Document:

Exhibit

Exhibit 10.1

REALNETWORKS, INC.

SERIES B PREFERRED STOCK PURCHASE AGREEMENT
 
This Series B Preferred Stock Purchase Agreement (this “Agreement”) is made and entered into as of February 10, 2020 (the “Effective Date”), by and between RealNetworks, Inc., a Washington corporation (the “Company”), and Robert Glaser (the “Purchaser”). Certain terms used and not otherwise defined in the text of this Agreement are defined in Section 9 hereof.
 
RECITALS
 
WHEREAS, the Company and the Purchaser are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”), and Rule 506 of Regulation D promulgated by the United States Securities and Exchange Commission (the “Commission”) under the 1933 Act; and
 
WHEREAS, the Company desires to sell to the Purchaser, and the Purchaser desires to purchase from the Company, 8,064,516 shares of Series B Preferred Stock, par value $0.001 per share (the “Series B Preferred Stock”), having the relative rights, preferences, limitations and powers set forth in the certificate of designation attached hereto as Exhibit A (the “Certificate of Designation”), in accordance with the terms and provisions of this Agreement.

NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants herein contained, the parties hereby agree as follows:
 
SECTION 1.      Agreement to Sell and Purchase.  

1.1     Authorization of Shares.  The Company has authorized the creation, sale and issuance of shares of Series B Preferred Stock on the terms and subject to the conditions set forth in this Agreement. The shares of Series B Preferred Stock sold hereunder at the Closing (as defined below) shall be referred to as the “Shares.”
  
1.2     Sale and Purchase.  Upon the terms and subject to the conditions herein contained, the Company agrees to sell and issue to the Purchaser, and the Purchaser agrees to purchase and receive from the Company on the Closing Date, that number of Shares set forth opposite such Purchaser’s name on the Schedule of Purchasers, at a purchase price of $1.24 per share, which shall be equal to the Nasdaq Price of the Company’s common stock, par value $0.001 per share (the “Common Stock”), as of the Effective Date.  

SECTION 2.     Closing, Delivery and Payment. 

2.1         Closing.  The closing of the sale and purchase of the Shares under this Agreement (the “Closing”) shall take place at 1:00 p.m. on February 10, 2020 (such date is hereinafter referred to as the “Closing Date”), which shall be no later than the fifth (5th) Business 

Day after satisfaction or waiver of all of the conditions set forth in Section 6 of this Agreement (other than the conditions which can be satisfied only on the Closing Date but subject to satisfaction thereof) at the offices of Wilson Sonsini Goodrich & Rosati, P.C. (“Wilson Sonsini”), 701 Fifth Avenue, Suite 5100, Seattle, WA 98104 or at such other time or place as the Company and the Purchaser may mutually agree.
  
2.2         Delivery.  At the Closing, subject to the terms and conditions hereof, the Company will deliver to the Purchaser, if applicable, a certificate representing the number of Shares to be purchased at the Closing by such Purchaser, against payment of the purchase price therefor by check or wire transfer of immediately available funds made by the Purchaser and payable to the order of the Company.    

SECTION 3.     Representations and Warranties of the Purchaser. The Purchaser represents and warrants to the Company that the statements contained in this Section 3 are true and correct as of the date hereof as though made on and as of the Closing Date:
 
3.1         Validity. The execution, delivery and performance of this Agreement and the consummation by the Purchaser of the transactions contemplated hereby have been duly authorized by all necessary corporate, partnership, limited liability or similar actions, as applicable, on the part of such Purchaser. All action on the part of Purchaser necessary for the authorization, execution, delivery and performance of this Agreement, and the performance of all of the Purchaser’s obligations under this Agreement, has been taken or will be taken prior to the Closing Date. This Agreement has been duly executed and delivered by the Purchaser and constitutes a valid and binding legal obligation of the Purchaser, enforceable against it in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors’ rights generally, and as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies (the “Enforceability Exception”).
 
3.2         Brokers. There is no broker, investment banker, financial advisor, finder or other Person which has been retained by or is authorized to act on behalf of the Purchaser who might be entitled to any fee, commission or other remuneration for which the Company will be liable in connection with the execution of this Agreement and the consummation of the transactions contemplated hereby. Neither the Purchaser, nor any of his employees, agents or partners has (a) engaged in any general solicitation, or (b) published any advertisement in connection with the offer and sale of the Shares.
 
3.3         Investment Representations and Warranties. The Purchaser understands and agrees that the offering and sale of the Shares has not been registered under the 1933 Act or any applicable state securities laws and is being made in reliance upon federal and state exemptions for transactions not involving a public offering that depend upon, among other things, the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser has complied with all applicable federal and state laws and regulations with respect to the Purchaser’s current equity holdings in the Company. The Purchaser has made all filings, disclosures and reports necessary and proper for the Purchaser as required under the 1934 

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Act and represents and warrants that, as of the date of each such applicable filing, disclosure and report, all information therein included is complete and correct and there is no false or misleading statement of material fact or omission of a material fact required to be stated therein or necessary to have made the statements therein complete and correct as of such date.
 
3.4         Acquisition for Own Account; No Control Intent. This Agreement is made with the Purchaser in reliance upon the Purchaser’s representation to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Purchaser is acquiring the Shares for its own account for investment, not as a nominee or agent, and not with a view towards the resale or distribution of any part thereof in a manner that would violate the 1933 Act or any applicable state or other securities laws. The Purchaser is not party to any agreement, contract, undertaking or arrangement with any Person providing for or contemplating the sale, transfer, granting of participations in, or distribution of any of the Shares to such Person or any other third person. The Purchaser has no present intent to sell, grant any participation in or otherwise distribute the Shares, or to effect a “change of control” of the Company as such term is understood under the rules promulgated pursuant to Section 13(d) of the 1934 Act.
 
3.5         Ability to Protect Purchaser’s Own Interests and Bear Economic Risks. The Purchaser has the capacity to protect Purchaser’s own interests in connection with the transactions contemplated by this Agreement and is capable of evaluating the merits and risks of the investment in the Shares. The Purchaser is able to bear the economic risk of an investment in the Shares and is able to sustain a loss of all of Purchaser’s investment in the Shares without economic hardship, if such a loss should occur.
 
3.6         Accredited Investor; No Bad Actor. The Purchaser is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D under the 1933 Act. Such Purchaser has not taken any of the actions set forth in, and is not subject to, the disqualification provisions of Rule 506(d)(1) of the 1933 Act. 
 
3.7         Restricted Securities.  The Purchaser understands that the Shares are characterized as “restricted securities” under the federal and state securities laws inasmuch as they are being acquired from the Company in a private placement under Section 4(a)(2) of the 1933 Act and that under such laws and applicable regulations such Shares may be resold without registration under the 1933 Act only in certain limited circumstances, absent which the Purchaser must hold the Shares indefinitely unless they are registered with the Commission and qualified by state authorities, or an exemption from such registration and qualification requirements is available. The Purchaser acknowledges that the Company has no obligation to register or qualify the Shares for resale.  The Purchaser further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the Shares, and on requirements relating to the Company which are outside of the Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy. 

3.8         Tax Advisors; Disclosure of Information. The Purchaser has had the opportunity to review with the Purchaser’s own tax advisors the federal, state and local tax 

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consequences of its purchase of the Shares, where applicable, and the transactions contemplated by this Agreement. The Purchaser is relying solely on the Purchaser’s own determination as to tax consequences or the advice of such tax advisors and not on any statements or representations of the Company or any of its agents and understands that the Purchaser (and not the Company) shall be responsible for the Purchaser’s own tax liability that may arise as a result of the transactions contemplated by this Agreement. 

3.9    Required Filings and Consents. The execution and delivery by the Purchaser of this Agreement does not, and the performance by the Purchaser of his covenants and agreements under this Agreement and the consummation by the Purchaser of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach of the terms, conditions or the provisions of, (ii) constitute a default under, (iii) result in the creation of any lien, pledge, hypothecation, charge, mortgage, security interest, encumbrance, claim, interference, option, right of first refusal, preemptive right, community property interest or restriction of any nature upon the Purchaser’s assets pursuant to, (iv) give any third party the right to terminate or to accelerate any obligation under, (v) result in a violation of or (vi) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with (except to the extent already obtained) any court or other governmental body or agency under, any law, statute, rule or regulation to which the Purchaser is subject, or any agreement, mortgage, lease, indenture, instrument, Order, judgment or decree to which the Purchaser is subject.  No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any Governmental Entity is necessary or required for the performance by the Purchaser of his obligations hereunder, in connection with the execution and delivery of this Agreement by the Purchaser or the performance of the Purchaser’s obligations hereunder or thereunder.

SECTION 4.       Representations and Warranties by the Company. Assuming the accuracy of the representations and warranties of the Purchaser set forth in Section 3 and except as set forth in the reports, schedules, forms, statements and other documents filed by the Company with the Commission pursuant to the 1934 Act (collectively, the “SEC Reports”), which disclosures serve to qualify these representations and warranties in their entirety, the Company represents and warrants to the Purchaser that the statements contained in this Section 4 are true and correct as of the date hereof as though made on and as of the Closing Date: 
 
4.1         SEC Reports. The Company has timely filed all of the SEC Reports required to be filed by the Company with the Commission pursuant to the reporting requirements of the 1934 Act. The SEC Reports, at the time they were filed with the Commission, (i) complied as to form in all material respects with the requirements of the 1934 Act and the 1934 Act Regulations and (ii) included all requisite certifications as to the existence of any untrue statement of a material fact or omissions of having stated a material fact required to be stated therein or necessary to have made the statements therein, in the light of the circumstances under which they were made, not misleading, clauses (i) and (ii) hereof which, to the knowledge of the Company as of the date hereof, are true and correct as of such time. 

4.2         Financial Statements; Non-GAAP Financial Measures. The consolidated financial statements included or incorporated by reference in the SEC Reports, together with the 

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related notes, present fairly, in all material respects, the financial position of the Company and its consolidated subsidiaries at the dates indicated and the statement of operations, stockholders’ equity and cash flows of the Company and its consolidated subsidiaries for the periods specified; said financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) applied on a consistent basis throughout the periods involved, except in the case of unaudited, interim financial statements, subject to normal year-end audit adjustments and the exclusion of certain footnotes. 
 
4.3         Good Standing of the Company. The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Washington and has all requisite corporate power and authority (a) to own, lease and operate its properties and to conduct its business as presently conducted and (b) to enter into, execute, deliver and perform its obligations under this Agreement and all other documents, agreements, contracts or instruments contemplated or required hereby.
 
4.4         Capitalization. The Company has an authorized capitalization as described in the SEC Reports. The outstanding shares of capital stock of the Company have been duly authorized and validly issued and are fully paid and non-assessable. None of the outstanding shares of capital stock of the Company were issued in violation of the preemptive or other similar rights of any securityholder of the Company that have not been waived.
 
4.5         Validity. This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding obligation of the Company, enforceable against it in accordance with its terms, except as limited by the Enforceability Exception.

4.6         Authorization and Description of Securities. Upon the filing of the Certificate of Designation with the Secretary of State of the State of Washington, the Series B Preferred Stock will have been duly and validly authorized and, when issued and paid for pursuant to this Agreement, will be validly issued, fully paid and nonassessable, and shall be free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in the Company’s Amended and Restated Articles of Incorporation as in effect as of the date hereof (the “Articles”)or imposed by applicable securities laws.  The Series B Conversion Shares have been validly reserved for issuance and upon the due conversion of the Series B Preferred Stock, the Series B Conversion Shares will be validly issued, fully paid and non-assessable free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in this Agreement or imposed by applicable securities laws.  
 
4.7         Absence of Violations, Defaults and Conflicts. Neither the Company nor any of its subsidiaries is (a) in violation of its charter, bylaws or similar organizational document, , (b) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which it or any of them may be bound (collectively, “Agreements and Instruments”), except for such defaults that would not, singly or in the aggregate, reasonably be expected to result in a material adverse change in the condition, financial or otherwise, or in the earnings of the Company and its subsidiaries considered as one enterprise, arising in the ordinary course of business (a “Material 

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Adverse Effect”), or (c) to the knowledge of the Company, in violation of any instrument, law, statute, rule, regulation, judgment, order, writ or decree of any arbitrator, court, governmental body, regulatory body, administrative agency or other authority, body or agency having jurisdiction over the Company or any of its subsidiaries or any of their respective properties, assets or operations (each, a “Governmental Entity”), except for such violations that would not, singly or in the aggregate, reasonably be expected to result in a Material Adverse Effect. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated herein (including the issuance and sale of the Shares and the Series B Conversion Shares) and compliance by the Company with its obligations hereunder do not and will not, whether with or without the giving of notice or passage of time, conflict with or constitute a breach of, or default or Repayment Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance upon any properties or assets of the Company or any subsidiary pursuant to the Agreements and Instruments (except for such conflicts, breaches, defaults or Repayment Events or liens, charges or encumbrances that would not, singly or in the aggregate, reasonably be expected to result in a Material Adverse Effect), nor will such action result in any violation of (i) the provisions of the Articles, bylaws or similar organizational document of the Company or any of its subsidiaries or (ii) any applicable instrument, law, statute, rule, regulation, judgment, order, writ or decree of any Governmental Entity, except in the case of clause (ii) for such violations as would not, singly or in the aggregate, reasonably be expected to result in a Material Adverse Effect. As used herein, a “Repayment Event” means any event or condition that gives the holder of any note, debenture or other evidence of indebtedness (or any Person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.
 
4.8         Absence of Proceedings. There is no material action, suit, litigation, proceeding (public or private), criminal prosecution, audit, inquiry or investigation before or brought by any Governmental Entity now pending or, to the knowledge of the Company, threatened, against or affecting the Company or any of its subsidiaries, that would reasonably be expected to result in a Material Adverse Effect, or that would reasonably be expected to materially and adversely affect the consummation of the transactions contemplated in this Agreement or the performance by the Company of its obligations hereunder.
 
4.9         Absence of Further Requirements. No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any Governmental Entity is necessary or required for the performance by the Company of its obligations hereunder, in connection with the offering, issuance or sale of the Shares hereunder or the consummation of the transactions contemplated by this Agreement, except for (i) the filing of the Certificate of Designation with the Secretary of State of the State of Washington and (ii) filings pursuant to applicable state securities laws and Regulation D of the 1933 Act.
 
4.10         Private Placement. Neither the Company nor its subsidiaries, nor to the knowledge of the Company, any Person acting on its or their behalf, has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security under any circumstances that would require registration under the 1933 Act of the Shares being sold pursuant to this Agreement. Assuming the accuracy of the representations and warranties of the Purchaser contained 

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in Section 3 hereof, the issuance of the Shares, including the issuance of the Series B Conversion Shares, is exempt from registration under the 1933 Act.
 
4.11         Registration Rights. The Company is not under any obligation, and has not granted any rights, to register under the 1933 Act any of the Shares that may hereafter be issued that have not expired or been satisfied.
 
SECTION 5.     Covenants. 
 
5.1         Reasonable Best Efforts. Each party shall use its reasonable best efforts to timely satisfy each of the conditions to be satisfied by such party as of the Closing Date as provided in Section 6 of this Agreement.
  
5.2    Governance Approvals. The Purchaser shall continue to comply with all applicable federal and state laws and regulations with respect to the Purchaser’s equity holdings in the Company, including with respect to the Shares or the Series B Conversion Shares, as applicable, and shall make all necessary and proper filings and disclosures in accordance with such laws and regulations.

5.3         Disclosure of Transactions and Other Material Information. Within the applicable period of time required by the 1934 Act, the Company shall file a Current Report on Form 8-K describing the terms and conditions of the transactions contemplated by this Agreement in the form required by the 1934 Act and attaching the Agreement and the Certificate of Designation as exhibits to such filing (including all attachments, the “8-K Filing”). 
 
5.4         Expenses. Each of the Company and the Purchaser is liable for, and will pay, its own expenses incurred in connection with the negotiation, preparation, execution and delivery of this Agreement, including, without limitation, attorneys’ and consultants’ fees and expenses.
 
5.5         Listing. The Company and the Purchaser, in his capacity as an officer of the Company, shall use their reasonable best efforts to take all steps necessary to maintain the listing of the Common Stock, on the Nasdaq Stock Market.

5.6         Notice of Conversion. If at any time the Purchaser elects to convert any of such Purchaser’s Shares into Common Stock, the Purchaser shall give the Company written notice of Purchaser’s intent to convert such Shares no later than fifteen (15) Business Days prior to such conversion.

5.7         Tender. The Purchaser shall timely tender such Purchaser’s Shares and enter into any related support agreements in connection with the consummation of a third-party tender offer approved by the Company’s Board of Directors (the “Board”).

5.8         Dissenters’ Rights. The Purchaser agrees to waive any dissenters’ rights or rights of appraisal associated with the Shares with respect to transactions approved by the Strategic Transactions Committee, the Board and the shareholders of the Company. The Purchaser and 

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Company agree that this Section 5.8 shall not in any way affect any other shares of the Company owned by Purchaser or any of the rights of the Purchaser under that certain Agreement dated September 26, 1997 between the Purchaser and the Company with respect to the Strategic Transactions Committee. 

5.9         Drag-Along Right. In the event that the Strategic Transactions Committee, the Board and the shareholders of the Company approve a Sale of the Company, the Purchaser agrees to vote such Purchaser’s Shares in the same proportion as the requisite shareholders (to the extent the Purchaser is entitled to vote such Shares pursuant to applicable law) in favor of such Sale of the Company and to vote in opposition to any and all other proposals that could delay or impair the ability of the Company to consummate such Sale of the Company. The Purchaser and Company agree that this Section 5.9 shall not in any way affect any other shares of the Company owned by Purchaser or any of the rights of the Purchaser under that certain Agreement dated September 26, 1997 between the Purchaser and the Company with respect to the Strategic Transactions Committee.

SECTION 6.     Conditions of Parties’ Obligations.
 
6.1    Conditions of the Parties’ Obligations at the Closing. 

(a)    No Prohibitive Legal Requirements. No Governmental Entity of competent jurisdiction shall have enacted, issued, promulgated, entered, enforced or deemed applicable to the transactions contemplated hereby any legal requirement that is in effect and has the effect of making the transactions contemplated hereby illegal in any jurisdiction in which the Company or the Purchaser have substantial business or operations or which has the effect of prohibiting, preventing or otherwise restraining the consummation of the transactions contemplated hereby in any jurisdiction in which the Company or the Purchaser have substantial business or operations.    

(b)    No Government Litigation. There shall not be pending any legal proceeding brought by a Governmental Entity of competent jurisdiction: (i) challenging or seeking to restrain or prohibit the consummation of the transactions contemplated by this Agreement; or (ii) that would materially and adversely affect the assets or businesses of the Company. 

(c)    No Prohibitive Orders. No Governmental Entity of competent jurisdiction shall have issued or granted any Order (whether temporary, preliminary or permanent) that has the effect of making the transactions contemplated hereby illegal in any jurisdiction in which the Company or the Purchaser have substantial business or operations or which has the effect of prohibiting, preventing or otherwise restraining the consummation of the transactions contemplated hereby. 

6.2          Conditions of the Purchaser’s Obligations at the Closing. The obligations of the Purchaser under Section 2 hereof are subject to the fulfillment, on or prior to the Closing Date, of all of the following conditions, any of which may be waived in whole or in part by the Purchaser in Purchaser’s absolute discretion.
 

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(a)         Representations and Warranties. The representations and warranties of the Company contained in Section 4 of this Agreement shall be true and correct on and as of the Closing Date (except to the extent expressly made as of an earlier date in which case as of such earlier date) with the same effect as though such representations and warranties had been made on and as of the Closing Date.
 
(b)        Performance. The Company shall have performed and complied with all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or prior to the Closing Date. 

(c)         Compliance Certificate. The Chief Financial Officer of the Company shall have delivered to the Purchaser at the Closing Date a certificate certifying that the conditions specified in Section 6.2(a) and Section 6.2(b) of this Agreement have been fulfilled.
 
(d)        Listing Requirements. The Company’s Common Stock (including the Series B Conversion Shares) (i) shall be listed on the Nasdaq Stock Market and (ii) shall not have been suspended, as of the Closing Date, by the Commission or the Nasdaq Stock Market from trading on the Nasdaq Stock Market, nor shall suspension by the Commission or the Nasdaq Stock Market have been threatened as of the Closing Date either (A) in writing by the Commission or the Nasdaq Stock Market or (B) by falling below the minimum listing maintenance requirements of the Nasdaq Stock Market.
 
(e)       Qualification under State Securities Laws. All authorizations, consents, registrations, qualifications, permits and approvals, if any, required of the Company under applicable state securities laws shall have been obtained by the Company for the lawful execution, delivery and performance of this Agreement.

6.3         Conditions of the Company’s Obligations. The obligations of the Company under Section 2 hereof are subject to the fulfillment, on or prior to the Closing Date, of all of the following conditions, any of which may be waived in whole or in part by the Company in its absolute discretion. 
 
(a)        Representations and Warranties. The representations and warranties of the Purchaser contained in Section 3 of this Agreement shall be true and correct on and as of the Closing Date (except to the extent expressly made as of an earlier date in which case as of such earlier date) with the same effect as though such representations and warranties had been made on and as of the Closing Date.
 
(b)      Performance. The Purchaser shall have performed and complied with all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or prior to the Closing Date, including without limitation payment in full for the Shares.

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SECTION 7.         Transfer Restrictions; Restrictive Legend.  The Purchaser understands that the Company may, as a condition to the transfer of any of the Shares or Series B Conversion Shares as permitted by the Company’s Articles, require that the request for transfer be accompanied by a certificate and/or an opinion of counsel reasonably satisfactory to the Company, to the effect that the proposed transfer does not result in a violation of the 1933 Act, unless such transfer is covered by an effective registration statement or by Rule 144 or Rule 144A under the 1933 Act. It is understood that the certificates evidencing the Shares and Series B Conversion Shares may bear substantially the following legends:
 
THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR APPLICABLE STATE SECURITIES LAWS OR A CERTIFICATE AND/OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO AN AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, AND BY ACCEPTING ANY INTEREST IN SUCH SECURITIES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF THAT AGREEMENT, INCLUDING BUT NOT LIMITED TO CERTAIN RESTRICTIONS ON TRANSFER, VOTING AND OWNERSHIP SET FORTH THEREIN.
By accepting ownership of the Shares and/or the Series B Conversion Shares, any transferee agrees to comply in all respects with the provisions of this Agreement, including the covenants in Section 5 hereof, the Articles and the Certificate of Designation.
SECTION 8.         Registration, Transfer and Substitution of Certificates for Shares.
 
8.1       Stock Register; Ownership of Shares. The Company will keep at its principal office, or will cause its transfer agent to keep, a register in which the Company will provide for the registration of transfers of the Shares. The Company may treat the Person in whose name any of the Shares are registered on such register as the owner thereof and the Company shall not be affected by any notice to the contrary. All references in this Agreement to a “holder” of any Shares shall mean the Person in whose name such Shares are at the time registered on such register.
 
8.2       Replacement of Certificates. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of any certificate representing any of the Shares, and, in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement and surety bond reasonably satisfactory to the Company or, in the case of any such 

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mutilation, upon surrender of such certificate for cancellation at the office of the Company maintained pursuant to Section 8.1 hereof, the Company at its expense will execute and deliver, in lieu thereof, a new certificate representing such Shares, of like tenor, if applicable.
 
SECTION 9.     Definitions.    Unless the context otherwise requires, the terms defined in this Section 9 shall have the meanings specified for all purposes of this Agreement. All accounting terms used in this Agreement, whether or not defined in this Section 9, shall be construed in accordance with GAAP and such accounting terms shall be determined on a consolidated basis for the Company and each of its subsidiaries, and the financial statements and other financial information to be furnished by the Company pursuant to this Agreement shall be consolidated and presented with consolidating financial statements of the Company and each of its subsidiaries.
 
“1933 Act Regulations” means the rules and regulations promulgated under the 1933 Act.
 
“1934 Act” means the Securities Exchange Act of 1934, as amended.
 
“1934 Act Regulations” means the rules and regulations promulgated under the 1934 Act.
 
“Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 of the General Rules and Regulations under the 1934 Act.

“Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in the City of New York are authorized or required by law to remain closed.

“Market Value” means the consolidated closing bid price per share of the Common Stock immediately preceding the Effective Date.

“Minimum Price” means the price per share that is the lower of: (i) the closing price per share (as reflected on Nasdaq.com) of the Common Stock immediately preceding the issuance of the Shares, and (ii) the average closing price per share of the Common Stock for the five trading days immediately preceding the Effective Date.

“Nasdaq Price” means the greater of the “Minimum Price” or “Market Value” of the Common Stock as determined in accordance with Nasdaq Rules 5635(c) and 5635(d).  

“Order” means any outstanding judgment, decision, decree, injunction, ruling, writ, assessment or order.

“Person” means any natural person or individual, firm, corporation, partnership, association, limited liability company, trust or any other legal entity.

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the 1933 Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

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“Sale of the Company” means either: (a) a transaction or series of related transactions in which a Person or a group of related Persons acquires from shareholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company; or (b) a transaction that qualifies as a liquidation, dissolution or winding up of the Company.

“Series B Conversion Shares” means the shares of Common Stock issuable upon conversion of the Series B Preferred Stock. 

SECTION 10.    Miscellaneous.
 
10.1    Termination. This Agreement may be terminated and the transactions contemplated hereby may be abandoned at any time prior to the Closing Date upon the mutual written agreement of the Company and the Purchaser. If this Agreement is terminated pursuant to this Section 10.1, then this Agreement shall forthwith become void and there shall be no liability on the part of any party hereto or any of their respective directors, managers, officers, affiliates, stockholders, members or advisors.  

10.2        Waivers and Amendments. Upon the approval of the Company and the written consent of the Purchaser, not to be unreasonably withheld, the obligations of the Company and the rights of the Purchaser under this Agreement may be waived (either generally or in a particular instance, either retroactively or prospectively and either for a specified period of time or indefinitely). Neither this Agreement, nor any provision hereof, may be amended, modified, changed, waived, discharged or terminated orally or by course of dealing, but only by an instrument in writing executed by the Company and the Purchaser.
 
10.3       Notices. All notices, requests, consents, and other communications under this Agreement shall be in writing and shall be deemed delivered: (a) when delivered, if delivered personally, (b) four (4) Business Days after being sent by registered or certified mail, return receipt requested, postage prepaid, (c) one (1) Business Day after being sent via a reputable nationwide overnight courier service guaranteeing next Business Day delivery, or (d) when receipt is acknowledged, in the case of email, in each case to the intended recipient as set forth below, with respect to the Company, and to the addresses set forth on the Schedule of Purchasers with respect to the Purchaser.
 
If to the Company:
 
RealNetworks, Inc.
1501 First Avenue South, Suite 600
Seattle, WA 98134 
Attn: Chief Financial Officer 
 

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with a copy (which shall not constitute notice) to:
 
Wilson Sonsini Goodrich & Rosati, P.C.
701 Fifth Avenue, Suite 5100
Seattle, WA 98104
Attn: Patrick Schultheis

or at such other address as the Company or the Purchaser may specify by written notice to the other parties hereto in accordance with this Section 10.3.
 
10.4     Delays or Omissions; Cumulative Remedies. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.  None of the rights, powers or remedies conferred upon the Purchaser on the one hand or the Company on the other hand shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to every other right, power or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.
 
10.5    Successors and Assigns. All the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective parties hereto, the successors and permitted assigns of the Purchaser and the successors of the Company, whether so expressed or not. None of the parties hereto may assign its rights or obligations hereof without the prior written consent of the Company. This Agreement shall not inure to the benefit of or be enforceable by any other Person. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.
 
10.6    Headings. The headings of the sections and paragraphs of this Agreement have been inserted for convenience of reference only and do not constitute a part of this Agreement.
 
10.7     Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington without regard to its conflict of law principles. Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby may be brought in any federal or state court located in the City of Seattle and State of Washington, and each of the parties hereby consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has been brought in an inconvenient forum. Process 

13

in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.
 
10.8    Survival. The representations and warranties of the Company and the Purchaser contained in Section 3 and Section 4, and the agreements and covenants set forth in Section 5 and Section 10 shall survive the Closing in accordance with their respective terms for the applicable statute of limitations period; provided, however, that such representations and warranties shall cease to survive upon the closing of a transaction or series of transactions deemed to be a Sale of the Company or otherwise a liquidation, dissolution or winding up of the Company pursuant to the Articles. 
 
10.9    Counterparts; Effectiveness. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, with the same effect as if all parties had signed the same document. All such counterparts (including counterparts delivered by facsimile or other electronic format) shall be deemed an original, shall be construed together and shall constitute one and the same instrument. This Agreement shall become effective when each party hereto shall have received counterparts hereof signed by each of the other parties hereto.
 
10.10       Entire Agreement. This Agreement contains the entire agreement among the parties hereto with respect to the subject matter hereof and, except as set forth below, this Agreement supersedes and replaces all other prior agreements, written or oral, among the parties hereto with respect to the subject matter hereof. 
 
10.11    Severability. If any provision of this Agreement shall be found by any court of competent jurisdiction to be invalid or unenforceable, the parties hereby waive such provision to the extent that it is found to be invalid or unenforceable. Such provision shall, to the maximum extent allowable by law, be modified by such court so that it becomes enforceable, and, as modified, shall be enforced as any other provision hereof, all the other provisions hereof continuing in full force and effect.
 
10.12     Independent Nature of Purchaser’s Obligations and Rights. The Company acknowledges and the Purchaser confirms that he has independently participated in the negotiation of the transaction contemplated hereby with the advice of his own counsel and advisors. The Purchaser shall be entitled to independently protect and enforce his rights, including, without limitation, the rights arising out of this Agreement.

(signature page follows)

14

 
IN WITNESS WHEREOF, the parties hereto have caused this Series B Preferred Stock Purchase Agreement to be duly executed as of the Effective Date.
 

REALNETWORKS, INC.

By: /s/ Michael Parham

Name: Michael Parham 

Title: Senior Vice President, General Counsel and Corporate Secretary

ROBERT GLASER

/s/ Robert Glaser
 

(Signature Page to RealNetworks, Inc. Series B Preferred Stock Purchase Agreement)

Exhibit 10.1

SCHEDULE OF PURCHASERS

Closing Date: February 10, 2020

	
			
	Name and Address
	Aggregate Purchase Price
	Number of Shares 
of Series B Preferred Stock

	Robert Glaser
[Address Line 1]
[Address Line 2]
[Email Address]
	$9,999,999.84
	8,064,516

	Total:
	$9,999,999.84
	8,064,516

Exhibit 10.1

Exhibit A

CERTIFICATE OF DESIGNATIONEX-4.1

 Exhibit 4.1 

Execution Version 
  

 
  

SMART GLOBAL HOLDINGS, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION 
 as Trustee 
  

 
 INDENTURE 

Dated as of February 11, 2020 
  

 
 2.25%
Convertible Senior Notes due 2026 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 Article 1. Definitions; Rules of Construction
	  	 	1	 
			
	 Section 1.01.
	  	Definitions	  	 	1	 
	 Section 1.02.
	  	Other Definitions	  	 	13	 
	 Section 1.03.
	  	Rules of Construction	  	 	14	 
		
	 Article 2. The Notes
	  	 	14	 
			
	 Section 2.01.
	  	Form, Dating and Denominations	  	 	14	 
	 Section 2.02.
	  	Execution, Authentication and Delivery	  	 	15	 
	 Section 2.03.
	  	Initial Notes and Additional Notes	  	 	15	 
	 Section 2.04.
	  	Method of Payment	  	 	16	 
	 Section 2.05.
	  	Accrual of Interest; Defaulted Amounts; When Payment Date is Not a Business Day	  	 	16	 
	 Section 2.06.
	  	Registrar, Paying Agent and Conversion Agent	  	 	17	 
	 Section 2.07.
	  	Paying Agent and Conversion Agent to Hold Property in Trust	  	 	18	 
	 Section 2.08.
	  	Holder Lists	  	 	18	 
	 Section 2.09.
	  	Legends	  	 	19	 
	 Section 2.10.
	  	Transfers and Exchanges; Certain Transfer Restrictions	  	 	20	 
	 Section 2.11.
	  	Exchange and Cancellation of Notes to Be Converted, Redeemed or Repurchased	  	 	24	 
	 Section 2.12.
	  	Removal of Transfer Restrictions	  	 	25	 
	 Section 2.13.
	  	Replacement Notes	  	 	26	 
	 Section 2.14.
	  	Registered Holders; Certain Rights with Respect to Global Notes	  	 	26	 
	 Section 2.15.
	  	Cancellation	  	 	26	 
	 Section 2.16.
	  	Notes Held by the Company or its Affiliates	  	 	27	 
	 Section 2.17.
	  	Temporary Notes	  	 	27	 
	 Section 2.18.
	  	Outstanding Notes	  	 	27	 
	 Section 2.19.
	  	Repurchases by the Company	  	 	28	 
	 Section 2.20.
	  	CUSIP and ISIN Numbers	  	 	28	 
		
	 Article 3. Covenants
	  	 	28	 
			
	 Section 3.01.
	  	Payment on Notes	  	 	28	 
	 Section 3.02.
	  	Exchange Act Reports	  	 	28	 
	 Section 3.03.
	  	Rule 144A Information	  	 	29	 
	 Section 3.04.
	  	Additional Interest	  	 	29	 
	 Section 3.05.
	  	Additional Amounts	  	 	30	 
	 Section 3.06.
	  	Compliance and Default Certificates	  	 	33	 
	 Section 3.07.
	  	Stay, Extension and Usury Laws	  	 	33	 
	 Section 3.08.
	  	Notes Acquired by the Company	  	 	33	 
	 Section 3.09.
	  	Existence	  	 	33	 
		
	 Article 4. Repurchase and Redemption
	  	 	33	 
			
	 Section 4.01.
	  	No Sinking Fund	  	 	33	 
	 Section 4.02.
	  	Right of Holders to Require the Company to Repurchase Notes upon a Fundamental Change	  	 	34	 
	 Section 4.03.
	  	Right of the Company to Redeem the Notes	  	 	38	 

  
 - i - 

							
	 Article 5. Conversion
	  	 	43	 
			
	 Section 5.01.
	  	Right to Convert	  	 	43	 
	 Section 5.02.
	  	Conversion Procedures	  	 	47	 
	 Section 5.03.
	  	Settlement upon Conversion	  	 	48	 
	 Section 5.04.
	  	Reserve and Status of Ordinary Shares Issued upon Conversion	  	 	51	 
	 Section 5.05.
	  	Adjustments to the Conversion Rate	  	 	52	 
	 Section 5.06.
	  	Voluntary Adjustments	  	 	62	 
	 Section 5.07.
	  	Adjustments to the Conversion Rate in Connection with a Make-Whole Fundamental Change	  	 	63	 
	 Section 5.08.
	  	Exchange in Lieu of Conversion	  	 	64	 
	 Section 5.09.
	  	Effect of Ordinary Share Change Event	  	 	65	 
		
	 Article 6. Successors
	  	 	67	 
			
	 Section 6.01.
	  	When the Company May Merge, Etc.	  	 	67	 
	 Section 6.02.
	  	Successor Corporation Substituted	  	 	67	 
		
	 Article 7. Defaults and Remedies
	  	 	67	 
			
	 Section 7.01.
	  	Events of Default	  	 	67	 
	 Section 7.02.
	  	Acceleration	  	 	69	 
	 Section 7.03.
	  	Sole Remedy for a Failure to Report	  	 	70	 
	 Section 7.04.
	  	Other Remedies	  	 	71	 
	 Section 7.05.
	  	Waiver of Past Defaults	  	 	71	 
	 Section 7.06.
	  	Control by Majority	  	 	72	 
	 Section 7.07.
	  	Limitation on Suits	  	 	72	 
	 Section 7.08.
	  	Absolute Right of Holders to Institute Suit for the Enforcement of the Right to Receive Payment and Conversion Consideration	  	 	72	 
	 Section 7.09.
	  	Collection Suit by Trustee	  	 	73	 
	 Section 7.10.
	  	Trustee May File Proofs of Claim	  	 	73	 
	 Section 7.11.
	  	Priorities	  	 	73	 
	 Section 7.12.
	  	Undertaking for Costs	  	 	74	 
		
	 Article 8. Amendments, Supplements and Waivers
	  	 	74	 
			
	 Section 8.01.
	  	Without the Consent of Holders	  	 	74	 
	 Section 8.02.
	  	With the Consent of Holders	  	 	75	 
	 Section 8.03.
	  	Notice of Amendments, Supplements and Waivers	  	 	76	 
	 Section 8.04.
	  	Revocation, Effect and Solicitation of Consents; Special Record Dates; Etc.	  	 	76	 
	 Section 8.05.
	  	Notations and Exchanges	  	 	77	 
	 Section 8.06.
	  	Trustee to Execute Supplemental Indentures	  	 	77	 
		
	 Article 9. Satisfaction and Discharge
	  	 	77	 
			
	 Section 9.01.
	  	Termination of Company’s Obligations	  	 	77	 
	 Section 9.02.
	  	Repayment to Company	  	 	78	 
	 Section 9.03.
	  	Reinstatement	  	 	78	 

  
 - ii - 

							
	 Article 10. Trustee
	  	 	79	 
			
	 Section 10.01.
	  	Duties of the Trustee	  	 	79	 
	 Section 10.02.
	  	Rights of the Trustee	  	 	80	 
	 Section 10.03.
	  	Individual Rights of the Trustee	  	 	81	 
	 Section 10.04.
	  	Trustee’s Disclaimer	  	 	82	 
	 Section 10.05.
	  	Notice of Defaults	  	 	82	 
	 Section 10.06.
	  	Compensation and Indemnity	  	 	82	 
	 Section 10.07.
	  	Replacement of the Trustee	  	 	83	 
	 Section 10.08.
	  	Successor Trustee by Merger, Etc.	  	 	84	 
	 Section 10.09.
	  	Eligibility; Disqualification	  	 	84	 
		
	 Article 11. Miscellaneous
	  	 	84	 
			
	 Section 11.01.
	  	Notices	  	 	84	 
	 Section 11.02.
	  	Delivery of Officer’s Certificate and Opinion of Counsel as to Conditions Precedent	  	 	86	 
	 Section 11.03.
	  	Statements Required in Officer’s Certificate and Opinion of Counsel	  	 	86	 
	 Section 11.04.
	  	Rules by the Trustee, the Registrar and the Paying Agent	  	 	86	 
	 Section 11.05.
	  	No Personal Liability of Directors, Officers, Employees and Shareholders	  	 	87	 
	 Section 11.06.
	  	Governing Law; Waiver of Jury Trial	  	 	87	 
	 Section 11.07.
	  	Submission to Jurisdiction	  	 	87	 
	 Section 11.08.
	  	No Adverse Interpretation of Other Agreements	  	 	87	 
	 Section 11.09.
	  	Successors	  	 	87	 
	 Section 11.10.
	  	Force Majeure	  	 	88	 
	 Section 11.11.
	  	U.S.A. PATRIOT Act	  	 	88	 
	 Section 11.12.
	  	Calculations	  	 	88	 
	 Section 11.13.
	  	Severability	  	 	88	 
	 Section 11.14.
	  	Counterparts	  	 	89	 
	 Section 11.15.
	  	Table of Contents, Headings, Etc.	  	 	89	 
	 Section 11.16.
	  	[Reserved]	  	 	89	 
	 Section 11.17.
	  	Foreign Account Tax Compliance Act (FATCA)	  	 	89	 

 Exhibits 
  

					
	 Exhibit A: Form of Note
	  	 	A-1	 
		
	 Exhibit B-1: Form of Restricted Note Legend
	  	 	B1-1	 
		
	 Exhibit B-2: Form of Global Note Legend
	  	 	B2-1	 
		
	 Exhibit B-3: Form of
Non-Affiliate Legend
	  	 	B3-1	 

  
 - iii - 

 INDENTURE, dated as of February 11, 2020, between SMART Global Holdings, Inc., a
Cayman Islands exempted company, as issuer (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”). 

Each party to this Indenture (as defined below) agrees as follows for the benefit of the other party and for the equal and ratable benefit of
the Holders (as defined below) of the Notes (as defined below). 
 Article 1. DEFINITIONS; RULES OF CONSTRUCTION 

Section 1.01. DEFINITIONS. 

“Additional Interest” means any interest that accrues on any Note pursuant to Section 3.04. 

“Affiliate” has the meaning set forth in Rule 144 as in effect on the Issue Date. 

“Authorized Denomination” means, with respect to a Note, a principal amount thereof equal to $1,000 or any integral multiple
of $1,000 in excess thereof. 
 “Bankruptcy Law” means Title 11, United States Code, or any similar U.S. federal or state
or non-U.S. law for the relief of debtors. 
 “Bid Solicitation Agent” means the
Person who is required to obtain bids for the Trading Price in accordance with Section 5.01(C)(i)(2) and the definition of “Trading Price.” The initial Bid Solicitation Agent on the Issue Date will be the Company;
provided, however, that the Company may appoint any other Person (including itself or any of its Subsidiaries) to be the Bid Solicitation Agent at any time after the Issue Date without prior notice to the Holders. 

“Board of Directors” means the board of directors of the Company or a committee of such board duly authorized to act on
behalf of such board. 
 “Business Day” means any day other than a Saturday, a Sunday or any day on which the Federal
Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 
 “Capital Stock” of
any Person means any and all shares of, interests in, rights to purchase, warrants or options for, participations in, or other equivalents of, in each case however designated, the equity of such Person, but excluding any debt securities convertible
into such equity. 
 “Change in Tax Law” means any change or amendment in the laws, rules or regulations of a Relevant
Taxing Jurisdiction, or any change in an official written interpretation, administration or application of such laws, rules or regulations by any legislative body, court, governmental taxing authority or regulatory or administrative authority of
such Relevant Taxing Jurisdiction (including the enactment of any legislation and the publication of any judicial decision or regulatory or administrative interpretation or determination) affecting taxation, which change or amendment (A) had
not been theretofore publicly announced; and (B) becomes effective on or after February 6, 2020 (or, if the Relevant Taxing Jurisdiction was not a Relevant Taxing Jurisdiction on such date, the date on which such Relevant Taxing
Jurisdiction became a Relevant Taxing Jurisdiction). 

  
 - 1 - 

 “Close of Business” means 5:00 p.m., New York City time. 

“Company” means the Person named as such in the first paragraph of this Indenture and, subject to Article 6, its
successors and assigns. 
 “Company Order” means a written request or order signed on behalf of the Company by one
(1) of its Officers and delivered to the Trustee. 
 “Conversion Date” means, with respect to a Note, the first
Business Day on which the requirements set forth in Section 5.02(A) to convert such Note are satisfied, subject to Section 5.03(C). 

“Conversion Price” means, as of any time, an amount equal to (A) one thousand dollars ($1,000) divided by
(B) the Conversion Rate in effect at such time. 
 “Conversion Rate” initially means 24.6252 Ordinary Shares per
$1,000 principal amount of Notes; provided, however, that the Conversion Rate is subject to adjustment pursuant to Article 5; provided, further, that whenever this Indenture refers to the Conversion Rate as of a
particular date without setting forth a particular time on such date, such reference will be deemed to be to the Conversion Rate immediately after the Close of Business on such date. 

“Conversion Share” means any Ordinary Share issued or issuable upon conversion of any Note. 

“Corporate Trust Office” means the designated office of the Trustee at which at any time this Indenture shall be
administered, which office at the date hereof is located at 633 West Fifth Street, 24th Floor, Los Angeles, CA 90071, Attention: B. Scarbrough (SMART Global Holdings, Inc.), or such other address
as the Trustee may designate from time to time by notice to the Holders and the Company, or the designated corporate trust office of any successor trustee (or such other address as such successor trustee may designate from time to time by notice to
the Holders and the Company). 
 “Daily Cash Amount” means, with respect to any VWAP Trading Day, the lesser of
(A) the applicable Daily Maximum Cash Amount; and (B) the Daily Conversion Value for such VWAP Trading Day. 
 “Daily
Conversion Value” means, with respect to any VWAP Trading Day, one-fortieth (1/40th) of the product of (A) the Conversion Rate on such VWAP Trading Day; and (B) the Daily VWAP per Ordinary
Share on such VWAP Trading Day. 
 “Daily Maximum Cash Amount” means, with respect to the conversion of any Note, the
quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40). 

  
 - 2 - 

 “Daily Share Amount” means, with respect to any VWAP Trading Day, the
quotient obtained by dividing (A) the excess, if any, of the Daily Conversion Value for such VWAP Trading Day over the applicable Daily Maximum Cash Amount by (B) the Daily VWAP for such VWAP Trading Day. For the avoidance of doubt, the
Daily Share Amount will be zero for such VWAP Trading Day if such Daily Conversion Value does not exceed such Daily Maximum Cash Amount. 

“Daily VWAP” means, for any VWAP Trading Day, the per share volume-weighted average price of the Ordinary Shares as displayed
under the heading “Bloomberg VWAP” on Bloomberg page “SGH <EQUITY> AQR” (or, if such page is not available, its equivalent successor page) in respect of the period from the scheduled open of trading until the scheduled
close of trading of the primary trading session on such VWAP Trading Day (or, if such volume-weighted average price is unavailable, the market value of one Ordinary Share on such VWAP Trading Day, determined, using a volume-weighted average price
method, by a nationally recognized independent investment banking firm selected by the Company, which may include any of the Initial Purchasers). The Daily VWAP will be determined without regard to after-hours trading or any other trading outside of
the regular trading session. 
 “De-Legending Deadline Date” means, with respect to
any Note, the fifteenth (15th) day after the Free Trade Date of such Note; provided, however, that if such fifteenth (15th) day is after a Regular Record Date and on or before the next Interest Payment Date, then the De-Legending Deadline Date for such Note will instead be the Business Day immediately after such Interest Payment Date. 

“Default” means any event that is (or, after notice, passage of time or both, would be) an Event of Default. 

“Default Settlement Method” means Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount
of Notes; provided, however, that the Company may, from time to time, change the Default Settlement Method by sending notice of the new Default Settlement Method to the Holders, the Trustee and the Conversion Agent (if other than the
Trustee). 
 “Depositary” means The Depository Trust Company or its successor. 

“Depositary Participant” means any member of, or participant in, the Depositary. 

“Depositary Procedures” means, with respect to any conversion, transfer, exchange or transaction involving a Global Note or
any beneficial interest therein, the rules and procedures of the Depositary applicable to such conversion, transfer, exchange or transaction. 

“Ex-Dividend Date” means, with respect to an issuance, dividend or distribution on
the Ordinary Shares, the first date on which Ordinary Shares trade on the applicable exchange or in the applicable market, regular way, without the right to receive such issuance, dividend or distribution (including pursuant to due bills or similar
arrangements required by the relevant stock exchange). For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in respect of the Ordinary Shares under a separate ticker symbol or CUSIP number will not be
considered “regular way” for this purpose. 

  
 - 3 - 

 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended.

 “Exempted Fundamental Change” means any Fundamental Change with respect to which, in accordance with
Section 4.02(I), the Company does not offer to repurchase any Notes. 
 “Free Trade Date” means,
with respect to any Note, the date that is one (1) year after the Last Original Issue Date of such Note. 
 “Freely
Tradable” means, with respect to any Note, that such Note would be eligible to be offered, sold or otherwise transferred pursuant to Rule 144 if held by a Person that is not an Affiliate of the Company, and that has not been an Affiliate of
the Company during the immediately preceding three (3) months, without any requirements as to volume, manner of sale, availability of current public information or notice under the Securities Act (except that, during the six (6) month
period beginning on, and including, the date that is six (6) months after the Last Original Issue Date of such Note, any such requirement as to the availability of current public information will be disregarded if the same is satisfied at that
time); provided, however, that from and after the Free Trade Date of such Note, such Note will not be Freely Tradable unless such Note (x) is not identified by a “restricted” CUSIP or ISIN number; and (y) is not
represented by any certificate that bears a Restricted Note Legend. For the avoidance of doubt, whether a Note is deemed to be identified by a “restricted” CUSIP or ISIN number or to bear the Restricted Note Legend is subject to
Section 2.12. 
 “Fundamental Change” means any of the following events: 

(A) a “Person” or “group” (within the meaning of Section 13(d)(3) of the Exchange Act), other than the Company or its
Wholly Owned Subsidiaries, or their respective employee benefit plans, files any report with the SEC indicating that such Person or group has become the direct or indirect “beneficial owner” (as defined below) of shares of the
Company’s common equity representing more than fifty percent (50%) of the voting power of all of the Company’s then-outstanding Ordinary Shares; 

(B) the consummation of (i) any sale, lease or other transfer, in one transaction or a series of transactions, of all or substantially
all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person, other than solely to the Company or one or more of the Company’s Wholly Owned Subsidiaries; or (ii) any transaction or series of related transactions
in connection with which (whether by means of merger, consolidation, share exchange, combination, reclassification, recapitalization, acquisition, liquidation or otherwise) all of the Ordinary Shares are exchanged for, converted into, acquired for,
or constitutes solely the right to receive, other securities, cash or other property; provided, however, that any merger, consolidation, share exchange or combination of the Company pursuant to which the Persons that directly or
indirectly “beneficially owned” (as defined below) all classes of the Company’s common equity immediately before such transaction directly or indirectly “beneficially own,” immediately after such transaction, more than fifty
percent (50%) of all classes of common equity of the surviving, continuing or acquiring company or other transferee, as applicable, or the parent thereof, in substantially the same proportions vis-à-vis each other as immediately before such transaction will be deemed not to be a Fundamental Change pursuant to this clause (B); 

  
 - 4 - 

 (C) the Company’s shareholders approve any plan or proposal for the liquidation or
dissolution of the Company; or 
 (D) the Ordinary Shares cease to be listed on any of The New York Stock Exchange, The Nasdaq Global Market
or The Nasdaq Global Select Market (or any of their respective successors); 
 provided, however, that a transaction or event described in
clause (A) or (B) above will not constitute a Fundamental Change if at least ninety percent (90%) of the consideration received or to be received by the holders of Ordinary Shares (excluding cash payments for fractional shares or
pursuant to dissenters rights), in connection with such transaction or event, consists of shares of common stock or ordinary shares listed (or depositary receipts representing shares of common stock or ordinary shares, which depositary receipts are
listed) on any of The New York Stock Exchange, The Nasdaq Global Market or The Nasdaq Global Select Market (or any of their respective successors), or that will be so listed when issued or exchanged in connection with such transaction or event, and
such transaction or event constitutes an Ordinary Share Change Event whose Reference Property consists of such consideration. 
 For the
purposes of this definition, (x) any transaction or event described in both clause (A) and in clause (B)(ii) above (without regard to the proviso in clause (B)) will be deemed to occur solely pursuant to clause
(B) above (subject to such proviso); (y) whether a Person is a “beneficial owner,” whether shares are “beneficially owned,” and percentage beneficial ownership, will be determined in accordance with Rule 13d-3 and 13d-5 under the Exchange Act (as in effect on February 6, 2020); and (z) the phrase Person or “group” is within the meaning of Section 13(d)
or 14(d) of the Exchange Act, but excluding (i) any employee benefit plan of such Person or “group” or of its Subsidiaries and (ii) any Person acting in its capacity as trustee, agent or other fiduciary or administrator of any
such plan (but solely to the extent such Person is acting in such capacity). 
 “Fundamental Change Repurchase Date” means
the date fixed for the repurchase of any Notes by the Company pursuant to a Repurchase Upon Fundamental Change. 
 “Fundamental
Change Repurchase Notice” means a notice (including a notice substantially in the form of the “Fundamental Change Repurchase Notice” set forth in Exhibit A) containing the information, or otherwise complying with the
requirements, set forth in Section 4.02(F)(i) and Section 4.02(F)(ii). 

“Fundamental Change Repurchase Price” means the cash price payable by the Company to repurchase any Note upon its Repurchase
Upon Fundamental Change, calculated pursuant to Section 4.02(D). 
 “Global Note” means a Note
that is represented by a certificate substantially in the form set forth in Exhibit A, registered in the name of the Depositary or its nominee, duly executed by the Company and authenticated by the Trustee, and deposited with the
Trustee, as custodian for the Depositary. 

  
 - 5 - 

 “Global Note Legend” means a legend substantially in the form set forth in
Exhibit B-2. 
 “Holder” means a person in whose name a Note is registered
on the Registrar’s books. 
 “Indenture” means this Indenture, as amended or supplemented from time to time. 

“Initial Purchasers” means Morgan Stanley & Co. LLC, Barclays Capital Inc., Deutsche Bank Securities Inc. and
Needham & Company, LLC. 
 “Interest Payment Date” means, with respect to a Note, each February 15 and
August 15 of each year, commencing on August 15, 2020 (or such other date specified in the certificate representing such Note). For the avoidance of doubt the Maturity Date is an Interest Payment Date. 

“Issue Date” means February 11, 2020. 

“Last Original Issue Date” means (A) with respect to any Notes issued pursuant to the Purchase Agreement, and any Notes
issued in exchange therefor or in substitution thereof, the Issue Date; and (B) with respect to any Notes issued pursuant to Section 2.03(B), and any Notes issued in exchange therefor or in substitution thereof, either
(i) the later of (x) the date such Notes are originally issued and (y) the last date any Notes are originally issued as part of the same offering pursuant to the exercise of an option granted to the initial purchaser(s) of such Notes
to purchase additional Notes; or (ii) such other date as is specified in an Officer’s Certificate delivered to the Trustee before the original issuance of such Notes. 

“Last Reported Sale Price” of the Ordinary Shares for any Trading Day means the closing sale price per Ordinary Share (or, if
no closing sale price is reported, the average of the last bid price and the last ask price per Ordinary Share or, if more than one in either case, the average of the average last bid prices and the average last ask prices per share) on such Trading
Day as reported in composite transactions for the principal U.S. national or regional securities exchange on which the Ordinary Shares are then listed. If the Ordinary Shares are not listed on a U.S. national or regional securities exchange on such
Trading Day, then the Last Reported Sale Price will be the last quoted bid price per Ordinary Share on such Trading Day in the over-the-counter market as reported by OTC
Markets Group Inc. or a similar organization. If the Ordinary Shares are not so quoted on such Trading Day, then the Last Reported Sale Price will be the average of the mid-point of the last bid price and the
last ask price per Ordinary Share on such Trading Day from a nationally recognized independent investment banking firm selected by the Company, which may include any of the Initial Purchasers. Neither the Trustee nor the Conversion Agent will have
any duty to determine the Last Reported Sale Price. 

  
 - 6 - 

 “Make-Whole Fundamental Change” means (A) a Fundamental Change
(determined after giving effect to the proviso immediately after clause (D) of the definition thereof, but without regard to the proviso to clause (B)(ii) of such definition); or (B) the sending of a Redemption Notice
pursuant to Section 4.03(H); provided, however, that, subject to Section 4.03(L), the sending of a Redemption Notice will constitute a Make-Whole Fundamental Change only with respect
to the Notes called (or deemed to be called pursuant to Section 4.03(L)) for Redemption pursuant to such Redemption Notice and not with respect to any other Notes. 

“Make-Whole Fundamental Change Conversion Period” has the following meaning: 

(A) in the case of a Make-Whole Fundamental Change pursuant to clause (A) of the definition thereof, the period from, and
including, the Make-Whole Fundamental Change Effective Date of such Make-Whole Fundamental Change to, and including, the thirty fifth (35th) Trading Day after such Make-Whole Fundamental Change Effective Date (or, if such Make-Whole Fundamental
Change also constitutes a Fundamental Change (other than an Exempted Fundamental Change), to, but excluding, the related Fundamental Change Repurchase Date); and 

(B) in the case of a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the period from, and
including, the related Redemption Notice Date to, and including, the Business Day immediately before the related Redemption Date; 
 provided,
however, that if the Conversion Date for the conversion of a Note occurs during the Make-Whole Fundamental Change Conversion Period for both a Make-Whole Fundamental Change occurring pursuant to clause (A) of the definition of
“Make-Whole Fundamental Change” and a Make-Whole Fundamental Change occurring pursuant to clause (B) of such definition, then, notwithstanding anything to the contrary in Section 5.07, solely for
purposes of such conversion, (x) such Conversion Date will be deemed to occur solely during the Make-Whole Fundamental Change Conversion Period for the Make-Whole Fundamental Change with the earlier Make-Whole Fundamental Change Effective Date;
and (y) the Make-Whole Fundamental Change with the later Make-Whole Fundamental Change Effective Date will be deemed not to have occurred. 

“Make-Whole Fundamental Change Effective Date” means (A) with respect to a Make-Whole Fundamental Change pursuant to
clause (A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B) with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the definition
thereof, the applicable Redemption Notice Date. 
 “Market Disruption Event” means, with respect to any date, the
occurrence or existence, during the one-half hour period ending at the scheduled close of trading on such date on the principal U.S. national or regional securities exchange or other market on which the
Ordinary Shares are listed for trading or trades, of any material suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Ordinary Shares or in any options
contracts or futures contracts relating to the Ordinary Shares. 
 “Maturity Date” means February 15, 2026. 

“Non-Affiliate Legend” means a legend substantially in the form set forth in
Exhibit B-3. 

  
 - 7 - 

 “Note Agent” means any Registrar, Paying Agent or Conversion Agent. 

“Notes” means the 2.25% Convertible Senior Notes due 2026 issued by the Company pursuant to this Indenture. 

“Observation Period” means, with respect to any Note to be converted, (A) subject to clause (B) below, if
the Conversion Date for such Note occurs before August 15, 2025, the forty (40) consecutive VWAP Trading Days beginning on, and including, the second (2nd) VWAP Trading Day immediately after such Conversion Date; (B) if such
Conversion Date occurs on or after the date the Company has sent a Redemption Notice pursuant to Section 4.03(H) and before the related Redemption Date, the forty (40) consecutive VWAP Trading Days beginning on, and
including, the forty first (41st) Scheduled Trading Day immediately before such Redemption Date; and (C) subject to clause (B) above, if such Conversion Date occurs on or after August 15, 2025, the forty (40) consecutive
VWAP Trading Days beginning on, and including, the forty first (41st) Scheduled Trading Day immediately before the Maturity Date. 

“Officer” means the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Operating
Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, the Chief Legal Officer, General Counsel or any Vice President of the Company. 

“Officer’s Certificate” means a certificate that is signed on behalf of the Company by one (1) of its Officers and
that meets the requirements of Section 11.03. 
 “Open of Business” means 9:00 a.m., New York
City time. 
 “Opinion of Counsel” means an opinion, from legal counsel (including an employee of, or counsel to, the
Company or any of its Subsidiaries) who is reasonably acceptable to the Trustee, that meets the requirements of Section 11.03, subject to customary qualifications and exclusions. 

“Ordinary Shares” means the ordinary shares, $0.03 par value per share, of the Company, subject to
Section 5.09. 
 “Person” or “person” means any individual, corporation,
partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof. Any division or series of a limited liability company,
limited partnership or trust will constitute a separate “person.” 
 “Physical Note” means a Note (other than a
Global Note) that is represented by a certificate substantially in the form set forth in Exhibit A, registered in the name of the Holder of such Note and duly executed by the Company and authenticated by the Trustee. 

“Place of Payment” means the office or agency of the Paying Agent established pursuant to
Section 2.06(A) where Notes may be presented for payment, which office or agency, for the avoidance of doubt, must be in the continental United States. 

  
 - 8 - 

 “Purchase Agreement” means that certain Purchase Agreement, dated
February 6, 2020, between the Company and the representatives of the Initial Purchasers. 
 “Redemption” means the
redemption of any Note by the Company pursuant to Section 4.03, including a Tax Redemption. 
 “Redemption
Date” means the date fixed for the repurchase of any Notes by the Company pursuant to a Redemption. 
 “Redemption Notice
Date” means, with respect to a Redemption, the date on which the Company sends the related Redemption Notice for such Redemption pursuant to Section 4.03(H). 

“Redemption Price” means the cash price payable by the Company to redeem any Note upon its Redemption, calculated pursuant to
Section 4.03(F). 
 “Regular Record Date” has the following meaning with respect to an Interest
Payment Date: (A) if such Interest Payment Date occurs on February 15, the immediately preceding February 1; and (B) if such Interest Payment Date occurs on August 15, the immediately preceding August 1. 

“Repurchase Upon Fundamental Change” means the repurchase of any Note by the Company pursuant to
Section 4.02. 
 “Responsible Officer” means (A) any officer within the Corporate Trust
Office 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 such officers; and (B) with respect to a particular corporate trust matter
relating to this Indenture, any other officer to whom such matter is referred because of his or her knowledge of, and familiarity with, the particular subject, and who, in each case, shall have direct responsibility for the administration of this
Indenture. 
 “Restricted Note Legend” means a legend substantially in the form set forth in Exhibit B-1. 
 “Restricted Shares Legend” means, with respect to any Conversion Share, a
legend substantially to the effect that the offer and sale of such Conversion Share have not been registered under the Securities Act and that such Conversion Share cannot be sold or otherwise transferred except pursuant to a transaction that is
registered under the Securities Act or that is exempt from, or not subject to, the registration requirements of the Securities Act. 

“Rule 144” means Rule 144 under the Securities Act (or any successor rule thereto), as the same may be amended from time to
time. 
 “Rule 144A” means Rule 144A under the Securities Act (or any successor rule thereto), as the same may be amended
from time to time. 

  
 - 9 - 

 “Scheduled Trading Day” means any day that is scheduled to be a Trading Day
on the principal U.S. national or regional securities exchange on which Ordinary Shares are then listed or, if the Ordinary Shares are not then listed on a U.S. national or regional securities exchange, on the principal other market on which the
Ordinary Shares are then traded. If the Ordinary Shares are not so listed or traded, then “Scheduled Trading Day” means a Business Day. 

“SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Security” means any Note or Conversion Share. 

“Settlement Method” means Cash Settlement, Physical Settlement or Combination Settlement. 

“Share Price” has the following meaning for any Make-Whole Fundamental Change: (A) if all of the holders of Ordinary
Shares receive only cash in consideration for their Ordinary Shares in such Make-Whole Fundamental Change and such Make-Whole Fundamental Change is pursuant to clause (B) of the definition of “Fundamental Change,” then the
Share Price is the amount of cash paid per Ordinary Share in such Make-Whole Fundamental Change; and (B) in all other cases, the Share Price is the average of the Last Reported Sale Prices per Ordinary Share for the five (5) consecutive
Trading Days ending on, and including, the Trading Day immediately before the Make-Whole Fundamental Change Effective Date of such Make-Whole Fundamental Change. 

“Significant Subsidiary” means, with respect to any Person, any Subsidiary of such Person that constitutes a
“significant subsidiary” (as defined in Rule 1-02(w) of Regulation S-X under the Exchange Act) of such Person; provided, however, that, if a
Subsidiary meets the criteria of clause (3), but not clause (1) or (2), of the definition of “significant subsidiary” in Rule 1-02(w) of Regulation S-X
under the Exchange Act, then such Subsidiary will be deemed not to be a Significant Subsidiary unless such Subsidiary’s income from continuing operations before income taxes, exclusive of amounts attributable to any non-controlling interests, for the last completed fiscal year before the date of determination exceeds twelve million dollars ($12,000,000). 

“Special Interest” means any interest that accrues on any Note pursuant to Section 7.03. 

“Specified Dollar Amount” means, with respect to the conversion of a Note to which Combination Settlement applies, the
maximum cash amount per $1,000 principal amount of such Note deliverable upon such conversion (excluding cash in lieu of any fractional Ordinary Share). 

“Subsidiary” means, with respect to any Person, (A) any corporation, association or other business entity (other than a
partnership or limited liability company) of which more than fifty percent (50%) of the total voting power of the Capital Stock entitled (without regard to the occurrence of any contingency, but after giving effect to any voting agreement or
shareholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees, as applicable, of such corporation, association or other business entity is owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of such 

  
 - 10 - 

 
Person; and (B) any partnership or limited liability company where (i) more than fifty percent (50%) of the capital accounts, distribution rights, equity and voting interests, or of the
general and limited partnership interests, as applicable, of such partnership or limited liability company are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of such Person, whether in the form
of membership, general, special or limited partnership or limited liability company interests or otherwise; and (ii) such Person or any one or more of the other Subsidiaries of such Person is a controlling general partner of, or otherwise
controls, such partnership or limited liability company. 
 “Tax Redemption” means the redemption of any Note by the
Company pursuant to Section 4.03(C). 
 “Taxes” means, with respect to the Additional Amounts, any tax, duty, levy,
impost, assessment or other governmental charge of whatever nature imposed or levies (including penalties and interest and other similar liabilities related thereto). 

“Trading Day” means any day on which (A) trading in the Ordinary Shares generally occurs on the principal U.S. national
or regional securities exchange on which the Ordinary Shares are then listed or, if the Ordinary Shares are not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Ordinary Shares are then
traded; and (B) there is no Market Disruption Event. If the Ordinary Shares are not so listed or traded, then “Trading Day” means a Business Day. 

“Trading Price” of the Notes on any Trading Day means the average of the secondary market bid quotations, expressed as a cash
amount per $1,000 principal amount of Notes, obtained by the Bid Solicitation Agent for five million dollars ($5,000,000) (or such lesser amount as may then be outstanding) in principal amount of Notes at approximately 3:30 p.m., New York City time,
on such Trading Day from three (3) nationally recognized independent securities dealers selected by the Company, which may include any of the Initial Purchasers; provided, however, that, if three (3) such bids cannot
reasonably be obtained by the Bid Solicitation Agent but two (2) such bids are obtained, then the average of the two (2) bids will be used, and if only one (1) such bid can reasonably be obtained by the Bid Solicitation Agent, then
that one (1) bid will be used. If, on any Trading Day, (A) the Bid Solicitation Agent cannot reasonably obtain at least one (1) bid for five million dollars ($5,000,000) (or such lesser amount as may then be outstanding) in principal
amount of Notes from a nationally recognized independent securities dealer; (B) the Company is not acting as the Bid Solicitation Agent and the Company fails to instruct the Bid Solicitation Agent to obtain bids when required; or (C) the
Bid Solicitation Agent fails to solicit bids when required, then, in each case, the Trading Price per $1,000 principal amount of Notes on such Trading Day will be deemed to be less than ninety eight percent (98%) of the product of the Last Reported
Sale Price per Ordinary Share on such Trading Day and the Conversion Rate on such Trading Day. 
 “Transfer-Restricted
Security” means any Security that constitutes a “restricted security” (as defined in Rule 144); provided, however, that such Security will cease to be a Transfer-Restricted Security upon the earliest to occur of the
following events: 
 (A) such Security is sold or otherwise transferred to a Person (other than the Company, an Affiliate of the Company or a
Person that was an Affiliate of the Company in the three months immediately preceding) pursuant to a registration statement that was effective under the Securities Act at the time of such sale or transfer; 

  
 - 11 - 

 (B) such Security is sold or otherwise transferred to a Person (other than the Company, an
Affiliate of the Company or a Person that was an Affiliate of the Company in the three months immediately preceding) pursuant to an available exemption (including Rule 144) from the registration and prospectus-delivery requirements of, or in a
transaction not subject to, the Securities Act and, immediately after such sale or transfer, such Security ceases to constitute a “restricted security” (as defined in Rule 144); and 

(C) such Security is eligible for resale, by a Person that is not an Affiliate of the Company and that has not been an Affiliate of the
Company during the immediately preceding three (3) months, pursuant to Rule 144 without any limitations thereunder as to volume, manner of sale, availability of current public information or notice. 

The Trustee is under no obligation to determine whether any Security is a Transfer-Restricted Security and may conclusively rely on an
Officer’s Certificate with respect thereto. 
 “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939, as
amended. 
 “Trustee” means the Person named as such in the first paragraph of this Indenture until a successor replaces it
in accordance with the provisions of this Indenture and, thereafter, means such successor. 
 “VWAP Market Disruption
Event” means, with respect to any date, (A) the failure by the principal U.S. national or regional securities exchange on which the Ordinary Shares are then listed, or, if the Ordinary Shares are not then listed on a U.S. national or
regional securities exchange, the principal other market on which the Ordinary Shares are then traded, to open for trading during its regular trading session on such date; or (B) the occurrence or existence, for more than one half hour period
in the aggregate, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant exchange or otherwise) in the Ordinary Shares or in any options contracts or futures contracts relating
to the Ordinary Shares, and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such date. 

“VWAP Trading Day” means a day on which (A) there is no VWAP Market Disruption Event; and (B) trading in the
Ordinary Shares generally occurs on the principal U.S. national or regional securities exchange on which the Ordinary Shares are then listed or, if the Ordinary Shares are not then listed on a U.S. national or regional securities exchange, on the
principal other market on which the Ordinary Shares are then traded. If the Ordinary Shares are not so listed or traded, then “VWAP Trading Day” means a Business Day. 

“Wholly Owned Subsidiary” of a Person means any Subsidiary of such Person, determined by reference to the definition of
“Subsidiary” above but with each reference therein to “more than fifty percent (50%)” deemed to be replaced with “one hundred percent (100%)” for purposes of this definition; provided, however, that
directors’ qualifying shares will be disregarded for purposes of determining whether any Person is a Wholly Owned Subsidiary of another Person. 

  
 - 12 - 

 Section 1.02. OTHER DEFINITIONS. 

 

			
	 Term
	  	 Defined in

Section

	 “Additional Amounts”
	  	3.05(A)
	 “Additional Shares”
	  	5.07(A)
	 “Applicable Tax Law”
	  	11.17
	 “Business Combination Event”
	  	6.01(A)
	 “Cash Settlement”
	  	5.03(A)
	 “Combination Settlement”
	  	5.03(A)
	 “Conversion Agent”
	  	2.06(A)
	 “Conversion Consideration”
	  	5.03(B)
	 “Default Interest”
	  	2.05(B)
	 “Defaulted Amount”
	  	2.05(B)
	 “Event of Default”
	  	7.01(A)
	 “Expiration Date”
	  	5.05(A)(v)
	 “Expiration Time”
	  	5.05(A)(v)
	 “FATCA”
	  	7.01(A)
	 “Fundamental Change Notice”
	  	4.02(E)
	 “Fundamental Change Repurchase Right”
	  	4.02(A)
	 “Initial Notes”
	  	2.03(A)
	 “Measurement Period”
	  	5.01(C)(i)(2)
	 “Ordinary Share Change Event”
	  	5.09(A)
	 “Paying Agent”
	  	2.06(A)
	 “Physical Settlement”
	  	5.03(A)
	 “Redemption Notice”
	  	4.03(H)
	 “Reference Property”
	  	5.09(A)
	 “Reference Property Unit”
	  	5.09(A)
	 “Register”
	  	2.06(B)
	 “Registrar”
	  	2.06(A)
	 “Relevant Taxing Jurisdiction”
	  	3.05(A)
	 “Reporting Event of Default”
	  	7.03(A)
	 “Specified Courts”
	  	11.07
	 “Spin-Off”
	  	5.05(A)(iii)(2)
	 “Spin-Off Valuation Period”
	  	5.05(A)(iii)(2)
	 “Stated Interest”
	  	2.05(A)
	 “Successor Corporation”
	  	6.01(A)
	 “Successor Person”
	  	5.09(A)
	 “Tax Redemption Opt-Out
Election”
	  	4.03(C)(ii)
	 “Tax Redemption Opt-Out Election
Notice”
	  	4.03(C)(ii)(1)
	 “Tender/Exchange Offer Valuation Period”
	  	5.05(A)(v)
	 “Trading Price Condition”
	  	5.01(C)(i)(2)
	 “Transfer Taxes”
	  	3.05(B)
	 “Trigger Event”
	  	5.05(A)(iii)(1)

  
 - 13 - 

 Section 1.03. RULES OF CONSTRUCTION. 

For purposes of this Indenture: 

(A) “or” is not exclusive; 

(B) “including” means “including without limitation”; 

(C) “will” expresses a command; 

(D) the “average” of a set of numerical values refers to the arithmetic average of such numerical values; 

(E) words in the singular include the plural and in the plural include the singular, unless the context requires otherwise; 

(F) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision of this Indenture, unless the context requires otherwise; 
 (G) references to currency mean the
lawful currency of the United States of America, unless the context requires otherwise; 
 (H) the exhibits, schedules and other attachments
to this Indenture are deemed to form part of this Indenture; and 
 (I) the term “interest,” when used with respect to a
Note, includes any Additional Interest and Special Interest, unless the context requires otherwise. 
 Article 2. THE NOTES 

Section 2.01. FORM, DATING AND DENOMINATIONS. 

The Notes and the Trustee’s certificate of authentication will be substantially in the form set forth in Exhibit A. The Notes will
bear the legends required by Section 2.09 and may bear notations, legends or endorsements required by law, stock exchange rule or usage or the Depositary. Each Note will be dated as of the date of its authentication. 

Except to the extent otherwise provided in a Company Order delivered to the Trustee in connection with the issuance and authentication
thereof, the Notes will be issued initially in the form of one or more Global Notes. Global Notes may be exchanged for Physical Notes, and Physical Notes may be exchanged for Global Notes, only as provided in Section 2.10.

 The Notes will be issuable only in registered form without interest coupons and only in Authorized Denominations. 

  
 - 14 - 

 Each certificate representing a Note will bear a unique registration number that is not
affixed to any other certificate representing another outstanding Note. 
 The terms contained in the Notes constitute part of this
Indenture, and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Indenture, agree to such terms and to be bound thereby; provided, however, that, to the extent that any provision of any
Note conflicts with the provisions of this Indenture, the provisions of this Indenture will control for purposes of this Indenture and such Note. 

Section 2.02. EXECUTION, AUTHENTICATION AND DELIVERY. 

(A) Due Execution by the Company. At least one (1) duly authorized Officer will sign the Notes on behalf of the Company by manual
or facsimile signature. A Note’s validity will not be affected by the failure of any Officer whose signature is on any Note to hold, at the time such Note is authenticated, the same or any other office at the Company. 

(B) Authentication by the Trustee and Delivery. 

(i) No Note will be valid until it is authenticated by the Trustee. A Note will be deemed to be duly authenticated only when an
authorized signatory of the Trustee (or a duly appointed authenticating agent) manually signs the certificate of authentication of such Note. 

(ii) The Trustee will cause an authorized signatory of the Trustee (or a duly appointed authenticating agent) to manually sign
the certificate of authentication of a Note only if (1) the Company delivers such Note to the Trustee; (2) such Note is executed by the Company in accordance with Section 2.02(A); and (3) the Company delivers
a Company Order to the Trustee that (a) requests the Trustee to authenticate such Note; and (b) sets forth the name of the Holder of such Note and the date as of which such Note is to be authenticated. If such Company Order also requests
the Trustee to deliver such Note to any Holder or to the Depositary, then the Trustee will promptly deliver such Note in accordance with such Company Order. 

(iii) The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. A duly appointed
authenticating agent may authenticate Notes whenever the Trustee may do so under this Indenture, and a Note authenticated as provided in this Indenture by such an agent will be deemed, for purposes of this Indenture, to be authenticated by the
Trustee. Each duly appointed authenticating agent will have the same rights to deal with the Company as the Trustee would have if it were performing the duties that the authentication agent was validly appointed to undertake. 

Section 2.03. INITIAL NOTES AND ADDITIONAL NOTES. 

(A) Initial Notes. On the Issue Date, there will be originally issued two hundred fifty million dollars ($250,000,000) aggregate
principal amount of Notes, subject to the provisions of this Indenture (including Section 2.02). Notes issued pursuant to this Section 2.03(A), and any Notes issued in exchange therefor or in
substitution thereof, are referred to in this Indenture as the “Initial Notes.” 

  
 - 15 - 

 (B) Additional Notes. The Company may, subject to the provisions of this Indenture
(including Section 2.02), originally issue additional Notes with the same terms as the Initial Notes (except, to the extent applicable, with respect to the date as of which interest begins to accrue on such additional Notes
and the first Interest Payment Date and the Last Original Issue Date of such additional Notes), which additional Notes will, subject to the foregoing, be considered to be part of the same series of, and rank equally and ratably with all other, Notes
issued under this Indenture; provided, however, that if any such additional Notes are not fungible with other Notes issued under this Indenture for U.S. federal income tax or U.S. federal securities law purposes, then such additional
Notes will be identified by a separate CUSIP number or by no CUSIP number. 
 Section 2.04. METHOD OF
PAYMENT. 
 (A) Global Notes. The Company will pay, or cause the Paying Agent to pay, the principal (whether due
upon maturity on the Maturity Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, interest on, and any cash Conversion Consideration for, any Global Note to the Depositary by wire transfer of
immediately available funds no later than the time the same is due as provided in this Indenture. 
 (B) Physical Notes. The Company
will pay, or cause the Paying Agent to pay, the principal (whether due upon maturity on the Maturity Date, Redemption on a Redemption Date or repurchase on a Fundamental Change Repurchase Date or otherwise) of, interest on, and any cash Conversion
Consideration for, any Physical Note no later than the time the same is due as provided in this Indenture as follows: (i) if the principal amount of such Physical Note is at least five million dollars ($5,000,000) (or such lower amount as the
Company may choose in its sole and absolute discretion) and the Holder of such Physical Note entitled to such payment has delivered to the Paying Agent or the Trustee, no later than the time set forth in the immediately following sentence, a written
request that the Company make such payment by wire transfer to an account of such Holder within the United States, by wire transfer of immediately available funds to such account; and (ii) in all other cases, by check mailed to the address of
the Holder of such Physical Note entitled to such payment as set forth in the Register. To be timely, such written request must be so delivered no later than the Close of Business on the following date: (x) with respect to the payment of any
interest due on an Interest Payment Date, the immediately preceding Regular Record Date; (y) with respect to any cash Conversion Consideration, the relevant Conversion Date; and (z) with respect to any other payment, the date that is
fifteen (15) calendar days immediately before the date such payment is due. 
 Section 2.05. ACCRUAL OF
INTEREST; DEFAULTED AMOUNTS; WHEN PAYMENT DATE IS NOT A BUSINESS DAY. 

(A) Accrual of Interest. Each Note will accrue interest at a rate per annum equal to 2.25% (the “Stated Interest”),
plus any Additional Interest and Special Interest that may accrue pursuant to Sections 3.04 and 7.03, respectively. Stated Interest on each Note will (i) accrue from, and including, the most recent date to which Stated
Interest has been paid or duly provided for (or, if no Stated Interest has theretofore been paid or duly provided for, the date set forth in the certificate representing such Note as the date from, and including, which Stated Interest will begin

  
 - 16 - 

 
to accrue in such circumstance) to, but excluding, the date of payment of such Stated Interest; and (ii) be, subject to Sections 4.02(D), 4.03(F) and 5.02(D) (but
without duplication of any payment of interest), payable semi-annually in arrears on each Interest Payment Date, beginning on the first Interest Payment Date set forth in the certificate representing such Note, to the Holder of such Note as of the
Close of Business on the immediately preceding Regular Record Date. Stated Interest, and, if applicable, Additional Interest and Special Interest, on the Notes will be computed on the basis of a 360-day year
comprised of twelve 30-day months. 
 (B) Defaulted Amounts. If the Company fails to pay any
amount (a “Defaulted Amount”) payable on a Note on or before the due date therefor as provided in this Indenture, then, regardless of whether such failure constitutes an Event of Default, (i) such Defaulted Amount will
forthwith cease to be payable to the Holder of such Note otherwise entitled to such payment; (ii) to the extent lawful, interest (“Default Interest”) will accrue on such Defaulted Amount at a rate per annum equal to the rate
per annum at which Stated Interest accrues, from, and including, such due date to, but excluding, the date of payment of such Defaulted Amount and Default Interest; (iii) such Defaulted Amount and Default Interest will be paid on a payment date
selected by the Company to the Holder of such Note as of the Close of Business on a special record date selected by the Company, provided that such special record date must be no more than fifteen (15), nor less than ten (10), calendar days
before such payment date; and (iv) at least fifteen (15) calendar days before such special record date, the Company will send notice to the Trustee and the Holders that states such special record date, such payment date and the amount of
such Defaulted Amount and Default Interest to be paid on such payment date. 
 (C) Delay of Payment when Payment
Date is Not a Business Day. If the due date for a payment on a Note as provided in this Indenture is not a Business Day, then, notwithstanding anything to the contrary in this Indenture or the Notes, such payment may be made on the
immediately following Business Day and no interest will accrue on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable Place of Payment is authorized or required by
law or executive order to close or be closed will be deemed not to be a “Business Day.” 
 Section 2.06. REGISTRAR,
PAYING AGENT AND CONVERSION AGENT. 
 (A) Generally.
The Company will maintain (i) an office or agency in the continental United States where Notes may be presented for registration of transfer or for exchange (the “Registrar”); (ii) an office or agency in the continental United
States where Notes may be presented for payment (the “Paying Agent”); and (iii) an office or agency in the continental United States where Notes may be presented for conversion (the “Conversion Agent”). If the
Company fails to maintain a Registrar, Paying Agent or Conversion Agent, then the Trustee will act as such and shall receive reasonable compensation therefor in accordance with this Indenture and any other agreement between the Trustee and the
Company. For the avoidance of doubt, the Company or any of its Subsidiaries may act as Registrar, Paying Agent or Conversion Agent without prior notice to Holders. 

  
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 (B) Duties of the Registrar. The Registrar will keep a record (the
“Register”) of the names and addresses of the Holders, the Notes held by each Holder and the transfer, exchange, repurchase, Redemption and conversion of Notes. Absent manifest error, the entries in the Register will be conclusive
and the Company and the Trustee may treat each Person whose name is recorded as a Holder in the Register as a Holder for all purposes. The Register will be in written form or in any form capable of being converted into written form reasonably
promptly. 
 (C) Co-Agents; Company’s Right to Appoint Successor Registrars,
Paying Agents and Conversion Agents. The Company may appoint one or more co-Registrars, co-Paying Agents and co-Conversion
Agents, each of whom will be deemed to be a Registrar, Paying Agent or Conversion Agent, as applicable, under this Indenture. Subject to Section 2.06(A), the Company may change any Registrar, Paying Agent or Conversion
Agent (including appointing itself or any of its Subsidiaries to act in such capacity) without notice to any Holder. The Company will notify the Trustee (and, upon request, any Holder) of the name and address of each Note Agent, if any, not a party
to this Indenture and will enter into an appropriate agency agreement with each such Note Agent, which agreement will implement the provisions of this Indenture that relate to such Note Agent. 

(D) Initial Appointments. The Company appoints the Trustee as the initial Paying Agent, the initial Registrar and the initial
Conversion Agent. 
 Section 2.07. PAYING AGENT AND CONVERSION AGENT
TO HOLD PROPERTY IN TRUST. 
 The Company will require each
Paying Agent or Conversion Agent that is not the Trustee to agree in writing that such Note Agent will (A) hold in trust for the benefit of Holders or the Trustee all money and other property held by such Note Agent for payment or delivery due
on the Notes; and (B) notify the Trustee of any default by the Company in making any such payment or delivery. The Company, at any time, may, and the Trustee, while any Default continues, may, require a Paying Agent or Conversion Agent to pay
or deliver, as applicable, all money and other property held by it to the Trustee, after which payment or delivery, as applicable, such Note Agent (if not the Company or any of its Subsidiaries) will have no further liability for such money or
property. If the Company or any of its Subsidiaries acts as Paying Agent or Conversion Agent, then (A) it will segregate and hold in a separate trust fund for the benefit of the Holders or the Trustee all money and other property held by it as
Paying Agent or Conversion Agent; and (B) references in this Indenture or the Notes to the Paying Agent or Conversion Agent holding cash or other property, or to the delivery of cash or other property to the Paying Agent or Conversion Agent, in
each case for payment or delivery to any Holders or the Trustee or with respect to the Notes, will be deemed to refer to cash or other property so segregated and held separately, or to the segregation and separate holding of such cash or other
property, respectively. Upon the occurrence of any event pursuant to in clause (ix) or (x) of Section 7.01(A) with respect to the Company (or with respect to any Subsidiary of the Company acting as
Paying Agent or Conversion Agent), the Trustee will serve as the Paying Agent and Conversion Agent, as applicable, for the Notes. 
 Section 2.08.
HOLDER LISTS. 
 If the Trustee is not the Registrar, the Company will furnish to the Trustee, no later
than seven (7) Business Days before each Interest Payment Date, and at such other times as the Trustee may request, a list, in such form and as of such date or time as the Trustee may reasonably require, of the names and addresses of the
Holders. 

  
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 Section 2.09. LEGENDS. 

(A) Global Note Legend. Each Global Note will bear the Global Note Legend (or any similar legend, not inconsistent with this Indenture,
required by the Depositary for such Global Note). 
 (B) Non-Affiliate Legend. Each Note will
bear the Non-Affiliate Legend. 
 (C) Restricted Note Legend. Subject to
Section 2.12, 
 (i) each Note that is a Transfer-Restricted Security will bear the Restricted Note
Legend; and 
 (ii) if a Note is issued in exchange for, in substitution of, or to effect a partial conversion of, another
Note (such other Note being referred to as the “old Note” for purposes of this Section 2.09(C)(ii)), including pursuant to Section 2.10(B), 2.10(C), 2.11 or 2.13, such Note will
bear the Restricted Note Legend if such old Note bore the Restricted Note Legend at the time of such exchange or substitution, or on the related Conversion Date with respect to such conversion, as applicable; provided, however, that
such Note need not bear the Restricted Note Legend if such Note does not constitute a Transfer-Restricted Security immediately after such exchange or substitution, or as of such Conversion Date, as applicable. 

(D) Other Legends. A Note may bear any other legend or text, not inconsistent with this Indenture, as may be required by applicable law
or by any securities exchange or automated quotation system on which such Note is traded or quoted. 
 (E) Acknowledgement and Agreement
by the Holders. A Holder’s acceptance of any Note bearing any legend required by this Section 2.09 will constitute such Holder’s acknowledgement of, and agreement to comply with, the restrictions set forth in
such legend. 
 (F) Restricted Share Legend. 

(i) Each Conversion Share will bear the Restricted Share Legend if the Note upon the conversion of which such Conversion Share
was issued was (or would have been had it not been converted) a Transfer-Restricted Security at the time such Conversion Share was issued; provided, however, that such Conversion Share need not bear the Restricted Share Legend if the
Company determines, in its reasonable discretion, that such Conversion Share need not bear the Restricted Share Legend. 

(ii) Notwithstanding anything to the contrary in this Section 2.09(F), a Conversion Share need not
bear a Restricted Share Legend if such Conversion Share is issued in an uncertificated form that does not permit affixing legends thereto, provided the Company takes measures (including the assignment thereto of a “restricted” CUSIP
number) that it reasonably deems appropriate to enforce the transfer restrictions referred to in the Restricted Share Legend. 

  
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 Section 2.10. TRANSFERS AND EXCHANGES;
CERTAIN TRANSFER RESTRICTIONS. 
 (A) Provisions Applicable to All Transfers and
Exchanges. 
 (i) Subject to this Section 2.10, Physical Notes and beneficial interests in
Global Notes may be transferred or exchanged from time to time and the Registrar will record each such transfer or exchange in the Register. 

(ii) Each Note issued upon transfer or exchange of any other Note (such other Note being referred to as the “old
Note” for purposes of this Section 2.10(A)(ii)) or portion thereof in accordance with this Indenture will be the valid obligation of the Company, evidencing the same indebtedness, and entitled to the same benefits
under this Indenture, as such old Note or portion thereof, as applicable. 
 (iii) The Company, the Trustee and the Note
Agents will not impose any service charge on any Holder for any exchange or registration of transfer of Notes as a result of the name of the Holder of new Notes issued upon such exchange or registration of transfer being different from the name of
the Holder of the old Notes surrendered for exchange or registration of transfer, or in connection with any conversion of Notes, but the Company, the Trustee, the Registrar and the Conversion Agent may require payment of a sum sufficient to cover
any transfer tax or similar governmental charge that may be imposed in connection with any transfer, exchange or conversion of Notes, other than exchanges pursuant to Sections 2.11, 2.17 or 8.05 not involving any
transfer. 
 (iv) Notwithstanding anything to the contrary in this Indenture or the Notes, a Note may not be transferred or
exchanged in part unless the portion to be so transferred or exchanged is in an Authorized Denomination. 
 (v) The Trustee
will have no obligation or duty to monitor, determine or inquire as to compliance with any transfer restrictions imposed under this Indenture or applicable law with respect to any Security, other than to require the delivery of such certificates or
other documentation or evidence as expressly required by this Indenture and to examine the same to determine substantial compliance as to form with the requirements of this Indenture. 

(vi) Each Note issued upon transfer of, or in exchange for, another Note will bear each legend, if any, required by
Section 2.09. 
 (vii) Upon satisfaction of the requirements of this Indenture to effect a transfer
or exchange of any Note, the Company will cause such transfer or exchange to be effected as soon as reasonably practicable but in no event later than the second (2nd) Business Day after the date of such satisfaction. 

(viii) For the avoidance of doubt, and subject to the terms of this Indenture, as used in this
Section 2.10, an “exchange” of a Global Note or a Physical Note includes (x) an exchange effected for the sole purpose of removing any Restricted Note Legend affixed to such Global Note or Physical Note; and
(y) if such Global Note or a Physical Note is identified by a “restricted” CUSIP number, an exchange effected for the sole purpose of causing such Global Note or a Physical Note to be identified by an “unrestricted” CUSIP
number. 

  
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 (ix) Neither the Trustee nor any Note Agent will have any responsibility for
any action taken or not taken by the Depositary. 
 (B) Transfers and Exchanges of Global Notes. 

(i) Subject to the immediately following sentence, no Global Note may be transferred or exchanged in whole except (x) by
the Depositary to a nominee of the Depositary; (y) by a nominee of the Depositary to the Depositary or to another nominee of the Depositary; or (z) by the Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary. No Global Note (or any portion thereof) may be transferred to, or exchanged for, a Physical Note; provided, however, that a Global Note will be exchanged, pursuant to customary procedures, for one or more Physical
Notes if: 
 (1) (x) the Depositary notifies the Company or the Trustee that the Depositary is unwilling or unable to
continue as depositary for such Global Note or (y) the Depositary ceases to be a “clearing agency” registered under Section 17A of the Exchange Act and, in each case, the Company fails to appoint a successor Depositary within
ninety (90) days of such notice or cessation; 
 (2) an Event of Default has occurred and is continuing and the Company,
the Trustee or the Registrar has received a written request from the Depositary, or from a holder of a beneficial interest in such Global Note, to exchange such Global Note or beneficial interest, as applicable, for one or more Physical Notes; or

 (3) the Company, in its sole discretion, permits the exchange of any beneficial interest in such Global Note for one or
more Physical Notes at the request of the owner of such beneficial interest. 
 (ii) Upon satisfaction of the requirements of
this Indenture to effect a transfer or exchange of any Global Note (or any portion thereof): 
 (1) the Trustee will reflect
any resulting decrease of the principal amount of such Global Note by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of such Global Note (and, if such notation results in such Global Note having a
principal amount of zero, the Company may (but is not required to) instruct the Trustee to cancel such Global Note pursuant to Section 2.15); 

(2) if required to effect such transfer or exchange, then the Trustee will reflect any resulting increase of the principal
amount of any other Global Note by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of such other Global Note; 

(3) if required to effect such transfer or exchange, then the Company will issue, execute and deliver, and the Trustee will
authenticate, in each case in accordance with Section 2.02, a new Global Note bearing each legend, if any, required by Section 2.09; and 

  
 - 21 - 

 (4) if such Global Note (or such portion thereof), or any beneficial
interest therein, is to be exchanged for one or more Physical Notes, then the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical
Notes that are in Authorized Denominations (not to exceed, in the aggregate, the principal amount of such Global Note to be so exchanged), are registered in such name(s) as the Depositary specifies (or as otherwise determined pursuant to customary
procedures) and bear each legend, if any, required by Section 2.09. 
 (iii) Each transfer or
exchange of a beneficial interest in any Global Note will be made in accordance with the Depositary Procedures. 
 (C) Transfers and
Exchanges of Physical Notes. 
 (i) Subject to this Section 2.10, a Holder of a Physical Note
may (x) transfer such Physical Note (or any portion thereof in an Authorized Denomination) to one or more other Person(s); (y) exchange such Physical Note (or any portion thereof in an Authorized Denomination) for one or more other Physical
Notes in Authorized Denominations having an aggregate principal amount equal to the aggregate principal amount of the Physical Note (or portion thereof) to be so exchanged; and (z) if then permitted by the Depositary Procedures, transfer such
Physical Note (or any portion thereof in an Authorized Denomination) in exchange for a beneficial interest in one or more Global Notes; provided, however, that, to effect any such transfer or exchange, such Holder must: 

(1) surrender such Physical Note to be transferred or exchanged to the office of the Registrar, together with any endorsements
or transfer instruments reasonably required by the Company, the Trustee or the Registrar; and 
 (2) deliver such
certificates, documentation or evidence as may be required pursuant to Section 2.10(D). 
 (ii)
Upon the satisfaction of the requirements of this Indenture to effect a transfer or exchange of any Physical Note (such Physical Note being referred to as the “old Physical Note” for purposes of this
Section 2.10(C)(ii)) of a Holder (or any portion of such old Physical Note in an Authorized Denomination): 

(1) such old Physical Note will be promptly cancelled pursuant to Section 2.15; 

(2) if such old Physical Note is to be transferred or exchanged only in part, then the Company will issue, execute and deliver,
and the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount
of such old Physical Note not to be transferred or exchanged; (y) are registered in the name of such Holder; and (z) bear each legend, if any, required by Section 2.09; 

  
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 (3) in the case of a transfer: 

(a) to the Depositary or a nominee thereof that will hold its interest in such old Physical Note (or such portion thereof) to
be so transferred in the form of one or more Global Notes, the Trustee will reflect an increase of the principal amount of one or more existing Global Notes by notation on the “Schedule of Exchanges of Interests in the Global Note” forming
part of such Global Note(s), which increase(s) are in Authorized Denominations and aggregate to the principal amount to be so transferred, and which Global Note(s) bear each legend, if any, required by Section 2.09;
provided, however, that if such transfer cannot be so effected by notation on one or more existing Global Notes (whether because no Global Notes bearing each legend, if any, required by Section 2.09 then
exist, because any such increase will result in any Global Note having an aggregate principal amount exceeding the maximum aggregate principal amount permitted by the Depositary or otherwise), then the Company will issue, execute and deliver, and
the Trustee will authenticate, in each case in accordance with Section 2.02, one or more Global Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount to be
so transferred; and (y) bear each legend, if any, required by Section 2.09; and 
 (b) to a
transferee that will hold its interest in such old Physical Note (or such portion thereof) to be so transferred in the form of one or more Physical Notes, the Company will issue, execute and deliver, and the Trustee will authenticate, in each case
in accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount to be so transferred; (y) are registered in
the name of such transferee; and (z) bear each legend, if any, required by Section 2.09; and 

(4) in the case of an exchange, the Company will issue, execute and deliver, and the Trustee will authenticate, in each case in
accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount to be so exchanged; (y) are registered in the
name of the Person to whom such old Physical Note was registered; and (z) bear each legend, if any, required by Section 2.09. 

(D) Requirement to Deliver Documentation and Other Evidence. If a Holder of any Note that is identified by a “restricted”
CUSIP number or that bears a Restricted Note Legend or is a Transfer-Restricted Security requests to: 
 (i) cause such Note
to be identified by an “unrestricted” CUSIP number; 
 (ii) remove such Restricted Note Legend; or 

(iii) register the transfer of such Note to the name of another Person, 

  
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 then the Company, the Trustee and the Registrar may refuse to effect such identification, removal or
transfer, as applicable, unless there is delivered to the Company, the Trustee and the Registrar such certificates or other documentation or evidence as the Company, the Trustee and the Registrar may reasonably require to determine that such
identification, removal or transfer, as applicable, complies with the Securities Act and other applicable securities laws; provided, however, that no such certificates, documentation or evidence need be so delivered (w) on and
after the Free Trade Date with respect to such Note unless the Company determines, in its reasonable discretion, that such Note is not eligible to be offered, sold or otherwise transferred pursuant to Rule 144 or otherwise without any requirements
as to volume, manner of sale, availability of current public information or notice under the Securities Act; (x) in connection with any transfer of such Note pursuant to Rule 144A; (y) in connection with any transfer of such Note to the
Company or one of its Subsidiaries; or (z) in connection with any transfer of such Note pursuant to an effective registration statement under the Securities Act. All Notes presented or surrendered for registration of transfer or exchange will
be duly endorsed, or accompanied by a written instrument or instruments of transfer in accordance with the Trustee’s customary procedures, and such Notes will be duly endorsed by the Holder thereof or his attorney duly authorized in writing, in
each case subject to the Depositary Procedures in the case of any Global Note. Except as otherwise provided in this Indenture, and in addition to the requirements set forth in the Restricted Note Legend, in connection with any transfer of a
Transfer-Restricted Security, any request for transfer thereof will be accompanied by a certification to the Trustee relating to the manner of such transfer substantially in the form of the “Transferor Acknowledgement” set forth in
Exhibit A. 
 (E) Transfers of Notes Subject to Redemption, Repurchase or Conversion. Notwithstanding anything to the contrary
in this Indenture or the Notes, the Company, the Trustee and the Registrar will not be required to register the transfer of or exchange any Note that (i) has been surrendered for conversion, except to the extent that any portion of such Note is
not subject to conversion; (ii) is subject to a Fundamental Change Repurchase Notice validly delivered, and not withdrawn, pursuant to Section 4.02(F), except to the extent that any portion of such Note is not subject
to such notice or the Company fails to pay the applicable Fundamental Change Repurchase Price when due; or (iii) has been selected for Redemption pursuant to a Redemption Notice, except to the extent that any portion of such Note is not subject
to Redemption or the Company fails to pay the applicable Redemption Price when due. 
 Section 2.11. EXCHANGE AND
CANCELLATION OF NOTES TO BE CONVERTED, REDEEMED OR REPURCHASED. 

(A) Partial Conversions, Redemptions and Repurchases of Physical Notes. If only a portion of a Physical Note of a Holder is to be
converted pursuant to Article 5 or repurchased pursuant to a Repurchase Upon Fundamental Change or Redemption, then, as soon as reasonably practicable after such Physical Note is surrendered for such conversion, Redemption or repurchase, the
Company will cause such Physical Note to be exchanged, pursuant and subject to Section 2.10(C), for (i) one or more Physical Notes that are in Authorized Denominations and have an aggregate principal amount equal to
the principal amount of such Physical Note that is not to be so converted, redeemed or repurchased, as applicable, and deliver such Physical Note(s) to such Holder; and (ii) a Physical Note having a principal amount equal to the principal
amount to be so converted, redeemed or repurchased, as applicable, which Physical Note will be converted, redeemed or repurchased, as applicable, pursuant to the terms of this Indenture; provided, however, that the Physical Note
referred to in this clause (ii) need not be issued at any time after which such principal amount subject to such conversion, Redemption or repurchase, as applicable, is deemed to cease to be outstanding pursuant to
Section 2.18. 

  
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 (B) Cancellation of Converted, Redeemed and Repurchased Notes. 

(i) Physical Notes. If a Physical Note (or any portion thereof that has not theretofore been exchanged pursuant to
Section 2.11(A)) of a Holder is to be converted pursuant to Article 5 or repurchased pursuant to a Repurchase Upon Fundamental Change or subject to Redemption, then, promptly after the later of the time such Physical
Note (or such portion) is deemed to cease to be outstanding pursuant to Section 2.18 and the time such Physical Note is surrendered for such conversion or repurchase, as applicable, (1) such Physical Note will be
cancelled pursuant to Section 2.15; and (2) in the case of a partial conversion, Redemption or repurchase, the Company will issue, execute and deliver to such Holder, and the Trustee will authenticate, in each case in
accordance with Section 2.02, one or more Physical Notes that (x) are in Authorized Denominations and have an aggregate principal amount equal to the principal amount of such Physical Note that is not to be so
converted, redeemed or repurchased; (y) are registered in the name of such Holder; and (z) bear each legend, if any, required by Section 2.09. 

(ii) Global Notes. If a Global Note (or any portion thereof) is to be converted pursuant to Article 5 or
repurchased pursuant to a Repurchase Upon Fundamental Change or subject to Redemption, then, promptly after the time such Note (or such portion) is deemed to cease to be outstanding pursuant to Section 2.18, the Trustee
will reflect a decrease of the principal amount of such Global Note in an amount equal to the principal amount of such Global Note to be so converted, redeemed or repurchased, as applicable, by notation on the “Schedule of Exchanges of
Interests in the Global Note” forming part of such Global Note (and, if the principal amount of such Global Note is zero following such notation, cancel such Global Note pursuant to Section 2.15). 

Section 2.12. REMOVAL OF TRANSFER RESTRICTIONS. 

Without limiting the generality of any other provision of this Indenture (including Section 3.04), the Restricted
Note Legend affixed to any Note will be deemed, pursuant to this Section 2.12 and the footnote to such Restricted Note Legend, to be removed therefrom upon the Company’s delivery to the Trustee of notice, signed on
behalf of the Company by one (1) of its Officers, to such effect (and, for the avoidance of doubt, such notice need not be accompanied by an Officer’s Certificate or an Opinion of Counsel in order to be effective to cause such Restricted
Note Legend to be deemed to be removed from such Note unless a new Note is to be authenticated in connection therewith). If such Note bears a “restricted” CUSIP or ISIN number at the time of such delivery, then, upon such delivery, such
Note will be deemed, pursuant to this Section 2.12 and the footnotes to the CUSIP and ISIN numbers set forth on the face of the certificate representing such Note, to thereafter bear the “unrestricted” CUSIP and
ISIN numbers identified in such footnotes; provided, however, that if such Note is a Global Note and the Depositary thereof requires a mandatory exchange or other procedure to cause such Global Note to be identified by
“unrestricted” CUSIP and ISIN numbers in the facilities of such Depositary, then (i) the Company will effect such exchange or procedure as soon as reasonably practicable; and (ii) for purposes of
Section 3.04 and the definition of Freely Tradable, such Global Note will not be deemed to be identified by “unrestricted” CUSIP and ISIN numbers until such time as such exchange or procedure is effected. 

  
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 Section 2.13. REPLACEMENT NOTES. 

If a Holder of any Note claims that such Note has been mutilated, lost, destroyed or wrongfully taken, then the Company will issue, execute and
deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, a replacement Note upon surrender to the Trustee of such mutilated Note, or upon delivery to the Trustee of evidence of such loss,
destruction or wrongful taking reasonably satisfactory to the Trustee and the Company. In the case of a lost, destroyed or wrongfully taken Note, the Company and the Trustee may require the Holder thereof to provide such security or indemnity that
is reasonably satisfactory to the Company to protect the Company and the Trustee and that is satisfactory to the Trustee to protect the Trustee from any loss that any of them may suffer if such Note is replaced. 

Every replacement Note issued pursuant to this Section 2.13 will be an additional obligation of the Company and will
be entitled to all of the benefits of this Indenture equally and ratably with all other Notes issued under this Indenture. 
 Section 2.14.
REGISTERED HOLDERS; CERTAIN RIGHTS WITH RESPECT TO GLOBAL NOTES. 

Only the Holder of a Note will have rights under this Indenture as the owner of such Note. Without limiting the generality of the foregoing,
Depositary Participants will have no rights as such under this Indenture with respect to any Global Note held on their behalf by the Depositary or its nominee, or by the Trustee as its custodian, and the Company, the Trustee and the Note Agents, and
their respective agents, may treat the Depositary as the absolute owner of such Global Note for all purposes whatsoever; provided, however, that (A) the Holder of any Global Note may grant proxies and otherwise authorize any
Person, including Depositary Participants and Persons that hold interests in Notes through Depositary Participants, to take any action that such Holder is entitled to take with respect to such Global Note under this Indenture or the Notes; and
(B) the Company and the Trustee, and their respective agents, may give effect to any written certification, proxy or other authorization furnished by the Depositary. 

Section 2.15. CANCELLATION. 

Without limiting the generality of Section 3.08, the Company may at any time deliver Notes to the Trustee for
cancellation. The Registrar, the Paying Agent and the Conversion Agent will forward to the Trustee each Note duly surrendered to them for transfer, exchange, payment or conversion. The Trustee will promptly cancel all Notes so surrendered to it
accordance with its customary procedures. Without limiting the generality of Section 2.03(B), the Company may not originally issue new Notes to replace Notes that it has paid or that have been cancelled upon transfer,
exchange, payment or conversion. 

  
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 Section 2.16. NOTES HELD BY THE
COMPANY OR ITS AFFILIATES. 
 Without limiting the generality of
Section 3.08, in determining whether the Holders of the required aggregate principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company or any of its Affiliates will be deemed not
to be outstanding; provided, however, that, for purposes of determining whether the Trustee is protected in relying on any such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee knows are so owned will
be so disregarded. 
 Section 2.17. TEMPORARY NOTES. 

Until definitive Notes are ready for delivery, the Company may issue, execute and deliver, and the Trustee will authenticate, in each case in
accordance with Section 2.02, temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have variations that the Company considers appropriate for temporary Notes. The Company will
promptly prepare, issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, definitive Notes in exchange for temporary Notes. Until so exchanged, each temporary Note will
in all respects be entitled to the same benefits under this Indenture as definitive Notes. 
 Section 2.18. OUTSTANDING
NOTES. 
 (A) Generally. The Notes that are outstanding at any time will be deemed to be those Notes that, at such
time, have been duly executed and authenticated, excluding those Notes (or portions thereof) that have theretofore been (i) cancelled by the Trustee or delivered to the Trustee for cancellation in accordance with
Section 2.15; (ii) assigned a principal amount of zero by notation on the “Schedule of Exchanges of Interests in the Global Note” forming part of any a Global Note representing such Note; (iii) paid in full
in accordance with this Indenture; or (iv) deemed to cease to be outstanding to the extent provided in, and subject to, clause (B), (C) or (D) of this Section 2.18. 

(B) Replaced Notes. If a Note is replaced pursuant to Section 2.13, then such Note will cease to be
outstanding at the time of its replacement, unless the Trustee and the Company receive proof reasonably satisfactory to them that such Note is held by a “bona fide purchaser” under applicable law. 

(C) Maturing Notes and Notes Called for Redemption or Subject to Repurchase. If, on a Redemption Date, a Fundamental Change Repurchase
Date or the Maturity Date, the Paying Agent holds money sufficient to pay the aggregate Redemption Price, Fundamental Change Repurchase Price or principal amount, respectively, together, in each case, with the aggregate interest, in each case due on
such date, then (unless there occurs a Default in the payment of any such amount) (i) the Notes (or portions thereof) to be redeemed or repurchased, or that mature, on such date will be deemed, as of such date, to cease to be outstanding,
except to the extent provided in Sections 4.02(D), 4.03(F) or 5.02(D); and (ii) the rights of the Holders of such Notes (or such portions thereof), as such, will terminate with respect to such Notes (or such portions
thereof), other than the right to receive the Redemption Price, Fundamental Change Repurchase Price or principal amount, as applicable, of, and accrued and unpaid interest on, such Notes (or such portions thereof), in each case as provided in this
Indenture. 

  
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 (D) Notes to Be Converted. At the Close of Business on the Conversion Date for any
Note (or any portion thereof) to be converted, such Note (or such portion) will (unless there occurs a Default in the delivery of the Conversion Consideration or interest due, pursuant to Section 5.03(B) or
Section 5.02(D), upon such conversion) be deemed to cease to be outstanding, except to the extent provided in Section 5.02(D) or Section 5.08. 

(E) Cessation of Accrual of Interest. Except as provided in Sections 4.02(D), 4.03(F) or 5.02(D), interest will
cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this Section 2.18, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other
property due on such Note. 
 Section 2.19. REPURCHASES BY THE COMPANY. 

Without limiting the generality of Section 2.15, the Company may, from time to time, repurchase Notes in open market
purchases or in negotiated transactions without delivering prior notice to Holders. 
 Section 2.20. CUSIP AND ISIN
NUMBERS. 
 Subject to Section 2.12, the Company may use one or more CUSIP or ISIN numbers to
identify any of the Notes, and, if so, the Company and the Trustee will use such CUSIP or ISIN number(s) in notices to Holders; provided, however, that (i) each such notice will state that no representation is made by the Trustee
as to the correctness or accuracy of any such CUSIP or ISIN number; and (ii) the effectiveness of any such notice will not be affected by any defect in, or omission of, any such CUSIP or ISIN number. The Company will promptly notify the Trustee
of any change in the CUSIP or ISIN number(s) identifying any Notes. 
 Article 3. COVENANTS 

Section 3.01. PAYMENT ON NOTES. 

(A) Generally. The Company will pay or cause to be paid all the principal of, the Redemption Price or Fundamental Change Repurchase
Price for, interest on, and other amounts due with respect to, the Notes on the dates and in the manner set forth in this Indenture. 
 (B)
Deposit of Funds. Before 11:00 A.M., New York City time, on each Fundamental Change Repurchase Date, Redemption Date or Interest Payment Date, and on the Maturity Date or any other date on which any cash amount is due on the Notes, the
Company will deposit, or will cause there to be deposited, with the Paying Agent cash, in funds immediately available on such date, sufficient to pay the cash amount due on the applicable Notes on such date. The Paying Agent will return to the
Company, as soon as practicable, any money not required for such purpose. 
 Section 3.02. EXCHANGE ACT
REPORTS. 
 (A) Generally. The Company will send to the Trustee copies of all reports that the Company is required
to file with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act within fifteen (15) calendar days after the date that the Company is required to file the same (after giving effect to all applicable grace periods under the
Exchange Act); provided, however, that the Company need not send to the Trustee any material for which the Company has received, or is 

  
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seeking in good faith and has not been denied, confidential treatment by the SEC. Any report that the Company files with the SEC through the EDGAR system (or any successor thereto) will be deemed
to be sent to the Trustee at the time such report is so filed via the EDGAR system (or such successor), it being understood that the Trustee will not be responsible for determining whether such filings have been made or for their timeliness or their
content. Upon the request of any Holder, the Company will provide to such Holder a copy of any report that the Company has sent the Trustee pursuant to this Section 3.02(A), other than a report that is deemed to be sent to
the Trustee pursuant to the preceding sentence. 
 (B) Trustee’s Disclaimer. Delivery of reports, information and documents to
the Trustee under Section 3.02(A) is for informational purposes only and the information and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or
determinable from information contained therein including the Company’s compliance with any of its covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificate). The Trustee will have no
obligation whatsoever to monitor or confirm, on a continuing basis or otherwise, the Company’s compliance with its covenants or with respect to any reports or other documents filed with the SEC via the EDGAR system (or any successor thereto) or
any other website, or to participate in any conference calls. 
 Section 3.03. RULE 144A INFORMATION. 

If the Company is not subject to Section 13 or 15(d) of the Exchange Act at any time when any Notes or Conversion Shares are outstanding
and constitute “restricted securities” (as defined in Rule 144), then the Company (or its successor) will promptly provide, to the Trustee and, upon written request, to any Holder, beneficial owner or prospective purchaser of such Notes or
Conversion Shares, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act to facilitate the resale of such Notes or Conversion Shares pursuant to Rule 144A. The Company (or its successor) will take such further
action as any Holder or beneficial owner of such Notes or Conversion Shares may reasonably request to enable such Holder or beneficial owner to sell such Notes or Conversion Shares pursuant to Rule 144A. 

Section 3.04. ADDITIONAL INTEREST. 

(A) Accrual of Additional Interest. 

(i) If, at any time during the six (6) month period beginning on, and including, the date that is six (6) months
after the Last Original Issue Date of any Note, 
 (1) the Company fails to timely file any report (other than Form 8-K reports) that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect to all applicable grace periods thereunder); or 

(2) such Note is not otherwise Freely Tradable, 

then Additional Interest will accrue on such Note for each day during such period on which such failure is continuing or such Note is not
Freely Tradable. 
 (ii) In addition, Additional Interest will accrue on a Note on each day on which such Note is not Freely
Tradable on or after the De-Legending Deadline Date of such Note. 

  
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 (B) Amount and Payment of Additional Interest. Any Additional Interest that accrues
on a Note pursuant to Section 3.04(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the
principal amount thereof for the first ninety (90) days on which Additional Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof; provided, however, that in
no event will Additional Interest that may accrue as a result of the Company’s failure to timely file any report (other than Form 8-K reports) that it is required to file with the SEC pursuant to
Section 13 or 15(d) of the Exchange Act, together with any Special Interest, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Additional Interest that accrues
on a Note will be in addition to the Stated Interest that accrues on such Note and, subject to the proviso of the immediately preceding sentence, in addition to any Special Interest that accrues on such Note. 

(C) Notice of Accrual of Additional Interest; Trustee’s Disclaimer. The Company will send notice to the Holder of each Note, and
to the Trustee, of the commencement and termination of any period in which Additional Interest accrues on such Note. In addition, if Additional Interest accrues on any Note, then, no later than five (5) Business Days before each date on which
such Additional Interest is to be paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating (i) that the Company is obligated to pay Additional Interest on such Note on such date of payment; and
(ii) the amount of such Additional Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any Additional Interest is payable or the amount thereof. 

(D) The accrual of Additional Interest will be the exclusive remedy available to Holders for the failure of their Notes to become Freely
Tradable. 
 Section 3.05. ADDITIONAL AMOUNTS. 

(A) Requirement to Pay Additional Amounts. All payments and deliveries made by, or on behalf of, the Company or any successor under or
with respect to the Notes (including payment of the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, or any premium or interest (including Additional Interest) on, or the delivery of any Conversion Consideration due
upon conversion (together with payments of cash for any fractional share) of, any Note) will be made without withholding or deduction for, or on account of, any present or future Taxes, unless such withholding or deduction is required by law or
regulation or by governmental policy having the force of law. If any Taxes imposed or levied by or on behalf of the Cayman Islands or any jurisdiction (or any political subdivision or taxing authority thereof or therein) in which the Company or any
Successor Corporation is, for tax purposes, organized or resident or doing business or through which payment is made or deemed to be made (each such jurisdiction, subdivision or authority, as applicable, a “Relevant Taxing
Jurisdiction”) are required to be withheld or deducted from any payments or deliveries made under or with respect to the Notes, then, subject to Section 4.03(C)(ii), the Company or such Successor Corporation, as
applicable, will pay or deliver to the Holder of each Note such additional amounts (the “Additional Amounts”) as may be necessary to ensure that the net amount received by the beneficial owner of

  
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such Note after such withholding or deduction (and after withholding or deducting any Taxes on the Additional Amounts) will equal the amounts that would have been received by such beneficial
owner had no such withholding or deduction been required; provided, however, that such obligation to pay Additional Amounts will not apply to: 

(i) any Tax that would not have been imposed but for: 

(1) the existence of any present or former connection between the Holder or beneficial owner of such Note and the Relevant
Taxing Jurisdiction (other than merely holding or being a beneficial owner of such Note or the receipt or enforcement of payments thereunder), including such Holder or beneficial owner being or having been a national, domiciliary or resident, or
treated as a resident, of, or being or having been physically present or engaged in a trade or business, or having had a permanent establishment, in, such Relevant Taxing Jurisdiction; 

(2) in cases where presentation of such Note is required to receive such payment or delivery, the presentation of such Note
after a period of thirty (30) days after the later of (x) the date on which such payment or delivery became due and payable or deliverable, as applicable, pursuant to the terms of this Indenture and (y) the date such payment or
delivery was made or duly provided for, except, in each case, to the extent that such Holder or beneficial owner would have been entitled to Additional Amounts if it presented such Note for payment or delivery, as applicable, at the end of such
thirty (30) day period; or 
 (3) the failure of such Holder or beneficial owner to comply with a timely request from
the Company or the Successor Corporation, addressed to such Holder or beneficial owner, to (x) provide certification, information, documentation or other evidence concerning such Holder’s or beneficial owner’s nationality, residence,
identity or connection with such Relevant Taxing Jurisdiction; or (y) make any declaration or satisfy any other reporting requirement relating to such matters, in each case if and to the extent that such Holder or beneficial owner is legally
entitled without material burden to comply with such request and due and timely compliance with such request is required by statute, regulation or administrative practice of such Relevant Taxing Jurisdiction in order to reduce or eliminate such
withholding or deduction; 
 (ii) any estate, inheritance, gift, sale, transfer, personal property or similar Tax; 

(iii) any tax that is payable other than by withholding or deduction from payments or deliveries under or with respect to the
Notes; 
 (iv) any withholding or deduction required by (x) sections 1471 through 1474 of the Internal Revenue Code and
any current or future U.S. Treasury Regulations or rulings promulgated thereunder; (y) any inter-governmental agreement between the United States and any other non-U.S. jurisdiction to implement FATCA or
any law enacted by such other jurisdiction to give effect to such agreement; or (z) any agreement with the U.S. Internal Revenue Service pursuant to Section 1471(b)(1) of the Internal Revenue Code; 

  
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 (v) any taxes imposed on or with respect to any payment by the Company to
such Holder if such Holder is a fiduciary, partnership or person other than the sole beneficial owner of such payment, to the extent that such payment would be required, under the laws of such Relevant Taxing Jurisdiction, to be included for tax
purposes in the income of a beneficiary or settlor with respect to such fiduciary, a partner or member of such partnership, or a beneficial owner, who would not have been entitled to such Additional Amounts had such beneficiary, settlor, partner,
member or beneficial owner been the Holder thereof; or 
 (vi) any combination of items referred to in the preceding
clauses (i) through (v), inclusive, above. 
 (B) Indemnification for Transfer Taxes. The Company will pay
and indemnify each Holder and beneficial owner of the Notes for any present or future stamp, issue, registration, value added, court or documentary taxes, or any other excise, property or similar taxes (including penalties, interest and any other
reasonable expenses related thereto) (“Transfer Taxes”) which are levied by any Relevant Taxing Jurisdiction (and in the case of enforcement, any jurisdiction) on or in connection with the execution, delivery, registration or
enforcement of any of the Notes, this Indenture or any other document or instrument referred to herein or the receipt of payments with respect thereto (including the receipt of shares (together with payment of cash for any fractional shares) or
other consideration due upon conversion) (except any tax or duty that is due because the converting Holder requests the shares to be registered in a name other than the Holder’s name). 

(C) For the avoidance of doubt, if any Note is called for a Tax Redemption and the Redemption Date is after a Regular Record Date and on or
before the next Interest Payment Date, then the Company’s obligation to pay Additional Amounts will apply to the interest payment due on such Note on such Interest Payment Date unless such Note is subject to a Tax Redemption Opt-Out Election Notice. 
 (D) Tax Receipts. If the Company or any Successor Corporation are
required to make any deduction or withholding from any payments or deliveries with respect to the Notes, then (i) the Company or such Successor Corporation will deliver to the Trustee official tax receipts (or, if, after expending reasonable
efforts, the Company is unable to obtain such receipts, an Officer’s Certificate evidencing the payment of any applicable taxes so deducted or withheld) evidencing the remittance to the relevant tax authorities of the amounts so withheld or
deducted; and (ii) the Company will make copies of these receipts or evidence, as applicable, available to any Holder or beneficial owner of any Notes upon request. 

(E) Interpretation of Indenture and Notes. All references in this Indenture or the Notes to any payment on, or delivery with respect
to, the Notes (including payment of the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, or any premium or interest (including any Additional Interest) on, or the delivery of any Conversion Consideration due upon
conversion (together with payments of cash for any fractional share) of, any Note) will, to the extent that Additional Amounts are payable in respect thereof, be deemed to include the payment of such Additional Amounts. Neither the Trustee nor the
Paying Agent shall have any obligation to determine whether any Additional Amounts are payable or the amount of such Additional Amounts. 

  
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 (F) Survival of Obligations. The obligations set forth in this
Section 3.05 will survive any transfer of Notes by a Holder (or, in the case of a Global Note, a holder of a beneficial interest therein). 

Section 3.06. COMPLIANCE AND DEFAULT CERTIFICATES. 

(A) Annual Compliance Certificate. Within one hundred and twenty (120) days after August 28, 2020 and each fiscal year of the
Company ending thereafter, the Company will deliver an Officer’s Certificate to the Trustee stating (i) that the signatory thereto has supervised a review of the activities of the Company and its Subsidiaries during such fiscal year with a
view towards determining whether any Default or Event of Default has occurred; and (ii) whether a Default or Event of Default has occurred during the previous year or is continuing (and, if so, describing all such Defaults or Events of Default
and what action the Company is taking or proposes to take with respect thereto). 
 (B) Default Certificate. If a Default or Event of
Default occurs, then the Company will promptly deliver an Officer’s Certificate to the Trustee describing the same and what action the Company is taking or proposes to take with respect thereto. 

Section 3.07. STAY, EXTENSION AND USURY LAWS. 

To the extent that it may lawfully do so, the Company (A) agrees that it will 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 or whenever enacted or in force) that may affect the covenants or the performance of this Indenture; and (B) expressly waives all benefits or
advantages of any such law and agrees that it will not, by resort to any such law, hinder, delay or impede the execution of any power granted to the Trustee by this Indenture, but will suffer and permit the execution of every such power as though no
such law has been enacted. 
 Section 3.08. NOTES ACQUIRED BY THE
COMPANY. 
 The Company will promptly deliver to the Trustee for cancellation all Notes that the Company or any of its
Subsidiaries has purchased or otherwise acquired. 
 Section 3.09. EXISTENCE. 

Subject to Article 6, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its
corporate existence. 
 Article 4. REPURCHASE AND REDEMPTION 

Section 4.01. NO SINKING FUND. 

No sinking fund is required to be provided for the Notes. 

  
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 Section 4.02. RIGHT OF HOLDERS TO
REQUIRE THE COMPANY TO REPURCHASE NOTES UPON A FUNDAMENTAL CHANGE. 

(A) Right of Holders to Require the Company to Repurchase Notes Upon a Fundamental Change. Subject to the other terms of this
Section 4.02, if a Fundamental Change occurs, then each Holder will have the right (the “Fundamental Change Repurchase Right”) to require the Company to repurchase such Holder’s Notes (or any portion
thereof in an Authorized Denomination) on the Fundamental Change Repurchase Date for such Fundamental Change for a cash purchase price equal to the Fundamental Change Repurchase Price. 

(B) Repurchase Prohibited in Certain Circumstances. If the principal amount of the Notes has been accelerated and such acceleration has
not been rescinded on or before the Fundamental Change Repurchase Date for a Repurchase Upon Fundamental Change (including a rescission as a result of the payment of the related Fundamental Change Repurchase Price, and any related interest pursuant
to the proviso to Section 4.02(D), on such Fundamental Change Repurchase Date), then (i) the Company may not repurchase any Notes pursuant to this Section 4.02; and (ii) the Company will
cause any Notes theretofore surrendered for such Repurchase upon Fundamental Change to be returned to the Holders thereof (or, if applicable with respect to Global Notes, cancel any instructions for book-entry transfer to the Company, the Trustee or
the Paying Agent of the applicable beneficial interest in such Notes in accordance with the Depositary Procedures). 
 (C) Fundamental
Change Repurchase Date. The Fundamental Change Repurchase Date for any Fundamental Change will be a Business Day of the Company’s choosing that is no more than thirty five (35), nor less than twenty (20), Business Days after the date the
Company sends the related Fundamental Change Notice pursuant to Section 4.02(E). 
 (D) Fundamental Change
Repurchase Price. The Fundamental Change Repurchase Price for any Note to be repurchased upon a Repurchase Upon Fundamental Change following a Fundamental Change is an amount in cash equal to the principal amount of such Note plus accrued and
unpaid interest on such Note to, but excluding, the Fundamental Change Repurchase Date for such Fundamental Change; provided, however, that if such Fundamental Change Repurchase Date is after a Regular Record Date and on or before the
next Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record Date will be entitled, notwithstanding such Repurchase Upon Fundamental Change, to receive, on or, at the Company’s election,
before such Interest Payment Date, the unpaid interest that would have accrued on such Note to, but excluding, such Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding through such Interest Payment Date,
if such Fundamental Change Repurchase Date is before such Interest Payment Date); and (ii) the Fundamental Change Repurchase Price will not include accrued and unpaid interest on such Note to, but excluding, such Fundamental Change Repurchase
Date. For the avoidance of doubt, if an Interest Payment Date is not a Business Day within the meaning of Section 2.05(C) and such Fundamental Change Repurchase Date occurs on the Business Day immediately after such
Interest Payment Date, then (x) accrued and unpaid interest on Notes to, but excluding, such Interest Payment Date will be paid, in accordance with Section 2.05(C), on the next Business Day to Holders at of the Close
of Business on the immediately preceding Regular Record Date; and (y) the Fundamental Change Repurchase Price will include interest on Notes to be repurchased from, and including, such Interest Payment Date. 

  
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 (E) Fundamental Change Notice. On or before the twentieth (20th) calendar day after
the occurrence of a Fundamental Change, the Company will send to each Holder (and to any beneficial owner of a Global Note, if required by applicable law), the Trustee, the Conversion Agent (if other than the Trustee) and the Paying Agent a notice
of such Fundamental Change (a “Fundamental Change Notice”). 
 Such Fundamental Change Notice must state: 

(i) briefly, the events causing such Fundamental Change; 

(ii) the effective date of such Fundamental Change; 

(iii) the procedures that a Holder must follow to require the Company to repurchase its Notes pursuant to this
Section 4.02, including the deadline for exercising the Fundamental Change Repurchase Right and the procedures for submitting and withdrawing a Fundamental Change Repurchase Notice; 

(iv) the Fundamental Change Repurchase Date for such Fundamental Change; 

(v) the Fundamental Change Repurchase Price per $1,000 principal amount of Notes for such Fundamental Change (and, if such
Fundamental Change Repurchase Date is after a Regular Record Date and on or before the next Interest Payment Date, the amount, manner and timing of the interest payment payable pursuant to the proviso to Section 4.02(D));

 (vi) the name and address of the Paying Agent and the Conversion Agent; 

(vii) the Conversion Rate in effect on the date of such Fundamental Change Notice and a description and quantification of any
adjustments to the Conversion Rate that may result from such Fundamental Change (including pursuant to Section 5.07); 

(viii) that Notes for which a Fundamental Change Repurchase Notice has been duly tendered and not duly withdrawn must be
delivered to the Paying Agent for the Holder thereof to be entitled to receive the Fundamental Change Repurchase Price; 

(ix) that Notes (or any portion thereof) that are subject to a Fundamental Change Repurchase Notice that has been duly tendered
may be converted only if such Fundamental Change Repurchase Notice is withdrawn in accordance with this Indenture; and 
 (x)
the CUSIP and ISIN numbers, if any, of the Notes. 
 Neither the failure to deliver a Fundamental Change Notice nor any defect in a
Fundamental Change Notice will limit the Fundamental Change Repurchase Right of any Holder or otherwise affect the validity of any proceedings relating to any Repurchase Upon Fundamental Change. 

  
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 (F) Procedures to Exercise the Fundamental Change Repurchase Right. 

(i) Delivery of Fundamental Change Repurchase Notice and Notes to Be Repurchased. To exercise its Fundamental Change
Repurchase Right for a Note following a Fundamental Change, the Holder thereof must deliver to the Paying Agent: 
 (1)
before the Close of Business on the Business Day immediately before the related Fundamental Change Repurchase Date (or such later time as may be required by law), a duly completed, written Fundamental Change Repurchase Notice with respect to such
Note; and 
 (2) such Note, duly endorsed for transfer (if such Note is a Physical Note) or by book-entry transfer (if such
Note is a Global Note). 
 The Paying Agent will promptly deliver to the Company a copy of each Fundamental Change Repurchase Notice that it
receives. 
 (ii) Contents of Fundamental Change Repurchase Notices. Each Fundamental Change Repurchase Notice with
respect to a Note must state: 
 (1) if such Note is a Physical Note, the certificate number of such Note; 

(2) the principal amount of such Note to be repurchased, which must be an Authorized Denomination; and 

(3) that such Holder is exercising its Fundamental Change Repurchase Right with respect to such principal amount of such Note;

 provided, however, that if such Note is a Global Note, then such Fundamental Change Repurchase Notice must comply with the
Depositary Procedures (and any such Fundamental Change Repurchase Notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the requirements of this Section 4.02(F)). 

(iii) Withdrawal of Fundamental Change Repurchase Notice. A Holder that has delivered a Fundamental Change Repurchase
Notice with respect to a Note may withdraw such Fundamental Change Repurchase Notice by delivering a written notice of withdrawal to the Paying Agent at any time before the Close of Business on the Business Day immediately before the related
Fundamental Change Repurchase Date. Such withdrawal notice must state: 
 (1) if such Note is a Physical Note, the
certificate number of such Note; 
 (2) the principal amount of such Note to be withdrawn, which must be an Authorized
Denomination; and 
 (3) the principal amount of such Note, if any, that remains subject to such Fundamental Change
Repurchase Notice, which must be an Authorized Denomination; 

  
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 provided, however, that if such Note is a Global Note, then such withdrawal
notice must comply with the Depositary Procedures (and any such withdrawal notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the requirements of this Section 4.02(F)). 

Upon receipt of any such withdrawal notice with respect to a Note (or any portion thereof), the Paying Agent will (x) promptly deliver a
copy of such withdrawal notice to the Company; and (y) if such Note is surrendered to the Paying Agent, cause such Note (or such portion thereof in accordance with Section 2.11, treating such Note as having been then
surrendered for partial repurchase in the amount set forth in such withdrawal notice as remaining subject to repurchase) to be returned to the Holder thereof (or, if applicable with respect to any Global Note, cancel any instructions for book-entry
transfer to the Company, the Trustee or the Paying Agent of the applicable beneficial interest in such Note in accordance with the Depositary Procedures). 

(G) Payment of the Fundamental Change Repurchase Price. Without limiting the Company’s obligation to deposit the Fundamental
Change Repurchase Price within the time proscribed by Section 3.01(B), the Company will cause the Fundamental Change Repurchase Price for a Note (or portion thereof) to be repurchased pursuant to a Repurchase Upon
Fundamental Change to be paid to the Holder thereof on or before the later of (i) the applicable Fundamental Change Repurchase Date; and (ii) the date (x) such Note is delivered to the Paying Agent (in the case of a Physical Note) or
(y) the Depositary Procedures relating to the repurchase, and the delivery to the Paying Agent, of such Holder’s beneficial interest in such Note to be redeemed are complied with (in the case of a Global Note). For the avoidance of doubt,
interest payable pursuant to the proviso to Section 4.02(D) on any Note to be repurchased pursuant to a Repurchase Upon Fundamental Change must be paid pursuant to such proviso regardless of whether such Note is delivered
or such Depositary Procedures are complied with pursuant to the first sentence of this Section 4.02(G). 
 (H)
Third Party May Conduct Repurchase Offer In Lieu of the Company. Notwithstanding anything to the contrary in this Section 4.02, the Company will be deemed to satisfy its obligations under this
Section 4.02 if one or more third parties conduct any Repurchase Upon Fundamental Change and related offer to repurchase Notes otherwise required by this Section 4.02 in a manner that would have
satisfied the requirements of this Section 4.02 if conducted directly by the Company. 
 (I) No
Requirement to Conduct an Offer to Repurchase Notes if the Fundamental Change Results in the Notes Becoming Convertible into an Amount of Cash Exceeding the Fundamental Change Repurchase
Price. Notwithstanding anything to the contrary in this Section 4.02, the Company will not be required to send a Fundamental Change Notice pursuant to Section 4.02(E), or offer to repurchase or
repurchase any Notes pursuant to this Section 4.02, in connection with a Fundamental Change occurring pursuant to clause (B)(ii) (or pursuant to clause (A) that also constitutes a Fundamental Change occurring pursuant
to clause (B)(ii)) of the definition thereof, if (i) such Fundamental Change constitutes an Ordinary Share Change Event whose Reference Property consists entirely of cash in U.S. dollars; (ii) immediately after such Fundamental Change, the
Notes become convertible, pursuant to Section 5.09(A) and, if applicable, Section 5.07, into consideration that consists solely of U.S. dollars in an amount per

  
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$1,000 aggregate principal amount of Notes that equals or exceeds the Fundamental Change Repurchase Price per $1,000 aggregate principal amount of Notes (calculated assuming that the same
includes the maximum amount of accrued interest payable as part of the related Fundamental Change Repurchase Price); and (iii) the Company timely sends the notice relating to such Fundamental Change required pursuant to
Section 5.01(C)(i)(3)(b). 
 (J) Compliance with Applicable Securities Laws. To the extent applicable, the
Company will comply with all U.S. federal and state securities laws in connection with a Repurchase Upon Fundamental Change (including complying with Rules 13e-4 and
14e-1 under the Exchange Act and filing any required Schedule TO, to the extent applicable) so as to permit effecting such Repurchase Upon Fundamental Change in the manner set forth in this Indenture;
provided, however, that, to the extent that the Company’s obligations pursuant to this Section 4.02 conflict with any law or regulation that is applicable to the Company and enacted after the Issue Date,
the Company’s compliance with such law or regulation will not be considered to be a Default of such obligations. 
 (K) Repurchase
in Part. Subject to the terms of this Section 4.02, Notes may be repurchased pursuant to a Repurchase Upon Fundamental Change in part, but only in Authorized Denominations. Provisions of this
Section 4.02 applying to the repurchase of a Note in whole will equally apply to the repurchase of a permitted portion of a Note. 

Section 4.03. RIGHT OF THE COMPANY TO REDEEM
THE NOTES. 
 (A) No Right to Redeem Before February 21, 2023. The Company
may not redeem the Notes at its option at any time before February 21, 2023, except pursuant to a Tax Redemption. 
 (B) Right to
Redeem the Notes on or After February 21, 2023. Subject to the terms of this Section 4.03, the Company has the right, at its election, to redeem all, or any portion in an Authorized Denomination, of
the Notes, at any time and from time to time, on a Redemption Date on or after February 21, 2023 and on or before the fortieth (40th) Scheduled Trading Day immediately before the Maturity Date, for a cash purchase price equal to the
Redemption Price, but only if the Last Reported Sale Price per Ordinary Share exceeds one hundred and thirty percent (130%) of the Conversion Price on (i) each of at least twenty (20) Trading Days (whether or not consecutive) during the
thirty (30) consecutive Trading Days ending on, and including, the Trading Day immediately before the Redemption Notice Date for such Redemption; and (ii) the Trading Day immediately before such Redemption Notice Date. For the avoidance of
doubt, the calling of any Notes for Redemption will constitute a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof with respect to such Notes called for Redemption. 

(C) Right to Redeem the Notes After a Change in Tax Law. 

(i) Generally. Subject to the terms of this Section 4.03, and without limiting the
Company’s right to redeem any Notes pursuant to Section 4.03(B), the Company has the right, at its election, to redeem all, but not less than all, of the Notes, at any time, on a Redemption Date before the Maturity
Date, for a cash purchase price equal to the Redemption Price, but only if (i) the Company has (or, on the next Interest Payment Date, would) become obligated to pay any Additional Amounts to Holders as a result of any

  
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Change in Tax Law; (ii) the Company cannot avoid such obligation by taking reasonable measures available to the Company; and (iii) the Company delivers to the Trustee (1) an
Opinion of Counsel from outside legal counsel of recognized standing in the Relevant Taxing Jurisdiction attesting to clause (i) above; and (2) an Officer’s Certificate attesting to clauses (i) and (ii) above. For the avoidance
of doubt, the calling of any Notes for a Tax Redemption will constitute a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof. 

(ii) Tax Redemption Opt-Out Election. If the Company calls the Notes for a Tax
Redemption, then, notwithstanding anything to the contrary in this Section 4.03 or in Section 3.05, each Holder will have the right to elect (a “Tax Redemption Opt-Out Election”) not to have such Holder’s Notes redeemed (or any portion thereof in an Authorized Denomination) pursuant to such Tax Redemption, in which case, from and after the Redemption Date for
such Tax Redemption (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, from and after such time as the Company pays such Redemption Price in full), the Company will no longer have any obligation to pay any
Additional Amounts with respect to such Notes solely as a result of such Change in Tax Law, and all future payments with respect to such Notes (other than any payment or delivery of Conversion Consideration due upon conversion (including payments of
cash for any fractional share)) will be subject to the deduction or withholding of such Relevant Taxing Jurisdiction’s taxes required by law to be deducted or withheld as a result of such Change in Tax Law (it being understood, for the
avoidance of doubt, that that if such Holder converts such Notes at any time, then the Company will be obligated to pay Additional Amounts, if any, with respect to such conversion). 

(1) Tax Redemption Opt-Out Notice. Subject to the Depositary Procedures, to make
a Tax Redemption Opt-Out Election with respect to any Note (or any portion thereof in an Authorized Denomination), the Holder of such Note must deliver a notice (a “Tax Redemption Opt-Out Election Notice”) to the Company with a copy to the Paying Agent before the Close of Business on the Business Day immediately before the related Redemption Date, which notice must state: (x) if
such Note is a Physical Note, the certificate number of such Note; (y) the principal amount of such Note as to which the Tax Redemption Opt-Out Election will apply, which must be an Authorized
Denomination; and (z) that such Holder is making a Tax Redemption Opt-Out Election with respect to such Note (or such portion thereof); provided, however, that if such Note is a Global Note,
then such notice must comply with the Depositary Procedures (and any such notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the requirements of this Section 4.03(C)(ii)(1)). 

(2) Withdrawal of Tax Redemption Opt-Out Election Notice. A Holder that has
delivered a Tax Redemption Opt-Out Election Notice with respect to any Note (or any portion thereof in an Authorized Denomination) may withdraw such Tax Redemption
Opt-Out Election Notice by delivering a withdrawal notice to the Paying Agent at any time before the Close of Business on the Business Day immediately before the related Redemption Date, which withdrawal
notice must state: (x) if such Note is a Physical Note, the certificate number of such Note; (y) 

  
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the principal amount of such Note as to which the Tax Redemption Opt-Out Election is being withdrawn, which must be an Authorized Denomination; and
(z) that such Holder is withdrawing the Tax Redemption Opt-Out Election with respect to such Note (or such portion thereof); provided, however, that if such Note is a Global Note, then such
withdrawal notice must comply with the Depositary Procedures (and any such withdrawal notice delivered in compliance with the Depositary Procedures will be deemed to satisfy the requirements of this Section 4.03(C)(ii)(2)).

 (iii) Right to Convert Not Affected. For the avoidance of doubt, a Tax Redemption will not affect any Holder’s
right to convert any Notes and the Company’s obligation to pay any Additional Amounts with respect to such conversion. 
 (D)
Redemption Prohibited in Certain Circumstances. If the principal amount of the Notes has been accelerated and such acceleration has not been rescinded on or before the Redemption Date (including a rescission as a result of the payment of the
related Redemption Price, and any related interest pursuant to the proviso to Section 4.03(F), on such Redemption Date), then (i) the Company may not call for Redemption or otherwise redeem any Notes pursuant to this
Section 4.03; and (ii) the Company will cause any Notes theretofore surrendered for such Redemption to be returned to the Holders thereof (or, if applicable with respect to Global Notes, cancel any instructions for
book-entry transfer to the Company, the Trustee or the Paying Agent of the applicable beneficial interests in such Notes in accordance with the Depositary Procedures). 

(E) Redemption Date. The Redemption Date for any Redemption will be a Business Day of the Company’s choosing that is no more than
sixty five (65), nor less than forty five (45), Scheduled Trading Days after the Redemption Notice Date for such Redemption; provided, however, that if, in accordance with Section 5.03(A)(iii), the
Company has elected to settle all conversions of Notes with a Conversion Date that occurs on or after such Redemption Notice Date and before the related Redemption Date by Physical Settlement, then the Company may instead elect to choose a
Redemption Date that is a Business Day no more than sixty (60), nor less than thirty (30), calendar days after such Redemption Notice Date. 

(F) Redemption Price. The Redemption Price for any Note called for Redemption is an amount in cash equal to the principal amount of
such Note plus accrued and unpaid interest on such Note to, but excluding, the Redemption Date for such Redemption, together with any Additional Amounts with respect to such Redemption Price; provided, however, that if such Redemption
Date is after a Regular Record Date and on or before the next Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record Date will be entitled, notwithstanding such Redemption, to receive, on or, at
the Company’s election, before such Interest Payment Date, the unpaid interest that would have accrued on such Note to, but excluding, such Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding through
such Interest Payment Date, if such Redemption Date is before such Interest Payment Date); and (ii) the Redemption Price will not include accrued and unpaid interest on such Note to, but excluding, such Redemption Date. For the avoidance of
doubt, if an Interest Payment Date is not a Business Day within the meaning of Section 2.05(C) and such Redemption Date occurs on the Business Day immediately after such Interest Payment Date, then (x) accrued and
unpaid interest on Notes to, but excluding, such Interest Payment Date will be paid, in accordance with Section 2.05(C), on the next Business Day to Holders at of the Close of Business on the immediately preceding Regular
Record Date; and (y) the Redemption Price will include interest on Notes to be redeemed from, and including, such Interest Payment Date. 

  
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 (G) Notices to Trustee. If the Company elects to redeem Notes pursuant to this
Section 4.03, then it will furnish to the Trustee, at least five (5) calendar days before the related Redemption Notice Date (unless a shorter notice period is satisfactory to the Trustee), an Officer’s
Certificate setting forth the Section of this Indenture pursuant to which the Redemption will occur, the applicable Redemption Date, the principal amount of Notes to be redeemed and the Redemption Price. If the Registrar is not the Trustee, then the
Company will, concurrently with each Redemption Notice, deliver, or cause the Registrar to deliver, to the Trustee a certificate (upon which the Trustee may conclusively rely) setting forth the principal amounts of Notes held by each Holder. 

(H) Redemption Notice. To call any Notes for Redemption, the Company must send to each Holder of such Notes (and to any beneficial
owner of a Global Note, if required by applicable law), the Trustee and the Paying Agent a written notice of such Redemption (a “Redemption Notice”). 

Such Redemption Notice must state: 

(i) that the Notes have been called for Redemption, briefly describing the Company’s Redemption right under this
Indenture; 
 (ii) the Redemption Date for such Redemption; 

(iii) the Redemption Price per $1,000 principal amount of Notes for such Redemption (and, if the Redemption Date is after a
Regular Record Date and on or before the next Interest Payment Date, the amount, manner and timing of the interest payment payable pursuant to the proviso to Section 4.03(F)); 

(iv) the name and address of the Paying Agent and the Conversion Agent; 

(v) that Notes called for Redemption may be converted at any time before the Close of Business on the Business Day immediately
before the Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any time until such time as the Company pays such Redemption Price in full); 

(vi) the Conversion Rate in effect on the Redemption Notice Date for such Redemption and a description and quantification of
any adjustments to the Conversion Rate that may result from such Redemption (including pursuant to Section 5.07); 

(vii) the Settlement Method that will apply to all conversions of Notes with a Conversion Date that occurs on or after such
Redemption Notice Date and before such Redemption Date; 
 (viii) that Notes called for Redemption must be delivered to the
Paying Agent (in the case of Physical Notes) or the Depositary Procedures must be complied with (in the case of Global Notes) for the Holder thereof to be entitled to receive the Redemption Price; and 

  
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 (ix) the CUSIP and ISIN numbers, if any, of the Notes. 

On or before the Redemption Notice Date, the Company will send a copy of such Redemption Notice to the Trustee and the Paying Agent. At the
Company’s request, the Trustee will give the Redemption Notice to each Holder (but not any beneficial owner of a Global Note) in the Company’s name and at its expense, provided that the Company delivers to the Trustee, at least five
(5) calendar days prior to the Redemption Notice Date (unless the Trustee agrees to a shorter period), 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 this Section 4.03(H). 
 (I) Special Requirement for Notice of Tax Redemption. A Redemption
Notice relating to a Tax Redemption must be sent pursuant to Section 4.03(H) no earlier than one hundred and eighty (180) calendar days before the earliest date on which the Company would have been required to make the
related payment or withholding (assuming a payment in respect of the Notes were then due), and the obligation to pay Additional Amounts must be in effect as of the date the Company sends such Redemption Notice and must be expected to remain in
effect at the time of the next payment or delivery in respect of the Notes. 
 (J) Selection, Conversion and Transfer of Notes to be
Redeemed in Part. If less than all Notes then outstanding are called for Redemption, then: 
 (i) the Notes to be
redeemed will be selected by the Company as follows: (1) in the case of Global Notes, in accordance with the Depositary Procedures; and (2) in the case of Physical Notes, pro rata, by lot or by such other method the Company considers fair
and appropriate; and 
 (ii) if only a portion of a Note is subject to Redemption and such Note is converted in part, then
the converted portion of such Note will be deemed to be from the portion of such Note that was subject to Redemption. 
 (K) Payment of
the Redemption Price. Without limiting the Company’s obligation to deposit the Redemption Price by the time proscribed by Section 3.01(B), the Company will cause (x) the Redemption Price for a Note (or portion
thereof) subject to Redemption to be paid to the Holder thereof on or before the applicable Redemption Date and (y) interest payable pursuant to the proviso in Section 4.03(F) to be paid on or before the relevant
Interest Payment Date to the Holder at the Close of Business on the corresponding Regular Record Date. 
 (L) Special Provisions for
Partial Calls. If the Company’s elects to redeem less than all of the outstanding Notes pursuant to this Section 4.03, and the Holder of any Note, or any owner of a beneficial interest in any Global Note, is
reasonably not able to determine, before the Close of Business on the forty second (42nd) Scheduled Trading Day (or, if, in accordance with Section 5.03(A)(iii), the Company has irrevocably elected to settle all conversions
of Notes with a Conversion Date that occurs on or after the Redemption Notice Date for such Redemption and before the related Redemption Date by Physical Settlement, the tenth (10th) calendar day) 

  
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immediately before the Redemption Date for such Redemption, whether such Note or beneficial interest, as applicable, is to be redeemed pursuant to such Redemption, then such Holder or owner, as
applicable, will be entitled to convert such Note or beneficial interest, as applicable, at any time before the Close of Business on the Business Day immediately before such Redemption Date, and each such conversion will be deemed to be of a Note
called for Redemption for purposes of this Section 4.03 and Sections 5.01(C)(i)(4) and 5.07. The Trustee is not obligated to make any determination in connection with this
Section 4.03(L). 
 Article 5. CONVERSION 

Section 5.01. RIGHT TO CONVERT. 

(A) Generally. Subject to the provisions of this Article 5, each Holder may, at its option, convert such Holder’s Notes
into Conversion Consideration. 
 (B) Conversions in Part. Subject to the terms of this Indenture, Notes may be converted in part,
but only in Authorized Denominations. Provisions of this Article 5 applying to the conversion of a Note in whole will equally apply to conversions of a permitted portion of a Note. 

(C) When Notes May Be Converted. 

(i) Generally. Subject to Section 5.01(C)(ii), a Note may be converted only in the following
circumstances: 
 (1) Conversion upon Satisfaction of Ordinary Share Sale Price Condition. A Holder may convert its
Notes during any fiscal quarter commencing after the fiscal quarter ending on May 29, 2020 (and only during such fiscal quarter), if the Last Reported Sale Price per Ordinary Share exceeds one hundred and thirty percent (130%) of the Conversion
Price for each of at least twenty (20) Trading Days (whether or not consecutive) during the thirty (30) consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding fiscal quarter. 

(2) Conversion upon Satisfaction of Note Trading Price Condition. A Holder may convert its Notes during the five
(5) consecutive Business Days immediately after any ten (10) consecutive Trading Day period (such ten (10) consecutive Trading Day period, the “Measurement Period”) if the Trading Price per $1,000 principal amount of
Notes, as determined following a request by a Holder in accordance with the procedures set forth below, for each Trading Day of the Measurement Period was less than ninety eight percent (98%) of the product of the Last Reported Sale Price per
Ordinary Share on such Trading Day and the Conversion Rate on such Trading Day. The condition set forth in the preceding sentence is referred to in this Indenture as the “Trading Price Condition.” 

The Trading Price will be determined by the Bid Solicitation Agent pursuant to this Section 5.01(C)(i)(2) and in the
definition of “Trading Price.” The Bid Solicitation Agent (if not the Company) will have no obligation to determine the Trading Price of the Notes unless the Company has requested such determination in writing, and the Company will have no
obligation to make such request (or seek bids itself) unless a Holder provides the Company with reasonable evidence that the Trading 

  
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Price per $1,000 principal amount of Notes would be less than ninety eight percent (98%) of the product of the Last Reported Sale Price per Ordinary Share and the Conversion Rate. If a Holder
provides such evidence, then the Company will (if acting as Bid Solicitation Agent), or will instruct the Bid Solicitation Agent to, determine the Trading Price of the Notes beginning on the next Trading Day and on each successive Trading Day until
the Trading Price per $1,000 principal amount of Notes is greater than or equal to ninety eight percent (98%) of the product of the Last Reported Sale Price per Ordinary Share on such Trading Day and the Conversion Rate on such Trading Day, and (if
the Company is not acting as Bid Solicitation Agent) the Company will instruct the three (3) independent nationally recognized securities dealers to deliver bids to the Bid Solicitation Agent in accordance with the definition of Trading Price.
If the Trading Price Condition has been met as set forth above, then the Company will notify the Holders, the Trustee and the Conversion Agent of the same. If, on any Trading Day after the Trading Price Condition has been met as set forth above, the
Trading Price per $1,000 principal amount of Notes is greater than or equal to ninety eight percent (98%) of the product of the Last Reported Sale Price per Ordinary Share on such Trading Day and the Conversion Rate on such Trading Day, then the
Company will notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) of the same. 
 (3)
Conversion upon Specified Corporate Events. 
 (a) Certain Distributions. If the Company elects to: 

(I) distribute, to all or substantially all holders of Ordinary Shares, any rights, options or warrants (other than rights
issued pursuant to a shareholder rights plan prior to separation of such rights from the Ordinary Shares) entitling them, for a period of not more than sixty (60) calendar days after the date such distribution is announced, to subscribe for or
purchase Ordinary Shares at a price per share that is less than the average of the Last Reported Sale Prices per Ordinary Share for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such
distribution is announced (determined in the manner set forth in the third paragraph of Section 5.05(A)(ii)); or 

(II) distribute, to all or substantially all holders of Ordinary Shares, assets or securities of the Company or rights to
purchase the Company’s securities, which distribution per Ordinary Share has a value, as reasonably determined by the Board of Directors, exceeding ten percent (10%) of the Last Reported Sale Price per Ordinary Share on the Trading Day
immediately before the date such distribution is announced, 
 then, in either case, (x) the Company will send notice of such
distribution, 

  
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and of the related right to convert Notes, to Holders, the Trustee and the Conversion Agent (if other than the Trustee) at least forty five (45) Scheduled Trading Days before the Ex-Dividend Date for such distribution; and (y) once the Company has sent such notice, Holders may convert their Notes at any time until the earlier of the Close of Business on the Business Day immediately
before such Ex-Dividend Date and the Company’s announcement that such distribution will not take place; provided, however, that the Notes will not become convertible pursuant to clause
(y) above (but the Company will be required to send notice of such distribution pursuant to clause (x) above) on account of such distribution if each Holder participates, at the same time and on the same terms as holders of Ordinary
Shares, and solely by virtue of being a Holder, in such distribution without having to convert such Holder’s Notes and as if such Holder held a number of Ordinary Shares equal to the product of (i) the Conversion Rate in effect on the
record date for such distribution; and (ii) the aggregate principal amount (expressed in thousands) of Notes held by such Holder on such date; provided, further, that if the Company is then otherwise permitted to settle
conversions of Notes by Physical Settlement (and, for the avoidance of doubt, the Company has not elected another Settlement Method to apply, including pursuant to Section 5.03(A)(i)), then the Company may instead elect to
provide such notice at least ten (10) Scheduled Trading Days before such Ex-Dividend Date, in which case (x) the Company must settle all conversions of Notes with a Conversion Date occurring on or
after the date the Company provides such notice and on or before the Business Day immediately before the Ex-Dividend Date for such distribution (or any earlier announcement by the Company that such
distribution will not take place) by Physical Settlement; and (y) such notice must state that all such conversions will be settled by Physical Settlement; provided, further, that, notwithstanding anything to the contrary in this
Section 5.01(C)(i)(3)(a), in the case of any separation, from the Ordinary Shares, of rights issued pursuant to a shareholder rights plan as set forth in clause (I) above, in no event will the Company be
required to provide such notice before the Business Day after the date the Company becomes aware of the event causing such separation. 

(b) Certain Corporate Events. If a Fundamental Change, Make-Whole Fundamental Change (other than a Make-Whole
Fundamental Change pursuant to clause (B) of the definition thereof) or Ordinary Share Change Event occurs (other than a merger or other business combination transaction that is effected solely to change the Company’s jurisdiction of
incorporation and that does not constitute a Fundamental Change or a Make-Whole Fundamental Change), then, in each case, Holders may convert their Notes at any time from, and including, the effective date of such transaction or event to, and
including, the thirty fifth (35th) Trading Day after such effective date (or, if such transaction or event also constitutes a Fundamental Change (other than an Exempted Fundamental Change), to, 

  
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but excluding, the related Fundamental Change Repurchase Date); provided, however, that if the Company fails to provide the notice referred to in the immediately following sentence
by such effective date, then the last day on which the Notes are convertible pursuant to this sentence will be extended by the number of Business Days from, and including, such effective date to, but excluding, the date the Company provides such
notice. No later than such effective date, the Company will send notice to the Holders, the Trustee and the Conversion Agent (if other than the Trustee) of such transaction or event, such effective date and the related right to convert Notes. 

(4) Conversion upon Redemption. If the Company calls any Note for Redemption, then the Holder of such Note may convert
such Note at any time before the Close of Business on the Business Day immediately before the related Redemption Date (or, if the Company fails to pay the Redemption Price due on such Redemption Date in full, at any time until such time as the
Company pays such Redemption Price in full). 
 (5) Conversions During Free Convertibility Period. A Holder may
convert its Notes at any time from, and including, August 15, 2025 until the Close of Business on the second (2nd) Scheduled Trading Day immediately before the Maturity Date. 

For the avoidance of doubt, the Notes may become convertible pursuant to any one or more of the preceding
sub-paragraphs of this Section 5.01(C)(i) and the Notes ceasing to be convertible pursuant to a particular sub-paragraph of this
Section 5.01(C)(i) will not preclude the Notes from being convertible pursuant to any other sub-paragraph of this Section 5.01(C)(i). 

(ii) Limitations and Closed Periods. Notwithstanding anything to the contrary in this Indenture or the Notes: 

(1) Notes may be surrendered for conversion only after the Open of Business and before the Close of Business on a day that is a
Business Day; 
 (2) in no event may any Note be converted after the Close of Business on the second (2nd) Scheduled Trading
Day immediately before the Maturity Date; 
 (3) if the Company calls any Note for Redemption pursuant to
Section 4.03, then the Holder of such Note may not convert such Note after the Close of Business on the Business Day immediately before the applicable Redemption Date, except to the extent the Company fails to pay the
Redemption Price for such Note in accordance with this Indenture; and 
 (4) if a Fundamental Change Repurchase Notice is
validly delivered pursuant to Section 4.02(F) with respect to any Note, then such Note may not be converted, except to the extent (a) such Note is not subject to such notice; (b) such notice is withdrawn in
accordance with Section 4.02(F); or (c) the Company fails to pay the Fundamental Change Repurchase Price for such Note (or a third party fails to make such payment in lieu of the Company in accordance with
Section 4.02(H)) in accordance with this Indenture. 

  
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 Section 5.02. Conversion Procedures. 

(A) Generally. 

(i) Global Notes. To convert a beneficial interest in a Global Note that is convertible pursuant to
Section 5.01(C), the owner of such beneficial interest must (1) comply with the Depositary Procedures for converting such beneficial interest (at which time such conversion will become irrevocable); and (2) pay
any amounts due pursuant to Section 5.02(D) or Section 5.02(E). 
 (ii)
Physical Notes. To convert all or a portion of a Physical Note that is convertible pursuant to Section 5.01(C), the Holder of such Note must (1) complete, manually sign and deliver to the Conversion Agent the
conversion notice attached to such Physical Note or a facsimile of such conversion notice; (2) deliver such Physical Note to the Conversion Agent (at which time such conversion will become irrevocable); (3) furnish any endorsements and transfer
documents that the Company or the Conversion Agent may require; and (4) pay any amounts due pursuant to Section 5.02(D) or Section 5.02(E). 

(B) Effect of Converting a Note. At the Close of Business on the Conversion Date for a Note (or any portion thereof), such Note (or
such portion thereof) will be deemed to cease to be outstanding (and, for the avoidance of doubt, no Person will be deemed to be a Holder of such Note (or such portion thereof) as of the Close of Business on such Conversion Date), except to the
extent provided in Section 5.02(D). 
 (C) Holder of Record of Conversion Shares. The Person in whose name
any Ordinary Share is issuable upon conversion of any Note will be deemed to become the holder of record of such share as of the Close of Business on (i) the Conversion Date for such conversion, in the case of Physical Settlement; or
(ii) the last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement. 
 (D) Interest
Payable upon Conversion in Certain Circumstances. If the Conversion Date of a Note is after a Regular Record Date and before the next Interest Payment Date, then (i) the Holder of such Note at the Close of Business on such Regular Record
Date will be entitled, notwithstanding such conversion (and, for the avoidance of doubt, notwithstanding anything set forth in the proviso to this sentence), to receive, on or, at the Company’s election, before such Interest Payment Date, the
unpaid interest that would have accrued on such Note to, but excluding, such Interest Payment Date (assuming, solely for these purposes, that such Note remained outstanding through such Interest Payment Date); and (ii) the Holder surrendering
such Note for conversion must deliver to the Conversion Agent, at the time of such surrender, an amount of cash equal to the amount of such interest referred to in clause (i) above; provided, however, that the Holder surrendering
such Note for conversion need not deliver such cash (w) if the Company has specified a Redemption Date that is after such Regular Record Date and on or before the Business Day immediately after such Interest Payment Date; (x) if such
Conversion Date occurs after the Regular Record Date immediately before the Maturity Date; (y) if the Company has specified a 

  
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Fundamental Change Repurchase Date that is after such Regular Record Date and on or before the Business Day immediately after such Interest Payment Date; or (z) to the extent of any overdue
interest or interest that has accrued on any overdue interest. For the avoidance of doubt, as a result of, and without limiting the generality of, the foregoing, if a Note is converted with a Conversion Date that is after the Regular Record Date
immediately before the Maturity Date, then the Company will pay, as provided above, the interest that would have accrued on such Note to, but excluding, the Maturity Date. For the avoidance of doubt, if the Conversion Date of a Note to be converted
is on an Interest Payment Date, then the Holder of such Note at the Close of Business on the Regular Record Date immediately before such Interest Payment Date will be entitled to receive, on such Interest Payment Date, the unpaid interest that has
accrued on such Note to, but excluding, such Interest Payment Date, and such Note, when surrendered for conversion, need not be accompanied by any cash amount pursuant to the first sentence of this Section 5.02(D). 

(E) Taxes and Duties. If a Holder converts a Note, the Company will pay any documentary, stamp or similar issue or transfer tax or duty
due on the issue or delivery of any Ordinary Shares upon such conversion; except any tax or duty is due because such Holder requested such Ordinary Shares to be registered in a name other than such Holder’s name. 

(F) Conversion Agent to Notify Company of Conversions. If any Note is submitted for conversion to the Conversion Agent or the
Conversion Agent receives any notice of conversion with respect to a Note, then the Conversion Agent will promptly notify the Company and the Trustee of such occurrence, together with any other information reasonably requested by the Company, and
will cooperate with the Company for the Company to determine the Conversion Date for such Note. 
 Section 5.03. SETTLEMENT
UPON CONVERSION. 
 (A) Settlement Method. Upon the conversion of any Note, the Company will settle
such conversion by paying or delivering, as applicable and as provided in this Article 5, either (x) Ordinary Shares, together, if applicable, with cash in lieu of fractional shares as provided in
Section 5.03(B)(i)(1) (a “Physical Settlement”); (y) solely cash as provided in Section 5.03(B)(i)(2) (a “Cash Settlement”); or (z) a combination of cash and
Ordinary Shares, together, if applicable, with cash in lieu of fractional shares as provided in Section 5.03(B)(i)(3) (a “Combination Settlement”). 

The Company will have the right to elect the Settlement Method applicable to any conversion of a Note; provided, however, that:

 (i) subject to clause (iii) below, all conversions of Notes with a Conversion Date that occurs on or after
August 15, 2025 will be settled using the same Settlement Method, and the Company will send notice of such Settlement Method to Holders, the Trustee and the Conversion Agent (if other than the Trustee) no later than the Close of Business on the
Scheduled Trading Day immediately before August 15, 2025; 
 (ii) subject to clause (iii) below, if the
Company elects a Settlement Method with respect to the conversion of any Note whose Conversion Date occurs before August 15, 2025, then the Company will send notice of such Settlement Method to the Holder of such Note, the Trustee and the
Conversion Agent (if other than the Trustee) no later than the Close of Business on the Business Day immediately after such Conversion Date; 

  
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 (iii) if any Notes are called for Redemption, then (1) the Company will
specify, in the related Redemption Notice sent pursuant to Section 4.03(H), the Settlement Method that will apply to all conversions of Notes with a Conversion Date that occurs on or after the related Redemption Notice Date
and before the related Redemption Date; and (2) if such Redemption Date occurs on or after August 15, 2025, then such Settlement Method must be the same Settlement Method that, pursuant to clause (i) above, applies to all
conversions of Notes with a Conversion Date that occurs on or after August 15, 2025; 
 (iv) the Company will use the
same Settlement Method for all conversions of Notes with the same Conversion Date (and, for the avoidance of doubt, the Company will not be obligated to use the same Settlement Method with respect to conversions of Notes with different Conversion
Dates, except as provided in clause (i) or (iii) above); 
 (v) if the Company does not timely elect a
Settlement Method with respect to the conversion of a Note, then the Company will be deemed to have elected the Default Settlement Method (and, for the avoidance of doubt, the failure to timely make such election will not constitute a Default or
Event of Default); 
 (vi) if the Company timely elects Combination Settlement with respect to the conversion of a Note but
does not timely notify the Holder of such Note of the applicable Specified Dollar Amount, then the Specified Dollar Amount for such conversion will be deemed to be $1,000 per $1,000 principal amount of Notes (and, for the avoidance of doubt, the
failure to timely send such notification will not constitute a Default or Event of Default); and 
 (vii) the Settlement
Method will be subject to Sections 4.03(E), 5.09(A)(2) and 5.01(C)(i)(3)(a). 
 In addition, the Company will
have the right, exercisable at its election by sending notice of such exercise to the Holders (with a copy to the Trustee and the Conversion Agent (if other than the Trustee)), to irrevocably fix the Settlement Method that will apply to all
conversions of Notes with a Conversion Date that occurs on or after the date such notice is sent to Holders, provided that such Settlement Method must be a Settlement Method that the Company is then permitted to elect (for the avoidance of
doubt, including pursuant to, and subject to, the other provisions of this Section 5.03(A)). Such notice, if sent, must set forth the applicable Settlement Method and expressly state that the election is irrevocable and
applicable to all conversions of Notes with a Conversion Date that occurs on or after the date such notice is sent to Holders. For the avoidance of doubt, such an irrevocable election, if made, will be effective without the need to amend this
Indenture or the Notes, including pursuant to Section 8.01(G) (it being understood, however, that the Company may nonetheless choose to execute such an amendment at its option). 

  
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 (B) Conversion Consideration. 

(i) Generally. Subject to Section 5.03(B)(ii) and
Section 5.03(B)(iii), the type and amount of consideration (the “Conversion Consideration”) due in respect of each $1,000 principal amount of a Note to be converted will be as follows: 

(1) if Physical Settlement applies to such conversion, a number of Ordinary Shares equal to the Conversion Rate in effect on
the Conversion Date for such conversion; 
 (2) if Cash Settlement applies to such conversion, cash in an amount equal to the
sum of the Daily Conversion Values for each VWAP Trading Day in the Observation Period for such conversion; or 
 (3) if
Combination Settlement applies to such conversion, consideration consisting of (a) a number of Ordinary Shares equal to the sum of the Daily Share Amounts for each VWAP Trading Day in the Observation Period for such conversion; and (b) an
amount of cash equal to the sum of the Daily Cash Amounts for each VWAP Trading Day in such Observation Period. 
 (ii)
Cash in Lieu of Fractional Shares. If Physical Settlement or Combination Settlement applies to the conversion of any Note and the number of Ordinary Shares deliverable pursuant to Section 5.03(B)(i) upon such
conversion is not a whole number, then such number will be rounded down to the nearest whole number and the Company will deliver, in addition to the other consideration due upon such conversion, cash in lieu of the related fractional share in an
amount equal to the product of (1) such fraction and (2) (x) the Daily VWAP on the applicable Conversion Date for such conversion (or, if such Conversion Date is not a VWAP Trading Day, the immediately preceding VWAP Trading Day), in the case
of Physical Settlement; or (y) the Daily VWAP on the last VWAP Trading Day of the Observation Period for such conversion, in the case of Combination Settlement. 

(iii) Conversion of Multiple Notes by a Single Holder. If a Holder converts more than one (1) Note on a single
Conversion Date, then the Conversion Consideration due in respect of such conversion will (in the case of any Global Note, to the extent permitted by, and practicable under, the Depositary Procedures) be computed based on the total principal amount
of Notes converted on such Conversion Date by such Holder. 
 (iv) Notice of Calculation of Conversion Consideration.
If Cash Settlement or Combination Settlement applies to the conversion of any Note, then the Company will determine the Conversion Consideration due thereupon promptly following the last VWAP Trading Day of the applicable Observation Period and will
promptly thereafter send notice to the Trustee and the Conversion Agent of the same and the calculation thereof in reasonable detail. Neither the Trustee nor the Conversion Agent will have any duty to make any such determination. 

(C) Delivery of the Conversion Consideration. Except as set forth in Sections 5.05(D) and 5.09, the Company
will pay or deliver, as applicable, the Conversion Consideration due upon the conversion of any Note to the Holder as follows: (i) if Cash Settlement or Combination Settlement applies to such conversion, on or before the second (2nd) Business
Day immediately after the last VWAP Trading Day of the Observation Period for such conversion; and (ii) if 

  
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Physical Settlement applies to such conversion, on or before the second (2nd) Business Day immediately after the Conversion Date for such conversion; provided, however, that if
Physical Settlement applies to the conversion of any Note with a Conversion Date that is after the Regular Record Date immediately before the Maturity Date, then, solely for purposes of such conversion, (x) the Company will pay or deliver, as
applicable, the Conversion Consideration due upon such conversion no later than the Maturity Date (or, if the Maturity Date is not a Business Day, the next Business Day); and (y) the Conversion Date will instead be deemed to be the second (2nd)
Scheduled Trading Day immediately before the Maturity Date. 
 (D) Deemed Payment of Principal and Interest; Settlement of Accrued
Interest Notwithstanding Conversion. If a Holder converts a Note, then the Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and, except as provided in
Section 5.02(D), the Company’s delivery of the Conversion Consideration due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the principal of, and accrued
and unpaid interest, if any, on, such Note to, but excluding the Conversion Date. As a result, except as provided in Section 5.02(D), any accrued and unpaid interest on a converted Note will be deemed to be paid in full
rather than cancelled, extinguished or forfeited. In addition, subject to Section 5.02(D), if the Conversion Consideration for a Note consists of both cash and Ordinary Shares, then accrued and unpaid interest that is
deemed to be paid therewith will be deemed to be paid first out of such cash. 
 Section 5.04. RESERVE AND
STATUS OF ORDINARY SHARES ISSUED UPON CONVERSION. 

(A) Share Reserve. At all times when any Notes are outstanding, the Company will reserve, out of its authorized but unissued and
unreserved Ordinary Shares, a number of Ordinary Shares sufficient to permit the conversion of all then-outstanding Notes, assuming (x) Physical Settlement will apply to such conversion; and (y) the Conversion Rate is increased by the
maximum amount pursuant to which the Conversion Rate may be increased pursuant to Section 5.07. 
 (B) Status
of Conversion Shares; Listing. Each Conversion Share, if any, delivered upon conversion of any Note will be a newly issued or treasury share (except that any Conversion Share delivered by a designated financial institution pursuant to
Section 5.08 need not be a newly issued or treasury share) and will be duly and validly issued, fully paid, non-assessable, free from preemptive rights and free of any lien or adverse
claim (except to the extent of any lien or adverse claim created by the action or inaction of the Holder of such Note or the Person to whom such Conversion Share will be delivered). If the Ordinary Shares are then listed on any securities exchange,
or quoted on any inter-dealer quotation system, then the Company will use commercially reasonable efforts to cause each Conversion Share, when delivered upon conversion of any Note, to be admitted for listing on such exchange or quotation on such
system. 

  
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 Section 5.05. ADJUSTMENTS TO THE
CONVERSION RATE. 
 (A) Events Requiring an Adjustment to the Conversion Rate. The Conversion Rate
will be adjusted from time to time as follows: 
 (i) Share Dividends, Splits and Combinations. If the Company issues
solely Ordinary Shares as a dividend or distribution on all or substantially all Ordinary Shares, or if the Company effects a share split or a share combination of the Ordinary Shares (in each case excluding an issuance solely pursuant to an
Ordinary Share Change Event, as to which Section 5.09 will apply), then the Conversion Rate will be adjusted based on the following formula: 
  

 
 where: 
  

					
	CR0	 	=	  	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such dividend or distribution, or immediately before the Open of Business on the effective
date of such share split or share combination, as applicable;
			
	CR1	 	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date or such effective date, as applicable;
			
	OS0	 	=	  	the number of Ordinary Shares outstanding immediately before the Open of Business on such Ex-Dividend Date or effective date, as applicable, without giving effect to such dividend,
distribution, share split or share combination; and
			
	OS1	 	=	  	the number of Ordinary Shares outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 If any dividend or distribution of the type described in this Section 5.05(A)(i) is
declared, but not so paid, then the Conversion Rate will be readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Conversion Rate that would then be in effect had such dividend or
distribution not been declared. 
 (ii) Rights, Options and Warrants. If the Company distributes, to all or
substantially all holders of Ordinary Shares, rights, options or warrants (other than rights issued or otherwise distributed pursuant to a shareholder rights plan, as to which the provisions set forth in Sections 5.05(A)(iii)(1) and
5.05(F) will apply) entitling such holders, for a period of not more than sixty (60) calendar days after the date such distribution is announced, to subscribe for or purchase Ordinary Shares at a price per share that is less than the
average of the Last Reported Sale Prices per Ordinary Share for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced, then the Conversion Rate will be
increased based on the following formula: 
  
 

 

  
 - 52 - 

 where: 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	OS	  	=	  	the number of Ordinary Shares outstanding immediately before the Open of Business on such Ex-Dividend Date;
			
	X	  	=	  	the total number of Ordinary Shares issuable pursuant to such rights, options or warrants; and
			
	Y	  	=	  	a number of Ordinary Shares obtained by dividing (x) the aggregate price payable to exercise such rights, options or warrants by (y) the average of the Last Reported Sale Prices per Ordinary Share for the ten
(10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced.

 To the extent that Ordinary Shares are not delivered after the expiration of such rights, options or warrants
(including as a result of such rights, options or warrants not being exercised), the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the increase to the Conversion Rate for such distribution been made on
the basis of delivery of only the number of Ordinary Shares actually delivered upon exercise of such rights, options or warrants. To the extent such rights, options or warrants are not so distributed, the Conversion Rate will be readjusted to the
Conversion Rate that would then be in effect had the Ex-Dividend Date for the distribution of such rights, options or warrants not occurred. 

For purposes of this Section 5.05(A)(ii) and Section 5.01(C)(i)(3)(a)(I), in determining
whether any rights, options or warrants entitle holders of Ordinary Shares to subscribe for or purchase Ordinary Shares at a price per share that is less than the average of the Last Reported Sale Prices per Ordinary Share for the ten
(10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date of the distribution of such rights, options or warrants is announced, and in determining the aggregate price payable to exercise such rights,
options or warrants, there will be taken into account any consideration the Company receives for such rights, options or warrants and any amount payable on exercise thereof, with the value of such consideration, if not cash, to be determined by the
Board of Directors. 

  
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 (iii) Spin-Offs and Other Distributed Property. 

(1) Distributions Other than Spin-Offs. If the Company distributes shares of its Capital Stock, evidences of its
indebtedness or other assets or property of the Company, or rights, options or warrants to acquire Capital Stock of the Company or other securities, to all or substantially all holders of Ordinary Shares, excluding: 

(u) dividends, distributions, rights, options or warrants for which an adjustment to the Conversion Rate is required (or would
be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(i) or 5.05(A)(ii); 

(v) dividends or distributions paid exclusively in cash for which an adjustment to the Conversion Rate is required (or would
be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(iv); 

(w) rights issued or otherwise distributed pursuant to a shareholder rights plan, except to the extent provided in
Section 5.05(F); 
 (x) Spin-Offs for which an adjustment to the Conversion Rate is required (or
would be required without regard to Section 5.05(C)) pursuant to Section 5.05(A)(iii)(2); and 

(y) a distribution solely pursuant to a tender offer or exchange offer for Ordinary Shares, as to which
Section 5.05(A)(v) will apply; and 
 (z) a distribution solely pursuant to an Ordinary Share
Change Event, as to which Section 5.09 will apply, 
 then the Conversion Rate will be increased based on the
following formula: 
  
 

 
 where: 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such distribution;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
			
	SP	  	=	  	the average of the Last Reported Sale Prices per Ordinary Share for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before such Ex-Dividend
Date; and
			
	FMV	  	=	  	the fair market value (as determined by the Board of Directors), as of such Ex-Dividend Date, of the shares of Capital Stock, evidences of indebtedness, assets, property, rights, options or
warrants distributed per Ordinary Share pursuant to such distribution;

  
 - 54 - 

 provided, however, that if FMV is equal to or greater than SP,
then, in lieu of the foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such distribution, at the same time and on the same terms as holders of
Ordinary Shares, and without having to convert its Notes, the amount and kind of Ordinary Shares, evidences of indebtedness, assets, property, rights, options or warrants that such Holder would have received if such Holder had owned, on such record
date, a number of Ordinary Shares equal to the Conversion Rate in effect on such record date. 
 To the extent such distribution is not so
paid or made, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment been made on the basis of only the distribution, if any, actually made or paid. 

For purposes of this Section 5.05(A)(iii)(1) (and subject to Section 5.05(F)), rights,
options or warrants distributed by the Company to all holders of Ordinary Shares entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Ordinary Shares (either initially or under certain circumstances),
which rights, options or warrants, until the occurrence of a specified event or events (“Trigger Event”): (x) are deemed to be transferred with such Ordinary Shares; (y) are not exercisable; and (z) are also issued in
respect of future issuances of Ordinary Shares, will be deemed not to have been distributed for purposes of this Section 5.05(A)(iii)(1) (and no adjustment to the Conversion Rate under this
Section 5.05(A)(iii)(1) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants will be deemed to have been distributed and an appropriate adjustment (if any is
required) to the Conversion Rate will be made pursuant to this Section 5.05(A)(iii)(1). If any such right, option or warrant, including any such existing rights, options or warrants distributed before the Issue Date, are
subject to events, upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the occurrence of any and each such event will be
deemed to be the date of distribution and Ex-Dividend Date with respect to new rights, options or warrants with such rights (in which case, the existing rights, options or warrants will be deemed to terminate
and expire on such date without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the
immediately preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment to the Conversion Rate pursuant to this Section 5.05(A)(iii)(1) was made,
(x) in the case of any such rights, options or warrants that shall all have been redeemed or purchased without exercise by any holders thereof, upon such final redemption or purchase (I) the Conversion Rate will be readjusted as if such
rights, options or warrants had not been issued; and (II) the Conversion Rate will then again be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it were a cash distribution,
equal to the per share redemption or purchase price received by a holder or holders of Ordinary Shares with respect to such rights, options or warrants 

  
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(assuming such holder had retained such rights, options or warrants), made to all holders of Ordinary Shares as of the date of such redemption or purchase; and (y) in the case of such
rights, options or warrants that have expired or been terminated without exercise by any holders thereof, the Conversion Rate will be readjusted as if such rights, options and warrants had not been issued. 

(2) Spin-Offs. If the Company distributes or dividends shares of Capital Stock of any class or series, or similar equity
interests, of or relating to an Affiliate, a Subsidiary or other business unit of the Company to all or substantially all holders of Ordinary Shares (other than solely pursuant to (x) an Ordinary Share Change Event, as to which
Section 5.09 will apply; or (y) a tender offer or exchange offer for Ordinary Shares, as to which Section 5.05(A)(v) will apply), and such Capital Stock or equity interests are listed or
quoted (or will be listed or quoted upon the consummation of the transaction) on a U.S. national securities exchange (a “Spin-Off”), then the Conversion Rate will be increased based on the
following formula: 
  
 

 
 where: 
  

					
	CR0	  	=	  	the Conversion Rate in effect immediately before the Close of Business on the last Trading Day of the Spin-Off Valuation Period for such
Spin-Off;
			
	CR1	  	=	  	the Conversion Rate in effect immediately after the Close of Business on the last Trading Day of the Spin-Off Valuation Period;
			
	FMV	  	=	  	the product of (x) the average of the Last Reported Sale Prices per share or unit of the Capital Stock or equity interests distributed in such Spin-Off over the ten (10) consecutive
Trading Day period (the “Spin-Off Valuation Period”) beginning on, and including, such Ex-Dividend Date (such average to be determined as if references
to Ordinary Shares in the definitions of Last Reported Sale Price, Trading Day and Market Disruption Event were instead references to such Capital Stock or equity interests); and (y) the number of shares or units of such Capital Stock or equity
interests distributed per Ordinary Share in such Spin-Off; and
			
	SP	  	=	  	the average of the Last Reported Sale Prices per Ordinary Share for each Trading Day in the Spin-Off Valuation Period.

 Notwithstanding anything to the contrary in this Section 5.05(A)(iii)(2), (i) if any
VWAP Trading Day of the Observation Period for a Note whose conversion will be settled pursuant to Cash Settlement or Combination Settlement occurs during the Spin-Off Valuation Period for such Spin-Off, then, solely for purposes of determining the Conversion Rate for such VWAP Trading Day for such conversion, 

  
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such Spin-Off Valuation Period will be deemed to consist of the Trading Days occurring in the period from, and including, the Ex-Dividend Date for such Spin-Off to, and including, such VWAP Trading Day; and (ii) if the Conversion Date for a Note whose conversion will be settled pursuant to
Physical Settlement occurs during the Spin-Off Valuation Period for such Spin-Off, then, solely for purposes of determining the Conversion Consideration for such
conversion, such Spin-Off Valuation Period will be deemed to consist of the Trading Days occurring in the period from, and including, the Ex-Dividend Date for such Spin-Off to, and including, such Conversion Date. 
 To the extent any dividend or distribution of the type
set forth in this Section 5.05(A)(iii)(2) is declared but not made or paid, the Conversion Rate will be readjusted to the Conversion Rate that would then be in effect had the adjustment been made on the basis of only the
dividend or distribution, if any, actually made or paid. 
 (iv) Cash Dividends or Distributions. If any cash dividend
or distribution is made to all or substantially all holders of Ordinary Shares, then the Conversion Rate will be increased based on the following formula: 
  

 
 where: 
  

							
		 	CR0	  	=	 	the Conversion Rate in effect immediately before the Open of Business on the Ex-Dividend Date for such dividend or distribution;
				
		 	CR1	  	=	 	the Conversion Rate in effect immediately after the Open of Business on such Ex-Dividend Date;
				
		 	SP	  	=	 	the Last Reported Sale Price per Ordinary Share on the Trading Day immediately before such Ex-Dividend Date; and
				
	    	 	D	  	=	 	the cash amount distributed Ordinary Share in such dividend or distribution;

 provided, however, that if D is equal to or greater than SP, then, in lieu of the
foregoing adjustment to the Conversion Rate, each Holder will receive, for each $1,000 principal amount of Notes held by such Holder on the record date for such dividend or distribution, at the same time and on the same terms as holders of Ordinary
Shares, and without having to convert its Notes, the amount of cash that such Holder would have received if such Holder had owned, on such record date, a number of Ordinary Shares equal to the Conversion Rate in effect on such record date. 

To the extent such dividend or distribution is declared but not made or paid, the Conversion Rate will be readjusted to the Conversion Rate
that would then be in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid. 

  
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 (v) Tender Offers or Exchange Offers. If the Company or any of its
Subsidiaries makes a payment in respect of a tender offer or exchange offer for Ordinary Shares (other than solely pursuant to an odd-lot tender offer pursuant to Rule
13e-4(h)(5) under the Exchange Act), and the value (determined as of the Expiration Time by the Board of Directors) of the cash and other consideration paid per Ordinary Share in such tender or exchange offer
exceeds the Last Reported Sale Price per Ordinary Share on the Trading Day immediately after the last date (the “Expiration Date”) on which tenders or exchanges may be made pursuant to such tender or exchange offer (as it may be
amended), then the Conversion Rate will be increased based on the following formula: 
  
 

 
 where: 
  

							
		 	CR0	  	=	 	the Conversion Rate in effect immediately before the Close of Business on the last Trading Day of the Tender/Exchange Offer Valuation Period for such tender or exchange offer;
				
		 	CR1	  	=	 	the Conversion Rate in effect immediately after the Close of Business on the last Trading Day of the Tender/Exchange Offer Valuation Period;
				
		 	AC	  	=	 	the aggregate value (determined as of the time (the “Expiration Time”) such tender or exchange offer expires by the Board of Directors) of all cash and other consideration paid for Ordinary Share purchased or
exchanged in such tender or exchange offer;
				
	    	 	OS0	  	=	 	the number of Ordinary Shares outstanding immediately before the Expiration Time (including all Ordinary Shares accepted for purchase or exchange in such tender or exchange offer);
				
		 	OS1	  	=	 	the number Ordinary Shares outstanding immediately after the Expiration Time (excluding all Ordinary Shares accepted for purchase or exchange in such tender or exchange offer); and
				
		 	SP	  	=	 	the average of the Last Reported Sale Prices per Ordinary Share over the ten (10) consecutive Trading Day period (the “Tender/Exchange Offer Valuation Period”) beginning on, and including, the Trading
Day immediately after the Expiration Date;

  
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 provided, however, that the Conversion Rate will in no event be adjusted down
pursuant to this Section 5.05(A)(v), except to the extent provided in the immediately following paragraph. Notwithstanding anything to the contrary in this Section 5.05(A)(v), (i) if any VWAP
Trading Day of the Observation Period for a Note whose conversion will be settled pursuant to Cash Settlement or Combination Settlement occurs during the Tender/Exchange Offer Valuation Period for such tender or exchange offer, then, solely for
purposes of determining the Conversion Rate for such VWAP Trading Day for such conversion, such Tender/Exchange Offer Valuation Period will be deemed to consist of the Trading Days occurring in the period from, and including, the Trading Day
immediately after the Expiration Date for such tender or exchange offer to, and including, such VWAP Trading Day; and (ii) if the Conversion Date for a Note whose conversion will be settled pursuant to Physical Settlement occurs during the
Tender/Exchange Offer Valuation Period for such tender or exchange offer, then, solely for purposes of determining the Conversion Consideration for such conversion, such Tender/Exchange Offer Valuation Period will be deemed to consist of the Trading
Days occurring in the period from, and including, the Trading Day immediately after the Expiration Date to, and including, such Conversion Date. 

To the extent such tender or exchange offer is announced but not consummated (including as a result of the Company being precluded from
consummating such tender or exchange offer under applicable law), or any purchases or exchanges of Ordinary Shares in such tender or exchange offer are rescinded, the Conversion Rate will be readjusted to the Conversion Rate that would then be in
effect had the adjustment been made on the basis of only the purchases or exchanges of Ordinary Shares, if any, actually made, and not rescinded, in such tender or exchange offer. 

(B) No Adjustments in Certain Cases. 

(i) Where Holders Participate in the Transaction or Event Without Conversion. Notwithstanding anything to the contrary
in Section 5.05(A), the Company will not be obligated to adjust the Conversion Rate on account of a transaction or other event otherwise requiring an adjustment pursuant to Section 5.05(A) (other
than a share split or combination of the type set forth in Section 5.05(A)(i) or a tender or exchange offer of the type set forth in Section 5.05(A)(v)) if each Holder participates, at the same
time and on the same terms as holders of Ordinary Shares, and solely by virtue of being a Holder of Notes, in such transaction or event without having to convert such Holder’s Notes and as if such Holder held a number of Ordinary Shares equal
to the product of (i) the Conversion Rate in effect on the related record date; and (ii) the aggregate principal amount (expressed in thousands) of Notes held by such Holder on such date. 

(ii) Certain Events. The Company will not be required to adjust the Conversion Rate except as provided in
Section 5.05 or Section 5.07. Without limiting the foregoing, the Company will not be obligated to adjust the Conversion Rate on account of: 

(1) except as otherwise provided in Section 5.05, the sale of Ordinary Shares for a purchase price
that is less than the market price per Ordinary Share or less than the Conversion Price; 
 (2) the issuance of any Ordinary
Shares pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in Ordinary Shares under any such plan; 

  
 - 59 - 

 (3) the issuance of any Ordinary Shares or options or rights to purchase
Ordinary Shares pursuant to any present or future employee, director or consultant benefit plan or program of, or assumed by, the Company or any of its Subsidiaries; 

(4) the issuance of any Ordinary Shares pursuant to any option, warrant, right or convertible or exchangeable security of the
Company outstanding as of the Issue Date; 
 (5) solely a change in the par value of the Ordinary Shares; or 

(6) accrued and unpaid interest on the Notes. 

(C) If an adjustment to the Conversion Rate otherwise required by this Article 5 would result in a change of less than one percent (1%)
to the Conversion Rate, then, notwithstanding anything to the contrary in this Article 5, the Company may, at its election, defer such adjustment, except that all such deferred adjustments must be given effect immediately upon the earliest of
the following: (i) when all such deferred adjustments would result in an aggregate change of at least one percent (1%) to the Conversion Rate; (ii) the Conversion Date of, or any VWAP Trading Day of an Observation Period for, any Note;
(iii) the effective date of a Fundamental Change or a Make-Whole Fundamental Change Effective Date occurs; (iv) any date the Company calls any Notes for Redemption; and (v) August 15, 2025. 

(D) Adjustments Not Yet Effective. Notwithstanding anything to the contrary in this Indenture or the Notes, if: 

(i) a Note is to be converted and Physical Settlement or Combination Settlement applies to such conversion; 

(ii) the record date, effective date or Expiration Time for any event that requires an adjustment to the Conversion Rate
pursuant to Section 5.05(A) has occurred on or before the Conversion Date for such conversion (in the case of Physical Settlement) or on or before any VWAP Trading Day in the Observation Period for such conversion (in the
case of Combination Settlement), but an adjustment to the Conversion Rate for such event has not yet become effective as of such Conversion Date or VWAP Trading Day, as applicable; 

(iii) the Conversion Consideration due upon such conversion (in the case of Physical Settlement) or due in respect of such VWAP
Trading Day (in the case of Combination Settlement) includes any whole Ordinary Shares; and 
 (iv) such Ordinary Shares are
not entitled to participate in such event (because they were not held on the related record date or otherwise), 

  
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 then, solely for purposes of such conversion, the Company will, without duplication, give effect to such
adjustment on such Conversion Date (in the case of Physical Settlement) or such VWAP Trading Day (in the case of Combination Settlement). In such case, if the date on which the Company is otherwise required to deliver the consideration due upon such
conversion is before the first date on which the amount of such adjustment can be determined, then the Company will delay the settlement of such conversion until the second (2nd) Business Day after such first date. 

(E) Conversion Rate Adjustments where Converting Holders Participate in the Relevant Transaction or
Event. Notwithstanding anything to the contrary in this Indenture or the Notes, if: 
 (i) a Conversion Rate
adjustment for any dividend or distribution becomes effective on any Ex-Dividend Date pursuant to Section 5.05(A); 

(ii) a Note is to be converted pursuant to Physical Settlement or Combination Settlement; 

(iii) the Conversion Date for such conversion (in the case of Physical Settlement) or any VWAP Trading Day in the Observation
Period for such conversion (in the case of Combination Settlement) occurs on or after such Ex-Dividend Date and on or before the related record date; 

(iv) the Conversion Consideration due upon such conversion (in the case of Physical Settlement) or due in respect of such VWAP
Trading Day (in the case of Combination Settlement) includes any whole Ordinary Shares based on a Conversion Rate that is adjusted for such dividend or distribution; and 

(v) such Ordinary Shares would be entitled to participate in such dividend or distribution (including pursuant to
Section 5.02(C)), 
 then (x) in the case of Physical Settlement, such Conversion Rate adjustment will not be given effect
for such conversion, and the Ordinary Shares issuable upon such conversion based on such unadjusted Conversion Rate will not be entitled to participate in such dividend or distribution, but there will be added, to the consideration otherwise due
upon such conversion, the same kind and amount of consideration that would have been delivered in such dividend or distribution with respect to such Ordinary Shares had such Ordinary Shares been entitled to participate in such dividend or
distribution; and (y) in the case of Combination Settlement, the Conversion Rate adjustment relating to such Ex-Dividend Date will be made for such conversion in respect of such VWAP Trading Day, but the
Ordinary Shares issuable with respect to such VWAP Trading Day based on such adjusted Conversion Rate will not be entitled to participate in such dividend or distribution. 

(F) Shareholder Rights Plans. If the Company has a shareholder rights plan in effect upon the conversion of any Notes into Ordinary
Shares, the person to whom such Ordinary Shares are to be delivered upon conversion will receive, in addition to any Ordinary Shares received in connection with such conversion, the rights under the shareholder rights plan; provided,
however, that if, prior to any conversion of Notes, the rights pursuant to any such shareholder rights plan have separated from the Ordinary Shares in accordance with the provisions of such shareholder rights plan, then the Conversion Rate
will be adjusted pursuant to Section 5.05(A)(iii)(1) at the time of separation as if the Company distributed to all or substantially all holders of Ordinary Shares, shares of its Capital Stock, evidences of indebtedness,
assets, property, rights, options or warrants of the type set forth in such section, subject to readjustment in accordance with such section. 

  
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 (G) Limitation on Effecting Transactions Resulting in Certain Adjustments. The
Company will not engage in or be a party to any transaction or event that would require the Conversion Rate to be adjusted pursuant to Section 5.05(A) or Section 5.07 to an amount that would result
in the Conversion Price per Ordinary Share being less than the par value per Ordinary Share. 
 (H) Equitable Adjustments to Prices.
Whenever any provision of this Indenture requires the Company to calculate the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values, the Daily Cash Amounts or the Daily Share Amounts over a span of multiple days (including over an
Observation Period and the period, if any, for determining the Share Price), the Company will, acting in good faith and in a commercially reasonable manner, make appropriate adjustments, if any, to each to account for any adjustment to the
Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date, effective date or Expiration Date of the event occurs, at any time during the
period when the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values, the Daily Cash Amounts or the Daily Share Amounts are to be calculated. 

(I) Calculation of Number of Outstanding Ordinary Shares. For purposes of Section 5.05(A), the number of
Ordinary Shares outstanding at any time will (i) include shares issuable in respect of scrip certificates issued in lieu of fractions of Ordinary Shares; and (ii) exclude Ordinary Shares held in the Company’s treasury (unless the
Company pays any dividend or makes any distribution on Ordinary Shares held in its treasury). 
 (J) Calculations. All calculations
with respect to the Conversion Rate and adjustments thereto will be made to the nearest 1/10,000th of an Ordinary Share (with 5/100,000ths rounded upward), as applicable. 

(K) Notice of Conversion Rate Adjustments. Upon the effectiveness of any adjustment to the Conversion Rate pursuant to
Section 5.05(A), the Company will promptly send notice to the Holders, the Trustee and the Conversion Agent (if other than the Trustee) containing (i) a brief description of the transaction or other event on account of
which such adjustment was made; (ii) the Conversion Rate in effect immediately after such adjustment; and (iii) the effective time of such adjustment. 

Section 5.06. VOLUNTARY ADJUSTMENTS. 

(A) Generally. To the extent permitted by law and applicable stock exchange rules, the Company, from time to time, may (but is not
required to) increase the Conversion Rate by any amount if (i) the Board of Directors determines that such increase is either (x) in the best interest of the Company; or (y) advisable to avoid or diminish any income tax imposed on
holders of Ordinary Shares or rights to purchase Ordinary Shares as a result of any dividend or distribution of shares (or rights to acquire shares) or any similar event; (ii) such increase is in effect for a period of at least twenty
(20) Business Days; and (iii) such increase is irrevocable during such period. 

  
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 (B) Notice of Voluntary Increases. If the Board of Directors determines to increase
the Conversion Rate pursuant to this Section 5.06, then, at least fifteen (15) Business Days before such increase, the Company will send notice to each Holder of such increase, the amount thereof and the period during
which such increase will be in effect. 
 Section 5.07. ADJUSTMENTS TO THE CONVERSION
RATE IN CONNECTION WITH A MAKE-WHOLE FUNDAMENTAL CHANGE. 

(A) Generally. If a Make-Whole Fundamental Change occurs and the Conversion Date for the conversion of a Note occurs during the related
Make-Whole Fundamental Change Conversion Period, then, subject to this Section 5.07, the Conversion Rate applicable to such conversion will be increased by a number of shares (the “Additional Shares”) set
forth in the table below corresponding (after interpolation as provided in, and subject to, the provisions below) to the Make-Whole Fundamental Change Effective Date and the Share Price of such Make-Whole Fundamental Change: 

 

																																																	
	 Make-Whole
Fundamental
Change Effective
Date
	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 
	  	Share Price	 
	  	$31.85	 	  	$35.00	 	  	$40.61	 	  	$45.00	 	  	$54.15	 	  	$60.00	 	  	$75.00	 	  	$90.00	 	  	$120.00	 	  	$150.00	 	  	$200.00	 	  	$400.00	 
	 February 11, 2020
	  	 	6.7719	 	  	 	5.6286	 	  	 	4.1975	 	  	 	3.4320	 	  	 	2.4079	 	  	 	1.9932	 	  	 	1.3488	 	  	 	0.9978	 	  	 	0.6253	 	  	 	0.4256	 	  	 	0.2380	 	  	 	0.0000	 
	 February 15, 2021
	  	 	6.7719	 	  	 	5.4711	 	  	 	3.9589	 	  	 	3.1698	 	  	 	2.1496	 	  	 	1.7525	 	  	 	1.1615	 	  	 	0.8539	 	  	 	0.5360	 	  	 	0.3665	 	  	 	0.2064	 	  	 	0.0000	 
	 February 15, 2022
	  	 	6.7719	 	  	 	5.2494	 	  	 	3.6459	 	  	 	2.8358	 	  	 	1.8349	 	  	 	1.4665	 	  	 	0.9488	 	  	 	0.6950	 	  	 	0.4388	 	  	 	0.3016	 	  	 	0.1707	 	  	 	0.0000	 
	 February 15, 2023
	  	 	6.7719	 	  	 	4.9851	 	  	 	3.2630	 	  	 	2.4300	 	  	 	1.4665	 	  	 	1.1403	 	  	 	0.7187	 	  	 	0.5273	 	  	 	0.3368	 	  	 	0.2330	 	  	 	0.1325	 	  	 	0.0000	 
	 February 15, 2024
	  	 	6.7719	 	  	 	4.6591	 	  	 	2.7673	 	  	 	1.9127	 	  	 	1.0273	 	  	 	0.7688	 	  	 	0.4760	 	  	 	0.3543	 	  	 	0.2306	 	  	 	0.1604	 	  	 	0.0914	 	  	 	0.0000	 
	 February 15, 2025
	  	 	6.7719	 	  	 	4.2346	 	  	 	2.0421	 	  	 	1.1856	 	  	 	0.5032	 	  	 	0.3625	 	  	 	0.2332	 	  	 	0.1797	 	  	 	0.1191	 	  	 	0.0832	 	  	 	0.0476	 	  	 	0.0000	 
	 February 15, 2026
	  	 	6.7719	 	  	 	3.9463	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 

 If such Make-Whole Fundamental Change Effective Date or Share Price is not set forth in the table above, then:

 (i) if such Share Price is between two Share Prices in the table above or the Make-Whole Fundamental Change Effective Date
is between two dates in the table above, then the number of Additional Shares will be determined by straight-line interpolation between the numbers of Additional Shares set forth for the higher and lower Share Prices in the table above or the
earlier and later dates in the table above, based on a 365- or 366-day year, as applicable; and 

(ii) if the Share Price is greater than $400.00 (subject to adjustment in the same manner as the Share Prices set forth in the
column headings of the table above are adjusted pursuant to Section 5.07(B)), or less than $31.85 (subject to adjustment in the same manner), per share, then no Additional Shares will be added to the Conversion Rate. 

Notwithstanding anything to the contrary in this Indenture or the Notes, in no event will the Conversion Rate be increased to an amount that
exceeds 31.3971 Ordinary Shares per $1,000 principal amount of Notes, which amount is subject to adjustment in the same manner as, and at the same time and for the same events for which, the Conversion Rate is required to be adjusted pursuant to
Section 5.05(A). 

  
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 For the avoidance of doubt, subject to Section 4.03(L), (x) the
sending of a Redemption Notice will constitute a Make-Whole Fundamental Change only with respect to the Notes called (or deemed called) for Redemption pursuant to such Redemption Notice, and not with respect to any other Notes; and (y) the
Conversion Rate applicable to the Notes not so called for Redemption will not be subject to increase pursuant to this Section 5.07 on account of such Redemption Notice, except to the limited extent described in
Section 4.03(L). 
 (B) Adjustment of Share Prices and Additional Shares. The Share Prices in the first row
(i.e., the column headers) of the table set forth in Section 5.07(A) will be adjusted in the same manner as, and at the same time and for the same events for which, the Conversion Price is adjusted as a result of the
operation of Section 5.05(A). The numbers of Additional Shares in the table set forth in Section 5.07(A) will be adjusted in the same manner as, and at the same time and for the same events for
which, the Conversion Rate is adjusted pursuant to Section 5.07(A). 
 (C) Notice of the Occurrence of a
Make-Whole Fundamental Change. The Company will notify the Holders, the Trustee and the Conversion Agent (if other than the Trustee) of each Make-Whole Fundamental Change occurring pursuant to clause (A) of the definition thereof in
accordance with Section 5.01(C)(i)(3)(b). 
 (D) Settlement of Cash Make-Whole Fundamental Changes. For the
avoidance of doubt, if holders of Ordinary Shares receive solely cash in a Make-Whole Fundamental Change, then, pursuant to Section 5.09, conversions of Notes will thereafter be settled no later than the second (2nd)
Business Day after the relevant Conversion Date. 
 Section 5.08. EXCHANGE IN LIEU OF
CONVERSION. 
 Notwithstanding anything to the contrary in this Article 5, and subject to the terms of this
Section 5.08, if a Note is submitted for conversion, the Company may elect to arrange to have such Note exchanged in lieu of conversion by a financial institution designated by the Company. To make such election, the
Company must send notice of such election to the Holder of such Note, the Trustee and the Conversion Agent (if other than the Trustee) before the Close of Business on the Business Day immediately following the Conversion Date for such Note. If the
Company has made such election, then: 
 (A) no later than the Business Day immediately following such Conversion Date, the Company must
deliver (or cause the Conversion Agent to deliver) such Note, together with delivery instructions for the Conversion Consideration due upon such conversion (including wire instructions, if applicable), to a financial institution designated by the
Company that has agreed to deliver such Conversion Consideration in the manner and at the time the Company would have had to deliver the same pursuant to this Article 5; 

(B) if such Note is a Global Note, then (i) such designated institution will send written confirmation to the Conversion Agent promptly
after wiring the cash Conversion Consideration, if any, and delivering any other Conversion Consideration, due upon such conversion to the Holder of such Note; and (ii) the Conversion Agent will as soon as reasonably practicable thereafter
contact such Holder’s custodian with the Depositary to confirm receipt of the same; and 
 (C) such Note will not cease to be
outstanding by reason of such exchange in lieu of conversion; 

  
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 provided, however, that if such financial institution does not accept such Note or fails to
timely deliver such Conversion Consideration, then the Company will be responsible for delivering such Conversion Consideration in the manner and at the time provided in this Article 5 as if the Company had not elected to make an exchange in
lieu of conversion. The Conversion Agent shall be entitled to conclusively rely upon the Company’s instruction in connection with effecting such exchange election and shall have no liability in respect of such exchange election. 

Section 5.09. EFFECT OF ORDINARY SHARE CHANGE EVENT.

 (A) Generally. If there occurs any: 

(i) recapitalization, reclassification or change of the Ordinary Shares (other than (x) changes solely resulting from a
subdivision or combination of the Ordinary Shares, (y) a change only in par value or from par value to no par value or no par value to par value and (z) share splits and share combinations that do not involve the issuance of any other
series or class of securities); 
 (ii) consolidation, merger, combination or binding or statutory share exchange involving
the Company; 
 (iii) sale, lease or other transfer of all or substantially all of the assets of the Company and its
Subsidiaries, taken as a whole, to any Person; or 
 (iv) other similar event, 

and, as a result of which, the Ordinary Shares are converted into, or are exchanged for, or represent solely the right to receive, other securities, cash or
other property, or any combination of the foregoing (such an event, an “Ordinary Share Change Event,” and such other securities, cash or property, the “Reference Property,” and the amount and kind of
Reference Property that a holder of one (1) Ordinary Share would be entitled to receive on account of such Ordinary Share Change Event (without giving effect to any arrangement not to issue or deliver a fractional portion of any security or
other property), a “Reference Property Unit”), then, notwithstanding anything to the contrary in this Indenture or the Notes, 

(1) from and after the effective time of such Ordinary Share Change Event, (I) the Conversion Consideration due upon
conversion of any Note, and the conditions to any such conversion, will be determined in the same manner as if each reference to any number of Ordinary Shares in this Article 5 (or in any related definitions) were instead a reference to the
same number of Reference Property Units; (II) for purposes of the definition of “Fundamental Change” and “Make-Whole Fundamental Change,” the terms “Ordinary Share” and “common equity” will be deemed to
mean the common equity (including depositary receipts representing common equity), if any, forming part of such Reference Property; and (III) for purposes of Section 4.03, each reference to any number of Ordinary
Shares in such Section (or in any related definitions) will instead be deemed to be a reference to the same number of Reference Property Units; 

  
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 (2) if such Reference Property Unit consists entirely of cash, then the
Company will be deemed to elect Physical Settlement in respect of all conversions whose Conversion Date occurs on or after the effective date of such Ordinary Share Change Event and will pay the cash due upon such conversions no later than the
second (2nd) Business Day after the relevant Conversion Date; and 
 (3) for these purposes, (i) the Daily VWAP of any
Reference Property Unit or portion thereof that consists of common equity securities will be determined by reference to the definition of “Daily VWAP,” substituting, if applicable, the Bloomberg pages for such class of securities in such
definition and (ii) the Daily VWAP of any Reference Property Unit or portion thereof that does not consist of a class of common equity securities, and the Last Reported Sale Price of any Reference Property Unit or portion thereof that does not
consist of a class of securities, will be the fair value of such Reference Property Unit or portion thereof, as applicable, determined in good faith and in a commercially reasonable manner by the Company (or, in the case of cash denominated in U.S.
dollars, the face amount thereof). 
 If the Reference Property consists of more than a single type of consideration to be determined based
in part upon any form of shareholder election, then the composition of the Reference Property Unit will be deemed to be the weighted average of the types and amounts of consideration actually received, per Ordinary Share, by the holders of Ordinary
Shares. The Company will notify Holders, the Trustee and the Conversion Agent (if other than the Trustee) of such weighted average as soon as practicable after such determination is made. 

At or before the effective time of such Ordinary Share Change Event, the Company and the resulting, surviving or transferee Person (if not the
Company) of such Ordinary Share Change Event (the “Successor Person”) will execute and deliver to the Trustee a supplemental indenture pursuant to Section 8.01(F), which supplemental indenture will
(x) provide for subsequent conversions of Notes in the manner set forth in this Section 5.09; (y) provide for subsequent adjustments to the Conversion Rate pursuant to Section 5.07(A) in a
manner consistent with this Section 5.09; and (z) contain such other provisions, if any, that the Company determines in good faith and in a commercially reasonable manner are appropriate to preserve the economic
interests of the Holders and to give effect to the provisions of this Section 5.09(A). If the Reference Property includes shares of stock or other securities or assets of a Person other than the Successor Person, then such
other Person will also execute such supplemental indenture and such supplemental indenture will contain such additional provisions, if any, that the Company reasonably determines are appropriate to preserve the economic interests of the Holders.

 (B) Notice of Ordinary Share Change Events. The Company will provide notice of each Ordinary Share Change Event in the manner
provided in Section 5.01(C)(i)(3)(b). 
 (C) Compliance Covenant. The Company will not become a party to any Ordinary Share
Change Event unless its terms are consistent with this Section 5.09. 

  
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 Article 6. SUCCESSORS 

Section 6.01. WHEN THE COMPANY MAY MERGE, ETC. 

(A) Generally. The Company will not consolidate with or merge with or into, or (directly, or indirectly through one or more of the
Company’s Subsidiaries) sell, lease or otherwise transfer, in one transaction or a series of transactions, all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to another Person (a “Business
Combination Event”), unless: 
 (i) the resulting, surviving or transferee Person either (x) is the Company or
(y) if not the Company, is a corporation (the “Successor Corporation”) duly organized and existing under the laws of the Cayman Islands, the United States of America, any State thereof or the District of Columbia that expressly
assumes (by executing and delivering to the Trustee, at or before the effective time of such Business Combination Event, a supplemental indenture pursuant to Section 8.01(E)) all of the Company’s obligations under this
Indenture and the Notes (including, for the avoidance of doubt, the obligation to pay Additional Amounts pursuant to Section 3.05); and 

(ii) immediately after giving effect to such Business Combination Event, no Default or Event of Default will have occurred and
be continuing. 
 (B) Delivery of Officer’s Certificate and Opinion of Counsel to the Trustee. Before the
effective time of any Business Combination Event, the Company will deliver to the Trustee an Officer’s Certificate and Opinion of Counsel, each stating that (i) such Business Combination Event (and, if applicable, the related supplemental
indenture) comply with Section 6.01(A); and (ii) all conditions precedent to such Business Combination Event provided in this Indenture have been satisfied. 

Section 6.02. SUCCESSOR CORPORATION SUBSTITUTED. 

At the effective time of any Business Combination Event that complies with Section 6.01, the Successor Corporation
(if not the Company) will succeed to, and may exercise every right and power of, the Company under this Indenture and the Notes with the same effect as if such Successor Corporation had been named as the Company in this Indenture and the Notes, and,
except in the case of a lease, the predecessor Company will be discharged from its obligations under this Indenture and the Notes. 

Article 7. DEFAULTS AND REMEDIES 

Section 7.01. EVENTS OF DEFAULT. 

(A) Definition of Events of Default. “Event of Default” means the occurrence of any of the following: 

(i) a default in the payment when due (whether at maturity, upon Redemption, Repurchase Upon Fundamental Change or otherwise)
of the principal of, or the Redemption Price or Fundamental Change Repurchase Price for, any Note; 

  
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 (ii) a default for thirty (30) consecutive days in the payment when due
of interest on any Note; 
 (iii) the Company’s failure to deliver, when required by this Indenture, (x) a
Fundamental Change Notice or (y) a notice pursuant to Section 5.01(C)(i)(3), if, in the case of clause (x) only, such failure is not cured within five (5) Business Days after its occurrence; 

(iv) a default in the Company’s obligation to convert a Note in accordance with Article 5 upon the exercise of the
conversion right with respect thereto, if such default is not cured within three (3) Business Days after its occurrence; 

(v) a default in the Company’s obligations under Article 6; 

(vi) a default in any of the Company’s obligations or agreements under this Indenture or the Notes (other than a default
set forth in clause (i), (ii), (iii), (iv) or (v) of this Section 7.01(A)) where such default is not cured or waived within sixty (60) days after notice to the Company by
the Trustee, or to the Company and the Trustee by Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, which notice must specify such default, demand that it be remedied and state that such
notice is a “Notice of Default”; 
 (vii) a default by the Company or any of its Subsidiaries with respect to any
one or more mortgages, agreements or other instruments under which there is outstanding, or by which there is secured or evidenced, any indebtedness for money borrowed of at least twelve million dollars ($12,000,000) (or its foreign currency
equivalent) in the aggregate of the Company or any of its Subsidiaries, whether such indebtedness exists as of the Issue Date or is thereafter created, where such default: 

(1) constitutes a failure to pay the principal of or interest on such indebtedness when due and payable at its stated maturity,
upon required repurchase, upon declaration of acceleration or otherwise, in each case after the expiration of any applicable grace period; or 

(2) results in such indebtedness becoming or being declared due and payable before its stated maturity, 

in each case where such default is not cured or waived within thirty (30) days after notice to the Company by the Trustee or to the
Company and the Trustee by Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding; 

(viii) one or more final judgments being rendered against the Company or any of its Subsidiaries for the payment of at least
twelve million dollars ($12,000,000) (or its foreign currency equivalent) in the aggregate (excluding any amounts covered by insurance), where such judgment is not waived, paid, discharged or stayed within sixty (60) days after (i) the
date on which the right to appeal the same has expired, if no such appeal has commenced; or (ii) the date on which all rights to appeal have been extinguished; 

  
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 (ix) the Company or any of its Significant Subsidiaries, pursuant to or
within the meaning of any Bankruptcy Law, either: 
 (1) commences a voluntary case or proceeding; 

(2) consents to the entry of an order for relief against it in an involuntary case or proceeding; 

(3) consents to the appointment of a custodian of it or for any substantial part of its property; 

(4) makes a general assignment for the benefit of its creditors; 

(5) takes any comparable action under any foreign Bankruptcy Law; or 

(6) generally is not paying its debts as they become due; or 

(x) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that either: 

(1) is for relief against Company or any of its Significant Subsidiaries in an involuntary case or proceeding; 

(2) appoints a custodian of the Company or any of its Significant Subsidiaries, or for any substantial part of the property of
the Company or any of its Significant Subsidiaries; 
 (3) orders the winding up or liquidation of the Company or any of its
Significant Subsidiaries; or 
 (4) grants any similar relief under any foreign Bankruptcy Law, 

and, in each case under this Section 7.01(A)(x), such order or decree remains unstayed and in effect for at least
sixty (60) days. 
 (B) Cause Irrelevant. Each of the events set forth in Section 7.01(A) will
constitute an Event of Default regardless of the cause thereof or whether voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or
governmental body. 
 Section 7.02. ACCELERATION. 

(A) Automatic Acceleration in Certain Circumstances. If an Event of Default set forth in Section 7.01(A)(ix)
or 7.01(A)(x) occurs with respect to the Company (and not solely with respect to a Significant Subsidiary of the Company), then the principal amount of, and all accrued and unpaid interest on, all of the Notes then outstanding will
immediately become due and payable without any further action or notice by any Person. 

  
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 (B) Optional Acceleration. Subject to Section 7.03, if an
Event of Default (other than an Event of Default set forth in Section 7.01(A)(ix) or 7.01(A)(x) with respect to the Company and not solely with respect to a Significant Subsidiary of the Company) occurs and is
continuing, then the Trustee, by notice to the Company, or Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, by notice to the Company and the Trustee, may declare the principal amount of, and
all accrued and unpaid interest on, all of the Notes then outstanding to become due and payable immediately. 
 (C) Rescission of
Acceleration. Notwithstanding anything to the contrary in this Indenture or the Notes, the Holders of a majority in aggregate principal amount of the Notes then outstanding, by notice to the Company and the Trustee, may, on behalf of all
Holders, rescind any acceleration of the Notes and its consequences if (i) such rescission would not conflict with any judgment or decree of a court of competent jurisdiction; and (ii) all existing Events of Default (except the non-payment of principal of, or interest on, the Notes that has become due solely because of such acceleration) have been cured or waived. No such rescission will affect any subsequent Default or impair any right
consequent thereto. 
 Section 7.03. SOLE REMEDY FOR A FAILURE
TO REPORT. 
 (A) Generally. Notwithstanding anything to the contrary in this Indenture or the
Notes, the Company may elect that the sole remedy for any Event of Default (a “Reporting Event of Default”) pursuant to Section 7.01(A)(vi) arising from the Company’s failure to comply with
Section 3.02 will, for each of the first one hundred and eighty (180) calendar days on which a Reporting Event of Default has occurred and is continuing, consist exclusively of the accrual of Special Interest on the
Notes. If the Company has made such an election, then (i) the Notes will be subject to acceleration pursuant to Section 7.02 on account of the relevant Reporting Event of Default from, and including, the one hundred
and eighty first (181st) calendar day on which a Reporting Event of Default has occurred and is continuing or if the Company fails to pay any accrued and unpaid Special Interest when due; and (ii) Special Interest will cease to accrue on any
Notes from, and including, such one hundred and eighty first (181st) calendar day (it being understood that interest on any defaulted Special Interest will nonetheless accrue pursuant to Section 2.05(B)). 

(B) Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to
Section 7.03(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof
for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof; provided, however, that in no event will Special
Interest, together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any report (other than Form 8-K reports) that it is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note will be in
addition to the Stated Interest that accrues on such Note and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Interest that accrues on such Note. 

  
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 (C) Notice of Election. To make the election set forth in
Section 7.03(A), the Company must send to the Holders, the Trustee and the Paying Agent, before the date on which each Reporting Event of Default first occurs, a notice that (i) briefly describes the report(s) that the
Company failed to file with or furnish to the SEC; (ii) states that the Company is electing that the sole remedy for such Reporting Event of Default consist of the accrual of Special Interest; and (iii) briefly describes the periods during
which and rate at which Special Interest will accrue and the circumstances under which the Notes will be subject to acceleration on account of such Reporting Event of Default. 

(D) Notice to Trustee and Paying Agent; Trustee’s Disclaimer. If Special Interest accrues on any Note, then, no later than five
(5) Business Days before each date on which such Special Interest is to be paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating (i) that the Company is obligated to pay Special Interest
on such Note on such date of payment; and (ii) the amount of such Special Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any Special Interest is payable or the amount thereof. 

(E) No Effect on Other Events of Default. No election pursuant to this Section 7.03 with respect to a
Reporting Event of Default will affect the rights of any Holder with respect to any other Event of Default, including with respect to any other Reporting Event of Default. 

Section 7.04. OTHER REMEDIES. 

(A) Trustee May Pursue All Remedies. If an Event of Default occurs and is continuing, then the Trustee may pursue any available remedy
to collect the payment of any amounts due with respect to the Notes or to enforce the performance of any provision of this Indenture or the Notes. 

(B) Procedural Matters. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of
them in such proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy following an Event of Default will not impair the right or remedy or constitute a waiver of, or acquiescence in, such Event of Default. All
remedies will be cumulative to the extent permitted by law. 
 Section 7.05. WAIVER OF PAST
DEFAULTS. 
 An Event of Default pursuant to clause (i), (ii), (iv) or (vi) of
Section 7.01(A) (that, in the case of clause (vi) only, results from a Default under any covenant that cannot be amended without the consent of each affected Holder), and a Default that could lead to such an
Event of Default, can be waived only with the consent of each affected Holder. Each other Default or Event of Default may be waived, on behalf of all Holders, by the Holders of a majority in aggregate principal amount of the Notes then outstanding.
If an Event of Default is so waived, then it will cease to exist. If a Default is so waived, then it will be deemed to be cured and any Event of Default arising therefrom will be deemed not to occur. However, no such waiver will extend to any
subsequent or other Default or Event of Default or impair any right arising therefrom. 

  
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 Section 7.06. CONTROL BY MAJORITY. 

Holders of a majority in aggregate principal amount of the Notes then outstanding 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, this Indenture or the Notes, or that, subject to
Section 10.01, the Trustee determines may be unduly prejudicial to the rights of other Holders or may involve the Trustee in liability, unless the Trustee is offered, and, if requested provided, security and indemnity
satisfactory to the Trustee against any loss, liability or expense to the Trustee that may result from the Trustee’s following such direction. 

Section 7.07. LIMITATION ON SUITS. 

No Holder may pursue any remedy with respect to this Indenture or the Notes (except to enforce (x) its rights to receive the principal of,
or the Redemption Price or Fundamental Change Repurchase Price for, or interest on, any Notes; or (y) the Company’s obligations to convert any Notes pursuant to Article 5), unless: 

(A) such Holder has previously delivered to the Trustee notice that an Event of Default is continuing; 

(B) Holders of at least twenty five percent (25%) in aggregate principal amount of the Notes then outstanding deliver a written request to the
Trustee to pursue such remedy; 
 (C) such Holder or Holders offer and, if requested, provide to the Trustee security and indemnity
satisfactory to the Trustee against any loss, liability or expense to the Trustee that may result from the Trustee’s following such request; 

(D) the Trustee does not comply with such request within sixty (60) calendar days after its receipt of such request and such offer of
security or indemnity; and 
 (E) during such sixty (60) calendar day period, Holders of a majority in aggregate principal amount of
the Notes then outstanding do not deliver to the Trustee a direction that is inconsistent with such request. 
 A Holder of a Note may not
use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. The Trustee will have no duty to determine whether any Holder’s use of this Indenture complies with the preceding sentence.

 Section 7.08. ABSOLUTE RIGHT OF HOLDERS TO INSTITUTE
SUIT FOR THE ENFORCEMENT OF THE RIGHT TO RECEIVE PAYMENT AND
CONVERSION CONSIDERATION. 
 Notwithstanding anything to the contrary in this Indenture or the Notes (but
without limiting Section 8.01), the right of each Holder of a Note to bring suit for the enforcement of any payment or delivery, as applicable, of the principal of, or the Redemption Price or Fundamental Change Repurchase
Price for, or any interest on, or the Conversion Consideration due pursuant to Article 5 upon conversion of, such Note on or after the respective due dates therefor provided in this Indenture and the Notes, will not be impaired or affected
without the consent of such Holder. 

  
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 Section 7.09. COLLECTION SUIT BY
TRUSTEE. 
 The Trustee will have the right, upon the occurrence and continuance of an Event of Default pursuant to
clause (i), (ii) or (iv) of Section 7.01(A), to recover judgment in its own name and as trustee of an express trust against the Company for the total unpaid or undelivered principal of, or
Redemption Price or Fundamental Change Repurchase Price for, or interest on, or Conversion Consideration due pursuant to Article 5 upon conversion of, the Notes, as applicable, and, to the extent lawful, any Default Interest on any Defaulted
Amounts, and such further amounts sufficient to cover the costs and expenses of collection, including compensation provided for in Section 10.06. 

Section 7.10. TRUSTEE MAY FILE PROOFS OF CLAIM. 

The Trustee has the right to (A) 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 and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes) or its creditors or property and (B) collect, receive and distribute any money or other property payable
or deliverable on any such claims. Each Holder authorizes any custodian in such proceeding to make such payments to the Trustee, and, if the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount
due to the Trustee for the reasonable compensation, expenses, disbursements and advances of the Trustee, and its agents and counsel, and any other amounts payable to the Trustee pursuant to Section 10.06. To the extent that
the payment of any such compensation, expenses, disbursements, advances and other amounts out of the estate in such proceeding, is denied for any reason, payment of the same will be secured by a lien on, and will 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 in this Indenture will
be deemed to authorize the Trustee to authorize, consent to, accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes 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 7.11. PRIORITIES. 

The Trustee will pay or deliver in the following order any money or other property that it collects pursuant to this Article 7: 

First: to the Trustee, each Note Agent and their agents and attorneys for amounts due under
Section 10.06, including payment of all fees, compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the Note Agents and the costs and expenses of collection; 

Second: to Holders for unpaid amounts or other property due on the Notes, including the principal of, or the Redemption
Price or Fundamental Change Repurchase Price for, or any interest on, or any Conversion Consideration due upon conversion of, the Notes, ratably, and without preference or priority of any kind, according to such amounts or other property due and
payable on all of the Notes; and 

  
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 Third: to the Company or such other Person as a court of competent jurisdiction
directs. 
 The Trustee may fix a record date and payment date for any payment or delivery to the Holders pursuant to this
Section 7.11, in which case the Trustee will instruct the Company to, and the Company will, deliver, at least fifteen (15) calendar days before such record date, to each Holder and the Trustee a notice stating such
record date, such payment date and the amount of such payment or nature of such delivery, as applicable. 
 Section 7.12. UNDERTAKING
FOR COSTS. 
 In any suit for the enforcement of any right or remedy under this Indenture or the Notes or
in any suit against the Trustee for any action taken or omitted by it as Trustee, a court, in its discretion, may (A) require the filing by any litigant party in such suit of an undertaking to pay the costs of such suit, and (B) assess
reasonable costs (including reasonable attorneys’ fees) against any litigant party in such suit, having due regard to the merits and good faith of the claims or defenses made by such litigant party; provided, however, that this
Section 7.12 does not apply to any suit by the Trustee, any suit by a Holder pursuant to Section 7.08 or any suit by one or more Holders of more than ten percent (10%) in aggregate principal amount
of the Notes then outstanding. 
 Article 8. AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 8.01. WITHOUT THE CONSENT OF HOLDERS. 

Notwithstanding anything to the contrary in Section 8.02, the Company and the Trustee may amend or supplement this
Indenture or the Notes without the consent of any Holder to: 
 (A) cure any ambiguity or correct any omission, defect or inconsistency in
this Indenture or the Notes; 
 (B) add guarantees with respect to the Company’s obligations under this Indenture or the Notes; 

(C) secure the Notes; 
 (D) add
to the Company’s covenants or Events of Default for the benefit of the Holders or surrender any right or power conferred on the Company; 

(E) provide for the assumption of the Company’s obligations under this Indenture and the Notes pursuant to, and in compliance with,
Article 6; 
 (F) enter into supplemental indentures pursuant to, and in accordance with, Section 5.09 in
connection with an Ordinary Share Change Event; 
 (G) irrevocably elect or eliminate any Settlement Method or Specified Dollar Amount;
provided, however, that no such election or elimination will affect any Settlement Method theretofore elected (or deemed to be elected) with respect to any Note pursuant to Section 5.03(A); 

  
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 (H) evidence or provide for the acceptance of the appointment, under this Indenture, of a
successor Trustee; 
 (I) conform the provisions of this Indenture and the Notes to the “Description of Notes” section of the
Company’s Preliminary Offering Memorandum, dated February 6, 2020, as supplemented by the related Pricing Term Sheet, dated February 6, 2020; 

(J) provide for or confirm the issuance of additional Notes pursuant to Section 2.03(B); 

(K) comply with any requirement of the SEC in connection with any qualification of this Indenture or any supplemental indenture under the
Trust Indenture Act, as then in effect; or 
 (L) make any other change to this Indenture or the Notes that does not, individually or in the
aggregate with all other such changes, adversely affect the rights of the Holders, as such, in any material respect. 
 Section 8.02.
WITH THE CONSENT OF HOLDERS. 
 (A) Generally. Subject
to Sections 8.01, 7.05 and 7.08 and the immediately following sentence, the Company and the Trustee may, with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding, amend or
supplement this Indenture or the Notes or waive compliance with any provision of this Indenture or the Notes. Notwithstanding anything to the contrary in the foregoing sentence, without the consent of each affected Holder, no amendment or supplement
to this Indenture or the Notes, or waiver of any provision of this Indenture or the Notes, may: 
 (i) reduce the principal,
or extend the stated maturity, of any Note; 
 (ii) reduce the Redemption Price or Fundamental Change Repurchase Price for
any Note or change the times at which, or the circumstances under which, the Notes may or will be redeemed or repurchased by the Company; 

(iii) reduce the rate, or extend the time for the payment, of interest on any Note; 

(iv) make any change that adversely affects the conversion rights of any Note; 

(v) impair the rights of any Holder set forth in Section 7.08 (as such section is in effect on the
Issue Date); 
 (vi) change the ranking of the Notes; 

(vii) make any note payable in money, or at a place of payment, other than that stated in this Indenture or the Note; 

(viii) make any direct or indirect change to the provisions described in Section 3.05 in any manner
that is adverse to the rights of the Holders or beneficial owners of the Notes; 

  
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 (ix) reduce the amount of Notes whose Holders must consent to any amendment,
supplement, waiver or other modification; or 
 (x) make any direct or indirect change to any amendment, supplement, waiver
or modification provision of this Indenture or the Notes that requires the consent of each affected Holder. 
 For the avoidance of doubt,
pursuant to clauses (i), (ii), (iii) and (iv) of this Section 8.02(A), no amendment or supplement to this Indenture or the Notes, or waiver of any provision of this Indenture or the
Notes, may change the amount or type of consideration due on any Note (whether on an Interest Payment Date, Redemption Date, Fundamental Change Repurchase Date or the Maturity Date or upon conversion, or otherwise), or the date(s) or time(s) such
consideration is payable or deliverable, as applicable, without the consent of each affected Holder. 
 (B) Holders Need Not
Approve the Particular Form of any Amendment. A consent of any Holder pursuant to this Section 8.02 need approve only the substance, and not necessarily the particular form, of the proposed amendment,
supplement or waiver. 
 Section 8.03. NOTICE OF AMENDMENTS, SUPPLEMENTS
AND WAIVERS. 
 Promptly after any amendment, supplement or waiver pursuant to
Section 8.01 or 8.02 becomes effective, the Company will send to the Holders and the Trustee notice that (A) describes the substance of such amendment, supplement or waiver in reasonable detail and (B) states the
effective date thereof. The failure to send, or the existence of any defect in, such notice will not impair or affect the validity of such amendment, supplement or waiver. 

Section 8.04. REVOCATION, EFFECT AND SOLICITATION OF
CONSENTS; SPECIAL RECORD DATES; ETC. 
 (A) Revocation and
Effect of Consents. The consent of a Holder of a Note to an amendment, supplement or waiver will bind (and constitute the consent of) each subsequent Holder of any Note to the extent the same evidences any portion of the same indebtedness as the
consenting Holder’s Note, subject to the right of any Holder of a Note to revoke (if not prohibited pursuant to Section 8.04(B)) any such consent with respect to such Note by delivering notice of revocation to the
Company (or its agent) and the Trustee before the time such amendment, supplement or waiver becomes effective. 
 (B) Special Record
Dates. The Company may, but is not required to, fix a record date for the purpose of determining the Holders entitled to consent or take any other action in connection with any amendment, supplement or waiver pursuant to this Article 8.
If a record date is fixed, then, notwithstanding anything to the contrary in Section 8.04(A), only Persons who are Holders as of such record date (or their duly designated proxies) will be entitled to give such consent, to
revoke any consent previously given or to take any such action, regardless of whether such Persons continue to be Holders after such record date; provided, however, that no such consent will be valid or effective for more than one
hundred and twenty (120) calendar days after such record date. 

  
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 (C) Solicitation of Consents. For the avoidance of doubt, each reference in this
Indenture or the Notes to the consent of a Holder will be deemed to include any such consent obtained in connection with a repurchase of, or tender or exchange offer for, any Notes. 

(D) Effectiveness and Binding Effect. Each amendment, supplement or waiver pursuant to this Article 8 will become effective in
accordance with its terms and, when it becomes effective with respect to any Note (or any portion thereof), will thereafter bind every Holder of such Note (or such portion). 

Section 8.05. NOTATIONS AND EXCHANGES. 

If any amendment, supplement or waiver changes the terms of a Note, then the Trustee or the Company may, in its discretion, require the Holder
of such Note to deliver such Note to the Trustee so that the Trustee may place an appropriate notation prepared by the Company on such Note and return such Note to such Holder. Alternatively, at its discretion, the Company may, in exchange for such
Note, issue, execute and deliver, and the Trustee will authenticate, in each case in accordance with Section 2.02, a new Note that reflects the changed terms. The failure to make any appropriate notation or issue a new Note
pursuant to this Section 8.05 will not impair or affect the validity of such amendment, supplement or waiver. 

Section 8.06. TRUSTEE TO EXECUTE SUPPLEMENTAL INDENTURES. 

The Trustee will execute and deliver any amendment or supplemental indenture authorized pursuant to this Article 8; provided,
however, that the Trustee need not (but may, in its sole and absolute discretion) execute or deliver any such amendment or supplemental indenture that adversely affects the Trustee’s rights, duties, liabilities or immunities. In
executing any amendment or supplemental indenture, the Trustee will be entitled to receive, and (subject to Sections 10.01 and 10.02) will be fully protected in relying on, an Officer’s Certificate and an Opinion of Counsel
stating that (A) the execution and delivery of such amendment or supplemental indenture is authorized or permitted by this Indenture; and (B) in the case of the Opinion of Counsel, such amendment or supplemental indenture is valid, binding
and enforceable against the Company in accordance with its terms. 
 Article 9. SATISFACTION AND DISCHARGE 

Section 9.01. TERMINATION OF COMPANY’S OBLIGATIONS. 

This Indenture will be discharged, and will cease to be of further effect as to all Notes issued under this Indenture, when: 

(A) all Notes then outstanding (other than Notes replaced pursuant to Section 2.13) have (i) been delivered to
the Trustee for cancellation; or (ii) become due and payable (whether on a Redemption Date, Fundamental Change Repurchase Date, the Maturity Date, upon conversion or otherwise) for an amount of cash or Conversion Consideration (including, if
applicable, all related Additional Amounts), as applicable, that has been fixed; 

  
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 (B) the Company has caused there to be irrevocably deposited with the Trustee, or with the
Paying Agent (or, with respect to Conversion Consideration, the Conversion Agent (or if the Conversion Agent is unable or unwilling to hold such deposit of Conversion Consideration, the Holders), in each case for the benefit of the Holders, or has
otherwise caused there to be delivered to the Holders, cash (or, with respect to Notes to be converted, Conversion Consideration) (including, if applicable, all related Additional Amounts) sufficient to satisfy all amounts or other property due on
all Notes then outstanding (other than Notes replaced pursuant to Section 2.13); 
 (C) the Company has paid all
other amounts payable by it under this Indenture; and 
 (D) the Company has delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that the conditions precedent to the discharge of this Indenture have been satisfied; 
 provided, however,
that Article 10 and Section 11.01 will survive such discharge and, until no Notes remain outstanding, Section 2.15 and the obligations of the Trustee, the Paying Agent and the Conversion
Agent with respect to money or other property deposited with them will survive such discharge. 
 At the Company’s request, the Trustee
will acknowledge the satisfaction and discharge of this Indenture. 
 Section 9.02. REPAYMENT TO
COMPANY. 
 Subject to applicable unclaimed property law, the Trustee, the Paying Agent and the Conversion Agent will
promptly notify the Company if there exists (and, at the Company’s request, promptly deliver to the Company) any cash, Conversion Consideration or other property held by any of them for payment or delivery on the Notes that remain unclaimed two
(2) years after the date on which such payment or delivery was due. After such delivery to the Company, the Trustee, the Paying Agent and the Conversion Agent will have no further liability to any Holder with respect to such cash, Conversion
Consideration or other property, and Holders entitled to the payment or delivery of such cash, Conversion Consideration or other property must look to the Company for payment as a general creditor of the Company. 

Section 9.03. REINSTATEMENT. 

If the Trustee, the Paying Agent or the Conversion Agent is unable to apply any cash or other property deposited with it pursuant to
Section 9.01 because of any legal proceeding or any order or judgment of any court or other governmental authority that enjoins, restrains or otherwise prohibits such application, then the discharge of this Indenture
pursuant to Section 9.01 will be rescinded; provided, however, that if the Company thereafter pays or delivers any cash or other property due on the Notes to the Holders thereof, then the Company will be
subrogated to the rights of such Holders to receive such cash or other property from the cash or other property, if any, held by the Trustee, the Paying Agent or the Conversion Agent, as applicable. 

  
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 Article 10. TRUSTEE 

Section 10.01. DUTIES OF THE TRUSTEE. 

(A) If an Event of Default has occurred and is continuing of which a Responsible Officer of the Trustee has written notice or actual knowledge,
the Trustee will 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; provided that the Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the Holders unless such Holders have offered, and if requested, provided, to
the Trustee indemnity or security satisfactory to Trustee against any loss, liability or expense that might be incurred by it in compliance with such request or direction. 

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

(i) the duties of the Trustee will be determined solely by the express provisions of this Indenture, and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations will be read into this Indenture against the Trustee; and 

(ii) in the absence of bad faith or willful misconduct on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any certificates or opinions that are provided to the Trustee and conform to the requirements of this Indenture. However, the Trustee will 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 gross negligence, bad faith or willful misconduct, except that: 

(i) this paragraph will not limit the effect of Section 10.01(B); 

(ii) the Trustee will 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; 
 (iii) the Trustee will 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 7.06; and 

(iv) no provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability in the
performance of any of its duties under this Indenture, or in the exercise of any of its rights or powers, if it has reasonable grounds to believe that repayment of such funds or adequate indemnity against such liability is not reasonably assured to
it. 

  
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 (D) The Trustee will 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. 

(E) Whether or not therein provided, unless explicitly provided to the contrary, every provision of this Indenture relating to the conduct or
affecting the liability of, or affording protection to, the Trustee shall be subject to the provisions of this Section 10.01. 
 (F)
The Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters relating to payment) or notice, in each case that is effected by the Company or any Paying Agent (except in its
capacity as Paying Agent pursuant to the terms of this Indenture) or any records maintained by any co-Note Registrar with respect to the Notes. 

(G) If any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent to
the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless a Responsible Officer of the Trustee had actual knowledge of such event. 

(H) Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Notes. 

Section 10.02. RIGHTS OF THE TRUSTEE. 

(A) The Trustee may conclusively rely on any document that it believes to be genuine and signed or presented by the proper Person, and the
Trustee need not investigate any fact or matter stated in such document. 
 (B) Before the Trustee acts or refrains from acting, it may
require, and may conclusively rely on, an Officer’s Certificate, an Opinion of Counsel or both. The Trustee will 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; and the advice of such counsel, or any Opinion of Counsel, will constitute full and complete authorization of the Trustee to take or omit to take any action in good faith in reliance thereon without
liability. 
 (C) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any
such agent appointed with due care. 
 (D) The Trustee will not be liable for any action it takes or omits to take in good faith and that it
believes to be authorized or within the rights or powers vested in it by this Indenture. 
 (E) Unless otherwise specifically provided in
this Indenture, any demand, request, direction or notice from the Company will be sufficient if signed by an Officer. 
 (F) The Trustee
need not exercise any rights or powers vested in it by this Indenture at the request or direction of any Holder unless such Holder has offered, and if requested, provided, the Trustee security or indemnity satisfactory to the Trustee against any
loss, liability or expense that it may incur in complying with such request or direction. 

  
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 (G) The Trustee will not be responsible or liable for any punitive, special, indirect or
consequential loss or damage (including lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(H) The Trustee will 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 or 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 the Trustee will incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(I) The Trustee will not be deemed to have notice of any Default or Event of Default unless written notice of any event that is a Default or
Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture; 

(J) The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended to,
and will be enforceable by, the Trustee in each of its capacities under this Indenture. 
 (K) The Trustee may request that the Company
deliver a certificate setting forth the names of individuals or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 

(L) The permissive rights of the Trustee enumerated herein shall not be construed as duties. 

(M) The Trustee shall not be required to give any bond or surety in respect of the execution of the trusts and powers under this Indenture.

 (N) Neither the Trustee nor any Agent shall have any responsibility or liability for any actions taken or not taken by the Depositary
unless such actions taken or not taken were the result of the Trustee’s gross negligence, bad faith or willful misconduct. 
 Section 10.03.
INDIVIDUAL RIGHTS OF THE TRUSTEE. 
 The Trustee, in its
individual or any other capacity, may become the owner or pledgee of any Note and may otherwise deal with the Company or any of its Affiliates with the same rights that it would have if it were not Trustee; provided, however, that if
the Trustee acquires a “conflicting interest” (within the meaning of Section 310(b) of the Trust Indenture Act), then it must eliminate such conflict within ninety (90) days or resign as Trustee. Each Note Agent will have that
same rights and duties as the Trustee under this Section 10.03. 

  
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 Section 10.04. TRUSTEE’S DISCLAIMER. 

The Trustee will not be (A) responsible for, and makes no representation as to, the validity or adequacy of this Indenture or the Notes;
(B) accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture; (C) responsible for the use or application of any money
received by any Paying Agent other than the Trustee; and (D) responsible for any statement or recital in this Indenture, the Notes or any other document relating to the sale of the Notes or this Indenture, other than the Trustee’s
certificate of authentication. 
 Section 10.05. NOTICE OF DEFAULTS. 

If a Default or Event of Default occurs and is continuing of which a Responsible Officer of the Trustee has received written notice, then the
Trustee will send Holders a notice of such Default or Event of Default within ninety (90) days after receipt of such notice; provided, however, that, except in the case of a Default or Event of Default in the payment of the
principal of, or interest on, any Note, or a Default in the payment or delivery of the Conversion Consideration due upon conversion of any Note, the Trustee may withhold such notice if and for so long as it in good faith determines that withholding
such notice is in the interests of the Holders. 
 Section 10.06. COMPENSATION AND INDEMNITY. 

(A) The Company will, from time to time, pay the Trustee reasonable compensation for its acceptance of this Indenture and services under this
Indenture. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. In addition to the compensation for the Trustee’s services, the Company will reimburse the Trustee promptly upon request
for all reasonable disbursements, advances and expenses incurred or made by it under this Indenture, including the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

(B) The Company will indemnify the Trustee and the Note Agents against any and all losses, liabilities or expenses incurred by them 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 10.06) and defending
itself against any claim (whether asserted by the Company, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties under this Indenture, except to the extent any such loss, liability
or expense may be attributable to its gross negligence or willful misconduct, as determined by a final, nonappealable order of a court of competent jurisdiction. The Trustee will promptly notify the Company of any claim for which it may seek
indemnity, but the Trustee’s failure to so notify the Company will not relieve the Company of its obligations under this Section 10.06(B), except to the extent the Company is materially prejudiced by such failure. The
Company will defend such claim, and the Trustee will cooperate in such defense. If the Trustee is advised by counsel that it may have defenses available to it that are in conflict with the defenses available to the Company, or that there is an
actual or potential conflict of interest, then the Trustee may retain separate counsel, and the Company will pay the reasonable fees and expenses of such counsel (including the reasonable fees and expenses of counsel to the Trustee incurred in
evaluating whether such a conflict exists). The Company need not pay for any settlement of any such claim made without its consent, which consent will not be unreasonably withheld. 

(C) The obligations of the Company under this Section 10.06 will survive the resignation or removal of the Trustee
and the discharge of this Indenture. 

  
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 (D) To secure the Company’s payment obligations in this
Section 10.06, the Trustee will have a lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal of, or interest on, particular Notes, which lien will
survive the discharge of this Indenture. 
 (E) If the Trustee incurs expenses or renders services after an Event of Default pursuant to
clause (ix) or (x) of Section 7.01(A) occurs, then such expenses and the compensation for such services (including the fees and expenses of its agents and counsel) are intended to constitute
expenses of administration under any Bankruptcy Law. 
 Section 10.07. REPLACEMENT OF THE
TRUSTEE. 
 (A) Notwithstanding anything to the contrary in this Section 10.07, a resignation or
removal of the Trustee, and the appointment of a successor Trustee, will become effective only upon such successor Trustee’s acceptance of appointment as provided in this Section 10.07. 

(B) The Trustee may resign at any time and be discharged from the trust created by this Indenture by so notifying the Company. The Holders of
a majority in aggregate principal amount of the Notes then outstanding may remove the Trustee by so notifying the Trustee and the Company in writing with thirty (30) days prior notice. The Company may remove the Trustee if: 

(i) the Trustee fails to comply with Section 10.09; 

(ii) the Trustee is adjudged to be bankrupt or insolvent or an order for relief is entered with respect to the Trustee under
any Bankruptcy Law; 
 (iii) a custodian or public officer takes charge of the Trustee or its property; or 

(iv) the Trustee becomes incapable of acting. 

(C) If the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, then (i) the Company will
promptly appoint a successor Trustee; and (ii) at any time within one (1) year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the Notes then outstanding may appoint a successor Trustee
to replace such successor Trustee appointed by the Company. 
 (D) If a successor Trustee does not take office within thirty (30) days
after the retiring Trustee resigns or is removed, then the retiring Trustee, the Company or the Holders of at least ten percent (10%) in aggregate principal amount of the Notes then outstanding may petition any court of competent jurisdiction for
the appointment of a successor Trustee. 
 (E) If the Trustee, after written request by a Holder of at least six (6) months, fails to
comply with Section 10.09, then such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

  
 - 83 - 

 (F) A successor Trustee will deliver a written acceptance of its appointment to the retiring
Trustee and to the Company, upon which notice the resignation or removal of the retiring Trustee will become effective and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee
will send notice of its succession to Holders. The retiring Trustee will, upon payment of all amounts due to it under this Indenture, promptly transfer all property held by it as Trustee to the successor Trustee, which property will, for the
avoidance of doubt, be subject to the lien provided for in Section 10.06(D). 
 Section 10.08. 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, then such corporation will become the successor Trustee without any further act. 

Section 10.09. ELIGIBILITY; DISQUALIFICATION. 

There will at all times be a Trustee under this Indenture that is a corporation organized and doing business under the laws of the United
States of America or of any state thereof, that is authorized under such laws to exercise corporate 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
$100.0 million as set forth in its most recent published annual report of condition. 
 Article 11. MISCELLANEOUS 

Section 11.01. NOTICES. 

Any notice or communication by the Company or the Trustee to the other will be deemed to have been duly given if in writing and delivered in
person or by first class mail (registered or certified, return receipt requested), facsimile transmission, electronic transmission or other similar means of unsecured electronic communication or overnight air courier guaranteeing next day delivery,
or to the other’s address, which initially is as follows: 
 If to the Company: 

SMART Global Holdings, Inc. 
 c/o
SMART Modular Technologies, Inc. 
 39870 Eureka Drive 

Newark, CA 94560-4809 
 Attention:
General Counsel 
 with a copy (which will not constitute notice) to: 

Davis Polk & Wardwell LLP 

1600 El Camino Real 
 Menlo Park,
California 94025 
 Attention: Alan F. Denenberg 

E-mail: alan.denenberg@davispolk.com 

  
 - 84 - 

 If to the Trustee: 

U.S. Bank National Association 

633 West Fifth Street, 24th Floor 

Los Angeles, California 90071 

Attention: Bradley E. Scarbrough (SMART Global Holdings, Inc.) 

The Company or the Trustee, by notice to the other, may designate additional or different addresses (including facsimile numbers and
electronic addresses) for subsequent notices or communications. 
 All notices and communications (other than those sent to Holders) will be
deemed to have been duly given: (A) at the time delivered by hand, if personally delivered; (B) five (5) Business Days after being deposited in the mail, postage prepaid, if mailed; (C) when receipt acknowledged, if transmitted by
facsimile, electronic transmission or other similar means of unsecured electronic communication; and (D) the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 

All notices or communications required to be made to a Holder pursuant to this Indenture must be made in writing and will be deemed to be duly
sent or given in writing if 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; provided, however, that a
notice or communication to a Holder of a Global Note may, but need not, instead be sent pursuant to the Depositary Procedures (in which case, such notice will be deemed to be duly sent or given in writing). The failure to send a notice or
communication to a Holder, or any defect in such notice or communication, will not affect its sufficiency with respect to any other Holder. 

The Trustee may accept and act on instructions or directions pursuant to this Indenture sent by unsecured
e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided that the Trustee has received an incumbency certificate listing persons designated to give such instructions
or directions and containing specimen signatures of such designated persons, which incumbency certificate the Trustee will be entitled to rely as conclusive and
up-to-date until such time as it receives an amended certificate containing any additions thereto or deletions therefrom. If the Company elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s reasonable understanding of such
instructions will be deemed controlling. The Trustee will not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding that such
instructions may conflict or be inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including the risk of
the Trustee acting on unauthorized instructions and the risk of interception and misuse by third parties. 
 Notwithstanding any other
provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any event or any other communication (including any notice of Redemption or repurchase) to a holder of a Global Note (whether by mail or otherwise),
such notice will be sufficiently given if given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with accepted practices at the Depositary. 

  
 - 85 - 

 If a notice or communication is mailed or sent in the manner provided above within the time
prescribed, it will be deemed to have been duly given, whether or not the addressee receives it. 
 Notwithstanding anything to the contrary
in this Indenture or the Notes, whenever any provision of this Indenture requires a party to send notice to another party, no such notice need be sent if the sending party and the recipient are the same Person acting in different capacities. 

Section 11.02. DELIVERY OF OFFICER’S CERTIFICATE AND
OPINION OF COUNSEL AS TO CONDITIONS PRECEDENT. 

Unless otherwise provided herein, upon any request or application by the Company to the Trustee to take any action under this Indenture, the
Company will furnish to the Trustee: 
 (A) an Officer’s Certificate in form reasonably satisfactory to the Trustee that complies with
Section 11.03 and states that, in the opinion of the signatory thereto, all conditions precedent and covenants, if any, provided for in this Indenture relating to such action have been satisfied; and 

(B) an Opinion of Counsel in form reasonably satisfactory to the Trustee that complies with Section 11.03 and states
that, in the opinion of such counsel, all such conditions precedent and covenants, if any, have been satisfied (other than, without limitation, the initial authentication of Notes under this Indenture on the Issue Date or as provided in
Section 2.12). 
 Section 11.03. STATEMENTS REQUIRED IN
OFFICER’S CERTIFICATE AND OPINION OF COUNSEL. 

Each Officer’s Certificate (other than an Officer’s Certificate pursuant to Section 3.06) or Opinion of
Counsel with respect to compliance with a covenant or condition provided for in this Indenture will include: 
 (A) a statement that the
signatory thereto 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 therein are based; 
 (C) a statement that, in the opinion of such signatory,
he, she or it has made such examination or investigation as is necessary to enable him, her or it to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(D) a statement as to whether, in the opinion of such signatory, such covenant or condition has been satisfied. 

Section 11.04. RULES BY THE TRUSTEE, THE REGISTRAR
AND THE PAYING AGENT. 
 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. 

  
 - 86 - 

 Section 11.05. NO PERSONAL LIABILITY OF
DIRECTORS, OFFICERS, EMPLOYEES AND SHAREHOLDERS. 
 No past,
present or future director, officer, employee, incorporator or shareholder of the Company, as such, will have any liability for any obligations of the Company under this Indenture or the Notes or for any claim based on, in respect of, or by reason
of, such obligations or their creation. By accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes. 

Section 11.06. GOVERNING LAW; WAIVER OF JURY TRIAL. 

THIS INDENTURE AND THE NOTES, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS INDENTURE OR THE NOTES, WILL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE TRUSTEE IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT
OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED BY THIS INDENTURE OR THE NOTES. 
 Section 11.07.
SUBMISSION TO JURISDICTION. 
 Any legal suit, action or proceeding arising out of or based
upon this Indenture or the transactions contemplated by this Indenture may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York, in each case located in the City
of New York (collectively, the “Specified Courts”), and each party irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any
process, summons, notice or document by mail (to the extent allowed under any applicable statute or rule of court) to such party’s address set forth in Section 11.01 will be effective service of process for any such
suit, action or proceeding brought in any such court. Each of the Company, the Trustee and each Holder (by its acceptance of any Note) irrevocably and unconditionally waives any objection to the laying of venue of any suit, action or other
proceeding in the Specified Courts and irrevocably and unconditionally waives and agrees not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum. 

Section 11.08. NO ADVERSE INTERPRETATION OF OTHER
AGREEMENTS. 
 Neither this Indenture nor the Notes may be used to interpret any other indenture, note, loan or debt
agreement of the Company or its Subsidiaries or of any other Person, and no such indenture, note, loan or debt agreement may be used to interpret this Indenture or the Notes. 

Section 11.09. SUCCESSORS. 

All agreements of the Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will
bind its successors. 

  
 - 87 - 

 Section 11.10. FORCE MAJEURE. 

In no event will the Trustee be responsible or liable for any failure or delay in the performance of its obligations under this Indenture
arising out of or caused by, directly or indirectly, forces beyond its control, including strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, it being understood that the Trustee will use reasonable efforts that are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances. 
 Section 11.11. U.S.A. PATRIOT ACT. 

The Company acknowledges that, in accordance with Section 326 of the U.S.A. PATRIOT Act, the Trustee, like all financial institutions, in
order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The Company
agrees to provide the Trustee with such information as it may request to enable the Trustee to comply with the U.S.A. PATRIOT Act. 
 Section 11.12.
CALCULATIONS. 
 Except as otherwise provided in this Indenture, the Company will be responsible for making all
calculations called for under this Indenture or the Notes, including determinations of the Last Reported Sale Price, the Daily Conversion Value, the Daily Cash Amount, the Daily Share Amount, the Redemption Price, any Additional Amounts, accrued
interest on the Notes and the Conversion Rate (including any adjustments to the Conversion Rate). 
 The Company will make all calculations
in good faith, and, absent manifest error, its calculations will be final and binding on all Holders. The Company will provide a schedule of its calculations to any Holder upon its written request therefor, at the cost and expense of the Company.

 For the avoidance of doubt, neither the Trustee nor the Conversion Agent will have any responsibility to make any calculations under this
Indenture, nor will the Trustee or the Conversion Agent be charged with knowledge of or have any duties to monitor the Share Price or any Observation Period. The Trustee and the Conversion Agent may rely conclusively on the calculations and
information provided to them by the Company as to the Daily VWAP, the Daily Conversion Values, the Trading Price, the Last Reported Sale Price and the Redemption Price. 

Section 11.13. SEVERABILITY. 

If any provision of this Indenture or the Notes is invalid, illegal or unenforceable, then the validity, legality and enforceability of the
remaining provisions of this Indenture or the Notes will not in any way be affected or impaired thereby. 

  
 - 88 - 

 Section 11.14. COUNTERPARTS. 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, and all of them together represent the same
agreement. Delivery of an executed counterpart of this Indenture by facsimile, electronically in portable document format or in any other format will be effective as delivery of a manually executed counterpart. 

Section 11.15. TABLE OF CONTENTS, HEADINGS, ETC. 

The table of contents and the 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 will in no way modify or restrict any of the terms or provisions of this Indenture. 

Section 11.16. [RESERVED]. 

Section 11.17. FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA). 

In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and interpretations promulgated by
competent authorities) in effect from time to time (“Applicable Tax Law”) that a foreign financial institution, issuer, trustee, paying agent, holder or other institution is or has agreed to be subject to related to the Indenture,
the Company agrees (A) to provide to the Trustee upon reasonable written request by the Trustee sufficient information about Holders or other applicable parties and/or transactions (including any modification to the terms of such transactions)
so the Trustee can determine whether it has tax related obligations under Applicable Tax Law; and (B) that the Trustee will be entitled to make any withholding or deduction from payments under the Indenture to the extent necessary to comply
with Applicable Tax Law for which U.S. Bank National Association will not have any liability, absent gross negligence or willful misconduct on the part of the Trustee. The obligations imposed on the Company under this paragraph are limited to the
extent that (x) the Company has the relevant information in its possession or control, or is reasonably obtainable by the Company; and (y) the provision of such information to the Trustee will not result in any breach of this Indenture or
the Notes or violate any applicable law. The terms of this section will survive the termination of this Indenture. 

[The Remainder of This Page Intentionally Left Blank; Signature Page Follows] 

  
 - 89 - 

 IN WITNESS WHEREOF, the parties to this Indenture have caused this Indenture to be
duly executed as of the date first written above. 
  

			
	SMART GLOBAL HOLDINGS, INC.
		
	By:	 	/s/ Ajay Shah
		 	 Name: Ajay Shah
 Title: Chairman of the
Board, President & CEO

  

			
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By:	 	/s/ Bradley E. Scarbrough
		 	 Name: Bradley E. Scarbrough
 Title: Vice
President

 [Signature Page to Indenture] 

 EXHIBIT A 

FORM OF NOTE 
 [Insert
Global Note Legend, if applicable] 
 [Insert Restricted Note Legend, if applicable] 

[Insert Non-Affiliate Legend] 

SMART Global Holdings, Inc. 

2.25% Convertible Senior Note due 2026 
  

			
	CUSIP No.:    [___][Insert for a “restricted” CUSIP number: *]	  	Certificate No.[___]
	ISIN No.:        [___][Insert for a “restricted” ISIN number: *]	  	

 SMART Global Holdings, Inc., a Cayman Islands exempted company, for value received, promises to pay to
[Cede & Co.], or its registered assigns, the principal sum of [___] dollars ($[___]) [(as revised by the attached Schedule of Exchanges of Interests in the Global Note)]† on February 15, 2026 and to pay interest thereon, as provided in the Indenture referred to below, until the principal and all accrued and unpaid interest are paid or duly
provided for. 
  

			
	Interest Payment Dates:        	  	February 15 and August 15 of each year, commencing on [date].
	Regular Record Dates:	  	February 1 and August 1.

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

[The Remainder of This Page Intentionally Left Blank; Signature Page Follows] 

 

	* 	 This Note will be deemed to be identified by CUSIP No. [___] and ISIN No. [___] from and after such time when
the Company delivers, pursuant to Section 2.12 of the within-mentioned Indenture and subject to the applicable procedures of the Depositary, written notice to the Trustee of the deemed removal of the Restricted Note Legend affixed to this Note.

	† 	 Insert bracketed language for Global Notes only. 

  
 A-1 

 IN WITNESS WHEREOF, SMART Global Holdings, Inc. has caused this instrument to be duly
executed as of the date set forth below. 
  

							
		 		 	SMART GLOBAL HOLDINGS, INC.
				
	Date:
                                         
               	 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

  
 A-2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

U.S. Bank National Association, as Trustee, certifies that this is one of the Notes referred to in the within-mentioned Indenture. 

 

							
	Date:
                                         
               	 		 	By:	 	 
		 		 		 	 Authorized Signatory

		 		 		 	

  
 A-3 

 SMART Global Holdings, Inc. 

2.25% Convertible Senior Note due 2026 

This Note is one of a duly authorized issue of notes of SMART Global Holdings, Inc., a Cayman Islands exempted company (the
“Company”), designated as its 2.25% Convertible Senior Notes due 2026 (the “Notes”), all issued or to be issued pursuant to an indenture, dated as of February 11, 2020 (as the same may be amended from time to
time, the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”). Capitalized terms used in this Note without definition have the respective meanings ascribed to them in the
Indenture. 
 The Indenture sets forth the rights and obligations of the Company, the Trustee and the Holders and the terms of the Notes.
Notwithstanding anything to the contrary in this Note, to the extent that any provision of this Note conflicts with the provisions of the Indenture, the provisions of the Indenture will control. 

1. Interest. This Note will accrue interest at a rate and in the manner set forth in Section 2.05 of the Indenture. Stated
Interest on this Note will begin to accrue from, and including, [date]. 
 2. Maturity. This Note will mature on
February 15, 2026, unless earlier redeemed, repurchased or converted. 
 3. Method of Payment. Cash amounts due on this Note
will be paid in the manner set forth in Section 2.04 of the Indenture. 
 4. Persons Deemed Owners. The Holder of this Note will
be treated as the owner of this Note for all purposes. 
 5. Denominations; Transfers and Exchanges. All Notes will be in registered
form, without coupons, in principal amounts equal to any Authorized Denominations. Subject to the terms of the Indenture, the Holder of this Note may transfer or exchange this Note by presenting it to the Registrar and delivering any required
documentation or other materials. 
 6. Right of Holders to Require the Company to Repurchase Notes upon a Fundamental Change. If a
Fundamental Change occurs, then each Holder will have the right to require the Company to repurchase such Holder’s Notes (or any portion thereof in an Authorized Denomination) for cash in the manner, and subject to the terms, set forth in
Section 4.02 of the Indenture. 
 7. Right of the Company to Redeem the Notes. The Company will have the right to redeem the
Notes for cash in the manner, and subject to the terms, set forth in Section 4.03 of the Indenture. 
 8. Conversion. The Holder
of this Note may convert this Note into Conversion Consideration in the manner, and subject to the terms, set forth in Article 5 of the Indenture. 

  
 A-4 

 9. When the Company May Merge, Etc. Article 6 of the Indenture places limited
restrictions on the Company’s ability to be a party to a Business Combination Event. 
 10. Defaults and Remedies. If an Event
of Default occurs, then the principal amount of, and all accrued and unpaid interest on, all of the Notes then outstanding may (and, in certain circumstances, will automatically) become due and payable in the manner, and subject to the terms, set
forth in Article 7 of the Indenture. 
 11. Amendments, Supplements and Waivers. The Company and the Trustee may amend or supplement
the Indenture or the Notes or waive compliance with any provision of the Indenture or the Notes in the manner, and subject to the terms, set forth in Article 8 of the Indenture. 

12. No Personal Liability of Directors, Officers, Employees and Shareholders. No past, present or future director, officer, employee,
incorporator or shareholder of the Company, as such, will have any liability for any obligations of the Company under the Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By
accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes. 

13. Authentication. No Note will be valid until it is authenticated by the Trustee. A Note will be deemed to be duly authenticated only
when an authorized signatory of the Trustee (or a duly appointed authenticating agent) manually signs the certificate of authentication of such Note. 

14. Abbreviations. Customary abbreviations may be used in the name of a Holder or its 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 Gift to Minors Act). 

15. Governing Law. THIS NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS NOTE, WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 * * * 

To request a copy of the Indenture, which the Company will provide to any Holder at no charge, please send a written request to the following
address: 
 SMART Global Holdings, Inc. 

c/o SMART Modular Technologies, Inc. 

39870 Eureka Drive 
 Newark, CA
94560-4809 
 Attention: General Counsel 

  
 A-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 
 INITIAL PRINCIPAL AMOUNT OF THIS GLOBAL NOTE: $[___] 

The following exchanges, transfers or cancellations of this Global Note have been made: 

 

							
	 Date
	 	 Amount of Increase
(Decrease) in
Principal Amount
of
this Global Note
	 	 Principal Amount of
this Global Note
After Such
Increase
(Decrease)
	  	 Signature of
Authorized
Signatory of
Trustee

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

				
		 		 		  	
	  
	 	  
	 	  
	  	  

  
  

	* 	 Insert for Global Notes only. 

  
 A-6 

 CONVERSION NOTICE 

SMART Global Holdings, Inc. 

2.25% Convertible Senior Notes due 2026 
 Subject
to the terms of the Indenture, by executing and delivering this Conversion Notice, the undersigned Holder of the Note identified below directs the Company to convert (check one): 

 

	☐	 the entire principal amount of 

 

	☐	
$                    * aggregate principal amount of 

 the Note identified by CUSIP No.
                     and Certificate No.
                    . 
 The
undersigned acknowledges that if the Conversion Date of a Note to be converted is after a Regular Record Date and before the next Interest Payment Date, then such Note, when surrendered for conversion, must, in certain circumstances, be accompanied
with an amount of cash equal to the interest that would have accrued on such Note to, but excluding, such Interest Payment Date. 
  

							
	Date:
                                         
               	 		 	 
		 		 		 	(Legal Name of Holder)
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:
			
		 		 	Signature Guaranteed:
			
		 		 	 
		 		 		 	Participant in a Recognized Signature
		 		 		 	Guarantee Medallion Program
				
		 		 	By:	 	 
		 		 		 	Authorized Signatory

   

 

	* 	 Must be an Authorized Denomination. 

  
 A-7 

 FUNDAMENTAL CHANGE REPURCHASE NOTICE 

SMART Global Holdings, Inc. 

2.25% Convertible Senior Notes due 2026 
 Subject
to the terms of the Indenture, by executing and delivering this Fundamental Change Repurchase Notice, the undersigned Holder of the Note identified below is exercising its Fundamental Change Repurchase Right with respect to (check one): 

 

	☐	 the entire principal amount of 

 

	☐	
$                    * aggregate principal amount of 

 the Note identified by CUSIP No.
                     and Certificate No.
                    . 
 The
undersigned acknowledges that this Note, duly endorsed for transfer, must be delivered to the Paying Agent before the Fundamental Change Repurchase Price will be paid. 
  

							
			
	Date:
                                         
               	 		 	 
		 		 		 	(Legal Name of Holder)
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:
			
		 		 	Signature Guaranteed:
			
		 		 	 
		 		 		 	Participant in a Recognized Signature
		 		 		 	Guarantee Medallion Program
				
		 		 	By:	 	 
		 		 		 	Authorized Signatory

  

	* 	 Must be an Authorized Denomination. 

  
 A-8 

 ASSIGNMENT FORM 

SMART Global Holdings, Inc. 

2.25% Convertible Senior Notes due 2026 
 Subject
to the terms of the Indenture, the undersigned Holder of the within Note assigns to: 
  

					
			
	Name:	 	 	 	
			
	Address:	 	 	 	
			
	Social security or tax identification number:	 	 	 	

 the within Note and all rights thereunder irrevocably appoints: 

as agent to transfer the within Note on the books of the Company. The agent may substitute another to act for him/her. 

 

							
	Date:
                                         
               	 		 	 
		 		 		 	(Legal Name of Holder)
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:
			
		 		 	Signature Guaranteed:
			
		 		 	 
		 		 		 	Participant in a Recognized Signature
		 		 		 	Guarantee Medallion Program
				
		 		 	By:	 	 
		 		 		 	Authorized Signatory

  
 A-9 

 TRANSFEROR ACKNOWLEDGEMENT 

If the within Note bears a Restricted Note Legend, the undersigned further certifies that (check one): 

 

			
	1.	 	 ☐   Such transfer is being made to the Company or a Subsidiary of the
Company.

		
	2.	 	 ☐   Such transfer is being made pursuant to, and in accordance with, a
registration statement that is effective under the Securities Act at the time of the transfer.

		
	3.	 	 ☐   Such transfer is being made pursuant to, and in accordance with, Rule
144A under the Securities Act, and, accordingly, the undersigned further certifies that the within Note is being transferred to a Person that the undersigned reasonably believes is purchasing the within Note for its own account, or for one or more
accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act in a transaction meeting
the requirements of Rule 144A.

		
	4.	 	 ☐   Such transfer is being made pursuant to, and in accordance with, any
other available exemption from the registration requirements of the Securities Act (including, if available, the exemption provided by Rule 144 under the Securities Act).

  

			
	Dated:	 	 
	
	 
	(Legal Name of Holder)

  

			
	By:	 	 
		 	Name:
		 	Title:

  

	
	Signature Guaranteed:
	
	   

	 (Participant in a Recognized Signature

Guarantee Medallion Program)

  

			
	By:	 	 
		 	Authorized Signatory

  
 A-10 

 EXHIBIT B-1 

FORM OF RESTRICTED NOTE LEGEND 
 THE OFFER
AND SALE OF THIS NOTE AND THE ORDINARY SHARES, IF ANY, ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER: 
  

	(1)	 REPRESENTS THAT IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER”
(WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT; AND 

  

	(2)	 AGREES FOR THE BENEFIT OF THE COMPANY THAT IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY
BENEFICIAL INTEREST HEREIN, EXCEPT ONLY: 

  

	 	(A)	 TO THE COMPANY OR ANY SUBSIDIARY THEREOF; 

 

	 	(B)	 PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT; 

 

	 	(C)	 TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT;

  

	 	(D)	 PURSUANT TO RULE 144 UNDER THE SECURITIES ACT; OR 

 

	 	(E)	 PURSUANT TO ANY OTHER EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT. 

 BEFORE THE REGISTRATION OF ANY SALE OR TRANSFER IN ACCORDANCE WITH (2)(D) OR (E) ABOVE, THE COMPANY, THE TRUSTEE
AND THE REGISTRAR RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH CERTIFICATES OR OTHER DOCUMENTATION OR EVIDENCE AS THEY MAY REASONABLY REQUIRE IN ORDER FOR THE COMPANY TO DETERMINE THAT THE PROPOSED SALE OR TRANSFER IS BEING MADE IN COMPLIANCE
WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.* 
  

	* 	 This paragraph and the immediately preceding paragraph will be deemed to be removed from the face of this Note
at such time when the Company delivers written notice to the Trustee of such deemed removal pursuant to Section 2.12 of the within-mentioned Indenture. 

  
 B1-1 

 EXHIBIT B-2 

FORM OF GLOBAL NOTE LEGEND 
 THIS IS A
GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS THE OWNER AND HOLDER OF
THIS NOTE FOR ALL PURPOSES. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC, OR
TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE WILL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN ARTICLE 2 OF THE INDENTURE HEREINAFTER REFERRED TO. 

  
 B2-1 

 EXHIBIT B-3 

FORM OF NON-AFFILIATE LEGEND 

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED) OF THE COMPANY, OR ANY PERSON OR ENTITY THAT WAS AN AFFILIATE (AS DEFINED
UNDER RULE 144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED) OF THE COMPANY WITHIN THE THREE MONTHS IMMEDIATELY PRECEDING, MAY PURCHASE OR OTHERWISE ACQUIRE THIS NOTE OR ANY BENEFICIAL INTEREST HEREIN. 

  
 B3-1

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