Document:

EX-4.1

 Exhibit 4.1 

TO BE RECORDED AND WHEN 
 RECORDED RETURN TO: 

Hunton Andrews Kurth LLP 
 550 South Hope Street, Suite 2000 

Los Angeles, CA 90071 
 Attention: Robert M. Johnson, Esq. 

THIRTEENTH SUPPLEMENTAL INDENTURE 

Dated as of February 18, 2022 

SUPPLEMENT TO INDENTURE OF MORTGAGE 

Dated as of June 19, 2020 
  

 
 PACIFIC GAS
AND ELECTRIC COMPANY 
 ISSUER (MORTGAGOR) 

AND 
 THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A. 
 TRUSTEE (MORTGAGEE) 

 TABLE OF CONTENTS 

 

					
	 ARTICLE I DEFINITIONS
	  	 	2	 
		
	 ARTICLE II ESTABLISHMENT OF 3.25% FIRST MORTGAGE BONDS DUE 2024
	  	 	4	 
		
	 ARTICLE III ESTABLISHMENT OF 4.20% FIRST MORTGAGE BONDS DUE 2029
	  	 	6	 
		
	 ARTICLE IV ESTABLISHMENT OF 4.40% FIRST MORTGAGE BONDS DUE 2032
	  	 	8	 
		
	 ARTICLE V ESTABLISHMENT OF 5.25% FIRST MORTGAGE BONDS DUE 2052
	  	 	10	 
		
	 ARTICLE VI MODIFICATION OF THE FIFTH SUPPLEMENTAL INDENTURE AND ELEVENTH SUPPLEMENTAL
INDENTURE
	  	 	12	 
		
	 ARTICLE VII AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	14	 
		
	 ARTICLE VIII COVENANTS
	  	 	14	 
		
	 ARTICLE IX MISCELLANEOUS
	  	 	14	 

 EXHIBIT A FORM OF 3.25% FIRST MORTGAGE BOND DUE 2024 

EXHIBIT B FORM OF 4.20% FIRST MORTGAGE BOND DUE 2029 
 EXHIBIT C
FORM OF 4.40% FIRST MORTGAGE BOND DUE 2032 
 EXHIBIT D FORM OF 5.25% FIRST MORTGAGE BOND DUE 2052 

EXHIBIT E FORM OF BOND OF THE THIRTY-FOURTH SERIES (REPLACEMENT A) 

SCHEDULE 1 MORTGAGE INDENTURE RECORDING INFORMATION 

  
 i 

 THIRTEENTH SUPPLEMENTAL INDENTURE, dated as of February 18, 2022 (this
“Thirteenth Supplemental Indenture”), by and between PACIFIC GAS AND ELECTRIC COMPANY, a California corporation (the “Company”), as Mortgagor, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a
national banking association, as Trustee under the Mortgage Indenture (as hereinafter defined) and Mortgagee (the “Trustee”). 

RECITALS OF THE COMPANY 

A. The Company and the Trustee are parties to that certain Indenture of Mortgage, dated as of June 19, 2020 (together with all indentures
supplemental thereto, the “Mortgage Indenture”), providing for the issuance by the Company of Bonds (as defined in the Mortgage Indenture) from time to time. 

B. Under the Mortgage Indenture, the Company is authorized to issue unlimited series of Bonds and establish one or more series of Bonds at any
time in accordance with the provisions of the Mortgage Indenture, and the terms of such series of Bonds may be described by a supplemental indenture executed by the Company and the Trustee. 

C. Pursuant to Section 3.01 of the Mortgage Indenture, the Company and the Trustee deem it advisable to enter into this Thirteenth
Supplemental Indenture for the purposes of establishing the terms of four series of Bonds and the amendments described below. 
 D. The
Company and the Trustee are parties to that certain Fifth Supplemental Indenture, dated as of July 1, 2020 (the “Fifth Supplemental Indenture”) providing for the issuance by the Company of the Bond of the Thirty-Second Series,
the Bond of the Thirty-Third Series, the Bond of the Thirty-Fourth Series and the Bond of the Thirty-Fifth Series. 
 E. The Company and the
Trustee are parties to that certain Eleventh Supplemental Indenture, dated as of October 29, 2021 (the “Eleventh Supplemental Indenture”) providing for certain amendments to the Fifth Supplemental Indenture and the issuance of
two replacement Bonds to replace the Bond of the Thirty-Fourth Series: (1) a Bond of the Thirty-Fourth Series (Tranche A) corresponding to the Tranche A Obligations (as defined in the Eleventh Supplemental Indenture) and (2) a Bond of the
Thirty-Fourth Series (Tranche B) corresponding to the Tranche B Obligations (as defined in the Eleventh Supplemental Indenture) (collectively, the “Bonds of the Thirty-Fourth Series”). 

F. The Company and the Holder of the Bonds of the Thirty-Fourth Series desire to amend and supplement the Fifth Supplemental Indenture and the
Eleventh Supplemental Indenture solely with respect to the provisions relating to the Bonds of the Thirty-Fourth Series and the Holder has consented to such amendment and entry into this Thirteenth Supplemental Indenture pursuant to
Section 14.02 of the Mortgage Indenture. 
 G. This Thirteenth Supplemental Indenture is being entered into pursuant to
Section 14.02 of the Mortgage Indenture. 

 H. The Bond of the Thirty-Fourth Series (Tranche A) and the Bond of the Thirty-Fourth Series
(Tranche B), each previously authenticated pursuant to the Eleventh Supplemental Indenture shall be delivered to the Trustee to be cancelled and the Trustee will authenticate and deliver one replacement Bond: a single Bond of the Thirty-Fourth
Series (Replacement A) corresponding to the Obligations (as defined herein) (the “Bond of the Thirty-Fourth Series (Replacement A)”) pursuant to Section 14.06 of the Mortgage Indenture and this Thirteenth Supplemental
Indenture. 
 I. The execution and delivery of this Thirteenth Supplemental Indenture has been authorized by a Board Resolution (as defined
in the Mortgage Indenture). 
 J. Concurrent with the execution hereof, the Company has caused its counsel to deliver to the Trustee an
Opinion of Counsel (as defined in the Mortgage Indenture) pursuant to Section 14.03 of the Mortgage Indenture. 
 K. The Company has
done all things necessary to make this Thirteenth Supplemental Indenture a valid agreement of the Company in accordance with its terms. 

NOW, THEREFORE, the Company and the Trustee agree, for the benefit of each other and the equal and proportionate benefit of all Holders of the
Bonds of the series established hereby and the Holder of the Bonds of the Thirty-Fourth Series, as follows: 
 ARTICLE I 

DEFINITIONS 
 Unless
the context otherwise requires, capitalized terms used but not defined herein have the meaning set forth in the Mortgage Indenture. 
 The
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Thirteenth Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

The following additional definitions are hereby established for purposes of this Thirteenth Supplemental Indenture and shall have the meanings
set forth in this Thirteenth Supplemental Indenture only for purposes of this Thirteenth Supplemental Indenture: 
 “2029 Bonds Par
Call Date” means January 1, 2029. 
 “2032 Bonds Par Call Date” means December 1, 2031. 

“2052 Bonds Par Call Date” means September 1, 2051. 

“Ascertainable Fees” has the meaning specified in Section 601 hereof. 

“DTC” means The Depository Trust Company. 

“Electronic Means” means the following communications methods: e-mail, facsimile
transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its
services hereunder. 

  
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 “Interest Amount” has the meaning specified in Section 601 hereof.

 “Interest Payment Date” has the meaning specified in Section 601 hereof. 

“Instructions” has the meaning specified in Section 910 hereof. 

“Loan Documents” has the meaning specified in Section 601 hereof. 

“Obligations” has the meaning specified in Section 601 hereof. 

“Original Issue Date” means February 18, 2022. 

“Par Call Date” means (1) with respect to the 2029 Bonds, the 2029 Bonds Par Call Date, (2) with respect to the
2032 Bonds, the 2032 Bonds Par Call Date, or (3) with respect to the 2052 Bonds, the 2052 Bonds Par Call Date. 
 “Redemption
Price” means (1) with respect to the 2024 Bonds, the price at which the 2024 Bonds may be redeemed pursuant to Section 208(b) hereto, (2) with respect to the 2029 Bonds, the price at which the 2029 Bonds may be redeemed
pursuant to Section 308(a) or Section 308(b) hereto, as applicable, (3) with respect to the 2032 Bonds, the price at which the 2032 Bonds may be redeemed pursuant to Section 408(a) or Section 408(b) hereto, as applicable,
and (4) with respect to the 2052 Bonds, the price at which the 2052 Bonds may be redeemed pursuant to Section 508(a) or Section 508(b) hereto, as applicable. 

“Term Credit Agreement” has the meaning specified in Section 601 hereof. 

“Treasury Rate” means, with respect to any Redemption Date, the yield determined by the Company in accordance with the
following two paragraphs. 
 The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or after such time as
yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for the most recent day that appear after such
time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or publication)
(“H.15”) under the caption “U.S. government securities–Treasury constant maturities—Nominal” (or any successor caption or heading). In determining the Treasury Rate, the Company shall select, as applicable:
(1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to the applicable Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity on
H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than
the Remaining Life—and shall interpolate to the applicable Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury
constant maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or
maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 

  
 3 

 If on the third Business Day preceding the Redemption Date H.15 or any successor designation
or publication is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such
Redemption Date of the United States Treasury security maturing on, or with a maturity that is closest to, the applicable Par Call Date. If there is no United States Treasury security maturing on the applicable Par Call Date but there are two or
more United States Treasury securities with a maturity date equally distant from the applicable Par Call Date, one with a maturity date preceding such Par Call Date and one with a maturity date following such Par Call Date, the Company shall select
the United States Treasury security with a maturity date preceding such Par Call Date. If there are two or more United States Treasury securities maturing on the applicable Par Call Date or two or more United States Treasury securities meeting the
criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for
such United States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be
based upon the average of the bid and asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 

ARTICLE II 

ESTABLISHMENT OF 3.25% FIRST MORTGAGE BONDS DUE 2024 

SECTION 201 Establishment and Designation of the 2024 Bonds. 

Pursuant to the terms hereof and Section 3.01 and Article V of the Mortgage Indenture, the Company hereby establishes a forty-third
series of Bonds designated as the “3.25% First Mortgage Bonds due 2024” (“2024 Bonds”). The 2024 Bonds may be reopened, from time to time, for issuances of additional Bonds of such series subject to the terms of Article V
of the Mortgage Indenture, and any additional Bonds issued and comprising 2024 Bonds shall have identical terms as the 2024 Bonds, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

SECTION 202 Form of 2024 Bonds. 
 The
2024 Bonds shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit A. 
 SECTION 203 Principal Amount.

 The 2024 Bonds shall be issued in an initial aggregate principal amount of $1,000,000,000. 

  
 4 

 SECTION 204 Interest Rate; Stated Maturity; Minimum Denominations. 

The 2024 Bonds shall bear interest at the rate of 3.25% per annum and shall have a Stated Maturity of February 16, 2024. 

The 2024 Bonds are issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

SECTION 205 No Sinking Fund. 
 No sinking
fund is provided for any of the 2024 Bonds. 
 SECTION 206 Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the 2024 Bonds. The Place of Payment of the 2024 Bonds
shall be the Corporate Trust Office of the Trustee. 
 SECTION 207 Global Securities; Appointment of Depositary for Global Securities. 

The 2024 Bonds shall be issued in the form of one or more permanent Global Bonds as provided in Section 3.14 of the Mortgage Indenture
and deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. The Company hereby initially appoints DTC to act as the Depositary with respect
to all 2024 Bonds, and the 2024 Bonds shall initially be registered in the name of Cede & Co., as the nominee of DTC. 
 The
Company and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if
necessary, and shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Mortgage Indenture. 

None of the Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of
Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of
beneficial interests in the 2024 Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION 208 Optional Redemption. 

(a) Prior to February 16, 2023, the Company may not redeem the 2024 Bonds. 

(b) Subject to the terms and conditions of the Mortgage Indenture, on or after February 16, 2023, the Company may redeem
the 2024 Bonds, 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 2024 Bonds being redeemed plus accrued and unpaid interest thereon to the Redemption Date. 

  
 5 

 (c) The Redemption Price shall be calculated assuming a 360-day year consisting of twelve 30-day months. 

(d) The Company shall calculate the Redemption Price for the redemption of any 2024 Bonds pursuant to this Section 208,
and notify the Trustee and, on or before the applicable Redemption Date, deposit with the Trustee or Paying Agent sufficient funds to pay the applicable Redemption Price for the 2024 Bonds to be redeemed on such Redemption Date. 

(e) Notice of any redemption pursuant to this Section 208 shall be given (i) to Holders of the 2024 Bonds in the
manner set forth in Section 6.04 of the Mortgage Indenture and by e-mail to the Depositary and (ii) to the Trustee in accordance with Section 6.02 of the Mortgage Indenture. 

SECTION 209 Other Terms of the 2024 Bonds. 

The other terms of the 2024 Bonds shall be as expressly set forth herein and in Exhibit A. 

ARTICLE III 

ESTABLISHMENT OF 4.20% FIRST MORTGAGE BONDS DUE 2029 

SECTION 301 Establishment and Designation of the 2029 Bonds. 

Pursuant to the terms hereof and Section 3.01 and Article V of the Mortgage Indenture, the Company hereby establishes a forty-fourth
series of Bonds designated as the “4.20% First Mortgage Bonds due 2029” (“2029 Bonds”). The 2029 Bonds may be reopened, from time to time, for issuances of additional Bonds of such series subject to the terms of Article V
of the Mortgage Indenture, and any additional Bonds issued and comprising 2029 Bonds shall have identical terms as the 2029 Bonds, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

SECTION 302 Form of 2029 Bonds. 
 The
2029 Bonds shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit B. 
 SECTION 303 Principal Amount.

 The 2029 Bonds shall be issued in an initial aggregate principal amount of $400,000,000. 

SECTION 304 Interest Rate; Stated Maturity; Minimum Denominations. 

The 2029 Bonds shall bear interest at the rate of 4.20% per annum and shall have a Stated Maturity of March 1, 2029. 

The 2029 Bonds are issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

  
 6 

 SECTION 305 No Sinking Fund. 

No sinking fund is provided for any of the 2029 Bonds. 

SECTION 306 Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the 2029 Bonds. The Place of Payment of the 2029 Bonds
shall be the Corporate Trust Office of the Trustee. 
 SECTION 307 Global Securities; Appointment of Depositary for Global Securities. 

The 2029 Bonds shall be issued in the form of one or more permanent Global Bonds as provided in Section 3.14 of the Mortgage Indenture
and deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. The Company hereby initially appoints DTC to act as the Depositary with respect
to all 2029 Bonds, and the 2029 Bonds shall initially be registered in the name of Cede & Co., as the nominee of DTC. 
 The
Company and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if
necessary, and shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Mortgage Indenture. 

None of the Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of
Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of
beneficial interests in the 2029 Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION 308 Optional Redemption. 

(a) Subject to the terms and conditions of the Mortgage Indenture, prior the 2029 Bonds Par Call Date, the Company may redeem
the 2029 Bonds at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of: (1)(a) the sum of the
present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the 2029 Bonds matured on the 2029 Bonds Par Call Date) on a semi-annual basis (assuming
a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, less (b) interest accrued to the Redemption Date;
and (2) 100% of the principal amount of the 2029 Bonds to be redeemed, plus, in either case, accrued and unpaid interest thereon to the Redemption Date. 

(b) Subject to the terms and conditions of the Mortgage Indenture, on or after the 2029 Bonds Par Call Date, the Company may
redeem the 2029 Bonds, 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 2029 Bonds being redeemed plus accrued and unpaid interest thereon to the Redemption Date. 

  
 7 

 (c) The Redemption Price shall be calculated assuming a 360-day year consisting of twelve 30-day months. 

(d) The Company shall calculate the Redemption Price for the redemption of any 2029 Bonds pursuant to this Section 308,
and notify the Trustee and, on or before the applicable Redemption Date, deposit with the Trustee or Paying Agent sufficient funds to pay the applicable Redemption Price for the 2029 Bonds to be redeemed on such Redemption Date. 

(e) Notice of any redemption pursuant to this Section 308 shall be given (i) to Holders of the 2029 Bonds in the
manner set forth in Section 6.04 of the Mortgage Indenture and by e-mail to the Depositary and (ii) to the Trustee in accordance with Section 6.02 of the Mortgage Indenture. 

SECTION 309 Other Terms of the 2029 Bonds. 

The other terms of the 2029 Bonds shall be as expressly set forth herein and in Exhibit B. 

ARTICLE IV 

ESTABLISHMENT OF 4.40% FIRST MORTGAGE BONDS DUE 2032 

SECTION 401 Establishment and Designation of the 2032 Bonds. 

Pursuant to the terms hereof and Section 3.01 and Article V of the Mortgage Indenture, the Company hereby establishes a forty-fifth
series of Bonds designated as the “4.40% First Mortgage Bonds due 2032” (“2032 Bonds”). The 2032 Bonds may be reopened, from time to time, for issuances of additional Bonds of such series subject to the terms of Article V
of the Mortgage Indenture, and any additional Bonds issued and comprising 2032 Bonds shall have identical terms as the 2032 Bonds, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

SECTION 402 Form of 2032 Bonds. 
 The
2032 Bonds shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit C. 
 SECTION 403 Principal Amount.

 The 2032 Bonds shall be issued in an initial aggregate principal amount of $450,000,000. 

SECTION 404 Interest Rate; Stated Maturity; Minimum Denominations. 

The 2032 Bonds shall bear interest at the rate of 4.40% per annum and shall have a Stated Maturity of March 1, 2032. 

  
 8 

 The 2032 Bonds are issuable in denominations of $2,000 and any integral multiple of $1,000
in excess thereof. 
 SECTION 405 No Sinking Fund. 

No sinking fund is provided for any of the 2032 Bonds. 

SECTION 406 Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the 2032 Bonds. The Place of Payment of the 2032 Bonds
shall be the Corporate Trust Office of the Trustee. 
 SECTION 407 Global Securities; Appointment of Depositary for Global Securities. 

The 2032 Bonds shall be issued in the form of one or more permanent Global Bonds as provided in Section 3.14 of the Mortgage Indenture
and deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. The Company hereby initially appoints DTC to act as the Depositary with respect
to all 2032 Bonds, and the 2032 Bonds shall initially be registered in the name of Cede & Co., as the nominee of DTC. 
 The
Company and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if
necessary, and shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Mortgage Indenture. 

None of the Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of
Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of
beneficial interests in the 2032 Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION 408 Optional Redemption. 

(a) Subject to the terms and conditions of the Mortgage Indenture, prior to the 2032 Bonds Par Call Date, the Company may
redeem the 2032 Bonds at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of: (1)(a) the sum of the
present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the 2032 Bonds matured on the 2032 Bonds Par Call Date) on a semi-annual basis (assuming
a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 40 basis points, less (b) interest accrued to the Redemption Date;
and (2) 100% of the principal amount of the 2032 Bonds to be redeemed, plus, in either case, accrued and unpaid interest thereon to the Redemption Date. 

  
 9 

 (b) Subject to the terms and conditions of the Mortgage Indenture, on or
after the 2032 Bonds Par Call Date, the Company may redeem the 2032 Bonds, 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 2032 Bonds being redeemed plus accrued and unpaid
interest thereon to the Redemption Date. 
 (c) The Redemption Price shall be calculated assuming a 360-day year consisting of twelve 30-day months. 

(d) The Company shall calculate the Redemption Price for the redemption of any 2032 Bonds pursuant to this Section 408,
and notify the Trustee and, on or before the applicable Redemption Date, deposit with the Trustee or Paying Agent sufficient funds to pay the applicable Redemption Price for the 2032 Bonds to be redeemed on such Redemption Date. 

(e) Notice of any redemption pursuant to this Section 408 shall be given (i) to Holders of the 2032 Bonds in the
manner set forth in Section 6.04 of the Mortgage Indenture and by e-mail to the Depositary and (ii) to the Trustee in accordance with Section 6.02 of the Mortgage Indenture. 

SECTION 409 Other Terms of the 2032 Bonds. 

The other terms of the 2032 Bonds shall be as expressly set forth herein and in Exhibit C. 

ARTICLE V 

ESTABLISHMENT OF 5.25% FIRST MORTGAGE BONDS DUE 2052 

SECTION 501 Establishment and Designation of the 2052 Bonds. 

Pursuant to the terms hereof and Section 3.01 and Article V of the Mortgage Indenture, the Company hereby establishes a forty-sixth
series of Bonds designated as the “5.25% First Mortgage Bonds due 2052” (“2052 Bonds”). The 2052 Bonds may be reopened, from time to time, for issuances of additional Bonds of such series subject to the terms of Article V
of the Mortgage Indenture, and any additional Bonds issued and comprising 2052 Bonds shall have identical terms as the 2052 Bonds, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

SECTION 502 Form of 2052 Bonds. 
 The
2052 Bonds shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit D. 
 SECTION 503 Principal Amount.

 The 2052 Bonds shall be issued in an initial aggregate principal amount of $550,000,000. 

  
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 SECTION 504 Interest Rate; Stated Maturity; Minimum Denominations. 

The 2052 Bonds shall bear interest at the rate of 5.25% per annum and shall have a Stated Maturity of March 1, 2052. 

The 2052 Bonds are issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

SECTION 505 No Sinking Fund. 
 No sinking
fund is provided for any of the 2052 Bonds. 
 SECTION 506 Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the 2052 Bonds. The Place of Payment of the 2052 Bonds
shall be the Corporate Trust Office of the Trustee. 
 SECTION 507 Global Securities; Appointment of Depositary for Global Securities. 

The 2052 Bonds shall be issued in the form of one or more permanent Global Bonds as provided in Section 3.14 of the Mortgage Indenture
and deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. The Company hereby initially appoints DTC to act as the Depositary with respect
to all 2052 Bonds, and the 2052 Bonds shall initially be registered in the name of Cede & Co., as the nominee of DTC. 
 The
Company and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if
necessary, and shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Mortgage Indenture. 

None of the Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of
Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of
beneficial interests in the 2052 Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION 508 Optional Redemption. 

(a) Subject to the terms and conditions of the Mortgage Indenture, prior to the 2052 Bonds Par Call Date, the Company may
redeem the 2052 Bonds at its option, in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of: (1)(a) the sum of the
present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the 2052 Bonds matured on the 2052 Bonds Par 

  
 11 

 
Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the Treasury Rate plus 45 basis points, less (b) interest accrued to the Redemption Date; and (2) 100% of the principal amount of the 2052 Bonds to be redeemed, plus, in either case, accrued and unpaid interest thereon to the Redemption
Date. 
 (b) Subject to the terms and conditions of the Mortgage Indenture, on or after the 2052 Bonds Par Call Date, the
Company may redeem the 2052 Bonds, 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 2052 Bonds being redeemed plus accrued and unpaid interest thereon to the Redemption Date.

 (c) The Redemption Price shall be calculated assuming a 360-day year consisting of
twelve 30-day months. 
 (d) The Company shall calculate the Redemption Price for the
redemption of any 2052 Bonds pursuant to this Section 508, and notify the Trustee and, on or before the applicable Redemption Date, deposit with the Trustee or Paying Agent sufficient funds to pay the applicable Redemption Price for the 2052
Bonds to be redeemed on such Redemption Date. 
 (e) Notice of any redemption pursuant to this Section 508 shall be
given (i) to Holders of the 2052 Bonds in the manner set forth in Section 6.04 of the Mortgage Indenture and by e-mail to the Depositary and (ii) to the Trustee in accordance with
Section 6.02 of the Mortgage Indenture. 
 SECTION 509 Other Terms of the 2052 Bonds. 

The other terms of the 2052 Bonds shall be as expressly set forth herein and in Exhibit D. 

ARTICLE VI 

MODIFICATION OF THE FIFTH SUPPLEMENTAL INDENTURE AND ELEVENTH SUPPLEMENTAL INDENTURE 

SECTION 601 Amendments Relating to the Bonds of the Thirty-Fourth Series. 

Solely with respect to the Bonds of the Thirty-Fourth Series, the following definitions contained in Article I of the Fifth Supplemental
Indenture (which were subsequently amended in connection with the Eleventh Supplemental Indenture) are hereby amended and restated in their entirety to read as follows: 

“Ascertainable Fees” means any fees due and payable under the Loan Documents and any other written fee agreements from time
to time entered into in connection with the Term Credit Agreement by the Company and any other party to the Term Credit Agreement (the “Related Fee Letters”), including facility fees, administrative agent fees, fronting fees,
arranger fees and up-front fees, that are determinable with reasonable certainty by the Company solely by reference to the Loan Documents or the Related Fee Letters. 

  
 12 

 “Interest Amount” means, without duplication, interest on all Obligations
and all Ascertainable Fees and interest thereon (including, for the avoidance of doubt, any default interest), due and payable under the Loan Documents and Related Fee Letters. 

“Interest Payment Date” means each date on which Interest Amounts are due and payable pursuant to the Loan Documents. 

“Loan Documents” means the Term Credit Agreement, the Bond Delivery Agreement (as defined in the Term Credit Agreement), the
Notes (as defined in the Term Credit Agreement) held by the Lenders (as defined in the Term Credit Agreement) holding 18-Month Tranche Loans (as defined in the Term Credit Agreement), and any amendment,
waiver, supplement or modification to any of the foregoing. 
 “Obligations” means all Obligations (as defined in the Term
Credit Agreement) relating solely to the 18-Month Tranche Loans, including Ascertainable Fees, but excluding the Interest Amount, in each case solely on account of the
18-Month Tranche Loans. 
 “Term Credit Agreement” means the Term Loan Credit
Agreement, dated as of July 1, 2020, as amended, by and among the Company, the several banks and other financial institutions or entities party thereto from time to time, and JPMorgan Chase Bank, N.A., as Administrative Agent, as amended,
supplemented, restated or otherwise modified from time to time. 
 SECTION 602 Amendments Relating to the Bond of the Thirty-Fourth Series (Replacement
A). 
 Solely with respect to the Bond of the Thirty-Fourth Series (Replacement A), Article IV, Section 2 of the Fifth Supplemental
Indenture is amended and restated in its entirety to read as follows: 
 “The Bond of the Thirty-Fourth Series (Replacement A) shall be
issued in certificated form and the form of the Bond of the Thirty-Fourth Series (Replacement A) is set forth in Exhibit E of the Thirteenth Supplemental Indenture and is hereby incorporated herein and made a part hereof.” 

Solely with respect to the Bond of the Thirty-Fourth Series (Replacement A), Article IV, Section 4 of the Fifth Supplemental Indenture is
amended and restated in its entirety to read as follows: 
 “The Bond of the Thirty-Fourth Series (Replacement A) shall bear interest
at the rate or rates, and interest with respect thereto will be payable on the Interest Payment Dates, in each case for such Obligations, set forth in said Bond. The Bond of the Thirty-Fourth Series (Replacement A) shall have a Stated Maturity of
January 1, 2023 (as the same may be extended, without amendment hereof, pursuant to the Loan Documents (as defined in the Term Credit Agreement) and the procedures identified in Section 901 of this Thirteenth Supplemental Indenture).
Interest on the Bond of the Thirty-Fourth Series (Replacement A) shall accrue from the same dates that interest, if any, accrues on outstanding Obligations pursuant to the Loan Documents until such interest is paid.” 

  
 13 

 Solely with respect to the Bond of the Thirty-Fourth Series (Replacement A), Article IV,
Section 8 of the Fifth Supplemental Indenture is amended and restated in its entirety to read as follows: 
 “The other terms of
the Bond of the Thirty-Fourth Series (Replacement A) shall be as expressly set forth in Exhibit E of the Thirteenth Supplemental Indenture.” 

ARTICLE VII 

AMENDMENT, SUPPLEMENT AND WAIVER 

The Trustee and the Company may not modify, amend or supplement this Thirteenth Supplemental Indenture except as set forth in Article XIV of
the Mortgage Indenture as if (a) references in Article XIV to “this Indenture” and “hereto” are deemed to include the Thirteenth Supplemental Indenture, and (b) references to the Bonds of any series “Outstanding
under this Indenture” (or similar expressions and phrases) are deemed to refer only to the Bonds of each series established hereby and no other Bonds. 

ARTICLE VIII 

COVENANTS 
 Each of
the agreements and covenants of the Company contained in Article VII of the Mortgage Indenture shall apply to the Bonds of each series established hereby as of the Original Issue Date. 

ARTICLE IX 

MISCELLANEOUS 
 SECTION 901
Extension Procedures for the Bond of the Thirty-Fourth Series (Replacement A) 
 From time to time, the Maturity Date specified on
the Bond of the Thirty-Fourth Series (Replacement A) may be extended, without amendment hereof, pursuant to the Loan Documents when the Company delivers to the Trustee each of the following: 

 

	 	(a)	 An Officer’s Certificate stating that (i) to the knowledge of the signer, no Event of Default has
occurred and is continuing and (ii) the Maturity Date corresponding to the Bond of the Thirty-Fourth Series (Replacement A) has been extended pursuant to the terms of the Loan Documents and specifying such new Maturity Date. Such Officer’s
Certificate shall provide as an exhibit a copy of a notice executed by the Administrative Agent (as defined in the Term Credit Agreement) confirming that the Maturity Date corresponding to the Bond of the Thirty-Fourth Series (Replacement A) has
been extended pursuant to the terms of the Loan Documents and specifying such new Maturity Date. 

  
 14 

	 	(b)	 A Company Order requesting the Trustee update the Maturity Date corresponding to the Bond of the Thirty-Fourth
Series (Replacement A) to such new Maturity Date and authenticate a replacement Bond of the Thirty-Fourth Series (Replacement A) upon surrender by the Administrative Agent (as defined in the Term Credit Agreement) of the existing certificated Bond
of the Thirty-Fourth Series (Replacement A) and to cancel and dispose of, in the manner provided in the Mortgage Indenture, such existing certificated Bond, in the manner provided in the Mortgage Indenture and upon such cancellation and disposition,
such existing certificated Bond shall no longer be considered Outstanding. 

 SECTION 902 Concerning the Trustee. 

The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Thirteenth Supplemental
Indenture or the due execution hereof by the Company, or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by the Company. Except as herein otherwise provided, no duties,
responsibilities or liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this Thirteenth Supplemental Indenture other than as set forth in the Mortgage Indenture; and this Thirteenth Supplemental Indenture is
executed and accepted on behalf of the Trustee, subject to all the terms and conditions set forth in the Mortgage Indenture, as fully to all intents as if the same were herein set forth at length. 

SECTION 903 Application of Thirteenth Supplemental Indenture. 

Except as provided herein, each and every term and condition contained in this Thirteenth Supplemental Indenture that modifies, amends or
supplements the terms and conditions of the Mortgage Indenture shall apply only to the Bonds of each series established hereby and not to any other series of Bonds established under the Mortgage Indenture. Except as specifically amended and
supplemented by, or to the extent inconsistent with, this Thirteenth Supplemental Indenture, the Mortgage Indenture shall remain in full force and effect and is hereby ratified and confirmed. 

SECTION 904 Headings. 
 The headings of
the several Articles of this Thirteenth Supplemental Indenture are inserted for convenience of reference, and shall not be deemed to be any part hereof. 

SECTION 905 Effective Date. 
 This
Thirteenth Supplemental Indenture shall be effective upon the execution and delivery hereof by each of the parties hereto. 
 SECTION 906
Counterparts. 
 This Thirteenth Supplemental Indenture may be executed in any number of counterparts, and each of such counterparts
shall together constitute but one and the same instrument. Delivery of an executed Thirteenth Supplemental Indenture by one party to the other may be made by facsimile, electronic mail (including any electronic signature complying with the New York
Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) or other transmission method, and the parties hereto agree that any
counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

  
 15 

 SECTION 907 Governing Law. 

The laws of the State of New York shall govern this Thirteenth Supplemental Indenture, the 2024 Bonds, the 2029 Bonds, the 2032 Bonds and the
2052 Bonds, without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 

SECTION 908 Severability. 
 In case any
provision in this Thirteenth Supplemental Indenture, the 2024 Bonds, the 2029 Bonds, the 2032 Bonds and the 2052 Bonds shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any
way be affected or impaired thereby. 
 SECTION 909 Incorporation by Reference. 

The terms of Schedule 1 attached hereto are incorporated herein and made a part hereof by this reference. 

SECTION 910 Electronic Communication. 

With respect to the 2024 Bonds, the 2029 Bonds, the 2032 Bonds and the 2052 Bonds under this Thirteenth Supplemental Indenture, the Trustee
shall have the right to accept and act upon instructions (“Instructions”), given pursuant to this Thirteenth Supplemental Indenture and delivered using Electronic Means; provided, however, that the Company shall provide to the
Trustee an incumbency certificate listing Authorized Officers and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted from the listing.
If the Company elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Company
understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Officer listed on the
incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company and all Authorized
Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt thereof by the Company. The Trustee shall not be liable for any losses, costs or
expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Company agrees: (i) to
assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties;
(ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s) selected by
the Company; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances; and
(iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures. 

  
 16 

 IN WITNESS WHEREOF, the parties hereto have caused this Thirteenth Supplemental Indenture to
be duly executed as of the day and year first above written. 
  

			
	PACIFIC GAS AND ELECTRIC COMPANY, as Issuer (Mortgagor)
		
	By:	 	/s/ Margaret K. Becker
	Name:	 	Margaret K. Becker
	Title:	 	Vice President and Treasurer

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee (Mortgagee)
		
	By:	 	/s/ Robert W. Hardy
	Name:	 	Robert W. Hardy
	Title:	 	Vice President

 A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. 
  

			
	 STATE OF CALIFORNIA
	  	 }

		  	}
	 COUNTY OF SAN FRANCISCO
	  	 }

 On February 7, 2022, before me, Rey Eloriaga, a notary public, personally appeared Margaret K. Becker, who proved to me
on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature on the instrument the person, or the
entity upon behalf of which the person acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that
the foregoing paragraph is true and correct. 
  

	
	 WITNESS my hand and official seal.

	
	 /s/ Ray Eloriaga

	 Signature

	
	 (Seal)

 A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. 
  

			
	 STATE OF ILLINOIS
	  	 }

		  	 }

	 COUNTY OF COOK
	  	 }

 On February 9, 2022, before me, Lawrence M. Kusch, a notary public, personally appeared Robert W. Hardy, a Vice President
of The Bank of New York Mellon Trust Company, N.A. and who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized
capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 
  

	
	 WITNESS my hand and official seal.

	
	 /s/ Lawrence M. Kusch

	 Signature

	
	 (Seal)

 EXHIBIT A 

[FORM OF 3.25% FIRST MORTGAGE BOND DUE 2024] 

[FORM OF FACE OF BOND] 
 THIS
BOND IS A GLOBAL BOND WITHIN THE MEANING OF THE MORTGAGE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE MORTGAGE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL BOND IS EXCHANGEABLE FOR BONDS
REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE MORTGAGE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR BONDS IN CERTIFICATED FORM, THIS GLOBAL
BOND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE
FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT:
 $1,000,000,000
	  	 ORIGINAL ISSUE DATE:
 February 18,
2022
	  	 INTEREST RATE:
 3.25% per annum

			
	 MATURITY DATE:
 February 16, 2024
	  	 INTEREST PAYMENT DATES:
 February 16 and
August 16 of each year, commencing August 16, 2022
	  	 THIS BOND IS A:
 [X] Global Book-Entry Bond

[    ] Certificated Bond

		
	 REGISTERED OWNER: Cede & Co., as nominee of The

Depository Trust Company
	  	

  
 A-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

3.25% FIRST MORTGAGE BOND DUE 2024 

(Fixed Rate) 
  

			
	No. [•]	  	Principal Amount: $[•]
	CUSIP [•]	  	

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Mortgage Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co., as nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in
the case of a 3.25% First Mortgage Bond Due 2024 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the
Interest Payment Dates set forth above and on the Maturity Date stated above at the rate of 3.25% per annum until the 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 Mortgage Indenture, be paid to the Person in whose name this 3.25% First Mortgage Bond Due 2024 (this “Bond”) (or one or more Predecessor Bonds) is registered at the close of business
on the Regular Record Date for such interest, which shall be February 1 or August 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided, however, that interest payable at the Maturity
Date or on a Redemption Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Bond (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, as set forth in Section 3.07 of the
Mortgage Indenture, notice whereof shall be given to Holders of Bonds of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of the Mortgage
Indenture and any securities exchange, if any, on which the Bonds of this series may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Mortgage Indenture. 

Payments of interest on this Bond will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for
this Bond shall be computed and paid on the basis of the 360-day year of twelve 30-day months. In the event that any date on which interest is payable on this Bond
(other than the Maturity Date) is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same
force and effect as if made on the date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding Business Day, and
no interest on such payment shall accrue for the period from and after maturity. 

  
 A-2 

 Payment of principal of, premium, if any, and interest on the Bonds of this series shall be
made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any, and interest on the Bonds of this series represented by a
Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first surrendered to the Paying Agent. If any
of the Bonds of this series are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or on a Redemption Date of such Bonds shall be made at the office of the Paying Agent upon
surrender of such Bonds to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the address of the Person entitled thereto as such
address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Bonds at such place and to such account at a banking institution in the United States as such Holders may
designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 
 REFERENCE IS HEREBY MADE TO THE
FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 

  
 A-3 

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

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

Dated: 
  

			
	PACIFIC GAS AND ELECTRIC COMPANY
		
	By	 	 
		 	Name: David Thomason
		 	Title: Vice President, Chief Financial Officer and Controller
		
	By	 	 
		 	Name: Margaret K. Becker
		 	Title: Vice President and Treasurer

  
 A-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Bonds of the series designated as Bonds of the 3.25% First Mortgage Bonds due 2024 referred to in the within-mentioned
Mortgage Indenture. 
  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

		
	 By:
	 	 
		 	 Authorized Signatory

 Dated: 

  
 A-5 

 [FORM OF REVERSE OF 3.25% FIRST MORTGAGE BOND DUE 2024] 

This 3.25% First Mortgage Bond due 2024 is one of a duly authorized issue of Bonds of the Company (the “Bonds”), issued and
issuable in one or more series under and equally secured by an Indenture of Mortgage, dated as of June 19, 2020 (such Mortgage Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together
with any constituent instruments establishing the terms of particular Bonds, being herein called the “Mortgage Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Mortgage Indenture), and reference is hereby made to the Mortgage Indenture for a description of the property mortgaged, pledged and held in trust, the nature and extent
of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and delivered.
The acceptance of this Bond shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Mortgage Indenture. 

The Company shall not be required to make any mandatory redemption or sinking fund payments with respect to the Bonds of this series. 

Prior to February 16, 2023, the Company may not redeem the Bonds of this series. 

Subject to the terms and conditions of the Mortgage Indenture, the Bonds of this series are also redeemable at the option of the Company
(“Optional Redemption”), in whole or in part at any time on or after February 16, 2023, in whole or in part, at a Redemption Price equal to 100% of the principal amount of the Bonds of this series to be redeemed, plus accrued
and unpaid interest thereon to, but not including, the Redemption Date. 
 Interest installments whose Stated Maturity is on or prior to
such Redemption Date will be payable to Holders of such Bonds of this series, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Mortgage
Indenture. 
 In the case of an Optional Redemption, notice of redemption will be sent not less than 10 days nor more than 60 days prior to
the Redemption Date to each Holder of Bonds of this series to be redeemed. If money sufficient to pay the Redemption Price of all Bonds of this series (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent or
the Trustee on or prior to the Redemption Date, from and after such Redemption Date such Bonds of this series or portions thereof shall cease to bear interest. The Bonds of this series in denominations larger than $2,000 in principal amount may be
redeemed in part but only in integral multiples of $1,000. 
 In the case of a partial redemption, selection of the Bonds of this series for
redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Bonds of this series of a principal amount of $2,000 or less will be redeemed in part. If any Bond of this series
is to be redeemed in part only, the notice of redemption that relates to the Bond of 

  
 A-6 

 
this series will state the portion of the principal amount of the Bond of this series to be redeemed. A new Bond of this series in a principal amount equal to the unredeemed portion of the Bond
of this series will be issued in the name of the Holder of the Bond of this series upon surrender for cancellation of the original Bond of this series. For so long as the Bonds of this series are held by DTC (or another Depositary), the redemption
of the Bonds of this series shall be done in accordance with the policies and procedures of the Depositary. 
 As provided in the Mortgage
Indenture and subject to certain limitations therein set forth, this Bond or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Mortgage Indenture and to be no longer Outstanding thereunder, and the
Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient
and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be
sufficient to pay when due the principal of and premium, if any, and interest on this Bond when due. 
 If an Event of Default shall occur
and be continuing as provided in the Mortgage Indenture, the Trustee or the Holders of not less than 25% in aggregate principal amount of Bonds then Outstanding, considered as one class, may declare the principal amount of all Bonds then Outstanding
to be due and payable immediately by notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events,
the principal amount of all Bonds then Outstanding shall be due and payable immediately without further action by the Trustee or the Holders. 

The Mortgage Indenture permits, with certain exceptions as therein provided, the Company and the Trustee to enter into one or more
supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Mortgage Indenture with the consent of the Holders of not less than a majority in aggregate principal amount
of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Mortgage Indenture and if a proposed supplemental indenture shall directly
affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all series so directly affected, considered as
one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of
one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so directly affected, considered as one class, shall be required; and
provided, further, that the Mortgage Indenture permits the Company and the Trustee to enter into one or more supplemental indentures for certain purposes without the consent of any Holders of Bonds. The Mortgage Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf of the Holders of all such Bonds, to waive certain past defaults under the Mortgage Indenture and their consequences. Any such consent or waiver by the
Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond 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 Bond. 

  
 A-7 

 As provided in and subject to the provisions of the Mortgage Indenture, the Holder of this
Bond shall not have the right to institute any proceeding with respect to the Mortgage Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written
notice of a continuing Event of Default, the Holders of at least 25% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as
Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds at the time Outstanding a direction inconsistent with such written request,
and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Bond for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the
Mortgage Indenture and no provision of this Bond or of the Mortgage Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Bond at the times,
place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Mortgage Indenture and subject to certain limitations
therein set forth, the transfer of this Bond is registrable in the Bond Register, upon surrender of this Bond for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on
this Bond are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney
duly authorized in writing, and thereupon one or more new Bonds of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Bonds of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000
in excess thereof. As provided in the Mortgage Indenture and subject to certain limitations therein set forth, Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series and of like tenor of a different
authorized denomination, as requested by the Holders surrendering the same. 
 No service charge shall be made for any such registration of
transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

The Company shall not be required to execute or to provide for the registration of the transfer of or the exchange of (A) any Bond of
this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial numbers (or with respect to Global Bonds, CUSIP numbers) of the Bonds of this series called for redemption, or (B) any Bond of
this series selected for redemption in whole or in part, except the unredeemed portion of any Bond of this series being redeemed in part. 

  
 A-8 

 Prior to due presentment of this Bond for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name this Bond is registered as the owner hereof for all purposes, whether or not this Bond is overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary. 
 This Bond shall be governed by, and construed and enforced in accordance with, the laws of the State
of New York without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be applicable. 

As provided in the Mortgage Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with respect
to this Bond, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the Mortgage Indenture, against any incorporator,
shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any
constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Mortgage Indenture and all the Bonds are solely corporate obligations and that any
such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Mortgage Indenture and the issuance of this Bond. 

All terms used in this Bond which are not defined herein shall have the meanings assigned to them in the Mortgage Indenture. 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Bond, fill in the form below: (I) or (we) assign and transfer this Bond
to                                        
                         
  

 

	
	(Insert assignee’s soc. sec. or tax I.D. no.)
	 
	 
	 
	 

 (Print or type assignee’s name, address and zip code) 

and irrevocably appoint
                                         
                                         
                                         
                                         
                                         to
transfer this Bond on the books of the Company. The agent may substitute another to act for him. 

Date:                     

 

	
	 Your
signature:                                       
                 

	 (Sign exactly as your name appears on the face of this Bond)

	
	 Tax Identification No.:

	
	 SIGNATURE GUARANTEE:

	
	 
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion
Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended.

  

  
 A-10 

 EXHIBIT B 

[FORM OF 4.20% FIRST MORTGAGE BOND DUE 2029] 

[FORM OF FACE OF BOND] 
 THIS BOND
IS A GLOBAL BOND WITHIN THE MEANING OF THE MORTGAGE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE MORTGAGE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL BOND IS EXCHANGEABLE FOR BONDS REGISTERED IN
THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE MORTGAGE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR BONDS IN CERTIFICATED FORM, THIS GLOBAL BOND MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE
OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE FOLLOWING SUMMARY OF TERMS IS SUBJECT
TO THE INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT:
 $400,000,000
	  	 ORIGINAL ISSUE DATE:
 February 18,
2022
	  	 INTEREST RATE:
 4.20% per annum

			
	 MATURITY DATE:
 March 1, 2029
	  	 INTEREST PAYMENT DATES:
 March 1 and
September 1 of each year, commencing September 1, 2022
	  	 THIS BOND IS A:
 [X] Global Book-Entry Bond

[    ] Certificated Bond

		
	 REGISTERED OWNER: Cede & Co.,

as nominee of The Depository Trust Company
	  	

  
 B-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

4.20% FIRST MORTGAGE BOND DUE 2029 

(Fixed Rate) 
  

			
	No. [•]	  	Principal Amount: $[•]
	CUSIP [•]	  	

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Mortgage Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co., as nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in
the case of a 4.20% First Mortgage Bond Due 2029 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the
Interest Payment Dates set forth above and on the Maturity Date stated above at the rate of 4.20% per annum until the 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 Mortgage Indenture, be paid to the Person in whose name this 4.20% First Mortgage Bond Due 2029 (this “Bond”) (or one or more Predecessor Bonds) is registered at the close of business
on the Regular Record Date for such interest, which shall be February 15 or August 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided, however, that interest payable at the Maturity
Date or on a Redemption Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Bond (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, as set forth in Section 3.07 of the
Mortgage Indenture, notice whereof shall be given to Holders of Bonds of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of the Mortgage
Indenture and any securities exchange, if any, on which the Bonds of this series may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Mortgage Indenture. 

Payments of interest on this Bond will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for
this Bond shall be computed and paid on the basis of the 360-day year of twelve 30-day months. In the event that any date on which interest is payable on this Bond
(other than the Maturity Date) is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same
force and effect as if made on the date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding Business Day, and
no interest on such payment shall accrue for the period from and after maturity. 

  
 B-2 

 Payment of principal of, premium, if any, and interest on the Bonds of this series shall be
made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any, and interest on the Bonds of this series represented by a
Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first surrendered to the Paying Agent. If any
of the Bonds of this series are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or on a Redemption Date of such Bonds shall be made at the office of the Paying Agent upon
surrender of such Bonds to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the address of the Person entitled thereto as such
address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Bonds at such place and to such account at a banking institution in the United States as such Holders may
designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 
 REFERENCE IS HEREBY MADE TO THE
FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 

  
 B-3 

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

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

Dated: 
  

			
	PACIFIC GAS AND ELECTRIC COMPANY
		
	By	 	 
		 	Name:David Thomason
		 	Title:  Vice President, Chief Financial Officer and Controller
		
	By	 	 
		 	Name:Margaret K. Becker
		 	Title:  Vice President and Treasurer

  
 B-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Bonds of the series designated as Bonds of the 4.20% First Mortgage Bonds due 2029 referred to in the within-mentioned
Mortgage Indenture. 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	 By:
	 	 
		 	 Authorized Signatory

 Dated: 

  
 B-5 

 [FORM OF REVERSE OF 4.20% FIRST MORTGAGE BOND DUE 2029] 

This 4.20% First Mortgage Bond due 2029 is one of a duly authorized issue of Bonds of the Company (the “Bonds”), issued and
issuable in one or more series under and equally secured by an Indenture of Mortgage, dated as of June 19, 2020 (such Mortgage Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together
with any constituent instruments establishing the terms of particular Bonds, being herein called the “Mortgage Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Mortgage Indenture), and reference is hereby made to the Mortgage Indenture for a description of the property mortgaged, pledged and held in trust, the nature and extent
of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and delivered.
The acceptance of this Bond shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Mortgage Indenture. 

The Company shall not be required to make any mandatory redemption or sinking fund payments with respect to the Bonds of this series. 

Subject to the terms and conditions of the Mortgage Indenture, prior to the Par Call Date, the Company may redeem the Bonds of this series at
its option (“Optional Redemption”), in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of:
(1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Bonds of this series matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, less (b) interest accrued to the Redemption Date; and
(2) 100% of the principal amount of the Bonds of this series to be redeemed, plus, in either case, accrued and unpaid interest thereon to the Redemption Date. 

Subject to the terms and conditions of the Mortgage Indenture, on or after the Par Call Date, the Company may redeem the Bonds 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 Bonds of this series being redeemed plus accrued and unpaid interest thereon to the Redemption Date. 

For purposes of determining the Redemption Price, the following terms have the following meanings: 

“Par Call Date” means January 1, 2029. 

“Treasury Rate” means, with respect to any Redemption Date, the yield determined by the Company in accordance with the
following two paragraphs. 

  
 B-6 

 The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or
after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for the most recent day that
appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or
publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities—Nominal” (or any successor caption or heading). In determining the Treasury Rate, the Company shall select, as
applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity
on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than
the Remaining Life—and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant
maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on
H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 

If on the third Business Day preceding the Redemption Date H.15 or any successor designation or publication is no longer published, the
Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such Redemption Date of the United States Treasury
security maturing on, or with a maturity that is closest to, the Par Call Date. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally
distant from the applicable Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the
Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or
more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining
the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal
amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 
 Interest
installments whose Stated Maturity is on or prior to such Redemption Date will be payable to Holders of such Bonds of this series, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the
face hereof, all as provided in the Mortgage Indenture. 
 In the case of an Optional Redemption, notice of redemption will be sent not less
than 10 days nor more than 60 days prior to the Redemption Date to each Holder of Bonds of this series to be redeemed. If money sufficient to pay the Redemption Price of all Bonds of this series (or portions thereof) to be redeemed on the Redemption
Date is deposited with the Paying Agent or the Trustee on or prior to the Redemption Date, from and after such Redemption Date such Bonds of this series or portions thereof shall cease to bear interest. The Bonds of this series in denominations
larger than $2,000 in principal amount may be redeemed in part but only in integral multiples of $1,000. 

  
 B-7 

 In the case of a partial redemption, selection of the Bonds of this series for redemption
will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Bonds of this series of a principal amount of $2,000 or less will be redeemed in part. If any Bond of this series is to be
redeemed in part only, the notice of redemption that relates to the Bond of this series will state the portion of the principal amount of the Bond of this series to be redeemed. A new Bond of this series in a principal amount equal to the unredeemed
portion of the Bond of this series will be issued in the name of the Holder of the Bond of this series upon surrender for cancellation of the original Bond of this series. For so long as the Bonds of this series are held by DTC (or another
Depositary), the redemption of the Bonds of this series shall be done in accordance with the policies and procedures of the Depositary. 

As provided in the Mortgage Indenture and subject to certain limitations therein set forth, this Bond or any portion of the principal amount
hereof will be deemed to have been paid for all purposes of the Mortgage Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been
irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any
reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and premium, if any, and interest on this Bond when due.

 If an Event of Default shall occur and be continuing as provided in the Mortgage Indenture, the Trustee or the Holders of not less than
25% in aggregate principal amount of Bonds then Outstanding, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to the Company (and to the Trustee if given
by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be due and payable immediately without
further action by the Trustee or the Holders. 
 The Mortgage Indenture permits, with certain exceptions as therein provided, the Company
and the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Mortgage Indenture with the consent of the Holders of not less than
a majority in aggregate principal amount of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Mortgage Indenture and if a proposed
supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all
series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly
affect the rights of the 

  
 B-8 

 
Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so
directly affected, considered as one class, shall be required; and provided, further, that the Mortgage Indenture permits the Company and the Trustee to enter into one or more supplemental indentures for certain purposes without the
consent of any Holders of Bonds. The Mortgage Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf of the Holders of all such Bonds, to waive certain past defaults under the
Mortgage Indenture and their consequences. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond 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 Bond. 
 As provided in
and subject to the provisions of the Mortgage Indenture, the Holder of this Bond shall not have the right to institute any proceeding with respect to the Mortgage Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default, the Holders of at least 25% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to
the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds
at the time Outstanding a direction inconsistent with such written request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Bond for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Mortgage Indenture and no provision of this Bond or of the Mortgage Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Bond at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Mortgage Indenture and subject to certain limitations therein set forth, the transfer of this Bond is registrable in the
Bond Register, upon surrender of this Bond for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Bond are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Bonds of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Bonds of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000
in excess thereof. As provided in the Mortgage Indenture and subject to certain limitations therein set forth, Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series and of like tenor of a different
authorized denomination, as requested by the Holders surrendering the same. 

  
 B-9 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The
Company shall not be required to execute or to provide for the registration of the transfer of or the exchange of (A) any Bond of this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial
numbers (or with respect to Global Bonds, CUSIP numbers) of the Bonds of this series called for redemption, or (B) any Bond of this series selected for redemption in whole or in part, except the unredeemed portion of any Bond of this series
being redeemed in part. 
 Prior to due presentment of this Bond for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Bond is registered as the owner hereof for all purposes, whether or not this Bond is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 This Bond shall be governed by, and construed and enforced in accordance with, the laws of the State of New York without regard
to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be applicable. 
 As provided in
the Mortgage Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with respect to this Bond, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness
represented hereby, or upon any obligation, covenant or agreement under the Mortgage Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor
corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being
expressly agreed and understood that the Mortgage Indenture and all the Bonds are solely corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the
execution of the Mortgage Indenture and the issuance of this Bond. 
 All terms used in this Bond which are not defined herein shall have
the meanings assigned to them in the Mortgage Indenture. 

  
 B-10 

 ASSIGNMENT FORM 

To assign this Bond, fill in the form below: (I) or (we) assign and transfer this Bond
to                                       
                                      

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name, address and zip
code) 
 and irrevocably
appoint                                        
                                         
                                         
                                         
                to transfer this Bond on the books of the Company. The agent may substitute another to act for him. 

Date: ___________ 
  

			
		
	Your signature:	 	 
	(Sign exactly as your name appears on the face of this Bond)
	
	Tax Identification No.:
	
	SIGNATURE GUARANTEE:
	
	 
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the
Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.

  
 B-11 

 EXHIBIT C 

[FORM OF 4.40% FIRST MORTGAGE BOND DUE 2032] 

[FORM OF FACE OF BOND] 
 THIS
BOND IS A GLOBAL BOND WITHIN THE MEANING OF THE MORTGAGE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE MORTGAGE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL BOND IS EXCHANGEABLE FOR BONDS
REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE MORTGAGE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR BONDS IN CERTIFICATED FORM, THIS GLOBAL
BOND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE
FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT:
 $450,000,000
	  	 ORIGINAL ISSUE DATE:
 February 18,
2022
	  	 INTEREST RATE:
 4.40% per annum

			
	 MATURITY DATE:
 March 1, 2032
	  	 INTEREST PAYMENT DATES:
 March 1 and
September 1 of each year, commencing September 1, 2022
	  	 THIS BOND IS A:
 [X] Global Book-Entry
Bond
 [    ] Certificated Bond

		
	 REGISTERED OWNER: Cede & Co.,

as nominee of The Depository Trust Company
	  	

  
 C-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

4.40% FIRST MORTGAGE BOND DUE 2032 

(Fixed Rate) 
  

			
	 No. [•]
	  	 Principal Amount: $[•]

	 CUSIP [•]
	  	

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Mortgage Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co., as nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in
the case of a 4.40% First Mortgage Bond Due 2032 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the
Interest Payment Dates set forth above and on the Maturity Date stated above at the rate of 4.40% per annum until the 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 Mortgage Indenture, be paid to the Person in whose name this 4.40% First Mortgage Bond Due 2032 (this “Bond”) (or one or more Predecessor Bonds) is registered at the close of business
on the Regular Record Date for such interest, which shall be February 15 or August 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided, however, that interest payable at the Maturity
Date or on a Redemption Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Bond (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, as set forth in Section 3.07 of the
Mortgage Indenture, notice whereof shall be given to Holders of Bonds of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of the Mortgage
Indenture and any securities exchange, if any, on which the Bonds of this series may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Mortgage Indenture. 

Payments of interest on this Bond will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for
this Bond shall be computed and paid on the basis of the 360-day year of twelve 30-day months. In the event that any date on which interest is payable on this Bond
(other than the Maturity Date) is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same
force and effect as if made on the date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding Business Day, and
no interest on such payment shall accrue for the period from and after maturity. 

  
 C-2 

 Payment of principal of, premium, if any, and interest on the Bonds of this series shall be
made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any, and interest on the Bonds of this series represented by a
Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first surrendered to the Paying Agent. If any
of the Bonds of this series are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or on a Redemption Date of such Bonds shall be made at the office of the Paying Agent upon
surrender of such Bonds to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the address of the Person entitled thereto as such
address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Bonds at such place and to such account at a banking institution in the United States as such Holders may
designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 
 REFERENCE IS HEREBY MADE TO THE
FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 

  
 C-3 

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

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

Dated: 
  

					
	PACIFIC GAS AND ELECTRIC COMPANY
		
	By	 	 
		 	Name: David Thomason
		 	Title:   Vice President, Chief Financial Officer and Controller
		
	By	 	 
		 	Name: Margaret K. Becker
		 	Title:   Vice President and Treasurer

  
 C-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Bonds of the series designated as Bonds of the 4.40% First Mortgage Bonds due 2032 referred to in the within-mentioned
Mortgage Indenture. 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 
	Authorized Signatory

 Dated: 

  
 C-5 

 [FORM OF REVERSE OF 4.40% FIRST MORTGAGE BOND DUE 2032] 

This 4.40% First Mortgage Bond due 2032 is one of a duly authorized issue of Bonds of the Company (the “Bonds”), issued and
issuable in one or more series under and equally secured by an Indenture of Mortgage, dated as of June 19, 2020 (such Mortgage Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together
with any constituent instruments establishing the terms of particular Bonds, being herein called the “Mortgage Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Mortgage Indenture), and reference is hereby made to the Mortgage Indenture for a description of the property mortgaged, pledged and held in trust, the nature and extent
of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and delivered.
The acceptance of this Bond shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Mortgage Indenture. 

The Company shall not be required to make any mandatory redemption or sinking fund payments with respect to the Bonds of this series. 

Subject to the terms and conditions of the Mortgage Indenture, prior to the Par Call Date, the Company may redeem the Bonds of this series at
its option (“Optional Redemption”), in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of:
(1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Bonds of this series matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 40 basis points, less (b) interest accrued to the Redemption Date; and
(2) 100% of the principal amount of the Bonds of this series to be redeemed, plus, in either case, accrued and unpaid interest thereon to the Redemption Date. 

Subject to the terms and conditions of the Mortgage Indenture, on or after the Par Call Date, the Company may redeem the Bonds 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 Bonds of this series being redeemed plus accrued and unpaid interest thereon to the Redemption Date. 

For purposes of determining the Redemption Price, the following terms have the following meanings: 

“Par Call Date” means December 1, 2031. 

“Treasury Rate” means, with respect to any Redemption Date, the yield determined by the Company in accordance with the
following two paragraphs. 

  
 C-6 

 The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or
after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for the most recent day that
appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or
publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities—Nominal” (or any successor caption or heading). In determining the Treasury Rate, the Company shall select, as
applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity
on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than
the Remaining Life—and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant
maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on
H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 

If on the third Business Day preceding the Redemption Date H.15 or any successor designation or publication is no longer published, the
Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such Redemption Date of the United States Treasury
security maturing on, or with a maturity that is closest to, the Par Call Date. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally
distant from the applicable Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the
Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or
more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining
the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal
amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 
 Interest
installments whose Stated Maturity is on or prior to such Redemption Date will be payable to Holders of such Bonds of this series, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the
face hereof, all as provided in the Mortgage Indenture. 
 In the case of an Optional Redemption, notice of redemption will be sent not less
than 10 days nor more than 60 days prior to the Redemption Date to each Holder of Bonds of this series to be redeemed. If money sufficient to pay the Redemption Price of all Bonds of this series (or portions thereof) to be redeemed on the Redemption
Date is deposited with the Paying Agent or the Trustee on or prior to the Redemption Date, from and after such Redemption Date such Bonds of this series or portions thereof shall cease to bear interest. The Bonds of this series in denominations
larger than $2,000 in principal amount may be redeemed in part but only in integral multiples of $1,000. 

  
 C-7 

 In the case of a partial redemption, selection of the Bonds of this series for redemption
will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Bonds of this series of a principal amount of $2,000 or less will be redeemed in part. If any Bond of this series is to be
redeemed in part only, the notice of redemption that relates to the Bond of this series will state the portion of the principal amount of the Bond of this series to be redeemed. A new Bond of this series in a principal amount equal to the unredeemed
portion of the Bond of this series will be issued in the name of the Holder of the Bond of this series upon surrender for cancellation of the original Bond of this series. For so long as the Bonds of this series are held by DTC (or another
Depositary), the redemption of the Bonds of this series shall be done in accordance with the policies and procedures of the Depositary. 

As provided in the Mortgage Indenture and subject to certain limitations therein set forth, this Bond or any portion of the principal amount
hereof will be deemed to have been paid for all purposes of the Mortgage Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been
irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any
reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and premium, if any, and interest on this Bond when due.

 If an Event of Default shall occur and be continuing as provided in the Mortgage Indenture, the Trustee or the Holders of not less than
25% in aggregate principal amount of Bonds then Outstanding, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to the Company (and to the Trustee if given
by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be due and payable immediately without
further action by the Trustee or the Holders. 
 The Mortgage Indenture permits, with certain exceptions as therein provided, the Company
and the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Mortgage Indenture with the consent of the Holders of not less than
a majority in aggregate principal amount of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Mortgage Indenture and if a proposed
supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all
series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly
affect the rights of the 

  
 C-8 

 
Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so
directly affected, considered as one class, shall be required; and provided, further, that the Mortgage Indenture permits the Company and the Trustee to enter into one or more supplemental indentures for certain purposes without the
consent of any Holders of Bonds. The Mortgage Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf of the Holders of all such Bonds, to waive certain past defaults under the
Mortgage Indenture and their consequences. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond 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 Bond. 
 As provided in
and subject to the provisions of the Mortgage Indenture, the Holder of this Bond shall not have the right to institute any proceeding with respect to the Mortgage Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default, the Holders of at least 25% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to
the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds
at the time Outstanding a direction inconsistent with such written request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Bond for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Mortgage Indenture and no provision of this Bond or of the Mortgage Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Bond at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Mortgage Indenture and subject to certain limitations therein set forth, the transfer of this Bond is registrable in the
Bond Register, upon surrender of this Bond for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Bond are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Bonds of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Bonds of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000
in excess thereof. As provided in the Mortgage Indenture and subject to certain limitations therein set forth, Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series and of like tenor of a different
authorized denomination, as requested by the Holders surrendering the same. 

  
 C-9 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The
Company shall not be required to execute or to provide for the registration of the transfer of or the exchange of (A) any Bond of this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial
numbers (or with respect to Global Bonds, CUSIP numbers) of the Bonds of this series called for redemption, or (B) any Bond of this series selected for redemption in whole or in part, except the unredeemed portion of any Bond of this series
being redeemed in part. 
 Prior to due presentment of this Bond for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Bond is registered as the owner hereof for all purposes, whether or not this Bond is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 This Bond shall be governed by, and construed and enforced in accordance with, the laws of the State of New York without regard
to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be applicable. 
 As provided in
the Mortgage Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with respect to this Bond, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness
represented hereby, or upon any obligation, covenant or agreement under the Mortgage Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor
corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being
expressly agreed and understood that the Mortgage Indenture and all the Bonds are solely corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the
execution of the Mortgage Indenture and the issuance of this Bond. 
 All terms used in this Bond which are not defined herein shall have
the meanings assigned to them in the Mortgage Indenture. 

  
 C-10 

 ASSIGNMENT FORM 

To assign this Bond, fill in the form below: (I) or (we) assign and transfer this Bond
to                         
  

 
 (Insert assignee’s soc. sec. or tax I.D. no.)

  
  
  

 
  

 
  

 
 (Print or type assignee’s name, address and zip
code) 
 and irrevocably appoint
                                         
                                         
                                         
                                      to transfer this Bond
on the books of the Company. The agent may substitute another to act for him. 
 Date: ___________ 

 

	
	Your signature:
                                         
                       
	(Sign exactly as your name appears on the face of this Bond)
	
	Tax Identification No.:
	
	SIGNATURE GUARANTEE:
	
	 
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended.

  

  
 C-11 

 EXHIBIT D 

[FORM OF 5.25% FIRST MORTGAGE BOND DUE 2052] 

[FORM OF FACE OF BOND] 
 THIS BOND
IS A GLOBAL BOND WITHIN THE MEANING OF THE MORTGAGE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE MORTGAGE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL BOND IS EXCHANGEABLE FOR BONDS REGISTERED IN
THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE MORTGAGE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR BONDS IN CERTIFICATED FORM, THIS GLOBAL BOND MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE
OF SUCH SUCCESSOR DEPOSITARY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE FOLLOWING SUMMARY OF TERMS IS SUBJECT
TO THE INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT:
 $550,000,000
	  	 ORIGINAL ISSUE DATE:
 February 18,
2022
	  	 INTEREST RATE:
 5.25% per annum

			
	 MATURITY DATE:
 March 1, 2052
	  	 INTEREST PAYMENT DATES:
 March 1 and
September 1 of each year, commencing September 1, 2022
	  	 THIS BOND IS A:
 [X] Global Book-Entry Bond

[    ] Certificated Bond

		
	 REGISTERED OWNER: Cede & Co.,

as nominee of The Depository Trust Company
	  	

  
 D-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

5.25% FIRST MORTGAGE BOND DUE 2052 

(Fixed Rate) 
  

			
	No. [•]	  	Principal Amount: $[•]
	CUSIP [•]	  	

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Mortgage Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co., as nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in
the case of a 5.25% First Mortgage Bond Due 2052 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the
Interest Payment Dates set forth above and on the Maturity Date stated above at the rate of 5.25% per annum until the 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 Mortgage Indenture, be paid to the Person in whose name this 5.25% First Mortgage Bond Due 2052 (this “Bond”) (or one or more Predecessor Bonds) is registered at the close of business
on the Regular Record Date for such interest, which shall be February 15 or August 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided, however, that interest payable at the Maturity
Date or on a Redemption Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Bond (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, as set forth in Section 3.07 of the
Mortgage Indenture, notice whereof shall be given to Holders of Bonds of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of the Mortgage
Indenture and any securities exchange, if any, on which the Bonds of this series may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Mortgage Indenture. 

Payments of interest on this Bond will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for
this Bond shall be computed and paid on the basis of the 360-day year of twelve 30-day months. In the event that any date on which interest is payable on this Bond
(other than the Maturity Date) is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same
force and effect as if made on the date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding Business Day, and
no interest on such payment shall accrue for the period from and after maturity. 

  
 D-2 

 Payment of principal of, premium, if any, and interest on the Bonds of this series shall be
made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any, and interest on the Bonds of this series represented by a
Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first surrendered to the Paying Agent. If any
of the Bonds of this series are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or on a Redemption Date of such Bonds shall be made at the office of the Paying Agent upon
surrender of such Bonds to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the address of the Person entitled thereto as such
address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Bonds at such place and to such account at a banking institution in the United States as such Holders may
designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 
 REFERENCE IS HEREBY MADE TO THE
FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 

  
 D-3 

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

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

Dated: 
  

					
	PACIFIC GAS AND ELECTRIC COMPANY
		
	 By
	 	 
		 	 Name:
	 	 David Thomason

		 	 Title:
	 	 Vice President, Chief Financial Officer

and Controller

		
	 By
	 	 
		 	 Name:
	 	 Margaret K. Becker

		 	 Title:
	 	 Vice President and Treasurer

  
 D-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Bonds of the series designated as Bonds of the 5.25% First Mortgage Bonds due 2052 referred to in the within-mentioned
Mortgage Indenture. 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	 By:
	 	 
		 	Authorized Signatory

	
	
	 Dated:

  
 D-5 

 [FORM OF REVERSE OF 5.25% FIRST MORTGAGE BOND DUE 2052] 

This 5.25% First Mortgage Bond due 2052 is one of a duly authorized issue of Bonds of the Company (the “Bonds”), issued and
issuable in one or more series under and equally secured by an Indenture of Mortgage, dated as of June 19, 2020 (such Mortgage Indenture as originally executed and delivered and as supplemented or amended from time to time thereafter, together
with any constituent instruments establishing the terms of particular Bonds, being herein called the “Mortgage Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Mortgage Indenture), and reference is hereby made to the Mortgage Indenture for a description of the property mortgaged, pledged and held in trust, the nature and extent
of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and delivered.
The acceptance of this Bond shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Mortgage Indenture. 

The Company shall not be required to make any mandatory redemption or sinking fund payments with respect to the Bonds of this series. 

Subject to the terms and conditions of the Mortgage Indenture, prior to the Par Call Date, the Company may redeem the Bonds of this series at
its option (“Optional Redemption”), in whole or in part, at any time and from time to time, at a Redemption Price (expressed as a percentage of the principal amount and rounded to three decimal places) equal to the greater of:
(1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Bonds of this series matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 45 basis points, less (b) interest accrued to the Redemption Date; and
(2) 100% of the principal amount of the Bonds of this series to be redeemed, plus, in either case, accrued and unpaid interest thereon to the Redemption Date. 

Subject to the terms and conditions of the Mortgage Indenture, on or after the Par Call Date, the Company may redeem the Bonds 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 Bonds of this series being redeemed plus accrued and unpaid interest thereon to the Redemption Date. 

For purposes of determining the Redemption Price, the following terms have the following meanings: 

“Par Call Date” means September 1, 2051. 

“Treasury Rate” means, with respect to any Redemption Date, the yield determined by the Company in accordance with the
following two paragraphs. 

  
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 The Treasury Rate shall be determined by the Company after 4:15 p.m., New York City time (or
after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for the most recent day that
appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or
publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities—Nominal” (or any successor caption or heading). In determining the Treasury Rate, the Company shall select, as
applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to the Par Call Date (the “Remaining Life”); or (2) if there is no such Treasury constant maturity
on H.15 exactly equal to the Remaining Life, the two yields—one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than
the Remaining Life—and shall interpolate to the Par Call Date on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant
maturity on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on
H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 

If on the third Business Day preceding the Redemption Date H.15 or any successor designation or publication is no longer published, the
Company shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such Redemption Date of the United States Treasury
security maturing on, or with a maturity that is closest to, the Par Call Date. If there is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a maturity date equally
distant from the applicable Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date following the Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the
Par Call Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities meeting the criteria of the preceding sentence, the Company shall select from among these two or
more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities at 11:00 a.m., New York City time. In determining
the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked prices (expressed as a percentage of principal
amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 
 Interest
installments whose Stated Maturity is on or prior to such Redemption Date will be payable to Holders of such Bonds of this series, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the
face hereof, all as provided in the Mortgage Indenture. 

  
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 In the case of an Optional Redemption, notice of redemption will be sent not less than 10
days nor more than 60 days prior to the Redemption Date to each Holder of Bonds of this series to be redeemed. If money sufficient to pay the Redemption Price of all Bonds of this series (or portions thereof) to be redeemed on the Redemption Date is
deposited with the Paying Agent or the Trustee on or prior to the Redemption Date, from and after such Redemption Date such Bonds of this series or portions thereof shall cease to bear interest. The Bonds of this series in denominations larger than
$2,000 in principal amount may be redeemed in part but only in integral multiples of $1,000. 
 In the case of a partial redemption,
selection of the Bonds of this series for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Bonds of this series of a principal amount of $2,000 or less will be
redeemed in part. If any Bond of this series is to be redeemed in part only, the notice of redemption that relates to the Bond of this series will state the portion of the principal amount of the Bond of this series to be redeemed. A new Bond of
this series in a principal amount equal to the unredeemed portion of the Bond of this series will be issued in the name of the Holder of the Bond of this series upon surrender for cancellation of the original Bond of this series. For so long as the
Bonds of this series are held by DTC (or another Depositary), the redemption of the Bonds of this series shall be done in accordance with the policies and procedures of the Depositary. 

As provided in the Mortgage Indenture and subject to certain limitations therein set forth, this Bond or any portion of the principal amount
hereof will be deemed to have been paid for all purposes of the Mortgage Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been
irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any
reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and premium, if any, and interest on this Bond when due.

 If an Event of Default shall occur and be continuing as provided in the Mortgage Indenture, the Trustee or the Holders of not less than
25% in aggregate principal amount of Bonds then Outstanding, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to the Company (and to the Trustee if given
by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be due and payable immediately without
further action by the Trustee or the Holders. 
 The Mortgage Indenture permits, with certain exceptions as therein provided, the Company
and the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Mortgage Indenture with the consent of the Holders of not less than
a majority in aggregate principal amount of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Mortgage Indenture and if a proposed
supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all
series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly
affect the rights of the 

  
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Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so
directly affected, considered as one class, shall be required; and provided, further, that the Mortgage Indenture permits the Company and the Trustee to enter into one or more supplemental indentures for certain purposes without the
consent of any Holders of Bonds. The Mortgage Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf of the Holders of all such Bonds, to waive certain past defaults under the
Mortgage Indenture and their consequences. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond 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 Bond. 
 As provided in
and subject to the provisions of the Mortgage Indenture, the Holder of this Bond shall not have the right to institute any proceeding with respect to the Mortgage Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default, the Holders of at least 25% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to
the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds
at the time Outstanding a direction inconsistent with such written request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Bond for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Mortgage Indenture and no provision of this Bond or of the Mortgage Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Bond at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Mortgage Indenture and subject to certain limitations therein set forth, the transfer of this Bond is registrable in the
Bond Register, upon surrender of this Bond for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Bond are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Bonds of
this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Bonds of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000
in excess thereof. As provided in the Mortgage Indenture and subject to certain limitations therein set forth, Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series and of like tenor of a different
authorized denomination, as requested by the Holders surrendering the same. 

  
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 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The
Company shall not be required to execute or to provide for the registration of the transfer of or the exchange of (A) any Bond of this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial
numbers (or with respect to Global Bonds, CUSIP numbers) of the Bonds of this series called for redemption, or (B) any Bond of this series selected for redemption in whole or in part, except the unredeemed portion of any Bond of this series
being redeemed in part. 
 Prior to due presentment of this Bond for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Bond is registered as the owner hereof for all purposes, whether or not this Bond is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 This Bond shall be governed by, and construed and enforced in accordance with, the laws of the State of New York without regard
to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be applicable. 
 As provided in
the Mortgage Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with respect to this Bond, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness
represented hereby, or upon any obligation, covenant or agreement under the Mortgage Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor
corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being
expressly agreed and understood that the Mortgage Indenture and all the Bonds are solely corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the
execution of the Mortgage Indenture and the issuance of this Bond. 
 All terms used in this Bond which are not defined herein shall have
the meanings assigned to them in the Mortgage Indenture. 

  
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 ASSIGNMENT FORM 

 

	
	To assign this Bond, fill in the form below: (I) or (we) assign and transfer this Bond to______________________________________
	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
	 
	 
	 
	 

 (Print or type assignee’s name, address and zip code) 

and irrevocably appoint ________________________________________________________________________________________ to transfer this Bond on the books of the
Company. The agent may substitute another to act for him. 
 Date: ___________ 

 

			
	 Your signature:
	 	 
	 (Sign exactly as your name appears on the face of this Bond)

	
	 Tax Identification No.:

	
	 SIGNATURE GUARANTEE:

	
	 
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934,
as amended.

  

  
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 EXHIBIT E 

[FORM OF BOND OF THE THIRTY-FOURTH SERIES (REPLACEMENT A)] 

[FORM OF FACE OF BOND] 

NOTE: THE HOLDER OF THIS BOND BY ACCEPTANCE HEREOF AGREES TO RESTRICTIONS ON TRANSFER, TO WAIVERS OF CERTAIN RIGHTS OF EXCHANGE, AND TO
INDEMNIFICATION PROVISIONS AS SET FORTH BELOW. IN ADDITION, THE BOND REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND SUCH BOND OR ANY INTEREST THEREIN MAY NOT BE TRANSFERRED WITHOUT COMPLIANCE WITH
APPLICABLE SECURITIES LAWS. 
 THIS BOND IS NOT TRANSFERABLE EXCEPT TO A SUCCESSOR OR ASSIGN OF THE ADMINISTRATIVE AGENT UNDER THE TERM
CREDIT AGREEMENT REFERRED TO HEREIN AMONG THE COMPANY (AS DEFINED HEREIN) AND THE SEVERAL PARTIES THERETO. THE COMPANY MAY TAKE SUCH ACTIONS AS IT SHALL DEEM NECESSARY, DESIRABLE, OR APPROPRIATE TO EFFECT COMPLIANCE WITH THESE RESTRICTIONS ON
TRANSFER, INCLUDING THE ISSUANCE OF STOP -TRANSFER INSTRUCTIONS TO THE TRUSTEE (AS DEFINED HEREIN) UNDER THE MORTGAGE INDENTURE REFERRED TO HEREIN OR ANY OTHER TRANSFER AGENT THEREUNDER. 

AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS BOND AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

THE FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE INFORMATION SET FORTH IN THIS BOND: 

 

					
	 ORIGINAL ISSUE DATE:
 February 18,
2022
	  	 FACE AMOUNT:
 $298,235,897.44
	  	INTEREST RATE: See below
			
	MATURITY DATE: January 1, 2023 (as the same may be extended, without amendment hereof, pursuant to the Loan Documents and the procedures identified in Section 601 of the Thirteenth Supplemental Indenture)	  	 INTEREST PAYMENT DATES:
 See below
	  	THIS BOND IS A: 
☐ Global Book-Entry Bond 
☒ Certificated Bond

  
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	REGISTERED OWNER: JPMorgan Chase Bank, N.A., as Administrative Agent under the Term Credit Agreement (as defined below), or any successor Administrative Agent under the Term Credit Agreement	 		 	

 This Bond is not a Discount Bond 

within the meaning of the within mentioned Mortgage Indenture 

  
 E-2 

 PACIFIC GAS AND ELECTRIC COMPANY 

BOND OF THE THIRTY-FOURTH SERIES (REPLACEMENT A) 
  

	
	 Face Amount (Maximum Principal Amount):

	 $298,235,897.44

	
	No. _______

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Mortgage Indenture hereinafter referred to), for value received, hereby promises to pay to JPMORGAN CHASE
BANK, N.A., as Administrative Agent (the “Administrative Agent”), or its registered assigns, on behalf of the Secured Parties (as defined herein), the principal sum of up to TWO HUNDRED AND NINETY EIGHT MILLION, TWO HUNDRED AND
THIRTY FIVE THOUSAND, EIGHT HUNDRED AND NINETY SEVEN DOLLARS AND FORTY FOUR CENTS ($298,235,897.44) or such lesser principal amount as shall be equal to the Obligations (as defined herein) due and payable under the Loan Documents (as defined
herein), but not in excess of the then current face amount (maximum principal amount) of this Bond, and to pay interest with respect to this Bond at the Interest Rate (as defined herein) for such Obligations until the principal hereof is paid or
duly made available for payment, but in each case not later than the Maturity Date specified above (as the same may be extended, without amendment hereof, pursuant to the Loan Documents and the procedures identified in Section 601 of the
Thirteenth Supplemental Indenture) or, in the event of default of the payment of the principal hereof, until the Company’s obligations with respect to the payment of such principal shall be discharged as provided in the Mortgage Indenture. 

The principal amount outstanding under this Bond will increase or decrease from time to time to be equal at all times to the Obligations
outstanding from time to time under the Loan Documents, but in no event shall the principal amount exceed the then current face amount. The principal due and payable hereunder by the Company as of any date shall be equal to the Obligations due and
payable under the Loan Documents on such date, but not in excess of the then current face amount (maximum principal amount) of this Bond, and such principal shall be payable on the same dates (whether on the stated due dates or by acceleration
pursuant to the terms of the Term Credit Agreement) as Obligations are payable from time to time pursuant to the Loan Documents. The obligation of the Company to make any payment of principal on this Bond shall be fully or partially, as the case may
be, deemed to have been paid or otherwise satisfied and discharged to the extent that the Company has paid the Obligations due and payable under the Loan Documents, but any such payment shall not reduce the face amount (maximum principal amount) of
this Bond. 
 Interest on this Bond shall be payable on each Interest Payment Date (as defined herein). The obligation of the Company to
make any payment of interest with respect to this Bond shall be fully or partially, as the case may be, deemed to have been paid or otherwise satisfied and discharged to the extent that the Company has paid Interest Amounts (as defined herein) on
the Obligations due and payable pursuant to the Loan Documents. 

  
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 For purposes of this Bond: 

“Ascertainable Fees” means any fees due and payable under the Loan Documents and any other written fee agreements from time
to time entered into in connection with the Term Credit Agreement by the Company and any other party to the Term Credit Agreement (the “Related Fee Letters”), including facility fees, administrative agent fees, fronting fees,
arranger fees and up-front fees, that are determinable with reasonable certainty by the Company solely by reference to the Loan Documents or the Related Fee Letters. 

“Interest Amount” means, without duplication, interest on all Obligations, and all Ascertainable Fees and interest thereon
(including, for the avoidance of doubt, any default interest), due and payable under the Loan Documents and Related Fee Letters. 

“Interest Payment Date” means each date on which Interest Amounts are due and payable pursuant to the Loan Documents. 

“Interest Rate” means a rate of interest per annum to result in an interest payment hereunder equal to the Interest Amount
due and payable under the Loan Documents on the applicable Interest Payment Date. 
 “Loan Documents” means the Term Credit
Agreement, the Bond Delivery Agreement (as defined in the Term Credit Agreement), the Notes (as defined in the Term Credit Agreement) held by the Lenders (as defined in the Term Credit Agreement) holding
18-Month Tranche Loans (as defined in the Term Credit Agreement), and any amendment, waiver, supplement or modification to any of the foregoing. 

“Secured Parties” means, collectively, the Administrative Agent, the Lenders holding
18-Month Tranche Loans (as defined in the Term Credit Agreement), each sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.2 of
the Term Credit Agreement and any other Persons the Obligations owing to whom are or are purported to be secured by the Bond of the Thirty-Fourth Series (Replacement A). 

“Term Credit Agreement” means the Term Loan Credit Agreement, dated as of July 1, 2020, as amended, by and among the
Company, the several banks and other financial institutions or entities party thereto from time to time (the “Lenders”), and JPMorgan Chase Bank, N.A., as Administrative Agent, as amended, supplemented, restated or otherwise
modified from time to time. 
 “Obligations” means all Obligations (as defined in the Term Credit Agreement) relating
solely to the 18-Month Tranche Loans, including Ascertainable Fees, but excluding the Interest Amount, in each case solely on account of the 18-Month Tranche Loans. 

Other capitalized terms used herein and not otherwise defined herein shall have the meanings specified in the Mortgage Indenture, unless
otherwise noted or the context otherwise requires. 

  
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 The Trustee (as defined herein) may conclusively presume that the obligation of the
Company to pay the principal of and interest with respect to this Bond shall have been fully satisfied and discharged unless and until it shall have received a written notice from the Registered Owner (specified above), signed by an authorized
officer of the Registered Owner, stating that the payment of principal of or interest with respect to this Bond has not been fully paid when due and specifying the amount of funds required to make such payment. The Trustee may also conclusively rely
on any written notice from an authorized officer of the Registered Owner with respect to the principal amount Outstanding at any time on this Bond and the interest payable with respect to this Bond at any time and the date or dates on which such
principal and interest are payable. 
 Payments of the principal of and interest with respect to this Bond shall be made at the
Corporate Trust Office of the Trustee located initially in Los Angeles, California or at such other office or agency as may be designated for such purpose by the Company from time to time. Payment of the principal of and interest with respect to
this Bond, as aforesaid, shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts. 

The Maturity Date of this Bond specified above shall be coincident with the 18-Month Tranche Maturity
Date (as defined in the Term Credit Agreement) corresponding to the 18-Month Tranche Loans (as such Maturity Date may be extended, without amendment hereof, pursuant to the terms of the Term Credit Agreement
of the Term Credit Agreement and the procedures identified in Section 601 of the Thirteenth Supplemental Indenture). 
 REFERENCE IS
HEREBY MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 

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

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

Dated: ________________ 
  

			
	 PACIFIC GAS AND ELECTRIC COMPANY

		
	 By
	 	 
		
	 By
	 	 

  
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 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is the Bond of the series designated as the Bond of the Thirty-Fourth Series (Replacement A) referred to in the within-mentioned Mortgage
Indenture. 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	 By
	 	 
		 	Authorized Signatory

 Dated: 

  
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 [FORM OF REVERSE OF BOND OF THE THIRTY-FOURTH SERIES (REPLACEMENT A)] 

This Bond of the Thirty-Fourth Series (Replacement A) (this “Bond”) is one of a duly authorized issue of Bonds of the Company
(the “Bonds”) issued and issuable in one or more series under and equally secured by an Indenture of Mortgage, dated as of June 19, 2020 (such Indenture as originally executed and delivered and as supplemented or amended from
time to time thereafter, together with any constituent instruments establishing the terms of particular Bonds, being herein called the “Mortgage Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A.,
as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Mortgage Indenture), and reference is hereby made to the Mortgage Indenture for a description of the property mortgaged, pledged and held
in trust, the nature and extent of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of the Bonds thereunder and of the terms and conditions upon which the Bonds are, and
are to be, authenticated and delivered. The acceptance of this Bond shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Mortgage Indenture. This Bond is limited in face amount
(maximum principal amount) to $298,235,897.44. 
 This Bond is issued to the Administrative Agent by the Company pursuant to the
Company’s obligations under the Loan Documents. 
 This Bond is not subject to redemption prior to the Maturity Date specified above.

 As provided in the Mortgage Indenture and subject to certain limitations therein set forth, this Bond or any portion of the principal
amount hereof will be deemed to have been paid for all purposes of the Mortgage Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been
irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any
reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and interest with respect to this Bond when due. 

If an Event of Default (as defined in the Term Credit Agreement) shall have occurred under Section 8 of the Term Credit Agreement by reason of
a failure by the Company to make a payment with respect to any Obligation when the same shall be due and payable (including by acceleration) pursuant to the Loan Documents, it shall be deemed to be an Event of Default, for purposes of Section 10.01
of the Mortgage Indenture, in payment of an amount of principal of this Bond equal to the amount of such unpaid Obligation (but, in no event, in excess of the face amount (maximum principal amount) of this Bond). If an Event of Default (as defined
in the Term Credit Agreement) shall have occurred under Section 8 of the Term Credit Agreement by reason of a failure by the Company to make a payment of any Interest Amount or any other Obligation when the same shall be due and payable (including
by acceleration) pursuant to the Loan Documents, it shall be deemed to be an Event of Default, for purposes of Section 10.01 of the Mortgage Indenture, in the payment of an amount of interest with respect to this Bond equal to the amount of such
unpaid Interest Amount or amount of such other Obligation. The Company’s obligation with respect to this Bond 

  
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shall be fully satisfied when (and the holder hereof shall surrender this Bond to, or upon the order of, the Company for cancellation) the Term Credit Agreement shall have been terminated and all
of the Obligations and Interest Amounts then due and payable shall have been duly paid by the Company. At the time of surrender of this Bond, the holder hereof shall deliver such appropriate instruments of transfer or release as may reasonably be
requested by the Company. 
 If an Event of Default shall occur and be continuing as provided in the Mortgage Indenture, the Trustee or the
Holders of not less than 25% in aggregate principal amount of Bonds then Outstanding, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to the Company (and
to the Trustee if given by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be due and payable
immediately without further action by the Trustee or the Holders. 
 The Mortgage Indenture permits, with certain exceptions as therein
provided, the Company and the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Mortgage Indenture with the consent of the
Holders of not less than a majority in aggregate principal amount of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Mortgage Indenture
and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding
Bonds of all series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall
directly affect the rights of the Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so directly affected,
considered as one class, shall be required; and provided, further, that the Mortgage Indenture permits the Company and the Trustee to enter into one or more supplemental indentures for certain purposes without the consent of any Holders of
Bonds; and provided, further, that for the avoidance of doubt, the foregoing shall not change the voting requirements under Section 14.02 of the Mortgage Indenture, which for the avoidance of doubt, require the consent of the Holders of
each Outstanding Bond of each series or Tranche in certain circumstances. The Mortgage Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf of the Holders of all such Bonds, to
waive certain past defaults under the Mortgage Indenture and their consequences. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond 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 Bond. Notwithstanding the foregoing, no supplemental indenture shall amend, modify or waive any
provision of Section 10.07 of the Mortgage Indenture without the consent of the Holders. 

  
 E-9 

 As provided in and subject to the provisions of the Mortgage Indenture, the Holder of this
Bond shall not have the right to institute any proceeding with respect to the Mortgage Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written
notice of a continuing Event of Default, the Holders of at least 25% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as
Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds at the time Outstanding a direction inconsistent with such written request,
and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Bond for the enforcement of any payment of
principal hereof or interest with respect hereto on or after the respective due dates expressed herein. 
 No reference herein to the
Mortgage Indenture and no provision of this Bond or of the Mortgage Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest with respect to this Bond at the times,
place and rate, and in the coin or currency, herein prescribed. 
 For all purposes of the Mortgage Indenture, the principal amount of this
Bond Outstanding as of any date of calculation shall be equal to the Obligations outstanding under the Loan Documents as of such date. 

This Bond is issuable in the denomination of $298,235,897.44 or such lesser amount equal to the face amount of this Bond as provided herein.

 As provided in the Mortgage Indenture and subject to certain limitations set forth therein and herein, the transfer of this Bond is
registrable in the Bond Register, upon surrender of this Bond for registration of transfer at the office or agency of the Company in any place where the principal of and interest with respect to this Bond are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon
one or more new Bonds of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

Before any transfer of this Bond by the Holder or such Holder’s legal representative will be recognized or given effect by the Company or
the Trustee, the Holder shall note the then current principal amount payable on this Bond, the interest accrued to the date of such transfer and the then current face amount of this Bond, and shall notify the Company and the Trustee of the name and
address of the transferee and shall afford the Company and the Trustee the opportunity of verifying the notation as to such then current principal amount payable on this Bond, the interest accrued to the date of such transfer and the then current
face amount of this Bond. By acceptance hereof the Holder of this Bond and each transferee shall be deemed to have agreed to indemnify and hold harmless the Company and the Trustee against all losses, claims, damages or liability arising out of any
failure on part of the Holder or of any such transferee to comply with the requirements of the preceding sentence. 

  
 E-10 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to
due presentment of this Bond for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Bond is registered as the owner hereof for all purposes, whether or not this Bond
is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This Bond shall be
governed by, and construed and enforced in accordance with, the laws of the State of New York without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be applicable. 

As provided in the Mortgage Indenture, no recourse shall be had for the payment of the principal of or interest with respect to this Bond, or
any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the Mortgage Indenture, against any incorporator, shareholder, officer or
director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute
or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Mortgage Indenture and all the Bonds are solely corporate obligations and that any such personal liability is hereby
expressly waived and released as a condition of, and as part of the consideration for, the execution of the Mortgage Indenture and the issuance of this Bond. 

Anything in this Bond, the Mortgage Indenture, or the Loan Documents to the contrary notwithstanding, any payment by the Company of principal
of or interest on this Bond shall be applied by the holder hereof to the payment of any amounts owing by the Company on the Obligations and Interest Amounts that are then due or are to become due, and shall, to the extent of such application, for
all purposes, satisfy and discharge the obligation of the Company to make such payment on such Obligations and Interest Amounts, respectively. 

Anything in this Bond, the Mortgage Indenture, or the Loan Documents to the contrary notwithstanding, any payment by the Company of the
Obligations and Interest Amounts pursuant to the Loan Documents shall, to the extent thereof, for all purposes, satisfy and discharge the obligation of the Company to make a payment of principal or interest, as the case may be, in respect of this
Bond that is then due or is to become due; provided, that any such payment of the Obligations and Interest Amounts pursuant to the Loan Documents shall not reduce the face amount (maximum principal amount) of this Bond. 

  
 E-11 

 ASSIGNMENT FORM 

To assign this Bond, fill in the form below: (1) or (we) assign and transfer this Bond to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name, address and zip
code) 
 and irrevocably
appoint                                        
                                         
                                         
                                         
              to transfer this Bond on the books of the Company. The agent may substitute another to act for him. 

 
  

Date:                      

 

			
		
	Your signature:	 	 

 
			
	(Sign exactly as your name appears on the face of this Bond)
		
	Tax Identification No.:	 	 

 
			
	
	SIGNATURE GUARANTEE:
	
	 
	
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934,
as amended.

  
 E-12 

 SCHEDULE 1 

RECORDING INFORMATION 
 This
Schedule 1 is hereby incorporated into and made a part of the Thirteenth Supplemental Indenture. The Thirteenth Supplemental Indenture (or a memorandum describing such Thirteenth Supplemental Indenture) shall be recorded in the Official
Records of the County (as defined above) in order to put third parties on record notice with respect thereto. 
 The Mortgage Indenture was
initially recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument numbers set forth in column A below. 

The Memorandum of Supplemental First Mortgage Indentures, dated as of August 12, 2020 (the “2020 Memorandum”)
was recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument numbers set forth in column B below. 

Certain parcels of real property located in certain counties have been released from the lien of the Mortgage Indenture, as set forth in the
2020 Partial Release (as defined below). To the extent applicable, the Certificate of Partial Release of Lien, dated as of December 15, 2020 (the “2020 Partial Release”) was recorded in the Official Records of
the County on the applicable recording dates and at the applicable instrument numbers set forth in column C below. 
 The Seventh
Supplemental Indenture, dated as of November 16, 2020 (the “Seventh Supplemental Indenture”) was recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument
numbers set forth in column D below. 
 The Eighth Supplemental Indenture, dated as of March 11, 2021 (the “Eighth
Supplemental Indenture”) was recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument numbers set forth in column E below. 

Certain parcels of real property located in certain counties have been released from the lien of the Mortgage Indenture, as set forth in the
2021 Partial Release (as defined below). To the extent applicable, the Certificate of Partial Release of Lien, dated as of September 9, 2021 (the “2021 Partial Release”) was recorded in the Official Records of
the County on the applicable recording dates and at the applicable instrument numbers set forth in column F below. 
 The Memorandum of
Supplemental First Mortgage Indentures, dated as of August 31, 2021 (the “2021 Memorandum”) was recorded in the Official Records of the County on the applicable recording dates and at the applicable instrument numbers set
forth in column G below. 

  
 Sch 1-1 

									
	 	  	 A
	  	 B
	  	 C
	  	 D

	County	  	Recording Date &
Instrument Number	  	Recording Date &
Instrument Number	  	Recording Date &
Instrument Number	  	Recording Date & Instrument
Number
	 	  	 (Indenture of Mortgage,
dated as
of June 19, 2020)
	  	  

(Memorandum of Supplemental
First Mortgage Indentures,
dated as of
August 12, 2020)
	  	  

(Certificate of Partial Release of
Lien, dated as
of
December 15, 2020)
	  	 (Seventh Supplemental Indenture,
dated as of
November 16, 2020) 

					
	Alameda	  	 Date: 7/8/2020

Instrument: 2020159002
	  	 Date: 8/19/2020

Instrument: 2020203390
	  	—	  	 Date: 3/8/2021

Instrument: 2021094794

					
	Alpine	  	 Date: 7/8/2020

Instrument: Ins.000313
	  	 Date: 8/21/2020

Instrument: 2020000409
	  	—	  	 Date: 2/26/2021

Instrument: 2021-000224

					
	Amador	  	 Date: 7/7/2020

Instrument: 2020-0005302
	  	 Date: 8/19/2020

Instrument: 2020-
0006984-00
	  	—	  	 Date: 3/8/2021

Instrument: 20210002728

					
	Butte	  	 Date: 7/7/2020

Instrument: 2020-0026656
	  	 Date: 8/19/2020

Instrument: 2020-0033263
	  	—	  	 Date: 2/24/2021

Instrument: 2021-0008993

					
	Calaveras	  	 Date: 7/7/2020

Instrument: 2020-008603
	  	 Date: 8/19/2020

Instrument: 2020-011334
	  	—	  	 Date: 2/24/2021

Instrument: 2021-003707

					
	Colusa	  	 Date: 7/13/2020

Instrument: 2020-0002012
	  	 Date: 8/19/2020

Instrument: 2020-0002404
	  	—	  	 Date: 2/25/2021

Instrument: 2021-0000922

					
	Contra
Costa	  	 Date: 7/10/2020

Instrument: 2020-
0137967-00
	  	 Date: 8/24/2020

Instrument: 2020-0179597
	  	—	  	 Date: 3/8/2021

Instrument: 2021-0068856

					
	El
Dorado	  	 Date: 7/7/2020

Instrument: 2020-
0033173-00
	  	 Date: 8/19/2020

Instrument: 2020-
0042892-00
	  	—	  	 Date: 3/4/2021

Instrument: 2021-0014976

					
	Fresno	  	 Date: 7/7/2020

Instrument: 2020-0084490
	  	 Date: 8/20/2020

Instrument: 2020-0108156
	  	—	  	 Date: 2/24/2021

Instrument: 2021-0031297

					
	Glenn	  	 Date: 7/8/2020

Instrument: 2020-2622
	  	 Date: 8/25/2020

Instrument: 2020-3320
	  	—	  	 Date: 2/25/2021

Instrument: 2021-0901

					
	Humboldt	  	 Date: 7/14/2020

Instrument: 2020-011590
	  	 Date: 8/24/2020

Instrument: 2020-014544
	  	—	  	 Date: 3/5/2021

Instrument: 2021005120

					
	Kern	  	 Date: 7/7/2020

Instrument: 220088046
	  	 Date: 8/19/2020

Instrument: 220113312
	  	 Date: 12/29/2020

Instrument: 220202055
	  	 Date: 2/24/2021

Instrument: 221034332

  
 Sch 1-2 

									
	 	  	 A
	  	 B
	  	 C
	  	 D

	County	  	Recording Date &
Instrument Number	  	Recording Date &
Instrument Number	  	Recording Date &
Instrument Number	  	Recording Date & Instrument
Number
	 	  	 (Indenture of Mortgage,
dated as
of June 19, 2020)
	  	  

(Memorandum of Supplemental
First Mortgage Indentures,
dated as of
August 12, 2020)
	  	  

(Certificate of Partial Release of
Lien, dated as
of
December 15, 2020)
	  	 (Seventh Supplemental Indenture,
dated as of
November 16, 2020) 

					
	Kings	  	 Date: 7/7/2020

Instrument: 2011843
	  	 Date: 8/21/2020

Instrument: 2015093
	  	—	  	 Date: 2/24/2021

Instrument: 2104019

					
	Lake	  	 Date: 7/7/2020

Instrument: 2020008082
	  	 Date: 8/19/2020

Instrument: 2020010193
	  	—	  	 Date: 2/24/2021

Instrument: 2021003293

					
	Lassen	  	 Date: 7/8/2020

Instrument: 2020-02654
	  	 Date: 8/20/2020

Instrument: 2020-03389
	  	—	  	 Date: 2/25/2021

Instrument: 2021-00982

					
	Madera	  	 Date: 7/7/2020

Instrument: 2020015446
	  	 Date: 8/19/2020

Instrument: 2020019584
	  	—	  	 Date: 3/9/2021

Instrument: 2021007361

					
	Marin	  	 Date: 7/7/2020

Instrument: 2020-0028741
	  	 Date: 8/19/2020

Instrument: 2020-0037600
	  	—	  	 Date: 2/24/2021

Instrument: 2021-0013112

					
	Mariposa	  	 Date: 7/7/2020

Instrument: 20202190
	  	 Date: 8/20/2020

Instrument: 20202821
	  	—	  	 Date: 3/4/2021

Instrument: 20211080

					
	Mendocino	  	 Date: 7/7/2020

Instrument: 202007917
	  	 Date: 8/19/2020

Instrument: 2020-10112
	  	—	  	 Date: 2/24/2021

Instrument: 2021-02892

					
	Merced	  	 Date: 7/7/2020

Instrument: 2020022266
	  	 Date: 8/19/2020

Instrument: 2020028493
	  	—	  	 Date: 2/24/2021

Instrument: 2021008602

					
	Modoc	  	 Date: 7/7/2020

Instrument: 20200001804
	  	 Date: 8/19/2020

Instrument: 20200002135
	  	—	  	 Date: 2/24/2021

Instrument: 20210000422

					
	Monterey	  	 Date: 7/7/2020

Instrument: 2020032685
	  	 Date: 8/19/2020

Instrument: 2020042185
	  	—	  	 Date: 2/24/2021

Instrument: 2021014097

					
	Napa	  	 Date: 7/7/2020

Instrument: 2020-0016006
	  	 Date: 8/20/2020

Instrument: 2020-0020526
	  	—	  	 Date: 3/4/2021

Instrument: 2021-0008728

					
	Nevada	  	 Date: 7/7/2020

Instrument: 20200015164
	  	 Date: 8/25/2020

Instrument: 20200020840
	  	—	  	 Date: 3/4/2021

Instrument: 20210007838

					
	Placer	  	 Date: 7/7/2020

Instrument: 2020-0067740
	  	 Date: 8/19/2020

Instrument: 2020-0087937-00
	  	—	  	 Date: 2/24/2021

Instrument: 20210026083-00

					
	Plumas	  	 Date: 7/9/2020

Instrument: 2020-0003422
	  	 Date: 8/20/2020

Instrument: 2020-0004742
	  	—	  	 Date: 3/11/2021

Instrument: 2021-0001758

					
	Sacramento	  	 Date: 7/7/2020

Instrument:
Ins-202007071055
	  	 Date: 8/19/2020

Instrument: 202008190892
	  	—	  	 Date: 2/24/2021

Instrument: 202102241076

					
	San Benito	  	 Date: 7/7/2020

Instrument: 2020-0007874
	  	 Date: 8/19/2020

Instrument: 2020-0010072
	  	—	  	 Date: 3/4/2021

Instrument: 2021-0003400

					
	San
Bernardino	  	 Date: 7/7/2020

Instrument: 2020-0226134
	  	 Date: 8/19/2020

Instrument: 2020-0294961
	  	—	  	 Date: 2/24/2021

Instrument: 2021-0087782

					
	San
Francisco	  	 Date: 7/7/2020

Instrument: 2020-
K949017-00
	  	 Date: 8/19/2020

Instrument: 2020006126
	  	—	  	 Date: 2/24/2021

Instrument: 2021036477

					
	San
Joaquin	  	 Date: 7/7/2020

Instrument: 2020-080390
	  	 Date: 8/19/2020

Instrument: 2020-103840
	  	—	  	 Date: 2/24/2021

Instrument: 2021-033997

					
	San Luis
Obispo	  	 Date: 7/7/2020

Instrument: 2020033897
	  	 Date: 8/19/2020

Instrument: 2020043805
	  	 Date: 3/5/2021

Instrument: 2021017044
	  	 Date: 3/8/2021

Instrument: 2021017458

  
 Sch 1-3 

									
	 	  	 A
	  	 B
	  	 C
	  	 D

	County	  	Recording Date &
Instrument Number	  	Recording Date &
Instrument Number	  	Recording Date &
Instrument Number	  	Recording Date & Instrument
Number
	 	  	 (Indenture of Mortgage,
dated as
of June 19, 2020)
	  	  

(Memorandum of Supplemental
First Mortgage Indentures,
dated as of
August 12, 2020)
	  	  

(Certificate of Partial Release of
Lien, dated as
of
December 15, 2020)
	  	 (Seventh Supplemental Indenture,
dated as of
November 16, 2020) 

					
	San
Mateo	  	 Date: 7/7/2020

Instrument: 2020064008
	  	 Date: 8/21/2020

Instrument: 2020-084135
	  	—	  	 Date: 2/24/2021

Instrument: 2021-030961

					
	Santa
Barbara	  	 Date: 7/13/2020

Instrument: 2020-0034969
	  	 Date: 8/19/2020

Instrument: 2020-0043690
	  	—	  	 Date: 2/24/2021

Instrument: 2021-0014736

					
	Santa
Clara	  	 Date: 7/7/2020

Instrument: 24528422
	  	 Date: 8/19/2020

Instrument: 24580344
	  	—	  	 Date: 2/24/2021

Instrument: 24845255

					
	Santa
Cruz	  	 Date: 7/7/2020

Instrument: 2020-0024403
	  	 Date: 8/19/2020

Instrument: 2020-0031634
	  	—	  	 Date: 2/24/2021

Instrument: 2021-0011369

					
	Shasta	  	 Date: 7/7/2020

Instrument: 2020-0021039
	  	 Date: 8/19/2020

Instrument: 2020-0027008
	  	 Date: 12/29/2020

Instrument: 2020-0047326
	  	 Date: 2/24/2021

Instrument: 2021-0007584

					
	Sierra	  	 Date: 7/9/2020

Instrument: 2020171226
	  	 Date: 8/20/2020

Instrument: 2020171540
	  	—	  	 Date: 2/25/2021

Instrument: 2020172589

					
	Solano	  	 Date: 7/7/2020

Instrument: Ins-202000054277
	  	 Date: 8/19/2020

Instrument: 202000069597
	  	—	  	 Date: 2/24/2021

Instrument: 202100021149

					
	 Sonoma
	  	 Date: 7/9/2020

Instrument: 2020055917
	  	 Date: 8/19/2020

Instrument: 2020070874
	  	—	  	 Date: 2/24/2021

Instrument: 2021021837

					
	Stanislaus	  	 Date: 7/8/2020

Instrument: 2020-0047771
	  	 Date: 8/19/2020

Instrument: 2020-0061515-00
	  	—	  	 Date: 2/24/2021

Instrument: 2021-0017942-00

					
	Sutter	  	 Date: 7/8/2020

Instrument: 2020-0009800
	  	 Date: 8/19/2020

Instrument: 2020-0012784
	  	—	  	 Date: 2/24/2021

Instrument: 20210003735

					
	Tehama	  	 Date: 7/7/2020

Instrument: 2020007674
	  	 Date: 8/19/2020

Instrument: 2020009820
	  	—	  	 Date: 2/24/2021

Instrument: 2021002378

					
	Trinity	  	 Date: 7/8/2020

Instrument: 202002224
	  	 Date: 8/20/2020

Instrument: 202002748
	  	—	  	 Date: 2/25/2021

Instrument: 202100581

					
	Tulare	  	 Date: 7/7/2020

Instrument: 2020-0039416
	  	 Date: 8/26/2020

Instrument: 2020-0049011
	  	—	  	 Date: 3/2/2021

Instrument: 2021-0015218

					
	Tuolumne	  	 Date: 7/7/2020

Instrument: 2020007628
	  	 Date: 8/19/2020

Instrument: 2020009759
	  	—	  	 Date: 3/2/2021

Instrument: 2021003503

					
	Yolo	  	 Date: 7/8/2020

Instrument: 2020-0020467
	  	 Date: 8/19/2020

Instrument: 2020-0026550
	  	 Date: 3/8/2021

Instrument: 2021-0009288
	  	 Date: 3/8/2021

Instrument: 2021-0009289

					
	Yuba	  	 Date: 7/8/2020

Instrument: 2020-010218
	  	 Date: 8/19/2020

Instrument: 2020-012939
	  	—	  	 Date: 2/24/2021

Instrument: 2021-003119

  
 Sch 1-4 

							
	 	  	 E
	  	 F
	  	 G

	County	  	 Recording Date & Instrument Number

 
 (Eighth Supplemental

Indenture, dated as of March 11, 2021)
	  	 Recording Date & Instrument Number

 
 (Certificate of Partial Release

of Lien, dated as of
September 9, 2021)
	  	 Recording Date & Instrument Number

 

(Memorandum of Supplemental First Mortgage
Indentures, dated as 
of August 31, 2021) 

				
	Alameda	  	 Date: 06/15/2021

Instrument: 2021215933
	  	—	  	 Date: 09/14/2021

Instrument: 2021309420

				
	Alpine	  	 Date: 06/16/2021

Instrument: 2021000559
	  	—	  	 Date: 09/14/2021

Instrument: 2021-000769

				
	Amador	  	 Date: 06/15/2021

Instrument: 2021-0007084
	  	—	  	 Date: 09/15/2021

Instrument: 2021-0010656

				
	Butte	  	 Date: 06/17/2021

Instrument: 2021-0027732
	  	—	  	 Date: 09/10/2021

Instrument: 2021-0040855

				
	Calaveras	  	 Date: 06/15/2021

Instrument: 2021-011005
	  	—	  	 Date: 09/16/2021

Instrument: 2021-016140

				
	Colusa	  	 Date: 06/17/2021

Instrument: 2021-0002508
	  	—	  	 Date: 09/14/2021

Instrument: 2021-0003762

				
	Contra Costa	  	 Date: 06/15/2021

Instrument: 2021-0172986
	  	Date: 09/13/2021
Instrument: 2021-0254505	  	 Date: 09/22/2021

Instrument: 2021-0263934

				
	El Dorado	  	 Date: 06/15/2021

Instrument: 2021-0039831
	  	—	  	 Date: 09/13/2021

Instrument: 2021-0058502

				
	Fresno	  	 Date: 06/15/2021

Instrument: 2021-0097447
	  	—	  	 Date: 09/13/2021

Instrument: 2021-0148962

				
	Glenn	  	 Date: 06/23/2021

Instrument: 2021-2872
	  	—	  	 Date: 09/10/2021

Instrument: 2021-4123

				
	Humboldt	  	 Date: 06/24/2021

Instrument: 2021-014188
	  	—	  	 Date: 09/15/2021

Instrument: 2021-020689

				
	Kern	  	 Date: 06/15/2021

Instrument: 221112026
	  	—	  	Date: 09/14/2021
Instrument: 221174492
				
	Kings	  	 Date: 06/15/2021

Instrument: 2113322
	  	—	  	 Date: 09/17/2021

Instrument: 2120473

				
	Lake	  	 Date: 06/16/2021

Instrument: 2021010225
	  	—	  	 Date: 09/13/2021

Instrument: 2021-015134

				
	Lassen	  	 Date: 06/18/2021

Instrument: 2021-03286
	  	—	  	 Date: 09/13/2021

Instrument: 2021-04857

				
	Madera	  	 Date: 06/15/2021

Instrument: 2021019093
	  	—	  	 Date: 09/10/2021

Instrument: 2021028583

				
	Marin	  	 Date: 06/15/2021

Instrument: 2021-0039212
	  	—	  	 Date: 09/10/2021

Instrument: 2021-0056705

				
	Mariposa	  	 Date: 06/15/2021

Instrument: 20212780
	  	—	  	 Date: 09/23/2021

Instrument: 20214302

  
 Sch. 1-5 

							
	 	  	 E
	  	 F
	  	 G

	County	  	 Recording Date & Instrument Number

 
 (Eighth Supplemental

Indenture, dated as of March 11, 2021)
	  	 Recording Date & Instrument Number

 
 (Certificate of Partial Release

of Lien, dated as of
September 9, 2021)
	  	 Recording Date & Instrument Number

 

(Memorandum of Supplemental First Mortgage

Indentures, dated as of August 
31, 2021) 

				
	Mendocino	  	 Date: 06/16/2021

Instrument: 2021-09192
	  	—	  	 Date: 09/17/2021

Instrument: 2021-14137

				
	Merced	  	 Date: 06/15/2021

Instrument: 2021026546
	  	—	  	 Date: 09/13/2021

Instrument: 2021040766

				
	Modoc	  	 Date: 06/15/2021

Instrument: 20210001695
	  	—	  	 Date: 09/10/2021

Instrument: 20210002777

				
	Monterey	  	 Date: 06/17/2021

Instrument: 2021042424
	  	—	  	 Date: 09/13/2021

Instrument: 2021061137

				
	Napa	  	 Date: 06/15/2021

Instrument: 2021-0020222
	  	—	  	 Date: 09/13/2021

Instrument: 2021-0029107

				
	Nevada	  	 Date: 06/15/2021

Instrument: 20210020480
	  	—	  	 Date: 09/13/2021

Instrument: 20210030075

				
	Placer	  	 Date: 06/15/2021

Instrument: 2021-0077769-00
	  	—	  	 Date: 09/10/2021

Instrument: 2021-0114356-00

				
	Plumas	  	 Date: 06/18/2021

Instrument: 2021-4121
	  	Date: 09/21/2021
Instrument: 2021-0006513	  	 Date: 09/24/2021

Instrument: 2021-0006605

				
	Sacramento	  	 Date: 06/18/2021

Instrument: 202106180534
	  	—	  	 Date: 09/13/2021

Instrument: 202109130797

				
	San Benito	  	 Date: 06/23/2021

Instrument: 2021-0009669
	  	—	  	 Date: 09/20/2021

Instrument: 2021-0014111

				
	San Bernardino	  	 Date: 06/15/2021

Instrument: 2021-0270300
	  	—	  	 Date: 09/10/2021

Instrument: 2021-0414379

				
	San Francisco	  	 Date: 06/16/2021

Instrument: 2021096597
	  	—	  	 Date: 09/20/2021

Instrument: 2021147122

				
	San Joaquin	  	 Date: 06/15/2021

Instrument: 2021-102076
	  	—	  	 Date: 09/10/2021

Instrument: 2021-152907

				
	San Luis Obispo	  	 Date: 06/15/2021

Instrument: 2021042772
	  	—	  	 Date: 09/10/2021

Instrument: 2021062407

				
	San Mateo	  	 Date: 06/15/2021

Instrument: 2021-090929
	  	—	  	 Date: 09/14/2021

Instrument: 2021-132011

				
	Santa Barbara	  	 Date: 06/16/2021

Instrument: 2021-0045121
	  	—	  	 Date: 09/15/2021

Instrument: 2021-0065545

				
	Santa Clara	  	 Date: 06/15/2021

Instrument: 24996810
	  	 Date: 09/21/2021

Instrument: 25107264
	  	 Date: 09/22/2021

Instrument: 25109534

				
	Santa Cruz	  	 Date: 06/15/2021

Instrument: 2021-0032793
	  	—	  	 Date: 09/10/2021

Instrument: 2021-0046780

				
	Shasta	  	 Date: 06/15/2021

Instrument: 2021-0024897
	  	Date: 09/20/2021
Instrument: 2021-0039149	  	 Date: 09/22/2021

Instrument: 2021-0039480

				
	Sierra	  	 Date: 06/17/2021

Instrument: 2021173017
	  	—	  	 Date: 09/14/2021

Instrument: 2021173609

  
 Sch. 1-6 

									
	 	  	 E
	  	 F
	  	 G

	County	  	 Recording Date &

Instrument Number
	  	 Recording Date &

Instrument Number
	  	 Recording Date & Instrument Number

	 	  	  

(Eighth Supplemental
Indenture, dated as of March 11, 2021)
	  	  

(Certificate of Partial Release

of Lien, dated as of
September 9, 2021)
	  	  

(Memorandum of Supplemental First Mortgage

Indentures, dated as of August 
31, 2021) 

				
	Solano	  	 Date: 06/15/2021

Instrument: 202100064487
	  	—	  	 Date: 09/10/2021

Instrument: 202100095898

				
	Sonoma	  	 Date: 06/15/2021

Instrument: 2021070076
	  	—	  	 Date: 09/13/2021

Instrument: 2021102595

				
	Stanislaus	  	 Date: 06/16/2021

Instrument: 2021-0057206
	  	—	  	 Date: 10/05/2021

Instrument: 2021-0093766

				
	Sutter	  	 Date: 06/17/2021

Instrument: 2021-0011236
	  	—	  	 Date: 09/29/2021

Instrument: 2021-0017681

				
	Tehama	  	 Date: 06/15/2021

Instrument: 2021008603
	  	—	  	 Date: 09/10/2021

Instrument: 2021012840

				
	Trinity	  	 Date: 06/17/2021

Instrument: 202101938
	  	—	  	 Date: 09/13/2021

Instrument: 202105327

				
	Tulare	  	 Date: 06/15/2021

Instrument: 2021-0043754
	  	—	  	 Date: 09/10/2021

Instrument: 2021-0066763

				
	Tuolumne	  	 Date: 06/17/2021

Instrument: 2021009478
	  	—	  	 Date: 09/10/2021

Instrument: 2021014302

				
	Yolo	  	 Date: 06/16/2021

Instrument: 2021-0023598
	  	—	  	 Date: 09/10/2021

Instrument: 2021-0034493

				
	Yuba	  	 Date: 06/15/2021

Instrument: 2021-010827
	  	—	  	 Date: 09/10/2021

Instrument: 2021-016949

  
 Sch .1-7EX-10.48

 Exhibit 10.48 

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS
EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED. 
 LEASE 

281 SUMMER STREET LLC, 

Landlord, 
 and 

BRIGHTCOVE INC., 
 Tenant

 281 Summer Street 
 Boston,
Massachusetts 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1.
	 	 USE AND RESTRICTIONS ON USE
	  	 	1	 
			
	 2.
	 	 TERM
	  	 	4	 
			
	 3.
	 	 RENT
	  	 	5	 
			
	 4.
	 	 RENT ADJUSTMENTS
	  	 	6	 
			
	 5.
	 	 SECURITY DEPOSIT
	  	 	9	 
			
	 6.
	 	 ALTERATIONS
	  	 	9	 
			
	 7.
	 	 REPAIR
	  	 	11	 
			
	 8.
	 	 LIENS
	  	 	11	 
			
	 9.
	 	 ASSIGNMENT AND SUBLETTING
	  	 	12	 
			
	 10.
	 	     INDEMNIFICATION
	  	 	15	 
			
	 11.
	 	     INSURANCE
	  	 	15	 
			
	 12.
	 	     WAIVER OF SUBROGATION
	  	 	16	 
			
	 13.
	 	     SERVICES AND UTILITIES
	  	 	16	 
			
	 14.
	 	     HOLDING OVER
	  	 	19	 
			
	 15.
	 	     SUBORDINATION
	  	 	19	 
			
	 16.
	 	     RULES AND REGULATIONS
	  	 	20	 
			
	 17.
	 	     REENTRY BY LANDLORD
	  	 	20	 
			
	 18.
	 	     DEFAULT
	  	 	21	 
			
	 19.
	 	     REMEDIES
	  	 	21	 
			
	 20.
	 	     TENANT’S BANKRUPTCY OR INSOLVENCY
	  	 	25	 
			
	 21.
	 	     QUIET ENJOYMENT
	  	 	25	 
			
	 22.
	 	     CASUALTY
	  	 	26	 
			
	 23.
	 	     EMINENT DOMAIN
	  	 	27	 
			
	 24.
	 	     SALE BY LANDLORD
	  	 	27	 
			
	 25.
	 	     ESTOPPEL CERTIFICATES
	  	 	27	 
			
	 26.
	 	     SURRENDER OF PREMISES
	  	 	28	 
			
	 27.
	 	     NOTICES
	  	 	29	 
			
	 28.
	 	     TAXES PAYABLE BY TENANT
	  	 	29	 
			
	 29.
	 	     DEFINED TERMS AND HEADINGS
	  	 	29	 
			
	 30.
	 	     TENANT’S AUTHORITY
	  	 	30	 
			
	 31.
	 	     FINANCIAL STATEMENTS AND CREDIT REPORTS
	  	 	30	 
			
	 32.
	 	     COMMISSIONS
	  	 	30	 
			
	 33.
	 	     TIME AND APPLICABLE LAW
	  	 	30	 

  
 i 

							
			
	34.	 	    SUCCESSORS AND ASSIGNS	  	 	30	 
			
	 35.
	 	     ENTIRE AGREEMENT
	  	 	30	 
			
	 36.
	 	     EXAMINATION NOT OPTION
	  	 	31	 
			
	 37.
	 	     RECORDATION
	  	 	31	 
			
	 38.
	 	     SELF-HELP
	  	 	31	 
			
	 39.
	 	     LIMITATION OF LANDLORD’S LIABILITY
	  	 	31	 
			
	 40.
	 	     RIGHT OF FIRST OFFER
	  	 	31	 
			
	 41.
	 	     EXTENSION OPTIONS
	  	 	32	 
			
	 42.
	 	     ROOFTOP ANTENNA
	  	 	33	 
		
	 EXHIBIT A – FLOOR PLAN DEPICTING THE PREMISES
	  	 	1	 
		
	 EXHIBIT A-1 – SITE
PLAN
	  	 	1	 
		
	 EXHIBIT A – FLOOR PLAN DEPICTING THE PREMISES
	  	 	1	 
		
	 EXHIBIT A-2 – LEGAL DESCRIPTION OF
THE LOT
	  	 	1	 
		
	 EXHIBIT B — INITIAL ALTERATIONS
	  	 	1	 
		
	 EXHIBIT C – COMMENCEMENT DATE MEMORANDUM
	  	 	1	 
		
	 EXHIBIT D – RULES AND REGULATIONS
	  	 	1	 

  
 ii 

 GROSS (BY)-INS OFFICE LEASE 

REFERENCE PAGES 
  

			
	BUILDING:	  	 281 Summer Street
 Boston, Massachusetts 02210.
The land on which the Building is situated, together with the Building and any and all improvements on the land is referred to herein as the “Property”.

		
	LANDLORD:	  	281 Summer Street LLC, a Delaware limited liability company
		
	LANDLORD’S ADDRESS:	  	 c/o DWS - RREEF
 100 Summer Street, 8th Floor
 Boston, MA 02110

		
		  	with a copy to:
		
		  	 c/o CBRE, Inc.
 One Main Street

Cambridge, MA 02142
 Attn: [***]

		
	WIRE INSTRUCTIONS AND/OR ADDRESS FOR RENT PAYMENT:	  	Lockbox:
		
		  	[***]
		
		  	Wire Transfer:
		
		  	[***]
		
	LEASE REFERENCE DATE:	  	November 23, 2021
		
	TENANT:	  	Brightcove Inc., a Delaware corporation
		
	TENANT’S NOTICE ADDRESS:	  	
		
	 (a)   As of beginning of Term:
	  	 At the Premises
 Attn: General Counsel

[***]

  
 iii 

			
		
		  	And to:
		  	Attn: Chief Financial Officer
		
		  	With a copy to:
		
		  	 JLL
 One Post Office Square

26th Floor

Boston, MA 02109

		
	 (b)   Prior to beginning of Term (if different):
	  	 290 Congress
 Boston, MA 02210

To the Attention of: Chief Financial Officer
 With a copy to:
General Counsel
 [***]

		
	PREMISES ADDRESS:	  	 281 Summer Street
 Suites 600 & 700

Boston, Massachusetts 02210

		
	PREMISES RENTABLE AREA:	  	Approximately 39, 238 rentable square feet, consisting of approximately 19,614 rentable sq. ft. on the 6th floor, and 19,624 rentable sq. ft. on
the 7th floor of the Building (for outline of Premises see Exhibit A)
		
	SCHEDULED COMMENCEMENT DATE:	  	November 23, 2021
		
	COMMENCEMENT DATE:	  	As defined in Section 2.1.
		
	RENT COMMENCEMENT DATE:	  	October 1, 2022
		
	TERM OF LEASE:	  	The period beginning on the Commencement Date and ending on the Termination Date, subject to two (2), five (5) year Extension Options as set forth in Section 41 of this Lease.
		
	TERMINATION DATE:	  	The last day of the one hundred twentieth (120th) full calendar month after the Rent Commencement Date, unless extended or earlier terminated as provided in this Lease.

  
 iv 

 ANNUAL RENT and MONTHLY 

INSTALLMENT OF RENT (Article 3): 
  

																	
	 Period
	  	 Rentable Square

Footage
	  	Annual Rent Per
Square Foot	 	  	 	 	  	Monthly
Installment of Rent	 
	 From
	  	to	  	Annual Rent	 
	 Month 1
	  	Month 12	  	39,238 rsf	  	$	63.00	 	  	$	2,471,994.00	 	  	$	205,999.50	 
	 Month 13
	  	Month 24	  	39,238 rsf	  	$	64.26	 	  	$	2,521,433.88	 	  	$	210,119.49	 
	 Month 25
	  	Month 36	  	39,238 rsf	  	$	65.55	 	  	$	2,572,050.90	 	  	$	214,337.58	 
	 Month 37
	  	Month 48	  	39,238 rsf	  	$	66.86	 	  	$	2,623,452.68	 	  	$	218,621.06	 
	 Month 49
	  	Month 60	  	39,238 rsf	  	$	68.20	 	  	$	2,676,031.60	 	  	$	223,002.63	 
	 Month 61
	  	Month 72	  	39,238 rsf	  	$	69.56	 	  	$	2,729,395.28	 	  	$	277,449.61	 
	 Month 73
	  	Month 84	  	39,238 rsf	  	$	70.95	 	  	$	2,783,936.10	 	  	$	231,994.68	 
	 Month 85
	  	Month 96	  	39,238 rsf	  	$	72.37	 	  	$	2,839,654.06	 	  	$	236,637.84	 
	 Month 97
	  	Month 108	  	39,238 rsf	  	$	73.82	 	  	$	2,896,549.16	 	  	$	241,379.10	 
	 Month 109
	  	Month 120	  	39,238 rsf	  	$	75.30	 	  	$	2,954,621.40	 	  	$	246,218.45	 

 Month 1 is the period beginning on the Rent Commencement Date and ending at the end of the first (1st) full calendar month
of the Term (i.e. October 1, 2022 through October 31, 2022). Month 2 is the calendar month period immediately following Month 1; Month 3 is the calendar month following Month 2; and so forth, up to the Termination Date. 

All rental amounts are net of Tenant electricity. 
  

			
	BASE YEAR (EXPENSES):	  	2022
		
	BASE YEAR (TAXES):	  	Taxes for July 1, 2022 to June 30, 2023 (fiscal 2023)
		
	TENANT’S PROPORTIONATE SHARE:	  	25.647% (39,238/152,990)
		
	SECURITY DEPOSIT:	  	$823,998.00 (subject to the reduction provided in Section 5 herein)
		
	ASSIGNMENT/SUBLETTING FEE:	  	$1,500.00
		
	AFTER-HOURS HVAC COST:	  	$75.00 per hour, per air handling unit (“AHU”), subject to reasonable increases by Landlord from time to time. There are two (2) AHUs per floor.
		
	REAL ESTATE BROKER DUE COMMISSION:	  	[***]
		
	TENANT’S NAICS CODE:	  	511210
		
	BUILDING BUSINESS HOURS:	  	Monday through Friday 8:00 a.m. – 6:00 p.m. (excluding Massachusetts state holidays) Saturday 9:00 a.m. – 1:00 p.m.
		
	AMORTIZATION RATE:	  	8%

  
 v 

 The Reference Pages information is incorporated into and made a part of the Lease. In the event of any
conflict between any Reference Pages information and the Lease, the Lease shall control. This Lease includes Exhibits A through D, all of which are made a part of this Lease. 
  

									
	LANDLORD:	 		 	TENANT:
			
	281 SUMMER STREET LLC,	 		 	BRIGHTCOVE INC., a Delaware corporation
	a Delaware limited liability company	 		 		 	
					
	By:	 	 /s/ Gerald F. Ianetta
	 		 	By:	 	 /s/ Robert Noreck

	Name:	 	Gerald F. Ianetta	 		 	Name:	 	Robert Noreck
	Title:	 	Vice President	 		 	Title:	 	CFO
					
	By:	 	 /s/ David F. Crane
	 		 		 	
	Name:	 	David F. Crane	 		 		 	
	Title:	 	Vice President	 		 		 	

  
 vi 

 LEASE 

By this Lease Landlord leases to Tenant and Tenant leases from Landlord the Premises in the Building as set forth and described on the
Reference Pages. The Premises are depicted on the floor plan attached hereto as Exhibit A, and the Building is depicted on the site plan attached hereto as Exhibit A-1. The Building is
located on the Lot legally described on Exhibit A-2. The Reference Pages, including all terms defined thereon, are incorporated as part of this Lease. 

1. USE AND RESTRICTIONS ON USE. 
 1.1 The
Premises are to be used solely for general office purposes and lawful ancillary uses in commercial office buildings in the Seaport district of Boston that are similar to the Building (“Comparable Buildings”). Throughout the Term (and any
extension thereof), Tenant shall have non-exclusive access, on a first come, first served basis, to a bike storage (which is currently located in the basement of the Building) for the storage of bikes by
Tenant and its employees. Tenant shall not do or permit anything to be done in or about the Premises which will in any way obstruct or interfere with the rights of other tenants or occupants of the Building or injure or disturb them, or allow the
Premises to be used for any improper, immoral, unlawful, or objectionable purpose, or commit any waste. Tenant shall not do, permit or suffer in, on, or about the Premises the sale of any alcoholic liquor without the written consent of Landlord
first obtained. Tenant shall comply with all governmental laws, ordinances and regulations applicable to Tenant’s use of the Premises and Tenant’s occupancy. Tenant shall promptly comply with all governmental orders and directions for the
correction, prevention and abatement of any violations in the Building or appurtenant land, caused or permitted by, or resulting from the specific use by, Tenant, or in or upon, or in connection with, the Premises, all at Tenant’s sole expense.
Subject to Tenant’s obligations under this Section 1.1, Landlord shall, as part of Expenses (unless excluded therefrom), maintain the common areas of the Building, the structural elements of the Building and the base building systems
serving the Building in general in compliance with applicable Legal Requirements. Tenant shall not do or permit anything to be done on or about the Premises or bring or keep anything into the Premises which will in any way increase the rate of,
invalidate or prevent the procuring of any insurance protecting against loss or damage to the Building or any of its contents by fire or other casualty or against liability for damage to property or injury to persons in or about the Building or any
part thereof. Except for Landlord’s express obligations under this Lease, Tenant shall comply with all present and future laws (including, without limitation, Environmental Laws (as hereinafter defined), the Americans with Disabilities Act and
the regulations promulgated thereunder (the “ADA”), as the same may be amended from time to time), ordinances (including without limitation, zoning ordinances and land use requirements), regulations, orders and recommendations (including,
without limitation, those made by any public or private agency having authority over insurance rates), requirements, statutes, codes, by-laws and court decisions of the jurisdiction in which the Building is
located or the federal government (collectively, “Legal Requirements”) applicable to the Premises and to Tenant’s use of the Premises. Tenant shall promptly comply with all governmental orders and directions for the correction,
prevention and abatement of any violations in the Building or appurtenant land, if such violation resulted from the specific use of the Premises by Tenant (as opposed to general office use) or if such violation resulted from Alterations made by
Tenant, all at Tenant’s sole expense. After Landlord delivers the Premises to Tenant, Tenant shall proceed with due diligence to construct (in accordance with Exhibit B) the Tenant’s Work to the Premises. Tenant shall be responsible
to perform Tenant’s Work in accordance with all applicable Legal Requirements and, as part of Tenant’s Work, to install and maintain, at Tenant’s sole cost and expense (subject to the application of the TI Allowance) the Premises HVAC
Work and the Premises Fire/Life Safety Work (as defined in Exhibit B) serving the Premises. Landlord shall comply with all Legal Requirements applicable to the Premises as to which Tenant is not liable and Landlord shall comply with all Legal
Requirements applicable to the common areas, the Building (other than rentable areas thereof) and to the Systems and Equipment (as such term is defined in Section 7.1 below). 

 1.2 Tenant shall not, and shall not direct, suffer or permit any of its agents, contractors,
employees, licensees or invitees (collectively, the “Tenant Entities”) to at any time handle, use, manufacture, store or dispose of in or about the Premises or the Building any (collectively “Hazardous Materials”) flammables,
explosives, radioactive materials, hazardous wastes or materials, toxic wastes or materials, or other similar substances, petroleum products or derivatives or any substance subject to regulation by or under any federal, state and local laws and
ordinances relating to the protection of the environment or the keeping, use or disposition of environmentally hazardous materials, substances, or wastes, presently in effect or hereafter adopted, all amendments to any of them, and all rules and
regulations issued pursuant to any of such laws or ordinances (collectively “Environmental Laws”), nor shall Tenant suffer or permit any Hazardous Materials to be used in any manner not fully in compliance with all Environmental Laws, in
the Premises or the Building and appurtenant land or allow the environment to become contaminated with any Hazardous Materials. Notwithstanding the foregoing, Tenant may handle, store, use or dispose of products containing small quantities of
Hazardous Materials (such as aerosol cans containing insecticides, toner for copiers, paints, paint remover and the like) to the extent customary and necessary for the use of the Premises for general office purposes; provided that Tenant shall
always handle, store, use, and dispose of any such Hazardous Materials in a safe and lawful manner and never allow such Hazardous Materials to contaminate the Premises, Building and appurtenant land or the environment. Tenant shall protect, defend,
indemnify and hold each and all of the Landlord Entities (as defined in Article 30) harmless from and against any and all loss, claims, liability or costs (including court costs and attorney’s fees) incurred by reason of any actual or asserted
failure of Tenant to fully comply with all applicable Environmental Laws, or the presence, handling, use or disposition in or from the Premises of any Hazardous Materials by Tenant or any Tenant Entity (even though permissible under all applicable
Environmental Laws or the provisions of this Lease), or by reason of any actual or asserted failure of Tenant to keep, observe, or perform any provision of this Section 1.2. Landlord shall remove, remediate or abate, if and to the extent
required by, and in accordance with, applicable laws (x) Hazardous Materials located in the common areas, the structural elements or the base building systems of the Building, (y) Hazardous Materials that are present in the Building
(including the Premises) as the result of the actions of Landlord, its agents, employees or contractors, or (z) Hazardous Materials which are determined to have been in, at or on the Premises prior to the Commencement Date (the
“Remediation Obligations”). Notwithstanding the foregoing, Landlord’s obligation to remove, remediate or abate Hazardous Materials pursuant to this Section 1.2 shall not apply to requirements of Environmental Laws resulting from
the use of Hazardous Materials by Tenant or Tenant’s agents, employees, contractors, subtenants, invitees or anyone claiming by, through or under Tenant. The Remediation Obligations of Landlord shall be performed promptly and in such a manner
so as to minimize interference with Tenant’s use and occupancy of the Premises. If the performance of the Remediation Obligations or Landlord’s failure to perform the Remediation Obligations prohibits or interferes with Tenant’s
ability to perform Tenant’s Work, the Premises HVAC Work and/or the Premises Fire/Life Safety Work then it shall be considered a “Landlord Delay” (as such term is further defined in Exhibit B). In addition, if the performance of the
Remediation Obligations or Landlord’s failure to perform the Remediation Obligations prohibits or interferes with Tenant’s ability to conduct business from the Premises, then Tenant will be entitled to an equitable abatement of Annual
Rent, Tenant’s Proportionate Share of Expenses and Tenant’s Proportionate Share of Taxes (or if no Rent is then due, Tenant shall receive a credit) for the period of such interference with respect to that portion of the Premises that
Tenant is not able to use and occupy. 
 1.3 The Tenant shall have, as appurtenant to the Premises, rights to use in common with others
entitled thereto: 
 1.3.1 the common facilities included in the Building or the Lot, including common walkways, driveways, lobbies,
hallways, ramps, stairways and elevators; 

  
 2 

 1.3.2 the riser closets, shafts, raceways, pipes, ducts, conduits, wires and appurtenant
equipment serving the Premises; and 
 1.3.3 if the Premises include less than the entire rentable area of any floor, the common toilets in
the central core area of such floor. 
 Such rights shall always be subject to the Rules and Regulations set forth in Exhibit D as the same may be
reasonably amended by the Landlord from time to time, and such other reasonable rules and regulations from time to time established by Landlord by suitable notice, and to the right of Landlord to designate and change from time to time areas and
facilities so to be used, provided such designations and changes do not deprive Tenant of the substantive benefits of such areas and facilities. 
 Not
included in the Premises are the ceiling, the floor and all perimeter walls of the space identified in Exhibit A, except the inner surfaces thereof and the perimeter doors and windows. Tenant agrees that Landlord shall have the right to place in the
Premises (but in such manner as not unreasonably to interfere with Tenant’s use of the Premises) utility lines, telecommunication lines, shafts, pipes and the like, for the use and benefit of Landlord and other tenants in the Building, and to
replace and maintain and repair such lines, pipes and the like, in, over and upon the Premises. Such utility lines, pipes and the like, shall not be deemed part of the Premises under this Lease. Notwithstanding anything contained herein to the
contrary, Landlord shall not have the right to install any such utility lines, telecommunication lines, shafts, pipes and the like in the Premises unless (a) no space in the Building core and shaft space and/or above the ceiling of the Premises
is reasonably available and usable therefor on a commercially reasonable basis and (b) the installation of any such utility lines, telecommunication lines, shafts, pipes and the like and the use thereof, does not have a materially adverse
effect on Tenant’s Work or Alterations (including, without limitation, the aesthetics thereof), or Tenant’s use and occupancy of the Premises for the conduct of Tenant’s business. Landlord shall use reasonable efforts to locate any
utility lines, telecommunication lines, shafts, pipes and the like installed in or through the Premises by Landlord so as not to reduce the usable area of the Premises. 

1.4 Tenant shall have the right to install, at Tenant’s expense and subject to Landlord’s prior approval (i) one (1) exterior
sign (“ Exterior Signage”) in the location and in the size as the current sign for Humana Insurance Company and otherwise reasonably approved by Landlord as to the design of said sign, and in compliance with applicable Legal Requirements,
and (ii) Building lobby signage in a location to be determined by Landlord and Tenant (“Building Lobby Signage”), such Building Lobby Signage to be in a size, design, scale and of materials reasonably approved by Landlord, provided
that Tenant’s right to install such Building Lobby Signage shall be conditioned upon Tenant’s lease of at least two (2) full floors in the Building, and Tenant shall have not assigned this Lease (other than to a Permitted Transferee)
nor sublet more than 40% of the Premises. Tenant shall be responsible for obtaining all required governmental permits and approvals for such sign. Tenant shall, at its sole cost and expense, at all times keep all signs and display systems in
accordance with Landlord’s sign criteria and in good condition, proper operating order, and in accordance with all applicable Legal Requirements. Upon termination of this Lease, Tenant shall remove the Exterior Signage, Building Lobby Signage,
and any other signs and display systems and repair any damage to the Building caused by the installation and removal thereof and, with respect to the Exterior Signage, returning the exterior Building to the condition as of the Commencement Date.
Except for the foregoing Exterior Signage and Building Lobby Signage, Tenant shall not place or suffer to be placed or maintained on the exterior of the Premises any sign, advertising matter or any other thing of any kind, and will not place or
maintain any sign, decal, decoration, letter or advertising matter on the glass, or on any window or door of the Premises, or in any other place within the Premises which is visible from outside the Premises, without Landlord’s prior written
consent. No handwritten signs shall be permitted. 

  
 3 

 2. TERM. 

2.1 The Term of this Lease shall begin on the date (“Commencement Date”) that Landlord shall tender possession of the Premises to
Tenant in the condition required herein, and shall terminate on the date as shown on the Reference Pages (“Termination Date”), unless sooner terminated or extended by the provisions of this Lease. Except for Landlord’s Work (as
defined in Exhibit B), Landlord shall tender possession of the Premises in as-is condition with existing Systems and Equipment in good working order (but Landlord shall have removed any pre-existing horizontal cabling below Cat5c from the Premises). Notwithstanding the foregoing, Landlord and Tenant shall do a walk-through of the Premises within thirty (30) days following the Lease Reference
Date at which time Tenant shall designate the items of furniture, fixtures and personal property of the prior tenant which Landlord must remove from the Premises (the “Designated Items”). Landlord agrees to remove the Designated Items from
the Premises within five (5) days of the date of the walk-through. Notwithstanding the foregoing or anything in this Lease to the contrary, Landlord agrees to deliver the Premises to Tenant with existing Systems and Equipment in good working
order. If a breach of such warranty exists as of the Commencement Date, Landlord will within ten (10) days after notice from Tenant setting forth in reasonable detail the nature and extent of such
non-compliance, commence to rectify same and diligently prosecute to completion. Tenant shall, at Landlord’s request, execute and deliver a memorandum agreement provided by Landlord in the form of Exhibit
C attached hereto, setting forth the actual Commencement Date, Rent Commencement Date, Termination Date and, if necessary, a revised rent schedule. Should Tenant fail to do so within thirty (30) days after Landlord’s request, the
information set forth in such memorandum provided by Landlord shall be conclusively presumed to be agreed and correct. Tenant shall not be permitted to take possession of and enter the Premises until Tenant shall have delivered to Landlord the
insurance certificates required under Section 11.2. 
 2.2 Except as provided below, Tenant agrees that in the event of the inability
of Landlord to deliver possession of the Premises on the Scheduled Commencement Date for any reason, Landlord shall not be liable for any damage resulting from such inability, but Tenant shall not be liable for any rent until the time when Landlord
can, after notice to Tenant, deliver possession of the Premises to Tenant and the Rent Commencement Date has occurred. No such failure to give possession on the Scheduled Commencement Date shall affect the other obligations of Tenant under this
Lease. 
 2.3 If Landlord fails to deliver the Premises to Tenant on or before the date which is thirty (30) days after the Scheduled
Commencement Date, then for each day after such date that Landlord is late in delivering possession, Tenant shall be entitled to one (1) day of abatement of Base Rent (the “Late Delivery Rent Credit”). The Late Delivery Rent Credit,
if any, shall be applied following the Rent Commencement Date against Base Rent as and when same comes due until fully applied. If possession of the Premises is not delivered to Tenant by January 1, 2022 (the “Outside Date”), Tenant
may, at its option, by notice to Landlord at any time thereafter and prior to such delivery, terminate this Lease (and, in such event, Landlord shall reimburse Tenant for all
out-of-pocket costs incurred by Tenant in reliance of entering into this Lease, including all costs incurred in connection with the negotiation thereof). If Tenant does
not terminate this Lease, as aforesaid, the Late Delivery Rent Credit shall increase to two (2) days of free Rent for each day that Landlord’s failure to deliver possession of the Premises to Tenant continues following the Outside Date.

 2.4 In the event Landlord permits Tenant, or any agent, employee or contractor of Tenant, to enter, use or occupy the Premises prior to
the Commencement Date, such entry, use or occupancy shall be subject to all the provisions of this Lease other than the payment of rent, including, without limitation, Tenant’s compliance with the insurance requirements of Article 11. Said
early possession shall not advance the Termination Date. 

  
 4 

 3. RENT. 

3.1 Commencing on the Rent Commencement Date, Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the
Monthly Installment of Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect
at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of
Rent based upon the number of days in such month. Except as otherwise provided herein, said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the Rent Payment Address, as set forth on the Reference Pages,
or to such other person or at such other place as Landlord may from time to time designate in writing. As used herein the term “Rent” shall mean the Monthly installment of Rent plus all other rent and charges payable under this Lease,
including Tenant’s Proportionate Share of Expenses and Tenant’s Proportionate Share of Taxes which Tenant is obligated to pay pursuant to the terms of Section 4 below. If an Event of Default occurs, Landlord may require by notice to
Tenant that all subsequent rent payments be made by an automatic payment from Tenant’s bank account to Landlord’s account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent
payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent. 

3.2 Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative expense to Landlord, the
extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid within five (5) days after written notice that the same was due and not paid
pursuant to this Lease (provided that Landlord shall have no obligation to deliver any such notice to Tenant more than two (2) times within any twelve (12) month period during the Term), a late charge shall be imposed in an amount equal to
the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month
until paid. The provisions of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s
remedies pursuant to Article 19 of this Lease in the event said rent or other payment is unpaid after date due. 
 3.3 Except as otherwise
provided herein, Tenant hereby acknowledges and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to be payable in all events and that the obligations of Tenant
hereunder shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated pursuant to an express provision of this Lease. Landlord and Tenant each acknowledges and agrees that the independent nature of the
obligations of Tenant hereunder represents fair, reasonable, and accepted commercial practice with respect to the type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to landlord entering into this Lease.

  
 5 

 4. RENT ADJUSTMENTS. 

4.1 For the purpose of this Article 4, the following terms are defined as follows: 

4.1.1 Lease Year: Each fiscal year (as determined by Landlord from time to time) falling partly or wholly within the Term. 

4.1.2 Expenses: All costs of operation, maintenance, repair, replacement and management of the Building (including the amount of any
credits which Landlord may grant to particular tenants of the Building in lieu of providing any standard services or paying any standard costs described in this Section 4.1.2 for similar tenants), as determined in accordance with generally
accepted accounting principles, including the following costs by way of illustration, but not limitation: Insurance Costs (as defined below) water and sewer charges; utility costs, including, but not limited to, the cost of heat, light, power,
steam, gas; waste disposal; the cost of janitorial services; the cost of security and alarm services (including any central station signaling system); costs of cleaning, repairing, replacing and maintaining the common areas, including parking and
landscaping, window cleaning costs; labor costs; costs and expenses of managing the Building including management and/or administrative fees (not to exceed three percent (3%) of the gross fixed revenue from the office portions of the Building); air
conditioning maintenance costs; elevator maintenance fees and supplies; material costs; equipment costs including the cost of maintenance, repair and service agreements; purchase costs of equipment; current rental and leasing costs of items which
would be capital items if purchased; tool costs; licenses, permits and inspection fees; wages and salaries; employee benefits and payroll taxes; accounting and legal fees; any sales, use or service taxes incurred in connection therewith. In
addition, Landlord shall be entitled to recover, as part of Expenses, Tenant’s Proportionate Share of: (i) an allocable portion of the cost of capital improvement items which are reasonably intended to reduce Expenses by a reasonably
proportionate amount; (ii) an allocable portion of the cost of capital improvement items which are required under any Legal Requirements which were not applicable to the Building as of the Commencement Date, and (iii) the cost of fire
sprinklers and suppression systems and other life safety systems which are required under any Legal Requirements which were not applicable to the Building as of the Commencement Date; provided that the costs described in this sentence shall be
amortized over the useful life of such expenditures in accordance with such useful life and amortization schedules in accordance with GAAP, with interest on the unamortized amount at one percent (1%) in excess of the Wall Street Journal prime
lending rate announced from time to time (“Permitted Capital Expenses”). Notwithstanding anything contained in this Lease to the contrary, in all instances Expenses and Taxes shall be limited to commercially reasonable costs without
duplication or profit. 
 Notwithstanding any provision to the contrary in this Lease, Expenses shall not include the following costs and expenses:
(i) any mortgage charges (including interest, principal, points and fees, and ground rent); (ii) costs in connection with leasing space in the Building, including advertising, brokerage commissions; lease concessions, rental abatements and
construction allowances granted to specific tenants; (iii) salaries of executives and owners or other employees not directly employed in the management/operation of the Building; (iv) the cost of work done by Landlord for or on behalf of a
particular tenant which is separately chargeable to such tenant; (v) the costs of any contributions made by Landlord to any tenant of the Building in connection with the build-out of its premises;
(vi) franchise or income taxes imposed on Landlord; (vii) costs paid directly by individual tenants to suppliers, including tenant electricity, telephone and other utility costs; (viii) increases in premiums for insurance when such
increase is caused solely by the use of the Building by any other tenant of the Building; (ix) depreciation expenses and any ground lease payments; (x) costs relating to maintaining Landlord’s existence as a corporation, partnership
or other entity; (xi) advertising and other fees and costs incurred in procuring tenants; (xii) the cost of any items for which Landlord is reimbursed by insurance, condemnation awards, refund, rebate or otherwise, and any expenses for
repairs or maintenance to the extent covered by warranties, guaranties and service contracts; (xiii) costs incurred in connection with any disputes between Landlord and its employees, between Landlord and Building management, or between
Landlord and other tenants or occupants; (xiv) costs incurred in connection with the sale, financing or refinancing of the Building; (xv) fines, interest and penalties incurred due to the late payment of Taxes or Expenses or Insurance
Costs; (xvi) costs of any expansions of the 

  
 6 

 
Building; (xvii) amounts (exclusive of the management fee) paid to subsidiaries or affiliates of Landlord for goods and/or services rendered to the Building to the extent such amounts exceed
the competitive costs for delivery of such services were they not provided by such related parties; (xviii) payments for rented equipment, the cost of which equipment would constitute a capital expenditure if the equipment were purchased, to
the extent that such payments exceed the amount which could have been included in Expenses had Landlord purchased such equipment rather than leasing such equipment; (xix) charitable or political contributions; (xx) replacement or
contingency reserves or any bad debt loss, rent loss or reserves for bad debts or rent loss; (xxi) costs associated with retail leases at the Building, if any, to the extent such cost would exceed that of an office tenant; (xxii) the cost
of testing, remediation or removal, transportation or storage of Hazardous Materials in the Building or on the Lot required by Environmental Laws provided, however, the foregoing shall not prohibit the inclusion of expenses to test, remove or
remediate materials (whether existing at the Building as of the date of this Lease or subsequently introduced to the Building) which are not as of the date of this Lease (or as of the date of the introduction) deemed to be Hazardous Materials under
applicable Legal Requirements but which are subsequently deemed to be Hazardous Materials under applicable Legal Requirements, (xxiii) capital expenditures except as expressly permitted above in this Section 4.1.2, (xxiv) costs to make
improvements, alterations, additions or replacements to the Building which are required in order to render the same in compliance with Legal Requirements in effect as of the Commencement Date, (xxv) the cost of installing any specialty service,
such as a cafeteria, observatory, broadcasting facilities, child or daycare, (xxvi) costs to acquire sculptures and other works of fine art, exclusive of any holiday decorations, (xxvii) Taxes or taxes on Landlord’s business (such as
income, excess profits, franchise, capital stock, estate, inheritance, etc.), (xxviii) Landlord’s general overhead and any other expenses not directly attributable to the operation and management of the Building and the land appurtenant thereto
(e.g. the activities of Landlord’s officers and executives or professional development expenditures), except to the extent included in the management fee permitted hereby, (xxix) the cost of any repairs made by Landlord pursuant to the
damage or condemnation Articles of this Lease, and (xxx) any improvement that is not a Permitted Capital Expense. 
 4.1.1
Taxes: Real estate taxes and any other taxes, charges and assessments which are levied with respect to the Building or the land appurtenant to the Building, or with respect to any improvements, fixtures and equipment or other property of
Landlord, real or personal, located in the Building and used in connection with the operation of the Building and said land, any payments to any ground lessor in reimbursement of tax payments made by such lessor; and all reasonable fees, expenses
and costs incurred by Landlord in investigating, protesting, contesting or in any way seeking to reduce or avoid increase in any assessments, levies or the tax rate pertaining to any Taxes to be paid by Landlord in any Lease Year. Landlord shall
take commercially reasonable actions to contest any tax assessments which are unreasonable and the reasonable costs of such actions to contest Taxes shall be included in Expenses. Taxes shall not include any corporate franchise, or estate,
inheritance or net income tax, or tax imposed upon Landlord’s business (such as income, excess profits, franchise, transfer, personal income, capital stock, estate, etc.) or any transfer by Landlord of its interest in this Lease or the
Building, any stadium, sports complex or arena tax (including, without limitation, the ballpark/stadium tax) or any taxes to be paid by Tenant pursuant to Article 28. Taxes for any year which Tenant is obligated to pay its share thereof shall be
reduced by the net amount of any tax refund received by Landlord attributable to such year. If a special assessment payable in installments is levied against any part of the Property, Taxes for any year shall include only the installment of such
assessment and any interest payable or paid during such year. 
 4.1.2 Insurance Costs: Any and all insurance charges of or relating
to all insurance policies and endorsements deemed by Landlord to be reasonably necessary or desirable and relating in any manner to the protection, preservation, or operation of the Building or any part thereof. 

  
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 4.2 Subject to the provisions of this Article 4 (including the exclusions), if in any Lease
Year, (i) Expenses paid or incurred shall exceed Expenses paid or incurred in the Base Year (Expenses) and/or (ii) Taxes payable by Landlord in any Lease Year shall exceed the amount of such Taxes paid by Landlord in the Base Year (Taxes),
Tenant shall pay as additional rent for such Lease Year Tenant’s Proportionate Share of each such excess amount. 
 4.3 The annual
determination of Expenses and Taxes shall be made by Landlord and shall be delivered to Tenant within ninety (90) days of the end of the applicable Lease Year. Such annual determination shall be accompanied by a statement and accounting of
Tenant’s Proportionate Share of the Expenses which exceeded Expenses paid or incurred in the Base Year (Expenses) and Taxes which exceeded the amount of such Taxes which became due and payable in the Base Year (Taxes) (“Landlord’s
Statement”). Landlord’s Statement shall be binding upon Landlord and Tenant, subject to the provisions of this Section 4.3. During the Term, Tenant may review, at Tenant’s sole cost and expense, the books and records supporting
such determination which during any such review shall include the books and records for the Base Year (Expenses) and Base Year (Taxes) in the office of Landlord, or Landlord’s agent, at a location in the Boston area during normal business
hours, upon giving Landlord five (5) days advance written notice within ninety (90) days after receipt of such determination, but in no event more often than once in any one (1) year period, subject to execution of a confidentiality
agreement acceptable to Landlord, and provided that if Tenant utilizes an independent accountant or lease auditing firm to perform such review it shall be one of national standing which is reasonably acceptable to Landlord, is not compensated on a
contingency basis and is also subject to such confidentiality agreement. Notwithstanding anything contained herein to the contrary, Tenant’s right to object to the determination of the Base Year (Expenses) and Base Year (Taxes) shall be limited
to the first time Tenant requests to review the Base Year (Expenses) and Base Year (Taxes). If Tenant fails to object to Landlord’s determination of Expenses and/or Taxes within ninety (90) days after receipt, Tenant shall be deemed to
have approved such determination and shall have no further right to object to or contest such determination. In the event that it is finally determined that Landlord overstated the total Expenses and/or Taxes attributable to Tenant by five percent
(5%) or more, Landlord shall reimburse Tenant for the actual out-of-pocket costs of such audit up to a maximum of $6,000. Notwithstanding the “deemed approval”
of Landlord’s determination of Expenses or Taxes, if any examination discloses errors or omissions for any calendar year resulting in an overstatement of Expenses and/or Taxes, Landlord shall correct such errors or omissions for all preceding
calendar years to the extent the same error was made during preceding calendar years. 
 4.4 In the event that during all or any portion of
any Lease Year or Base Year, the Building is less than ninety-five percent (95%) rented and occupied Landlord shall make an appropriate adjustment in occupancy-related Expenses for such year for the purpose of avoiding distortion of the amount of
such Expenses to be attributed to Tenant by reason of variation in total occupancy of the Building, by employing consistent and sound accounting and management principles to determine Expenses that would have been paid or incurred by Landlord had
the Building been ninety-five percent (95%) rented and occupied, and the amount so determined shall be deemed to have been Expenses for such Lease Year. 

4.5 Landlord shall estimate Tenant’s Proportionate Share of Expenses which are estimated to exceed Expenses paid or incurred in the Base
Year (Expenses) and Tenant’s Proportionate Share of Taxes which are estimated to exceed the amount of such Taxes which became due and payable in the Base Year (Taxes)(“Landlord’s Estimate”). At least thirty (30) days prior
to the beginning of any Lease Year, Landlord will deliver Landlord’s Estimate to Tenant, and Tenant agrees that it will pay, by increase of its Monthly Installments of Rent due in such Lease Year, additional rent in the amount of such estimate.
Any such increased rate of Monthly Installments of Rent pursuant to this Section 4.4 shall remain in effect until further written notification to Tenant pursuant hereto. 

  
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 4.6 When the above mentioned actual determination of Tenant’s liability for Expenses
and/or Taxes is made for any Lease Year and when Tenant is so notified in writing (together with reasonable detail regarding said costs), then: 

4.6.1 If the total additional rent Tenant actually paid pursuant to Section 4.5 on account of Expenses and/or Taxes for the Lease Year is
less than Tenant’s actual liability for Expenses and/or Taxes, then Tenant shall pay such deficiency to Landlord as additional rent in one lump sum within thirty (30) days of receipt of Landlord’s bill therefor; and 

4.6.2 If the total additional rent Tenant actually paid pursuant to Section 4.5 on account of Expenses and/or Taxes for the Lease Year is
more than Tenant’s liability for Expenses and/or Taxes as set forth on Landlord’s Statement, then Landlord shall credit the difference against the then next due payments to be made by Tenant under this Article 4, or, if the Lease has
terminated, refund the difference in cash to Tenant within thirty (30) days of the delivery of Landlord’s Statement. Tenant shall not be entitled to a credit by reason of actual Expenses and/or Taxes in any Lease Year being less than
Expenses and/or Taxes in the Base Year (Expenses and/or Taxes and/or Insurance). 
 4.7 If the Commencement Date is other than
January 1 or if the Termination Date is other than December 31, Tenant’s liability for Expenses and Taxes for the Lease Year in which said Date occurs shall be prorated based upon a three hundred sixty-five (365) day year. 

4.8 Notwithstanding anything to the contrary contained in this Lease, for the purpose of calculating Tenant’s Proportionate Share of
Expenses, annual increases in Controllable Expenses shall not increase by more than seven percent (7%) of Controllable Expenses for the preceding year increased on a cumulative and compounding basis. As used herein, the term “Controllable
Expenses” shall mean all Expenses except the following: management fees, security costs, weather-related costs, (including, but not limited to, snow removal costs), costs incurred to comply with Legal Requirements, utilities and Insurance. 

5. SECURITY DEPOSIT. Within thirty (30) days after the Lease Reference Date, Tenant shall deliver the Security Deposit to Landlord which may, at
Tenant’s election either be in cash or in the form of an irrevocable and unconditional Letter of Credit in the amount required on the references Pages of this Lease (the “Letter of Credit”). Landlord consents to the Letter of Credit
being issued by Silicon Valley Bank. Notwithstanding anything contained herein to the contrary, Tenant shall have the right to reduce the amount of the Letter of Credit (or the cash Security Deposit, if applicable) to $412,000.00 on
September 1, 2024 (the “Reduction Date”) by the delivery of a substitute letter of credit to Landlord; provided, however, if an Event of Default exists as of September 1, 2024, Tenant shall not be entitled to reduce the Security
Deposit until such Event of Default has been cured (and the date that such Event of Default has been cured shall be the “Reduction Date” hereunder). Upon Tenant’s delivery of such substitute letter of credit, Landlord shall return the
Letter of Credit to Tenant and such substitute letter of credit shall become the “Letter of Credit” hereunder. If Tenant elects to post a cash security deposit, Landlord shall refund the amount in excess of $412,000.00 to Tenant on the
Reduction Date. If Tenant shall fully and faithfully comply with the terms, provisions, covenants and conditions of this Lease, the Letter of Credit (or the cash Security Deposit) shall be returned to Tenant within thirty (30) days after the
expiration or earlier termination of the Term and Tenant’s vacation and surrender of the Premises as required by this Lease. 
 6. ALTERATIONS. 

6.1 Except as expressly set forth herein, Tenant shall not make or suffer to be made any alterations, additions, or improvements, including,
but not limited to, the attachment of any fixtures or equipment in, on, or to the Premises or any part thereof or the making of any improvements as required by 

  
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Article 7, without the prior written consent of Landlord. When applying for such consent, Tenant shall, if requested by Landlord, furnish complete plans and specifications for such alterations,
additions and improvements to the extent typically prepared for same. Landlord’s consent may be withheld in Landlord’s sole discretion with respect to alterations which (i) materially and adversely affect the structure of the
Building, (ii) are visible from the exterior of the Building, and (iii) materially and adversely affect the Systems and Equipment. Notwithstanding the foregoing, for alterations, additions or improvements that are not structural in nature
and in aggregate do not cost more than $100,000.00 Tenant shall provide notice thereof to Landlord prior to commencement of any work but Landlord’s consent thereto shall not be required. Landlord shall respond with its consent or withholding of
consent (with Landlord’s reasons therefor) within fifteen (15) business days after receiving Tenant’s written request for consent and reasonably detailed and complete construction drawings. In addition, the consent of the Landlord
shall not be required for any purely cosmetic changes to the Premises regardless of cost, provided that Tenant shall provide Landlord with advance notice of same. 

6.2 In the event Landlord consents to the making of any such alteration, addition or improvement by Tenant, the same shall be made by using
either Landlord’s contractor or a contractor reasonably approved by Landlord, in either event at Tenant’s sole cost and expense. If Tenant shall employ any contractor other than Landlord’s contractor and such other contractor or any
subcontractor of such other contractor shall employ any non-union labor or supplier, Tenant shall be responsible for and hold Landlord harmless from any and all delays, damages and extra costs suffered by
Landlord as a result of any dispute with any labor unions concerning the wage, hours, terms or conditions of the employment of any such labor. Landlord may charge Tenant third-party costs actually incurred by Landlord in connection with review of
Tenant’s plans, with all such amounts being due five (5) days after Landlord’s written demand. 
 6.3 All alterations,
additions or improvements proposed by Tenant shall be constructed in accordance with all government laws, ordinances, Rules and Regulations, using Building standard materials where applicable, and Tenant shall, prior to construction, provide the
additional insurance required under Article 11 in such case, and also all such assurances to Landlord as Landlord shall reasonably require to assure payment of the costs thereof, including but not limited to, notices of non-responsibility, waivers of lien, surety company performance bonds and funded construction escrows and to protect Landlord and the Building and appurtenant land against any loss from any mechanic’s,
materialmen’s or other liens. Tenant shall pay in addition to any sums due pursuant to Article 4, any increase in real estate taxes attributable to any such alteration, addition or improvement for so long, during the Term, as such increase is
ascertainable; at Landlord’s election said sums shall be paid in the same way as sums due under Article 4. 
 6.4 Tenant shall be
permitted, at its sole cost and expense, to make non-structural, cosmetic alterations to the fire stairwell which connects the sixth (6th) and seventh
(7th) floors, including the installation of dedicated security
access to each such floor of the Premises (the “Tenant’s Stairwell Alterations”), subject to Landlord’s right to reasonably approve such Tenant’s Stairwell Alterations. The Tenant’s Stairwell Alterations shall be
subject to all of the terms and conditions of this Article 6. The exact specifications of the Tenant’s Stairwell Alterations and the location of any of Tenant’s security access installations shall all be submitted to Landlord at least [ten
(10) business days] prior to Tenant’s intended commencement of the performance of Tenant’s Stairwell Alterations, and shall be subject to Landlord’s prior written approval, which shall not be unreasonably withheld or delayed.

 6.5 Tenant shall, in connection with the Tenant’s Work as set forth on Exhibit B attached hereto, be permitted, at its sole
cost and expense, to connect to the Building Fire/Life Safety System, (as such term is defined in Section 2.5 of Exhibit B to this Lease), subject to Landlord’s prior written approval (which shall not be unreasonably withheld), and
provided that Tenant’s performance of any alterations necessary to connect to the base building fire and life safety systems shall be in accordance with all of the requirements set forth in this Lease. 

  
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 7. REPAIR. 

7.1 Landlord shall have no obligation to alter, remodel, improve, repair, decorate or paint the interior of the Premises, except as specified
in this Lease. Landlord shall repair and maintain in good working order and in compliance with applicable laws (and make necessary replacements), to all portions of the Building (exclusive of the Premises), including, but not limited to, the
structural portions of the Building (foundation, exterior, windows, load-bearing walls, elevators, egress stairs, roof), common areas and landscaping and all systems and equipment servicing the Building (the “Systems and Equipment”).
“Systems and Equipment shall include, but not be limited to, the Base Building HVAC System, the Building Fire/Life Safety System, plumbing, air conditioning, heating and electrical systems installed or furnished by Landlord but shall exclude
all systems installed by Tenant which service the Premises exclusively and internal distribution elements of such systems within the Premises. The internal components of the existing fire/life safety system within the Premises shall be delivered to
Tenant on the Commencement Date in as-is condition. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the condition in which Landlord is obligated to
deliver them. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease. Notwithstanding anything
contained in this Lease to the contrary, in no event shall Tenant be responsible for the performance of, or the payment of any costs incurred by Landlord (whether directly or as a component of Expenses) for, repairs or replacements (i) due to
the gross negligence or willful misconduct of Landlord or Landlord’s agents; (ii) to the structural elements of the Building Systems and Equipment or the common areas of the Property if such repairs or replacements are required to comply
with violations of Legal Requirements which existed as of the Commencement Date. 
 7.2 Tenant shall, at all times during the Term, keep the
Premises in good condition and repair excepting damage by fire, or other casualty, and in compliance with all applicable governmental laws, ordinances and regulations, promptly complying with all governmental orders and directives for the
correction, prevention and abatement of any violations or nuisances in or upon, or connected with, the Premises, all at Tenant’s sole expense. All lighting within the Premises or exclusively serving the Premises shall be maintained at
Tenant’s sole expense, but such maintenance may be provided by Landlord upon Tenant’s request. Tenant shall maintain the window treatments for all Premises windows. 

7.3 Subject to the provisions of Section 39 and except as provided elsewhere in this Lease, Landlord shall not be liable for any failure
to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant. 

7.4 Except as otherwise provided in this Lease, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or
interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building. Except as otherwise
provided herein and to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect. 

8. LIENS. Tenant shall keep the Premises, the Building and appurtenant land and Tenant’s leasehold interest in the Premises free from any liens arising
out of any services, work or materials performed, furnished, or contracted for by Tenant, or obligations incurred by Tenant. In the event that Tenant fails, 

  
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within twenty (20) days following the imposition of any such lien, to either cause the same to be released of record or provide Landlord with insurance against the same issued by a major
title insurance company or such other protection against the same as Landlord shall accept (such failure to constitute an Event of Default), Landlord shall have the right to cause the same to be released by such means as it shall deem proper,
including payment of the claim giving rise to such lien. All such sums paid by Landlord and all expenses incurred by it in connection therewith shall be payable to it by Tenant within five (5) days of Landlord’s demand. 

9. ASSIGNMENT AND SUBLETTING. 
 9.1 Tenant shall
not have the right to assign or pledge this Lease or to sublet the whole or any part of the Premises whether voluntarily or by operation of law, or permit the use or occupancy of the Premises by anyone other than Tenant, and shall not make, suffer
or permit such assignment, subleasing or occupancy without the prior written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed, subject however to the terms of Section 9.5 below, and said restrictions
shall be binding upon any and all assignees of the Lease and subtenants of the Premises. In the event Tenant desires to sublet, or permit such occupancy of, the Premises, or any portion thereof, or assign this Lease, Tenant shall give written notice
thereof to Landlord at least twenty (20) days prior to the proposed commencement date of such subletting or assignment, which notice shall set forth the name of the proposed subtenant or assignee, the relevant terms of any sublease or
assignment and copies of financial reports and other relevant financial information of the proposed subtenant or assignee. 
 9.2
Notwithstanding any assignment or subletting, permitted or otherwise, Tenant shall at all times remain directly, primarily and fully responsible and liable for the payment of the rent specified in this Lease and for compliance with all of its other
obligations under the terms, provisions and covenants of this Lease. Upon the occurrence of an Event of Default, if the Premises or any part of them are then assigned or sublet, Landlord, in addition to any other remedies provided in this Lease or
provided by law, may, at its option, collect directly from such assignee or subtenant all rents due and becoming due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord from Tenant under this Lease, and
no such collection shall be construed to constitute a novation or release of Tenant from the further performance of Tenant’s obligations under this Lease. 

9.3 Landlord shall respond to Tenant’s request for consent to an assignment or sublease within twenty (20) days of receipt of
Tenant’s notice of same, giving reasonably detailed information in the event Landlord reasonably refuses consent. In addition to Landlord’s right to approve of any subtenant or assignee, Landlord shall have the option, in its sole
discretion, in the event of any proposed subletting or assignment, to terminate this Lease, or in the case of a proposed subletting of all or substantially all of the Premises for the remainder of the Term, to recapture the portion of the Premises
to be sublet, as of the date the subletting or assignment is to be effective. The option shall be exercised, if at all, by Landlord giving Tenant written notice given by Landlord to Tenant within thirty (30) days following Landlord’s
receipt of Tenant’s written notice as required above. However, if Tenant notifies Landlord, within five (5) days after receipt of Landlord’s termination notice, that Tenant is rescinding its proposed assignment or sublease, the
termination notice shall be void and the Lease shall continue in full force and effect. If this Lease shall be terminated with respect to the entire Premises pursuant to this Section, the Term of this Lease shall end on the date stated in
Tenant’s notice as the effective date of the sublease or assignment as if that date had been originally fixed in this Lease for the expiration of the Term. If Landlord recaptures under this Section only a portion of the Premises, the rent to be
paid from time to time during the unexpired Term shall abate proportionately based on the proportion by which the approximate square footage of the remaining portion of the Premises shall be less than that of the Premises as of the date immediately
prior to such recapture. Tenant shall, at Tenant’s own cost and expense, discharge in full any outstanding commission obligation which may be due and owing as a result of any proposed assignment or subletting, whether or not the Premises are
recaptured pursuant to this Section 9.3 and rented by Landlord to the proposed tenant or any other tenant. 

  
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 9.4 In the event that Tenant sells, sublets, assigns or transfers this Lease, Tenant shall
pay to Landlord as additional rent an amount equal to fifty percent (50%) of any Increased Rent (as defined below), less the Costs Component (as defined below), when and as such Increased Rent is received by Tenant. As used in this Section,
“Increased Rent” shall mean the excess of (i) all rent and other consideration which Tenant is entitled to receive by reason of any sublease, assignment or other transfer of this Lease, over (ii) the rent otherwise payable by
Tenant under this Lease at such time. For purposes of the foregoing, any consideration received by Tenant in form other than cash shall be valued at its fair market value as determined by Landlord in good faith. The “Costs Component” is
that amount which, if paid monthly, would fully amortize on a straight-line basis, over the entire period for which Tenant is to receive Increased Rent, the reasonable costs incurred by Tenant for leasing commissions, legal fees and tenant
improvements in connection with such sublease, assignment or other transfer. 
 9.5 Notwithstanding any other provision hereof, it shall be
considered reasonable for Landlord to withhold its consent to any assignment of this Lease or sublease of any portion of the Premises if at the time of either Tenant’s notice of the proposed assignment or sublease or the proposed commencement
date thereof, there shall exist an Event of Default, or if the proposed assignee or sublessee is an entity: (a) with which Landlord is already in active negotiation for competitive space in the last one hundred eighty (180) days; (b) is
already an occupant of the Building unless Landlord is unable to provide the amount of space required by such occupant; (c) is a governmental agency; (d) is incompatible with the character of occupancy of the Building; (e) Landlord is
not reasonably satisfied with the financial condition, tangible net worth or creditworthiness of the proposed subtenant or assignee taking into account the financial condition, tangible net worth or creditworthiness of Tenant (who shall remain
liable under the Lease); (f) with which the payment for the sublease or assignment is determined in whole or in part based upon its net income or profits; or (g) would subject the Premises to a use which would: (i) involve increased
personnel above which is considered normal office use in Comparable Buildings or materially increase wear upon the Building; (ii) violate any exclusive right granted to another tenant of the Building prior to the Lease Reference Date;
(iii) require any structural modification of the Premises or the Building in order to comply with building code or other governmental requirements; or, (iv) involve a violation of Article 1 of this Lease. Tenant expressly agrees that for
the purposes of any statutory or other requirement of reasonableness on the part of Landlord, Landlord’s refusal to consent to any assignment or sublease for any of the reasons described in this Section 9.5, shall be conclusively deemed to
be reasonable. 
 9.6 Other than with respect to a Permitted Transfer, upon any request to assign or sublet, Tenant will pay to Landlord the
Assignment/Subletting Fee plus, on demand, a sum equal to all of Landlord’s costs, including reasonable attorney’s fees (not to exceed $3,500.00), incurred in investigating and considering any proposed or purported assignment or pledge of
this Lease or sublease of any of the Premises, regardless of whether Landlord shall consent to, refuse consent, or determine that Landlord’s consent is not required for, such assignment, pledge or sublease. Any purported sale, assignment,
mortgage, transfer of this Lease or subletting which does not comply with the provisions of this Article 9 shall be void. 
 9.7 If Tenant
is a corporation, limited liability company, partnership or trust, any transfer or transfers of or change or changes within any twelve (12) month period in the number of the outstanding voting shares of the corporation or limited liability
company, the general partnership interests in the partnership or the identity of the persons or entities controlling the activities of such partnership or trust resulting in the persons or entities owning or controlling a majority of such shares,
partnership interests or activities of such partnership or trust at the beginning of such period no longer having such ownership or 

  
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control shall be regarded as equivalent to an assignment of this Lease to the persons or entities acquiring such ownership or control and shall be subject to all the provisions of this Article 9
to the same extent and for all intents and purposes as though such an assignment. 
 9.8 Notwithstanding the foregoing provisions of this
Article to the contrary, Tenant shall be permitted to assign this Lease, or sublet all or a portion of the Premises, to Permitted Transferee (as such term is defined below) without the payment of any fees, including the Assignment/Subletting Fee or
the payment of Increased Rent, and without the prior consent of Landlord, if all of the following conditions are satisfied: 
 9.8.1 No
Event of Default exists under this Lease as of the effective date of such Permitted Transfer (as such term is defined below); 
 9.8.2 to
the extent the disclosure of same is not prohibited by law or contract, a fully executed copy of such assignment or sublease, the assumption of this Lease by the assignee or acceptance of the sublease by the sublessee, and such other information
regarding the assignment or sublease as Landlord may reasonably request, shall have been delivered to Landlord within ten (10) days after the effective date of such Permitted Transfer; 

9.8.3 the Premises shall continue to be operated solely for the use specified in the Reference Page or other use acceptable to Landlord in its
sole discretion; 
 9.8.4 the Permitted Transferee shall have a net worth which is at least equal to Tenant’s net worth as of the date
of this Lease. 
 9.8.5 Tenant shall pay all legal costs reasonably incurred by Landlord (not to exceed $2,000.00) in connection with such
assignment or subletting. 
 Tenant acknowledges (and, at Landlord’s request, at the time of such assignment or subletting shall confirm) that in each
instance Tenant shall remain liable for performance of the terms and conditions of the Lease despite such assignment or subletting. As used herein the term “Permitted Transferee” shall mean an entity which (i) directly controls Tenant
or (ii) is under the direct control of Tenant or (iii) is under common direct control with Tenant, (iv) is the successor in interest to Tenant by way of merger or consolidation, or by sale of all or substantially all of the stock of
Tenant or of all or substantially all of the assets of Tenant, so long as the tangible net worth of the surviving or successor entity following such transaction is at least as much as the tangible net worth of Tenant immediately preceding the
Commencement Date. Control shall mean ownership of fifty-one percent (51%) or more of the voting securities or rights of the controlled entity. The assignment, sublease or other transfer by Tenant to such
Permitted Transferee is referred to herein as a “Permitted Transfer”. 
 9.9 With respect to any sublease covering at least 50% of
the Premises, Landlord agrees to enter into a commercially reasonable recognition and non-disturbance agreement (a “Recognition Agreement”) with the subtenant (the “Subtenant”) which
provides that Subtenant shall be entitled to remain in occupancy of the sublet premises in the event of a termination of Tenant’s rights under the Lease as a result of a Default. Landlord shall only be obligated to deliver a Recognition
Agreement if the Subtenant is not in default under the Sublease and Landlord consented to the sublease in question or Landlord’s consent thereto was not required hereunder (i.e. the sublease is to a Permitted Transferee). The Recognition
Agreement shall provide that if Landlord desires to terminate this Lease due to a Default by Tenant under this Lease, Landlord will provide Subtenant with written notice of same. The Recognition Agreement shall further provide that if, within
fifteen (15) days after receipt of Landlord’s notice of Tenant’s Default, Subtenant notifies Landlord that Subtenant will succeed to Tenant’s interest under this Lease, such 

  
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succession will take effect immediately (although the parties will subsequently document the succession), and Landlord shall recognize Subtenant’s right to continue to occupy the Premises
pursuant to the terms and conditions of this Lease. In the event of a succession, the sublease agreement will no longer be of any further force or effect (other than those provisions which are specifically stated to survive termination as set forth
in the sublease agreement). In addition, the Recognition Agreement shall provide that, if Subtenant elects to succeed to Tenant’s interest under this Lease, Subtenant shall be obligated to (i) cure the Default by Tenant which resulted in
Landlord notifying Tenant and Subtenant of Landlord’s desire to terminate this Lease; (ii) pay Rent (as proportionately adjusted for the space occupied by Subtenant) as provided in the Lease; and Landlord shall be reimbursed for all legal
fees reasonably incurred by Landlord in connection with the Recognition Agreement.     
 10. INDEMNIFICATION. None of the Landlord
Entities shall be liable and Tenant hereby waives all claims against them for any damage to any property or any injury to any person in or about the Premises or the Building by or from any cause whatsoever (including without limiting the foregoing,
rain or water leakage of any character from the roof, windows, walls, basement, pipes, plumbing works or appliances, the Building not being in good condition or repair, gas, fire, oil, electricity or theft), except to the extent caused by or arising
from the negligence or willful misconduct of Landlord or its agents, employees or contractors. Tenant shall protect, indemnify and hold the Landlord Entities harmless from and against any and all loss, claims, liability or costs (including court
costs and attorney’s fees) incurred by reason of (a) any damage to any property (including but not limited to property of any Landlord Entity) or any injury (including but not limited to death) to any person occurring in, on or about the
Premises or the Building to the extent that such injury or damage shall be caused by or arise from any actual or alleged act, neglect, fault, or omission by or of Tenant or any Tenant Entity to meet any standards imposed by any duty with respect to
the injury or damage; (b) the conduct or management of any work or thing whatsoever done by the Tenant in or about the Premises or from transactions of the Tenant concerning the Premises; (c) Tenant’s failure to comply with any and
all Legal Requirements applicable to the condition or use of the Premises or its occupancy; or (d) any breach or default on the part of Tenant in the performance of any covenant or agreement on the part of the Tenant to be performed pursuant to
this Lease. The provisions of this Article shall survive the termination of this Lease with respect to any claims or liability accruing prior to such termination. 

Landlord agrees to indemnify and hold Tenant and Tenant’s agents, contractors and employees harmless from and against any and all loss, claims or costs
(including court costs and attorney’s fees) incurred by or claimed against Tenant to the extent such injury or damage results from the negligence or willful misconduct of Landlord, its employees, agents or contractors. The provisions of this
Article shall be subject to the waiver of subrogation provided below and shall survive the termination of this Lease with respect to any claims or liability accruing prior to such termination. 

11. INSURANCE. 
 11.1 Tenant shall keep in force
throughout the Term: (a) a Commercial General Liability insurance policy or policies to protect the Landlord Entities against any liability to the public or to any invitee of Tenant or a Landlord Entity incidental to the use of or resulting
from any accident occurring in or upon the Premises with a limit of not less than $1,000,000.00 per occurrence and not less than $3,000,000.00 in the annual aggregate (which annual aggregate coverage may be in the form of umbrella policy), covering
bodily injury and property damage liability and $1,000,000 products/completed operations aggregate; (b) Business Auto Liability covering owned, non-owned and hired vehicles with a limit of not less than
$1,000,000 per accident; (c) Worker’s Compensation Insurance with limits as required 

  
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by statute and Employers Liability with limits of $500,000 each accident, $500,000 disease policy limit, $500,000 disease—each employee; (d) All Risk or Special Form coverage protecting
Tenant against loss of or damage to Tenant’s alterations, additions, improvements (including Tenant’s Work), carpeting, floor coverings, paneling, decorations, fixtures, inventory and other business personal property situated in or about
the Premises to the full replacement value of the property so insured; (e) Business Interruption Insurance with limit of liability representing loss of at least approximately six (6) months of income; and (f) Umbrella/Excess Liability
with a limit of not less than $10,000,000.00 per occurrence and not less than $10,000,000.00 in the annual aggregate. 
 11.2 The aforesaid
policies shall (a) be provided at Tenant’s expense; (b) name the Landlord Entities as additional insureds as their interests may appear (General Liability) and loss payee (Property—Special Form); (c) be issued by an insurance
company with a minimum Best’s rating of “A-:VII” during the Term a certificate of Liability insurance on ACORD Form 25 and a certificate of Property insurance on ACORD Form 27 shall be delivered
to Landlord by Tenant upon the Commencement Date and at each renewal of said insurance. Tenant shall provide Landlord at least thirty (30) days prior written notice of the cancellation of any policy. 

11.3 Whenever Tenant shall undertake any alterations, additions or improvements in, to or about the Premises (“Work”) the aforesaid
insurance protection must extend to and include injuries to persons and damage to property arising in connection with such Work, without limitation including liability under any applicable structural work act, and such other insurance as Landlord
shall require; and the policies of or certificates evidencing such insurance must be delivered to Landlord prior to the commencement of any such Work. 

11.4 Landlord agrees to maintain in full force and effect, at all times during the Term of this Lease, (i) property damage insurance
covering the Building and Landlord’s property in amounts of coverage as is required by any institutional mortgagee of the Building or, if there is no institutional mortgagee of the Building, then in amounts of coverage as may from time to time
be carried by reasonably prudent owners of Comparable Buildings; and (ii) commercial general liability insurance with respect to the Building in an amount not less than amounts prudent landlords carry in Comparable Buildings. Landlord may
satisfy such insurance requirements by including the Property in a so called “blanket” insurance policy. 
 12. WAIVER OF SUBROGATION. So long as
their respective insurers so permit, Landlord and Tenant hereby waive and shall cause their respective insurance carriers to waive any and all rights of recovery, claims, actions or causes of action against the other for any property loss or damage
with respect to Tenant’s property, Landlord’s property, alterations, additions and improvements, the Building, the Property, the Premises, and any contents thereof, including rights, claims, actions and causes of action based on
negligence, which loss or damage is (or would have been, had the insurance required by this Lease been carried) covered by insurance. For the purposes of this waiver, any deductible with respect to a party’s insurance shall be deemed covered by
and recoverable by such party under valid and collectable policies of insurance. The parties hereto agree that any and all such insurance policies required to be carried by either party herein shall either contain a waiver of subrogation clause or
be endorsed with a waiver of subrogation clause that effectively waives the insurers rights of recovery for losses or damages that the parties have waived hereunder. 

13. SERVICES AND UTILITIES. 
 13.1 Provided no
Event of Default shall exist by Tenant under this Lease, and subject to the other provisions of this Lease, Landlord agrees to furnish to the Premises during Building Business Hours (specified on the Reference Pages) on generally recognized business
days (but exclusive in any event of 

  
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Sundays and national and local legal holidays), the following services and utilities subject to the Rules and Regulations of the Building prescribed from time to time: (a) hot and cold water
suitable for normal office use of the Premises; (b) air to the air handling units on each floor and heat and air conditioning required for the use and occupation of the Premises during Building Business Hours, subject to the performance of the
Premises HVAC Work by Tenant, including, but not limited to, VAV boxes, electric reheats, and/or fan powered boxes; (c) cleaning and janitorial service for the Premises and the common areas; (d) elevator service 24 hours a day/7 days a
week by non-attended automatic elevators with emergency response support, if applicable; and, (e) equipment to bring to the Premises electricity for lighting, convenience outlets and other normal office
use; (f) routine maintenance and electric lighting service for all common areas, and (g) pest control within the Premises and common areas, and (g) bi-annual window cleaning of all exterior
windows. Landlord shall keep the Building exterior common areas clean and orderly and free from dirt, debris, snow and ice, and, if permitted by law, make all repairs and replacements to the sidewalks and curbs adjacent thereto. Subject to
Tenant’s satisfaction of all of its HVAC-related obligations under this Section 13 and Exhibit B, Landlord shall maintain a temperature of 72 (+/- 4) degrees within the Premises, unless otherwise requested by Tenant. In addition to
Tenant’s obligations for HVAC as set forth in Exhibit B, Tenant shall have the right to install supplemental HVAC units (water or air cooled) and outdoor condensing units in a location approved by Landlord.     

13.1.1 Electricity. The electricity meters currently existing may be reused by the Tenant’s general contractor and electrical
subcontractor during construction in order to capture all electrical consumption associated with the Premises. Additional meters and current transformers (CTs) may be required by Landlord during construction pending the need for additional power,
which will be at the sole cost and expense of the Tenant and completed during the performance of Tenant’s Work. Tenant shall pay for its electricity directly to the Landlord, free of any administrative fee and without markup. Except as set
forth herein, Landlord’s failure to furnish, or any interruption, diminishment or termination of the supply of electrical energy to the Premises due to the application of any law, the failure of any equipment, the performance of repairs or
improvements or acts or omissions of the public utility serving the Building with electricity shall not render Landlord liable to Tenant, constitute a constructive eviction of Tenant, give rise to an abatement of Rent, nor relieve Tenant form the
obligation to fulfill any covenant or agreement. Tenant’s use of electrical energy in the Premises shall not at any time exceed the Building Capacity (as such term is defined below). In order to ensure that such capacity is not exceeded and to
avert possible adverse effect upon the Building electrical services, Tenant shall give notice to Landlord and obtain Landlord’s prior written consent (which shall not be unreasonably withheld) whenever Tenant shall connect to the Building
electrical distribution system any major fixtures, appliances or equipment which will exceed the Building Capacity. Any additional feeders or risers to supply Tenant’s electrical requirements in addition to those existing as of the Commencement
Date and installed as a part of Tenant’s Work and all other equipment proper and necessary in connection with such feeders or risers, shall be installed by Landlord upon Tenant’s request, at the sole cost and expense of Tenant, provided
that such additional feeders and risers are permissible under applicable laws and insurance regulations and the installation of such feeders or risers will not cause permanent damage or injury to the Building or cause or create a dangerous condition
or unreasonably interfere with other tenants of the Building. Tenant agrees that it will not make any significant alteration or material addition to the electrical equipment and/or appliances in the Premises without the prior written consent of
Landlord in each instance first obtained, which consent will not be unreasonably withheld or delayed, and will promptly advise Landlord of any alteration or addition to such electrical equipment and/or appliances. Tenant, at Tenant’s expense,
shall purchase, install and replace all light fixtures, bulbs, tubes, lamps, lenses, globes, ballasts and switches used in the Premises. In the absence of Landlord’s gross negligence or willful misconduct, Landlord shall not be liable for, and
Tenant shall not be entitled to, any abatement or reduction of rental by reason of Landlord’s failure to furnish any of the foregoing, unless such failure shall persist for five (5) days after written notice of such failure is given to
Landlord by Tenant (and provided further that Landlord shall not be liable when such 

  
 17 

 
failure is caused by accident, breakage, repairs, labor disputes of any character, the acts or omissions of Tenant or Tenant Parties, energy usage restrictions or by any other cause, similar or
dissimilar, beyond the reasonable control of Landlord), in which case fixed Annual Rent and Expenses and Taxes shall abate from and after the fifth (5th) consecutive day following such notice from Tenant, until the service or utility interruption
has been corrected (and access, if applicable, is restored). Landlord shall use reasonable efforts to promptly remedy any interruption in the furnishing of services and utilities. 

13.2 Should Tenant require any additional work or service, as described above, including services furnished outside of Building Business
Hours, Landlord may, on terms to be agreed, upon reasonable advance notice by Tenant, furnish such additional service and Tenant agrees to pay Landlord such charges as may be agreed upon, including any tax imposed thereon, but, with respect to the
provision of after-hours HVAC, in no event shall Landlord charge Tenant more than Landlord’s actual cost for such service plus, where appropriate, a reasonable allowance for depreciation of the HVAC system being used to provide such service.
The current charge for after-hours HVAC service, which is subject to change at any time (so long as any increase is limited to Landlord’s actual cost plus a reasonable allowance for depreciation), is specified on the Reference Pages. 

13.3 Wherever heat-generating machines or equipment are used by Tenant in the Premises which affect the temperature otherwise maintained by
the air conditioning system or Tenant allows occupancy of the Premises by more persons than the heating and air conditioning system is designed to accommodate, in either event whether with or without Landlord’s approval, Landlord reserves the
right to install supplementary heating and/or air conditioning units in or for the benefit of the Premises and the cost thereof, including the cost of installation and the cost of operations and maintenance, shall be paid by Tenant to Landlord
within fifteen (15) days of Landlord’s demand. 
 13.4 Tenant will not, without the written consent of Landlord (which shall not
be unreasonably withheld or delayed), use any apparatus or device in the Premises, including but not limited to, electronic data processing machines and machines using current in excess of 2000 watts and/or 20 amps or 120 volts (the “Building
Capacity”), which will in any way increase the amount of electricity used by Tenant above the Building Capacity or the water usually furnished or supplied for use of the Premises for normal office use, nor connect with electric current, except
through existing electrical outlets in the Premises, or water pipes, any apparatus or device for the purposes of using electrical current or water. If Tenant shall require water in excess of that usually furnished or supplied for use of the Premises
as normal office use or electrical current which exceeds Building Capacity, Tenant shall procure the prior written consent of Landlord for the use thereof, which Landlord may not unreasonably refuse, and if Landlord does consent, Landlord may cause
a water meter or electric current meter to be installed so as to measure the amount of such excess water and electric current. The cost of any such meters shall be paid for by Tenant. Tenant agrees to pay to Landlord within five (5) days of
Landlord’s demand, the cost of all such excess water and electric current consumed (as shown by said meters, if any, or, if none, as reasonably estimated by Landlord) at the rates charged for such services by the local public utility or agency,
as the case may be, furnishing the same, plus the additional expense incurred by and charged to Landlord by the utility supplier in keeping account of the water and electric current so consumed. 

13.5 Tenant will not, without the written consent of Landlord (which shall not be unreasonably withheld or delayed), contract with a utility
provider to service the Premises with any utility, including, but not limited to, telecommunications, electricity, water, sewer or gas, which is not previously providing such service to other tenants in the Building. Subject to Landlord’s
reasonable Rules and Regulations and the provisions of Articles 6 and 26, Tenant shall be entitled to the use of wiring (“Communications Wiring”) from the existing telecommunications nexus in the Building to the Premises, sufficient for
normal general office use of the Premises. Tenant shall not install any additional Communications Wiring, nor remove any 

  
 18 

 
Communications Wiring, without in each instance obtaining the prior written consent of Landlord (which shall not be unreasonably withheld or delayed). Any access to, from or within the Building
by Tenant’s telecommunications companies shall be subject to execution and delivery of a license agreement between Landlord and any such companies in a form reasonably satisfactory to Landlord.     

13.6 Tenant shall have access to the Building and Premises 24 hours per day, 7 days per week, but such access shall be by means of
Landlord’s security access system for the Building. Tenant shall have the right to install an internal security system, but such system shall tie into and be compatible with Landlord’s fire alarm system for the Building. After initial
occupancy, the costs of access cards for the Building access system shall be charged to Tenant at $15.00 per card. Landlord shall provide a total of three hundred (300) fobs for access to the Building at no cost to Tenant, which may be assigned
by Tenant to its employees as they onboard with Tenant. 
 14. HOLDING OVER. So long as no Event of Default exists under this Lease and Tenant provides
Landlord with written notice at least nine (9) months’ prior to the Termination Date of Tenant’s election to holdover in the Premises, Tenant will have the right to holdover beyond the Termination Date (without such holdover in and of
itself being deemed to be an Event of Default) for a period of up to three (3) months (as Tenant shall elect in its notice). The monthly rental payable by Tenant during such holdover period shall be the same as the monthly rental (the amount
due by Tenant for Base Rent and Rent Adjustments under Article 4) payable by Tenant for the last month of the initial Term, for the first (1st) month of such holdover; one hundred twenty-five percent (125%) of the Base Rent and Rent Adjustments
under Article 4 for the second (2nd) month of such holdover; and one hundred fifty percent (150%) of the Base Rent and Rent Adjustments under Article 4 for the third (3rd) month of such holdover. Except for any holdover during the first three
(3) months following the Termination Date in accordance with the provisions of this Section 14, Tenant shall pay Landlord for each day Tenant retains possession of the Premises or part of them after termination of this Lease by lapse of
time or otherwise at the rate (“Holdover Rate”) which shall be Two Hundred Percent (200%) of the greater of (a) the amount of the Annual Rent for the last period prior to the date of such termination plus all Rent Adjustments under
Article 4; and (b) the then market rental value of the Premises as reasonably determined by Landlord assuming a new lease of the Premises of the then usual duration and other terms, in either case, prorated on a daily basis, and also pay all
damages sustained by Landlord by reason of such retention, including, without limitation damages arising from the loss of any other tenant. A tenancy at sufferance shall be deemed to have been created during any holdover of the Premises (or portion
thereof) by Tenant. In any event, no provision of this Article 14 shall be deemed to waive Landlord’s right of reentry or any other right under this Lease or at law. 

15. SUBORDINATION. Landlord represents and warrants to Tenant that there are no mortgages or ground leases encumbering the Property as of the Lease Reference
Date. Landlord shall provide Tenant with a so-called non-disturbance agreement from any party who, now or in the future, holds a mortgage or leasehold interest that
superior this Lease, which agreement shall be on such party’s commercially reasonable form. Without the necessity of any additional document being executed by Tenant for the purpose of effecting a subordination, this Lease shall be subject and
subordinate at all times to ground or underlying leases and to the lien of any mortgages or deeds of trust now or hereafter placed on, against or affecting the Building, Landlord’s interest or estate in the Building, or any ground or underlying
lease; provided, however, that (i) Landlord shall use reasonable efforts to obtain a commercially reasonable non-disturbance agreement from such ground lessor, trustee or mortgagee for the benefit of
Tenant; and (ii) if the lessor, mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant’s interest in this Lease be superior to any such instrument, then, by notice to Tenant, this Lease shall be deemed
superior, whether this Lease was executed before or after said instrument. Notwithstanding the foregoing, Tenant covenants and agrees to execute and deliver such commercially reasonable agreement to Landlord within thirty (30) days of
Landlord’s request. 

  
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 16. RULES AND REGULATIONS. Tenant shall faithfully observe and comply with all the rules and regulations as
set forth in Exhibit D to this Lease and all reasonable and non-discriminatory modifications of and additions to them from time to time put into effect by Landlord upon notice to Tenant (“Rules and
Regulations”). Landlord shall not be responsible to Tenant for the non-performance by any other tenant or occupant of the Building of any such rules and regulations provided that Landlord will not
discriminate in its enforcement of the Rules and Regulations. Notwithstanding anything in the Lease or in Exhibit D to the contrary, Tenant shall not be bound by any Rule or Regulation if such rule, regulation or modification (or amendment
thereto) (i) is not communicated in writing within a reasonable period of time before the enforcement thereof by Landlord, (ii) is not generally applicable to all tenants of the Building, (iii) unreasonably and adversely diminishes,
limits or restricts Tenant’s rights, powers or privileges under this Lease or unreasonably impairs Tenant’s enjoyment and use of the Premises, or (iv) unreasonably increases Tenant’s duties and obligations under. If there is any
inconsistency between the Rules and Regulations and the other terms of this Lease, the terms of this Lease shall govern. 
 17. REENTRY BY LANDLORD. 

17.1 Landlord reserves and shall at all times have the right to re-enter the Premises to inspect the
same, to supply janitor service and any other service to be provided by Landlord to Tenant under this Lease, to show said Premises to prospective purchasers, mortgagees or tenants (provided such showing may only be during the last twelve months of
the Term), and to alter, improve or repair the Premises and any portion of the Building as provided in this Lease, without abatement of rent, and may for that purpose erect, use and maintain scaffolding, pipes, conduits and other necessary
structures and open any wall, ceiling or floor in and through the Building and Premises where reasonably required by the character of the work to be performed, provided entrance to the Premises shall not be blocked thereby, and further provided that
in all instances of any entry into the Premises by Landlord or its agents the business of Tenant shall not be interfered with and Landlord shall use commercially reasonable efforts to minimize disruption to Tenant’s use of the Premises, which
efforts shall include scheduling any such activities which affect the Premises in advance with Tenant and outside Tenant’s business hours. Landlord shall provide Tenant at least 24 hours’ notice prior to any entry in the Premises except in
the event of an emergency and to perform Landlord’s janitorial obligations. Landlord shall have the right at any time to change the arrangement and/or locations of entrances, or passageways, doors and doorways, and corridors, windows,
elevators, stairs, toilets or other public parts of the Building and to change the name, number or designation by which the Building is commonly known. In the event that Landlord damages any portion of any wall or wall covering, ceiling, or floor or
floor covering within the Premises, Landlord shall repair or replace the damaged portion to match the original as nearly as commercially reasonable but shall not be required to repair or replace more than the portion actually damaged. Except as set
forth herein, Tenant hereby waives any claim for damages for any injury or inconvenience to or interference with Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned by any action of
Landlord authorized by this Article 17. 
 17.2 For each of the aforesaid purposes, Landlord shall at all times have and retain a key with
which to unlock all of the doors in the Premises, excluding Tenant’s vaults and safes or special security areas (designated in advance), and Landlord shall have the right to use any and all means which Landlord may deem proper to open said
doors in an emergency to obtain entry to any portion of the Premises. As to any portion to which access cannot be had by means of a key or keys in Landlord’s possession, Landlord is authorized to gain access by such means as is reasonable under
the circumstances, and the cost of repairing any damage occurring in doing so shall be borne by Tenant and paid to Landlord within five (5) days of Landlord’s demand. 

  
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 18. DEFAULT. 

18.1 Except as otherwise provided in Article 20, the following events shall be deemed to be Events of Default under this Lease: 

18.1.1 Tenant shall fail to pay when due any sum of money becoming due to be paid to Landlord under this Lease, whether such sum be any
installment of the rent reserved by this Lease, any other amount treated as additional rent under this Lease, or any other payment or reimbursement to Landlord required by this Lease, whether or not treated as additional rent under this Lease, and
such failure shall continue for a period of five (5) days after written notice that such payment was not made when due. 
 18.1.2
Tenant shall fail to comply with any term, provision or covenant of this Lease which is not provided for in another Section of this Article and shall not cure such failure within thirty (30) days (forthwith, if the failure involves a hazardous
condition) after written notice of such failure to Tenant provided, however, that such failure shall not be an Event of Default if such failure could not reasonably be cured during such thirty (30) day period, Tenant has commenced the cure
within such thirty (30) day period and thereafter is diligently pursuing such cure to completion, but the total aggregate cure period shall not exceed ninety (90) days unless the nature of the Event of Default cannot be reasonably cured
within such ninety (90) day period, then the time frame for which Tenant may cure shall be extended only as long as is reasonable to effectuate the cure. If, during such extended period beyond the ninety (90) days, Tenant ceases to
diligently pursue the cure, the extended cure period shall immediately expire. 
 18.1.3 Subject to the provisions of Section 14,
Tenant shall fail to vacate the Premises immediately upon termination of this Lease, by lapse of time or otherwise, or upon termination of Tenant’s right to possession only. 

18.1.4 Tenant shall become insolvent, admit in writing its inability to pay its debts generally as they become due, file a petition in
bankruptcy or a petition to take advantage of any insolvency statute, make an assignment for the benefit of creditors, make a transfer in fraud of creditors, apply for or consent to the appointment of a receiver of itself or of the whole or any
substantial part of its property, or file a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws, as now in effect or hereafter amended, or any other applicable law or statute of the United States or any state
thereof and Tenant does not cease all action in connection therewith within thirty (30) days from and after Tenant’s receipt of written notice thereof. 

18.1.5 A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a receiver of
Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in
effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within sixty (60) days from the date of entry thereof. 

19. REMEDIES. 
 19.1 Except as otherwise provided
in Article 20, upon the occurrence of any of the Events of Default described or referred to in Article 18, Landlord shall have the option to pursue any one or more of the following remedies without any notice or demand whatsoever, concurrently or
consecutively and not alternatively: 
 19.1.1 Landlord may, at its election, terminate this Lease or terminate Tenant’s right to
possession only, without terminating the Lease. 

  
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 19.1.2 Upon any termination of this Lease, whether by lapse of time or otherwise, or upon
any termination of Tenant’s right to possession without termination of the Lease, Tenant shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Landlord, and Tenant hereby grants to Landlord full and
free license to enter into and upon the Premises in such event and to repossess Landlord of the Premises as of Landlord’s former estate and to expel or remove Tenant and any others who may be occupying or be within the Premises and to remove
Tenant’s signs and other evidence of tenancy and all other property of Tenant therefrom without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer, and without incurring any liability for any damage resulting
therefrom, Tenant waiving any right to claim damages for such re-entry and expulsion, and without relinquishing Landlord’s right to rent or any other right given to Landlord under this Lease or by
operation of law. 
 19.1.3 Upon any termination of this Lease, whether by lapse of time or otherwise, Landlord shall be entitled to recover
as damages, all rent, including any amounts treated as additional rent under this Lease, and other sums due and payable by Tenant on the date of termination, plus as liquidated damages and not as a penalty, an amount equal to the sum of: (a) an
amount equal to the then present value of the rent reserved in this Lease for the residue of the stated Term of this Lease including any amounts treated as additional rent under this Lease and all other sums provided in this Lease to be paid by
Tenant, minus the fair rental value of the Premises for such residue; (b) the value of the time and expense necessary to obtain a replacement tenant or tenants, and the estimated expenses described in Section 19.1.4 relating to recovery of
the Premises, preparation for reletting and for reletting itself; and (c) the cost of performing any other covenants which would have otherwise been performed by Tenant. 

19.1.4 Upon any termination of Tenant’s right to possession only without termination of the Lease: 

19.1.4.1 Neither such termination of Tenant’s right to possession nor Landlord’s taking and holding possession thereof as provided
in Section 19.1.2 shall terminate the Lease or release Tenant, in whole or in part, from any obligation, including Tenant’s obligation to pay the rent, including any amounts treated as additional rent, under this Lease for the full Term,
and if Landlord so elects Tenant shall continue to pay to Landlord the entire amount of the rent as and when it becomes due, including any amounts treated as additional rent under this Lease, for the remainder of the Term plus any other sums
provided in this Lease to be paid by Tenant for the remainder of the Term. 
 19.1.4.2 Landlord shall use commercially reasonable efforts
to mitigate. Landlord and Tenant agree that nevertheless Landlord shall at most be required to use only the same efforts Landlord then uses to lease premises in the Building generally and that in any case that Landlord shall not be required to give
any preference or priority to the showing or leasing of the Premises or portions thereof over any other space that Landlord may be leasing or have available and may place a suitable prospective tenant in any such other space regardless of when such
other space becomes available and that Landlord shall have the right to relet the Premises for a greater or lesser term than that remaining under this Lease, the right to relet only a portion of the Premises, or a portion of the Premises or the
entire Premises as a part of a larger area, and the right to change the character or use of the Premises. In connection with or in preparation for any reletting, Landlord may, but shall not be required to, make repairs, alterations and additions in
or to the Premises and redecorate the same to the extent Landlord deems necessary or desirable, and Tenant shall pay the cost thereof, together with Landlord’s expenses of reletting, including, without limitation, any commission incurred by
Landlord, within thirty (30) days of Landlord’s demand. Landlord shall not be required to observe any instruction given by Tenant about any reletting or accept any tenant offered by Tenant unless such offered tenant has a credit-worthiness
acceptable to Landlord and leases the entire Premises upon terms and conditions including a rate of rent (after giving effect to all expenditures by 

  
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Landlord for tenant improvements, broker’s commissions and other leasing costs) all no less favorable to Landlord than as called for in this Lease, nor shall Landlord be required to make or
permit any assignment or sublease for more than the current term or which Landlord would not be required to permit under the provisions of Article 9. 

19.1.4.3 Until such time as Landlord shall elect to terminate the Lease and shall thereupon be entitled to recover the amounts specified in
such case in Section 19.1.3, Tenant shall pay to Landlord upon demand the full amount of all rent, including any amounts treated as additional rent under this Lease and other sums reserved in this Lease for the remaining Term, together with the
costs of repairs, alterations, additions, redecorating and Landlord’s expenses of reletting and the collection of the rent accruing therefrom (including reasonable attorney’s fees and broker’s commissions), as the same shall then be
due or become due from time to time, less only such consideration as Landlord may have received from any reletting of the Premises; and Tenant agrees that Landlord may file suits from time to time to recover any sums falling due under this Article
19 as they become due. Any proceeds of reletting by Landlord in excess of the amount then owed by Tenant to Landlord from time to time shall be credited against Tenant’s future obligations under this Lease but shall not otherwise be refunded to
Tenant or inure to Tenant’s benefit. 
 19.2 Upon the occurrence of an Event of Default, Landlord may (but shall not be obligated to)
cure such default at Tenant’s sole expense. Without limiting the generality of the foregoing, if Landlord determines in its reasonable discretion that (i) Tenant is not acting within a commercially reasonable time to maintain, repair or
replace anything for which Tenant is responsible under this Lease or to otherwise effect compliance with its obligations under this Lease; and (ii) such failure to act or effect compliance would cause injury to persons or property, Landlord
may, at Landlord’s option, enter into and upon the Premises and perform such maintenance, repair or replacement or effect compliance without being deemed in any manner guilty of trespass, eviction or forcible entry and detainer and without
incurring any liability for any damage or interruption of Tenant’s business resulting therefrom and Tenant agrees to reimburse Landlord within five (5) days of Landlord’s demand as additional rent, for any expenses which Landlord
actually incurs in thus effecting compliance with Tenant’s obligations under this Lease, plus interest from the date of expenditure by Landlord at the Wall Street Journal prime rate. 

19.3 Tenant understands and agrees that in entering into this Lease, Landlord is relying upon receipt of all the Annual and Monthly
Installments of Rent to become due with respect to all the Premises originally leased hereunder over the full Initial Term of this Lease for amortization, including interest at the Amortization Rate. For purposes hereof, the “Concession
Amount” shall be defined as the aggregate of all amounts forgone or expended by Landlord as free rent under the lease, under Exhibit B hereof for construction allowances (excluding therefrom any amounts expended by Landlord for Landlord’s
Work, as defined in Exhibit B), and for brokers’ commissions payable by reason of this Lease. Accordingly, Tenant agrees that if this Lease or Tenant’s right to possession of the Premises leased hereunder shall be terminated as of any date
(“Default Termination Date”) prior to the expiration of the full Initial Term hereof by reason of an Event of Default, there shall be due and owing to Landlord as of the day prior to the Default Termination Date, as rent in addition to all
other amounts owed by Tenant as of such Date, the amount (“Unamortized Amount”) of the Concession Amount determined as set forth below; provided, however, that in the event that such amounts are recovered by Landlord pursuant to any other
provision of this Article 19, Landlord agrees that it shall not attempt to recover such amounts pursuant to this Paragraph 19.3. For the purposes hereof, the Unamortized Amount shall be determined in the same manner as the remaining principal
balance of a mortgage with interest at the Amortization Rate payable in level payments over the same length of time as from the effectuation of the Concession concerned to the end of the full Initial Term of this Lease would be determined. 

  
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 19.4 If, on account of any Event of Default, it shall become necessary or appropriate for
Landlord to employ or consult with an attorney or collection agency concerning or to enforce or defend any of Landlord’s rights or remedies arising under this Lease or to collect any sums due from Tenant, Tenant agrees to pay all costs and fees
so incurred by Landlord, including, without limitation, reasonable attorneys’ fees and costs. LANDLORD AND TENANT EXPRESSLY WAIVE ANY RIGHT TO: (A) TRIAL BY JURY; AND (B) SERVICE OF ANY NOTICE REQUIRED BY ANY PRESENT OR FUTURE LAW
OR ORDINANCE APPLICABLE TO LANDLORDS OR TENANTS BUT NOT REQUIRED BY THE TERMS OF THIS LEASE. 
 19.5 Pursuit of any of the
foregoing remedies shall not preclude pursuit of any of the other remedies provided in this Lease or any other remedies provided by law (all such remedies being cumulative), nor shall pursuit of any remedy provided in this Lease constitute a
forfeiture or waiver of any rent due to Landlord under this Lease or of any damages accruing to Landlord by reason of the violation of any of the terms, provisions and covenants contained in this Lease. 

19.6 No act or thing done by Landlord or its agents during the Term shall be deemed a termination of this Lease or an acceptance of the
surrender of the Premises, and no agreement to terminate this Lease or accept a surrender of said Premises shall be valid, unless in writing signed by Landlord. No waiver by Landlord of any violation or breach of any of the terms, provisions and
covenants contained in this Lease shall be deemed or construed to constitute a waiver of any other violation or breach of any of the terms, provisions and covenants contained in this Lease. Landlord’s acceptance of the payment of rental or
other payments after the occurrence of an Event of Default shall not be construed as a waiver of such Default, unless Landlord so notifies Tenant in writing. Forbearance by Landlord in enforcing one or more of the remedies provided in this Lease
upon an Event of Default shall not be deemed or construed to constitute a waiver of such Event of Default or of Landlord’s right to enforce any such remedies with respect to such Event of Default or any subsequent Event of Default. 

19.7 To secure the payment of all rentals and other sums of money becoming due from Tenant under this Lease, Landlord shall have and Tenant
grants to Landlord a first lien upon the leasehold interest of Tenant under this Lease, which lien may be enforced in equity, and a continuing security interest upon all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract
rights, chattel paper and other personal property of Tenant situated on the Premises, and such property shall not be removed therefrom without the consent of Landlord until all arrearages in rent as well as any and all other sums of money then due
to Landlord under this Lease shall first have been paid and discharged. Upon the occurrence of an Event of Default, Landlord shall have, in addition to any other remedies provided in this Lease or by law, all rights and remedies under the Uniform
Commercial Code, including without limitation the right to sell the property described in this Section 19.7 at public or private sale upon five (5) days’ notice to Tenant. Tenant shall execute all such financing statements and other
instruments as shall be deemed necessary or desirable in Landlord’s discretion to perfect the security interest hereby created. 
 19.8
Upon the Event of Default by Tenant and the termination of this Lease or Tenant’s rights of possession as provided herein, any and all property which may be removed from the Premises by Landlord pursuant to the authority of this Lease or of
law, to which Tenant is or may be entitled, may be handled, removed and/or stored, as the case may be, by or at the direction of Landlord but at the risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value,
preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord’s possession or under
Landlord’s control. Any such property of Tenant not retaken by Tenant from storage within thirty (30) days after removal from the Premises shall, at Landlord’s option, be deemed conveyed by Tenant to Landlord under this Lease as by a
bill of sale without further payment or credit by Landlord to Tenant. 

  
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 19.9 If Tenant breaches a covenant or fails to perform a particular obligation provided in
this Lease more than three (3) times during the Term (or any extension thereof) and such breach or failure constitutes an Event of Default each time same occurs, Tenant’s extension options and Tenant’s rights of first offer provided
in this Lease shall be null and void following the third (3rd) time that an Event of Default occurs. 
 20. TENANT’S BANKRUPTCY OR INSOLVENCY. 

20.1 If at any time and for so long as Tenant shall be subjected to the provisions of the United States Bankruptcy Code or other law of the
United States or any state thereof for the protection of debtors as in effect at such time (each a “Debtor’s Law”): 
 20.1.1
Tenant, Tenant as debtor-in-possession, and any trustee or receiver of Tenant’s assets (each a “Tenant’s Representative”) shall have no greater right
to assume or assign this Lease or any interest in this Lease, or to sublease any of the Premises than accorded to Tenant in Article 9, except to the extent Landlord shall be required to permit such assumption, assignment or sublease by the
provisions of such Debtor’s Law. Without limitation of the generality of the foregoing, any right of any Tenant’s Representative to assume or assign this Lease or to sublease any of the Premises shall be subject to the conditions that:

 20.1.1.1 Such Debtor’s Law shall provide to Tenant’s Representative a right of assumption of this Lease which Tenant’s
Representative shall have timely exercised and Tenant’s Representative shall have fully cured any Event of Default of Tenant under this Lease. 

20.1.1.2 Tenant’s Representative or the proposed assignee, as the case shall be, shall have deposited with Landlord as security for the
timely payment of rent an amount equal to the larger of: (a) three (3) months’ rent and other monetary charges accruing under this Lease; and (b) any sum specified in Article 5; and shall have provided Landlord with adequate other
assurance of the future performance of the obligations of the Tenant under this Lease. Without limitation, such assurances shall include, at least, in the case of assumption of this Lease, demonstration to the reasonable satisfaction of the Landlord
that Tenant’s Representative has and will continue to have sufficient unencumbered assets after the payment of all secured obligations and administrative expenses to assure Landlord that Tenant’s Representative will have sufficient funds
to fulfill the obligations of Tenant under this Lease; and, in the case of assignment, submission of current financial statements of the proposed assignee, audited by an independent certified public accountant reasonably acceptable to Landlord and
showing a net worth and working capital in amounts determined by Landlord (in its reasonable discretion) to be sufficient to assure the future performance by such assignee of all of the Tenant’s obligations under this Lease. 

20.1.1.3 The assumption or any contemplated assignment of this Lease or subleasing any part of the Premises, as shall be the case, will not
breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound. 
 20.1.1.4 Landlord
shall have, or would have had absent the Debtor’s Law, no right under Article 9 to refuse consent to the proposed assignment or sublease by reason of the identity or nature of the proposed assignee or sublessee or the proposed use of the
Premises concerned. 
 21. QUIET ENJOYMENT. Landlord represents and warrants that it has full right and authority to enter into this Lease and that Tenant,
so long as no Event of Default exists hereunder, shall peaceably and quietly have, hold and enjoy the Premises for the Term without hindrance or molestation from Landlord subject to the terms and provisions of this Lease. Landlord shall not be
liable for any interference or disturbance by other tenants or third persons, nor shall Tenant be released from any of the obligations of this Lease because of such interference or disturbance. 

  
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 22. CASUALTY 

22.1 In the event the Premises or the Building are damaged by fire or other cause and in Landlord’s reasonable estimation such damage can
be materially restored within one hundred twenty (120) days, Landlord shall forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant shall be entitled to a proportionate abatement in rent from the date
of such damage until thirty (30) days following the complete restoration of the damage by Landlord. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere
with the use and occupancy by Tenant of the Premises from time to time. Within forty-five (45) days from the date of such damage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within
which material restoration can be made. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” when they are returned substantially to the condition that existed immediately before such damage subject to
compliance with Legal Requirements. The parties hereby agree that Landlord shall have the obligation to restore the Tenant’s Work and the Alterations to substantially the same condition that existed immediately before such damage subject to
compliance with Legal Requirements. 
 22.2 If such repairs cannot, in Landlord’s reasonable estimation, be made within one hundred
eighty (180) days, Landlord and Tenant shall each have the option of giving the other, at any time within ninety (90) days after such damage, notice terminating this Lease as of the date of such damage. In the event of the giving of such
notice, this Lease shall expire and all interest of the Tenant in the Premises shall terminate as of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord
nor Tenant exercises its option to terminate this Lease, then Landlord shall materially restore (as such term is defined above) the Building and the Premises, this Lease shall continue in full force and effect, and all rent hereunder shall be
proportionately abated as provided in Section 22.1. 
 22.3 Other than Landlord’s obligation to restore the Tenant’s Work and
the Alterations to substantially the same condition that existed immediately before such damage as set forth herein, Landlord shall not be required to repair or replace any damage or loss by or from fire or other cause to any improvements (which are
not part of Tenant’s Work or Alterations), office fixtures, furniture, equipment or any other property installed on the Premises by, or belonging to, Tenant. Any insurance which may be carried by Landlord or Tenant against loss or damage to the
Building or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control. 
 22.4 In the event
that Landlord should fail to complete such repairs and material restoration within sixty (60) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate
this Lease by delivering written notice to Landlord, within fifteen (15) days after the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such
notice was the date originally fixed in this Lease for the expiration of the Term; provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts
of God, war, material or labor shortages, government regulation or control or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed.

  
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 22.5 Notwithstanding anything to the contrary contained in this Article: (a) Landlord
shall not have any obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term or any
extension thereof, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises untenantable Tenant shall have the right to terminate this Lease by notice to
Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds be
applied to such indebtedness, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such holder, whereupon this Lease
shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term. 

22.6 In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions of this Article 22, it shall
be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord to remove forthwith, at its sole cost and expense, such portion of all of the property belonging to Tenant or its licensees from such portion or all of the
Building or Premises as Landlord shall request. 
 23. EMINENT DOMAIN. If all or any substantial part of the Premises shall be taken or appropriated by any
public or quasi-public authority under the power of eminent domain, or conveyance in lieu of such appropriation, either party to this Lease shall have the right, at its option, of giving the other, at any time within thirty (30) days after such
taking, notice terminating this Lease, except that Tenant may only terminate this Lease by reason of taking or appropriation, if such taking or appropriation shall be so substantial as to materially interfere with Tenant’s use and occupancy of
the Premises. If neither party to this Lease shall so elect to terminate this Lease, the rental thereafter to be paid shall be adjusted on a fair and equitable basis under the circumstances. In addition to the rights of Landlord above, if any
substantial part of the Building shall be taken or appropriated by any public or quasi-public authority under the power of eminent domain or conveyance in lieu thereof, and regardless of whether the Premises or any part thereof are so taken or
appropriated, Landlord shall have the right, at its sole option, to terminate this Lease. Landlord shall be entitled to any and all income, rent, award, or any interest whatsoever in or upon any such sum, which may be paid or made in connection with
any such public or quasi-public use or purpose, and Tenant hereby assigns to Landlord any interest it may have in or claim to all or any part of such sums, other than any separate award which may be made with respect to Tenant’s trade fixtures
and moving expenses; Tenant shall make no claim for the value of any unexpired Term. 
 24. SALE BY LANDLORD. In event of a sale or conveyance by Landlord
of the Building, the same shall operate to release Landlord from any future liability upon any of the covenants or conditions, expressed or implied, contained in this Lease in favor of Tenant, and in such event Tenant agrees to look solely to the
responsibility of the successor in interest of Landlord in and to this Lease. Except as set forth in this Article 24, this Lease shall not be affected by any such sale and Tenant agrees to attorn to the purchaser or assignee. If any security has
been given by Tenant to secure the faithful performance of any of the covenants of this Lease, Landlord may transfer or deliver said security, as such, to Landlord’s successor in interest and thereupon Landlord shall be discharged from any
further liability with regard to said security. 
 25. ESTOPPEL CERTIFICATES. Within ten (10) business days following any written request which
Landlord may make from time to time, Tenant shall execute and deliver to Landlord or mortgagee or prospective mortgagee a sworn statement certifying: (a) the date of commencement of this Lease; (b) the fact that this Lease is unmodified
and in full force and effect (or, if there have been modifications to this 

  
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Lease, that this Lease is in full force and effect, as modified, and stating the date and nature of such modifications); (c) the date to which the rent and other sums payable under this Lease
have been paid; (d) the fact that there are no current defaults under this Lease by either Landlord or Tenant except as specified in Tenant’s statement; and (e) such other matters as may be requested by Landlord. Landlord and Tenant
intend that any statement delivered pursuant to this Article 25 may be relied upon by any mortgagee, beneficiary or purchaser, and Tenant shall be liable for all loss, cost or expense resulting from the failure of any sale or funding of any
loan caused by any material misstatement contained in such estoppel certificate. Tenant irrevocably agrees that if Tenant fails to execute and deliver such certificate within such ten (10) business day period Landlord or Landlord’s
beneficiary or agent may execute and deliver such certificate on Tenant’s behalf, and that such certificate shall be fully binding on Tenant. 
 26.
SURRENDER OF PREMISES. 
 26.1 Tenant and Landlord shall arrange to meet for two (2) joint inspections of the Premises, the first to
occur at least thirty (30) days (but no more than sixty (60) days) before the last day of the Term, and the second to occur not later than forty-eight (48) hours after Tenant has vacated the Premises. 

26.2 All alterations, additions, and improvements in, on, or to the Premises made or installed by or for Tenant, including, without
limitation, carpeting (collectively, “Alterations”), shall be and remain the property of Tenant during the Term. Upon the expiration or sooner termination of the Term, all Alterations shall become a part of the realty and shall belong to
Landlord without compensation, and title shall pass to Landlord under this Lease as by a bill of sale. At the end of the Term or any extension of the Term or other sooner termination of this Lease, Tenant will peaceably deliver up to Landlord
possession of the Premises, together with all Alterations by whomsoever made, in the same conditions received or first installed, broom clean and free of all debris, excepting only damage caused by Landlord, ordinary wear and tear and damage by fire
or other casualty. Notwithstanding the foregoing, (i) if Landlord elects at the time Landlord reviews and approves Tenant’s plans for any Alterations that certain Specialty Alterations (as defined below) must be removed, Tenant shall, at
Tenant’s sole cost, remove such Specialty Alterations so designated by Landlord in writing at the time of consent, and repair any damage caused by such removal, and (ii) Tenant must, at Tenant’s sole cost, remove upon termination of
this Lease, any and all of Tenant’s furniture, furnishings, equipment, movable partitions of less than full height from floor to ceiling and other trade fixtures and personal property, (collectively, “Personalty”). Personalty not so
removed shall be deemed abandoned by the Tenant and title to the same shall thereupon pass to Landlord under this Lease as by a bill of sale, but Tenant shall remain responsible for the cost of removal and disposal of such Personalty, as well as any
damage caused by such removal. As used herein the Term “Specialty Alterations” shall mean any alterations which would cost substantially more to remove than normal office improvements such as internal stairwells and private showers and
private restroom facilities, raised flooring, all specialty wall applications such as Ideapaint, wallpaper, specialty films on glass and all other wall applications. Notwithstanding anything contained herein to the contrary, Tenant shall not be
required to remove any improvements installed by Landlord, the Premises HVAC Work, the Premises Fire/Life Safety Work or any data/telecommunications cabling and wiring installed by or on behalf of Tenant or existing as of the Commencement Date,
whether inside walls, under any raised floor or above any ceiling. 
 26.3 All obligations of Tenant under this Lease not fully performed as
of the expiration or earlier termination of the Term shall survive the expiration or earlier termination of the Term. Upon the expiration or earlier termination of the Term, Tenant shall pay to Landlord the amount, as reasonably estimated by
Landlord, necessary to repair and restore the Premises as provided in this Lease and/or to discharge Tenant’s obligation for unpaid amounts due or to become due to Landlord. All such amounts shall be used and held by Landlord for payment of
such obligations of Tenant, with Tenant being liable for any additional costs upon demand by Landlord, or with any excess to be returned to Tenant after all such obligations have been determined and satisfied. Any otherwise unused Security Deposit
shall be credited against the amount payable by Tenant under this Lease. 

  
 28 

 27. NOTICES. Any notice or document required or permitted to be delivered under this Lease shall be
addressed to the intended recipient, by fully prepaid registered or certified United States Mail return receipt requested, or by reputable independent contract delivery service furnishing a written record of attempted or actual delivery, and shall
be deemed to be delivered when tendered for delivery to the addressee at its address set forth on the Reference Pages, or at such other address as it has then last specified by written notice delivered in accordance with this Article 27, or if to
Tenant at either its aforesaid address or its last known registered office or home of a general partner or individual owner, so long as same is actually accepted or received by the addressee. Any such notice or document may also be personally
delivered if a receipt is signed by and received from, the individual, if any, named in Tenant’s Notice Address. 
 28. TAXES PAYABLE BY TENANT. In
addition to rent and other charges to be paid by Tenant under this Lease, Tenant shall reimburse to Landlord, upon demand, any and all taxes payable by Landlord (other than net income taxes) whether or not now customary or within the contemplation
of the parties to this Lease: (a) upon, allocable to, or measured by or on the gross or net rent payable under this Lease, including without limitation any gross income tax or excise tax levied by the State, any political subdivision thereof,
or the Federal Government with respect to the receipt of such rent; (b) upon or with respect to the possession, leasing, operation, management, maintenance, alteration, repair, use or occupancy of the Premises or any portion thereof, including
any sales, use or service tax imposed as a result thereof; (c) upon or measured by the Tenant’s gross receipts or payroll or the value of Tenant’s equipment, furniture, fixtures and other personal property of Tenant or leasehold
improvements, alterations or additions located in the Premises; or (d) upon this transaction or any document to which Tenant is a party creating or transferring any interest of Tenant in this Lease or the Premises. In addition to the foregoing,
Tenant agrees to pay, before delinquency, any and all taxes levied or assessed against Tenant and which become payable during the term hereof upon Tenant’s equipment, furniture, fixtures and other personal property of Tenant located in the
Premises. 
 29. DEFINED TERMS AND HEADINGS. The Article headings shown in this Lease are for convenience of reference and shall in no way define, increase,
limit or describe the scope or intent of any provision of this Lease. Any indemnification or insurance of Landlord shall apply to and inure to the benefit of all the following “Landlord Entities”, being Landlord, Landlord’s investment
manager, and the trustees, boards of directors, officers, general partners, beneficiaries, stockholders, employees and agents of each of them. Any option granted to Landlord shall also include or be exercisable by Landlord’s trustee,
beneficiary, agents and employees, as the case may be. In any case where this Lease is signed by more than one person, the obligations under this Lease shall be joint and several. The terms “Tenant” and “Landlord” or any pronoun
used in place thereof shall indicate and include the masculine or feminine, the singular or plural number, individuals, firms or corporations, and their and each of their respective successors, executors, administrators and permitted assigns,
according to the context hereof. The term “rentable area” shall mean the rentable area of the Premises or the Building as calculated by the Landlord on the basis of the plans and specifications of the Building including a proportionate
share of any common areas. Tenant hereby accepts and agrees to be bound by the figures for the rentable square footage of the Premises and Tenant’s Proportionate Share shown on the Reference Pages; however, there will be an adjustment of either
or both figures if there is an actual addition or subtraction to the Building, otherwise, there shall be no remeasurement of the Premises during the Term (or any extensions thereof). The term “Building” refers to the structure in which the
Premises are located and the common areas (parking lots, sidewalks, landscaping, etc.) appurtenant thereto. If the Building is part of a larger complex of structures, the term “Building” may include the entire complex, where appropriate
(such as shared Expenses or Taxes) 

  
 29 

 
and subject to Landlord’s reasonable discretion. Notwithstanding anything in this Lease to the contrary, in all instances in this Lease and all Exhibits attached hereto, if no time frame for
payment is provided but the terms require that Tenant must pay Landlord or Landlord pay Tenant any sum “on demand” or “upon demand” or “immediately pay” or “promptly pay” or words of similar import, such
demand shall be in writing and the party to which the demand is made shall have ten (10) business days following the receipt of such written demand to make such payment. In all instances where Landlord provides notice to Tenant or Tenant
provides notice to Landlord, such notice must be in writing unless the terms of this Lease specifically provide for oral notice (in the case of an emergency). 

30. TENANT’S AUTHORITY. If Tenant signs as a corporation, partnership, trust or other legal entity each of the persons executing this Lease on behalf of
Tenant represents and warrants that Tenant has been and is qualified to do business in the state in which the Building is located, that the entity has full right and authority to enter into this Lease, and that all persons signing on behalf of the
entity were authorized to do so by appropriate actions. 
 Tenant hereby represents and warrants that neither Tenant, nor any persons or
entities holding any legal or beneficial interest whatsoever in Tenant, are (i) the target of any sanctions program that is established by Executive Order of the President or published by the Office of Foreign Assets Control, U.S. Department of
the Treasury (“OFAC”); (ii) designated by the President or OFAC pursuant to the Trading with the Enemy Act, 50 U.S.C. App. § 5, the International Emergency Economic Powers Act, 50 U.S.C. §§
1701-06, the Patriot Act, Public Law 107-56, Executive Order 13224 (September 23, 2001) or any Executive Order of the President issued pursuant to such statutes; or
(iii) named on the following list that is published by OFAC: “List of Specially Designated Nationals and Blocked Persons.” If the foregoing representation is untrue at any time during the Term, an Event of Default will be deemed to
have occurred, without the necessity of notice to Tenant. 
 31. FINANCIAL STATEMENTS AND CREDIT REPORTS. Within thirty (30) days after Landlord’s
written request therefor (but not more often than one (1) time per calendar year unless such request is in connection with a sale or refinance of the Building or an Event of Default exists by Tenant hereunder), Tenant shall deliver to Landlord
a copy, certified by an officer of Tenant as being a true and correct copy, of Tenant’s most recent audited financial statement, or, if unaudited, certified by Tenant’s chief financial officer as being true, complete and correct in all
material respects. Tenant hereby authorizes Landlord to obtain one or more credit reports on Tenant at any time, and shall execute such further authorizations as Landlord may reasonably require in order to obtain a credit report. 

32. COMMISSIONS. Each of the parties represents and warrants to the other that it has not dealt with any broker or finder in connection with this Lease,
except as described on the Reference Pages. 
 33. TIME AND APPLICABLE LAW. Time is of the essence of this Lease and all of its provisions. This Lease shall
in all respects be governed by the laws of the state in which the Building is located. 
 34. SUCCESSORS AND ASSIGNS. Subject to the provisions of Article
9, the terms, covenants and conditions contained in this Lease shall be binding upon and inure to the benefit of the heirs, successors, executors, administrators and assigns of the parties to this Lease. 

35. ENTIRE AGREEMENT. This Lease, together with its exhibits, contains all agreements of the parties to this Lease and supersedes any previous negotiations.
There have been no representations made by the Landlord or any of its representatives or understandings made between the parties other than those set forth in this Lease and its exhibits. This Lease may not be modified except by a written instrument
duly executed by the parties to this Lease. 

  
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 36. EXAMINATION NOT OPTION. Submission of this Lease shall not be deemed to be a reservation of the
Premises. Landlord shall not be bound by this Lease until it has received a copy of this Lease duly executed by Tenant and has delivered to Tenant a copy of this Lease duly executed by Landlord, and until such delivery Landlord reserves the right to
exhibit and lease the Premises to other prospective tenants. Notwithstanding anything contained in this Lease to the contrary, Landlord may withhold delivery of possession of the Premises from Tenant until such time as Tenant has paid to Landlord
any security deposit required by Article 5, the first month’s rent as set forth in Article 3 and any sum owed pursuant to this Lease. 
 37.
RECORDATION. Tenant shall not record or register this Lease or a short form memorandum hereof without the prior written consent of Landlord, and then shall pay all charges and taxes incident such recording or registration. 

38. SELF-HELP. If Landlord fails to make any repairs to the Building which prevents Tenant from its realization of the intended material economic benefit from
the Premises for more than thirty (30) days following written notice of such required repair from Tenant, Tenant may provide Landlord with a second written notice of Tenant’s election to make the required repairs in the event Landlord does
not commence such repairs within five (5) days. If Landlord fails to commence such repairs within such five (5) day period, Tenant may make such repairs using contractors who are reasonably acceptable to Landlord and who maintain the
insurance required by Landlord. Such repair work shall be performed by Tenant in a good and workmanlike manner. Landlord shall pay the reasonable out-of-pocket cost of
such repairs to Tenant within thirty (30) days after receipt of an invoice therefor. 
 39. LIMITATION OF LANDLORD’S LIABILITY. Redress for any
claim against Landlord under this Lease shall be limited to and enforceable only against and to the extent of Landlord’s interest in the Building and the land upon which the same was built, including all rents, sale, insurance and condemnation
proceeds, and subject to the rights of any mortgagee of Landlord which is unrelated to Landlord, and of Landlord to use such proceeds or awards for reconstruction, the insurance proceeds and taking awards therefor. The obligations of Landlord under
this Lease are not intended to be and shall not be personally binding on, nor shall any resort be had to the private properties of, any of its or its investment manager’s trustees, directors, officers, partners, beneficiaries, members,
stockholders, employees, or agents, and in no case shall Landlord be liable to Tenant hereunder for any lost profits, damage to business, or any form of special, indirect or consequential damages. The obligations of Tenant under this Lease are not
intended to be and shall not be personally binding on, nor shall any resort be had to the private properties of, any of its directors, officers, partners, beneficiaries, members, stockholders, employees, or agents. Except for Tenant’s liability
under Section 14 of this Lease, in no event shall either party be liable to the other for any loss of business or any other indirect or consequential damages suffered by such party from whatever cause. 

40. RIGHT OF FIRST OFFER. Provided no Event of Default exists under this Lease, and subject to the Initial Lease Up (as hereinafter defined), Tenant shall
have the right to lease any space on the second or fifth floors of the Building (any such space, referred to as an “Expansion Space”) when it becomes available, as defined below. The term “Initial Lease Up” shall refer to the
initial leases (and any extensions or renewals thereof) entered into by Landlord with third party tenants for all or any portion of the Expansion Space on the second (2nd) floor of the Building following the date of this Lease. Space is
“available” for purposes of this Article when (i) it is vacated by the prior tenant, such tenant’s lease having expired or been terminated by Landlord, or the space is scheduled to be vacant and Landlord currently desires to
begin marketing the space, (ii) any tenants having superior rights to such space have declined or failed to exercise such rights, and (iii) Landlord intends to market such space for lease. In such event, Landlord shall give written notice
to Tenant of the date of availability of the Expansion Space and the terms and conditions on which Landlord intends to offer it to the public (the “Offer Notice”) and Tenant shall have a period of ten

  
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(10) days in which to exercise Tenant’s right to lease the Expansion Space pursuant to the Offer Notice, failing which Landlord may lease the Expansion Space to any third party on whatever
basis Landlord desires, and Tenant shall have no further rights with respect to the Expansion Space. Notwithstanding the foregoing, if Landlord leases a particular Expansion Space to a third party pursuant to the preceding sentence and such
Expansion Space is subsequently vacated again during the Term of this Lease or any renewal hereof or, if Landlord intends to offer the Expansion Space on terms which are ten (10%) or more economically favorable to the tenant than the terms set forth
in the Offer Notice on a net effective basis, Landlord shall re-offer the Expansion Space to Tenant as provided herein on such more economically favorable terms and Tenant shall again have a new right of first
offer to lease such Expansion Space. Notwithstanding the foregoing, Landlord shall have the absolute right to renew or extend any existing tenant’s lease then leasing the Expansion Space. If Tenant exercises its right to lease hereunder,
effective as of the date Landlord delivers the Expansion Space, the Expansion Space shall automatically be included within the Premises and subject to all the terms and conditions of the Lease, except as set forth in the Offer Notice and as follows:

 40.1 The Term of the Lease for the Offer Space shall commence upon the date on which the Offer Space is delivered to Tenant in the
condition required by the Offer Notice (if applicable) and shall end on the Termination Date. 
 40.2 Tenant’s Proportionate Share
shall be recalculated, using the total square footage of the Premises, as increased by the Expansion Space. 
 40.3 The Expansion Space
shall be leased on an “as is” basis and Landlord shall have no obligation to improve the Expansion Space or grant Tenant any improvement allowance thereon. 

40.4 Prior to the beginning of the term for the Expansion Space, Landlord and Tenant shall execute a written memorandum confirming the
inclusion of the Expansion Space and the Annual Rent for the Expansion Space. 
 40.5 Notwithstanding the foregoing, Tenant shall have no
right to lease the Expansion Space if, as of the date on which the Offer Space is to be delivered to Tenant as set forth in the Offer Notice, less than two (2) years remain in the Term. However, if Tenant has a remaining renewal option which,
if properly exercised, would extend the Termination Date of this Lease such that at least two (2) years will remain in the Term, Tenant shall have the right to lease the Expansion Space if, concurrently with its exercise of that right, it also
exercises such renewal option. 
 40.6 Nothing herein shall be construed as to prohibit Landlord from extending the term of the lease of any
existing tenant. 
 This option is not transferable; the parties hereto acknowledge and agree that they intend that the aforesaid right of first offer shall
be “personal” to the originally-named Tenant as set forth above and any Permitted Transferee and that in no event will any assignee or sublessee (other than an assignee that is a Permitted Transferee) have any rights to exercise the
aforesaid right. 
 41. EXTENSION OPTIONS. Tenant shall, provided the Lease is in full force and effect and there is no uncured Event of Default at the time
of notification or commencement, have two (2) options to extend the Term of this Lease for a term of five (5) years each (each an “Extension Term” and collectively, the 

  
 32 

 
“Extension Terms”), for a minimum of two (2) contiguous floors of the Premises, on the same terms and conditions set forth in the Lease, except as modified by the terms, covenants
and conditions as set forth below: 
 41.1 If Tenant elects to exercise said option, then Tenant shall provide Landlord with written notice
no earlier than the date which is fifteen (15) months prior to the expiration of the then current Term of the Lease (unless Tenant is exercising same in conjunction with an exercise of the right of first offer described above) but no later than
the date which is twelve (12) months prior to the expiration of the then current Term of this Lease. If Tenant fails to provide such notice, time being of the essence, Tenant shall have no further or additional right to extend or renew the term
of the Lease. 
 41.2 The Annual Rent and Monthly Installment in effect at the expiration of the then current term of the Lease shall be
increased for each Extension Term as hereinafter provided. The Annual Rent and Monthly Installment for the first Extension Term shall be increased to equal the then current fair market rental for comparable space in similar buildings in the same
rental market as of the date the applicable Extension Term is to commence, taking into account the specific provisions of the Lease which will remain constant and taking into consideration that the Base Year for each Extension Term shall be
readjusted to be the actual Expenses and Taxes for the first full calendar year of the Extension Term. Landlord shall advise Tenant of the new Annual Rent and Monthly Installment for the Premises no later than thirty (30) days after receipt of
Tenant’s written request to exercise an Extension Term. Said request shall be made no earlier than thirty (30) days prior to the first date on which Tenant may exercise its option under this Paragraph. Said notification of the new Annual
Rent may include a provision for its escalation to provide for a change in fair market rental between the time of notification and the commencement of the extension term. If Landlord and Tenant are unable to agree on a mutually acceptable fair
market rental within thirty (30) days after Tenant’s exercise of the first extension option, then Landlord and Tenant shall each appoint a qualified commercial real estate retail broker doing business in Boston, Massachusetts that is not
currently engaged to represent the party appointing such broker and who has at least ten (10) years of relevant experience in the market in which the Building is located. Those brokers shall, in turn, appoint a third commercial real estate
retail broker doing business in Boston, Massachusetts that is not currently engaged to represent Landlord or Tenant and who is similarly qualified and the majority determination of the three brokers shall be the fair market rental for the Premises
for the determining the Annual Rent for the first Extension Term. Landlord and Tenant shall equally share in the expense of this appraisal. 

41.3 This option is not transferable; the parties hereto acknowledge and agree that they intend that the aforesaid option to extend the Term
of this Lease shall be “personal” to the originally-named Tenant as set forth above and that, except in connection with a transfer to a Permitted Transferee pursuant to Section 9.8, in no event will any assignee or sublessee (other
than a Permitted Transferee) have any rights to exercise the aforesaid option to renew. 
 As each extension option is exercised, the number of extension
options remaining to be exercised is reduced by one and upon exercise of the last of the two (2) extension options, Tenant shall have no further right to extend the Term of this Lease. 

42. ROOFTOP ANTENNA. Landlord agrees that Tenant may install, at Tenant’s expense and for its own internal business use (and not for the purpose of
granting access to others, whether or not for profit), a satellite or other antenna communications system (collectively, “Tenant’s Communications Equipment”) on the roof of the Building or the mezzanine space in the loading dock at a
location reasonably designed by Landlord. Without limiting the generality of the foregoing, the installation, size and location of Tenant’s Communications Equipment must comply with all governmental requirements (local, state and federal).
Prior to installation of Tenant’s Communications Equipment, Tenant shall furnish plans and specifications for installation of Tenant’s Communications Equipment and its location and installation (which installation shall not involve any
penetration of the roof) to Landlord for its approval, which approval shall not be unreasonably withheld or delayed. In addition, prior to installation of Tenant’s Communications Equipment, Tenant shall obtain all necessary governmental permits
and approvals and deliver copies 

  
 33 

 
thereof to Landlord. All costs related to Tenant’s Communications Equipment shall be paid by Tenant, including all costs of installation, screening (if reasonably required by Landlord or any
governmental entity), maintenance, repair, restoration and removal. If requested by Landlord in connection with required maintenance and repair of the roof, no more often than once during the Term, Tenant will, at Tenant’s expense, move
Tenant’s Communications Equipment to another location on the roof selected by Landlord and reasonably acceptable to Tenant. Tenant acknowledges that Landlord may also install or grant to others the right to install microwave, satellite or other
antenna communications systems on the roof so long as same does not unreasonably interfere with Tenant’s Communications Equipment. Upon the expiration or sooner termination of the Term, Tenant shall, at Tenant’s sole cost, remove
Tenant’s Communications Equipment and all appurtenances and related equipment, and repair any damage caused by such removal. Tenant shall be responsible for any damage to the roof or mezzanine space, or any impairment of any existing roof
warranty, resulting from the installation, use, maintenance, operation or removal of Tenant’s Communications Equipment and related equipment. Tenant shall be responsible for any damage to the roof, or any impairment to Landlord’s roof
warranty, resulting from the installation, use, maintenance, operation or removal of Tenant’s Communications Equipment and related equipment, and must coordinate any roof work, including roof penetrations, if any, with Landlord’s roofing
contractor. Tenant shall also be responsible for all cost and coordination of temporary removal or relocation of Tenant’s Communications Equipment to the extent required in connection with roof or Building maintenance or repairs. Tenant shall
be responsible for any interference with any existing systems located at the Building caused by Tenant’s Communications Equipment. Notwithstanding the foregoing, Tenant’s rights under this Section shall be subject to availability and the
execution of a license agreement between Landlord and Tenant’s proposed provider of any services related to such Tenant’s Communications Equipment. 
  

									
	LANDLORD:	 		 	TENANT:
			
	281 SUMMER STREET LLC, a Delaware limited	 		 	BRIGHTCOVE INC., a Delaware corporation
	liability company	 		 		 	
					
	By:	 	 /s/ Gerald F. Ianetta
	 		 	By:	 	 /s/ Robert Noreck

	Name:	 	Gerald F. Ianetta	 		 	Name:	 	Robert Noreck
	Title:	 	Vice President	 		 	Title:	 	CFO
					
	By:	 	 /s/ David F. Crane
	 		 		 	
	Name:	 	David F. Crane	 		 		 	
	Title:	 	Vice President	 		 		 	

  
 34

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