Document:

EX-4.1

 Exhibit 4.1 

ANGLOGOLD ASHANTI HOLDINGS PLC 

ANGLOGOLD ASHANTI LIMITED 

OFFICERS’ CERTIFICATE 

Officers’ Certificate pursuant to Section 301 of the Indenture 

(the “301 Officers’ Certificate”) 

3.750% Notes due 2030 
 Each of, Rob Hayes
and Simon Scott, duly appointed as a director of AngloGold Ashanti Holdings plc (the “Company”), pursuant to Section 301 of the indenture dated April 28, 2010 (the “Indenture”) among the Company, AngloGold
Ashanti Limited as guarantor (the “Guarantor”) and The Bank of New York Mellon as trustee (the “Trustee”) and pursuant to a resolution duly adopted by the Board of Directors of the Company on September 21, 2020
provided as Exhibit A hereto, whereby each director of the Company designated as an “Authorized Person” was authorized to do anything and to execute and deliver any document necessary, desirable or incidental to an offering of Notes
to be issued in one tranche with a maturity of 10 years from the date of issuance, HEREBY APPROVE AND CONFIRM that one series of Notes be established hereby, consisting of U.S.$700 million aggregate principal amount of 3.750% Notes due 2030
(the “Notes”). 
  

			
	Title:	  	3.750% Notes due 2030
		
	Principal Amount:	  	$700,000,000
		
	Currency:	  	U.S. dollar
		
	Stated Maturity:	  	October 1, 2030
		
	Issue Price:	  	99.678%
		
	Interest Rate:	  	3.750% per year
		
	Interest Payment Dates:	  	April 1 and October 1, commencing April 1, 2021
		
	Issue Date:	  	October 1, 2020
		
	Regular Record Dates:	  	March 15 and September 15 (whether or not a Business Day) immediately preceding the applicable interest payment date
		
	Guarantee:	  	The Notes will be fully and unconditionally guaranteed by the Guarantor as to the payment of principal of, premium, if any, and interest on the Notes, including any Additional Amounts.

  
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	Form:	  	The Notes will be issued in the form of one or more global notes, which will be executed and delivered in substantially the form attached hereto as Exhibit B in fully registered, book-entry form. The global notes will be deposited
with or on behalf of The Depository Trust Company (“DTC”) and registered in the name of Cede & Co., as nominee of DTC or such other name as may be requested by an authorized representative of DTC.
		
	Denominations:	  	The Notes will be issued in minimum denominations of $200,000 and in integral multiples of $1,000 in excess thereof.
		
	Place of Payment, Paying Agent:	  	 The Bank of New York Mellon
 240 Greenwich
Street
 New York, New York 10286
 United States of America

Attention: Global Corporate Trust

		
	Business Day:	  	Any day, other than a Saturday or Sunday, which is not, in New York City or London, United Kingdom, a legal holiday or a day on which banking institutions are authorized or obligated by law, regulation or executive order to
close.
		
	Notices and Demands:	  	 If to the Company:
  

AngloGold Ashanti Holdings plc
 4th Floor
 Communications House

South Street
 Staines-upon-Thames

TW18 4PR
 United Kingdom

Tel: +44 (0)203 968 3320
 Attention: The General
Manager

  
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		  	 If to the Guarantor:
  

AngloGold Ashanti Limited
 76 Rahima Moosa Street

Newtown, Johannesburg, 2001
 P.O. Box 62117, Marshalltown,
2107
 South Africa
 Tel: +27 (11) 637 6000

Attention: The Company Secretary

		
	Covenants:	  	The covenants set forth in the Indenture shall apply to the Notes.
		
		  	In connection with such covenants:
		
		  	 •  The percentage of Consolidated Net Tangible Assets not to be exceeded in
connection with the limitations on liens set forth in Section 1006 of the Indenture and the limitations on sale and leaseback transactions in Section 1007 of the Indenture shall be 10% and 10%, respectively.

		
		  	 •  The percentage of Consolidated Net Tangible Assets in excess of which a
property may be considered a “Principal Property”, as further described in the Indenture under the definition of “Principal Property”, shall be 5%.

		
		  	 •  The definition of “Principal Property” as used in the Indenture shall
be amended and supplemented, with respect to the Notes only, by deleting the phrase “in each case, and the net book value” and inserting in lieu thereof the phrase “in each case, the net book value”.

 
 •  The definition of
“Attributable Debt” as used in the Indenture shall be amended and supplemented, with respect to the Notes only, by inserting the parenthetical “(as determined in accordance with International Financial Reporting Standards
(“IFRS”) as issued by the International Accounting Standards Board (“IASB”), as in effect immediately prior to the adoption of IFRS 16—“Leases”)” following the term “operating lease”.

		
	Payment of Additional Amounts:	  	The Company or the Guarantor may be required to pay Holders Additional Amounts as set forth in Section 1005 of the Indenture and the form of the Notes attached hereto as Exhibit B.

  
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		  	In addition to the exceptions and limitations described in the Indenture, neither the Company nor the Guarantor shall be required to pay any Additional Amounts for or on account of any taxes required to be withheld or deducted under
Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended, or any amended or successor versions of such Sections (“FATCA”), any regulations or other guidance thereunder, or any agreement (including any
intergovernmental agreement) entered into in connection therewith, or any law, regulation or other official guidance enacted in any jurisdiction implementing FATCA or an intergovernmental agreement in respect of FATCA.
		
	Optional Tax Redemption:	  	In the event of certain tax law changes that require the Company or the Guarantor to pay Additional Amounts, and in other limited circumstances as described in the Indenture and the form of the Notes attached hereto as Exhibit
B, the Company or the Guarantor may redeem all, but not less than all, of the Notes prior to maturity.
		
		  	Notice of redemption shall be given in the manner provided for in the Indenture and the form of the Notes attached hereto as Exhibit B not less than 10 nor more than 60 days prior to the Redemption Date.
		
	Optional Redemption:	  	Prior to July 1, 2030, the Company or the Guarantor may redeem the Notes, in whole or in part, at any time and from time to time at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Notes to be
redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed if such Notes matured on July 1, 2030

  
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		  	(exclusive of interest accrued and unpaid to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus the Make-whole Spread, plus, in each case, accrued and unpaid interest thereon to, but not including, the Redemption Date.
		
		  	On or after July 1, 2030, the Company or the Guarantor may redeem the Notes, in whole or in part, at any time and from time to time at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed plus
accrued and unpaid interest thereon to, but not including, the Redemption Date.
		
		  	Further installments of interest on the Notes to be redeemed that are due and payable on the Interest Payment Dates falling on or prior to a Redemption Date shall be payable on the Interest Payment Date to the Holders as of the
close of business on the relevant Regular Record Date according to the Notes and the Indenture.
		
		  	In connection with such optional redemption, the following defined terms apply:
		
		  	“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated maturity (on a day count basis) of the Comparable Treasury
Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

  
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		  	“Comparable Treasury Issue” means the U.S. Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to
be redeemed (assuming, for this purpose, that the Notes mature on July 1, 2030) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a
comparable maturity to the remaining term of the Notes (assuming, for this purpose, that the Notes mature on July 1, 2030).
		
		  	“Comparable Treasury Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such
Reference Treasury Dealer Quotations, or (B) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.
		
		  	“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company.
		
		  	“Make-whole Spread” means 50 basis points.
		
		  	“Reference Treasury Dealer” means each of any four of BMO Capital Markets Corp., BNP Paribas, BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank AG, London Branch, J.P. Morgan Securities plc, RBC
Capital Markets, LLC and Scotia Capital (USA) Inc. or their respective affiliates, in each case that are primary U.S. Government securities dealers, selected by the Company, and their respective successors; provided, however, that if
any of the foregoing or their respective affiliates shall cease to be a primary U.S. Government securities dealer in New York City, the Company shall substitute therefor another such primary U.S. Government securities dealer.

  
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		  	“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York City time on the third business day preceding such Redemption Date.
		
		  	The Company will give notice to each Holder of Notes to be redeemed of any redemption the Company or the Guarantor proposes to make at least 10 days, but not more than 60 days, before the Redemption Date or request that the Trustee
send such notice of redemption to each Holder of Notes to be redeemed in the name of the Company and at its expense. If fewer than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected as set forth under “Selection
and Notice” below.
		
		  	Subject to the terms of the applicable notice of redemption, Notes called for redemption become due on the Redemption Date. Unless the Company or the Guarantor defaults in payment of the Redemption Price, on and after the Redemption
Date, interest will cease to accrue on the Notes or portions thereof called for redemption.
		
	Selection and Notice:	  	If less than all of the Notes are to be redeemed at any time, the Trustee will select the Notes for redemption in compliance with the requirements of the principal securities exchange, if any, on which the Notes are listed, as
certified to the Trustee by the

  
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		  	Company, and in compliance with the requirements of DTC, or if the Notes are not so listed or such exchange prescribes no method of selection and the Notes are not held through DTC or DTC prescribes no method of selection, on a
pro rata basis; provided, however, that no Note of $200,000 in aggregate principal amount or less shall be redeemed in part.
		
		  	If any Note is to be redeemed in part only, the notice of redemption that relates to that Note shall state the portion of the principal amount thereof to be redeemed, in which case a portion of the original Note will be issued in
the name of the Holder thereof upon cancelation of the original Note. In the case of a global note, an appropriate notation will be made on such Note to decrease the principal amount thereof to an amount equal to the unredeemed portion
thereof.
		
		  	At all times, for the purposes of the terms set forth in this 301 Officers’ Certificate and the Indenture, the terms relating to selection and notice of this 301 Officers’ Certificate will supersede the applicable terms of
Article Eleven of the Indenture to the extent inconsistent with such terms.
		
	Change of Control Repurchase Event:	  	In certain circumstances the Company may be required to make an offer to each Holder of Notes to repurchase all or any part of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of
Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the date of repurchase, as set forth in the form of the Notes attached hereto as Exhibit B.
		
	Consolidation, Merger, Conveyance or Transfer:	  	Neither the Company nor the Guarantor will consolidate with or merge into any other corporation or convey or transfer its properties and assets substantially as an entirety to any Person, unless certain conditions are met, as set
forth in the form of the Notes attached hereto as Exhibit B.

  
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	Sinking Fund:	  	The Notes will not be entitled to the benefit of a sinking fund.
		
	Further Issuance:	  	The Company may, without the consent of the Holders of the Notes, issue additional notes (the “Additional Notes”) having the same ranking and same interest rate, maturity date, redemption terms and other terms as
the Notes except for the price to the public and issue date; provided, however, that no Additional Notes may be issued unless they are fungible with the Notes for U.S. federal income tax purposes. Any Additional Notes, together
with the Notes, will constitute a single series of Securities under the Indenture. There is no limitation on the amount of the Notes or other debt securities that the Company may issue under the Indenture.
		
	Other Terms:	  	At all times, for the purposes of the covenants set forth in the Indenture, references in Section 1008 of the Indenture to (i) Section 301(14) will be deleted and replaced in its entirety by reference to Section 301(16) and (ii)
Section 301(15) will be deleted and replaced in their entirety by references to Section 301(17).
		
		  	The other terms of the Notes shall be substantially as set forth in the Indenture dated April 28, 2010 and the form of the Notes attached hereto as Exhibit B.

 For purposes of this 301 Officers’ Certificate, except as otherwise provided, all capitalized terms not defined herein
shall have the meaning provided in the Indenture. 
 All provisions in the form of the Notes attached hereto as Exhibit B which are specifically
referred to herein are hereby incorporated in and made a part of this 301 Officers’ Certificate as if set forth in full herein. 

  
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 IN WITNESS WHEREOF, each of the undersigned has executed this 301 Officers’ Certificate on the date and
in the capacity described herein. 
 Dated: October 1, 2020 
  

					
	ANGLOGOLD ASHANTI HOLDINGS PLC
		
	By:	 	/s/ Rob Hayes
		 	Name:	 	Rob Hayes
		 	Title:	 	Director
		
	By:	 	/s/ Simon Scott
		 	Name:	 	Simon Scott
		 	Title:	 	Director

  

  
 [Signature page –
Officers’ Certificate Pursuant to Section 301 of Indenture – AGAH] 

					
	ACKNOWLEDGED AND AGREED
	
	Dated: October 1, 2020
	
	ANGLOGOLD ASHANTI LIMITED
		
	By:	 	/s/ Kandimathie Christine Ramon
		 	Name:	 	Kandimathie Christine Ramon
		 	Title:	 	Executive Director and Interim Chief Executive Officer
		
	By:	 	/s/ Lizelle Marwick
		 	Name:	 	Lizelle Marwick
		 	Title:	 	Executive Vice President, General Counsel and Compliance and Interim Company Secretary

  

  
 [Signature page –
Officers’ Certificate Pursuant to Section 301 of Indenture – AGA] 

 Exhibit A 

  
 A-1 

 [Resolutions of Board of Directors] 

 

  
 A-2 

 EXHIBIT B 

FORM OF NOTE 
 [FACE OF GLOBAL
NOTE] 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR
A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF,
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 ANGLOGOLD ASHANTI HOLDINGS PLC 

3.750% Notes due 2030 
 Guaranteed
By 
 ANGLOGOLD ASHANTI LIMITED 
  

			
	No. 00[1]	  	$[•]
		  	CUSIP No. 03512TAE1
		  	ISIN No. US03512TAE10

 ANGLOGOLD ASHANTI HOLDINGS PLC, a company incorporated under the laws of the Isle of Man (herein called the
“Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $[•] on
October 1, 2030 and to pay interest thereon from October 1, 2020 or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, semi-annually in arrears on April 1 and
October 1 in each year, commencing April 1, 2021 (each, an “Interest Payment Date”), at the rate of 3.750% per annum, until principal hereof is paid or made available for payment. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note is registered at the close of business on March 15 and September 15 immediately preceding the
applicable Interest Payment Date, each, a “Regular Record Date” for such interest. Any such interest which is payable, but is not punctually paid or duly provided for, on such Interest Payment Date will forthwith cease to be payable
to such Holder on the relevant Regular Record Date by virtue of having been such Holder, and such defaulted interest and, if applicable, interest on such defaulted interest (to the extent lawful) at the rate specified in this Note may be paid by the
Company or the Guarantor, at its election, in each case, as provided in the Indenture. 
 Interest on this Note shall be computed on the
basis of a 360-day year of twelve 30-day months. 
 Payment
of the principal of, and interest, if any, on this Note will be made at the office or agency of the Company maintained for that purpose in New York City, 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. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee by manual signature of an authorized signatory, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed manually or
in facsimile. 
 Dated: October 1, 2020 
  

			
	ANGLOGOLD ASHANTI HOLDINGS PLC
		
	By:	 	 
		 	Name:
		 	Title: Director
		
	By:	 	 
		 	Name:
		 	Title: Director

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

Dated: October 1, 2020 

This is one of the Notes of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	 THE BANK OF NEW YORK MELLON, 

as Trustee

		
	By:	 	 
		 	Authorized Signatory

 FORM OF GUARANTEE 

For value received, ANGLOGOLD ASHANTI LIMITED, a corporation duly organized and existing under the laws of South Africa (herein called the
“Guarantor”, which term includes any successor Person under the Indenture (the “Indenture”) referred to in the Note on which this Guarantee is endorsed), has unconditionally guaranteed, pursuant to the terms of the
Guarantee contained in Article Sixteen of the Indenture, the due and punctual payment of the principal of and any premium and interest on such Note, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of
acceleration, call for redemption or otherwise, in accordance with the terms of such Note and the Indenture. 
 All payments pursuant to
this Guarantee shall be made without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of the Isle of Man, the United Kingdom
or South Africa or the jurisdiction of organization of any successor to the Company or the Guarantor, or any political subdivision or taxing authority thereof or therein, unless such taxes, duties, assessments or governmental charges are required by
the Isle of Man, the United Kingdom or South Africa or such other jurisdiction or any such subdivision or authority to be withheld or deducted. In that event, the Guarantor will pay such Additional Amounts as will result (after deduction of such
taxes, duties, assessments or governmental charges and any additional taxes, duties, assessments or governmental charges payable in respect of such) in the payment to the Holder of the Note on which this Guarantee is endorsed of the amounts which
would have been payable in respect of the Guarantee thereof had no such withholding or deduction been required, subject to certain exceptions as set forth in Article Ten of the Indenture. 

The obligations of the Guarantor to the Holders of the Notes and to the Trustee pursuant to the Guarantee and the Indenture are expressly set
forth in Article Sixteen of the Indenture, and reference is hereby made to such Article and Indenture, which includes the particular terms of the Note on which this Guarantee is endorsed established pursuant to Section 301 of the Indenture, for
the precise terms of the Guarantee. 
 The Guarantee shall not be valid or obligatory for any purpose until the certificate of
authentication on the Note upon which this Guarantee is endorsed shall have been executed by the Trustee under the Indenture by the manual signature of one of its authorized signatories. 

Capitalized terms used herein and not otherwise defined herein have the meanings specified in the Indenture. 

 IN WITNESS WHEREOF, the Guarantor has caused this instrument to be duly executed. 

Dated: October 1, 2020 
  

			
	ANGLOGOLD ASHANTI LIMITED
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

 [REVERSE OF GLOBAL NOTE] 

This Note is one of a duly authorized issue of Securities of the Company (herein called the “Note”), issued and to be issued
in one or more series under an indenture, dated as of April 28, 2010 (herein called the “Indenture” which term shall have the meaning assigned to it in such instrument), among the Company, AngloGold Ashanti Limited, as
guarantor (herein called the “Guarantor”, which term includes any successor Person under the Indenture) and The Bank of New York Mellon, as trustee (herein called the “Trustee”, which term includes any other
successor Trustee under the Indenture) and reference is hereby made to the Indenture and the Officers’ Certificate dated as of October 1, 2020 issued pursuant to Section 301 of the Indenture (herein called the “301
Officers’ Certificate”) for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantor, the Trustee, and the Holders of the Notes of this series and of the terms upon
which the Notes of this series are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate principal amount to U.S.$700,000,000. 

The Company may, without the consent of the Holders of the Notes of this series, issue additional notes of this series (the
“Additional Notes”) having the same ranking and same interest rate, maturity date, redemption terms and other terms as the Notes of this series except for the price to the public and issue date; provided, however,
that no Additional Notes may be issued unless they are fungible with the Notes of this series for U.S. federal income tax purposes. Any Additional Notes, together with the Notes of this series, will constitute a single series of Securities under
the Indenture. There is no limitation on the amount of Notes of this series or other debt securities that the Company may issue under the Indenture. 

The Notes of this series will constitute unsecured and unsubordinated indebtedness of the Company and will rank equally with all of its other
unsecured and unsubordinated indebtedness from time to time outstanding. 
 The Notes of this series are issuable only in registered form
without coupons in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof. The Notes of this series will initially be issued in the form of one or more global notes (each, a “Global Note”). Except as
provided in the Indenture, a Global Note shall not be exchangeable for one or more definitive Notes. 
 If an Event of Default with respect
to Notes of this series occurs and is continuing, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Notes of this series may declare the principal of all of the Notes of this series to be due and payable in the
manner and with the effect provided in the Indenture. 
 If an Event of Default with respect to Notes of this series occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of the Notes of this series and related coupons by such appropriate judicial proceedings as the Trustee shall deem most effectual
to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in the Indenture or in aid of the exercise of any power granted therein, or to enforce any other proper remedy. 

All payments of, or in respect of, principal of and any premium and interest on any Note of this series, and all payments pursuant to the
Guarantee, shall be made without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of the Isle of Man, the United Kingdom or
South Africa, any other jurisdiction where the Company or the Guarantor is tax resident or in which the Company does business, the government of a jurisdiction in which any successor to the Company or the Guarantor is organized or

 
tax resident or any political subdivision or taxing authority thereof or therein (a “Taxing Jurisdiction”), unless such taxes, duties, assessments or governmental charges are
required by such Taxing Jurisdiction to be withheld or deducted. In that event, the Company or the Guarantor, as applicable, will pay such additional amounts of, or in respect of, principal and any premium and interest (“Additional
Amounts”) as will result (after deduction of such taxes, duties, assessments or governmental charges and any additional taxes, duties, assessments or governmental charges payable in respect of such) in the payment to each Holder of Notes of
this series of the amounts which would have been payable in respect of such Notes or the Guarantee, as the case may be, had no such withholding or deduction been required, except that no Additional Amounts shall be so payable for or on account of:

 (1) any tax, duty, assessment or other governmental charge imposed by any jurisdiction other than a Taxing Jurisdiction (including the
United States or any political subdivision or taxing authority thereof or therein); 
 (2) any tax, duty, assessment or other governmental
charge which would not have been imposed but for (A) the existence of any present or former connection between such Holder or a third party on behalf of such Holder by reason of its (or between a fiduciary, settlor, beneficiary member,
shareholder or possessor of a power over such Holder, if such Holder is an estate, trust, partnership or corporation) having some present or former connection with a Taxing Jurisdiction (including being or having been a citizen or resident of a
Taxing Jurisdiction or being or having been engaged in a trade or business or present therein or having or having had a permanent establishment therein, but not including the mere holding or ownership of a debt security), or (B) the
presentation of such Note or the Guarantee thereof for payment more than 30 days after the date on which such payment became due or was provided for, whichever is later; 

(3) any estate, inheritance, gift, sale, transfer, personal property or similar tax, duty, assessment or other governmental charge; 

(4) any tax, duty, assessment or other governmental charge which is payable otherwise than by withholding or deduction from payments of (or in
respect of) principal of or any premium or interest on the Notes or the Guarantee thereof; 
 (5) any tax, duty, assessment or other
governmental charge that is imposed or withheld by reason of the failure to comply by the Holder or the beneficial owner of a Note with a request of the Company or the Guarantor addressed to the Holder (A) to provide information concerning the
nationality, residence or identity of the Holder or such beneficial owner or (B) to make any declaration or other similar claim or satisfy any information or reporting requirement, which, in the case of (A) or (B), is required or imposed
by statute, treaty, regulation or administrative practice of the Taxing Jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental charge; 

(6) any withholding or deduction that is imposed on a payment to an individual and required to be made pursuant to any European Union Directive
on the taxation of savings implementing the conclusions of the ECOFIN (European Union Economic and Finance Ministers) Counsel Meeting of 26 - 27 November 2000 or any law implementing or complying with or introduced in order to conform to such
Directive; 

 (7) any taxes required to be withheld or deducted under Sections 1471 through 1474 of the
U.S. Internal Revenue Code of 1986, as amended, or any amended or successor versions of such Sections (“FATCA”), any regulations or other guidance thereunder, or any agreement (including any intergovernmental agreement) entered into
in connection therewith, or any law, regulation or other official guidance enacted in any jurisdiction implementing FATCA or an intergovernmental agreement in respect of FATCA; or 

(8) any combination of items (1), (2), (3), (4), (5), (6) and (7). 

Additionally, Additional Amounts shall not be paid with respect to any payment in respect of any Note to any Holder who is a fiduciary or
partnership or other than the sole beneficial owner of such payment to the extent a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner would not have been entitled to such Additional Amounts
had it been the Holder of such Note. 
 References herein to the payment of the principal of or any premium or interest on, or in respect
of, any Note of this series (or any payments pursuant to the Guarantee thereof) such mention shall be deemed to include mention of the payment of Additional Amounts provided for herein to the extent that, in such context, Additional Amounts are,
were or would be payable in respect thereof pursuant to the provisions herein and express mention of the payment of Additional Amounts in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where
such express mention is not made. 
 The provisions herein shall apply mutatis mutandis to any withholding or deduction for or on
account of any present or future taxes, assessments or governmental charges of whatever nature of any jurisdiction in which any successor Person to the Company or the Guarantor is organized, or any political subdivision or taxing authority thereof
or therein. 
 The Notes of this series are redeemable at the option of the Company or the Guarantor (or their successors) in whole but not
in part at any time at a Redemption Price equal to the principal amount thereof plus accrued interest to the date fixed for redemption if, (i) the Company or the Guarantor is or would be required to pay Additional Amounts as a result of any
change in or amendment to the laws or any regulations or rulings promulgated thereunder of a Taxing Jurisdiction or any change in the official application or interpretation of such laws, regulations or rulings, or any change in the official
application or interpretation of, or any execution of or amendment to, any treaty or treaties affecting taxation to which a Taxing Jurisdiction is a party, which change, execution or amendment becomes effective on or after the date of issuance of
the Notes of this series on October 1, 2020 (or in the case of a successor Person to the Company or the Guarantor, the date on which such successor Person became such or in the case of an assumption by the Guarantor or its Subsidiaries of
obligations of the Company under the Notes of this series, the date of such assumption), or (ii) as a result of any change in the official application or interpretation of, or any execution of or amendment to, any treaty or treaties affecting
taxation to which a Taxing Jurisdiction is a party, which change, execution or amendment is proposed and becomes effective on or after a date on which the Guarantor or any of its Subsidiaries (an “Intercompany Debtor”) borrows money
from the Company, the Intercompany Debtor is or would be required to deduct or withhold tax on any payment to the Company to enable the Company to make any payment of principal, premium, if any, or interest, and the payment of such Additional
Amounts, in the case of clause (i), or such deductions or withholding, in the case of clause (ii), cannot be avoided by the use of any reasonable 

 
measures available to the Company, the Guarantor or the Intercompany Debtor. Prior to the giving of notice of such redemption, the Company will deliver to the Trustee an Officers’
Certificate, stating that the Company is entitled to effect such redemption and setting forth in reasonable detail a statement of circumstances showing that the conditions precedent to the right of the Company to redeem such Notes pursuant to the
Indenture have been satisfied. 
 Prior to July 1, 2030, the Company or the Guarantor may redeem the Notes of this series, in whole or
in part, at any time and from time to time at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Notes of this series to be redeemed and (2) the sum of the present values of the remaining scheduled payments of
principal and interest on the Notes of this series to be redeemed if such Notes matured on July 1, 2030 (exclusive of interest accrued and unpaid to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus the Make-whole Spread, plus, in each case, accrued and unpaid interest thereon to, but not
including, the Redemption Date. 
 On or after July 1, 2030, the Company or the Guarantor may redeem the Notes of this series, in whole
or in part, at any time and from time to time at a Redemption Price equal to 100% of the principal amount of the Notes of this series to be redeemed plus accrued and unpaid interest thereon to, but not including, the Redemption Date. 

Further installments of interest on the Notes of this series to be redeemed that are due and payable on the Interest Payment Dates falling on
or prior to a Redemption Date shall be payable on the Interest Payment Date to the Holders as of the close of business on the relevant Regular Record Date according to the Notes of this series and the Indenture. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent
yield to maturity or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date. 
 “Comparable Treasury Issue” means the U.S. Treasury security or securities selected by an
Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes of this series to be redeemed (assuming, for this purpose, that the Notes of this series mature on July 1, 2030) that would
be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the Notes of this series (assuming, for this purpose,
that the Notes of this series mature on July 1, 2030). 
 “Comparable Treasury Price” means, with respect to any
Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Company obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one of
the Reference Treasury Dealers appointed by the Company. 
 “Make-whole Spread” means 50 basis points. 

 “Reference Treasury Dealer” means each of any four of BMO Capital Markets
Corp., BNP Paribas, BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank AG, London Branch, J.P. Morgan Securities plc, RBC Capital Markets, LLC and Scotia Capital (USA) Inc. or their respective affiliates, in each case that are
primary U.S. Government securities dealers, selected by the Company, and their respective successors; provided, however, that if any of the foregoing or their respective affiliates shall cease to be a primary U.S. Government securities
dealer in New York City, the Company shall substitute therefor another such primary U.S. Government securities dealer. 
 “Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York City time on the third business day preceding such Redemption Date. 

The Company will give notice to each Holder of Notes of this series to be redeemed of any redemption the Company or the Guarantor proposes to
make at least 10 days, but not more than 60 days, before the Redemption Date or request that the Trustee send such notice of redemption to each Holder of Notes of this series to be redeemed in the name of the Company and at its expense. If fewer
than all of the Notes of this series are to be redeemed, the Notes of this series to be redeemed shall be selected as set forth below. 

Subject to the terms of the applicable notice of redemption, Notes of this series called for redemption become due on the Redemption Date.
Unless the Company or the Guarantor defaults in payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Notes of this series or portions thereof called for redemption. 

If less than all of the Notes of this series are to be redeemed at any time, the Trustee will select the Notes of this series for redemption
in compliance with the requirements of the principal securities exchange, if any, on which the Notes of this series are listed, as certified to the Trustee by the Company, and in compliance with the requirements of The Depository Trust Company
(“DTC”), or if the Notes of this series are not so listed or such exchange prescribes no method of selection and the Notes of this series are not held through DTC or DTC prescribes no method of selection, on a pro rata basis;
provided, however, that no Note of this series of $200,000 in aggregate principal amount or less shall be redeemed in part. 

If any Note of this series is to be redeemed in part only, the notice of redemption that relates to that Note shall state the portion of the
principal amount thereof to be redeemed, in which case a portion of the original Note will be issued in the name of the Holder thereof upon cancelation of the original Note. In the case of a Global Note, an appropriate notation will be made on such
Note to decrease the principal amount thereof to an amount equal to the unredeemed portion thereof. 
 At all times, for the purposes of the
terms set forth in the 301 Officers’ Certificate, this Note and the Indenture, the terms relating to selection and notice of the 301 Officers’ Certificate and this Note will supersede the applicable terms of Article Eleven of the Indenture
to the extent inconsistent with such terms. 

 If a Change of Control Repurchase Event occurs in respect of the Notes of this series,
unless either the Company or the Guarantor has exercised its right to redeem the Notes of this series as described above, the Company will be required to make an offer to each Holder of Notes of this series to repurchase all or any part (in minimal
denominations of $200,000 and integral multiples of $1,000 in excess thereof) of that Holder’s Notes of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes of this series repurchased plus any
accrued and unpaid interest on the Notes of this series repurchased to, but not including, the date of repurchase. Within 30 days following any Change of Control Repurchase Event or, at the option of the Company, prior to any Change of Control, but
after the public announcement of the proposed Change of Control, the Company will mail a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase
Event and offering to repurchase the Notes of this series on the payment date specified in the notice, which date will be no earlier than 10 days and no later than 60 days from the date such notice is mailed, other than as may be required by law.
The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on a Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice.
Holders of Notes of this series electing to have their Notes of this series purchased pursuant to a Change of Control Repurchase Event offer will be required to surrender their Notes of this series, with the form entitled “Option of Holder to
Elect Purchase” on the reverse of this Note completed, to the Paying Agent at the address specified in the notice, or transfer their Notes of this series to the Paying Agent by book-entry transfer pursuant to the applicable procedures of the
Paying Agent, prior to the close of business on the third business day prior to the repurchase payment date. The Company will comply with the requirements of Rule 14e-1 under the U.S. Securities Exchange Act
of 1934, as amended (the “Securities Exchange Act”) and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes of this series as a
result of a Change of Control Repurchase Event. To the extent that the provisions of any applicable securities or corporate laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes of this series, the Company
will comply with the applicable securities or corporate laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes of this series by virtue of such conflict. 

On the repurchase date following a Change of Control Repurchase Event, the Company will, to the extent lawful: 

(1) accept for payment all Notes of this series or portions of the Notes of this series properly tendered pursuant to its offer; 

(2) deposit with the Paying Agent an amount equal to the aggregate purchase price in respect of all the Notes of this series or portions of the
Notes of this series properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Notes of this series properly
accepted, together with an Officers’ Certificate stating the aggregate principal amount of Notes of this series being purchased by the Company. 

The Paying Agent will promptly mail to each Holder of Notes of this series properly tendered the purchase price for the Notes of this series
(or make payment through the Depositary), and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note of this series equal in principal amount to any unpurchased portion of any Notes of
this series surrendered; provided, however, that each new Note of this series will be in a minimum principal amount of $200,000 and integral multiples of $1,000 in excess thereof. 

 The Company will not be required to make an offer to repurchase the Notes of this series
issued by it upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes of
this series properly tendered and not withdrawn under its offer. 
 “Change of Control” means the occurrence of any of the
following: 
 (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger, scheme of
arrangement, amalgamation or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Guarantor and its subsidiaries taken as a whole to any “person” (as that term is used in
Section 13(d)(3) of the Securities Exchange Act) other than to the Guarantor, a Qualified Holding Company and/or one of their respective subsidiaries; 

(2) the consummation of any transaction (including, without limitation, any merger, scheme of arrangement, amalgamation or consolidation) the
result of which is that any “person” (as that term is used in Section 13(d)(3) of the Securities Exchange Act) (other than a subsidiary of the Guarantor) becomes the beneficial owner (as defined in Rules
13d-3 and 13d-5 under the Securities Exchange Act), directly or indirectly, of more than 50% of the combined voting power of the Guarantor’s Voting Stock or other
Voting Stock into which the Guarantor’s Voting Stock is reclassified, consolidated, exchanged or changed measured by voting power rather than number of shares; or 

(3) the Guarantor consolidates with, or merges with or into, or enters into a scheme of arrangement with or amalgamates with, any
“person” (as that term is used in Section 13(d)(3) of the Securities Exchange Act), or any person consolidates with, or merges with or into, or enters into a plan or arrangement with, the Guarantor, in any such event pursuant to a
transaction in which any of the outstanding Voting Stock of the Guarantor or such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Voting Stock of the
Guarantor outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving person immediately after
giving effect to such transaction. 
 Notwithstanding the foregoing, a Permitted Reorganization shall be deemed not to involve a Change of
Control. 
 “Change of Control Repurchase Event” means the circumstance where each of the Rating Agencies has reduced its
rating of the Notes of this series by one or more gradations (including gradations within rating categories as well as between rating categories) on any date during the 60-day period (which period shall be
extended so long as the rating of this series of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) (the “Trigger Period”) after the earlier of (1) the occurrence of a
Change of Control; and (2) public notice of the intention by the Guarantor to effect a Change of Control; provided, however, that a Change of Control Repurchase Event shall be deemed not to have occurred if (A) a Rating
Agency that has reduced its rating of the Notes of this series by one or more gradations (including gradations within rating categories as well as between rating categories) during the Trigger Period does not announce or publicly confirm or inform
the Trustee in writing at the Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised from or arising as a result of the applicable Change of Control (regardless of whether that Change of
Control shall then have occurred) or (B) a rating of the Notes of this series by one of the Rating Agencies is within the Trigger Period subsequently 

 
upgraded to a credit rating gradation not less than that at the commencement of such 60-day period. Notwithstanding the foregoing, a Change of Control
Repurchase Event will be deemed not to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated. Any change in the outlook of a rating will not constitute a change in
gradation. 
 “Fitch” means Fitch Ratings, Inc. and its successors. 

“Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors. 

“Permitted Reorganization” means a transaction or a series of related transactions in which (1) the Guarantor becomes a
direct or indirect wholly-owned subsidiary of a holding company and (2)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the
Guarantor’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction, no “person” (as that term is used in Section 13(d)(3) of the Securities Exchange Act) (other than a holding
company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. 

“Qualified Holding Company” means a holding company of which the Guarantor becomes a direct or indirect wholly-owned
subsidiary pursuant to a Permitted Reorganization, and its successors and assigns. 
 “Rating Agency” means each of Fitch,
Moody’s and S&P; provided, however, that if any of Fitch, Moody’s or S&P ceases to rate the Notes of this series or fails to make a rating of the Notes of this series publicly available for reasons outside of the
Guarantor’s control, the Guarantor may select (as certified by a resolution of the Guarantor’s board of directors) a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the
Securities Exchange Act, as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its
successors. 
 “Voting Stock” of any specified “person” (as that term is used in Section 13(d)(3) of the
Securities Exchange Act) as of any date means the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

Neither the Company nor the Guarantor shall consolidate with or merge into any other corporation or convey or transfer its properties and
assets substantially as an entirety to any Person, unless: 
 (1) either the Company or the Guarantor shall be the continuing corporation, or
the corporation formed by such consolidation or into which the Company or the Guarantor is merged or the Person which acquires by conveyance or transfer the properties and assets of the Company or the Guarantor substantially as an entirety (or in
the case of any conveyance or transfer of the properties and assets of the Guarantor substantially as an entirety to a Qualified Holding Company and/or any direct or indirect wholly-owned subsidiary of a Qualified Holding Company in connection with
a Permitted 

 
Reorganization, such Qualified Holding Company) shall expressly assume, by a supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee acting reasonably,
in the case of the Company, the due and punctual payment of the principal of (and premium, if any) and interest, if any, on all the Notes and the performance of every covenant of the Indenture on the part of the Company to be performed or observed,
and, in the case of the Guarantor, the due and punctual performance of the Guarantee and the performance or observance of every covenant of the Indenture on the part of the Guarantor to be performed or observed; 

(2) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing; and 

(3) the Company or such Person shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, conveyance or transfer and such supplemental indenture comply with these provisions and that all conditions precedent provided for in the Indenture relating to such transaction have been complied with. 

The above paragraph shall only apply to a merger or consolidation in which the Company or the Guarantor, as the case may be, is not the
surviving corporation and to conveyances and transfers by the Company or the Guarantor, as the case may be, as transferor. 
 Upon any
consolidation or merger, or any conveyance or transfer of the properties and assets of the Company or the Guarantor, as the case may be, substantially as an entirety to any Person in accordance with the preceding paragraphs, the successor Person
formed by such consolidation or into which the Company or the Guarantor is merged or to which such conveyance or transfer is made (or in the case of any such conveyance or transfer to a Qualified Holding Company and/or any direct or indirect
wholly-owned subsidiary of a Qualified Holding Company in connection with a Permitted Reorganization, such Qualified Holding Company) shall succeed to, and be substituted for, and may exercise every right and power of, the Company or the Guarantor
under the Indenture with the same effect as if such successor Person had been named as the Company or the Guarantor, as the case may be, in the Indenture; and in the event of any such conveyance or transfer, the Company or the Guarantor, as the case
may be, shall be discharged from all obligations and covenants under the Indenture and the Notes and the coupons, or the Guarantee, as the case may be, and may be dissolved and liquidated. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness on this Note upon compliance by the Company with
certain conditions set forth thereon, which provisions apply to this Note. 
 The Indenture permits, with certain exceptions as therein
provided, the amendment thereof and the modification of the rights and obligations of the Company or the Guarantor and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount
of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such series to waive compliance by the Company or the Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all 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 set forth in, and subject to, the provisions of the Indenture, no Holder of any Note of
this series or any related coupon shall have any right to institute any proceeding, judicial or otherwise, with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such Holder
has previously given written notice to the Trustee of a continuing Event of Default with respect to the Notes of this series; (ii) the Holders of not less than 25% in principal amount of the Outstanding Notes of this series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee; (iii) such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee against the costs,
expenses and liabilities to be incurred in compliance with such request; (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and (v) no direction
inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Notes of this series; it being understood and
intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of the Indenture to affect, disturb or prejudice the rights of any other such Holders, or to obtain or to seek to
obtain priority or preference over any other of such Holders or to enforce any right under the Indenture, except in the manner provided in the Indenture and for the equal and ratable benefit of all such Holders of Notes of this series. 

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, or
the Guarantor which is absolute and unconditional, to pay the principal of, and interest, if any, on this Note at the time, place and rate, and in the coin or currency, herein prescribed or to convert this Note as provided in the Indenture. 

No service charge shall be made for any registration of transfer or exchange of Notes of this series, but the Company, the Guarantor, or the
Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith, as provided in the Indenture. 

Prior to due presentation of this Note for registration of transfer, the Company, the Guarantor, the Trustee and any agent of the Company, the
Guarantor or the Trustee, may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Guarantor, the Trustee, or any such agent shall be affected
by notice to the contrary. None of the Company, the Guarantor, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial
ownership interests of a Note in global form or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. Nothing shall prevent the Company, the Guarantor, the Trustee or any agent of the Company, the
Guarantor or the Trustee, from giving effect to any written certification, proxy or other authorization furnished by any depositary, as a Holder, with respect to such Global Note or impair, as between such depositary and owners of beneficial
interests in such Global Note, the operation of customary practices governing the exercise of the rights of such depositary (or its nominee) as Holder of such Global Note. 

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

Unless otherwise defined herein, all terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in
the Indenture or the 301 Officers’ Certificate. To the extent any provision of this Note conflicts with the express provisions of the Indenture (except as otherwise specified in the 301 Officers’ Certificate), the provisions of the
Indenture shall govern and be controlling. 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to the Change of Control Repurchase Event provisions of this Note,
check the following box: 
 ☐ Purchase pursuant to Change of Control Repurchase Event 

If you want to elect to have only part of this Note purchased by the Company pursuant to the Change of Control Repurchase Event provisions of
this Note, state the amount: 
  

					
	$
                                         
   	  	
		
	Date:
                                     	  	Your Signature:
                                         
           
		  	(Sign exactly as your name appears on the other side of the Note)
		
		 	Signature Guarantee:
                                         
                                         
                                         
                             
		 	 Signature must be guaranteed by a participant in a recognized signature guarantee medallion program or
other signature guarantor acceptable to the Trustee.

 SCHEDULE OF PRINCIPAL AMOUNT 

The initial principal amount of this Note shall be $[•]. The following decreases/increases in the principal amount of this Note have been
made: 
  

											
	 	  	 Date of

Decrease/Increase
	  	 Decrease

in Principal

Amount
	  	 Increase

in Principal

Amount
	  	 Total

Principal
 Amount

Following such

Decrease/Increase
	  	 Notation

Made by or on
 Behalf of
TrusteeEX-4.(a)

 Exhibit 4(a) 
  

 
  

PPL ELECTRIC UTILITIES CORPORATION 

TO 
 THE BANK OF NEW
YORK MELLON 
 Trustee and Calculation Agent 
  

 
 Supplemental
Indenture No. 22 
 Dated as of September 15, 2020 

 
  

Supplemental to the Indenture 

dated as of August 1, 2001 
  

 
 Establishing
Terms of 
 First Mortgage Bonds, Floating Rate Series due 2023 

 
  

 

 SUPPLEMENTAL INDENTURE NO. 22 

SUPPLEMENTAL INDENTURE No. 22 dated as of September 15, 2020, made and entered into by and between PPL ELECTRIC UTILITIES
CORPORATION, a corporation of the Commonwealth of Pennsylvania, having its principal corporate offices at Two North Ninth Street, Allentown, Pennsylvania 18101 (hereinafter sometimes called the “Company”), and THE BANK OF NEW YORK MELLON,
a New York banking corporation, having its corporate trust office at 240 Greenwich Street, 7th Floor, New York, New York 10286 (hereinafter sometimes called the “Trustee”), as Trustee
under the Indenture, dated as of August 1, 2001 (hereinafter called the “Original Indenture”), this Supplemental Indenture No. 22 being supplemental thereto, and as Calculation Agent hereunder with respect to the Securities
herein described. The Original Indenture and any and all indentures and instruments supplemental thereto are hereinafter sometimes collectively called the “Indenture.” 

RECITALS OF THE COMPANY 
 The Original Indenture
was authorized, executed and delivered by the Company to provide for the issuance from time to time of its Securities (such term and all other capitalized terms used herein without definition having the meanings assigned to them in the Original
Indenture), to be issued in one or more series as contemplated therein, and to provide security for the payment of the principal of and premium, if any, and interest, if any, on such Securities. 

The Company has heretofore executed and delivered to the Trustee Supplemental Indentures for the purposes recited therein and for the purpose of creating
series of Securities as set forth in Schedule A hereto. 
 Pursuant to Article Three of the Original Indenture, the Company wishes to establish a
Twenty-Fourth series of Securities, such series of Securities to be hereinafter sometimes called “Securities of the Twenty-Fourth Series.” 

Pursuant to clauses (d) and (f) of Section 1301 and clause (g) of Section 301 of the Original Indenture, the Company wishes to modify the
period during which notices of redemption may be sent with respect to the Securities of the Twenty-Fourth Series. 
 As contemplated in Section 301 of
the Original Indenture, the Company further wishes to establish the designation and certain terms of the Securities of the Twenty-Fourth Series. The Company has duly authorized the execution and delivery of this Supplemental Indenture No. 22 to
establish the designation and certain terms of the Securities of the Twenty-Fourth Series and has duly authorized the issuance of such Securities; and all acts necessary to make this Supplemental Indenture No. 22 a valid agreement of the
Company, and to make the Securities of the Twenty-Fourth Series valid obligations of the Company, have been performed. 
 NOW, THEREFORE, THIS SUPPLEMENTAL
INDENTURE NO. 22 WITNESSETH, that, for and in consideration of the premises and of the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of the Holders of the Securities
of the Twenty-Fourth Series, as follows: 
 ARTICLE ONE 

TWENTY-FOURTH SERIES OF SECURITIES 

SECTION 101.    There is hereby created a series of Securities designated “First Mortgage
Bonds, Floating Rate Series due 2023,” and the Securities of such series shall have the terms provided therefor in this Article One of this Supplemental Indenture No. 22, shall be limited in aggregate principal

 
amount (except as contemplated in Section 301(b) of the Original Indenture) to $250,000,000, and shall have such terms as are hereby established for such Securities of the Twenty-Fourth
Series as contemplated in Section 301 of the Original Indenture. The form or forms and additional terms of the Securities of the Twenty-Fourth Series shall be established in an Officer’s Certificate of the Company, as contemplated by
Section 201 of the Original Indenture. 
 SECTION 102.    Covenants. So long as
any Securities of the Twenty-Fourth Series shall remain Outstanding, the following shall be an additional covenant of the Company under the Indenture: So long as any Securities of the Twenty-Fourth Series shall remain Outstanding, the Company shall
not cause or permit the Release Date to be established, as contemplated in Section 1811 of the Original Indenture. 

SECTION 103.    Amendment. With respect to the Securities of the Twenty-Fourth Series,
notwithstanding the first sentence of Section 504 of the Original Indenture, notice of redemption of the Securities of the Twenty-Fourth Series shall be given in the manner provided in Section 109 of the Original Indenture to the Holders
of such Securities to be redeemed not less than 10 nor more than 60 days prior to the Redemption Date. 

SECTION 104.    Satisfaction and Discharge. The Company hereby agrees that, if the
Company shall make any deposit of money and/or Eligible Obligations with respect to any Securities of the Twenty-Fourth Series, or any portion of the principal amount thereof, as contemplated by Section 801 of the Indenture, the Company shall
not deliver an Officer’s Certificate described in clause (z) in the first paragraph of said Section 801 unless the Company shall also deliver to the Trustee, together with such Officer’s Certificate, either: 

(a) an instrument wherein the Company, notwithstanding the satisfaction and discharge of its indebtedness in respect of such Securities, shall
retain the obligation (which shall be absolute and unconditional) irrevocably to deposit with the Trustee or Paying Agent such additional sums of money, if any, or additional Eligible Obligations (meeting the requirements of Section 801), if
any, or any combination thereof, at such time or times, as shall be necessary, together with the money and/or Eligible Obligations theretofore so deposited, to pay when due the principal of and premium, if any, and interest due and to become due on
such Securities or portions thereof, all in accordance with and subject to the provisions of said Section 801; provided, however, that such instrument may state that the obligation of the Company to make additional deposits as aforesaid shall
be subject to the delivery to the Company by the Trustee of a notice asserting the deficiency accompanied by an opinion of an independent public accountant of nationally recognized standing, selected by the Trustee, showing the calculation thereof
(which opinion shall be obtained at the expense of the Company); or 
 (b) an Opinion of Counsel to the effect that the Holders of such
Securities, or portions of the principal amount thereof, will not recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and
will be subject to United States federal income tax on the same amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effected. 

ARTICLE TWO 

CALCULATION AGENT FOR THE SECURITIES OF THE TWENTY-FOURTH SERIES 

SECTION 201.    Appointment. Upon the terms and subject to the conditions contained
herein, the Company hereby appoints The Bank of New York Mellon as the Company’s calculation agent for the Securities of the Twenty-Fourth Series (the “Calculation Agent”) and The Bank of New York Mellon hereby accepts such
appointment as the Company’s agent for the purpose of calculating the applicable interest rates on the Securities of the Twenty-Fourth Series in accordance with the provisions set forth herein. 

 SECTION 202.    Duties and Obligations.
The Calculation Agent shall: (a) calculate the applicable interest rates on the Securities of the Twenty-Fourth Series in accordance with the provisions thereof and the provisions set forth herein and in the Officer’s Certificate referred
to in Section 101, and (b) exercise due care to determine the interest rates on the Securities of the Twenty-Fourth Series and shall communicate the same to the Company and the Trustee (if the Trustee is not then serving as the Calculation
Agent) as soon as practicable after each determination. 
 The Calculation Agent will, upon the written request of a Holder of the
Securities of the Twenty-Fourth Series, provide to such Holder the interest rate in effect on the date of such request and, if determined, the interest rate for the next Interest Period (as defined in the Officer’s Certificate referred to in
Section 101). 
 SECTION 203.    Terms and Conditions. The Calculation Agent
accepts its obligations set forth herein, upon the terms and subject to the conditions hereof, including the following, to all of which the Company agrees: 

(a) The Calculation Agent shall be entitled to such compensation as may be agreed upon with the Company for all services rendered by the
Calculation Agent, and the Company promises to pay such compensation and to reimburse the Calculation Agent for the reasonable out-of-pocket expenses (including
attorneys’ fees and expenses) incurred by it in connection with the services rendered by it hereunder upon receipt of such invoices as the Company shall reasonably require. The Company also agrees to indemnify the Calculation Agent for, and to
hold it harmless against, any and all loss, liability, damage, claim or expense (including the costs and expenses of defending against any claim (regardless of who asserts such claim) of liability) incurred by the Calculation Agent that arises out
of or in connection with its accepting appointment as, or acting as, Calculation Agent hereunder, except such as may result from the willful misconduct or gross negligence of the Calculation Agent or any of its agents or employees. Except as
provided in the preceding sentence, the Calculation Agent shall incur no liability and shall be indemnified and held harmless by the Company for, or in respect of, any actions taken, omitted to be taken or suffered to be taken in good faith by the
Calculation Agent in reliance upon (i) the opinion or advice of counsel or (ii) written instructions from the Company. The Calculation Agent shall not be liable for any error resulting from the use of or reliance on a source of information
used in good faith and with due care to calculate any interest rate hereunder. The provisions of this clause (a) shall survive the payment in full of the Securities of the Twenty-Fourth Series and the resignation or removal of the Calculation
Agent. 
 (b) In acting under this Supplemental Indenture No. 22, the Calculation Agent is acting solely as agent of the Company and
does not assume any obligations to or relationship of agency or trust for or with any of the beneficial owners or Holders of the Securities of the Twenty-Fourth Series. 

(c) The Calculation Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted to be taken or
anything suffered by it in reliance upon the terms of the Securities of the Twenty-Fourth Series or this Supplemental Indenture No. 22 or any notice, direction, certificate, affidavit, statement or other paper, document or communication
reasonably believed by it to be genuine and to have been approved or signed by the proper party or parties. 
 (d) The Calculation Agent,
its officers, directors, employees and shareholders may become the owners or pledgee of, or acquire any interest in, any Securities of the Twenty-Fourth Series, with the same rights that it or they would have if it were not the Calculation Agent,
and may engage or be interested in any financial or other transaction with the Company as freely as if it were not the Calculation Agent. 

 (e) Neither the Calculation Agent nor its officers, directors, employees, agents or
attorneys shall be liable to the Company for any act or omission hereunder, or for any error of judgment made in good faith by it or them, except in the case of its or their willful misconduct or gross negligence. 

(f) The Calculation Agent may consult with counsel of its selection and the advice of such counsel or any opinion of such counsel shall be
full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(g) The Calculation Agent shall be obligated to perform such duties and only such duties as are specifically set forth herein and in the
Officer’s Certificate referred to in Section 101 and in the Securities of the Twenty-Fourth Series, and no implied duties or obligations shall be read into this Supplemental Indenture No. 22 against the Calculation Agent. 

(h) Unless herein otherwise specifically provided, any order, certificate, notice, request, direction or other communication from the Company
made or given by it under any provision of this Supplemental Indenture No. 22 shall be sufficient if signed by any officer of the Company. 

(i) The Calculation Agent may perform any duties hereunder either directly or by or through its agents or attorneys, and the Calculation Agent
shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 

(j) The Company will not, without first obtaining the prior written consent of the Calculation Agent, make any change to this Supplemental
Indenture No. 22 or the Securities of the Twenty-Fourth Series if such change would materially and adversely affect the Calculation Agent’s duties and obligations hereunder or thereunder. 

(k) In no event shall the Calculation Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether it has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(l) In no event shall the Calculation Agent be responsible or liable for any failure or delay in the performance of its obligations under this
Supplemental Indenture No. 22 arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services. 

(m) Under certain circumstances, the Calculation Agent may be required to determine the interest rates on the Securities of the Twenty-Fourth
Series on the basis of quotations received from banks or other financial institutions (the “Reference Banks”) selected by the Company for the purpose of quoting such rates. The Calculation Agent shall not be responsible to the Company or
any third party for any failure of the Reference Banks to fulfill their duties or meet their obligations as Reference Banks or as a result of the Calculation Agent having acted (except in the event of gross negligence or willful misconduct) on any
quotation or other information given by any Reference Bank which subsequently may be found to be incorrect. 

SECTION 204.    Qualifications. The Calculation Agent shall be authorized by law to
perform all the duties imposed upon it by this Supplemental Indenture No. 22, and shall at all times have a capitalization of at least $50,000,000. The Calculation Agent may not be an affiliate of the Company. 

SECTION 205.    Resignation and Removal. The Calculation Agent may at any time resign as
Calculation Agent by giving written notice to the Company of such intention on its part, specifying the 

 
date on which its desired resignation shall become effective; provided, however, that such date shall never be earlier than 45 days after the receipt of such notice by the Company, unless the
Company otherwise agrees in writing. The Calculation Agent may be removed at any time by the filing with it of any instrument in writing signed on behalf of the Company and specifying such removal and the date when it is intended to become
effective. Such resignation or removal shall take effect upon the date of the appointment by the Company, as hereinafter provided, of a successor Calculation Agent. If within 30 days after notice of resignation or removal has been given, a successor
Calculation Agent has not been appointed, the Calculation Agent may, at the expense of the Company, petition a court of competent jurisdiction to appoint a successor Calculation Agent; provided, however, no such petition shall occur if the Trustee
has become, or is permitted to become, the Calculation Agent pursuant to Section 207. If at any time the Calculation Agent shall resign or be removed, or be dissolved, or if the property or affairs of the Calculation Agent shall be taken under
the control of any state or federal court or administrative body because of bankruptcy or insolvency or for any other reason, then a successor Calculation Agent shall as soon as practicable be appointed by the Company by an instrument in writing
filed with the predecessor Calculation Agent, the successor Calculation Agent and the Trustee. Upon the appointment of a successor Calculation Agent and acceptance by it of such appointment, the Calculation Agent so succeeded shall cease to be such
Calculation Agent hereunder. Upon its resignation or removal, the Calculation Agent shall be entitled to the payment by the Company of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all reasonable
out-of-pocket expenses (including reasonable counsel fees) incurred in connection with the services rendered by it hereunder and to the payment of all other amounts owed
to it hereunder. 
 SECTION 206.    Successors. Any successor Calculation Agent
appointed hereunder shall execute and deliver to its predecessor, the Company and the Trustee an instrument accepting such appointment hereunder, and thereupon such successor Calculation Agent, without any further act, deed or conveyance, shall
become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally named as such Calculation Agent hereunder, and such predecessor, upon payment of its charges and
disbursements then unpaid, shall thereupon become obliged to transfer and deliver, and such successor Calculation Agent shall be entitled to receive, copies of any relevant records maintained by such predecessor Calculation Agent. 

SECTION 207.    Trustee Deemed Calculation Agent Upon Certain Circumstances. In the event
that the Calculation Agent shall resign or be removed, or be dissolved, or if the property or affairs of the Calculation Agent shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency
or for any other reason, and the Company shall not have made a timely appointment of a successor Calculation Agent, the Trustee, notwithstanding the provisions of this Article Two and provided the Trustee is not currently the Calculation Agent,
shall be deemed to be the Calculation Agent for all purposes of this Supplemental Indenture No. 22 and the Securities of the Twenty-Fourth Series until the appointment by the Company of the successor Calculation Agent. 

SECTION 208.    Merger, Conversion, Consolidation, Sale or Transfer. Any corporation into
which the Calculation Agent may be merged or converted, or any corporation with which the Calculation Agent may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Calculation Agent shall be a
party or to which the Calculation Agent shall sell or otherwise transfer all or substantially all of its corporate trust assets or business shall, to the extent permitted by applicable law, be the successor Calculation Agent under this Supplemental
Indenture No. 22 without the execution or filing of any paper or any further act on the part of any of the parties hereto. Written notice of any such merger, conversion or consolidation or sale shall forthwith be given to the Company and the
Trustee (if the Trustee is not then serving as the Calculation Agent). 

 SECTION 209.    Notice. Any request,
demand, authorization, direction, notice, consent, waiver or other document provided or permitted hereby to be given or furnished to the Calculation Agent shall be delivered in person, sent by letter or electronic mail, facsimile or communicated by
telephone (subject, in the case of communication by telephone, to confirmation dispatched within 24 hours by letter, facsimile or by electronic mail) as follows: 

The Bank of New York Mellon 

Attention: Corporate Trust Administration 

240 Greenwich Street 
 New York,
New York 10286 
 Fax: (212) 495-2546 

or to any other address of which the Calculation Agent shall have notified the Company and the Trustee (if the Trustee is not then serving as
the Calculation Agent) in writing as herein provided. 
 The Calculation Agent agrees to accept and act upon instructions or directions
pursuant to this Supplemental Indenture No. 22 sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Calculation Agent shall have
received an incumbency certificate listing persons designated to give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is
to be added or deleted from the listing. If the Company elects to give the Calculation Agent e-mail or facsimile instructions (or instructions by a similar electronic method) and the Calculation Agent in its
discretion elects to act upon such instructions, the Calculation Agent’s reasonable understanding of such instructions shall be deemed controlling. The Calculation Agent shall not be liable for any losses, costs or expenses arising directly or
indirectly from the Calculation Agent’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out
of the use of such electronic methods to submit instructions and directions to the Calculation Agent including without limitation the risk of the Calculation Agent acting on unauthorized instructions (so long as the Calculation Agent reasonably
believes, in good faith, that such instructions are authorized), and the risk of interception and misuse by third parties. 

SECTION 210.    WAIVER OF JURY TRIAL. EACH OF THE COMPANY, THE CALCULATION AGENT AND THE TRUSTEE
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE NO. 22, THE SECURITIES OF THE TWENTY-FOURTH SERIES OR
THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 SECTION 211.    USA PATRIOT Act. In
order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering and the Customer Identification
Program (“CIP”) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which the Calculation Agent must obtain, verify and record information that allows the Calculation Agent to identify customers
(“Applicable Law”), the Calculation Agent is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Calculation Agent. Accordingly, the Company agrees
to provide to the Calculation Agent upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Calculation Agent to comply with Applicable Law, including, but not
limited to, information as to name, physical address, tax identification number and other information that will help the Calculation Agent to identify and verify such Corporation such as organizational documents,

 
certificates of good standing, licenses to do business or other pertinent identifying information. The Company understands and agrees that the Calculation Agent cannot determine the interest
rates on the Securities of the Twenty-Fourth Series unless and until the Calculation Agent verifies the identities of the Company in accordance with its CIP. 

SECTION 212.    Calculation of Interest Rate for First Interest Period. The Calculation
Agent, at the request of the Company, has determined, prior to the date of execution and delivery of this Supplemental Indenture No. 22, the interest rate for the initial Interest Period for the Securities of the Twenty-Fourth Series. In
connection with such determination, the Calculation Agent shall be entitled to the same rights, protections, exculpations and immunities otherwise available to it under this Supplemental Indenture No. 22. 

SECTION 213.    FATCA. The Company agrees (i) to provide the Trustee, upon written
request, with such reasonable tax information as it has obtained in the ordinary course and has readily available in its possession to enable the Trustee to determine whether any payments pursuant to this Supplemental Indenture No. 22 are
subject to the withholding requirements described in Section 1471(b) of the US Internal Revenue Code of 1986 (the “Code”) or otherwise imposed pursuant to Sections 1471 through 1474 of the Code and any regulations, or agreements
thereunder or official interpretations thereof (“FATCA”) and (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under this Supplemental Indenture No. 22 to the extent necessary to comply
with FATCA. 
 ARTICLE THREE 

MISCELLANEOUS PROVISIONS 

SECTION 301.    This Supplemental Indenture No. 22 is a supplement to the Original
Indenture, as heretofore amended and supplemented. As supplemented by this Supplemental Indenture No. 22, the Original Indenture, as heretofore amended and supplemented, is in all respects ratified, approved and confirmed, and the Original
Indenture, as heretofore amended and supplemented, and this Supplemental Indenture No. 22 shall together constitute the Indenture. 

SECTION 302.    The recitals contained in this Supplemental Indenture No. 22 shall be taken
as the statements of the Company, and the Trustee assumes no responsibility for their correctness and makes no representations as to the validity or sufficiency of this Supplemental Indenture No. 22. 

This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument. 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 22 to be duly
executed as of the 29th day of September, 2020. 
  

					
	PPL ELECTRIC UTILITIES CORPORATION
		
	 By:
	 	 /s/ Tadd J. Henninger

		 	 Name:
	 	 Tadd J. Henninger

		 	 Title:
	 	 Vice President and Treasurer

  
 [Signature Page to
Supplemental Indenture No. 22] 

 
					
	THE BANK OF NEW YORK MELLON, as Trustee and Calculation Agent
		
	 By:
	 	 /s/ Latoya S. Elvin

		 	 Name:
	 	 Latoya S. Elvin

		 	 Title:
	 	 Vice President

  
 [Signature Page to
Supplemental Indenture No. 22] 

					
	COMMONWEALTH OF PENNSYLVANIA	 	)	 	
		 	)    ss.:	 	
	COUNTY OF LEHIGH	 	)	 	

 On this 29th day of September, 2020, before me, a notary public, the undersigned, personally appeared Tadd J. Henninger, who
acknowledged himself to be the Vice President and Treasurer of PPL ELECTRIC UTILITIES CORPORATION, a corporation of the Commonwealth of Pennsylvania and that he, as such Vice President and Treasurer, being authorized to do so, executed the foregoing
instrument for the purposes therein contained, by signing the name of the corporation by himself as Vice President and Treasurer. 
 In witness whereof, I
hereunto set my hand and official seal. 
  

	
	/s/ Jaqueline M. Jacob
	Notary Public

					
	STATE OF NEW JERSEY	 	)	 	
		 	)    ss.:	 	
	COUNTY OF PASSAIC	 	)	 	

 On this 29th day of September, 2020, before me, a notary public, the undersigned, personally appeared Latoya S. Elvin, who
acknowledged herself to be a Vice President of THE BANK OF NEW YORK MELLON, a corporation and that she, as Vice President, being authorized to do so, executed the foregoing instrument for the purposes therein contained, by signing the name of the
corporation by herself as Vice President. 
 In witness whereof, I hereunto set my hand and official seal. 

 

	
	/s/ Brett J. Anderson
	Notary Public

 The Bank of New York Mellon hereby certifies that its precise name and address as Trustee hereunder are: 

The Bank of New York Mellon 
 240
Greenwich Street, 7th Floor 
 New York, New York 10286 

Attn: Corporate Trust Administration 
  

					
	THE BANK OF NEW YORK MELLON, as Trustee
		
	 By:
	 	 /s/ Latoya S. Elvin

		 	 Name:
	 	 Latoya S. Elvin

		 	 Title:
	 	 Vice President

 SCHEDULE A 
  

																			
	
Supplemental
Indenture No.
	  	 Dated as of
	  	 Series
	  	 Series Designation
	  	Principal
Amount
Authorized	 	  	Principal
Amount Issued	 	  	Principal
Amount
Outstanding1	 
	1	  	August 1, 2001	  	First	  	Senior Secured Bonds, 5 7⁄8%
Series due 2007	  	$	300,000,000	 	  	$	300,000,000	 	  	 	None	 
							
	1	  	August 1, 2001	  	Second	  	Senior Secured bonds, 6 1⁄4%
Series due 2009	  	$	500,000,000	 	  	$	500,000,000	 	  	 	None	 
							
	2	  	February 1, 2003	  	Third	  	Senior Secured Bonds, 3.125%
Pollution Control Series due 2008	  	$	90,000,000	 	  	$	90,000,000	 	  	 	None	 
							
	3	  	May 1, 2003	  	Fourth	  	Senior Secured Bonds, 4.30%
Series due 2013	  	$	100,000,000	 	  	$	100,000,000	 	  	 	None	 
							
	4	  	February 1, 2005	  	Fifth	  	Senior Secured Bonds, 4.70%
Pollution Control Series due 2029	  	$	115,500,000	 	  	$	115,500,000	 	  	 	None	 
							
	5	  	May 1, 2005	  	Sixth	  	Senior Secured Bonds, 4.75%
Pollution Control Series due 2027	  	$	108,250,000	 	  	$	108,250,000	 	  	 	None	 
							
	6	  	December 1, 2005	  	Seventh	  	Senior Secured Bonds, 4.95%
Series due 2015	  	$	100,000,000	 	  	$	100,000,000	 	  	 	None	 
							
	6	  	December 1, 2005	  	Eighth	  	Senior Secured Bonds, 5.15%
Series due 2020	  	$	100,000,000	 	  	$	100,000,000	 	  	 	None	 
							
	7	  	August 1, 2007	  	Ninth	  	Senior Secured Bonds, 6.45%
Series due 2037	  	$	250,000,000	 	  	$	250,000,000	 	  	$	250,000,000	 
							
	8	  	October 1, 2008	  	Tenth	  	Senior Secured Bonds, 7.125%
Series due 2013	  	$	400,000,000	 	  	$	400,000,000	 	  	 	None	 
							
	9	  	October 1, 2008	  	Eleventh	  	Senior Secured Bonds, Variable
Rate Pollution Control Series 2008	  	$	90,000,000	 	  	$	90,000,000	 	  	$	90,000,000	 
							
	10	  	May 1, 2009	  	Twelfth	  	First Mortgage Bonds, 6.25%
Series due 2039	  	$	300,000,000	 	  	$	300,000,000	 	  	$	300,000,000	 
							
	11	  	July 1, 20112	  	—	  	—	  	 	—	 	  	 	—	 	  	 	—	 
							
	12	  	July 1, 2011	  	Thirteenth	  	First Mortgage Bonds, 5.20%
Series due 2041	  	$	250,000,000	 	  	$	250,000,000	 	  	$	250,000,000	 
							
	13	  	August 1, 2011	  	Fourteenth	  	First Mortgage Bonds, 3.00%
Series due 2021	  	$	400,000,000	 	  	$	400,000,000	 	  	$	400,000,000	 
							
	14	  	August 1, 2012	  	Fifteenth	  	First Mortgage Bonds, 2.50%
Series due 2022	  	$	250,000,000	 	  	$	250,000,000	 	  	$	250,000,000	 
							
	15	  	July 1, 2013	  	Sixteenth	  	First Mortgage Bonds, 4.75%
Series due 2043	  	$	350,000,000	 	  	$	350,000,000	 	  	$	350,000,000	 
							
	16	  	June 1, 2014	  	Seventeenth	  	First Mortgage Bonds, 4.125%
Series due 2044	  	$	300,000,000	 	  	$	300,000,000	 	  	$	300,000,000	 
							
	17	  	October 1, 2015	  	Eighteenth	  	First Mortgage Bonds, 4.15%
Series due 2045	  	$	350,000,000	 	  	$	350,000,000	 	  	$	350,000,000	 

  

	1 	 As of September 1, 2020. 

	2 	 Supplemental Indenture No. 11 provided for certain amendments to the Original Indenture and did not
provide for the establishment of any series of Securities. 

  
 B-1 

																			
							
	18	  	March 1, 2016	  	Nineteenth	  	First Mortgage Bonds,
Pollution Control Series 2016A	  	$	115,500,000	 	  	$	115,500,000	 	  	$	115,500,000	 
							
	18	  	March 1, 2016	  	Twentieth	  	First Mortgage Bonds,
Pollution Control Series 2016B	  	$	108,250,000	 	  	$	108,250,000	 	  	$	108,250,000	 
							
	19	  	May 1, 2017	  	Twenty-First	  	First Mortgage Bonds, 3.950%
Series due 2047	  	$	475,000,000	 	  	$	475,000,000	 	  	$	475,000,000	 
							
	20	  	June 1, 2018	  	Twenty-Second	  	First Mortgage Bonds, 4.15%
Series due 2048	  	$	400,000,000	 	  	$	400,000,000	 	  	$	400,000,000	 
							
	21	  	September 1, 2019	  	Twenty-Third	  	First Mortgage Bonds, 3.00%
Series due 2049	  	$	400,000,000	 	  	$	400,000,000	 	  	$	400,000,000	 

  
 B-2

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