "Redemption for Tax Credit Event" below, upon notice (the "**Redemption Notice**") sent at least thirty (30) days but not more than sixty (60) days prior to the applicable Redemption Date, at the applicable price (each a "**Redemption Price**") described below; *<u>provided</u>, <u>however</u>,* that the Company has reserved the right, without any consent, vote or other action by Holders of the Notes, or of any other series of Securities issued on or after March 1, 2025, to amend the Indenture to provide that the Redemption Notice shall be given in the manner provided in the Indenture at least ten (10) days but not more than sixty (60) days prior to the date fixed for redemption (the "**Redemption Date**"). Each initial and future Holder of any Securities issued under the Indenture after March 1, 2025, including the Notes, by its acquisition of an interest in such Securities issued under the indenture, irrevocably agrees and consents to the amendment of the Indenture described in this paragraph without any other or further action by any Holder of such Securities.

The consummation of an optional redemption shall be subject to the paying agent's receipt of the required redemption moneys on or before the applicable Redemption Date (and no such redemption shall occur unless such moneys have been received by the Trustee on or before such date). If at the time a Redemption Notice is given, the redemption moneys are not on deposit with the Trustee, then the redemption shall be subject to their receipt on or before the Redemption Date and such Redemption Notice shall be of no effect unless such moneys are received.

At any time prior to April 15, 2029, the Company may on any one or more occasions redeem all or a part of the Notes, upon a Redemption Notice, at a Redemption Price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to, but excluding, the Redemption Date, subject to the rights of Holders on the relevant Record Date to receive interest due on the relevant Interest Payment Date.

On or after April 15, 2029, the Company may on any one or more occasions redeem all or a part of the Notes at the following Redemption Prices (expressed as percentages of the principal amount), in each case together with accrued and unpaid interest, if any, to, but excluding, the Redemption Date (subject to the rights of holders of Notes on the relevant Record Date to receive interest due on the relevant Interest Payment Date), if redeemed during the 12-month period beginning April 15 of the years indicated below:

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Year** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Redemption Price** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 15, 2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103.875% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 15, 2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101.938% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 15, 2031 and thereafter | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.00000% |

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At any time prior to April 15, 2029, the Company may on any one or more occasions redeem up to 40% of the aggregate principal amount of the Notes issued under the Indenture, at a Redemption Price

A - 8&nbsp;&nbsp;&nbsp;&nbsp;

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equal to 107.750% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date, with an amount equal to the net cash proceeds of one or more equity offerings, subject to the rights of Holders of the Notes on the relevant Record Date to receive interest due on the relevant Interest Payment Date; *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;at least 50% of the original aggregate principal amount of the Notes (including any additional Notes) issued under the Indenture (excluding Notes held by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;the redemption occurs within 180 days of the date of the closing of such equity offering.

Upon payment of the applicable Redemption Price as described herein, on and after the applicable Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption.

Except pursuant to the preceding paragraphs and as set forth under "Redemption for Tax Credit Event" below, the Notes will not be redeemable at the Company's option prior to the Stated Maturity Date.

The Company and its affiliates are not prohibited, however, from acquiring Notes in market or private transactions by means other than a redemption, whether pursuant to a tender offer or otherwise, assuming such action does not otherwise violate the Indenture.

The Trustee shall not be responsible for determining the Redemption Price or the Applicable Premium with respect to any redemption of the Notes.

***Redemption for Tax Credit Event***

If a Tax Credit Event (as defined below) occurs, then the Company may at its option redeem, in whole, but not in part, the Notes, upon a Redemption Notice provided as set forth under "Optional Redemption," at a Redemption Price equal to 101% of their principal amount, together with accrued but unpaid interest, if any, thereon to but excluding the date fixed for redemption ("**Tax Credit Redemption Date**"). Unless the Company defaults in payment of the Redemption Price upon the surrender of Notes for redemption, on and after the Redemption Date, interest will cease to accrue on the Notes called for redemption.

The consummation of a redemption upon a Tax Credit Event shall be subject to the paying agent's receipt of the required redemption moneys on or before the Tax Credit Redemption Date (and no such redemption shall occur unless such moneys have been received by the Trustee on or before such date). If at the time a Redemption Notice is given, the redemption moneys are not on deposit with the Trustee, then the redemption shall be subject to their receipt on or before the Tax Credit Redemption Date and such notice shall be of no effect unless such moneys are received.

A "**Tax Credit Event**" occurs with respect to the Notes if, in the reasonable determination of the Company or Parent Guarantor, there exists a material risk, due to Notes (considered together with other debt) having been issued, as part of an original issuance, to one or more "specified foreign entities," as defined in Section 7701(a)(51)(B) of the Internal Revenue Code of 1986, as amended (the "Code"), that the Company, Parent Guarantor, XPLR US Holdings, or any of their respective affiliates would be unable to utilize or otherwise ineligible to claim any tax credits otherwise allowed under Section 38 of the Code.

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***Change of Control Triggering Event***

If a Change of Control Triggering Event occurs, the Company shall make an offer to purchase (each such offer, a "**Change of Control Offer**") all or any part (equal to $1,000 or an integral multiple of $1,000 in excess thereof) of the Outstanding Notes at a purchase price (the "**Change of Control Repurchase Price**") in cash equal to 101% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, if any, on the Notes to, but excluding, the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date. Within 30 days following any Change of Control Triggering Event, the Company will send a notice to each holder of Notes describing the transaction or transactions that constitute the Change of Control and offering to repurchase Notes on the date specified in the notice (the "**Change of Control Payment Date**"), which date will be no earlier than 30 days and no later than 60 days from the date such notice is sent, pursuant to the procedures required by the Indenture and described in such notice. The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent that those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions of the Indenture or this Note, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions of the Indenture or this Note by virtue of such compliance.

On the Change of Control Payment Date, the Company will, to the extent lawful:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;deposit with the Paying Agent an amount equal to the Change of Control Repurchase Price in respect of all Notes or portions of Notes properly tendered; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer's Certificate stating the aggregate principal amount of the Notes or portions of the Notes being purchased by the Company.

The Paying Agent will promptly send to each holder of Notes properly tendered the Change of Control Repurchase Price for the Notes, and the Trustee will promptly authenticate and send (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; *provided* that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.

The provisions described above that require the Company to make a Change of Control Offer following a Change of Control Triggering Event will be applicable whether or not any other provisions of the Indenture are applicable.

The Company will not be required to make a Change of Control Offer upon a Change of Control Triggering Event if: (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer; or (2) notice of redemption has been given pursuant to the Indenture unless and until there is a default in payment of the applicable redemption price. A Change of Control Offer may be made in advance of a Change of Control Triggering Event, with the obligation to pay and the timing of

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payment conditioned upon the occurrence of a Change of Control Triggering Event, if a definitive agreement to effect a Change of Control is in place at the time the Change of Control Offer is made.

***General***

The Notes will be absolutely and unconditionally guaranteed as to payment of principal, interest and premium, if any, by (i) XPLR Infrastructure, LP, as Parent Guarantor (the "**Parent Guarantor**"), pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the Parent Guarantor and The Bank of New York Mellon, as Parent Guarantee Trustee (the "**Parent Guarantee Trustee**") (as amended by the First Amendment to Parent Guarantee Agreement, dated as of June 27, 2019, between the Parent Guarantor and the Parent Guarantee Trustee, by the Second Amendment to Parent Guarantee Agreement, dated as of December 15, 2023, between the Parent Guarantor and the Parent Guarantee Trustee, and by the Third Amendment to Parent Guarantee Agreement, dated as of March 25, 2025, between the Parent Guarantor and the Parent Guarantee Trustee), and (ii) XPLR Infrastructure US Partners Holdings, LLC, as a Subsidiary Guarantor (the "**US Holdings Guarantor**"), pursuant to a Guarantee Agreement, dated as of September 25, 2017, between the US Holdings Guarantor and The Bank of New York Mellon, as Subsidiary Guarantee Trustee (the "**Subsidiary Guarantee Trustee**") (as amended by the First Amendment to US Holdings Guarantee Agreement, dated as of June 27, 2019, between the US Holdings Guarantor and the Subsidiary Guarantee Trustee, by the Second Amendment to US Holdings Guarantee Agreement, dated as of December 15, 2023, between the US Holdings Guarantor and the Subsidiary Guarantee Trustee, and by the Third Amendment to US Holdings Guarantee Agreement, dated as of March 25, 2025, between the US Holdings Guarantor and the Subsidiary Guarantee Trustee).

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Note upon compliance with certain conditions set forth in the Indenture, including the Officer's Certificate described above.

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the absolute owner hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary.

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ABBREVIATIONS

The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full according to applicable laws or regulations:

TEN COM = as tenants in common

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

CUST = Custodian

TEN ENT = as tenants by the entireties

JT TEN = joint tenants with right of survivorship and not as tenants in common

Additional abbreviations may also be used though not in the above list.

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**SCHEDULE A**<sup>5</sup>

SCHEDULE OF EXCHANGES OF NOTES

XPLR INFRASTRUCTURE OPERATING PARTNERS, LP

7.750% SENIOR NOTES DUE 2034

The initial principal amount of this Global Note is [ ] DOLLARS ($[ ]).

The following increases or decreases in this Global Note have been made:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Date of Exchange** | **Amount of <br>decrease in <br>principal amount <br>of this Global Note** | **Amount of increase<br>in principal<br>amount of this<br>Global Note** | **Principal amount <br>of this Global Note <br>following such <br>increase or decrease** | **Signature of <br>authorized <br>signatory of <br>Trustee or <br>Custodian** |

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___________________

<sup>5</sup>&nbsp;&nbsp;&nbsp;&nbsp;Include if a global note.

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**ATTACHMENT 1**

[FORM OF CHANGE OF CONTROL REPURCHASE NOTICE]

To: XPLR Infrastructure Operating Partners, LP

The undersigned registered owner of this Note hereby acknowledges receipt of a notice from XPLR Infrastructure Operating Partners, LP (the "**Company**") as to the occurrence of a Change of Control Triggering Event and specifying the Change of Control Payment Date and requests and instructs the Company to pay to the registered Holder hereof in accordance with the terms of the Indenture referred to in this Note and the terms of this Note (1) the entire principal amount of this Note, or the portion thereof (that is $1,000 principal amount or an integral multiple of $1,000 in excess thereof) below designated, and (2) if such Change of Control Payment Date does not fall during the period after a Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest, if any, thereon to, but excluding, such Change of Control Payment Date.

In the case of Certificated Notes, the certificate numbers of the Notes to be repurchased are as set forth below:

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| |
|:---|
| Signature(s) |
| Social Security or Other Taxpayer Identification Number |
| Principal amount to be repaid (if less than all): $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,000 |
| NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever. |

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**ATTACHMENT 2**

[FORM OF TRANSFER CERTIFICATE]

XPLR INFRASTRUCTURE OPERATING PARTNERS, LP

7.750% SENIOR NOTES DUE 2034

Transfer Certificate

For value received _________________________ hereby sell(s), assign(s) and transfer(s) unto _________________________ (Please insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes and appoints _________________________ attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises.

In connection with any transfer of the within Note, the undersigned confirms that such Note is being transferred:

To XPLR Infrastructure Operating Partners, LP; or

Pursuant to, and in accordance with, a registration statement that is effective under the Securities Act of 1933, as amended, at the time of such transfer; or

To a person that the undersigned reasonably believes to be a qualified institutional buyer in compliance with Rule 144A under the Securities Act of 1933, as amended; or

Pursuant to offers and sales to non-U.S. Persons that occur outside the United States within the meaning of Regulations S under the Securities Act; or

Pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

NOTICE: Additional information may be required as provided in the Indenture and the Note.

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| |
|:---|
| Dated: |
| Signature Guarantee |
| Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if Notes are to be delivered other than to and in the name of the registered holder. |

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NOTICE: The signature on the assignment must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

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