Document:

EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
 ANDEAVOR 

INDENTURE 
 Dated as of
December 21, 2017 
 U.S. Bank National Association 

Trustee 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	ARTICLE I	  			
		
	 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
			
	 SECTION 1.01
	  	 Definitions
	  	 	1	 
			
	 SECTION 1.02
	  	 Other Definitions
	  	 	10	 
			
	 SECTION 1.03
	  	 Incorporation by Reference of Trust Indenture Act
	  	 	10	 
			
	 SECTION 1.04
	  	 Rules of Construction
	  	 	11	 
		
	ARTICLE II	  			
		
	 THE SECURITIES
	  	 	12	 
			
	 SECTION 2.01
	  	 Form and Dating
	  	 	12	 
			
	 SECTION 2.02
	  	 Securities in Global Form
	  	 	12	 
			
	 SECTION 2.03
	  	 Amount Unlimited; Issuable in Series
	  	 	12	 
			
	 SECTION 2.04
	  	 Execution and Authentication
	  	 	15	 
			
	 SECTION 2.05
	  	 Paying Agent to Hold Money in Trust
	  	 	16	 
			
	 SECTION 2.06
	  	 Holder Lists
	  	 	16	 
			
	 SECTION 2.07
	  	 Transfer and Exchange
	  	 	16	 
			
	 SECTION 2.08
	  	 Replacement Securities
	  	 	18	 
			
	 SECTION 2.09
	  	 Outstanding Securities
	  	 	18	 
			
	 SECTION 2.10
	  	 Treasury Securities
	  	 	18	 
			
	 SECTION 2.11
	  	 Temporary Securities
	  	 	19	 
			
	 SECTION 2.12
	  	 Cancellation
	  	 	19	 
			
	 SECTION 2.13
	  	 Defaulted Interest
	  	 	19	 
			
	 SECTION 2.14
	  	 CUSIP Numbers
	  	 	19	 
		
	ARTICLE III	  			
		
	 REDEMPTION AND PREPAYMENT
	  	 	19	 
			
	 SECTION 3.01
	  	 Applicability of Article
	  	 	19	 
			
	 SECTION 3.02
	  	 Election to Redeem; Notice to Trustee
	  	 	20	 

  
 i 

							
			
	 SECTION 3.03
	  	 Selection of Securities to be Redeemed
	  	 	20	 
			
	 SECTION 3.04
	  	 Notice of Redemption
	  	 	20	 
			
	 SECTION 3.05
	  	 Effect of Notice of Redemption
	  	 	21	 
			
	 SECTION 3.06
	  	 Deposit of Redemption Price
	  	 	22	 
			
	 SECTION 3.07
	  	 Securities Redeemed in Part
	  	 	22	 
			
	 SECTION 3.08
	  	 Securities No Longer Outstanding After Notice to Trustee and Deposit of Money
	  	 	22	 
		
	ARTICLE IV	  			
		
	 COVENANTS
	  	 	22	 
			
	 SECTION 4.01
	  	 Payment of Securities
	  	 	22	 
			
	 SECTION 4.02
	  	 Maintenance of Office or Agency
	  	 	23	 
			
	 SECTION 4.03
	  	 Reports
	  	 	23	 
			
	 SECTION 4.04
	  	 Compliance Certificate
	  	 	24	 
			
	 SECTION 4.05
	  	 Waiver of Stay, Extension and Usury Laws
	  	 	24	 
			
	 SECTION 4.06
	  	 Secured Indebtedness
	  	 	24	 
			
	 SECTION 4.07
	  	 Corporate Existence
	  	 	24	 
			
	 SECTION 4.08
	  	 Taxes
	  	 	24	 
		
	ARTICLE V	  			
		
	 SUCCESSORS
	  	 	25	 
			
	 SECTION 5.01
	  	 Merger, Consolidation, or Sale of Assets
	  	 	25	 
			
	 SECTION 5.02
	  	 Successor Corporation Substituted
	  	 	25	 
		
	ARTICLE VI	  			
		
	 DEFAULTS AND REMEDIES
	  	 	26	 
			
	 SECTION 6.01
	  	 Events of Default
	  	 	26	 
			
	 SECTION 6.02
	  	 Acceleration
	  	 	26	 
			
	 SECTION 6.03
	  	 Other Remedies
	  	 	27	 
			
	 SECTION 6.04
	  	 Waiver of Past Defaults
	  	 	27	 
			
	 SECTION 6.05
	  	 Control by Majority
	  	 	27	 

  
 ii 

							
			
	 SECTION 6.06
	  	 Limitation on Suits
	  	 	28	 
			
	 SECTION 6.07
	  	 Rights of Holders of Securities to Receive Payment
	  	 	28	 
			
	 SECTION 6.08
	  	 Collection Suit by Trustee
	  	 	28	 
			
	 SECTION 6.09
	  	 Trustee May File Proofs of Claim
	  	 	28	 
			
	 SECTION 6.10
	  	 Priorities
	  	 	29	 
			
	 SECTION 6.11
	  	 Undertaking for Costs
	  	 	29	 
		
	ARTICLE VII	  			
		
	 TRUSTEE
	  	 	29	 
			
	 SECTION 7.01
	  	 Duties of Trustee
	  	 	29	 
			
	 SECTION 7.02
	  	 Rights of Trustee
	  	 	30	 
			
	 SECTION 7.03
	  	 Individual Rights of Trustee
	  	 	31	 
			
	 SECTION 7.04
	  	 Trustee’s Disclaimer
	  	 	31	 
			
	 SECTION 7.05
	  	 Notice of Defaults
	  	 	31	 
			
	 SECTION 7.06
	  	 Reports by Trustee to Holders of the Securities
	  	 	32	 
			
	 SECTION 7.07
	  	 Compensation and Indemnity
	  	 	32	 
			
	 SECTION 7.08
	  	 Replacement of Trustee
	  	 	33	 
			
	 SECTION 7.09
	  	 Successor Trustee by Merger, Etc.
	  	 	33	 
			
	 SECTION 7.10
	  	 Eligibility; Disqualification
	  	 	33	 
			
	 SECTION 7.11
	  	 Preferential Collection of Claims Against Company
	  	 	34	 
		
	ARTICLE VIII	  			
		
	 SATISFACTION AND DISCHARGE; DEFEASANCE
	  	 	34	 
			
	 SECTION 8.01
	  	 Satisfaction and Discharge of Indenture
	  	 	34	 
			
	 SECTION 8.02
	  	 Application of Trust Money
	  	 	35	 
			
	 SECTION 8.03
	  	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	35	 
			
	 SECTION 8.04
	  	 Legal Defeasance and Discharge
	  	 	35	 
			
	 SECTION 8.05
	  	 Covenant Defeasance
	  	 	36	 
			
	 SECTION 8.06
	  	 Conditions to Legal or Covenant Defeasance
	  	 	36	 

  
 iii 

							
			
	 SECTION 8.07
	  	 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous
Provisions
	  	 	37	 
			
	 SECTION 8.08
	  	 Repayment to Company
	  	 	37	 
			
	 SECTION 8.09
	  	 Reinstatement
	  	 	38	 
		
	ARTICLE IX	  			
		
	 AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	38	 
			
	 SECTION 9.01
	  	 Without Consent of Holders of Securities
	  	 	38	 
			
	 SECTION 9.02
	  	 With Consent of Holders of Securities
	  	 	39	 
			
	 SECTION 9.03
	  	 Compliance with Trust Indenture Act
	  	 	40	 
			
	 SECTION 9.04
	  	 Revocation and Effect of Consents
	  	 	40	 
			
	 SECTION 9.05
	  	 Notation on or Exchange of Securities
	  	 	40	 
			
	 SECTION 9.06
	  	 Trustee to Sign Amendments, Etc.
	  	 	41	 
		
	ARTICLE X	  			
		
	 MISCELLANEOUS
	  	 	41	 
			
	 SECTION 10.01
	  	 Trust Indenture Act Controls
	  	 	41	 
			
	 SECTION 10.02
	  	 Notices
	  	 	41	 
			
	 SECTION 10.03
	  	 Communication by Holders of Securities with Other Holders of Securities
	  	 	42	 
			
	 SECTION 10.04
	  	 Certificate and Opinion as to Conditions Precedent
	  	 	42	 
			
	 SECTION 10.05
	  	 Statements Required in Certificate or Opinion
	  	 	42	 
			
	 SECTION 10.06
	  	 Rules by Trustee and Agents
	  	 	43	 
			
	 SECTION 10.07
	  	 No Personal Liability of Directors, Officers, Employees, Managers, Incorporators, Members,
Partners and Stockholders
	  	 	43	 
			
	 SECTION 10.08
	  	 Governing Law
	  	 	43	 
			
	 SECTION 10.09
	  	 No Adverse Interpretation of Other Agreements
	  	 	43	 
			
	 SECTION 10.10
	  	 Successors
	  	 	43	 
			
	 SECTION 10.11
	  	 Severability
	  	 	43	 
			
	 SECTION 10.12
	  	 Counterpart Originals
	  	 	43	 
			
	 SECTION 10.13
	  	 Table of Contents, Headings, Etc.
	  	 	43	 
			
	 EXHIBIT A
	  	 Form of Security
	  			

  
 iv 

 CROSS-REFERENCE TABLE 

 

			
	 Trust Indenture Act Section
	  	Indenture
Section
	 310(a)(1)
	  	7.10
	 (a)(2)
	  	7.10
	 (a)(3)
	  	N.A.
	 (a)(4)
	  	N.A.
	 (a)(5)
	  	7.10
	 (b)
	  	7.10
	 (c)
	  	N.A.
	 311(a)
	  	7.11
	 (b)
	  	7.11
	 (c)
	  	N.A.
	 312(a)
	  	2.07
	 (b)
	  	10.03
	 (c)
	  	10.03
	 313(a)
	  	7.06
	 (b)(2)
	  	7.06, 7.07
	 (c)
	  	7.06
	 (d)
	  	7.06
	 314(a)
	  	4.03
	 (a)(4)
	  	10.04
	 (c)(1)
	  	N.A.
	 (c)(2)
	  	N.A.
	 (c)(3)
	  	N.A.
	 (e)
	  	N.A
	 (f)
	  	N.A.
	 315(a)
	  	7.01
	 (b)
	  	7.05
	 (c)
	  	7.01
	 (d)
	  	7.01
	 (e)
	  	6.11
	 316(a)(last sentence)
	  	2.10
	 (a)(1)(A)
	  	6.05
	 (a)(1)(B)
	  	6.04
	 (a)(2)
	  	N.A.
	 (b)
	  	6.07
	 (c)
	  	2.13
	 317(a)(1)
	  	6.09
	 (a)(2)
	  	6.09
	 (b)
	  	2.05
	 318(a)
	  	10.01
	 (b)
	  	10.01
	 (c)
	  	10.01
	 N.A. means not applicable.
	  	

 This Cross-Reference Table shall not, for any purpose, be deemed to be part of this Indenture. 

  
 v 

 INDENTURE dated as of December 21, 2017, by and between Andeavor, a Delaware corporation
(the “Company”) and U.S. Bank National Association, as trustee (the “Trustee”). 
 RECITALS OF THE COMPANY

 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its
unsecured debentures, notes or other evidences of indebtedness (herein called the “Securities”) to be issued in one or more series as in this Indenture provided. 

All things necessary to make this Indenture a valid agreement of the Company in accordance with its terms, have been done. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof the Company and the Trustee agree as
follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Securities or of any series thereof, as follows: 

ARTICLE I 
 DEFINITIONS AND
INCORPORATION BY REFERENCE 
 SECTION 1.01    Definitions. 

“Acquired Debt” means, with respect to any specified Person: 

(i) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary of such
specified Person, including, without limitation, Indebtedness incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Restricted Subsidiary of such specified Person; and 

(ii) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person, but excluding, in any event, Indebtedness that is
extinguished, retired or repaid in connection with such Person merging with or becoming a Restricted Subsidiary of such specified Person. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 

“Agent” means any Registrar, Paying Agent or authenticating agent. 

“Applicable Procedures” of a Depositary means, with respect to any matter at any time, the policies and procedures of such
Depositary, if any, that are applicable to such matter at such time. 
 “Bankruptcy Code” means Title 11, U.S. Code, as
amended, or any similar federal or state law for the relief of debtors. 
 “Board of Directors” means the Board of
Directors of the Company or any committee thereof duly authorized to act on behalf of such Board. 

 “Board Resolution” when used with reference to the Company means a copy of a
resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by its Board of Directors (or a duly authorized committee thereof) and to be in full force and effect on the date of such certification, and
delivered to the Trustee. 
 “Borrowing Base” means, as of any date, an amount equal to: 

(i) 90% of the face amount of all accounts receivable owned by the Company and its Subsidiaries as of the end of the most recent fiscal
quarter preceding such date that were not more than 90 days past due; plus 
 (ii) 85% of the book value (before any reduction from current
cost to “last in first out” cost) of all inventory owned by the Company and its Subsidiaries as of the end of the most recent fiscal quarter preceding such date; plus 

(iii) 100% of the cash and Cash Equivalents owned by the Company and its Subsidiaries as of the end of the most recent fiscal quarter
preceding such date. 
 “Business Day” means any Monday, Tuesday, Wednesday, Thursday or Friday that is not a day on which
banking institutions in New York, New York are authorized or obligated by law or executive order to close. If a payment date is not a Business Day at a place of payment, payment may be made at that place on the next succeeding day that is a Business
Day, and no interest shall accrue for the intervening period. 
 “Capital Lease Obligations” means an obligation that is
required to be classified and accounted for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be, at the time any determination thereof is to be made, the
amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount
due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty; provided that any obligations of the Company or its Restricted Subsidiaries, or of a special purpose or other entity
not consolidated with the Company and its Restricted Subsidiaries (i) that were not or would not have been included on the consolidated balance sheet of the Company as capital lease obligations on the Issue Date and (ii) that are
subsequently recharacterized as lease obligations or, in the case of such a special purpose or other entity becoming consolidated with the Company and its Restricted Subsidiaries, due to a change in accounting treatment or otherwise after the Issue
Date, may, in the Company’s sole discretion, be deemed not to be treated as Capital Lease Obligations or Indebtedness. 

“Capital Stock” means (i) in the case of a corporation, corporate stock, (ii) in the case of an association or
business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock, (iii) in the case of a partnership or limited liability company, partnership interests (whether general or
limited) or membership interests and (iv) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the
foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock. 

“Cash Equivalents” means (i) United States dollars, Canadian dollars and the Euro; (ii) securities issued or
directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof having maturities of not more than one year from the date of acquisition; (iii) certificates of deposit, time deposits and
Eurodollar time deposits with maturities of not more than one year from the date of acquisition, bankers’ acceptances with maturities of not more than one year from the date of acquisition and overnight bank deposits, in each case, with any
domestic commercial bank having capital and surplus in excess of $500.0 million and $100.0 million (or the U.S. dollar equivalent as of the date of determination) in the case of non-U.S. banks;
(iv) repurchase obligations for underlying securities of the types described in clauses (ii) and (iii) above entered into with any financial institution meeting the qualifications specified in clause (iii) above; (v) commercial paper
rated at least P-1 by Moody’s or at least 

  
 2 

 
A-1 by S&P with maturities of not more than one year from the date of acquisition; (vi) marketable short-term money market and similar securities
having a rating of at least P-2 or A-2 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such
obligations, an equivalent rating from another Rating Agency) and in each case with maturities of not more than two years from the date of acquisition; (vii) investment funds investing 95% of their assets in securities of the types described in
clauses (i) through (vi) above and (viii) through (x) below; (viii) readily marketable direct obligations issued by any state, commonwealth or territory of the United States or any political subdivision or taxing authority thereof
having an Investment Grade Rating from either Moody’s or S&P with maturities of not more than two years from the date of acquisition; (ix) Indebtedness or preferred stock issued by Persons with a rating of “A” or higher from
S&P or “A2” or higher from Moody’s with maturities of one year or less from the date of acquisition; and (x) investments with average maturities of 12 months or less from the date of acquisition in money market funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s. Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies
other than those set forth in clause (i) above, provided that such amounts are converted into any currency listed in clause (i) as promptly as practicable and in any event within ten Business Days following the receipt of such
amounts. 
 “Credit Facilities” means, with respect to the Company or any of its Restricted Subsidiaries, one or more debt
facilities (including, without limitation, the Senior Credit Facilities) or other financing arrangements with respect to any obligations in respect of Indebtedness, including, without limitation, commercial paper facilities, indentures or Debt
Issuances with banks, investment banks, insurance companies, mutual funds, other institutional lenders, institutional investors or any of the foregoing providing for revolving credit loans, term loans, receivables financing (including through the
sale of receivables to such lenders, other financiers or to special purpose entities formed to borrow from (or sell such receivables to) such lenders or other financiers against such receivables), letters of credit, bankers’ acceptances, other
borrowings or Debt Issuances, in each case, as amended, restated, modified, renewed, extended, refunded, replaced or refinanced (in each case, without limitation as to amount), in whole or in part, from time to time (including through one or more
Debt Issuances) and any agreements and related documents governing Indebtedness or Obligations incurred to refinance amounts then outstanding or permitted to be outstanding, whether or not with the original administrative agent, lenders, investment
banks, insurance companies, mutual funds, other institutional lenders, institutional investors or any of the foregoing and whether provided under the original agreement, indenture or other documentation relating thereto. 

“Commodity Hedging Agreements” means agreements or arrangements designed to protect such Person against fluctuations in the
price of (i) crude oil, natural gas, or other hydrocarbons, including refined hydrocarbon products; (ii) electricity and other sources of energy or power used in the Company’s refining or processing operations; or (iii) any other
commodity; in each case, in connection with the conduct of its business and not for speculative purposes. 
 “Commodity Hedging
Obligations” means, with respect to any Person, the net payment Obligations of such Person under Commodity Hedging Agreements. 

“Company” means the Person named as the “Company” in the introductory paragraph of this Indenture until a successor
Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter, the term “Company” shall mean such successor Person and each successive successor Person. 

“Company Request” means a written request signed in the name of the Company by the Board of Directors or an Officer and
delivered to the Trustee. 
 “Consolidated Net Tangible Assets” means, with respect to any Person at any date of
determination, the aggregate amount of total assets included in such Person’s balance sheet for the most recent fiscal quarter for which internal financial statements are available, less (a) all current liabilities reflected in such
balance sheet, and (b) all goodwill, trademarks, patents, unamortized debt discounts and expenses and other like intangibles reflected in such balance sheet, in each case, giving pro forma effect to

  
 3 

 
(i) any incurrence, guarantee, repayment, repurchase, redemption, defeasance or discharge of any Indebtedness (other than revolving borrowings under any credit facility), or issuance, repurchase
or redemption of Disqualified Equity and the use of proceeds therefrom and (2) acquisitions that have been made by the specified Person or any of its Subsidiaries, including through mergers, asset purchase transactions or consolidations and
including any related financing transactions. 
 “Corporate Trust Office of the Trustee” shall be at the address of the
Trustee specified in Section 10.02 hereof or such other address as to which the Trustee may give notice to the Company. 

“Currency Exchange Protection Obligations” mean, in respect of a Person, any foreign exchange contract, currency swap
agreement, currency option or other similar agreement or arrangement designed to protect such Person against fluctuations in currency exchange rates. 

“Custodian” means any receiver, trustee, assignee, liquidator, sequester or similar official under the Bankruptcy Code. 

“Debt Issuances” means, with respect to the Company or any Restricted Subsidiary, one or more issuances after the Issue Date
of Indebtedness evidenced by notes, debentures, bonds or other similar securities or instruments. 
 “Default” means any
event that is or with the passage of time or the giving of notice (or both) would be an Event of Default. 
 “Depositary”
means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global Securities, any Person that is designated to act as Depositary for such Securities as contemplated by
Section 2.03. 
 “Disqualified Equity” means, with respect to any person, any Equity Interest
that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case, at the option of the holder of the Equity Interest), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder of the Equity Interest, in whole or in part, on or prior to the date that is 91 days after the date on which any outstanding series of
Securities mature, except such Equity Interest that is solely redeemable with, or solely exchangeable for, any Equity Interest of such Person that is not Disqualified Equity. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock). 
 “ERISA” means the Employee Retirement
Income Security Act of 1974, as amended from time to time, and any successor thereto. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 “Fair Market Value” means, with respect to consideration received or to be
received, or given or to be given, pursuant to any transaction by the Company or any Restricted Subsidiary, the fair market value of such consideration as determined in good faith by the Board of Directors of the Company, whose determination shall
be conclusive. 
 “Financial Hedging Agreements” means (i) interest rate swap agreements, interest rate cap agreements
and interest rate collar agreements and (ii) other agreements or arrangements designed to protect such Person against fluctuations in interest rates, currency exchange rates or commodity prices and not for speculative purposes. 

“Financial Hedging Obligations” means, with respect to any Person, the net payment Obligations of such Person under Financial
Hedging Agreements. 

  
 4 

 “GAAP” means generally accepted accounting principles set forth in the opinions
and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have
been approved by a significant segment of the accounting profession, which are in effect from time to time. 
 “Global
Securities” means, individually and collectively, each of the Securities issued or issuable in the global form of Exhibit A hereto issued in accordance with Sections 2.01 and 2.07. 

“Government Securities” means securities that are: (1) direct obligations of the U.S. for the timely payment of which
its full faith and credit is pledged; or (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the U.S. the timely payment of which is unconditionally guaranteed as a full faith and credit
obligation by the U.S., which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian
with respect to any such Government Securities or a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the holder of such depository receipt; provided that (except as
required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Securities or the specific payment of
principal of or interest on the Government Securities evidenced by such depository receipt. 
 “Hedging Obligations” means,
with respect to any Person, collectively, the Commodity Hedging Obligations of such Person, the Currency Exchange Protection Obligations of such Person and the Financial Hedging Obligations of such Person. 

“Holder” means a Person in whose name a Security is registered. 

“Indebtedness” means, with respect to any Person, without duplication, (1) the principal of and premium, if any, with
respect to indebtedness of such Person for borrowed money or evidenced by bonds, notes, debentures or similar instruments; (2) reimbursement obligations of such Person for letters of credit or banker’s acceptances; (3) Capital Lease
Obligations of such Person; (4) obligations of such Person for the payment of the balance deferred and unpaid of the purchase price of any property except any such balance that constitutes (a) an accrued expense, (b) a trade payable
or (c) an earn-out obligation until, after 30 days of becoming due and payable, such earn-out obligation has not been paid and becomes a liability on the balance
sheet of such Person in accordance with GAAP; (5) Hedging Obligations (the amount of which at any time of determination shall be equal to the termination value of such agreement or arrangement giving rise to such Hedging Obligation that would
be payable at such time); or (6) preferred stock of a Subsidiary (but excluding any accrued dividends). In the case of the foregoing clauses (1) through (5), if and to the extent any of the foregoing obligations or indebtedness (other than
letters of credit, banker’s acceptances and Hedging Obligations), but excluding amounts recorded in accordance with Accounting Standards Codification No. 815, would appear as a liability upon a balance sheet of such Person prepared in
accordance with GAAP. In the case of clause (6), the amount of Indebtedness attributable to such preferred stock shall be the repurchase price calculated in accordance with the terms of such preferred stock as if the preferred stock were repurchased
on the date on which Indebtedness is required to be determined pursuant to this Indenture; provided that if the preferred stock is not then permitted to be repurchased, the amount of Indebtedness shall be the greater of the liquidation
preference and the book value of the preferred stock. In addition, the term “Indebtedness” includes, without duplication, to the extent not otherwise included, the guarantee by such Person of any obligations or indebtedness of others of
the type referred to in the foregoing clauses (1) through (6), whether or not such guarantee is contingent, and whether or not such guarantee appears on the balance sheet of such Person. 

“Indenture” means this Indenture, as amended or supplemented from time to time. 

“Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of an installment of interest on
such Security. 

  
 5 

 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s or BBB- (or the equivalent) by S&P, in each case, regardless of ratings watch. 

“Issue Date”, when used with respect to any Security, means the date of issuance of such Security. 

“Lien” means any mortgage, pledge, security interest or other lien or encumbrance. 

“Moody’s” means Moody’s Investors Service, Inc., or any successor to the rating agency business thereof. 

“Obligations” means any principal, premium (if any), interest and interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Company or its Restricted Subsidiaries whether or not a claim for post-filing interest is allowed in such proceeding), penalties, fees, charges, expenses, indemnifications, reimbursement obligations,
damages, guarantees and other liabilities or amounts payable under the documentation governing any Indebtedness or in respect thereof. 

“Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such Person. 

“Officer’s Certificate” means a certificate signed on behalf of the Company by one Officer of the Company, who must be
the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company, that meets the requirements of Section 10.05 hereof. 

“Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the Trustee, that meets the
requirements of Section 10.05 hereof. The counsel may be an employee of or counsel to the Company, any Subsidiary of the Company or the Trustee. 

“Permitted Business” means, with respect to the Company and its Subsidiaries, the businesses of (i) the acquisition,
development, operation and disposition of interests in oil, gas and other hydrocarbon properties, (ii) the acquisition, gathering, treating, processing, storage and transportation of production from such interests or properties and related
logistics activities, (iii) the acquisition, processing, marketing, refining, distilling, storage and/or transportation of hydrocarbons and/or royalty or other interests in crude oil or refined or associated products related thereto,
(iv) the acquisition, operation, improvement, leasing and other use of convenience stores, retail service stations, truck stops and other public accommodations in connection therewith, (v) the marketing and distribution of petroleum and
marine products and the provision of logistical services to marine and offshore exploration and production industries, (vi) any business engaged in by the Company or its Subsidiaries on the Issue Date, (vii) any other business that
generates gross income at least 90% of which constitutes “qualifying income” under Section 7704 (d) of the Internal Revenue Code of 1986, as amended; and (viii) any activity or business that is a reasonable extension, development
or expansion of, or reasonably related to, any of the foregoing. 
 “Permitted Liens” means: 

(1) Liens securing Indebtedness incurred under any Credit Facilities and all Obligations and Hedging Obligations relating to such Indebtedness;
provided that the aggregate amount of such Indebtedness at any time outstanding that is secured by Liens on any property or asset of the Company or any Restricted Subsidiary does not exceed the greatest of (i) $3.5 billion, (ii) the amount
of the Borrowing Base at the time of incurrence and (iii) 15% of Consolidated Net Tangible Assets; 
 (2) Liens other than Liens permitted
by clause (1) of this definition of “Permitted Liens” granted in favor of the Company; 

  
 6 

 (3) Liens to secure Indebtedness (including Capital Lease Obligations, Synthetic Lease
Obligations, mortgage financings or purchase money obligations (including Acquired Debt)), in each case, incurred in connection with the purchase of, or for the purpose of financing the purchase of, the cost of construction, improvement or
development of, property, plant or equipment used or useful in the business (including, without limitation, oil and gas properties) of the Company or a Restricted Subsidiary of the Company or incurred to extend, refinance, renew, replace, defease or
refund any such purchase price or cost of construction, improvement or development, provided that any such Liens cover only the assets acquired, constructed, improved or developed with, or secured by, such Indebtedness; 

(4) Liens existing on the Issue Date (other than Liens described in clause (1) above); 

(5) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in good faith by
appropriate proceedings diligently pursued, provided that any reserve or other appropriate provision as is required in conformity with GAAP has been made therefor; 

(6) Liens on the Retail Properties; 

(7) carriers’, warehousemen’s, mechanics’, materialmen’s, landlord’s, repairman’s or other like Liens arising in
the ordinary course of business; 
 (8) pledges or deposits in connection with workers’ compensation, unemployment insurance, statutory
obligations and other types of social security; 
 (9) deposits to secure the performance of bids, trade contracts (other than for borrowed
money), reimbursement obligations owed to insurers, leases, surety and appeal bonds, bids, performance bonds and other obligations of a like nature incurred in the ordinary course of business (including Liens to secure letters of credit issued to
assure payment of such obligations); 
 (10) easements, rights of way, survey exceptions, reservations of, or rights of others for,
licenses, sewers, electric lines, pipelines, telegraph and telephone lines, removal of oil, gas or other minerals and other similar purposes, or zoning or other restrictions and other similar encumbrances incurred in the ordinary course of business
that, in the aggregate, do not materially interfere with the ordinary conduct of the business of the Company or any of its Subsidiaries; 

(11) any interest or title of a lessor under any lease entered into by the Company or any of its Subsidiaries in the ordinary course of its
business and covering only the assets so leased; 
 (12) any Lien securing Indebtedness, neither assumed nor guaranteed by the Company or
any of its Subsidiaries nor on which it customarily pays interest, existing upon real estate or rights in or relating to real estate acquired by the Company for substation, metering station, pump station, storage, gathering line, transmission line,
transportation line, distribution line or for right-of-way purposes, any Liens reserved in leases for rent and for compliance with the terms of the leases in the case of
leasehold estates, to the extent that any such Lien referred to in this clause (13) does not materially impair the use of the property covered by such Lien for the purposes of which such property is held by the Company or any of its
Subsidiaries; 
 (13) inchoate Liens arising under ERISA; 

(14) any obligations or duties affecting any of the property of the Company or its Subsidiaries to any municipality or public authority with
respect to any franchise, grant, license or permit which do not materially impair the use of such property for the purposes for which it is held; 

(15) defects, irregularities and deficiencies in title of any rights of way or other property of the Company or any of its Subsidiaries which,
in the aggregate, do not materially impair the use of such rights of way or other property for the purposes for which such rights of way and other property are held by the Company or any of its Subsidiaries and defects, irregularities and
deficiencies in title to any property of the Company or any of its Subsidiaries, which defects, irregularities or deficiencies have been cured by possession under applicable statutes of limitation; 

  
 7 

 (16) Liens in favor of collecting or payor banks having a right of setoff, revocation, refund or
chargeback with respect to money or instruments of the Company or any of its Subsidiaries on deposit with or in possession of such bank; 

(17) Liens to secure obligations of the Company and its Subsidiaries in respect of Commodity Hedging Agreements and Financial Hedging
Agreements, in each case not entered into for speculative purposes, and Liens with respect to hedging accounts maintained with dealers of NYMEX or similar contracts which require the maintenance of cash margin account balances; 

(18) Liens on property of a Person existing at the time (a) such Person is merged with or into or consolidated with the Company or any
Restricted Subsidiary, (b) such Person becomes a Restricted Subsidiary or (c) such property is otherwise acquired by the Company or a Restricted Subsidiary; provided that such Liens were in existence prior to the contemplation of
such merger, consolidation or other acquisition and do not extend to any assets other than those of the Person merged into or consolidated with the Company or the Restricted Subsidiary in the case of a merger or consolidation pursuant to clause
(a) or such property in the case of such other acquisition in the case of clause (b) or (c); 
 (19) Liens to secure any
extension, renewal, replacement or refinancing of Indebtedness secured by a Lien permitted by any of the foregoing clauses (1), (4), (12), (18) and (23); provided that (a) the new Lien shall be limited to all or part of the same property
and assets that secured or, under the written agreements pursuant to which the original Lien arose, could secure the original Lien (plus improvements and accessions to, such property or proceeds or distributions thereof), (b) the Indebtedness
secured by the new Lien is not increased to any amount greater than the sum of (x) the outstanding principal amount, or, if greater, the committed amount, of the Indebtedness being extended, renewed, replaced or refinanced and (y) an
amount necessary to pay accrued interest on such Indebtedness and any fees and expenses, including premiums, related to such renewal, refunding, refinancing, replacement, defeasance or discharge and (c) in the case of any Liens to secure any
extension, renewal, replacement or refinancing of Indebtedness secured by a Lien permitted by any of the foregoing clauses (1) and (23), the principal amount of any Indebtedness incurred for such extension, renewal, replacement or refinancing
shall be deemed secured by a Lien under clauses (1) or (23) (as applicable) and not this clause (19) for purposes of determining the principal amount of Indebtedness outstanding under clauses (1) and (23); 

(20) Liens upon specific items of inventory, accounts receivables or other goods and proceeds of the Company or any Restricted Subsidiary
securing such Person’s obligations in respect of banker’s acceptances or receivables securitizations issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory, accounts receivables
or other goods and proceeds; 
 (21) any Lien resulting from the deposit of money or other Cash Equivalents or other evidence of
indebtedness in trust for the purpose of defeasing Indebtedness of the Company or any Restricted Subsidiary; 
 (22) any Liens securing
industrial development, pollution control or similar bonds; 
 (23) Liens incurred by the Company or any Subsidiary of the Company with
respect to obligations that at any one time outstanding do not exceed the greater of (a) $175.0 million or (b) 2.5% of Consolidated Net Tangible Assets of the Company; 

(24) Liens arising by reason of deposits necessary to obtain standby letters of credit in the ordinary course of business; and 

(25) Liens relating to future escrow arrangements securing Indebtedness. 

“Person” means any individual, corporation, partnership, joint venture, association, joint stock company, trust, limited
liability company, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

  
 8 

 “preferred stock” means any Capital Stock of a Person, however designated, which
entitles the holder thereof to a preference with respect to dividends, distributions or liquidation proceeds of such Person over the holders of the other Capital Stock issued by such Person. 

“Principal Property” means any refinery and any related core refining asset having a Fair Market Value in excess of the
greater of (a) $250.0 million and (b) 2.5% of Consolidated Net Tangible Assets (unless the Board of Directors determines that any such property is not material to the Company and its subsidiaries taken as a whole), owned by the Company or any
of its Restricted Subsidiaries. 
 “Rating Agency” means each of S&P and Moody’s, or if S&P or Moody’s or
both shall not make a rating on a series of notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company (as certified by a resolution of the Board of Directors) which shall be
substituted for S&P or Moody’s, or both, as the case may be. 
 “Responsible Officer,” when used with respect to
the Trustee, means any officer, including, without limitation, any vice president, assistant vice president, assistant treasurer or secretary within the Corporate Trust Administration of the Trustee (or any successor group of the Trustee) or any
other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to particular corporate trust matter, any other officer or employee to whom such matter is
referred because of his knowledge of and familiarity with the particular subject. 
 “Restricted Subsidiary” means any
Subsidiary that owns Principal Property; provided that Andeavor Logistics LP, Tesoro Logistics GP, LLC and each of their respective subsidiaries, shall not be Restricted Subsidiaries. 

“Retail Properties” means all assets directly related to the retail sale of gasoline and diesel fuel in retail markets in the
United States, including, without limitation, all related gas stations, convenience stores, merchandise items, tow trucks, auto maintenance facilities, oil change facilities, and car washes; provided that such assets shall not include any
assets relating to the sale of petroleum products in bulk and wholesale markets. 
 “S&P” means Standard &
Poor’s Ratings Group, Inc., or any successor to the rating agency business thereof. 
 “SEC” means the Securities and
Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Senior Revolving Credit Facility” means that certain Credit
Agreement, dated as of September 30, 2016, as amended and restated on December 13, 2016, and as may be further amended, supplemented, amended and restated, replaced, or refinanced from time to time, among the Company, JPMorgan Chase Bank,
N.A., as Administrative Agent, and the financial institutions from time to time party thereto, and including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith. 

“Senior Credit Facilities” means the Senior Revolving Credit Facility and Senior Term Loan Credit Facility and any agreements
and related documents governing Indebtedness or Obligations incurred to refinance amounts then outstanding or permitted to be outstanding, whether or not with the original administrative agent, lenders, investment banks, insurance companies, mutual
funds, other institutional lenders, institutional investors or any of the foregoing and whether provided under the original agreement or other documentation relating thereto. 

  
 9 

 “Senior Term Loan Credit Facility” means any senior term loan credit facility,
as amended, supplemented, amended and restated, replaced, or refinanced from time to time, among the Company and the financial institutions from time to time party thereto, and including any related notes, guarantees, collateral documents,
instruments and agreements executed in connection therewith. 
 “Stated Maturity” means, with respect to any installment of
interest or principal, or sinking fund or mandatory redemption of principal, on any series of Indebtedness, the date on which such payment of interest or principal was scheduled to be paid or made, as applicable, in the original documentation
governing such Indebtedness, and shall not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 

“Subsidiary” means, with respect to any Person, (i) any corporation, association or other business entity of which more
than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or
indirectly, by such Person and (ii) any partnership (a) the sole general partner or the managing general partner of which is such Person or an entity described in clause (i) and related to such Person or (b) the only general
partners of which are such Person or of one or more entities described in clause (i) and related to such Person (or any combination thereof). 

“Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback
transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally to such
Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 
 “TIA” means
the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date on which this Indenture is qualified under the TIA and thereafter as in effect from time to time. 

“Trustee” means the party named as such in the preamble of this Indenture until a successor replaces it in accordance with
the applicable provisions of this Indenture and thereafter means the successor serving hereunder. 
 “U.S.” means the
United States of America. 
 SECTION 1.02    Other Definitions. 

 

			
	 Term
	  	Defined
in Section
	 “Covenant Defeasance”
	  	8.05
	 “Event of Default”
	  	6.01
	 “Legal Defeasance”
	  	8.04
	 “Paying Agent”
	  	4.02
	 “Payment Default”
	  	6.01
	 “Registrar”
	  	4.02
	 “Securities Register”
	  	4.02

 SECTION 1.03    Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. 

The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Securities; 

  
 10 

 “indenture security Holder” means a Holder of a Security; 

“indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the Securities means the Company and any successor obligor upon the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA have the meanings so assigned to them. 
 SECTION 1.04    Rules of Construction. 

Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive, and “including” means “including without limitation,” “including
but not limited to” or words of similar import; 
 (4) the word “will” shall be construed to have the same
meaning and effect as the word “shall”; 
 (5) words in the singular include the plural, and in the plural include
the singular; 
 (6) provisions apply to successive events and transactions; 

(7) references to sections of or rules under the Securities Act shall be deemed to include substitute, replacement of successor
sections or rules adopted by the SEC from time to time; 
 (8) references to “Sections,” “clauses,”
“Articles,” “Exhibits” and “Schedules” shall be to Sections, clauses, Articles, Exhibits and Schedules, respectively, of this Indenture unless otherwise specifically provided; 

(9) the use in this Indenture of the words “herein,” “hereof and “hereunder,” and words of similar
import, shall be construed to refer to this Indenture in its entirety and not to any particular provision hereof; 
 (10) the
term “all or substantially all,” when applied to the assets of a Person and/or its Subsidiaries shall not be read to mean “any” of such assets as a result of such person and/or its Subsidiaries being in the “zone of
insolvency;” and 
 (11) this Indenture, the Securities and any documents or instruments delivered pursuant hereto shall
be construed without regard to the identity of the party who drafted the various provisions of the same. 
 Each and every
provision of this Indenture and instruments and documents entered into and delivered in connection therewith shall be construed as though the parties participated equally in the drafting of the same. Consequently, each of the parties acknowledges
and agrees that any rule of construction that a document is to be construed against the drafting party shall not be applicable either to this Indenture, the Securities and instruments and documents entered into and delivered in connection therewith.

  
 11 

 ARTICLE II 

THE SECURITIES 

SECTION 2.01    Form and Dating. 

The Securities of each series and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A
hereto, or in such other form as shall be established from time to time by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture or any indentures supplemental hereto, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements placed thereon as the Company may
deem appropriate and as are not inconsistent with the provisions of this instrument, or as may be required to comply with the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the Officers
executing such Securities, as evidenced by their execution thereof. Each Security shall be dated the date of its authentication. 
 The
Securities shall be issuable only in registered form without coupons and only in such denominations as shall be specified as contemplated by Section 2.03 In the absence of any such specified denomination with respect to the
Securities of any series, the Securities shall be issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The terms and provisions contained in the Securities shall constitute, and are hereby expressly made, a part of
this Indenture, and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Security conflicts with the express
provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

SECTION 2.02    Securities in Global Form 

If any Security of a series is issuable in global form, such Global Security may provide that it shall represent the aggregate amount of
outstanding Securities from time to time endorsed thereon and may also provide that the aggregate amount of outstanding Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Global Security to
reflect the amount, or any increase or decrease in the amount, of outstanding Securities represented thereby shall be made by the Trustee and in such manner as shall be specified in such Global Security. Global Securities may be issued in either
temporary or permanent form. Permanent Global Securities will be issued in definitive form. 
 Unless otherwise specified as contemplated by
Section 2.03 for the Securities evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE
THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 SECTION 2.03    Amount Unlimited;
Issuable in Series. 
 The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is
unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution of the
Company and, subject to Sections 2.01 and 2.04, set forth, or determined in the manner provided, in an Officer’s Certificate of the Company or established in one or more indentures supplemental hereto, prior to the issuance of
Securities of any series, 

  
 12 

 (1) the title of the Securities of the series (which shall distinguish the Securities of the
series from Securities of any other series); 
 (2) any limit upon the aggregate principal amount of the Securities of the series which may
be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to
Sections 2.07, 2.10 or 9.05 and except for any Securities which, pursuant to Section 2.04, are deemed never to have been authenticated and delivered hereunder); 

(3) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that Security (or one
or more predecessor Securities) is registered at the close of business on the record date for such interest; 
 (4) the date or dates on
which the principal and any premium of any Securities of the series is payable or the method of determination thereof; 
 (5) the rate or
rates (which may be fixed or variable), or the method of determination thereof, at which any Securities of the series shall bear interest, if any, including the rate of interest applicable on overdue payments of principal or interest, if different
from the rate of interest stated in the title of the Security, the date or dates from which any such interest shall accrue, or the method of determination thereof, the Interest Payment Date on which any such interest shall be payable and the record
date, if any, for any such interest payable on any Interest Payment Date and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30 day months; 

(6) the place or places where the principal of and any premium and interest on any Securities of the series shall be payable and the manner in
which any payment may be made; 
 (7) the period or periods within which, the price or prices at which, the currency, currencies, currency
unit or composite currency in which and the terms and conditions upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by
the Company to redeem the Securities shall be evidenced; 
 (8) the obligation, if any, of the Company to redeem or purchase any Securities
of the series pursuant to any sinking fund or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which, the currency, currencies, currency unit or composite currency in which
and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

(9) if other than denominations of $2,000 and any integral multiple of $1,000 in excess thereof, the denominations in which any Securities of
the series shall be issuable; 
 (10) if the amount of principal of or any premium or interest on any Securities of the series may be
determined with reference to a financial or economic measure or pursuant to a formula, the manner in which such amounts shall be determined; 

(11) if other than the currency of the U.S, the currency, currencies, currency units or composite currency in which the principal of or any
premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the U.S. for any purpose, including for the purposes of making payment in the currency of the U.S.; 

  
 13 

 (12) if the principal of or any premium or interest on any Securities of the series is to be
payable, at the election of the Company or the Holder thereof, in one or more currencies, currency units or composite currencies other than that or those in which such Securities are stated to be payable, the currency, currency units or composite
currencies in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and the amount so
payable (or the manner in which such amount shall be determined); 
 (13) if other than the entire principal amount thereof, the portion of
the principal amount of any Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02 or, if applicable, the portion of the principal amount of
Securities of the series that is convertible in accordance with the provisions of this Indenture, or the method by which such portion shall be determined; 

(14) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more
dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable
upon any maturity other than the Stated Maturity or which shall be deemed to be outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined);

 (15) if the amount of payments of principal of or any premium or interest on any Securities of the series may be determined with
reference to an index, formula or other method (which index, formula or method may be based, without limitation, on one or more currencies, currency units, composite currencies, commodities, equity indices or other indices), the manner in which such
amounts shall be determined; 
 (16) provisions, if any, granting special rights to the Holders of Securities of the series upon the
occurrence of such events as may be specified; 
 (17) if applicable, that the Securities of the series, shall be subject to either or both
of Legal Defeasance or Covenant Defeasance as provided in ARTICLE VIII; 
 (18) if applicable, that any Securities of the series
shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Securities in
addition to or in lieu of that set forth in Exhibit A and any addition to, elimination of or other changes in the circumstances set forth in clause (2) of the last paragraph of Section 2.07 in which any such
Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a
nominee thereof; 
 (19) any addition to, elimination of or other change in the Events of Default which applies to any Securities of the
series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.02; 

(20) any addition to, elimination of or other change in the covenants set forth in ARTICLE IV or elsewhere herein which applies to
Securities of the series; and 
 (21) any other terms of the series (which terms shall not be inconsistent with the provisions of this
Indenture, except as permitted by Section 9.01(d)). 

  
 14 

 All Securities of any one series shall be substantially identical except as to denomination and
except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Sections 2.01 and 2.04) set forth, or determined in the manner provided, in the Officer’s Certificate referred to above
or in any such indenture supplemental hereto. All Securities of any one series need not be issued at one time and, unless otherwise provided or contemplated by this Section 2.03 with respect to a series of Securities,
additional Securities of a series may be issued at the option of the Company, without the consent of any Holder, at any time and from time to time. 

The Securities of all series shall rank on a parity in right of payment. 

If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate
record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth the terms of the series. 

SECTION 2.04    Execution and Authentication 

One Officer shall sign the Securities for the Company by manual or facsimile signature. If an Officer of the Company whose signature is on a
Security no longer holds that office at the time a Security is authenticated, the Security shall nevertheless be valid. A Security shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive
evidence that the Security has been authenticated under this Indenture. 
 At any time and from time to time after the execution and
delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Request for the authentication and delivery of such Securities, and the Trustee in
accordance with the Company Request shall authenticate and deliver such Securities. If any Securities shall be represented by a permanent Global Security, then, for purposes of this Section and Section 2.11, the notation of
a beneficial owner’s interest therein upon original issuance of such Security or upon exchange of a portion of a temporary Global Security shall be deemed to be delivered in connection with the original issuance of such beneficial owner’s
interest in such permanent Global Security. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by Section 2.03, in authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected in relying
upon, an Opinion of Counsel stating in effect that, 
 (1)    if the form of such Securities has been established by or
pursuant to Board Resolution as permitted by Section 2.03, that such form has been established in conformity with the provisions of this Indenture; 

(2)    if the terms of such Securities have been established by or pursuant to a Board Resolution, that such terms have
been established in conformity with the provisions of this Indenture; and 
 (3)    that such Securities, when
authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance
with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 

If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

Notwithstanding the provisions of Section 2.03 and of the preceding paragraph, if all Securities of a series are not
to be originally issued at one time, including where the size of an outstanding series of Securities is increased as contemplated in Section 2.03, it shall not be necessary to deliver the Officer’s

  
 15 

 
Certificate otherwise required pursuant to Section 2.03 or the Company Request or Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior
to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the
Company. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 2.12, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

SECTION 2.05    Paying Agent to Hold Money in Trust. 

The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, or premium or interest on the Securities, and shall notify the Trustee of any default by the Company in making any such payment. While any such
default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent
(if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or an Affiliate of the Company (including any Subsidiary) acts as Paying Agent, it shall segregate and hold in a separate trust fund for the
benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Securities. 

SECTION 2.06    Holder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of
all Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall provide to a Responsible Officer of the Trustee at least seven Business Days before each Interest Payment Date and at such other
times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders of Securities and the Company shall otherwise comply with TIA § 312(a). 

SECTION 2.07    Transfer and Exchange. 

Upon surrender for registration of transfer of any Security of a series at the office or agency of the Company in a place of payment for that
series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor and
aggregate principal amount. 
 At the option of the Holder, Securities of any series may be exchanged for other Securities of the same
series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute,
and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
 All
Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such
registration of transfer or exchange. 

  
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 Every Security presented or surrendered for registration of transfer or for exchange or
redemption shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed, by the Holder thereof or his attorney duly
authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Sections 2.10, 3.07 or
9.05 not involving any transfer. 
 If the Securities of any series (or of any series and specified tenor) are to be redeemed in
part, the Company shall not be required (A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days
before the day of the mailing of a notice of redemption of any such Securities selected for redemption under Section 3.03 and ending at the close of business on the day of such mailing, (B) to register the transfer of
or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part or (C) issue, register the transfer of or exchange any Security that has been surrendered for
repayment at the option of the Holder, except the portion, if any, of the Security that is not to be repaid. 
 The provisions of clauses
(1), (2), (3), (4) and (5) below shall apply only to Global Securities: 
 (1)    Each Global Security
authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security
shall constitute a single Security for all purposes of this Indenture. 
 (2)    Notwithstanding any other provision in
this Indenture, and subject to such applicable provisions, if any, as may be specified as contemplated by Section 2.03, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a
Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary has notified the Company that it is unwilling or unable or no
longer permitted under applicable law to continue as Depositary for such Global Security and the Company does not appoint another institution to act as Depositary within 90 days or (B) there shall have occurred and be continuing an Event of
Default with respect to such Global Security and a Holder of the series of Securities represented by such Global Security requests registered Securities or (C) there shall exist such circumstances, if any, in addition to or in lieu of the
foregoing as have been specified for this purpose as contemplated by Section 2.03. 

(3)    Subject to clause (2) above and to such applicable provisions, if any, as may be specified as contemplated by
Section 2.03, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as
the Depositary for such Global Security shall direct. 
 (4)    Every Security authenticated and delivered upon
registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section, Sections 2.08, 2.11, 3.07 or 9.05 or otherwise, shall be authenticated and
delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

(5)    Neither the Trustee nor any Agent shall have any responsibility or liability for any actions taken or not taken by
the Depositary. 

  
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 SECTION 2.08    Replacement Securities. 

If any mutilated Security is surrendered to the Trustee or the Company, or the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Security, the Company shall issue and the Trustee, upon the written order of the Company signed by one Officer of the Company, shall authenticate a replacement Security if the Trustee’s requirements are met. If
required by the Trustee or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee and any Agent from any loss that any of them may suffer if
a Security is replaced. The Company and the Trustee may charge for their respective expenses in replacing a Security. If, after the delivery of such replacement Security, a bona fide purchaser of the original Security in lieu of which such
replacement Security was issued presents for payment or registration such original Security, the Trustee shall be entitled to recover such replacement Security from the Person to whom it was delivered or any Person taking therefrom, except a bona
fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Company, the Trustee and any Agent in connection therewith. 

Subject to the provisions of the final sentence of the preceding paragraph of this Section 2.08, every replacement
Security is an additional obligation of the Company and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Securities duly issued hereunder. 

SECTION 2.09    Outstanding Securities. 

The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to
it for cancellation, those reductions in the interest in a Global Security effected by the Trustee in accordance with the provisions hereof, and those described in this Section as not outstanding. Except as set forth in
Section 2.10 hereof, a Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 

If a Security is replaced pursuant to Section 2.08 hereof, it ceases to be outstanding unless the Trustee receives
proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 
 If the principal amount of any Security is
considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. 
 If
the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Securities payable on that date, then on and after that date such Securities
shall be deemed to be no longer outstanding and shall cease to accrue interest. 
 SECTION 2.10    Treasury
Securities. 
 In determining whether the Holders of the required principal amount of Securities have concurred in any direction, waiver
or consent, Securities owned by the Company, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, shall be considered as though not outstanding, except that for the
purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notwithstanding the
foregoing, Securities that the Company, a Subsidiary of the Company or an Affiliate of the Company offers to purchase or acquires pursuant to an offer, exchange offer, tender offer or otherwise shall not be deemed to be owned by the Company, such
Subsidiary or such Affiliate until legal title to such Securities passes to the Company, such Subsidiary or such Affiliate, as the case may be. 

  
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 SECTION 2.11    Temporary Securities. 

Until definitive Securities of any series are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary
Securities upon a written order of the Company signed by one Officer of the Company. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary
Securities and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Securities in exchange for temporary Securities. 

Holders of temporary Securities shall be entitled to all of the benefits of this Indenture. 

SECTION 2.12    Cancellation. 

The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer, exchange, payment, replacement or cancellation and shall return such
canceled Securities to the Company. The Company may not issue new Securities to replace Securities that it has paid or that have been delivered to the Trustee for cancellation. 

SECTION 2.13    Defaulted Interest. 

If the Company defaults in a payment of interest on the Securities, it shall pay the defaulted interest in any lawful manner plus, to the
extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Securities and in Section 4.01 hereof. The Company
shall promptly notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Security and the date of the proposed payment. The Company shall fix or cause to be fixed each such special record date and payment date,
provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written request of the Company, the
Trustee in the name and at the expense of the Company) shall mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

SECTION 2.14    CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in notices of redemption or repurchase, as the case may be, as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed
on the Securities or as contained in any notice of a redemption or repurchase, as the case may be, and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption or repurchase, as the case
may be, shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the “CUSIP” numbers. 

ARTICLE III 
 REDEMPTION AND
PREPAYMENT 
 SECTION 3.01    Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 2.03 for such Securities) in accordance with this Article. 

  
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 SECTION 3.02    Election to Redeem; Notice to Trustee 

If a series of Securities is redeemable and the Company wants or is obligated to redeem all or part of the series of Securities pursuant to the
terms of such Securities, it shall notify the Trustee of the redemption date and the principal amount of the series of Securities to be redeemed. The election of the Company to redeem any Securities shall be evidenced by a Board Resolution or in
another manner specified as contemplated by Section 2.03 for such Securities. The Company shall give such notice at least 10 days but not greater than 60 days before the redemption date (or such shorter notice as may be acceptable to the
Trustee). 
 SECTION 3.03    Selection of Securities to be Redeemed. 

In case of any redemption at the election of the Company of less than all the Securities of any series (including any such redemption affecting
only a single Security), the Company shall, at least 10 days but not greater than 60 days prior to the redemption date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such redemption date,
of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided
in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction. 

If less than all of the Securities of any series are to be repurchased or redeemed at any time, selection of such Securities for repurchase or
redemption shall be made by the Trustee (1) in compliance with the requirements of the principal national securities exchange, if any, on which such Securities are listed, (2) on a pro rata basis to the extent practicable and in accordance
with the procedures of the Depositary or (3) by lot or in such other similar method in accordance with the procedures of the Depositary; provided that no Securities of $2,000 or less shall be repurchased or redeemed in part. In the event
of partial redemption by lot, the particular Securities to be redeemed shall be selected, unless otherwise provided herein, not less than 10 days, but except as set forth in Section 3.05, nor more than 60 days prior to the
redemption date by the Trustee from the outstanding Securities not previously called for redemption. 
 The Trustee shall promptly notify
the Company in writing of the Securities selected for redemption and, in the case of any Security selected for partial redemption, the principal amount thereof to be redeemed. Securities and portions of Securities selected shall be in amounts of
$1,000 or whole multiples of $1,000. Except as provided in the preceding sentence, provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. 

The provisions of the two preceding paragraphs of this Section 3.03 shall not apply with respect to any redemption
affecting only a Global Security, whether such Global Security is to be redeemed in whole or in part. In case of any such redemption in part, the unredeemed portion of the principal amount of the Global Security shall be in an authorized
denomination. 
 SECTION 3.04    Notice of Redemption. 

At least 10 days but not more than 60 days before a redemption date, the Company shall (x) deliver electronically, (y) mail or cause
to be mailed, by first class mail, postage prepaid, or (z) provide otherwise in accordance with the procedures of the Depositary, a notice of redemption to each Holder whose Securities are to be redeemed at its registered address, except that
(i) a notice of redemption may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with satisfaction and discharge of this Indenture or Legal Defeasance or Covenant Defeasance, in each case pursuant to
ARTICLE VIII hereof. 

  
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 The notice shall identify the Securities (including CUSIP numbers) to be redeemed and shall
state: 
 (a)    the redemption date; 

(b)    the redemption price; 

(c)    if any Security is being redeemed in part, the portion of the principal amount of such Security to be redeemed and
that, after the redemption date upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion shall be issued upon cancellation of the original Security; 

(d)    the name and address of the Paying Agent; 

(e)    that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(f)    that, unless the Company defaults in making such redemption payment, interest on Securities called for redemption
ceases to accrue on and after the redemption date; 
 (g)    the paragraph of the Securities and the Section of this
Indenture pursuant to which the Securities called for redemption are being redeemed; 
 (h)    that no representation is
made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Securities; and 

(i)    any condition precedent to which the redemption or notice of redemption is subject. 

If any of the Securities to be redeemed is in the form of a Global Security, then the Company shall modify such notice to the extent necessary
to accord with the Applicable Procedures of the Depositary applicable to such redemption. 
 For the avoidance of doubt, the notice of
redemption need not set forth the redemption price provided for in this Section 3.01 but only the manner of calculation of the redemption price. The Company shall notify the Trustee of the redemption price with respect to the Notes promptly
after the calculation. The Trustee shall not be responsible for such calculation. 
 At the Company’s request, the Trustee shall give
the notice of redemption in the Company’s name and at its expense; provided, however, that the Company shall have delivered to the Trustee, at least two (2) Business Days (which notice may be conditional with respect to such
two (2) Business Day period but not with respect to such not less than 10 but not greater than 60 day notice period, except as otherwise specified herein) before notice of redemption is required to be mailed or caused to be mailed to Holders
pursuant to this Section 3.04 (unless a shorter notice period shall be agreed to by the Trustee), an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in
such notice as provided in the three preceding paragraphs. 
 SECTION 3.05    Effect of Notice of
Redemption. 
 Once notice of redemption is mailed in accordance with Section 3.04 hereof, Securities called
for redemption become irrevocably due and payable on the redemption date at the redemption price. Notwithstanding the foregoing, notice of any redemption of the Securities may, at the Company’s discretion, be given prior to the completion
thereof and be subject to one or more conditions precedent, including, but not limited to, completion of a change of control or financing transaction. In addition, if such redemption is subject to satisfaction of one or more conditions precedent,
such notice shall state that, in the Company’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be rescinded by the Company in
the event that any or all such conditions shall not have been satisfied by the redemption date, or by the redemption date so delayed. In addition, the Company may provide in such notice that payment of the

  
 21 

 
redemption price and performance of the Company’s obligations with respect to such redemption may be performed by another Person. The Company shall notify the Trustee in writing promptly
upon the satisfaction or failure of any condition precedent to any redemption or notice of redemption. 

SECTION 3.06    Deposit of Redemption Price. 

No later than 10:00 a.m. New York City Time on the redemption date, the Company shall deposit with the Trustee or with the Paying Agent
immediately available funds sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Company any money deposited with the
Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price of, and accrued interest, if any, on, all Securities to be redeemed. 

If the Company complies with the provisions of the preceding paragraph, on and after the redemption date, interest shall cease to accrue on
the Securities or the portions of such Securities called for redemption. If a Security is redeemed on or after an interest record date but on or prior to the related Interest Payment Date, then accrued and unpaid interest, if any, shall be paid to
the Person in whose name such Security was registered at the close of business on such record date. If any Security called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in such
Securities and in Section 4.01 hereof. 
 SECTION 3.07    Securities Redeemed in
Part. 
 Upon surrender of a Security that is redeemed in part, the Company shall issue and, upon the Company’s written request, the
Trustee shall authenticate for the Holder at the expense of the Company a new Security equal in principal amount to the unredeemed portion of such Security surrendered. 

SECTION 3.08    Securities No Longer Outstanding After Notice to Trustee and Deposit of Money. 

If the Company, having given notice to the Trustee as provided in Section 3.02, shall have deposited with the Trustee
or a Paying Agent, for the benefit of the Holders of any Securities of any series or portions thereof called for redemption in whole or in part cash or other form of payment if permitted by the terms of such Securities (which amount shall be
immediately due and payable to the Holders of such Securities or portions thereof), in the amount necessary so to redeem all such Securities or portions thereof on the redemption date together with interest accrued to the redemption date and
provision satisfactory to the Trustee shall have been made for the giving of notice of such redemption, such Securities or portions thereof, shall thereupon, for all purposes of this Indenture, be deemed to be no longer outstanding, and the Holders
thereof shall be entitled to no rights thereunder or hereunder, except the right to receive payment of the redemption price, together with interest accrued to the redemption date, on or after the redemption date of such Securities or portions
thereof. 
 ARTICLE IV 

COVENANTS 

SECTION 4.01    Payment of Securities. 

The Company shall pay or cause to be paid the principal of, and premium, if any, and interest on the Securities on the dates and in the manner
provided in the Securities. Any principal, premium and interest shall be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. New York City Time on the due date money
deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest, if any, then due. 

  
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 The Company shall pay interest (including post-petition interest in any proceeding under the
Bankruptcy Code) on overdue principal at the rate home on the Securities to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under the Bankruptcy Code) on overdue installments of interest, if any, (without
regard to any applicable grace period) at the same rate to the extent lawful. 
 SECTION 4.02    Maintenance of
Office or Agency. 
 The Company shall maintain an office or agency within the Borough of Manhattan, City of New York where Securities
may be presented for registration of transfer or for exchange (“Registrar”), an office or agency where Securities may be presented for payment (“Paying Agent”), and an office or agency where notices and demands to
or upon the Company in respect of the Securities and this Indenture may be served. The Registrar shall keep a register of the Securities and of their transfer and exchange (“Securities Register”). The Company may appoint one or more
co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any
additional paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company shall promptly notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company
fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 

The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered
for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in
the Borough of Manhattan, the City of New York for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

The Company hereby designates the office of the Trustee at 100 Wall Street, 16th Floor, New York, New York 10005, as one such office or agency
of the Company. 
 SECTION 4.03    Reports. 

(a)    So long as any Securities of any series are outstanding, the Company shall furnish (whether through hard copy or
internet-accessible data) to the Holders of any outstanding series of Securities and the Trustee, within 30 days after it files the same with the SEC, copies of, (i) all quarterly and annual reports that would be required to be filed with the
SEC on Forms 10-Q and 10-K if the Company were required to file such reports, and (ii) all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such reports. All such reports shall be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports. 

(b)    Each annual report on Form 10-K shall include a report on the
Company’s consolidated financial statements by the Company’s independent registered public accounting firm. In addition, the Company shall file a copy of each of the reports referred to in clauses (a)(i) and (a)(ii) above with the SEC for
public availability within the time periods specified in the rules and regulations applicable to such reports (unless the SEC will not accept such a filing) and make such information available to securities analysts and prospective investors upon
request. 
 (c)    The Company shall be deemed to have furnished such reports to the Trustee and the Holders of
Securities pursuant to this Section 4.03, if it has filed such reports with the SEC using the EDGAR filing system (or any successor thereto) and such reports are publicly available. 

  
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 (d)    In the event that any direct or indirect parent company of the Company
guarantees each outstanding series of the Securities, the obligations under this Section 4.03 may be satisfied by such parent company; provided that the same is accompanied by consolidating information that explains in
reasonable detail the differences between the information relating to such parent company, on the one hand, and the information relating to the Company and its Subsidiaries on a standalone basis, on the other hand. 

SECTION 4.04    Compliance Certificate. 

(a)    The Company shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officer’s
Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed,
performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every
covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or
Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which
payments on account of the principal of or interest, if any, on the Securities is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 

(b)    The Company shall, so long as any of the Securities are outstanding, deliver to the Trustee, forthwith upon any
executive Officer having knowledge that an event or circumstance constitutes a Default or an Event of Default and that such event or circumstance has occurred and is existing, an Officer’s Certificate specifying such Default or Event of Default
and what action the Company is taking or proposes to take with respect thereto. 
 SECTION 4.05    Waiver of
Stay, Extension and Usury Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist
upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the
Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the
Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 

SECTION 4.06    Secured Indebtedness 

If the Company or any Restricted Subsidiary incurs any Indebtedness secured by a Lien (other than a Permitted Lien) on any Principal Property
or on any share of stock or Indebtedness of a Restricted Subsidiary, the Company or such Restricted Subsidiary, as the case may be, will secure the Securities of each series equally and ratably with (or, at its option, prior to) the Indebtedness so
secured until such time as such Indebtedness is no longer secured by a Lien. 
 SECTION 4.07    Corporate
Existence 
 Subject to Article V hereof, the Company shall do all things necessary to preserve and keep in full force and effect its
corporate existence. 
 SECTION 4.08    Taxes 

The Company shall pay, prior to delinquency, all material taxes, charges, assessments, and governmental levies except such as are contested in
good faith and, if required, by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Securities. 

  
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 ARTICLE V 

SUCCESSORS 

SECTION 5.01    Merger, Consolidation, or Sale of Assets. 

The Company shall not consolidate or merge with or into (whether or not the Company is the surviving corporation), or sell, assign, transfer,
convey, lease or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to another Person, unless the Company is the resulting, transferee or surviving Person or the resulting, transferee or
surviving Person (if other than the Company) is a corporation, limited liability company or limited partnership organized and existing under the laws of the U.S. or any state thereof or the District of Columbia and such resulting, transferee or
surviving Person assumes, pursuant to a supplemental indenture and other documentation in form and substance reasonably satisfactory to the Trustee, all of the obligations and covenants of the Company under this Indenture and the Securities of each
series; provided that, unless such resulting, transferee or surviving Person is a corporation, a corporate co-issuer of the Securities of each series shall be added to this Indenture by such supplemental
indenture. 
 SECTION 5.02    Successor Corporation Substituted. 

Upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other disposition of all or substantially all of the assets
of the Company in accordance with Section 5.01 hereof, the successor Person formed by such consolidation or into or with which the Company is merged or to whom such sale, assignment, transfer, lease, conveyance or other
disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer
instead to such successor Person and not to the Person previously defined as Company), and may exercise every right and power of, the Company under this Indenture and the Securities of each series with the same effect as if such successor Person
originally had been named as the Company herein; and when such successor corporation duly assumes all of the obligations and covenants of the Company pursuant to the Securities of each series and hereto, the predecessor Person shall be relieved of
all such obligations. The successor Person thereupon may cause to be signed, and may issue either in its own name or in the name of the predecessor Person, any or all the Securities issuable hereunder which theretofore shall not have been signed by
the predecessor Person and delivered to the Trustee; and, upon the order of the successor Person, instead of the predecessor Person, and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall
authenticate and shall deliver any Securities which previously shall have been signed and delivered by the officers of the predecessor Person to the Trustee for authentication, and any Securities which the successor Person thereafter shall cause to
be signed and delivered to the Trustee for that purpose. All the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of
this Indenture as though all such Securities had been issued at the date of the execution hereof. 
 In case of such consolidation, merger,
sale, assignment, transfer, conveyance or other disposition, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

  
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 ARTICLE VI 

DEFAULTS AND REMEDIES 

SECTION 6.01    Events of Default. 

An “Event of Default”, with respect to a series of Securities, occurs if: 

(a)    the Company defaults in the payment when due of interest on any Security of such series and such default continues
for a period of 30 days; 
 (b)    the Company defaults in the payment when due of principal of or premium, if any, on
any Security of such series; 
 (c)    the Company fails to comply with any of the provisions of
Section 5.01 hereof and such failure continues for 30 days after written notice is given to the Company as provided herein with respect to such series of Securities or in any series of Securities; 

(d)    the Company fails to comply with Section 4.03 hereof and such failure continues for 120
days after written notice is given to the Company as provided below with respect to such series of Securities or in any series of Securities; 

(e)    the Company or any of its Restricted Subsidiaries fail to comply with any other agreement in this Indenture or any
series of Securities (other than a failure that is subject to clause (a), (b), (c) or (d) above) and such failure continues for 90 days after written notice is given to the Company as provided herein with respect to such series of Securities or
in any series of Securities; 
 (f)    a default occurs under any mortgage, indenture or instrument under which there
may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company (or the payment of which is guaranteed by the Company), whether such Indebtedness or guarantee now exists, or is created after the Issue
Date, which default (i) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (a “Payment Default”) or
(ii) results in the acceleration of such Indebtedness prior to its express maturity, and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been
a Payment Default or the maturity of which has been so accelerated, aggregates without duplication $250.0 million or more, and such default shall not have been cured or waived or any such acceleration rescinded, or such Indebtedness is repaid,
within ten Business Days after the running of such grace period or the occurrence of such acceleration; 
 (g)    the
Company: (i) commences a voluntary case under the Bankruptcy Code, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a custodian of it or for all or substantially
all of its property, (iv) makes a general assignment for the benefit of its creditors, or (v) generality is not paying its debts as they become due; and 

(h)    a court of competent jurisdiction enters an order or decree under the Bankruptcy Code that (i) is for relief
against the Company in an involuntary case; (ii) appoints a custodian of the Company or for all or substantially all of the property of the Company; or (iii) orders the liquidation of the Company; and the order or decree remains unstayed
and in effect for 60 consecutive days. 
 A Default under clause (c), (d) or (e) above shall not constitute an Event of Default with
respect to a series of Securities until the Trustee or the Holders of not less than 25% in the aggregate principal amount of the then outstanding Securities of such series provides written notice to the Company of the Default and the Company does
not cure such Default within the specified time after receipt of such notice. 

SECTION 6.02    Acceleration. 

If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then
outstanding Securities of a series then outstanding, voting as a single class, may declare all the Securities of such series to be due and payable immediately. Upon any such declaration, such Securities shall become due and payable immediately
without further action or 

  
 26 

 
notice, subject to the provisions of this Indenture. Notwithstanding the foregoing, if an Event of Default specified in clause (h) of Section 6.01 hereof occurs
with respect to the Company, all outstanding Securities shall be due and payable immediately without further action or notice, subject to the provisions of this Indenture. The Holders of at least a majority in aggregate principal amount of the then
outstanding Securities of a series by written notice to the Trustee may on behalf of all of the Holders of such Securities rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all
existing Events of Default (except nonpayment of principal or interest that has become due solely because of the acceleration) have been cured or waived. 

SECTION 6.03    Other Remedies. 

If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, and interest
on the Securities of each applicable series or to enforce the performance of any provision of the Securities of each applicable series or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder of a Security in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law. 
 SECTION 6.04    Waiver of Past Defaults. 

In the case of an Event of Default specified in clause (f) of the first paragraph under Section 6.01, an Event
of Default and all consequences thereof (excluding, however, any resulting payment default) shall be annulled, waived and rescinded with respect to the Securities of each series, automatically and without any action by the Trustee or the Holders, if
within 60 days after such Event of Default first arose the Company delivers an Officer’s Certificate to the Trustee stating that (i) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged or
(ii) the holders of the Indebtedness have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default or (iii) the default that is the basis for such Event of Default has been cured;
provided, however, that in no event shall an acceleration of the principal amount of any series of Securities pursuant to Section 6.02 hereof be annulled, waived or rescinded upon the happening of any such
events. 
 Holders of not less than a majority in aggregate principal amount of the then outstanding Securities of a series by notice to the
Trustee may on behalf of the Holders of the Securities of such series (1) waive any existing Default or Event of Default and its consequences under this Indenture, except a continuing Default or Event of Default in the payment of interest, if
any, on, or the principal of or premium on, the Securities of any series and (2) rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except
nonpayment of principal or interest that has become due solely because of the acceleration) have been cured or waived. Upon any such waiver, such Default or Event of Default shall cease to exist, and any Event of Default arising therefrom shall be
deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 

SECTION 6.05    Control by Majority. 

Holders of a majority in aggregate principal amount of the then outstanding Securities of a series may direct the time, method and place of
conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee
determines may be unduly prejudicial to the rights of other Holders of Securities of any series or that may involve the Trustee in personal liability. 

  
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 SECTION 6.06    Limitation on Suits. 

Except to enforce the right to receive payment of principal, premium, if any, or interest, if any, when due, no Holder of any series of
Securities may pursue a remedy with respect to this Indenture or the Securities of such series unless: 
 (a)    the
Holder of a Security has previously given to the Trustee written notice of a continuing Event of Default; 
 (b)    the
Holders of at least 25% in aggregate principal amount of the then outstanding Securities of such series have made a written request to the Trustee to pursue the remedy; 

(c)    such Holder of a Security or Holders of Securities offers to the Trustee security or indemnity reasonably
satisfactory to the Trustee against any loss, liability or expense; 
 (d)    the Trustee has not complied with the
request within 60 days after receipt of the request and the offer of security or indemnity; and 
 (e)    during such 60-day period the Holders of a majority in aggregate principal amount of the then outstanding Securities of such series do not give the Trustee a direction inconsistent with the request. 

A Holder of a Security may not use this Indenture to prejudice the rights of another Holder of a Security or to obtain a preference or priority over another
Holder of a Security or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

SECTION 6.07    Rights of Holders of Securities to Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of principal, premium, if any,
and interest on the Security, on or after the respective due dates expressed in the Security (including in connection with an offer to purchase or redemption), or to bring suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder. 
 SECTION 6.08    Collection Suit
by Trustee. 
 If an Event of Default specified in Section 6.01(a) hereof occurs and is continuing, the Trustee
is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium and interest remaining unpaid on the Securities and interest on overdue principal and, to the
extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

SECTION 6.09    Trustee May File Proofs of Claim. 

The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Securities allowed in any judicial proceedings relative to the Company
(or any other obligor upon the Securities), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such
judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any such compensation,
expenses, disbursements and advances of the 

  
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Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any
reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation
or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

SECTION 6.10    Priorities. 

If the Trustee collects any money pursuant to this Article, it shall pay out the money in the following order: 

First: to the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof,
including payment of all compensation, expense, and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second: to Holders of Securities for amounts due and unpaid on the Securities for principal, premium and, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Securities for principal, premium and interest, respectively; and 

Third: to the Company or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders of Securities pursuant to this
Section 6.10. 
 SECTION 6.11    Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the cost of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder of a Security
pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in principal amount of the then outstanding Securities of any series. 

ARTICLE VII 
 TRUSTEE 

SECTION 7.01    Duties of Trustee. 

(a)    If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b)    Except during the continuance of an Event of Default: 

(i)    the Trustee need perform only those duties that are specifically set forth in this Indenture and the
TIA and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee. To the extent of any conflict between the duties of the Trustee hereunder and under the TIA, the TIA shall control; and 

  
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 (ii)    in the absence of bad faith on its part, the Trustee
may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee shall
examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

(c)    The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or
its own willful misconduct, except that: 
 (i)    this paragraph does not limit the effect of paragraph
(b) of this Section; 
 (ii)    the Trustee shall not be liable for any error of judgment made in
good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii)     the Trustee shall not be liable with respect to any action it takes or omits to take in good
faith in accordance with a direction received by it pursuant to Section 6.05 hereof. 

(d)    Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the
Trustee is subject to paragraphs (a), (b), and (c) of this Section. 
 (e)    No provision of this Indenture shall
require the Trustee to expend or risk its own funds or incur any liability. The Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request or direction of any Holders, unless such Holder shall
have offered to the Trustee security or indemnity reasonably satisfactory to it against any loss, liability or expense. 

(f)    The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing
with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

SECTION 7.02    Rights of Trustee. 

(a)    The Trustee may conclusively rely upon any document (whether in its original or facsimile form) believed by it to be
genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document. 

(b)    Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of
Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel of its selection and the advice of
such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(c)    The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence
of any agent appointed with due care. 
 (d)    The Trustee shall not be liable for any action it takes or omits to take
in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 

(e)    Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company
shall be sufficient if signed by an Officer of the Company. 

  
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 (f)    The Trustee shall be under no obligation to exercise any of the rights
or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities (including fees and
expenses of its agents and counsel) that might be incurred by it in compliance with such request or direction. 

(g)    The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness of other paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or
attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(h)    The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of
the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture.

 (i)    The rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(j)    The Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person
specified as so authorized in any such certificate previously delivered and not superseded. 

SECTION 7.03    Individual Rights of Trustee. 

The Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the Company or
any Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to
continue as Trustee or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 

SECTION 7.04    Trustee’s Disclaimer. 

The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Securities, it
shall not be accountable for the Company’s use of the proceeds from the Securities or any money paid to the Company or upon the Company’s direction under any provision of this Indenture, it shall not be responsible for the use or
application of any money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Securities or any other document in connection with the sale of the Securities
or pursuant to this Indenture other than its certificate of authentication. 
 SECTION 7.05    Notice of
Defaults. 
 If a Default or Event of Default occurs and is continuing and if it is actually known to a Responsible Officer of the
Trustee, the Trustee shall mail to Holders of Securities a notice of the Default or Event of Default within 90 days after the later of (a) the date the Default or Event of Default shall have occurred and (b) the date such Responsible
Officer first had such actual knowledge. Except in the case of a Default or Event of Default in payment of principal of, or interest on, any Security, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in
good faith determines that withholding the notice is in the interests of the Holders of the Securities. 

  
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 SECTION 7.06    Reports by Trustee to Holders of the Securities.

 Within 60 days after each April 15 beginning with the April 15 following the date of this Indenture, and for so long as
Securities remain outstanding, the Trustee shall mail to the Holders of the Securities a brief report dated as of such reporting date that complies with TIA §313(a) (but if no event described in TIA § 313(a) has occurred within the twelve
months preceding the reporting date, no report need be transmitted). The Trustee also shall comply with TIA § 313(b)(2). The Trustee shall also transmit by mail all reports as required by TIA § 313(c). 

A copy of each report at the time of its mailing to the Holders of Securities shall be mailed to the Company and filed with the SEC and each
stock exchange on which the Securities are listed in accordance with TIA § 313(d). The Company shall promptly notify the Trustee when the Securities are listed on any stock exchange or delisted therefrom. 

SECTION 7.07    Compensation and Indemnity. 

The Company shall pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as such
parties shall agree in writing from time to time. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly upon request for all reasonable
disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

The Company shall indemnify each of the Trustee and any predecessor Trustee against any and all losses, liabilities, claims, damages or
expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this
Section 7.07) and defending itself against any claim (whether asserted by the Company or any Holder or any other person) or liability in connection with the exercise or performance of any of its powers or duties hereunder,
except to the extent any such loss, liability, claim, damage or expense may be attributable to its negligence, bad faith or willful misconduct. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by
the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim, and the Trustee shall cooperate in the defense. The Trustee may have separate counsel, and the Company shall pay the
reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. 

The obligations of the Company under this Section 7.07 shall survive the satisfaction and discharge of this
Indenture. 
 To secure the Company’s payment obligations in this Section, the Trustee shall have a Lien prior to the Securities on all
money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Securities. Such Lien shall survive the satisfaction and discharge of this Indenture. 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(h) hereof
occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under the Bankruptcy Code. 

The Trustee shall comply with the provisions of TIA § 313(b)(2) to the extent applicable. 

  
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 SECTION 7.08    Replacement of Trustee. 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section. 
 The Trustee may resign in writing at any time and be discharged from the trust
hereby created by so notifying the Company. The Holders of Securities of a majority in principal amount of the then outstanding Securities may remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the
Trustee if: 
 (a)    the Trustee fails to comply with Section 7.10 hereof; 

(b)    the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee
under the Bankruptcy Code; 
 (c)    a Custodian takes charge of the Trustee or its property; or 

(d)    the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the
expense of the Company), the Company, or the Holders of Securities of at least 10% in principal amount of the then outstanding Securities may petition any court of competent jurisdiction (in the case of the Trustee, at the expense of the Company)
for the appointment of a successor Trustee. 
 If the Trustee, after written request by any Holder of a Security who has been a Holder of a
Security for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Security may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon,
the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of the Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in
Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for
the benefit of the retiring Trustee. 
 SECTION 7.09    Successor Trustee by Merger, Etc. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act shall be the successor Trustee. As soon as practicable, the successor Trustee shall mail a notice of its succession to the Company and the Holders of the Securities. 

SECTION 7.10    Eligibility; Disqualification. 

There shall at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the U.S. or of any state
thereof that is authorized under such laws to exercise corporate 

  
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trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $50.0 million as set forth in its most
recent published annual report of condition. 
 This Indenture shall always have a Trustee who satisfies the requirements of TIA §
310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b). 
 SECTION 7.11    Preferential Collection
of Claims Against Company. 
 The Trustee is subject to TIA §311(a), excluding any creditor relationship listed in TIA §
311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
 ARTICLE VIII

 SATISFACTION AND DISCHARGE; DEFEASANCE 

SECTION 8.01    Satisfaction and Discharge of Indenture. 

This Indenture shall upon delivery of a written request of an Officer of the Company to the Trustee cease to be of further effect with respect
to the Securities (except as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction
and discharge of this Indenture with respect to the Securities, when: 
 (a)    either 

(i)    all such Securities theretofore authenticated and delivered (other than (1) such Securities
which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.08 hereof and (2) such Securities for whose payment money has been deposited in trust or segregated and held in
trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 8.08 hereof) have been delivered to the Trustee for cancellation; or 

(ii)    all such Securities not theretofore delivered to the Trustee for cancellation 

(1)    have become due and payable by reason of the making of a notice of redemption or otherwise, 

(2)    will become due and payable at their final Stated Maturity within one year, or 

(3)    are to be called for redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice of redemption by the Trustee in the name, and at the expense of, the Company, 
 and the Company, in the case of (ii)(1), (ii)(2) or
(ii)(3) above, has deposited or caused to be deposited with the Trustee as trust funds, in trust solely for the purpose and the benefit of the Holders of such Securities, an amount of U.S. dollars or
non-callable Government Securities, or a combination thereof, sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness on such Securities not theretofore
delivered to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit (in the case of such Securities which have become due and payable), the Stated Maturity or the redemption date (as the case may be) of
the principal of the Securities; 

  
 34 

 (b)    no Default or Event of Default with respect to this Indenture or the
Securities shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) or shall occur as a result of such deposit (other than a
Default or Event of Default resulting from the incurrence of Indebtedness or the grant of Liens securing such Indebtedness, all or a portion of the proceeds of which shall be used to defease all of the outstanding Securities pursuant to this
ARTICLE VIII concurrently with such incurrence or within 30 days thereof), and such deposit shall not result in a breach or violation of, or constitute a default under, any material instrument to which the Company is a party or by which the
Company is bound; 
 (c)    the Company has paid or caused to be paid all other sums payable hereunder by the Company
with respect to such Securities; and 
 (d)    the Company has delivered to the Trustee (i) irrevocable
instructions under this Indenture to apply the deposited funds toward the payment of such Securities at their Stated Maturity or on the redemption date, as the case may be, and (ii) an Officer’s Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with; provided that such Opinion of Counsel with respect to clause (b) of this
Section 8.01 may be to the knowledge of such counsel. 
 Notwithstanding the satisfaction and discharge of this
Indenture with respect to the Securities, the obligations of the Company to the Trustee under Section 7.07 hereof, and, if U.S. dollars or Government Securities shall have been deposited with the Trustee pursuant to
subclause (ii) of clause (a) of this Section, the obligations of the Company or Trustee under Section 8.02 hereof and Section 8.08 hereof shall survive. 

SECTION 8.02    Application of Trust Money. 

Subject to the provisions of Section 8.08 hereof, all money and Government Securities deposited with the Trustee
pursuant to Section 8.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the
Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money or Government Securities has been deposited with the Trustee. 

SECTION 8.03    Option to Effect Legal Defeasance or Covenant Defeasance. 

The Company may, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate, at any time,
exercise its right under either Section 8.04 or Section 8.05 hereof with respect to a series of outstanding Securities upon compliance with the conditions set forth below in this ARTICLE
VIII. 
 SECTION 8.04    Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 8.03 hereof of the option applicable to this
Section 8.04 with respect to a series of Securities, the Company shall, subject to the satisfaction of the conditions set forth in Section 8.06 hereof, be deemed to have discharged its obligations
with respect to all outstanding Securities of such series (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented
by the outstanding Securities of the applicable series, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.07 hereof and the other Sections of this Indenture referred to in
(a) and (b) below, and to have satisfied all its other obligations under such Securities and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for
the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Securities to receive solely from the trust fund described in Section 8.06
hereof, and as more fully set forth in such Section, payments in respect of the principal of, and premium, if any, and interest, if any, on, such Securities when such payments are due, (b) the 

  
 35 

 
Company’s obligations with respect to such Securities under Sections 2.05, 2.08, 2.11 and 4.02 hereof, (c) the rights, powers, trusts, duties and immunities
of the Trustee hereunder and the Company’s obligations in connection therewith and (d) this ARTICLE VIII. Subject to compliance with this ARTICLE VIII, the Company may exercise its option under this
Section 8.04 notwithstanding the prior exercise of its option under Section 8.05 hereof. 

SECTION 8.05    Covenant Defeasance. 

Upon the Company’s exercise under Section 8.03 hereof of the option applicable to this
Section 8.05, the Company shall, with respect to a series of Securities, subject to the satisfaction of the conditions set forth in Section 8.06 hereof, be released from its obligations under the
covenants contained in Article IV hereof (other than those in Sections 4.01, 4.02, 4.05 and Section 4.07), ARTICLE V hereof on and after the date the conditions set forth below are satisfied
(hereinafter, “Covenant Defeasance”), and the Securities of such series shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences
of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Securities shall not be deemed outstanding for accounting purposes). For this
purpose, Covenant Defeasance means that, with respect to the outstanding Securities of a series, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether
directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document, and such omission to comply shall not constitute a
Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Securities shall be unaffected thereby. In addition, upon the Company’s exercise under
Section 8.03 hereof of the option applicable to this Section 8.05 hereof, subject to the satisfaction of the conditions set forth in Section 8.06 hereof, Sections
6.01(c) through 6.01(h) hereof shall not constitute Events of Default. 
 SECTION 8.06    Conditions
to Legal or Covenant Defeasance. 
 The following shall be the conditions to the application of either Sections 8.04 or
8.05 hereof in order to exercise either Legal Defeasance or Covenant Defeasance with respect to the outstanding Securities of any series: 

(a)    the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of such series of
Securities, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as shall be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm
or firm of independent public accountants, to pay the principal of, and premium, if any, and interest, if any, on, the outstanding Securities of such series on the stated maturity or on the applicable repurchase or redemption date, as the case may
be, and the Company must specify whether the Securities of such series are being defeased to maturity or to a particular repurchase or redemption date; 

(b)    in the case of an election under Section 8.04 hereof, the Company shall have delivered to
the Trustee an Opinion of Counsel in the U.S. reasonably acceptable to the Trustee confirming that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this
Indenture, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Securities of such series will not recognize
income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and shall be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance
had not occurred; 
 (c)    in the case of an election under Section 8.05 hereof, the Company
shall have delivered to the Trustee an Opinion of Counsel in the U.S. reasonably acceptable to the Trustee confirming that the Holders of the outstanding Securities of such series will not recognize income, gain or loss for federal income tax
purposes as a result of such Covenant Defeasance and shall be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

  
 36 

 (d)    no Default or Event of Default with in respect of such series of
Securities shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the incurrence of Indebtedness or borrowing of funds or the grant of Liens securing such Indebtedness or other
borrowing, all or a portion of the proceeds of which shall be applied to such deposit); 
 (e)    such deposit shall not
result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company is a party or by which the Company is bound, or if such breach, violation or default would
occur, which is not waived as of, and for all purposes, on and after, the date of such deposit; 
 (f)    the Company
shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of such series of Securities over the other creditors of the Company or with the intent
of defeating, hindering, delaying or defrauding creditors of the Company or others; and 
 (g)    the Company shall have
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

SECTION 8.07    Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.

 Subject to Section 8.08 hereof, all money and non-callable Government
Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.07, the “Trustee”) pursuant to
Section 8.06 hereof in respect of the applicable outstanding Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal, premium, if any, and interest, if
any, but such money need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.06 hereof or the principal
and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the applicable outstanding Securities. 

Anything in this Article VIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon
the request of the Company any money or non-callable Government Securities held by it as provided in Section 8.06 hereof which, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.06(a) hereof), are in excess of the amount thereof that would then be
required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

SECTION 8.08    Repayment to Company. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, or
premium, if any, or interest, if any, on, any Security and remaining unclaimed for two years after such principal, and premium, if any, or interest, if any, has become due and payable shall be paid to the Company on its request or (if then held by
the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as a secured creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, 

  
 37 

 
that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in The New York Times and The Wall
Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money
then remaining shall be repaid to the Company. 
 SECTION 8.09    Reinstatement. 

If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government
Securities in accordance with Sections 8.04 or 8.05 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the
Company’s obligations under this Indenture and the applicable Securities shall be revived and reinstated as though no deposit had occurred pursuant to Sections 8.04 or 8.05 hereof until such time as the Trustee or Paying Agent is
permitted to apply all such money in accordance with Sections 8.04 or 8.05 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, or premium, if any, or interest, if any,
on, any Security following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE IX 
 AMENDMENT, SUPPLEMENT
AND WAIVER 
 SECTION 9.01    Without Consent of Holders of Securities. 

Notwithstanding Section 9.02 hereof, the Company and the Trustee may amend or supplement this Indenture or the
Securities without the consent of any Holder of a Security: 
 (a)    to cure any ambiguity, defect, omission, mistake
or inconsistency; 
 (b)    to provide for uncertificated Securities in addition to or in place of certificated
Securities or to alter the provisions of ARTICLE II hereof (including the related definitions) in a manner that does not materially adversely affect any Holder; 

(c)    to provide for the assumption of the Company’s obligations to the Holders of the Securities in the case of a
merger, consolidation or sale of all or substantially all assets of the Company pursuant to ARTICLE V hereof, including the addition of any required co-issuer of the Securities; 

(d)    to make any change that would provide any additional rights or benefits to the Holders of the Securities or that
does not adversely affect the legal rights hereunder of any such Holder; 
 (e)    to comply with requirements of the
SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
 (f)    to allow any party to
guarantee the Securities; 
 (g)    to evidence or provide for the acceptance of appointment of a successor Trustee
pursuant to Sections 7.08 or 7.09 hereof; 
 (h)    to add any additional Events of Default; 

(i)    to secure the Securities and/or any guarantee; 

  
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 (j)    to conform the text of this Indenture or the Securities to any
provision of the Description of the Securities section of the prospectus supplement to the extent that such provision in the Description of the Securities was intended to be a recitation of a provision of this Indenture or the Securities; 

(k)    to provide for the issuance of additional Securities; 

(l)    to comply with the rules of any applicable securities depository; and 

(m)    to make any amendment to the provisions herein relating to the transfer and legending of the Securities as
permitted herein, including to facilitate the issuance and administration of the Securities or to remove legends or restrictions that are no longer applicable; provided, however, that (i) compliance with the Indenture as so amended would not
result in the Securities being transferred in violation of any applicable securities law and (ii) such amendment does not materially affect the rights of Holders to transfer the Securities. 

Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental indenture, and upon receipt by a Responsible Officer of the Trustee of an Officer’s Certificate and an Opinion of Counsel, the Trustee shall join with the Company in the execution of any amended or supplemental indenture authorized
or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or supplemental indenture that affects its
own rights, duties, liabilities or immunities under this Indenture or otherwise. 
 SECTION 9.02    With Consent
of Holders of Securities. 
 Except as provided below in this Section 9.02, the Company and the Trustee may
amend or supplement this Indenture or the Securities with the consent of the Holders, with respect to a series of the Securities, of at least a majority in aggregate principal amount of the then outstanding Securities of such series, voting as one
class (including consents obtained in connection with the purchase of, or a tender offer or exchange offer for, the Securities), and, subject to Sections 6.04 and 6.07 hereof, any existing Default, Event of Default or compliance with
any provision of this Indenture, the Securities may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Securities of all series of Securities that are affected by such waiver, voting as one
class (including consents obtained in connection with a purchase of or tender offer or exchange offer for such Securities). 
 Upon the
request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the
Holders of Securities as aforesaid, and upon receipt by a Responsible Officer of the Trustee of an Officer’s Certificate and an Opinion of Counsel, the Trustee shall join with the Company in the execution of such amended or supplemental
indenture unless such amended or supplemental indenture affects the Trustee’s own rights, duties, liabilities or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter
into such amended or supplemental indenture. 
 It shall not be necessary for the consent of the Holders of Securities under this
Section 9.02 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 

After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall mail to the
Holders of Securities affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such
amended or supplemental indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of the Securities of all series of Securities that are affected by the applicable waiver
then outstanding may waive compliance in a particular instance by the Company with any provision of this Indenture or the Securities. However, without the consent of each Holder affected, an amendment, supplement or waiver may not (with respect to
any Securities held by a non-consenting Holder): 
 (a)    reduce the principal
amount of Securities whose Holders must consent to an amendment, supplement or waiver under any provision of this Indenture or the Securities; 

  
 39 

 (b)    reduce the principal of or change the fixed maturity of any Security
or alter or waive in any manner that adversely affects the rights of any Holder of Securities any of the provisions with respect to the redemption of the Securities; 

(c)    reduce the rate of or change the time for payment of interest, including default interest, if any, on any Security;

 (d)    waive a Default or Event of Default in the payment of principal of or premium, if any, or interest, if any, on
the Securities (except a rescission of acceleration of the Securities by the Holders of at least a majority in aggregate principal amount of the then outstanding Securities and a waiver of the payment default that resulted from such acceleration);

 (e)    make any Security payable in currency other than that stated in such Security; 

(f)    make any change that adversely affects the rights of any Holder of Securities in the provisions of this Indenture
relating to waivers of past Defaults or make any change to the rights of Holders of Securities to receive payments of principal of, or premium, if any, or interest, if any, on the Securities (except as permitted by clause (g) of this
Section 9.02); 
 (g)    waive a redemption payment with respect to any Security; or 

(h)    make any change in Sections 6.04 and 6.07 hereof or in the foregoing amendment and waiver provisions.

 SECTION 9.03    Compliance with Trust Indenture Act. 

Every amendment or supplement to this Indenture or the Securities shall be set forth in an amended or supplemental indenture that complies with
the TIA as then in effect. 
 SECTION 9.04    Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder of
a Security and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder of a Security
or subsequent Holder of a Security may revoke the consent as to its Security if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver becomes
effective in accordance with its terms and thereafter binds every Holder. 
 SECTION 9.05    Notation on or
Exchange of Securities. 
 The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Security
thereafter authenticated. The Company, in exchange for all Securities affected by the applicable amendment, supplement or waiver, may issue and the Trustee shall authenticate new Securities that reflect the amendment, supplement or waiver. 

Failure to make the appropriate notation or issue a new Security shall not affect the validity and effect of such amendment, supplement or
waiver. 

  
 40 

 SECTION 9.06    Trustee to Sign Amendments, Etc. 

The Trustee shall sign any amended or supplemental indenture authorized pursuant to this ARTICLE IX if the amendment or supplement does
not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties, liabilities or
immunities under this Indenture or otherwise. The Company may not sign an amendment or supplemental indenture until the Board of Directors approves it. In executing any amended or supplemental indenture, the Trustee shall be entitled to receive and
(subject to Section 7.01 hereof) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or
permitted by this Indenture. 
 ARTICLE X 

MISCELLANEOUS 

SECTION 10.01    Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA § 318(c), the imposed duties shall
control. 
 SECTION 10.02    Notices. 

Any notice or communication by the Company or the Trustee to the others is duly given if in writing and delivered in Person or mailed by
first-class mail (registered or certified, return receipt requested), telecopier or overnight air courier guaranteeing next-day delivery, to the others’ address: 

If to the Company: 
 Andeavor

 19100 Ridgewood Parkway 
 San
Antonio, Texas 78259 
 Attention: Corporate Secretary 

With a copy to: 

Sullivan & Cromwell LLP 

125 Broad Street 
 New York, New
York 10004 
 Attention: Ari Blaut, Esq. 

If to the Trustee: 
 U.S. Bank
National Association 
 535 Griswold, Suite 550 

Detroit, Michigan 48226 
 Fax No.:
(313) 963-9428 
 Attention: Corporate Trust Administration 

The Company or the Trustee, by notice to the others may designate additional or different addresses for subsequent notices or communications.

 All notices and communications (other than those sent to Holders) shall be deemed to have been duly given: at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back; when receipt acknowledged, if faxed; and the next Business Day after timely delivery to the courier, if sent by overnight
air courier guaranteeing next day delivery. 

  
 41 

 Any notice or communication to a Holder shall be mailed by first-class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication shall also be so mailed to any Person described in TIA §
313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee
receives it. 
 If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same
time. 
 SECTION 10.03    Communication by Holders of Securities with Other Holders of Securities. 

Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Securities.
The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

SECTION 10.04    Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (a)    an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which
shall include the statements set forth in Section 10.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action
have been satisfied; and 
 (b)    an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 10.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 

SECTION 10.05    Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate
provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 

(a)    a statement that the Person making such certificate or opinion has read such covenant or condition; 

(b)    a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate or opinion are based; 
 (c)    a statement that, in the opinion of such Person,
he or she has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(d)    a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

  
 42 

 SECTION 10.06    Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set
reasonable requirements for its functions. 
 SECTION 10.07    No Personal Liability of Directors, Officers,
Employees, Managers, Incorporators, Members, Partners and Stockholders. 
 No past, present or future director, officer, employee,
manager, incorporator, member, partner or stockholder or other owner of Capital Stock of the Company or any of its Subsidiaries, or of any member, partner or stockholder of any such entity, as such, shall have any liability for any obligations of
the Company under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are
part of the consideration for issuance of the Securities. 
 SECTION 10.08    Governing Law. 

THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 10.09    No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

SECTION 10.10    Successors. 

All agreements of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture
shall bind its successors. 
 SECTION 10.11    Severability. 

In case any provision in this Indenture or in the Securities 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 10.12    Counterpart Originals. 

The parties may sign any number of copies of this Indenture, and each party hereto may sign any number of separate copies of this Indenture.
Each signed copy shall be an original, but all of them together represent the same agreement. 

SECTION 10.13    Table of Contents, Headings, Etc. 

The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof. 

[Remainder of Page Intentionally Left Blank] 

  
 43 

 
			
	ANDEAVOR

 
			
		
	By:	 	 /s/ Stephan E. Tompsett

		 	Stephan E. Tompsett
		 	Vice President and Treasurer

  
 [Signature Page to
Indenture] 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 
			
		
	By:	 	 /s/ James Kowalski

		 	James Kowalski
		 	Vice President

  
 [Signature Page to
Indenture] 

 EXHIBITS 
  

			
	Exhibit A	  	FORM OF SECURITY

 EXHIBIT A 

[FORM OF SECURITY] 

(Front of Security) 

[Insert any legend required by the Internal Revenue Code and the regulations thereunder.] 

No.                      

$             

CUSIP No.             

Andeavor, a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”, which term
includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to                     , or
registered assigns, the principal sum of Dollars on                      [if this Security is to bear interest prior to Maturity, insert
– , and to pay interest thereon from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on
                     and                      in
each year, commencing                      and at the Maturity thereof, at the rate of % per annum, until the principal hereof is paid or made
available for payment, [if applicable, insert – provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of % per annum (to the extent that the payment of such
interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand]. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more predecessor Securities) is registered at the close of business on the record date for such interest, which shall be the
                     or                     
(whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest so payable, but not punctually paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the Holder
on such record date and may either be paid to the Person in whose name this Security (or one or more predecessor Securities) 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, notice whereof shall be given to Holders of Securities 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 any securities
exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.] 

[If the Security is not to bear interest prior to Maturity, insert – The principal of this Security shall not bear interest except
in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of % per annum (to the extent that the payment
of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment.] 

Payment of the principal of (and premium, if any) and [if applicable, insert – any such] interest on this Security will be made at
the office or agency of the Company maintained for that purpose in New York, New York, in such coin or currency of the U.S. as at the time of payment is legal tender for payment of public and private debts, against surrender of this Security in the
case of any payment due at the Maturity of the principal hereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date); provided, however, that at the option of the Company payment of
interest may be made (1) by check mailed to the address of the Person entitled thereto as such address shall appear in the Securities Register, or (2) by wire transfer in immediately available funds at the bank account number maintained
within the U.S. as may be designated by the Person entitled thereto, as specified in the Securities Register in writing; and provided, further, that if this Security is a Global Security, payment may be made pursuant to the Applicable
Procedures of the Depositary as permitted in the Indenture. 

  
 A-1 

 Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee or an authentication agent on its behalf referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory
for any purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	ANDEAVOR

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-2 

 (Back of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of                     , (herein called the “Indenture”, which term shall have
the meaning assigned to it in such instrument), between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made
to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof [if applicable, insert – [initially] limited in aggregate principal amount to
$            ] [, provided that the Company may, without the consent of any Holder, at any time and from time to time increase the initial principal amount]. 

[[If applicable, insert – The Securities of this series are subject to redemption upon not less than 10 days’ nor more than
60 days’ notice by mail, [if applicable, insert – (1) on                      in any year commencing with the year
                     and ending with the year
                     through operation of the sinking fund for this series at a redemption price equal to 100% of the principal amount, and (2)] at
any time [if applicable, insert – on or after             , 20    ], as a whole or in part, at the election of the Company, at the following redemption
prices (expressed as percentages of the principal amount): If redeemed during the 12-month period beginning
                     of the years indicated, 
  

							
	Year	 	Redemption Price	 	Year	  	Redemption Price

 and thereafter at a redemption price equal to % of the
principal amount, together in the case of any such redemption [(whether through operation of the sinking fund or otherwise)] with accrued interest to the redemption date, but interest installments whose Stated Maturity is on or prior to such
redemption date will be payable to the Holders of such Securities, or one or more predecessor Securities, of record at the close of business on the relevant record dates referred to on the face hereof, all as provided in the Indenture.] 

[If applicable, insert – The sinking fund for this series provides for the redemption on in each year beginning with the year and
ending with the year of [if applicable, insert – not less than $ (“mandatory sinking fund”) and not more than] $     aggregate principal amount of Securities of this series. Securities of this series
acquired or redeemed by the Company otherwise than through [if applicable, insert – mandatory] sinking fund payments may be credited against subsequent [if applicable, insert – mandatory] sinking fund payments otherwise
required to be made [if applicable, insert – , in the inverse order in which they become due].] 
 [If the Security is
subject to redemption of any kind, insert – In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof.] 
 [If applicable, insert – The Indenture contains provisions for defeasance at any time
of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.] 

[If the Security is not an Original Issue Discount Security, insert – If an Event of Default with respect to Securities of this
series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

[If the Security is an Original Issue Discount Security, insert – If an Event of Default with respect to Securities of this series
shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the 

  
 A-3 

 
Indenture. Such amount shall be equal to – insert formula for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of
interest on any overdue principal, premium and interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and
interest, if any, on the Securities of this series shall terminate.] 
 The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of not less than a majority in principal amount of the Securities at the time outstanding of all series to be affected. The Indenture also contains provisions (i) permitting the Holders of not less than a majority of the aggregate
principal amount of the Securities of all affected series at the time outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture with respect to such series and
(ii) permitting the Holders of a majority in principal amount of the Securities at the time outstanding of all series to be affected under the Indenture, on behalf of the Holders of all Securities of such series, to waive certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security 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 Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of at least 25% of the principal amount of the Securities of all affected series at the time outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of all affected series at the time outstanding a direction inconsistent with
such 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 Security 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 Indenture and no provision of this Security or of the 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 Security at the
times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the Securities Register, upon surrender of this Security 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 Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities 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 Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiples of
$1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a
different authorized denomination, as requested by the Holder surrendering the same. 

  
 A-4 

 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 Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee shall treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not
this Security be overdue, and none of the Company, the Trustee and any such agent shall be affected by notice to the contrary. 
 [If
applicable, insert – This Security is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 3.05 thereof on transfers and exchanges
of Global Securities.] 
 [If applicable, insert – Interest on the principal balance of this Security shall be calculated on the
basis of a [365- or 366-day year, as appropriate, for the actual number of days elapsed] [360-day year of twelve 30-day months.]] 
 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK. 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the
Indenture. 

  
 A-5 

 [FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION] 

The Trustee’s certificates of authentication shall be in substantially the following form: 

This is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 

Dated: 
  

			
	U.S. Bank National Association,
As Trustee
		
	By:	 	[                    ]
		 	Authorized Signatory

  
 A-6EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
 ANDEAVOR

 FIRST SUPPLEMENTAL INDENTURE 

$500,000,000 3.800% Senior Notes due 2028 

$500,000,000 4.500% Senior Notes due 2048 

This FIRST SUPPLEMENTAL INDENTURE, dated as of December 21, 2017 (this “First Supplemental Indenture”), to the Base
Indenture (as defined below), among ANDEAVOR, a Delaware corporation, and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 

RECITALS OF THE COMPANY: 

WHEREAS, the Company has heretofore executed and delivered to the Trustee that certain indenture, dated as of December 21, 2017, among
the Company and the Trustee (the “Base Indenture” and, as supplemented by the First Supplemental Indenture, collectively, the “Indenture”), providing for the issuance from time to time of one or more series of Notes
(as defined in the Indenture); 
 WHEREAS, Sections 2.01 and 2.03 of the Base Indenture provide for certain matters with respect to any
series of Notes issued under the Base Indenture as established in an indenture supplemental to the Base Indenture; 
 WHEREAS,
Section 9.01 of the Base Indenture provides that the Company and the Trustee may enter into an indenture supplemental to the Base Indenture to provide for the issuance of one or more series of Notes; and 

WHEREAS, all the conditions and requirements necessary to make this First Supplemental Indenture, when duly executed and delivered, a valid
and binding agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled. 
 NOW
THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: 
 For and in consideration of the premises and the issuance of the series of Notes provided
for herein, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders of the Notes of such series as follows: 

ARTICLE I 
 Relation to
Indenture; Definitions; Rules Of Construction 
 SECTION 1.01.    Relation to Indenture. This First
Supplemental Indenture constitutes an integral part of the Indenture with respect to the Notes. The Notes are a series of Notes referred to in the Base Indenture. 

 SECTION 1.02.    Definitions. For all purposes of this First
Supplemental Indenture, the following terms shall have the respective meanings set forth in this Section. 
 “2028 Notes”
means the Initial 2028 Notes and any Additional 2028 Notes issued under this First Supplemental Indenture. 
 “2028 Par Call
Date” means January 1, 2028. 
 “2048 Notes” means the Initial 2048 Notes and any Additional 2048 Notes
issued under this First Supplemental Indenture. 
 “2048 Par Call Date” means October 1, 2047. 

“Additional 2028 Notes” means the 3.800% Senior Notes due 2028 issued in compliance with and under this Indenture after the
Issue Date. 
 “Additional 2048 Notes” means the 4.500% Senior Notes due 2048 issued in compliance with and under this
Indenture after the Issue Date. 
 “Additional Notes” means, collectively, the Additional 2028 Notes and the Additional
2048 Notes. 
 “Clearstream” means Clearstream Banking, société anonyme, or any successor securities clearing
agency. 
 “Comparable Treasury Issue” means the United States Treasury security selected, in accordance with customary
financial practice, by an Independent Investment Banker as having a maturity comparable to the remaining term, which is referred to as the “Remaining Life,” of the Notes to be redeemed that would be utilized, at the time of selection and
in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (assuming that the Notes matured on the applicable Par Call Date). 

“Comparable Treasury Price” means, with respect to any redemption date, (a) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (b) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.

 “Definitive Note” means a certificated Initial Note that does not include the Global Notes Legend. 

“Euroclear” means the Euroclear Clearance System or any successor securities clearing agency. 

“Global Notes Legend” means the legend set forth under that caption in Exhibits A and B to this First Supplemental Indenture.

  
 2 

 “Global Notes” means, individually and collectively, each of the Notes issued or
issuable in the global form of Exhibit A or Exhibit B hereto issued in accordance with Section 2.01 hereof. 

“guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of
business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof or pledging assets to secure), of all or any part of any Indebtedness. 

“Independent Investment Banker” one of the Reference Treasury Dealers appointed by the Company. 

“Indenture” has the meaning set forth in the Recitals. 

“Initial 2028 Notes” means the $500,000,000 aggregate principal amount of 3.800% Senior Notes due 2028 issued by the Company
on the Issue Date. 
 “Initial 2048 Notes” means the $500,000,000 aggregate principal amount of 4.500% Senior Notes due
2048 issued by the Company on the Issue Date. 
 “Initial Notes” means, collectively, the Initial 2028 Notes and Initial
2048 Notes. 
 “Issue Date” means December 21, 2017. 

“Note Custodian” means the Trustee, as custodian for the Depositary with respect to the Notes in global form, or any
successor entity thereto. 
 “Notes” means the Initial Notes and any Additional Notes issued under this First Supplemental
Indenture. 
 “Par Call Date” means each of the 2028 Par Call Date and the 2048 Par Call Date. 

“participant” means, with respect to DTC, Euroclear or Clearstream, a Person who has an account with DTC, Euroclear or
Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 
 “Prospectus” means the
Prospectus, dated November 13, 2017, as supplemented by the Prospectus Supplement, dated December 14, 2017, relating to the issuance and sale of the Initial Notes. 

“Reference Treasury Dealer” means any three nationally recognized investment banking firms selected by the Company that are
primary dealers of Government Securities. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue with respect to the applicable series of Notes, expressed in each case as a percentage of its principal
amount, quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day immediately preceding the redemption date. 

  
 3 

 “First Supplemental Indenture” has the meaning set forth in the Recitals. 

“Securities Custodian” means the custodian with respect to a Global Note (as appointed by the Depositary) or any successor
person thereto, who shall initially be the Trustee. 
 “Trustee” has the meaning set forth in the Recitals. 

“Treasury Rate” means, with respect to any redemption date, the rate per year equal to: (a) the yield, under the heading
which represents the average for the immediately preceding week, appearing in, or available through, the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of
Governors of the Federal Reserve System (or companion online data resource published by the Board of Governors of the Federal Reserve System) and which establishes yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the applicable Comparable Treasury Issue; provided that, if no maturity is within three months before or after the Remaining Life of the Notes to
be redeemed, yields for the two published maturities most closely corresponding to the applicable Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from those yields on a straight-line basis,
rounding to the nearest month; or (b) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semiannual equivalent yield to
maturity of the applicable Comparable Treasury Issue, calculated using a price for the applicable Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the related Comparable Treasury Price for such redemption date.
The Treasury Rate shall be calculated by the Company on the third Business Day preceding the redemption date. 
 SECTION
1.03.    Other Definitions. 
  

			
	 Term
	  	Defined
in Section
	 “Agent Members”
	  	2.01
	 “DTC”
	  	2.06
	 “Paying Agent”
	  	2.06
	 “Registrar”
	  	2.06

 SECTION 1.04.    Rules of Construction. In addition to Section 1.04 of the
Base Indenture, for all purposes of this First Supplemental Indenture: 
 (a)    capitalized terms used herein without
definition shall have the meanings specified in the Base Indenture; 
 (b)    all references herein to Articles and
Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this First Supplemental Indenture; 

  
 4 

 (c)    the terms “herein,” “hereof,”
“hereunder” and other words of similar import refer to this First Supplemental Indenture; and 
 (d)    in the
event of a conflict with the definition of terms in the Base Indenture, the definitions in this First Supplemental Indenture shall control. 

ARTICLE II 
 The Securities

 SECTION 2.01.    Form and Dating. This Section 2.01 applies to the Notes, but not to any other series
of securities issued under the Base Indenture. 
 (a)    General. The 2028 Notes shall be in the form of
Exhibit A hereto, and the 2048 Notes shall be in the form of Exhibit B hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. 

To the extent any provision of any Note conflicts with the express provisions of this First Supplemental Indenture, the provisions of this
First Supplemental Indenture shall govern and be controlling. 
 (b)    Global Notes. The Notes shall be issued
initially in the form of one or more permanent Global Notes in definitive, fully registered form without interest coupons and bearing the Global Notes Legend, which shall be deposited on behalf of the purchasers of the Notes represented thereby with
the Securities Custodian, and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as provided in this First Supplemental Indenture. The aggregate principal amount of
the Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee and on the schedules thereto as hereinafter provided. 

(c)    Book-Entry Provisions. This Section 2.01(c) shall apply only to a Global Note deposited with or on
behalf of the Depositary. 
 (i)    The Company shall execute and the Trustee shall, in accordance with
this Section 2.01(c) and Section 2.02 and pursuant to a Company Request, authenticate and deliver initially one or more Global Notes that (i) shall be registered in the name of the Depositary for such Global Note or Global Notes or
the nominee of such Depositary and (ii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instructions or held by the Trustee as Securities Custodian. 

(d)    Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this
First Supplemental Indenture with respect to any Global Note held on their behalf by the Depositary or by the Trustee as Securities Custodian or under such Global Note, and the Depositary may be treated by the Company, the Trustee and any agent of
the Company or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to
any written certification, proxy or 

  
 5 

 
other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices of such Depositary governing the exercise of the
rights of a holder of a beneficial interest in any Global Note. 
 (e)    Definitive Notes. Except as provided in
Section 2.04 or 2.05, owners of beneficial interests in Global Notes shall not be entitled to receive physical delivery of certificated Notes. 

SECTION 2.02.    Authentication. The aggregate principal amount of Notes that may be authenticated and delivered
under this Indenture is unlimited. The Trustee shall authenticate (i) the Initial 2028 Notes for original issue on the Issue Date in the aggregate principal amount of $500,000,000, (ii) the Initial 2048 Notes for original issue on the Issue
Date in the aggregate principal amount of $500,000,000 and (iii) Additional Notes for original issue from time to time after the Issue Date in such principal amounts as may be set forth in a Company Request which shall specify (a) the
amount of Notes to be authenticated and the date of original issue thereof, (b) whether the Notes are Initial Notes or Additional Notes; provided that the issuance of such Additional Notes shall be subject to Section 2.07 hereof and
(c) the amount of Notes to be issued in global form or definitive form. 
 The Trustee may appoint an authenticating agent acceptable
to the Company to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has
the same rights as an Agent to deal with Holders or an Affiliate of the Company. 
 SECTION 2.03.    Title of the
Notes; Maturity; Interest Rate; and Denomination of Notes. 
 (a)    There shall be a series of Notes designated the
3.800% Senior Notes due 2028 and there shall be a series of Notes designated the 4.500% Senior Notes due 2048. 

(b)    The principal of the 2028 Notes shall be payable on April 1, 2028. The principal of the 2048 Notes shall be
payable on April 1, 2048. 
 (c)    The 2028 Notes shall bear interest at the rate of 3.800% per annum and the 2048
Notes shall bear interest at the rate of 4.500% per annum, in each case from December 21, 2017 or the most recent April 1 or October 1 to which interest has been paid or duly provided for on the Notes of such series. Each April 1
and October 1 in each year, commencing April 1, 2018, shall be an “Interest Payment Date” for the Notes. 

(d)    The Notes shall be issuable in minimum denominations of $2,000 and multiples of $1,000 in excess thereof. 

SECTION 2.04.    Transfer and Exchange. The Notes shall be issued in registered form and shall be transferable only
upon the surrender of a Note for registration of transfer and in compliance with this Section 2.04. When a Note is presented to the Registrar or a co-registrar with a request to register a transfer, the
Registrar shall register the transfer as requested if the requirements of this First Supplemental Indenture and Section 8-401(a) of the New York 

  
 6 

 
Uniform Commercial Code are met. When Notes are presented to the Registrar or a co-registrar with a request to exchange them for an equal principal amount
of Notes of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. The Company shall not be required to make and the Registrar need not register transfers or exchanges of Notes selected for
redemption (except, in the case of Notes to be redeemed in part, the portion thereof not to be redeemed) or any Notes for a period of 15 days before a selection of Notes to be redeemed or 15 days before an interest payment date. 

(a)    Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a Global Note. A Definitive Note
may not be exchanged for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Note, duly endorsed or accompanied by a written instrument of transfer in form
reasonably satisfactory to the Company and the Registrar, together with written instructions directing the Trustee to make, or to direct the Securities Custodian to make, an adjustment on its books and records with respect to such Global Note to
reflect an increase in the aggregate principal amount of the Notes represented by the Global Note, such instructions to contain information regarding the Depositary account to be credited with such increase, then the Trustee shall cancel such
Definitive Note and cause, or direct the Securities Custodian to cause, in accordance with the standing instructions and procedures existing between the Depositary and the Securities Custodian, the aggregate principal amount of Notes represented by
the Global Note to be increased by the aggregate principal amount of the Definitive Note to be exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Global Note
equal to the principal amount of the Definitive Note so canceled. If no Global Notes are then outstanding and the Global Note has not been previously exchanged for certificated Notes pursuant to Section 2.05, the Company shall issue and the
Trustee shall authenticate, upon written order of the Company in the form of an Officer’s Certificate, a new Global Note in the appropriate principal amount. 

(b)    Transfer and Exchange of Global Notes. 

(i)    The transfer and exchange of Global Notes or beneficial interests therein shall be effected through
the Depositary, in accordance with this Indenture and the procedures of the Depositary therefor. A transferor of a beneficial interest in a Global Note shall deliver a written order given in accordance with the Depositary’s procedures
containing information regarding the participant account of the Depositary to be credited with a beneficial interest in such Global Note or another Global Note and such account shall be credited in accordance with such order with a beneficial
interest in the applicable Global Note and the account of the Person making the transfer shall be debited by an amount equal to the beneficial interest in the Global Note being transferred. 

(ii)    If the proposed transfer is a transfer of a beneficial interest in one Global Note to a beneficial
interest in another Global Note, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest is being transferred in an amount equal to the principal amount of the
interest to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global Note from which such interest is being transferred. 

  
 7 

 (iii)    Notwithstanding any other provisions of this First
Supplemental Indenture (other than the provisions set forth in Section 2.05), a Global Note may not be transferred as a whole except 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. 

(iv)    Any Holder of a Global Note shall, by acceptance of such Global Note, agree that transfers of
beneficial interest in such Global Note may be effected only through a book-entry system maintained by (a) the Holder of such Global Note (or its agent) or (b) any Holder of a beneficial interest in such Global Note, and that ownership of
a beneficial interest in such Global Note shall be required to be reflected in a book entry. 
 (c)    Cancellation
or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Definitive Notes, transferred, redeemed or cancelled, such Global Note shall be returned by the Depositary to the Trustee for
cancellation or retained and cancelled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes, transferred in exchange for an interest in another Global Note, redeemed or
canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Securities Custodian for such Global Note) with respect to such
Global Note, by the Trustee or the Securities Custodian, to reflect such reduction. 
 (d)    Obligations with
Respect to Transfers and Exchanges of Notes. Prior to the due presentation for registration of transfer of any Note, the Company, the Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a Note is registered as
the absolute owner of such Note for the purpose of receiving payment of principal of, premium, if any, on such Note and for all other purposes whatsoever, whether or not such Note is overdue, and none of the Company, the Trustee, the Paying Agent or
the Registrar shall be affected by notice to the contrary. 
 (e)    No Obligation of the Trustee. 

(i)    The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a
member of, or a participant in the Depositary or any other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with
respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All notices and
communications to be given to the Holders and all payments to be made to Holders under the Notes shall be given or made only to the registered Holders (which shall be the Depositary or its nominee in the case of a Global Note). The rights of
beneficial owners in any Global Note shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the
Depositary with respect to its members, participants and any beneficial owners. 

  
 8 

 (ii)    The Trustee shall have no obligation or duty to
monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this First Supplemental Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or
among Depositary participants, members or beneficial owners in any Global Note) other than to require delivery of such certificates, opinions and other documentation or evidence as are expressly required by, and to do so if and when expressly
required by, the terms of this First Supplemental Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

SECTION 2.05.    Definitive Notes. 

(a)    A Global Note deposited with the Depositary or with the Trustee as Securities Custodian pursuant to
Section 2.01 shall be transferred to the beneficial owners thereof in the form of Definitive Notes in an aggregate principal amount equal to the principal amount of such Global Note, in exchange for such Global Note, only if such transfer
complies with Section 2.04 and (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Note or if at any time the Depositary ceases to be a “clearing agency” registered
under the Exchange Act, and, in either case, a successor depositary is not appointed by the Company within 120 days of such notice or after the Company becomes aware of such event, or (ii) an Event of Default has occurred and is continuing or
(iii) the Company, in its sole discretion, notifies the Trustee in writing that it elects to cause the issuance of certificated Notes under this First Supplemental Indenture. 

(b)    Any Global Note that is transferable to the beneficial owners thereof pursuant to this Section 2.05 shall be
surrendered by the Depositary to the Trustee, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate and deliver, upon such transfer of each portion of such Global Note, an equal aggregate
principal amount of Definitive Notes of authorized denominations. Any portion of a Global Note transferred pursuant to this Section 2.05 shall be executed, authenticated and delivered only in denominations of $2,000 and whole multiples of
$1,000 thereof and registered in such names as the Depositary shall direct. 
 (c)    Subject to the provisions of
Section 2.05(b), the registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to
take under this First Supplemental Indenture or the Notes. 
 (d)    In the event of the occurrence of any of the events
specified in Section 2.05(a)(i), (ii) or (iii), the Company shall promptly make available to the Trustee a reasonable supply of Definitive Notes in fully registered form without interest coupons. 

(e)    The registered Holder of a Note will be treated as the owner of it for all purposes. Only registered Holders will
have rights under the Indenture. 

  
 9 

 SECTION 2.06.    Registrar and Paying Agent. 

(a)    The Company shall maintain an office or agency within the City and State of New York where Notes may be presented
for registration of transfer or for exchange (“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a register of the Notes and of their transfer
and exchange. The Company may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and
the term “Paying Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company shall promptly notify the Trustee in writing of the name and address of any Agent
not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 

(b)    The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with
respect to the Global Notes. The Trustee has been appointed by DTC to act as Note Custodian with respect to the Global Notes. 

(c)    The Company initially appoints the Trustee to act as the Registrar and Paying Agent. 

SECTION 2.07.    Additional Notes. The Company shall be entitled to issue Additional Notes under this Indenture
which shall have identical terms as the applicable Initial Notes issued on the Issue Date, other than with respect to the date of issuance and issue price and first payment of interest. With respect to any Additional Notes, the Company shall set
forth in a resolution of the Board of Directors and an Officer’s Certificate, a copy of each which shall be delivered to the Trustee, the following information: (a) the aggregate principal amount at maturity of such Additional Notes to be
authenticated and delivered pursuant to this Indenture and (b) the issue price, the issue date and the CUSIP number and corresponding ISIN of such Additional Notes. 

SECTION 2.08.    One Class of Notes. Each series of Initial Notes issued on the Issue Date and
any Additional Notes in respect thereof shall be treated as a single class for all purposes under this Indenture. 
 ARTICLE III 

Amendments and Supplements to Certain Sections of the Base Indenture 

SECTION 3.01.    Optional Redemption. This Section 3.01 applies to the Notes, but not to any other series of
securities issued under the Base Indenture. 
 (a)    The Company may redeem the Notes at its option at any time, either
in whole or in part, in the case of the 2028 Notes, prior to the 2028 Par Call Date, and in the case of the 2048 Notes, prior to the 2048 Par Call Date, at a redemption price equal to the greater of: 

(i)    100% of the principal amount of the Notes of that series to be redeemed; or 

  
 10 

 (ii)    the sum of the present values of the remaining
scheduled payments of principal and interest on the Notes to be redeemed that would be due but for the redemption of such Notes if such Notes matured on the 2028 Par Call Date with respect to the 2028 Notes and on the 2048 Par Call Date with respect
to the 2048 Notes (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at (x) the then-current Treasury Rate plus 25 basis points for the 2028 Notes and (y) the then current Treasury Rate plus 30 basis points for the 2048 Notes. 

In each case, the Company shall also pay accrued and unpaid interest on the principal amount being redeemed to, but not including, the date of
redemption. 
 (b)    If the 2028 Notes are redeemed on or after the 2028 Par Call Date, the Company shall pay a
redemption price equal to 100% of the principal amount of the 2028 Notes redeemed. If the 2048 Notes are redeemed on or after the 2048 Par Call Date, the Company shall pay a redemption price equal to 100% of the principal amount of the 2048 Notes
redeemed. The Company shall also pay accrued and unpaid interest on the principal amount being redeemed to, but not including, the date of redemption. 

SECTION 3.02.    Amendment, Supplement and Waiver. Subsection 9.01(m) of the Base indenture is deleted and replaced
with “[Reserved]”; “; and” is deleted at the end of Subsection 9.01(l) of the Base Indenture and replaced with “.”; and “and” is inserted at the end of Subsection 9.01(k) of the Base Indenture. 

SECTION 3.03.    Applicability. The provisions set forth in Sections 3.01 and 3.02 are applicable only to the Notes
established under this First Supplemental Indenture and are solely for the benefit of the Holders of the Notes. 
 ARTICLE IV 

Miscellaneous Provisions 

SECTION 4.01.    Ratification. The Base Indenture, as supplemented and amended by this First Supplemental
Indenture, is in all respects hereby adopted, ratified and confirmed. 
 SECTION 4.02.    Counterparts. This
First Supplemental Indenture may be executed in any number of counterparts, each of which when so executed shall be deemed an original, and all such counterparts shall together constitute but one and the same instrument. 

SECTION 4.03.    Concerning the Trustee. In carrying out the Trustee’s responsibilities under this First
Supplemental Indenture, the Trustee shall have all of the rights, protections and immunities which it possesses under the Base Indenture. The recitals contained herein and in the Notes, except the Trustee’s certificate of authentication, shall
be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this First Supplemental Indenture or of the Notes. The Trustee
shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof. 

  
 11 

 SECTION 4.04.    Governing Law. THIS FIRST SUPPLEMENTAL INDENTURE AND
EACH NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 [Signature page follows] 

  
 12 

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

			
	 ANDEAVOR

			
		
	 By:
	 	 /s/ Stephan E. Tompsett

		 	 Stephan E. Tompsett

		 	 Vice President and Treasurer

  
 [Signature page to First
Supplemental Indenture] 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 
			
		
	By:	 	 /s/ James Kowalski

		 	James Kowalski
		 	Vice President

  
 [Signature page to First
Supplemental Indenture] 

 EXHIBIT A 

[FORM OF FACE OF INITIAL NOTE] 

[Insert the Global Notes Legend, as applicable, pursuant to the terms of the First Supplemental Indenture] 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE), TO ANDEAVOR
OR ANY SUCCESSOR THERETO OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED
TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

  
 A-1 

 CUSIP: 03349M AA3 

ISIN: US03349MAA36 
 3.800% Senior
Notes due 2028 
 No.                      

Principal Amount at Maturity: U.S.
$                     
 ANDEAVOR 

Andeavor, a Delaware corporation (the “Company”), promises to pay to
                , or registered assigns, the principal sum of FIVE HUNDRED MILLION Dollars on April 1, 2028 [or such greater or lesser amount as may be indicated on
Schedule A hereto].1 
 Interest Payment Dates: April 1 and October 1, commencing on
April 1, 2018. 
 Record Dates: March 15 and September 15. 

Additional provisions of this Note are set forth on the other side of this Note. 

 

	1 	If this Note is a Global Note, include this provision. 

  
 A-2 

 
			
	ANDEAVOR

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-3 

 This is one of the Global Notes referred to in the 

within-mentioned Indenture: 
 U.S. BANK NATIONAL ASSOCIATION, as
Trustee 
  

							
	 By:
	 	  
	  	 Dated:
	 	  

		 	     Authorized Signatory
	  		 	

  
 A-4 

 (Back of Note) 

3.800% Senior Notes due 2028 
 Capitalized terms
used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 1. Interest.
Andeavor, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this 2028 Note at 3.800% per annum until maturity. The Company will pay interest semi-annually in arrears on April 1 and
October 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the 2028 Notes will accrue from the most recent date to which interest has
been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this 2028 Note is authenticated between a record date referred to on the face
hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of the 2028 Notes, in which case interest shall accrue from date of
authentication; provided, further, that the first Interest Payment Date shall be April 1, 2018. The Company shall pay interest (including post-petition interest in any proceeding under the Bankruptcy Code) on overdue principal and
premium, if any, from time to time on demand at the rate borne on the 2028 Notes; it shall pay interest (including post-petition interest in any proceeding under the Bankruptcy Code) on overdue installments of interest, if any, (without regard to
any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve
30-day months. 
 2. Method of Payment. The Company will pay interest on the 2028 Notes
(except defaulted interest) to the Persons who are registered Holders of the 2028 Notes at the close of business on the March 15 and September 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record
date and on or before such Interest Payment Date, except as provided in Section 2.13 of the Base Indenture (as defined below) with respect to defaulted interest. The 2028 Notes will be payable as to principal, premium and
interest at the office or agency of the Company maintained for such purpose within the City and State of New York, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the
register of Holders, and provided that payment by wire transfer of immediately available funds will be required with respect to principal of, and interest and premium on, all Global Notes and all other 2028 Notes the Holders of which shall
have provided wire transfer instructions to the Company or the Paying Agent. Such payment shall be 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. 

3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and
Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

  
 A-5 

 4. Indenture. The Company issued the 2028 Notes pursuant to an Indenture dated as of
December 21, 2017 among the Company and the Trustee (the “Base Indenture”) as supplemented by the First Supplemental Indenture dated as of December 21, 2017 (the “First Supplemental Indenture” and,
together with the Base Indenture, the “Indenture”) among the Company and the Trustee, as the same may be amended, modified or supplemented from time to time. The terms of the 2028 Notes include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The 2028 Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a
statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The 2028 Notes are unsecured obligations of the Company. 

5. Optional Redemption. (a) The Company may redeem the 2028 Notes at its option at any time, either in whole or in part, prior to
January 1, 2028 (the “Par Call Date”), at a redemption price equal to the greater of: 

(i)    100% of the principal amount of the 2028 Notes to be redeemed; or 

(ii)    the sum of the present values of the remaining scheduled payments of principal and interest on the
2028 Notes to be redeemed that would be due but for the redemption of such notes if such notes matured on the Par Call Date (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the then-current Treasury Rate plus 25 basis points for the 2028 Notes. 

(b)    The Company will also pay accrued and unpaid interest on the principal amount being redeemed to, but not including,
the date of redemption. 
 (c)    If the 2028 Notes are redeemed on or after the Par Call Date, the Company will pay a
redemption price equal to 100% of the principal amount of the 2028 Notes to be redeemed. The Company will also pay accrued and unpaid interest on the principal amount being redeemed to, but not including, the date of redemption. 

(d)    Once notice of redemption is mailed in accordance with Section 3.04 of the Base
Indenture, the 2028 Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. Notwithstanding the foregoing, notice of any redemption of the 2028 Notes may, at the Company’s discretion, be
given prior to the completion thereof and be subject to one or more conditions precedent, including, but not limited to, completion of a change of control or financing transaction. In addition, if such redemption is subject to satisfaction of one or
more conditions precedent, such notice shall state that, in the Company’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be
rescinded by the Company in the event that any or all such conditions shall not have been satisfied by the 

  
 A-6 

 
redemption date, or by the redemption date so delayed. In addition, the Company may provide in such notice that payment of the redemption price and performance of the Company’s obligations
with respect to such redemption may be performed by another Person. The Company shall notify the Trustee in writing promptly upon the satisfaction or failure of any condition precedent to any redemption or notice of redemption. 

6. Notice of Redemption. Notice of redemption will be mailed at least 10 days but except as set forth in
Section 3.04 of the Base Indenture not more than 60 days before the redemption date to each Holder whose 2028 Notes are to be redeemed at its registered address. The 2028 Notes in denominations larger than $2,000 may be
redeemed in part in whole multiples of $1,000; provided that the unredeemed principal amount of such Notes is not less than $2,000. On and after the redemption date, interest ceases to accrue on the 2028 Notes or portions thereof called for
redemption. 
 7. Denominations, Transfer, Exchange. The 2028 Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of 2028 Notes may be registered and 2028 Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any 2028 Note
or portion of a 2028 Note selected for redemption, except for the unredeemed portion of any 2028 Note being redeemed in part. Also, it need not exchange or register the transfer of any 2028 Notes for a period of 15 days before a selection of 2028
Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 
 8. Persons Deemed
Owners. The registered Holder of a 2028 Note shall be treated as its owner for all purposes. 
 9. Amendment, Supplement and
Waiver. Subject to certain exceptions, the Indenture and the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes of all series of Notes under the
Indenture that are affected by the amendment or supplement, voting as one class, and any existing default or compliance with any provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority in aggregate
principal amount of the then outstanding Notes of all series of Notes under the Indenture that are affected by such waiver, voting as a class. Without the consent of any Holder of a Note, the Indenture or the Notes may be amended or supplemented to
cure any ambiguity, defect or inconsistency; to provide for uncertificated Notes in addition to or in place of certificated Notes; to provide for the assumption of the Company’s Obligations to Holders of Notes in the case of a merger or
consolidation or sale of all or substantially all of the Company’s assets, including the addition of any required co-issuer of Notes; to make any change that would provide any additional rights or
benefits to the Holders of Notes or that does not adversely affect the legal rights of any Holders under the Indenture; to comply with requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA; to
evidence 

  
 A-7 

 
or provide for the acceptance of appointment of a successor Trustee or to add any additional Events of Default; to secure the Notes or provide for any guarantee of the Notes; to conform the text
of the Indenture or the Notes to any provision of the Description of the Notes section of the Prospectus to the extent that such provision in the Description of the Notes was intended to be a recitation of a provision of the Indenture or the Notes;
to provide for Additional Notes; or to comply with the rules of any applicable securities depositary. 
 10. Defaults and Remedies.
Events of Default include: (a) default in the payment when due of interest on the 2028 Notes and such default continues for a period of 30 days; (b) default in the payment when due of principal of, or premium, if any, on, the 2028 Notes;
(c) failure by the Company to comply with any of the provisions of Section 5.01 of the Base Indenture and such failure continues for 30 days after written notice is given to the Company as provided in the Indenture;
(d) failure by the Company to comply with Section 4.03 of the Base Indenture and such failure continues for 120 days after written notice is given to the Company as provided in the Indenture; (e) failure by the
Company or any of its Restricted Subsidiaries to comply with any other agreement in the Indenture or 2028 Notes (other than a failure that is subject to clause (a), (b), (c) or (d) above) and such failure continues for 90 days after written
notice is given to the Company as provided in the Indenture; (f) a default occurs under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by
the Company (or the payment of which is guaranteed by the Company), whether such Indebtedness or guarantee now exists, or is created after the Issue Date, which default (i) is caused by a failure to pay principal of or premium, if any, or
interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (a “Payment Default”) or (ii) results in the acceleration of such Indebtedness prior to its express maturity and, in each
case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates without duplication
$250.0 million or more, and such default shall not have been cured or waived or any such acceleration rescinded, or such Indebtedness is repaid, within 10 Business Days after the running of such grace period or the occurrence of such
acceleration; or (g) certain events of bankruptcy or insolvency with respect to the Company. A Default under clause (c), (d) or (e) above will not be an Event of Default with respect to a series of Notes until the Trustee or the Holders of
not less than 25% in the aggregate principal amount of the then-outstanding Notes of such series provides written notice to the Company of the Default and the Company does not cure such Default within the specified time after receipt of such notice.
If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding of a series, voting as a single class, may declare all the Notes of such series to be due and
payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will become due and payable without further action or notice. Holders may not
enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes of such series may direct the Trustee in its exercise of any
trust or power with respect to the Notes with 

  
 A-8 

 
respect to such series. The Trustee may withhold from Holders of the Notes of any series notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the
payment of principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Notes of a series then outstanding by notice to the Trustee may on behalf of the Holders
of all of the Notes of such series waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, the Notes of any series.
In the case of an Event of Default specified in clause (f) of this paragraph, such Event of Default and all consequences thereof (excluding, however, any resulting payment default) will be annulled, waived and rescinded with respect to the 2028
Notes, automatically and without any action by the Trustee or the Holders of the 2028 Notes, if within 60 days after such Event of Default first arose the Company delivers an Officer’s Certificate to the Trustee stating that (1) the
Indebtedness or guarantee that is the basis for such Event of Default has been discharged or (2) the holders of the Indebtedness have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of
Default or (3) the default that is the basis for such Event of Default has been cured; provided, however, that in no event shall an acceleration of the principal amount of such Notes as described above be annulled, waived or rescinded upon the
happening of any such events. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the
Trustee a statement specifying such Default or Event of Default. 
 11. Trustee Dealings with Company. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and perform services for, the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

12. No Recourse Against Others. A director, officer, employee, manager, incorporator, partner, member or stockholder of the Company or
any Subsidiary of the Company, as such, shall not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

13. Authentication. This Note shall not be valid until authenticated by the manual signature of a Responsible Officer of the Trustee or
an authenticating agent. 
 14. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as:
TEN COM (=tenants in common), TEN ENT (= tenants by the entireties), JT TEN (Joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

  
 A-9 

 15. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the 2028 Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

16. Governing Law. THE INDENTURE AND THE 2028 NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK. 
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests
may be made to: 
 Andeavor 

19100 Ridgewood Parkway 
 San
Antonio, Texas 78259 
 Attention: General Counsel 

  
 A-10 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to 
 (Print or type assignee’s name, address and zip code) 

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

and irrevocably appoint                     agent to
transfer this Note 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 other side of this Note. Signature must be guaranteed by a participant in a recognized signature guaranty medallion
program or other signature guarantor acceptable to the Trustee. 

  
 A-11 

 SCHEDULE A 

EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*** 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

																	
	 Date of Exchange
	  	Amount of decrease
in Amount of this
Global Note	 	  	Amount of increase
in Principal
Amount of this
Global Note	 	  	Principal Amount
of this Global Note
following such
decrease (or
increase)	 	  	Signature of
authorized Trustee
or Note Custodian	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  

	***	This Schedule should be included only if the Note is issued in global form. 

  
 A-12 

 EXHIBIT B 

[FORM OF FACE OF INITIAL NOTE] 

[Insert the Global Notes Legend, as applicable, pursuant to the terms of the First Supplemental Indenture] 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE), TO ANDEAVOR
OR ANY SUCCESSOR THERETO OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED
TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

  
 B-1 

 CUSIP: 03349M AB1 

ISIN: US03349MAB19 
 4.500% Senior
Notes due 2048 
 No.                      

Principal Amount at Maturity: U.S. $             

ANDEAVOR 
 Andeavor, a Delaware corporation (the
“Company”), promises to pay to                     , or registered assigns, the principal sum of FIVE HUNDRED MILLION Dollars on
April 1, 2048 [or such greater or lesser amount as may be indicated on Schedule A hereto].2 

Interest Payment Dates: April 1 and October 1, commencing on April 1, 2018. 

Record Dates: March 15 and September 15. 
 Additional
provisions of this Note are set forth on the other side of this Note. 
  

	2 	If this Note is a Global Note, include this provision. 

  
 B-2 

 
			
	ANDEAVOR

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-3 

 This is one of the Global Notes referred to in the 

within-mentioned Indenture: 
 U.S. BANK NATIONAL ASSOCIATION, as
Trustee 
  

							
	 By:
	 	  
	 	 Dated:
	  	  

		 	  Authorized Signatory	 		  	

  
 B-4 

 (Back of Note) 

4.500% Senior Notes due 2048 
 Capitalized terms
used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 1. Interest.
Andeavor, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this 2048 Note at 4.500% per annum until maturity. The Company will pay interest semi-annually in arrears on April 1 and
October 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the 2048 Notes will accrue from the most recent date to which interest has
been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this 2048 Note is authenticated between a record date referred to on the face
hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of the 2048 Notes, in which case interest shall accrue from date of
authentication; provided, further, that the first Interest Payment Date shall be April 1, 2018. The Company shall pay interest (including post-petition interest in any proceeding under the Bankruptcy Code) on overdue principal and
premium, if any, from time to time on demand at the rate borne on the 2048 Notes; it shall pay interest (including post-petition interest in any proceeding under the Bankruptcy Code) on overdue installments of interest, if any, (without regard to
any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve
30-day months. 
 2. Method of Payment. The Company will pay interest on the 2048 Notes
(except defaulted interest) to the Persons who are registered Holders of the 2048 Notes at the close of business on the March 15 and September 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record
date and on or before such Interest Payment Date, except as provided in Section 2.13 of the Base Indenture (as defined below) with respect to defaulted interest. The 2048 Notes will be payable as to principal, premium and
interest at the office or agency of the Company maintained for such purpose within the City and State of New York, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the
register of Holders, and provided that payment by wire transfer of immediately available funds will be required with respect to principal of, and interest and premium on, all Global Notes and all other 2048 Notes the Holders of which shall
have provided wire transfer instructions to the Company or the Paying Agent. Such payment shall be 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. 

3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and
Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

  
 B-5 

 4. Indenture. The Company issued the 2048 Notes pursuant to an Indenture dated as of
December 21, 2017 among the Company and the Trustee (the “Base Indenture”) as supplemented by the First Supplemental Indenture dated as of December 21, 2017 (the “First Supplemental Indenture” and,
together with the Base Indenture, the “Indenture”) among the Company and the Trustee, as the same may be amended, modified or supplemented from time to time. The terms of the 2048 Notes include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The 2048 Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a
statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The 2048 Notes are unsecured obligations of the Company. 

5. Optional Redemption. (a) The Company may redeem the 2048 Notes at its option at any time, either in whole or in part, prior to
October 1, 2047 (the “Par Call Date”), at a redemption price equal to the greater of: 

(i)    100% of the principal amount of the 2048 Notes to be redeemed; or 

(ii)    the sum of the present values of the remaining scheduled payments of principal and interest on the
2048 Notes to be redeemed that would be due but for the redemption of such notes if such notes matured on the Par Call Date (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the then-current Treasury Rate plus 30 basis points for the 2048 Notes. 

(b)    The Company will also pay accrued and unpaid interest on the principal amount being redeemed to, but not including,
the date of redemption. 
 (c)    If the 2048 Notes are redeemed on or after the Par Call Date, the Company will pay a
redemption price equal to 100% of the principal amount of the 2048 Notes to be redeemed. The Company will also pay accrued and unpaid interest on the principal amount being redeemed to, but not including, the date of redemption 

(d)    Once notice of redemption is mailed in accordance with Section 3.04 of the Base
Indenture, the 2048 Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. Notwithstanding the foregoing, notice of any redemption of the 2048 Notes may, at the Company’s discretion, be
given prior to the completion thereof and be subject to one or more conditions precedent, including, but not limited to, completion of a change of control or financing transaction. In addition, if such redemption is subject to satisfaction of one or
more conditions precedent, such notice shall state that, in the Company’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be
rescinded by the Company in the event that any or all such conditions shall not have been satisfied by the 

  
 B-6 

 
redemption date, or by the redemption date so delayed. In addition, the Company may provide in such notice that payment of the redemption price and performance of the Company’s obligations
with respect to such redemption may be performed by another Person. The Company shall notify the Trustee in writing promptly upon the satisfaction or failure of any condition precedent to any redemption or notice of redemption. 

6. Notice of Redemption. Notice of redemption will be mailed at least 10 days but except as set forth in
Section 3.04 of the Base Indenture not more than 60 days before the redemption date to each Holder whose 2048 Notes are to be redeemed at its registered address. The 2048 Notes in denominations larger than $2,000 may be
redeemed in part in whole multiples of $1,000; provided that the unredeemed principal amount of such Notes is not less than $2,000. On and after the redemption date, interest ceases to accrue on the 2048 Notes or portions thereof called for
redemption. 
 7. Denominations, Transfer, Exchange. The 2048 Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of 2048 Notes may be registered and 2048 Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any 2048 Note
or portion of a 2048 Note selected for redemption, except for the unredeemed portion of any 2048 Note being redeemed in part. Also, it need not exchange or register the transfer of any 2048 Notes for a period of 15 days before a selection of 2048
Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 
 8. Persons Deemed
Owners. The registered Holder of a 2048 Note shall be treated as its owner for all purposes. 
 9. Amendment, Supplement and
Waiver. Subject to certain exceptions, the Indenture and the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes of all series of Notes under the
Indenture that are affected by the amendment or supplement, voting as one class, and any existing default or compliance with any provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority in aggregate
principal amount of the then outstanding Notes of all series of Notes under the Indenture that are affected by such waiver, voting as a class. Without the consent of any Holder of a Note, the Indenture or the Notes may be amended or supplemented to
cure any ambiguity, defect or inconsistency; to provide for uncertificated Notes in addition to or in place of certificated Notes; to provide for the assumption of the Company’s Obligations to Holders of Notes in the case of a merger or
consolidation or sale of all or substantially all of the Company’s assets, including the addition of any required co-issuer of Notes; to make any change that would provide any additional rights or
benefits to the Holders of Notes or that does not adversely affect the legal rights of any Holders under the Indenture; to comply with requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA; to
evidence 

  
 B-7 

 
or provide for the acceptance of appointment of a successor Trustee or to add any additional Events of Default; to secure the Notes or provide for any guarantee of the Notes; to conform the text
of the Indenture or the Notes to any provision of the Description of the Notes section of the Prospectus to the extent that such provision in the Description of the Notes was intended to be a recitation of a provision of the Indenture or the Notes;
to provide for Additional Notes; or to comply with the rules of any applicable securities depositary. 
 10. Defaults and Remedies.
Events of Default include: (a) default in the payment when due of interest on the 2048 Notes and such default continues for a period of 30 days; (b) default in the payment when due of principal of, or premium, if any, on, the 2048 Notes;
(c) failure by the Company to comply with any of the provisions of Section 5.01 of the Base Indenture and such failure continues for 30 days after written notice is given to the Company as provided in the Indenture;
(d) failure by the Company to comply with Section 4.03 of the Base Indenture and such failure continues for 120 days after written notice is given to the Company as provided in the Indenture; (e) failure by the
Company or any of its Restricted Subsidiaries to comply with any other agreement in the Indenture or 2048 Notes (other than a failure that is subject to clause (a), (b), (c) or (d) above) and such failure continues for 90 days after written
notice is given to the Company as provided in the Indenture; (f) a default occurs under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by
the Company (or the payment of which is guaranteed by the Company), whether such Indebtedness or guarantee now exists, or is created after the Issue Date, which default (i) is caused by a failure to pay principal of or premium, if any, or
interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (a “Payment Default”) or (ii) results in the acceleration of such Indebtedness prior to its express maturity and, in each
case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates without duplication
$250.0 million or more, and such default shall not have been cured or waived or any such acceleration rescinded, or such Indebtedness is repaid, within 10 Business Days after the running of such grace period or the occurrence of such
acceleration; or (g) certain events of bankruptcy or insolvency with respect to the Company. A Default under clause (c), (d) or (e) above will not be an Event of Default with respect to a series of Notes until the Trustee or the Holders of
not less than 25% in the aggregate principal amount of the then-outstanding Notes of such series provides written notice to the Company of the Default and the Company does not cure such Default within the specified time after receipt of such notice.
If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding of a series, voting as a single class, may declare all the Notes of such series to be due and
payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will become due and payable without further action or notice. Holders may not
enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes of such series may direct the Trustee in its exercise of any
trust or power with respect to the Notes with 

  
 B-8 

 
respect to such series. The Trustee may withhold from Holders of the Notes of any series notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the
payment of principal or interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Notes of a series then outstanding by notice to the Trustee may on behalf of the Holders
of all of the Notes of such series waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest on, or the principal of, the Notes of any series.
In the case of an Event of Default specified in clause (f) of this paragraph, such Event of Default and all consequences thereof (excluding, however, any resulting payment default) will be annulled, waived and rescinded with respect to the 2048
Notes, automatically and without any action by the Trustee or the Holders of the 2048 Notes, if within 60 days after such Event of Default first arose the Company delivers an Officer’s Certificate to the Trustee stating that (1) the
Indebtedness or guarantee that is the basis for such Event of Default has been discharged or (2) the holders of the Indebtedness have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of
Default or (3) the default that is the basis for such Event of Default has been cured; provided, however, that in no event shall an acceleration of the principal amount of such Notes as described above be annulled, waived or rescinded upon the
happening of any such events. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the
Trustee a statement specifying such Default or Event of Default. 
 11. Trustee Dealings with Company. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and perform services for, the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

12. No Recourse Against Others. A director, officer, employee, manager, incorporator, partner, member or stockholder of the Company or
any Subsidiary of the Company, as such, shall not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

13. Authentication. This Note shall not be valid until authenticated by the manual signature of a Responsible Officer of the Trustee or
an authenticating agent. 
 14. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as:
TEN COM (=tenants in common), TEN ENT (= tenants by the entireties), JT TEN (Joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

  
 B-9 

 15. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the 2048 Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

16. Governing Law. THE INDENTURE AND THE 2048 NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 
 The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to: 
 Andeavor 

19100 Ridgewood Parkway 
 San
Antonio, Texas 78259 
 Attention: General Counsel 

  
 B-10 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to 
 (Print or type assignee’s name, address and zip code) 

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

and irrevocably appoint                     agent to
transfer this Note 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 other side of this Note. Signature must be guaranteed by a participant in a recognized signature guaranty medallion
program or other signature guarantor acceptable to the Trustee. 

  
 B-11 

 SCHEDULE A 

EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*** 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Amount of this
Global Note	  	Amount of increase
in Principal
Amount of this
Global Note	  	Principal Amount
of this Global Note
following such
decrease (or
increase)	  	Signature of
authorized Trustee
or Note Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	***	This Schedule should be included only if the Note is issued in global form. 

  
 B-12

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