Document:

EX-4.11

 EXHIBIT 4.11 

ALBERTSON’S HOLDINGS LLC and 

SATURN ACQUISITION MERGER SUB, INC., 

as Issuers 
 and the Guarantors
party hereto from time to time 
 7.750% Senior Secured Notes due 2022 

 
  

INDENTURE 
 Dated as of
October 23, 2014 
  
  

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Trustee and Notes Collateral Agent 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	
	ARTICLE 1	  
	
	DEFINITIONS AND INCORPORATION BY REFERENCE	  
			
	 SECTION 1.01.
	 	 Definitions
	  	 	1	  
	 SECTION 1.02.
	 	 Other Definitions
	  	 	37	  
	 SECTION 1.03.
	 	 [Reserved]
	  	 	38	  
	 SECTION 1.04.
	 	 Rules of Construction
	  	 	38	  
	
	ARTICLE 2	  
	
	THE SECURITIES	  
			
	 SECTION 2.01.
	 	 Amount of Securities; Issuable in Series
	  	 	39	  
	 SECTION 2.02.
	 	 Form and Dating
	  	 	40	  
	 SECTION 2.03.
	 	 Execution and Authentication
	  	 	40	  
	 SECTION 2.04.
	 	 Registrar and Paying Agent
	  	 	41	  
	 SECTION 2.05.
	 	 Paying Agent to Hold Money in Trust
	  	 	41	  
	 SECTION 2.06.
	 	 Holder Lists
	  	 	41	  
	 SECTION 2.07.
	 	 Transfer and Exchange
	  	 	42	  
	 SECTION 2.08.
	 	 Replacement Securities
	  	 	42	  
	 SECTION 2.09.
	 	 Outstanding Securities
	  	 	43	  
	 SECTION 2.10.
	 	 Temporary Securities
	  	 	43	  
	 SECTION 2.11.
	 	 Cancellation
	  	 	43	  
	 SECTION 2.12.
	 	 Defaulted Interest
	  	 	43	  
	 SECTION 2.13.
	 	 CUSIP Numbers, ISINs, etc.
	  	 	44	  
	 SECTION 2.14.
	 	 Calculation of Specified Percentage of Securities
	  	 	44	  
	
	ARTICLE 3	  
	
	REDEMPTION	  
			
	 SECTION 3.01.
	 	 Redemption
	  	 	44	  
	 SECTION 3.02.
	 	 Applicability of Article
	  	 	44	  
	 SECTION 3.03.
	 	 Notices to Trustee
	  	 	44	  
	 SECTION 3.04.
	 	 Selection of Securities to Be Redeemed
	  	 	45	  
	 SECTION 3.05.
	 	 Notice of Optional Redemption
	  	 	45	  
	 SECTION 3.06.
	 	 Effect of Notice of Redemption
	  	 	46	  
	 SECTION 3.07.
	 	 Deposit of Redemption Price
	  	 	46	  
	 SECTION 3.08.
	 	 Securities Redeemed in Part
	  	 	46	  
	 SECTION 3.09.
	 	 Special Mandatory Redemption
	  	 	46	  
	 SECTION 3.10.
	 	 Safeway Notes Special Mandatory Redemption
	  	 	47	  
	 SECTION 3.11.
	 	 Safeway Series Amendment Redemption
	  	 	47	  
	 SECTION 3.12.
	 	 Safeway Series Change of Control Tender Offer Redemption
	  	 	47	  
	 SECTION 3.13.
	 	 Notice of Mandatory Redemption
	  	 	48	  

							
	
	ARTICLE 4	  
	
	COVENANTS	  
			
	 SECTION 4.01.
		 Payment of Securities
		 	48	  
	 SECTION 4.02.
		 Reports and Other Information
		 	48	  
	 SECTION 4.03.
		 Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock
		 	50	  
	 SECTION 4.04.
		 Limitation on Restricted Payments
		 	55	  
	 SECTION 4.05.
		 Dividend and Other Payment Restrictions Affecting Subsidiaries
		 	62	  
	 SECTION 4.06.
		 Asset Sales
		 	64	  
	 SECTION 4.07.
		 Transactions with Affiliates
		 	68	  
	 SECTION 4.08.
		 Change of Control
		 	71	  
	 SECTION 4.09.
		 Compliance Certificate
		 	72	  
	 SECTION 4.10.
		 Further Assurances, Instruments and Acts
		 	73	  
	 SECTION 4.11.
		 Future Guarantors
		 	73	  
	 SECTION 4.12.
		 Liens
		 	73	  
	 SECTION 4.13.
		 Maintenance of Office or Agency
		 	74	  
	 SECTION 4.14.
		 Applicability, Discharge and Suspension of Covenants
		 	74	  
	 SECTION 4.15.
		 Limitations on Activities Prior to the Initial Escrow Release
		 	75	  
	 SECTION 4.16.
		 Insurance
		 	76	  
	 SECTION 4.17.
		 Maintenance of Properties
		 	76	  
	
	ARTICLE 5	  
	
	SUCCESSOR COMPANY	  
			
	 SECTION 5.01.
		 When Company May Merge or Transfer Assets
		 	76	  
	
	ARTICLE 6	  
	
	DEFAULTS AND REMEDIES	  
			
	 SECTION 6.01.
		 Events of Default
		 	79	  
	 SECTION 6.02.
		 Acceleration
		 	81	  
	 SECTION 6.03.
		 Other Remedies
		 	81	  
	 SECTION 6.04.
		 Waiver of Past Defaults
		 	81	  
	 SECTION 6.05.
		 Control by Majority
		 	82	  
	 SECTION 6.06.
		 Limitation on Suits
		 	82	  
	 SECTION 6.07.
		 Rights of the Holders to Receive Payment
		 	82	  
	 SECTION 6.08.
		 Collection Suit by Trustee
		 	83	  
	 SECTION 6.09.
		 Trustee May File Proofs of Claim
		 	83	  
	 SECTION 6.10.
		 Priorities
		 	83	  
	 SECTION 6.11.
		 Undertaking for Costs
		 	83	  
	
	ARTICLE 7	  
	
	TRUSTEE	  
			
	 SECTION 7.01.
		 Duties of Trustee
		 	84	  
	 SECTION 7.02.
		 Rights of Trustee
		 	85	  

							
	 SECTION 7.03.
		 Individual Rights of Trustee
		 	86	  
	 SECTION 7.04.
		 Trustee’s Disclaimer
		 	86	  
	 SECTION 7.05.
		 Notice of Defaults
		 	87	  
	 SECTION 7.06.
		 [Reserved]
		 	87	  
	 SECTION 7.07.
		 Compensation and Indemnity
		 	87	  
	 SECTION 7.08.
		 Replacement of Trustee
		 	88	  
	 SECTION 7.09.
		 Successor Trustee by Merger
		 	89	  
	 SECTION 7.10.
		 Eligibility; Disqualification
		 	89	  
	 SECTION 7.11.
		 Preferential Collection of Claims Against the Issuers
		 	89	  
	
	ARTICLE 8	  
	
	DISCHARGE OF INDENTURE; DEFEASANCE	  
			
	 SECTION 8.01.
		 Discharge of Liability on Securities; Defeasance
		 	89	  
	 SECTION 8.02.
		 Conditions to Defeasance
		 	90	  
	 SECTION 8.03.
		 Application of Trust Money
		 	91	  
	 SECTION 8.04.
		 Repayment to Issuers
		 	92	  
	 SECTION 8.05.
		 Indemnity for U.S. Government Obligations
		 	92	  
	 SECTION 8.06.
		 Reinstatement
		 	92	  
	
	ARTICLE 9	  
	
	AMENDMENTS AND WAIVERS	  
			
	 SECTION 9.01.
		 Without Consent of the Holders
		 	92	  
	 SECTION 9.02.
		 With Consent of the Holders
		 	93	  
	 SECTION 9.03.
		 Amendments Prior to Escrow End Date
		 	94	  
	 SECTION 9.04.
		 [Reserved]
		 	95	  
	 SECTION 9.05.
		 Revocation and Effect of Consents and Waivers
		 	95	  
	 SECTION 9.06.
		 Notation on or Exchange of Securities
		 	95	  
	 SECTION 9.07.
		 Trustee and Notes Collateral Agent to Sign Amendments
		 	95	  
	 SECTION 9.08.
		 Additional Voting Terms; Calculation of Principal Amount
		 	96	  
	
	ARTICLE 10	  
	
	GUARANTEES	  
			
	 SECTION 10.01.
		 Guarantees
		 	96	  
	 SECTION 10.02.
		 Limitation on Liability
		 	98	  
	 SECTION 10.03.
		 Successors and Assigns
		 	98	  
	 SECTION 10.04.
		 No Waiver
		 	99	  
	 SECTION 10.05.
		 Modification
		 	99	  
	 SECTION 10.06.
		 Execution of Supplemental Indenture for Future Guarantors
		 	99	  
	 SECTION 10.07.
		 Non-Impairment
		 	99	  
	
	ARTICLE 11	  
	
	SECURITY	  
			
	 SECTION 11.01.
		 Security Documents
		 	99	  

							
	 SECTION 11.02.
		 Releases of Collateral
		 	100	  
	 SECTION 11.03.
		 Suits to Protect the Collateral
		 	102	  
	 SECTION 11.04.
		 Authorization of Receipt of Funds by the Trustee Under the Security Documents
		 	102	  
	 SECTION 11.05.
		 Purchaser Protected
		 	102	  
	 SECTION 11.06.
		 Powers Exercisable by Receiver or Trustee
		 	102	  
	 SECTION 11.07.
		 Release Upon Termination of the Issuers’ Obligations
		 	102	  
	 SECTION 11.08.
		 Notes Collateral Agent
		 	103	  
	
	ARTICLE 12	  
	
	[RESERVED]	  
	
	ARTICLE 13	  
	
	MISCELLANEOUS	  
			
	 SECTION 13.01.
		 [Reserved]
		 	110	  
	 SECTION 13.02.
		 Notices
		 	110	  
	 SECTION 13.03.
		 Communication by the Holders with Other Holders
		 	111	  
	 SECTION 13.04.
		 Certificate and Opinion as to Conditions Precedent
		 	111	  
	 SECTION 13.05.
		 Statements Required in Certificate or Opinion
		 	111	  
	 SECTION 13.06.
		 When Securities Disregarded
		 	111	  
	 SECTION 13.07.
		 Rules by Trustee, Paying Agent and Registrar
		 	112	  
	 SECTION 13.08.
		 Legal Holidays
		 	112	  
	 SECTION 13.09.
		 Governing Law
		 	112	  
	 SECTION 13.10.
		 No Recourse Against Others
		 	112	  
	 SECTION 13.11.
		 Successors
		 	112	  
	 SECTION 13.12.
		 Multiple Originals
		 	112	  
	 SECTION 13.13.
		 Table of Contents; Headings
		 	112	  
	 SECTION 13.14.
		 Indenture Controls
		 	112	  
	 SECTION 13.15.
		 Severability
		 	112	  
	 SECTION 13.16.
		 Waiver of Jury Trial
		 	112	  

  

					
	Appendix A		–		Provisions Relating to Securities
	
	EXHIBIT INDEX
			
	Exhibit A		–		Security
	Exhibit B		–		Form of Transferee Letter of Representation
	Exhibit C		–		Form of Initial Escrow Release Date Supplemental Indenture
	Exhibit D		–		Form of Supplemental Indenture

 INDENTURE, dated as of October 23, 2014, among ALBERTSON’S HOLDINGS LLC, a Delaware
limited liability company (the “Company”), SATURN ACQUISITION MERGER SUB, INC., a Delaware corporation (“Merger Sub” or “Co-Issuer”, and together with the Company, each an “Issuer”
and collectively, the “Issuers”), the Guarantors from time to time party hereto, and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as trustee (in such capacity, together with its successors and assigns in
such capacity, the “Trustee”) and as collateral agent (in such capacity, together with its successors and assigns in such capacity, the “Notes Collateral Agent”). 

W I T N E S S E T H 

WHEREAS, each of the Issuers has duly authorized the execution and delivery of this Indenture; 

WHEREAS, on the Issue Date thereof, the proceeds of the Original Securities will be deposited into the Escrow Account pending, among other
things, the closing of the Safeway Acquisition; 
 WHEREAS, substantially concurrently with the closing of the Safeway Acquisition,
(a) a portion of the Escrowed Property will be released from the Escrow Account to fund a portion of the consideration payable in connection with the Safeway Acquisition, (b) Merger Sub will be merged with and into Safeway Inc.
(“Safeway”), which will be the surviving corporation and (c) the Company, Safeway, the Subsidiary Guarantors and the Trustee shall execute the Initial Escrow Release Date Supplemental Indenture, pursuant to which, among other
things, (i) the obligations of Merger Sub with respect to the due and punctual payment of the principal of, premium, if any, and interest on all the Securities and the performance and observation of each covenant and agreement under this
Indenture on the part of Merger Sub to be performed or observed will become obligations of Safeway, (ii) the obligations of the Issuers will be unconditionally guaranteed by the Guarantors, and (iii) the covenants contained in this
Indenture shall become effective. 
 NOW, THEREFORE, each party agrees as follows for the benefit of the other parties and for the equal and
ratable benefit of the Holders of (a) $1,145,000,000 aggregate principal amount of the Issuers’ 7.750% Senior Secured Notes due October 15, 2022 (the “Original Securities”) issued on the date hereof and (b) any
Additional Securities that may be issued after the date hereof in the form of Exhibit A (all such securities in clauses (a) and (b) being referred to collectively as the “Securities”). Subject to the conditions
and compliance with the covenants set forth herein, the Issuers may issue an unlimited aggregate principal amount of Additional Securities. 

ARTICLE 1 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 SECTION 1.01. Definitions. 

“2016 Notes” means Safeway’s 3.40% Senior Notes due December 2016. 

“2017 Notes” means Safeway’s 6.35% Senior Notes due August 2017. 

“2019 Notes” means Safeway’s 5.00% Senior Notes due August 2019. 

“2020 Notes” means Safeway’s 3.95% Senior Notes due August 2020. 

 “2021 Notes” means Safeway’s 4.75% Senior Notes due December 2021. 

“2027 Notes” means Safeway’s 7.45% Senior Debentures due September 2027. 

“2031 Notes” means Safeway’s 7.25% Senior Debentures due 2031. 

“ABL/Cash Flow Intercreditor Agreement” means that certain intercreditor agreement to be entered into on or prior to the
Initial Escrow Release Date by and among the Notes Collateral Agent, the Term Loan Collateral Agent and the ABL Collateral Agent, as the same may be amended, modified, restated, supplemented or replaced from time to time in accordance with its
terms. 
 “ABL Collateral Agent” means Bank of America, N.A., in its capacity as collateral agent for the lenders and other
secured parties under the ABL Facility, together with its successors and permitted assigns under the ABL Facility. 
 “ABL
Facility” means (i) the revolving credit facility to be entered into on or prior to the Initial Escrow Release Date by and among the Issuers, the other borrowers and guarantors from time to time party thereto, the lenders from time to
time party thereto, Bank of America, N.A., as administrative agent and collateral agent, and the other agents from time to time party thereto as the same may be in effect from time to time and any amendments, supplements, modifications, extensions,
renewals, restatements, refundings, exchanges or refinancings thereof and (ii) whether or not the credit agreement referred to in clause (i) remains outstanding, any other financing arrangements (including, without limitation, commercial
paper facilities or indentures) providing for revolving credit loans, term loans, letters of credit or other indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith,
and any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof and any indentures or credit facilities or commercial paper facilities that replace, refund, refinance, extend, renew, restate, amend,
supplement or modify any part of the loans, notes, other credit facilities or commitments thereunder, including any such exchanged, replacement, refunding, refinancing, extended, renewed, restated, amended, supplemented or modified facility or
indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.03) or adds Restricted Subsidiaries as additional borrowers or
guarantors thereunder or otherwise alters the terms and conditions thereof and whether by the same or any other agent, lender or group of lenders. 

“ABL Obligations” means the “Secured Obligations” as defined in the ABL Facility. 

“ABL Priority Collateral” shall have the meaning assigned to it in the ABL/Cash Flow Intercreditor Agreement. 

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

(1) Indebtedness of any other Person existing at the time such other Person (a) is merged with or into (or consolidated or
otherwise combined with the Company or any Restricted Subsidiary) or (b) became a Restricted Subsidiary of such specified Person, and 

(2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person, 

in each case, including Indebtedness Incurred as consideration in, in contemplation of, or to provide all or any portion of the funds or credit support
utilized to consummate, the transaction or series of related transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was otherwise acquired by such Person, or such asset was acquired by such Person, as applicable.

  
 -2- 

 “Additional Assets” means: 

(1) any property or assets (other than Equity Interests) used or to be used by the Company, a Restricted Subsidiary or
otherwise useful in a Similar Business (it being understood that capital expenditures on property or assets already used in a Similar Business or to replace any property or assets that are the subject of such asset disposition shall be deemed an
investment in Additional Assets); 
 (2) the Equity Interests of a Person that is engaged in a Similar Business and becomes a
Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or a Restricted Subsidiary of the Company; or 

(3) any Permitted Investment. 

“Additional Escrow Release Date” has the meaning set forth in the Escrow Agreement. 

“Additional First Lien Obligations” means any Indebtedness having Pari Passu Lien Priority relative to the Indebtedness
Incurred under the Term Loan Facility with respect to the Collateral; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to each of the Intercreditor Agreements. 

“Additional Officers’ Certificate” means the “Additional Officers’ Certificate” as defined in the Escrow
Agreement. 
 “Additional Second Lien Obligations” means any Indebtedness, permitted to be Incurred under this Indenture,
having Pari Passu Lien Priority relative to the Securities with respect to the Collateral; provided that the holders of such Indebtedness or their agent, trustee or authorized representative shall have entered into a joinder to the Security
Agreement and any other applicable Security Document. 
 “Additional Securities” means Securities issued from time to time
under this Indenture subsequent to the Issue Date. 
 “Affiliate” of any specified Person means any other Person directly
or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,”
“controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person,
whether through the ownership of voting securities, by agreement or otherwise. 
 “Albertson’s Group” means,
collectively, the Company and its Subsidiaries. 
 “Appendix” means Appendix A attached hereto. 

“Applicable Premium” means, with respect to any Security on any applicable redemption date, the greater of: 

(1) 1.0% of the then outstanding principal amount of the Security; and 

  
 -3- 

 (2) the excess of: 

(a) the present value at such redemption date of (i) the redemption price of the Securities, at October 15, 2017 as
set forth in Paragraph 5 of the applicable Security plus (ii) all required interest payments due on such Security through October 15, 2017 (excluding accrued but unpaid interest), computed using a discount rate equal to the Treasury Rate
as of such redemption date plus 50 basis points; over 
 (b) the then outstanding principal amount of the Security, 

in each case, as calculated by the Company or on behalf of the Company by such Persons as the Company may designate. 

The Trustee shall not be responsible for calculating or verifying the calculation of the Applicable Premium. 

“ASC” means the Accounting Standards Codification, including any renumbering of such standards or any successor or
replacement section or sections promulgated by the Financial Accounting Standards Board. 
 “Asset Sale” means the sale,
conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions) of property or assets (including by way of a Sale/Leaseback Transaction) of the Company or any Restricted Subsidiary of the Company (in
each case, other than Equity Interests of the Company and other than to the Company or another Restricted Subsidiary of the Company) (each referred to in this definition as a “disposition”), other than: 

(a) a disposition of cash, Cash Equivalents or Investment Grade Securities; 

(b) the disposition of all or substantially all of the assets of the Company in a manner permitted pursuant to
Section 5.01 or any disposition that constitutes a Change of Control; 
 (c) any Restricted Payment or Permitted
Investment that is permitted to be made, and is made, under Section 4.04; 
 (d) any disposition of assets of the
Company or any Restricted Subsidiary or disposition of Equity Interests of any Restricted Subsidiary in a single transaction or series of related transactions with an aggregate Fair Market Value of less than $25 million; 

(e) any disposition of Excluded Assets (or the Equity Interests of Persons substantially all of the assets of which constitute
Excluded Assets); 
 (f) dispositions of assets received by the Company or any of its Restricted Subsidiaries upon the
foreclosure on a Lien; 
 (g) any disposition of Equity Interests in, or Indebtedness or other securities of, an Unrestricted
Subsidiary; 
 (h) dispositions of inventory and other assets in the ordinary course of business (including the lapse and
abandonment of intellectual property) or dispositions of obsolete or surplus assets, worn out assets or assets no longer useful in the conduct of business of the Company and its Restricted Subsidiaries; 

  
 -4- 

 (i) the lease, assignment or sublease of any real or personal property consistent
with past practice; 
 (j) a sale of accounts receivable and related assets of the type specified in the definition of
“Receivables Financing” to a Receivables Subsidiary in a Qualified Receivables Financing or in factoring or similar transactions; 

(k) a transfer of accounts receivable and related assets of the type specified in the definition of “Receivables
Financing” (or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Financing; 

(l) any exchange of assets for assets (including a combination of assets and Cash Equivalents) related to a Similar Business of
comparable or greater market value or usefulness to the business of the Company and its Restricted Subsidiaries as a whole, as determined in good faith by the Company; 

(m) the grant of any license or sublicense of patents, trademarks, know-how and any other intellectual property or other
general intangibles; 
 (n) the sale of any property in a Sale/Leaseback Transaction within six months of the acquisition of
such property; 
 (o) the sale of the Eastern Division (as defined in the Offering Memorandum) to NAI (as defined in the
Offering Memorandum) as described in the Offering Memorandum; 
 (p) divestitures required in connection with the Safeway
Acquisition; 
 (q) dispositions in connection with the granting or enforcement of Permitted Liens; 

(r) dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of
business or in bankruptcy or similar proceedings; 
 (s) any disposition of the Equity Interests in Casa Ley (as defined in
the Offering Memorandum); 
 (t) the sale or discount (with or without recourse, and on customary or commercially reasonable
terms and for credit management purposes) of accounts receivable or notes receivable arising in the ordinary course of business, or the conversion or exchange of accounts receivable for notes receivable; 

(u) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Company or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired, or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition),
made as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; 

(v) (i) dispositions of property to the extent that such property is exchanged for credit against the purchase price of
similar replacement property that is promptly purchased, (ii) dispositions of property to the extent that the proceeds of such disposition are promptly applied to the purchase price of such replacement property (which replacement property is
actually promptly purchased) and (iii) to the extent allowable under Section 1031 of the Code, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 

  
 -5- 

 (w) dispositions of Investments in joint ventures or similar entities to the
extent required by, or made pursuant to customary buy/sell arrangements between, the parties to such joint venture set forth in joint venture arrangements and similar binding arrangements; 

(x) any surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any
kind; and 
 (y) the unwinding of any Hedging Obligations pursuant to its terms. 

“Bankruptcy Code” means Title 11 of the United States Code, as amended. 

“Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for the relief of debtors. 

“Board of Directors” means as to any Person, the board of directors or managers, as applicable, of such Person (or, if such
Person is a partnership or limited liability company, the board of directors or other governing body of the general partner or managing member of such Person) or any duly authorized committee thereof. 

“Borrowing Base” means the sum of (1) 90% of the book value (calculated in accordance with GAAP) of the accounts
receivable of the Company and its Restricted Subsidiaries, (2) 70% of the book value (calculated in accordance with GAAP) of the inventory of the Company and its Restricted Subsidiaries and (3) 100% of the Unrestricted Cash of the Company
and its Restricted Subsidiaries, in each case as shown on the most recent consolidated balance sheet of the Company and its Restricted Subsidiaries. 

“Business Day” means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or
required by law to close in New York City, or with respect to payments, the place of payment. 
 “Capital Stock” means:

 (1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and 
 (4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in
respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP. 

  
 -6- 

 “Cash Contribution Amount” means the aggregate amount of cash contributions made
to the capital of the Company or any Subsidiary Guarantor as described in the definition of “Contribution Indebtedness.” 

“Cash Equivalents” means: 

(1) U.S. Dollars, pounds sterling, euros, the national currency of any participating member state of the European Union or, in
the case of any Foreign Subsidiary that is a Restricted Subsidiary, such local currencies held by it from time to time in the ordinary course of business; 

(2) securities issued or directly and fully guaranteed or insured by the government of the United States or any country that is
a member of the European Union or any agency or instrumentality thereof in each case with maturities not exceeding two years from the date of acquisition; 

(3) certificates of deposit, time deposits and eurodollar time deposits with maturities of one year or less from the date of
acquisition, bankers’ acceptances, in each case with maturities not exceeding one year, and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $500 million, or the foreign currency equivalent
thereof, and whose long-term debt is rated “A” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency); 

(4) repurchase obligations for underlying securities of the types described in clauses (2) and (3) above entered into
with any financial institution meeting the qualifications specified in clause (3) above; 
 (5) commercial paper issued
by a corporation (other than an Affiliate of the Company) rated at least “A-1” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case
maturing within one year after the date of acquisition; 
 (6) readily marketable direct obligations issued by any state of
the United States of America or any political subdivision thereof having one of the two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency)
in each case with maturities not exceeding two years from the date of acquisition; 
 (7) Indebtedness issued by Persons
(other than the Sponsor or any of its Affiliates) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s in each case with maturities not exceeding two years from the date of acquisition; and 

(8) investment funds investing at least 95% of their assets in securities of the types described in clauses (1) through
(7) above. 
 “CF Debt Priority Collateral” shall have the meaning assigned to it in the ABL/Cash Flow Intercreditor
Agreement. 
 “Change of Control” means the occurrence of any of the following events: 

(i) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all the assets of the
Company and its Subsidiaries, taken as a whole, to a Person other 

  
 -7- 

 
than any of the Permitted Holders, and other than any transaction in compliance with Section 5.01 where the Successor Company is a Wholly Owned Subsidiary of a direct or indirect parent of
the Company; 
 (ii) the Company becomes aware (by way of a report or any other filing pursuant to Section 13(d) of the
Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for
the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than any of the Permitted Holders, in a single transaction or in a related series of transactions, by way of merger,
consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the total voting power of the Voting Stock of the Company or
any direct or indirect parent of the Company; or 
 (iii) the Company ceases to directly or indirectly own 100% of the
capital stock of the Co-Issuer. 
 For purposes of this definition, a Person shall not be deemed to have beneficial ownership of securities subject to a
stock purchase agreement, merger agreement or similar agreement until the consummation of the transactions contemplated by such agreement. Notwithstanding the foregoing, no Specified Merger/Transfer Transaction shall constitute a Change of Control.

 “Change of Control Tender Offer” means one or more offers by Safeway, required to be made as a result of the Safeway
Acquisition, to repurchase any of its outstanding 2019 Notes, 2020 Notes and 2021 Notes at a cash purchase price equal to 101% of the outstanding principal amount thereof, plus accrued and unpaid interest. 

“Co-Issuer” means, (i) prior to consummation of the Safeway Acquisition, Merger Sub, and (ii) immediately following
consummation of the Safeway Acquisition, Safeway. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means all of the assets and property of the Issuers or any Guarantor, whether real, personal or mixed securing
or purported to secure any Second Lien Obligations. 
 “Collateral Agent” means (1) in the case of any Term Loan
Obligations, the Term Loan Collateral Agent and (2) in the case of any Additional First Lien Obligations, the collateral agent, administrative agent or the trustee with respect thereto. 

“Company” means the party named as such in the preamble to this Indenture until a successor replaces it and, thereafter,
means the successor. 
 “consolidated” means, with respect to any Person, such Person consolidated with its Restricted
Subsidiaries, and shall not include any Unrestricted Subsidiary, but the interest of such Person in an Unrestricted Subsidiary shall be accounted for as an Investment. 

  
 -8- 

 “Consolidated Interest Expense” means, with respect to any Person for any
period, the result, without duplication, of (a) the sum of: 
 (i) all interest, premium payments, debt discount,
fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, excluding
amortization of deferred financing fees and expensing of any bridge or other financing fees, the non-cash portion of interest expense resulting from the reduction in the carrying value under purchase accounting of the Company’s outstanding
Indebtedness and commissions, discounts, yield and other fees and charges (including any interest expense) related to any Receivables Financing), and 

(ii) the portion of rent expense with respect to such period under Capitalized Lease Obligations that is treated as
interest in accordance with GAAP, in each case of or by such Person for such period, all as determined on a consolidated basis in accordance with GAAP, 

less (b) interest income for such period; provided that, for purposes of calculating Consolidated Interest Expense, no effect shall be
given to the discount and/or premium resulting from the bifurcation of derivatives under ASC 815 and related interpretations as a result of the terms of the Indebtedness to which such Consolidated Interest Expense relates. 

For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by such Person to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income of such Person
and its Restricted Subsidiaries for such period, on a consolidated basis; provided, however, that: 
 (1) any
net after-tax extraordinary, nonrecurring or unusual gains or losses or income or expenses, including, without limitation, any expenses related to any reconstruction, recommissioning or reconfiguration of fixed assets for alternate uses, any
severance or relocation expenses and fees, curtailments or modifications to pension or post-retirement employee benefit plans, restructuring, recapitalization, facility opening or closing or integration and synergy costs, expenses or charges related
to any issuance of equity, Investment, acquisition or Indebtedness permitted to be Incurred by this Indenture (in each case, whether or not successful), including the sale of the Securities and the other Transactions, shall be excluded; 

(2) any increase in amortization or depreciation or any one-time non-cash charges (such as purchased in-process research and
development or capitalized manufacturing profit in inventory) resulting from purchase accounting in connection with any acquisition that is consummated on or after the Initial Escrow Release Date (including the Safeway Acquisition), shall be
excluded; 
 (3) the Net Income for such period shall not include the cumulative effect of a change in accounting principles
during such period; 
 (4) any net after-tax income or loss from discontinued operations and any net after-tax gains or
losses on disposal of discontinued operations shall be excluded; 

  
 -9- 

 (5) any net after-tax gains or losses (less all fees and expenses or charges
relating thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Company) shall be excluded; 

(6) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of indebtedness shall be excluded; 
 (7) the Net Income for such period of any Person that is not a
Subsidiary of such Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or to the
extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period; 
 (8) an
amount equal to the amount of Tax Distributions actually made to the holders of Capital Stock of such Person or any parent company of such Person in respect of such period in accordance with Section 4.04(b)(xii) shall be included as though such
amounts had been paid as income taxes directly by such Person for such period; 
 (9) any non-cash impairment charges or
asset write-off resulting from the application of ASC 350 and 360, and the amortization of intangibles arising pursuant to ASC 805, shall be excluded; 

(10) any non-cash compensation expense realized from employee benefit plans or post-employment benefit plans, grants of stock
appreciation or similar rights, stock options or other rights to officers, directors and employees of such Person or any of its Restricted Subsidiaries or direct or indirect parent entities shall be excluded; 

(11) (a) (i) the non-cash portion of “straight-line” rent expense shall be excluded and (ii) the cash
portion of “straight-line” rent expense which exceeds the amount expensed in respect of such rent expense shall be included and (b) non-cash gains, losses, income and expenses resulting from fair value accounting required by
ASC 815 shall be excluded; 
 (12) unrealized gains and losses relating to hedging transactions and mark-to-market of
Indebtedness denominated in foreign currencies resulting from the application of ASC 830 shall be excluded; 
 (13) any
(a) severance or relocation costs or expenses, (b) one-time compensation charges, (c) costs and expenses after the Initial Escrow Release Date related to employment of terminated employees, or (d) costs or expenses realized in
connection with or resulting from stock appreciation or similar rights, stock options or other rights existing on the Initial Escrow Release Date of officers, directors and employees, in each case of such Person or any of its Restricted
Subsidiaries, shall be excluded; and 
 (14) solely for the purpose of determining the amount available for Restricted
Payments under Section 4.04(a)(3)(A), the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by such
Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement,
instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restrictions with respect to the payment of dividends or

  
 -10- 

 
similar distributions have been legally waived; provided that (x) the net loss of any such Restricted Subsidiary shall be included therein and (y) the Consolidated Net Income
of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent not already included therein.

 Notwithstanding the foregoing, for the purpose of Section 4.04 only, there shall be excluded from Consolidated Net Income any
dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries of the Company or a Restricted Subsidiary of the Company to the extent such dividends, repayments or transfers increase the amount of Restricted
Payments permitted under Sections 4.04(a)(3)(E) and (F). 
 “Consolidated Non-cash Charges” means, with respect to any
Person for any period, the aggregate depreciation, amortization, impairment, compensation, rent and other non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person for such period on a
consolidated basis and otherwise determined in accordance with GAAP, including non-cash charges resulting from purchase accounting, in connection with the Transactions or any acquisition or disposition after the Issue Date, but excluding
(i) any such charge which consists of or requires an accrual of, or cash reserve for, anticipated cash charges for any future period and (ii) the non-cash impact of recording the change in fair value of any embedded derivatives under
ASC 815 and related interpretations as a result of the terms of any agreement or instrument to which such Consolidated Non-cash Charges relate. 

“Consolidated Taxes” means, with respect to any Person and its Restricted Subsidiaries on a consolidated basis for any
period, provision for taxes based on income, profits or capital, including, without limitation, state franchise and similar taxes, and including an amount equal to the amount of tax distributions actually made to the holders of Capital Stock of such
Person or any direct or indirect parent of such Person in respect of such period in accordance with Section 4.04(b)(xii) which shall be included as though such amounts had been paid as income taxes directly by such Person. 

“Contribution Indebtedness” means Indebtedness, Disqualified Stock or Preferred Stock of the Issuers or any Guarantor in an
aggregate principal amount not greater than the aggregate amount of cash contributions (other than Excluded Contributions) made to the capital of the Issuers or such Guarantor after the Initial Escrow Release Date, provided that: 

(1) such Contribution Indebtedness shall be Indebtedness with a Stated Maturity later than the Stated Maturity of the
Securities, and 
 (2) such Contribution Indebtedness (a) is Incurred within 210 days after the making of such cash
contributions and (b) is so designated as Contribution Indebtedness pursuant to an Officers’ Certificate on the Incurrence date thereof. 

“Credit Agreements” means (i) the ABL Facility and (ii) the Term Loan Facility. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default;
provided that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed to be cured if such previous Default is cured prior to becoming an Event
of Default. 
 “Designated Non-cash Consideration” means the Fair Market Value of non-cash consideration received by
the Company or one of its Restricted Subsidiaries in connection with an Asset Sale 

  
 -11- 

 
that is so designated as Designated Non-cash Consideration pursuant to an Officers’ Certificate, setting forth the basis of such valuation, less the amount of Cash Equivalents received in
connection with a subsequent payment, redemption, retirement, sale or other disposition of such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of the Company or any direct or indirect parent company of the Company, as
applicable (other than Disqualified Stock), that is issued for cash (other than to the Company or any of its Subsidiaries or an employee stock ownership plan or trust established by the Company or any of its Subsidiaries to the extent funded by the
Company and its Restricted Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officers’ Certificate, on or prior to the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth
in Section 4.04(a)(3). 
 “Disinterested Directors” means, with respect to any Affiliate Transaction, a member of the
Board of Directors of the Company having no material direct or indirect financial interest in or with respect to such Affiliate Transaction. A member of the Board of Directors of the Company shall be deemed not to have such a financial interest by
reason of such member’s holding Equity Interests or similar rights in the Company. 
 “Disqualified Stock” means, with
respect to any Person, any Capital Stock of such Person which, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: 

(1) matures or is mandatorily redeemable for cash or in exchange for Indebtedness, pursuant to a sinking fund obligation
or otherwise (other than as a result of a change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are no more favorable in any material respect to holders of such Capital Stock
than the asset sale and change of control provisions applicable to the Securities and any purchase requirement triggered thereby may not become operative until (or contemporaneously with) compliance with the asset sale and change of control
provisions applicable to the Securities (including the purchase of any Securities tendered pursuant thereto)),  
 (2)
is convertible or exchangeable for Indebtedness or Disqualified Stock at the option of the holder thereof, or 
 (3) is
redeemable at the option of the holder thereof, in whole or in part, 
 in each case prior to 91 days after the maturity date of the Securities;
provided, however, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be
Disqualified Stock; provided, further, however, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such
Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or
disability; provided, further, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be
deemed to be Disqualified Stock. 
 “Domestic Subsidiary” means a Restricted Subsidiary that is not a Foreign
Subsidiary. 

  
 -12- 

 “EBITDA” means, with respect to any Person for any period, the Consolidated Net
Income of such Person for such period plus, without duplication, to the extent the same was deducted in calculating such Consolidated Net Income: 

(1) Consolidated Taxes; plus 

(2) Consolidated Interest Expense; plus 

(3) Consolidated Non-cash Charges; plus 

(4) the amount of management, monitoring, consulting and advisory fees and related expenses paid to the Sponsor (or any
accruals relating to such fees and related expenses) during such period to the extent otherwise permitted under Section 4.07; plus 

(5) any expenses or charges (other than Consolidated Non-cash Charges) related to any issuance of Equity Interests,
Investment, acquisition, disposition, recapitalization or the Incurrence, repayment or amendment of Indebtedness permitted to be Incurred by this Indenture (including a refinancing thereof) (whether or not successful), including (i) such fees,
expenses or charges related to the offering of the Securities or any other Indebtedness, (ii) any amendment or other modification of the Securities or other Indebtedness and (iii) commissions, discounts, yield and other fees and charges
(including any interest expense) related to any Qualified Receivables Financing; plus 
 (6) the amount of loss
on sale of receivables and related assets to a Receivables Subsidiary in connection with a Qualified Receivables Financing; plus 

(7) any costs, expenses or losses incurred pursuant to any management equity plan or stock option plan or other
management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such costs, expenses or losses are funded with cash proceeds contributed to the capital of the Company or any of its Restricted
Subsidiaries or the net cash proceeds of an issuance of Equity Interests of the Company (other than Disqualified Stock) solely to the extent that such net cash proceeds are excluded from the calculation of the amount available for Restricted
Payments under Section 4.04(a)(3)(A); plus 
 (8) (a) the Net Income of any Person and its Restricted
Subsidiaries shall be calculated without deducting the income attributed to, or adding the losses attributed to, the minority equity interests of third parties in any non-wholly owned Restricted Subsidiary except to the extent of the dividends
declared or paid in respect of such period on the shares of Capital Stock of such Restricted Subsidiary held by such third parties and (b) any ordinary course dividend, distributions or other payment paid in cash and received from any Person in
excess of amounts included in clause (7) pursuant to the definition of “Consolidated Net Income” shall be included; plus 

(9) proceeds of business interruption insurance. 

less, without duplication, non-cash items increasing Consolidated Net Income for such period (excluding any items which represent the reversal of any
accrual of, or cash reserve for, anticipated cash charges in any prior period). 
 “Equity Interests” means Capital
Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

  
 -13- 

 “Equity Offering” means any public or private sale after the Initial Escrow
Release Date of common stock or Preferred Stock of the Company or any direct or indirect parent company of the Company, as applicable (other than Disqualified Stock), other than: 

(1) public offerings with respect to the Company’s or such direct or indirect parent company’s common stock
registered on Form S-8; and 
 (2) any such public or private sale that constitutes an Excluded Contribution. 

“Escrow Account” has the meaning assigned to it in the Escrow Agreement. 

“Escrow Agent” has the meaning assigned to it in the Escrow Agreement. 

“Escrow Agreement” means that certain Escrow Agreement, dated as of October 23, 2014, by and among the Company, Merger
Sub, the Trustee and Wilmington Trust, National Association, as escrow agent and as securities intermediary, as may be amended, amended and restated, supplemented or otherwise modified from time to time. 

“Escrow End Date” means (i) with respect to the Initial Escrow Release Date, June 5, 2015 and (ii) with
respect to any Additional Escrow Release Date (as defined in the Escrow Agreement), the later of (x) June 5, 2015 and (y) the date that is 90 days after the date of the Safeway Acquisition. 

“Escrowed Property” has the meaning assigned to it in the Escrow Agreement. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Excluded Assets” has the meaning assigned to it in the Security Documents. 

“Excluded Contributions” means the net cash proceeds, Cash Equivalents and/or Investment Grade Securities or other property
or assets received by the Company after the Initial Escrow Release Date from: 
 (1) contributions to its common equity
capital, and 
 (2) the issuance or sale (other than to a Restricted Subsidiary of the Company or pursuant to any Company or
Restricted Subsidiary management equity plan or stock option plan or any other management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Company, 

in each case designated as Excluded Contributions pursuant to an Officers’ Certificate executed by an Officer of the Company, the proceeds of which are
excluded from the calculation set forth in Section 4.04(a)(3). 
 “Fair Market Value” means, with respect to any asset
or property, the price which could be negotiated in an arm’s-length, free market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction, as
determined by the Company in its good faith discretion. “Fair Market Value” may be (but need not be) conclusively established by means of an Officers’ Certificate or resolutions of the Board of Directors of the Company setting out
such Fair Market Value as determined by such Officer or such Board of Directors in good faith. 

  
 -14- 

 “First Lien Obligations” shall have the meaning assigned to it in the Second
Lien Intercreditor Agreement. 
 “Fixed Charge Coverage Ratio” means, with respect to any Person for any period, the ratio
of EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that the Issuers or any of the Restricted Subsidiaries Incurs or redeems any Indebtedness (other than in the case of revolving credit
borrowings unless the commitment is reduced or revolving advances under any Qualified Receivables Financing, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during the applicable period) or
issues or redeems Preferred Stock or Disqualified Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to the event for which the calculation of the Fixed Charge Coverage Ratio is
made (referred to in this definition as the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness, or such issuance or redemption of
Preferred Stock or Disqualified Stock, as if the same had occurred at the beginning of the applicable four-quarter period. 
 For purposes
of making the computation referred to above, Investments, acquisitions, dispositions, mergers, consolidations and discontinued or disposed operations (as determined in accordance with GAAP), and operational changes, that the Company or any of its
Restricted Subsidiaries has made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date (each referred to in this definition as a “pro forma
event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, consolidations, disposed or discontinued operations and operational changes (and the change of any associated fixed
charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with
or into the Company or any Restricted Subsidiary since the beginning of such period shall have made or effected any Investment, acquisition, disposition, merger, consolidation or disposed or discontinued operation, or operational change that would
have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger, consolidation, discontinued
operation, or operational change had occurred at the beginning of the applicable four-quarter period. 
 For purposes of this definition,
whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company. If any Indebtedness bears a floating rate of interest and is
being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such
Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Company to be the rate of interest implicit in such Capitalized
Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance
of such Indebtedness during the applicable period except as provided above. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or
other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate as the Company may designate. Any such pro forma calculation may include adjustments appropriate, in the reasonable
determination of the Issuers as set forth in an Officers’ Certificate, to reflect in the case of any pro forma event, operating expense reductions and other operating improvements or synergies reasonably expected to result within twelve months
of such pro forma event, 

  
 -15- 

 
including all adjustments of the type and nature used in connection with the calculation of “Pro Forma Adjusted EBITDA” as set forth in footnote 3 under “Summary—Summary
Unaudited Pro Forma Condensed Combined Financial Information” in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four quarter period. 

“Fixed Charges” means, with respect to any Person for any period, the sum of: 

(1) Consolidated Interest Expense of such Person for such period, and 

(2) all cash dividend payments (excluding items eliminated in consolidation) made during such period on any series of Preferred
Stock or Disqualified Stock of such Person and its Restricted Subsidiaries. 
 “Foreign Subsidiary” means a Restricted
Subsidiary not organized or existing under the laws of the United States of America or any state or territory thereof or the District of Columbia and any direct or indirect Subsidiary of such Restricted Subsidiary, and any Subsidiary of such Person
that otherwise would be a Domestic Subsidiary substantially all of whose assets consist of Capital Stock and/or indebtedness of one or more Foreign Subsidiaries and any other assets incidental thereto. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment
of the accounting profession, which are in effect on the Issue Date. 
 “Grantors” means the Issuers and the Guarantors.

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

“Guarantee” means any guarantee of the obligations of the Issuers under this Indenture and the Securities by any Person in
accordance with the provisions of this Indenture. 
 “Guarantor” means any Person that Incurs a Guarantee; provided
that upon the release or discharge of such Person from its Guarantee in accordance with this Indenture, such Person ceases to be a Guarantor. 

“Hedging Obligations” means, with respect to any Person, the obligations of such Person under: 

(1) currency exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap agreements
and currency exchange, interest rate or commodity collar agreements, or foreign exchange contracts; and 
 (2) other
agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates or commodity prices either generally or under specific contingencies. 

  
 -16- 

 “Holder” means the Person in whose name a Security is registered on the
Registrar’s books. 
 “Increased Amount” means, with respect to any Indebtedness, any increase in the amount of such
Indebtedness in connection with any accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional Indebtedness with the same terms, accretion of original issue
discount or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness. 

“Incur” (including, with correlative meaning, the term “Incurrence”) means issue, assume, guarantee, incur
or otherwise become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall be deemed to
be Incurred by such Person at the time it becomes a Subsidiary and any Indebtedness under a revolving credit or similar facility shall only be deemed to be incurred at the time funds are borrowed. 

“Indebtedness” means, with respect to any Person, without duplication: 

(1) the principal and premium (if any) of any indebtedness of such Person, whether or not contingent, (a) in respect of
borrowed money, (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof), with the amount of letters of credit and
bankers’ acceptances being the amount equal to the amount available to drawn, (c) representing the deferred and unpaid purchase price of any property (except trade payables and similar obligations) which purchase price is due more than one
year after the later of the date of placing the property in service or taking delivery and title thereto, or (d) in respect of Capitalized Lease Obligations, if and to the extent that any of the foregoing indebtedness (other than letters of
credit) would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 

(2) to the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as obligor, guarantor or
otherwise, on the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and 

(3) to the extent not otherwise included, the principal component of Indebtedness of another Person secured by a Lien on
any asset owned by such Person (whether or not such Indebtedness is assumed by such Person); provided, however, that the amount of such Indebtedness will be the lesser of: (a) the Fair Market Value of such asset at such date of
determination, and (b) the amount of such Indebtedness of such other Person; 
 provided that obligations under or in respect of
Receivables Financings or Hedging Obligations shall be deemed not to constitute Indebtedness. 
 “Indenture” means
this Indenture as amended or supplemented from time to time. 
 “Independent Financial Advisor” means an accounting,
appraisal or investment banking firm of nationally recognized standing. 
 “Initial Escrow Release” has the meaning set
forth in the Escrow Agreement. 

  
 -17- 

 “Initial Escrow Release Date” has the meaning set forth in the Escrow Agreement.

 “Initial Escrow Release Date Supplemental Indenture” means the supplemental indenture to this Indenture, to be dated as
of the Initial Escrow Release Date, by and among Safeway, the Company, the Subsidiary Guarantors parties thereto and the Trustee, substantially in the form of Exhibit C. 

“Initial Officers’ Certificate” has the meaning set forth in the Escrow Agreement. 

“Initial Purchasers” means the initial purchasers named on Schedule A to the Purchase Agreement or future purchase agreements
entered into in connection with an offer and sale of Securities. 
 “Intercreditor Agreements” means, collectively, the
ABL/Cash Flow Intercreditor Agreement and the Second Lien Intercreditor Agreement. 
 “Investment Grade Rating” means a
rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 

“Investment Grade Securities” means: 

(1) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality
thereof (other than Cash Equivalents) and in each case with maturities not exceeding two years from the date of acquisition, 

(2) securities that have a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent)
by S&P, or an equivalent rating by any other Rating Agency, 
 (3) investments in any fund that invests at least 95% of
its assets in investments of the type described in clauses (1) and (2) which fund may also hold immaterial amounts of cash pending investment and/or distribution, and 

(4) corresponding instruments in countries other than the United States customarily utilized for high quality investments and
in each case with maturities not exceeding two years from the date of acquisition. 
 “Investments” means, with respect to
any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission,
travel and similar advances to officers, employees and consultants made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and
investments that are required by GAAP to be classified on the balance sheet of the Company in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For
purposes of the definition of “Unrestricted Subsidiary” and Section 4.04: 
 (1)
“Investments” shall include the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an
Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal
to an amount (if positive) equal to: 
 (a) the Company’s “Investment” in such Subsidiary at the time
of such designation less 
 (b) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the
Fair Market Value of the net assets of such Subsidiary at the time of such redesignation; 

  
 -18- 

 (2) any property transferred to or from an Unrestricted Subsidiary shall be
valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by the Board of Directors of the Company; and 

(3) the amount of the Company’s Investment in the entities constituting PDC (as defined in the Offering Memorandum) at the
time of designation as an Unrestricted Subsidiary and at the time of any subsequent redesignation as a Restricted Subsidiary shall be zero. 

“Issue Date” means October 23, 2014. 

“Issue Price” means, with respect to any Original Securities, an amount equal to 98.55% of the original principal amount
thereof. 
 “Issuers” means Persons named as the “Issuers” in the preamble to this Indenture (including Safeway,
immediately following consummation of the Safeway Acquisition), until a Successor Company or Companies and/or Successor Co-Issuer or Co-Issuers, as applicable, shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter, “Issuers” shall mean such Successor Company(s) and/or Successor Co-Issuer(s). 
 “Lien” means,
with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other
title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent
statutes) of any jurisdiction); provided that in no event shall an operating lease be deemed to constitute a Lien. 

“LTIP Agreements” means the AB Acquisition LLC Long Term Incentive Plan, as amended and the AB Acquisition LLC Senior
Executive Retention Plan, as amended. 
 “Merger Agreement” means the Agreement and Plan of Merger, dated March 6,
2014, by and among AB Acquisition LLC, a Delaware limited liability company, the Company, Albertson’s LLC, a Delaware limited liability company, Merger Sub and Safeway, as the same may be amended, supplemented, waived or otherwise modified from
time to time. 
 “Merger Sub” means the party named as such in the preamble to this Indenture until a successor replaces it
and, thereafter, means the successor. 
 “Moody’s” means Moody’s Investors Service, Inc. or any successor to the
rating agency business thereof. 

  
 -19- 

 “Net Cash Proceeds” means the aggregate cash proceeds received by the Company or
any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash
payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the disposed assets
or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including, without limitation, legal, accounting and investment
banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing
arrangements related thereto), amounts required to be paid to the holder of a beneficial interest in such asset or applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to
Section 4.06(b)) to be paid as a result of such transaction, and any deduction of appropriate amounts to be provided by the Company as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such
transaction and retained by the Company after such sale or other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any
indemnification obligations associated with such transaction. 
 “Net Income” means, with respect to any Person, the net
income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 

“Notes Collateral Agent” means the party named as such in the preamble to this Indenture until a successor replaces it and,
thereafter, means the successor. 
 “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements (including, without limitation, reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable under the documentation governing any Indebtedness, including any
interest, fees and other amounts securing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest, fees and other
amounts are allowed claims under applicable state, federal or foreign law). 
 “Offering Memorandum” means the offering
memorandum relating to the offering of the Original Securities dated October 8, 2014. 
 “Officer” means, with respect
to any Person, the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer, the Secretary or the Assistant Secretary of such Person, or
any direct or indirect parent of such Person, as applicable, or other Person performing such functions, regardless of title or designated as an “Officer” by the Board of Directors for purposes of this Indenture. 

“Officers’ Certificate” means a certificate signed on behalf of each Issuer by one Officer of each Issuer or any direct
or indirect parent of the Company. 
 “Opinion of Counsel” means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuers or the Trustee. 

  
 -20- 

 “Pari Passu Lien Priority” means, relative to specified Indebtedness, having
equal Lien priority on specified Collateral. 
 “Permitted Asset Swap” means the substantially concurrent purchase and sale
or exchange of assets used or useful in the business or Related Business Assets or a combination of assets used or useful in the business, Related Business Assets and cash or Cash Equivalents between the Company or any of its Restricted Subsidiaries
and another Person; provided that any cash or Cash Equivalents received must be applied in accordance with Section 4.06. 

“Permitted Holders” means (i) the Sponsor, the Related Cerberus Parties, and any other funds or managed accounts advised
or managed by any Sponsor or one of Sponsor’s Affiliates, (ii) any Person that has no material assets other than the Capital Stock of the Company or a parent of the Company and, directly or indirectly, holds or acquires 100% of the total
voting power of the Voting Stock of the Company, and of which no other Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), other than any Permitted Holder specified
in clause (i) above, holds more than 50% of the total voting power of the Voting Stock thereof, and (iii) any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision) the
members of which include any Permitted Holder specified in clause (i) above and that, directly or indirectly, hold or acquire beneficial ownership of the Voting Stock of the Company (referred to in this definition as a “Permitted Holder
Group”), so long as (1) each member of the Permitted Holder Group has voting rights proportional to the percentage of ownership interests held or acquired by such member and (2) no Person or other “group” (other than a
Permitted Holder specified in clause (i) above) beneficially owns more than 50% on a fully diluted basis of the Voting Stock held by the Permitted Holder Group. Any person or group, together with its Affiliates, whose acquisition of beneficial
ownership constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture will thereafter constitute an additional Permitted Holder. 

“Permitted Investments” means: 

(1) any Investment in the Issuers (including the Securities) or any Restricted Subsidiary; 

(2) any Investment in cash or Cash Equivalents or Investment Grade Securities; 

(3) any Investment by the Company or any Restricted Subsidiary of the Company in a Person that is primarily engaged in a
Similar Business if as a result of such Investment (a) such Person becomes a Restricted Subsidiary of the Company, or (b) such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or
into, or transfers or conveys all or substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary of the Company; 

(4) any Investment in securities or other assets not constituting Cash Equivalents and received in connection with an Asset
Sale made pursuant to Section 4.06 or any other disposition of assets not constituting an Asset Sale; 
 (5) any
Investment (x) existing on the Initial Escrow Release Date, (y) made pursuant to binding commitments (whether or not subject to conditions) in effect on the Initial Escrow Release Date or (z) that replaces, refinances, refunds, renews
or extends any Investment described under either of the immediately preceding clauses (x) or (y), provided that any such Investment is in an amount that does not exceed the amount replaced, refinanced, refunded, renewed or extended
unless required by the terms of the Investment or otherwise permitted hereunder; 

  
 -21- 

 (6) advances to future, current and former officers, directors, employees and
consultants of the Company and its Restricted Subsidiaries, or any direct or indirect parent company thereof, not in excess of $50 million outstanding at any one time in the aggregate; 

(7) any Investment acquired by the Company or any of its Restricted Subsidiaries (a) in exchange for any other Investment
or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable, (b) in
satisfaction of judgments against other Persons, or (c) as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment
in default; 
 (8) Hedging Obligations entered into (1) for the purpose of fixing, managing or hedging interest rate
risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (2) for the purpose of fixing, managing or hedging currency exchange rate risk with respect to any currency exchanges; or (3) for the
purpose of fixing, managing or hedging commodity price risk with respect to any commodity purchases; 
 (9) any
Investment by the Company or any of its Restricted Subsidiaries in a Similar Business (other than an Investment in an Unrestricted Subsidiary) having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this
clause (9) that are at the time outstanding, not to exceed the greater of (x) $1,050 million and (y) 6% of Total Assets at the time of such Investment (with the Fair Market Value of each Investment being measured at the time made and
without giving effect to subsequent changes in value); provided, however, that if any Investment pursuant to this clause (9) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of
such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this
clause (9) for so long as such Person continues to be a Restricted Subsidiary; 
 (10) additional Investments by
the Company or any of its Restricted Subsidiaries having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause (10) that are at the time outstanding, not to exceed the greater of (x) $750
million and (y) 3.25% of Total Assets at the time of such Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); 

(11) (a) loans and advances to officers, directors and employees for business-related travel expenses, moving and
relocation expenses and other similar expenses, in each case Incurred in the ordinary course of business and (b) extensions of credit to customers and suppliers consistent with past practices; 

(12) Investments the payment for which consists of Equity Interests of the Company (other than Disqualified Stock) or
any direct or indirect parent company of the Company, as applicable; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under Section 4.04(a)(3); 

(13) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance with
Section 4.07(b) (except transactions described in clauses (ii), (v) and (viii)(B) of such Section); 

  
 -22- 

 (14) Investments consisting of the licensing or contribution of intellectual
property pursuant to joint marketing arrangements with other Persons; 
 (15) guarantees issued in accordance with
Sections 4.03 and 4.11; 
 (16) any Investment by Restricted Subsidiaries of the Company in other Restricted
Subsidiaries of the Company and Investments by Subsidiaries that are not Restricted Subsidiaries in other Subsidiaries that are not Restricted Subsidiaries of the Company; 

(17) Investments consisting of purchases and acquisitions of inventory, supplies, materials and equipment or purchases of
contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; 

(18) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in
connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness; provided, however,
that any Investment in a Receivables Subsidiary is in the form of cash, a Purchase Money Note, contribution of additional receivables or an equity interest; 

(19) any Investment made with (a) Wellness Center Assets having a Fair Market Value not in excess of $300 million or
(b) Excluded Assets, including, in each case, any such Investment made in an Unrestricted Subsidiary or joint venture (or similar entity); 

(20) Investments in joint ventures of the Company or any of its Restricted Subsidiaries in an aggregate amount, taken together
with all other Investments made pursuant to this clause (20) that are at the time outstanding, not to exceed the greater of (x) $650 million and (y) 3% of Total Assets at the time of such Investment; plus the amount of any
distributions, dividends, payments or other returns in respect of such Investments; provided that if such Investment is in Capital Stock of a Person that subsequently becomes a Restricted Subsidiary, such Investment shall thereafter be deemed
permitted under clause (1) or (2) above and shall not be included as having been made pursuant to this clause (20); 

(21) Investments of a Restricted Subsidiary of the Company acquired after the Initial Escrow Release Date or of an entity
merged into or consolidated with a Restricted Subsidiary of the Company in a transaction that is not prohibited by Section 5.01 after the Initial Escrow Release Date to the extent that such Investments were not made in contemplation of such
acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; 
 (22)
Investments made in connection with the Transactions; 
 (23) Investments by an Unrestricted Subsidiary entered into prior to
the day such Unrestricted Subsidiary is redesignated as a Restricted Subsidiary; 
 (24) Investments in receivables owing to
the Company or any Restricted Subsidiary created or acquired in the ordinary course of business; 
 (25) to the extent
constituting an Investment, Permitted Liens or Permitted Debt; 

  
 -23- 

 (26) Investments consisting of earnest money deposits required in connection with
a purchase agreement, or letter of intent, or other acquisitions to the extent not otherwise prohibited by this Indenture; 

(27) Investments consisting of licensing or contribution of intellectual property pursuant to joint marketing arrangements with
other Persons; and 
 (28) contributions to a “rabbi” trust for the benefit of employees or other grantor trust
subject to claims of creditors in the case of a bankruptcy of the Company. 
 “Permitted Liens” means, with respect to any
Person: 
 (1) pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws or
similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or
deposits of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of
business; 
 (2) Liens imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens, arising in the
ordinary course of business securing obligations that are not overdue for more than 30 days or that are being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to
which such Person shall then be proceeding with an appeal or other proceedings for review (or which, if due and payable, are being contested in good faith by appropriate proceedings and for which adequate reserves are being maintained, to the extent
required by GAAP and such proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien); 

(3) Liens for taxes, assessments or other governmental charges that are not yet due or that are being contested in good faith
by appropriate proceedings that have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien and for which adequate reserves are being maintained to the extent required by GAAP; 

(4) pledges and deposits in favor of issuers of performance and surety bonds or bid bonds or with respect to other regulatory
requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; 

(5) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses,
rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership
of its properties, which do not secure Indebtedness, and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

(6) Liens securing Obligations in respect of Indebtedness permitted to be Incurred pursuant to Section 4.03(a) (including
the Non-Guarantor Exception) or clause (i), (ii), (v), (xiii), (xiv) or (xxi) of Section 4.03(b); provided that (w) in the case of Indebtedness Incurred pursuant to Section 4.03(a) (other than pursuant to the
Non-Guarantor Exception, which is addressed in clause (z) below), the Senior Secured First Lien Indebtedness Leverage Ratio would not exceed, 

  
 -24- 

 
if the Indebtedness being incurred is a First Lien Obligation, 3.75 to 1.00 after giving pro forma effect to such Incurrence and any such Indebtedness (whether or not a First Lien Obligation) is
subject to the provisions of the Intercreditor Agreements (including with respect to the relative priority of the ABL Priority Collateral and CF Debt Priority Collateral), (x) in the case of clauses (i) and (ii) of
Section 4.03(b), such Liens are subject to the provisions of the Intercreditor Agreements (including with respect to the relative priority of the ABL Priority Collateral and CF Debt Priority Collateral), (y) in the case of clause (v)
of Section 4.03(b), such Lien extends only to the assets and/or Capital Stock, the acquisition, lease, construction, repair, replacement or improvement of which is financed thereby and any proceeds or products thereof and (z) in the case
of the Non-Guarantor Exception, such Lien does not extend to any assets or property that constitute Collateral; 
 (7) Liens
existing on the Initial Escrow Release Date; 
 (8) Liens on assets, property or shares of stock of a Person at the
time such Person becomes a Subsidiary; provided, however, that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided, further,
however, that such Liens may not extend to any other property owned by the Company or any Restricted Subsidiary of the Company; 

(9) Liens on assets, property or equity at the time the Company or a Restricted Subsidiary of the Company acquired the
assets, property or equity, including any acquisition by means of a merger or consolidation with or into the Company or any Restricted Subsidiary of the Company; provided, however, that such Liens are not created or Incurred in
connection with, or in contemplation of, such acquisition; provided, further, however, that the Liens may not extend to any other assets or property owned by the Company or any Restricted Subsidiary of the Company; 

(10) Liens securing Indebtedness or other obligations of the Company or a Restricted Subsidiary owing to the Issuers or a
Restricted Subsidiary of the Company permitted to be Incurred in accordance with Section 4.03; 
 (11) Liens securing
Hedging Obligations entered into (1) for the purpose of fixing, managing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (2) for the purpose of fixing,
managing or hedging currency exchange rate risk with respect to any currency exchanges; or (3) for the purpose of fixing, managing or hedging commodity price risk with respect to any commodity purchases; 

(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in
respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(13) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of the
Company or any of its Restricted Subsidiaries; 
 (14) Liens arising from Uniform Commercial Code financing statement filings
regarding operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary course of business; 

(15) Liens in favor of the Issuers or any Restricted Subsidiary; 

  
 -25- 

 (16) Liens on accounts receivable and related assets of the type specified in the
definition of “Receivables Financing” Incurred in connection with a Qualified Receivables Financing; 
 (17)
deposits made in the ordinary course of business to secure liability to insurance carriers; 
 (18) Liens on the Equity
Interests of Unrestricted Subsidiaries; 
 (19) grants of software and other technology licenses in the ordinary course of
business; 
 (20) (a) judgment and attachment Liens and Liens arising out of decrees, orders and awards, in each case, to the
extent not giving rise to an Event of Default and (b) notices of lis pendens and associated rights related to litigation being contested in good faith by appropriate proceedings that have the effect of preventing the forfeiture or sale of the
property or assets subject to such notices and rights and for which adequate reserves have been made to the extent required by GAAP; 

(21) Liens arising out of conditional sale, title retention, hire purchase, consignment or similar arrangements for the sale of
goods entered into in the ordinary course of business; 
 (22) Liens securing cash management services (and other “bank
products” under any ABL Obligations) in the ordinary course of business; 
 (23) Liens on equipment of the Company or
any Restricted Subsidiary granted in the ordinary course of business to the Company’s or such Restricted Subsidiary’s client or supplier at which such equipment is located; 

(24) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings,
refundings, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8), (9), (10), (11) and (15); provided, however, that
(x) such new Lien shall be limited to all or part of the same property that was encumbered by the original Lien (plus improvements on such property) or could have been encumbered by the original Lien (provided, that this clause
(x) shall not apply to Indebtedness incurred to refinance, refund, extend, renew or replace the Remaining Safeway Notes (or any successive refinancings, refundings, extensions, renewals or replacements thereof)), and (y) the Indebtedness
secured by such Lien at such time is not increased to any amount greater than the sum of (A) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8), (9), (10),
(11) and (15) at the time the original Lien became a Permitted Lien under this Indenture, plus accretion of original issue discount, and (B) an amount necessary to pay any fees and expenses, including premiums, related to such
refinancing, refunding, extension, renewal or replacement; provided that nothing contained herein shall prevent the Company or any Restricted Subsidiary from pledging any asset to secure any Indebtedness (including refinancing Indebtedness)
of Safeway and its Subsidiaries; 
 (25) Liens to secure the Securities, Additional Securities and the Guarantees;

 (26) other Liens securing obligations Incurred in the ordinary course of business (and any refinancing, refunding,
extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals or replacements) as a whole, or in part, of any such obligations); provided, however, that such obligations do not exceed the greater of
(x) $500 million and (y) 

  
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2.25% of Total Assets measured at the time of Incurrence thereof; provided further, however, that notwithstanding the foregoing, nothing contained herein shall prevent the
Company or any Restricted Subsidiary from refinancing, refunding, extending, renewing or replacing any obligations Incurred under this clause (whether or not such obligations could be newly Incurred under this clause on the date of such refinancing,
refunding, extension, renewal or replacement), so long as the obligations resulting from such refinancing, refunding, extension, renewal or replacement do not exceed the sum of (A) the outstanding principal amount or, if greater, committed
amount of such obligations at the time the original Lien became a Permitted Lien under the indenture, plus accretion of original issue discount, and (B) an amount necessary to pay any fees and expenses, including premiums, related to such
refinancing, refunding, extension, renewal or replacement; 
 (27) Liens on the Safeway Collateral in favor of the
holders of the Remaining 2020/2021 Notes and Rolled 2027/2031 Notes; 
 (28) Liens on the Collateral in favor of the holders
of the Rolled 2016/2017 Notes and Remaining 2019 Notes; 
 (29) Liens on assets or property of a Restricted Subsidiary that
is not a Guarantor securing Indebtedness of any Restricted Subsidiary that is not a Guarantor; 
 (30) Liens (a) that
are contractual rights of set-off or, in the case of clause (i) or (ii) below, other bankers’ Liens (i) relating to treasury, depository and cash management services or any automated clearing house transfers of funds in the
ordinary course of business and not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business
of the Company or any Subsidiary or (iii) relating to purchase orders and other agreements entered into with customers of the Company or any Restricted Subsidiary in the ordinary course of business; (b) on cash accounts securing
Indebtedness expressly permitted hereunder; (c) encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of
business, consistent with past practice and not for speculative purposes; and/or (d) (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection and (ii) in favor of a
banking institution arising as a matter of law encumbering deposits (including the right of set-off) arising in the ordinary course of business in connection with the maintenance of such accounts and (iii) arising under customary general terms
of the account bank in relation to any bank account maintained with such bank and attaching only to such account and the products and proceeds thereof; 

(31) (a) mortgages, liens, security interests, restrictions, encumbrances or any other matters of record that have been placed
by any government, statutory or regulatory authority, developer, landlord or other third party (in each case, other than the Issuers or any Restricted Subsidiary) on property over which the Company or any Restricted Subsidiary of the Company has
easement rights or on any leased property with respect to which an Issuer or a Restricted Subsidiary is the tenant and subordination or similar arrangements relating thereto and (b) any condemnation or eminent domain proceedings affecting any
real property; 
 (32) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of
any joint venture or similar arrangement pursuant to any joint venture or similar agreement; 
 (33) [intentionally omitted];

  
 -27- 

 (34) Liens on assets or securities deemed to arise in connection with and solely
as a result of the execution, delivery or performance of contracts to sell such assets or securities if such sale is otherwise permitted by this Indenture; 

(35) Liens arising by operation of law or contract on insurance policies and the proceeds thereof to secure premiums
thereunder, and Liens, pledges and deposits in the ordinary course of business securing liability for premiums or reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the
benefits of) insurance carriers; 
 (36) Liens solely on any cash earnest money deposits made in connection with any letter
of intent or purchase agreement permitted under this Indenture; 
 (37) Liens (i) on cash advances in favor of the
seller of any property to be acquired in an Investment permitted pursuant to Permitted Investments to be applied against the purchase price for such Investment, and (ii) consisting of an agreement to sell any property in an asset sale permitted
under this Indenture; 
 (38) Liens on Excluded Assets; and 

(39) Liens on the Collateral in favor of any Collateral Agent for the benefit of the Holders relating to such Collateral
Agent’s administrative expenses with respect to the Collateral. 
 “Person” means any individual, corporation,
partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Preferred Stock” means any Equity Interest with preferential right of payment of dividends or upon liquidation, dissolution
or winding up. 
 “Purchase Agreement” means the Purchase Agreement, dated October 8, 2014, by and among the Company
and Merger Sub, as co-issuers, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC, as representatives of Initial Purchasers. 

“Purchase Money Note” means a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be
irrevocable, from the Company or any Subsidiary of the Company to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended to finance that portion of the purchase price that is not paid by cash or a
contribution of equity. 
 “Qualified Real Estate Financing Facility” means (i) any credit facility made available to
a Real Estate Subsidiary that is non-recourse to the Company or any of its other Subsidiaries (other than Real Estate Subsidiaries party to such credit facility) and secured by the Real Property of Real Estate Subsidiaries and (ii) any sale and
leaseback of Real Property of Real Estate Subsidiaries, as the same may be amended, supplemented, waived or otherwise modified from time to time or refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to
time. 

  
 -28- 

 “Qualified Receivables Financing” means any Receivables Financing of a
Receivables Subsidiary that meets the following conditions: 
 (1) the Board of Directors of the Company shall have
determined in good faith that such Qualified Receivables Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Company and the Receivables Subsidiary,

 (2) all sales of accounts receivable and related assets to the Receivables Subsidiary are made at Fair Market Value, and

 (3) the financing terms, covenants, termination events and other provisions thereof shall be market terms (as determined
in good faith by the Company) and may include Standard Securitization Undertakings. 
 The grant of a security interest in any accounts
receivable of the Company or any of its Restricted Subsidiaries (other than a Receivables Subsidiary) to secure any Credit Agreement shall not be deemed a Qualified Receivables Financing. 

“Rating Agency” means (1) each of Moody’s and S&P and (2) if Moody’s or S&P ceases to rate the
Securities for reasons outside of the Issuers’ control, a “nationally recognized statistical rating organization,” as such term is defined under Section 3(a)(62) under the Exchange Act selected by the Company or any parent of the
Company as a replacement agency for Moody’s or S&P, as the case may be. 
 “Real Estate Subsidiary” means any
Restricted Subsidiary of the Company that (i) does not engage in any business other than owning or leasing real property or (ii) owning directly or indirectly the Equity Interests of its Restricted Subsidiaries described in clause
(i) or a holding company of any such Subsidiary. 
 “Real Property” means all now owned and hereafter acquired real
property of an Issuer or any Guarantor, including leasehold interests, together with all buildings, structures, and other improvements located thereon and all licenses, easements and appurtenances relating thereto, wherever located. 

“Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any participation
interest issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Financing. 

“Receivables Financing” means any transaction or series of transactions that may be entered into by the Company or any of its
Subsidiaries pursuant to which the Company or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Receivables Subsidiary (in the case of a transfer by the Company or any of its Subsidiaries), and (b) any other Person
(in the case of a transfer by a Receivables Subsidiary), or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of the Company or any of its Subsidiaries, and any assets related thereto
including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are
customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable and any Hedging Obligations entered into by the Company or any such
Subsidiary in connection with such accounts receivable. 

  
 -29- 

 “Receivables Repurchase Obligation” means any obligation of a seller of
receivables in a Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any
asserted defense, dispute, off-set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 

“Receivables Subsidiary” means a Wholly Owned Restricted Subsidiary of the Company (or another Person formed for the purposes
of engaging in a Qualified Receivables Financing with the Company in which the Company or any Subsidiary of the Company makes an Investment and to which the Company or any Subsidiary of the Company transfers accounts receivable and related assets)
which engages in no activities other than in connection with the financing of accounts receivable of the Company and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any
business or activities incidental or related to such business, and which is designated by the Board of Directors of the Company (as provided below) as a Receivables Subsidiary and: 

(a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the
Company or any other Subsidiary of the Company (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Company or
any other Subsidiary of the Company in any way other than pursuant to Standard Securitization Undertakings, or (iii) subjects any property or asset of the Company or any other Subsidiary of the Company, directly or indirectly, contingently or
otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, 
 (b) with which
neither the Company nor any other Subsidiary of the Company has any material contract, agreement, arrangement or understanding other than on terms which the Company reasonably believes to be no less favorable to the Company or such Subsidiary than
those that might be obtained at the time from Persons that are not Affiliates of the Company, and 
 (c) to which neither the
Company nor any other Subsidiary of the Company has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results. 

Any such designation by the Board of Directors of the Company shall be evidenced to the Trustee by filing with the Trustee a certified copy of
the resolution of the Board of Directors of the Company giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing conditions. 

“Related Cerberus Parties” means any affiliated funds or managed accounts which are managed or advised by Cerberus Capital
Management, L.P. or an Affiliate of Cerberus Capital Management, L.P. 
 “Related Business Assets” means assets (other than
cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Company or a Restricted Subsidiary in exchange for assets transferred by the Company or a Restricted Subsidiary will not be deemed to be
Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 

“Remaining 2019 Notes” means the 2019 Notes that are not repurchased or redeemed as a result of the Change of Control Tender
Offer and the other transactions described in the Offering Memorandum. 

  
 -30- 

 “Remaining 2020/2021 Notes” means collectively, the 2020 Notes and the 2021
Notes that are not repurchased or redeemed as a result of the Change of Control Tender Offer and the other transactions described in the Offering Memorandum. 

“Remaining Safeway Notes” means, collectively, (i) the Rolled 2016/2017 Notes, (ii) the Rolled 2027/2031 Notes,
(iii) the Remaining 2019 Notes and (iv) the Remaining 2020/2021 Notes. 
 “Restricted Investment” means an
Investment other than a Permitted Investment. 
 “Restricted Subsidiary” means, (i) with respect to any Person, any
Subsidiary of such Person other than an Unrestricted Subsidiary of such Person and (ii) in the case of the Company, the Co-Issuer. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted
Subsidiaries of the Company. 
 “Rolled 2016/2017 Safeway Notes” means, collectively, the 2016 Notes and 2017 Notes. 

“Rolled 2027/2031 Safeway Notes” means, collectively, the 2027 Notes and 2031 Notes. 

“S&P” means Standard & Poor’s Ratings Group or any successor to the rating agency business thereof. 

“Safeway” means the party named as such in the preamble to this Indenture until a successor replaces it and, thereafter,
means the successor. 
 “Safeway Acquisition” means the acquisition by the Company of Safeway by virtue of the merger of
Merger Sub with and into Safeway, with Safeway surviving such merger as a Wholly Owned Subsidiary of the Company. 
 “Safeway
Collateral” means the assets of Safeway and its Domestic Subsidiaries that constitute Collateral (excluding accounts receivable, merchandise inventory, equipment and intellectual property). 

“Safeway Notes” means, collectively, the 2016 Notes, 2017 Notes, 2019 Notes, 2020 Notes, 2021 Notes, 2027 Notes and 2031
Notes. 
 “Sale/Leaseback Transaction” means an arrangement relating to property now owned or hereafter acquired by the
Company or a Restricted Subsidiary whereby the Company or a Restricted Subsidiary transfers such property to a Person and the Company or such Restricted Subsidiary leases it from such Person, other than leases between the Company and a Restricted
Subsidiary of the Company or between Restricted Subsidiaries of the Company. 
 “SEC” means the Securities and Exchange
Commission. 
 “Second Lien Intercreditor Agreement” means that certain intercreditor agreement to be entered into on or
prior to the Initial Escrow Release Date by and among the Issuers and the Guarantors, the Notes Collateral Agent, the Term Loan Collateral Agent, and each additional party that from time to time becomes a party thereto, as the same may be amended,
modified, restated, supplemented or replaced from time to time in accordance with its terms. 
 “Second Lien Obligations”
shall have the meaning assigned to it in the Second Lien Intercreditor Agreement. 

  
 -31- 

 “Second Lien Representative” shall have the meaning assigned to it in the Second
Lien Intercreditor Agreement. 
 “Second Lien Secured Parties” shall have the meaning assigned to it in the Second Lien
Intercreditor Agreement. 
 “Secured Indebtedness” means any Indebtedness secured by a Lien. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Security Agreement” means the security agreement to be dated as of the Initial Escrow Release Date between
the Notes Collateral Agent, the Issuers, and the Guarantors, as amended, modified, restated, supplemented or replaced from time to time in accordance with its terms. 

“Security Documents” means, collectively, the Intercreditor Agreements, the Security Agreement, other security agreements
relating to the Collateral and the mortgages, deeds of trust and other instruments delivered to the Notes Collateral Agent that create or purport to create a Lien in favor of the Notes Collateral Agent for the benefit of the Second Lien Secured
Parties, including instruments filed and recorded in appropriate jurisdictions to preserve and protect the Liens on the Collateral (including, without limitation, financing statements under the Uniform Commercial Code, of the relevant states)
applicable to the Collateral, each for the benefit of the Notes Collateral Agent, as amended, amended and restated, modified, renewed or replaced from time to time. 

“Senior Secured Indebtedness” means any Indebtedness for borrowed money secured by a Lien on any Collateral that is
contractually senior in priority to the Lien securing the Securities and any other Second Lien Obligations (it being understood that any Indebtedness that constitutes an ABL Obligation shall constitute Senior Secured Indebtedness). 

“Senior Secured First Lien Indebtedness Leverage Ratio” means with respect to any Person for any period, the ratio of
(x) the aggregate amount of, without duplication, (A) Senior Secured Indebtedness outstanding as of the date the calculation is made minus (B) the aggregate amount of unrestricted cash, Cash Equivalents of the Issuers and the
Restricted Subsidiaries, to (y) the aggregate amount of EBITDA for such period (the “reference period”). 
 In making
the foregoing calculation, (1) any Indebtedness, Disqualified Stock or Preferred Stock to be repaid or redeemed on the transaction date will be excluded and (2) the Senior Secured First Lien Indebtedness Leverage Ratio will be calculated
on a pro forma basis in a manner consistent with the pro forma adjustments contemplated by the definition of “Fixed Charge Coverage Ratio.” 

“Series” means (a) with respect to any First Lien Obligations, each of (i) the Term Loan Obligations and
(ii) the Additional First Lien Obligations Incurred pursuant to any applicable agreement, which, pursuant to any joinder agreement, are to be represented under the ABL/Cash Flow Intercreditor Agreement by a common representative (in its
capacity as such for such Additional First Lien Obligations) and (b) with respect to any Second Lien Obligations, each of (i) the Obligations under this Indenture and (ii) and any other Obligations with respect to other Indebtedness,
which is by its terms intended to be secured equally and ratably with the Securities; provided, that the holders of such Indebtedness or their Second Lien Representative shall become party to the Security Agreement.  

“Series of Notes” means, as the context requires, the 2019 Notes, the 2020 Notes or the 2021 Notes. 

  
 -32- 

 “Significant Subsidiary” means any Restricted Subsidiary that would be a
“Significant Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 

“Similar Business” means any business conducted or proposed to be conducted by the Company and the Restricted Subsidiaries on
the Initial Escrow Release Date or any business that is similar, reasonably related, incidental, ancillary or complementary thereto, or is a reasonable extension, development or expansion thereof. 

“Sponsor” means, individually and collectively, (a) Cerberus Capital Management, L.P., (b) Lubert-Adler Real Estate
Fund V, L.P., (c) Klaff Realty, L.P., (d) Schottenstein Stores Corporation, and (e) Kimco Realty Corporation. 

“Standard Securitization Undertakings” means representations, warranties, covenants, indemnities and guarantees of
performance entered into by the Company or any Subsidiary of the Company which the Company has determined in good faith to be customary in a Receivables Financing including, without limitation, those relating to the servicing of the assets of a
Receivables Subsidiary, it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking. 

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the
final payment of principal of such security is due and payable. 
 “Subordinated Indebtedness” means (a) with respect
to any Issuer, any Indebtedness of such Issuer which is by its terms subordinated in right of payment to the Securities, and (b) with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms subordinated in right of
payment to its Guarantee. 
 “Subsidiary” means, with respect to any Person, (1) any corporation, association or other
business entity (other than a partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election
of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (2) any partnership,
joint venture or limited liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly
or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any
Restricted Subsidiary of such Person is a controlling general partner or otherwise controls such entity. 
 “Subsidiary
Guarantee” means a Guarantee by a Subsidiary Guarantor of the Issuers’ Obligations with respect to the Securities. 

“Subsidiary Guarantor” means each Subsidiary of the Company party hereto as a Guarantor and each other Subsidiary of the
Company that hereafter guarantees the Securities pursuant to the terms of this Indenture. 
 “Tax Distributions” means any
distributions described in Section 4.04(b)(xii). 
 “Term Loan B-3” has the meaning assigned to it in the Term Loan
Facility. 

  
 -33- 

 “Term Loan B-4” has the meaning assigned to it in the Term Loan Facility. 

“Term Loan Collateral Agent” means Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent
under the Term Loan Facility, its successors and/or assigns in such capacity. 
 “Term Loan Escrow Agreement” has the
meaning assigned to it in the Term Loan Facility. 
 “Term Loan Facility” means (i) the term loan credit agreement
entered into on or prior to the Initial Escrow Release Date among the Issuers, the other borrowers and guarantors party thereto, the lenders from time to time party thereto, Credit Suisse AG, Cayman Islands Branch, as administrative agent and the
other agents from time to time party thereto, as the same may be in effect from time to time and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, exchanges or refinancings thereof and (ii) any other
financing arrangements (including, without limitation, indentures) providing for revolving credit loans, term loans, letters of credit or other indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and
agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof and any indentures or credit facilities or commercial paper facilities that replace, refund,
refinance, extend, renew, restate, amend, supplement or modify any part of the loans, notes, other credit facilities or commitments thereunder, including any such exchanged, replacement, refunding, refinancing, extended, renewed, restated, amended,
supplemented or modified facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.03) or adds Restricted
Subsidiaries as additional borrowers or guarantors thereunder or otherwise alters the terms and conditions thereof and whether by the same or any other agent, lender or group of lenders. 

“Term Loan Obligations” means the “Secured Obligations” as defined in the Term Loan Facility. 

“TIA” means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in effect on the Issue Date. 

“Total Assets” means the total consolidated assets of the Company and its Restricted Subsidiaries, as shown on the most
recent consolidated balance sheet of the Company and its Restricted Subsidiaries, determined on a pro forma basis in a manner consistent with the pro forma basis calculation in the definition of “Fixed Charge Coverage Ratio.” 

“Transactions” has the meaning assigned to it in the Offering Memorandum. 

“Treasury Rate” means, as of the applicable redemption date, the yield to maturity as of such redemption date of United
States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become publicly available at least two Business Days prior to such redemption date (or, if such
Statistical Release is no longer published, any publicly available source of similar market data selected by the Company in good faith)) most nearly equal to the period from such redemption date to October 15, 2017; provided,
however, that if the period from such redemption date to October 15, 2017 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Officer” means any officer within the corporate trust administration department of the Trustee, with direct
responsibility for performing the Trustee’s duties under this Indenture and also 

  
 -34- 

 
means, with respect to a particular corporate trust matter and this Indenture, any other officer of the Trustee to whom such matter is referred because of such person’s knowledge of and
familiarity with the particular subject. 
 “Trustee” means the party named as such in the preamble to this Indenture until
a successor replaces it and, thereafter, means the successor. 
 “Uniform Commercial Code” means the Uniform Commercial
Code as in effect in the relevant jurisdiction from time to time. 
 “Unrestricted Cash” means cash or Cash Equivalents of
the Company and any of its Restricted Subsidiaries that would not appear as “restricted cash” on a consolidated balance sheet of the Company and its Restricted Subsidiaries. 

“Unrestricted Subsidiary” means: 

(1) any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted Subsidiary by the Board
of Directors of such Person in the manner provided below; and 
 (2) any Subsidiary of an Unrestricted Subsidiary. 

The Board of Directors of the Company may designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary of
the Company but excluding the Company) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Company or any other Subsidiary
of the Company that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur any
Indebtedness pursuant to which the lender has recourse to any of the assets of the Company or any of its Restricted Subsidiaries; provided, further, however, that (other than with respect to the designation of the entities
comprising PDC and their Subsidiaries as Unrestricted Subsidiaries, as provided below) either: 
 (a) the Subsidiary to be so
designated has total consolidated assets of $1,000 or less; or 
 (b) if such Subsidiary has consolidated assets greater than
$1,000, then such designation would be permitted under Section 4.04. 
 The Board of Directors shall be deemed to have designated the
entities comprising PDC and their Subsidiaries as Unrestricted Subsidiaries effective on the Initial Escrow Release Date, without being required to take any further action otherwise required under this Indenture for such designation. 

The Board of Directors of the Company may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided,
however, that (other than with respect to the redesignation of any Unrestricted Subsidiary which is an entity comprising PDC or one of its Subsidiaries as a Restricted Subsidiary) immediately after giving effect to such designation: 

(x) (1) the Company could Incur $1.00 of additional Indebtedness pursuant to Section 4.03(a) or (2) the Fixed
Charge Coverage Ratio for the Company and its Restricted Subsidiaries would not be less than such ratio for the Company and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such
designation, and 
 (y) no Event of Default shall have occurred and be continuing. 

  
 -35- 

 Any such designation by the Board of Directors of the Company shall be evidenced to the Trustee
by promptly filing with the Trustee a copy of the resolution of the Board of Directors of the Company giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing provisions. 

“U.S. Government Obligations” means securities that are: 

(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged, or

 (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of
America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 
 which, in
each case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such U.S.
Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such
custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or
interest on the U.S. Government Obligations evidenced by such depository receipt. 
 “Voting Stock” of any Person as
of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 

“Weighted Average Life to Maturity” means, when applied to any Indebtedness or Disqualified Stock, as the case may be, at any
date, the quotient obtained by dividing (1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with
respect to such Disqualified Stock multiplied by the amount of such payment, by (2) the sum of all such payments. 
 “Wellness
Center Assets” means the personal property assets comprising the wellness centers of the Company and its Subsidiaries as described in the Offering Memorandum and any reasonable extension or business ancillary thereto. 

“Wholly Owned Restricted Subsidiary” means any Wholly Owned Subsidiary that is a Restricted Subsidiary. 

“Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other
ownership interests of which (other than directors’ qualifying shares or shares or interests required to be held by foreign nationals or other third parties to the extent required by applicable law) shall at the time be owned by such Person or
by one or more Wholly Owned Subsidiaries of such Person and one or more Wholly Owned Subsidiaries of such Person. 

  
 -36- 

 SECTION 1.02. Other Definitions. 

 

			
	 Term
	  	 Defined in

Section

		
	“Action”	  	11.08(v)
	“Agent Members”	  	Appendix A
	“Affiliate Transaction”	  	4.07(a)
	“Asset Sale Offer”	  	4.06(b)
	“CERCLA”	  	11.08(q)
	“Clearstream”	  	Appendix A
	“Change of Control Offer”	  	4.08(b)
	“covenant defeasance option”	  	8.01
	“Covenant Suspension Event”	  	4.14(b)
	“Custodian”	  	6.01
	“Definitive Security”	  	Appendix A
	“Depository”	  	Appendix A
	“Designated Notes”	  	3.12
	“Euroclear”	  	Appendix A
	“Event of Default”	  	6.01
	“Excess Proceeds”	  	4.06(b)
	“Global Securities”	  	Appendix A
	“Global Securities Legend”	  	Appendix A
	“Guaranteed Obligations”	  	10.01(a)
	“IAI”	  	Appendix A
	“legal defeasance option”	  	8.01
	“Non-Guarantor Exception”	  	4.03(a)
	“Notice of Default”	  	6.01
	“Offer Period”	  	4.06(d)
	“Original Securities”	  	Preamble
	“Paying Agent”	  	2.04(a)
	“Permitted Debt”	  	4.03(b)
	“protected purchaser”	  	2.08
	“QIB”	  	Appendix A
	“Refinancing Indebtedness”	  	4.03(b)(xv)
	“Refunding Capital Stock	  	4.04(b)(ii)(A)
	“Registrar”	  	2.04(a)
	“Regulation S”	  	Appendix A
	“Regulation S Global Securities”	  	Appendix A
	“Regulation S Securities”	  	Appendix A
	“Related Person”	  	11.08(b)
	“Restricted Payments”	  	4.04(a)
	“Restricted Period”	  	Appendix A
	“Restricted Securities Legend”	  	Appendix A
	“Retired Capital Stock”	  	4.04(b)(ii)(A)
	“Reversion Date”	  	4.14(c)
	“Rule 501”	  	Appendix A
	“Rule 144A”	  	Appendix A
	“Rule 144A Global Securities”	  	Appendix A
	“Rule 144A Securities”	  	Appendix A

  
 -37- 

			
	 Term
	  	 Defined in

Section

		
	“Safeway Notes Special Mandatory Redemption”	  	3.10
	“Safeway Notes Special Mandatory Redemption Date”	  	3.10
	“Safeway Series Amendment Redemption”	  	3.11
	“Safeway Series Amendment Redemption Date”	  	3.11
	“Safeway Series Change of Control Tender Offer Redemption”	  	3.12
	“Safeway Series Change of Control Tender Offer Redemption Date”	  	3.12
	“Securities”	  	Preamble
	“Securities Custodian”	  	Appendix A
	“Security Document Order”	  	11.08(r)
	“Special Mandatory Redemption”	  	3.09
	“Special Mandatory Redemption Date”	  	3.09
	“Specified Merger/Transfer Transaction”	  	5.01(a)
	“Successor Co-Issuer”	  	5.01(b)(i)
	“Successor Company”	  	5.01(a)(i)
	“Successor Guarantor”	  	5.01(b)(i)
	“Suspended Covenants”	  	4.14(b)
	“Suspension Period”	  	4.14(c)
	“Transfer Restricted Definitive Securities”	  	Appendix A
	“Transfer Restricted Global Securities”	  	Appendix A
	“Unrestricted Definitive Security”	  	Appendix A
	“Unrestricted Global Security”	  	Appendix A

 SECTION 1.03. [Reserved]. 

SECTION 1.04. Rules of Construction. Unless the context otherwise requires 

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

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

(c) “or” is not exclusive; 

(d) “including” means including without limitation; 

(e) words in the singular include the plural and words in the plural include the singular; 

(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; 
 (g) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the Company dated such date prepared in accordance with GAAP; 

  
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 (h) the principal amount of any Preferred Stock shall be (i) the maximum
liquidation value of such Preferred Stock or (ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; 

(i) unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations
hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP; 

(j) “$” and “U.S. Dollars” each refer to United States dollars, or such other money of the
United States of America that at the time of payment is legal tender for payment of public and private debts; and 
 (k) for
any periods or dates which the Company does not have historical financial statements available, it shall be entitled to use and rely on the financial statements of its predecessor or successor (as the case may be). 

ARTICLE 2 
 THE
SECURITIES 
 SECTION 2.01. Amount of Securities; Issuable in Series. The aggregate principal amount of Original Securities which
may be authenticated and delivered under this Indenture on the Issue Date is $1,145,000,000. The Securities may be issued in one or more series. All Securities of any one series shall be substantially identical except as to denomination. 

The Issuers may from time to time after the Issue Date issue Additional Securities under this Indenture in an unlimited principal amount, so
long as (i) the Incurrence of the Indebtedness represented by such Additional Securities is at such time permitted by Section 4.03 and (ii) such Additional Securities are issued in compliance with the other applicable provisions of
this Indenture. With respect to any Additional Securities issued after the Issue Date (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to
Sections 2.07, 2.08, 2.09, 2.10, 3.08, 4.06(g), 4.08(c) or the Appendix), there shall be (a) established in or pursuant to a resolution of the Board of Directors of the Company and (b) (i) set forth or determined in the manner
provided in an Officers’ Certificate or (ii) established in one or more indentures supplemental hereto, prior to the issuance of such Additional Securities: 

(i) whether such Additional Securities shall be issued as part of a new or existing series of Securities and the title of such
Additional Securities (which shall distinguish the Additional Securities of the series from Securities of any other series); 

(ii) the aggregate principal amount of such Additional Securities which may be authenticated and delivered under this
Indenture; 
 (iii) the issue price and issuance date of such Additional Securities, including the date from which interest
on such Additional Securities shall accrue; and 
 (iv) if applicable, that such Additional Securities shall be issuable in
whole or in part in the form of one or more Global Securities and, in such case, the respective depositaries for such Global Securities, the form of any legend or legends which shall be borne by such Global Securities in addition to or in lieu of
those set forth in Exhibit A hereto and any circumstances in addition to or in lieu of those set forth in Section 2.2 of the Appendix in which any such Global 

  
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Security may be exchanged in whole or in part for Additional Securities registered, or any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons
other than the depositary for such Global Security or a nominee thereof. 
 If any of the terms of any Additional Securities are established
by action taken pursuant to a resolution of the Board of Directors of the Company, a copy of an appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Company and delivered to the Trustee at or prior
to the delivery of the Officers’ Certificate or the indenture supplemental hereto setting forth the terms of the Additional Securities. 

SECTION 2.02. Form and Dating. Provisions relating to the Securities are set forth in the Appendix, which is hereby incorporated in and
expressly made a part of this Indenture. The Securities and the Trustee’s certificate of authentication, and any Additional Securities, if issued as Transfer Restricted Definitive Securities, and the Trustee’s certificate of
authentication, shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock
exchange rule, agreements to which any Issuer or any Guarantor is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuers). Each Security shall be dated the date of its
authentication. The Securities shall be issuable only in registered form without interest coupons and only in minimum denominations of $2,000 and any integral multiples of $1,000 in excess thereof. 

SECTION 2.03. Execution and Authentication. The Trustee shall authenticate and make available for delivery upon a written order of the
Issuers signed by one Officer of each Issuer (a) Original Securities for original issue on the date hereof in an aggregate principal amount of $1,145,000,000 and (b) subject to the terms of this Indenture, Additional Securities in an
aggregate principal amount to be determined at the time of issuance and specified therein. Such order shall specify the amount of the Securities to be authenticated and the date on which the original issue of Securities is to be authenticated.
Notwithstanding anything to the contrary in the Indenture or the Appendix, any issuance of Additional Securities after the Issue Date shall be in a principal amount of at least $2,000 and any integral multiples of $1,000 in excess thereof, whether
such Additional Securities are of the same or a different series than the Original Securities. 
 One Officer of each Issuer shall sign the
Securities for the Issuers by manual or facsimile signature. 
 If an Officer whose signature is on a Security no longer holds that office
at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid until an
authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuers to authenticate the Securities. Any such
appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Issuers. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities whenever the Trustee
may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 

  
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 SECTION 2.04. Registrar and Paying Agent. 

(a) The Issuers shall maintain (i) an office or agency where Securities may be presented for registration of transfer or for exchange
(the “Registrar”) and (ii) an office or agency in the United States where Securities may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of the Securities and of their
transfer and exchange. The Issuers may have one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrars. The term “Paying Agent” includes the Paying Agent and any additional
paying agents. The Issuers initially appoint the Trustee as (i) Registrar and Paying Agent in connection with the Securities and (ii) the Securities Custodian with respect to the Global Securities. 

(b) The Issuers shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The
agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee in writing of the name and address of any such agent. If the Issuers fail to maintain a Registrar or Paying Agent, the Trustee
shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The Company or any of its domestically organized Wholly Owned Subsidiaries may act as Paying Agent or Registrar. 

(c) The Issuers may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying Agent and to the Trustee;
provided, however, that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the Issuers and such successor Registrar
or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The
Registrar or Paying Agent may resign at any time upon written notice to the Issuers and the Trustee; provided, however, that the Trustee may resign as Paying Agent or Registrar only if the Trustee also resigns as Trustee in accordance
with Section 7.08. 
 SECTION 2.05. Paying Agent to Hold Money in Trust. Prior to 10:00 a.m., New York City time, on each due
date of the principal of and interest on any Security, the Issuers shall deposit with each Paying Agent (or if the Company or a Wholly Owned Subsidiary is acting as Paying Agent, segregate and hold in trust for the benefit of the Persons entitled
thereto) a sum sufficient to pay such principal and interest when so becoming due. The Issuers shall require each Paying Agent (other than the Trustee) to agree in writing that a Paying Agent shall hold in trust for the benefit of Holders or the
Trustee all money held by a Paying Agent for the payment of principal of and interest on the Securities, and shall notify the Trustee in writing of any default by the Issuers in making any such payment. If the Company or a Wholly Owned Subsidiary of
the Company acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it in trust for the benefit of the Persons entitled thereto. The Issuers at any time may require a Paying Agent to pay all money held by it to the
Trustee and to account for any funds disbursed by such Paying Agent. During the continuance of a Default under this Indenture, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. Upon any bankruptcy or reorganization
proceedings relating to either of the Issuers, the Trustee will serve as Paying Agent. Upon complying with this Section 2.05, a Paying Agent shall have no further liability for the money delivered to the Trustee. 

SECTION 2.06. Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available
to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Company shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five Business Days before each interest payment date and at such
other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. 

  
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 SECTION 2.07. Transfer and Exchange. The Securities shall be issued in registered form and
shall be transferable only upon the surrender of a Security for registration of transfer and in compliance with Appendix A. When a Security is presented to the Registrar with a request to register a transfer, the Registrar shall register the
transfer as requested if its requirements therefor are met. When Securities are presented to the Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as
requested if the same requirements are met. To permit registration of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Securities at the Registrar’s request. The Issuers may require payment of a sum
sufficient to pay all taxes, assessments or other governmental charges in connection with any transfer or exchange pursuant to this Section 2.07. The Issuers shall not be required to make, and the Registrar need not register, transfers or
exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or of any Securities for a period of 15 days before a selection of Securities to be redeemed. 

Prior to the due presentation for registration of transfer of any Security, the Issuers, the Guarantors, the Trustee, each Paying Agent and
the Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest, if any, on such Security and for all other purposes
whatsoever, whether or not such Security is overdue, and none of the Issuers, any Guarantor, the Trustee, a Paying Agent or the Registrar shall be affected by notice to the contrary. 

Any Holder of a beneficial interest in a Global Security shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Security may be effected only through a book-entry system maintained by (a) the Holder of such Global Security (or its agent) or (b) any Holder of a beneficial interest in such Global Security, and that ownership
of a beneficial interest in such Global Security shall be required to be reflected in a book entry. 
 All Securities issued upon any
transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 

SECTION 2.08. Replacement Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims
that the Security has been lost, destroyed or wrongfully taken, the Issuers shall issue and the Trustee shall authenticate a replacement Security if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Holder
(a) satisfies the Issuers or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such
request to the Issuers or the Trustee prior to the Security being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected purchaser”)
and (c) satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the Issuers, such Holder shall furnish an indemnity bond sufficient in the judgment of (i) the Trustee to protect the Trustee or
(ii) the Issuers, to protect the Issuers, the Trustee, a Paying Agent and the Registrar, from any loss that any of them may suffer if a Security is replaced. The Issuers and the Trustee may charge the Holder for their expenses in replacing a
Security (including, without limitation, attorneys’ fees and disbursements in replacing such Security). In the event any such mutilated, lost, destroyed or wrongfully taken Security has become or is about to become due and payable, the Issuers
in their discretion may pay such Security instead of issuing a new Security in replacement thereof. 

  
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 Every replacement Security is an additional obligation of the Issuers. 

The provisions of this Section 2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to
the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. 
 SECTION 2.09. Outstanding Securities.
Securities outstanding at any time are all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section 2.09 as not outstanding. Subject to
Section 13.06, a Security does not cease to be outstanding because an Issuer or an Affiliate of an Issuer holds the Security. 
 If a
Security is replaced pursuant to Section 2.08 (other than a mutilated Security surrendered for replacement), it ceases to be outstanding unless the Trustee and the Issuers receive proof satisfactory to them that the replaced Security is held by
a protected purchaser. A mutilated Security ceases to be outstanding upon surrender of such Security and replacement thereof pursuant to Section 2.08. 

If a Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date or maturity date money sufficient to
pay all principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is prohibited from paying such money to the Holders on that date pursuant to
the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 

SECTION 2.10. Temporary Securities. In the event that Definitive Securities are to be issued under the terms of this Indenture, until
such Definitive Securities are ready for delivery, the Issuers may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of Definitive Securities but may have variations that the
Issuers consider appropriate for temporary Securities. Without unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate Definitive Securities and make them available for delivery in exchange for temporary Securities upon
surrender of such temporary Securities at the office or agency of the Company, without charge to the Holder. Until such exchange, temporary Securities shall be entitled to the same rights, benefits and privileges as Definitive Securities. 

SECTION 2.11. Cancellation. The Issuers at any time may deliver Securities to the Trustee for cancellation. The Registrar and each
Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer, exchange, payment or
cancellation and shall dispose of canceled Securities in accordance with its customary procedures or deliver copies of canceled Securities to the Issuers pursuant to written direction by an Officer of each Issuer. The Issuers may not issue new
Securities to replace Securities they have redeemed, paid or delivered to the Trustee for cancellation. The Trustee shall not authenticate Securities in place of canceled Securities other than pursuant to the terms of this Indenture. 

SECTION 2.12. Defaulted Interest. If the Issuers default in a payment of interest on the Securities, the Issuers shall pay the
defaulted interest then borne by the Securities (plus interest on such defaulted interest to the extent lawful), in any lawful manner. The Issuers may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The
Issuers shall fix or cause to be fixed any such special record date and payment date to the reasonable satisfaction of the Trustee and shall promptly mail or cause to be mailed to each affected Holder a notice that states the special record date,
the payment date and the amount of defaulted interest to be paid. 

  
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 SECTION 2.13. CUSIP Numbers, ISINs, etc. The Issuers in issuing the Securities may use
CUSIP numbers, ISINs and “Common Code” numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers, ISINs and “Common Code” numbers in notices of redemption as a convenience to Holders; provided,
however, that any such notice may state that no representation is made as to the correctness of such numbers, either as printed on the Securities or as contained in any notice of a redemption, that reliance may be placed only on the other
identification numbers printed on the Securities and that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuers shall advise the Trustee in writing of any change in the CUSIP numbers, ISINs and
“Common Code” numbers. 
 SECTION 2.14. Calculation of Specified Percentage of Securities. With respect to any matter
requiring consent, waiver, approval or other action of the Holders of a specified percentage of the principal amount of all the Securities, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the
principal amount, as of such date of determination, of Securities, the Holders of which have so consented by (b) the aggregate principal amount, as of such date of determination, of the Securities then outstanding, in each case, as determined
in accordance with the preceding sentence, Section 2.09 and Section 13.06 of this Indenture. Any such calculation made pursuant to this Section 2.14 shall be made by the Issuers and delivered to the Trustee pursuant to an
Officers’ Certificate. 
 ARTICLE 3 

REDEMPTION 
 SECTION 3.01.
Redemption. 
 (a) The Securities may be redeemed at the Issuers’ option, in whole, or from time to time in part, subject to the
conditions and at the redemption prices set forth in Paragraph 5 of the form of Securities set forth in Exhibit A hereto, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest
to (but not including) the redemption date. 
 (b) Except as provided in Sections 3.09 and 3.10, the Issuers shall not be required to make
any mandatory redemption or sinking fund payments with respect to the Notes. 
 SECTION 3.02. Applicability of Article. Redemption of
Securities at the election of the Issuers or otherwise, as permitted or required by any provision of this Indenture or the Securities, shall be made in accordance with such provision and this Article 3. 

SECTION 3.03. Notices to Trustee. If the Issuers elect to redeem Securities pursuant to the optional redemption provisions of Paragraph
5 of the applicable Security, they shall notify the Trustee in writing of (i) the Section of this Indenture and the Security pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of
Securities to be redeemed and (iv) the redemption price. The Issuers shall give notice to the Trustee provided for in this paragraph at least 30 days but not more than 60 days before a redemption date if the redemption is pursuant to
Paragraph 5 of the applicable Security, unless a shorter period is acceptable to the Trustee. Such notice shall be accompanied by an Officers’ Certificate and Opinion of Counsel from the Issuers to the effect that such redemption will comply
with the conditions herein. If fewer than all the Securities are to be redeemed, the record date relating to such redemption shall be selected by the Issuers and given in writing to the Trustee, which record date shall be not fewer than 15 days
after the date of notice to the Trustee. Any such notice may be canceled at any time prior to notice of such redemption being sent to any Holder and shall thereby be void and of no effect. 

  
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 SECTION 3.04. Selection of Securities to Be Redeemed. In the case of any partial
redemption, selection of the Securities for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which such Securities are listed (if such listing is known to the
Trustee), or if such Securities are not so listed, by lot or by such other method as the Trustee shall deem fair and appropriate (and in such manner as complies with applicable requirements of the Depository); provided, that the Trustee shall
not select Securities for redemption which would result in a Holder of Securities with a principal amount of Securities less than the minimum denomination. The Trustee shall make the selection from outstanding Securities not previously called for
redemption. The Trustee may select for redemption portions of the principal of Securities that have denominations larger than $2,000. Securities and portions of them the Trustee selects shall be in amounts of $2,000 or a whole multiple of $1,000 in
excess thereof. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Issuers promptly (and in any event, within 5 Business Days following
receipt of the notice described in Section 3.03) of the Securities or portions of Securities to be redeemed. 
 SECTION 3.05. Notice
of Optional Redemption. 
 (a) At least 30 days but not more than 60 days before a redemption date pursuant to Paragraph 5 of the
applicable Security, the Issuers shall mail or cause to be mailed by first-class mail a notice of redemption to each Holder whose Securities are to be redeemed to such Holder’s registered address or otherwise in accordance with the procedures
of the Depository, except that redemption notices may be delivered more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Securities or a satisfaction and discharge of this Indenture pursuant to
Article 8 hereof. 
 Any such notice shall identify the Securities to be redeemed and shall state: 

(i) the redemption date; 

(ii) the redemption price and the amount of accrued interest to the redemption date; 

(iii) the name and address of a Paying Agent; 

(iv) that Securities called for redemption must be surrendered to a Paying Agent to collect the redemption price, plus accrued
interest; 
 (v) if fewer than all the outstanding Securities are to be redeemed, the certificate numbers and principal
amounts of the particular Securities to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial redemption; 

(vi) that, unless the Issuers default in making such redemption payment or any Paying Agent is prohibited from making such
payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; 

(vii) the CUSIP number, ISIN and/or “Common Code” number, if any, printed on the Securities being redeemed; and 

(viii) that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN and/or “Common
Code” number, if any, listed in such notice or printed on the Securities. 

  
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 In addition, if such redemption is subject to satisfaction of one or more conditions precedent,
such notice of redemption shall describe each such condition, and if applicable, shall state that, in the Issuers’ discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such
redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the stated redemption date, or by the redemption date as so delayed. 

(b) At the Issuers’ request, the Trustee shall give the notice of redemption specified in this Section 3.05 in the Issuers’
names and at the Issuers’ expense; provided, however, that the Issuers have delivered to the Trustee, at least 45 days (unless a shorter period is acceptable to the Trustee) prior to the redemption date, an Officers’
Certificate requesting that the Trustee give such notice. In such event, the Issuers shall provide the Trustee in writing with the information required by this Section 3.05. 

SECTION 3.06. Effect of Notice of Redemption. Once notice of redemption is mailed in accordance with Section 3.05, Securities
called for redemption become due and payable on the redemption date and at the redemption price stated in the notice (except to the extent such redemption is conditional as set forth in Section 3.05). Upon surrender to any Paying Agent, such
Securities shall be paid at the redemption price stated in the notice, plus accrued interest to the redemption date. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice. 

SECTION 3.07. Deposit of Redemption Price. Prior to 12:00 p.m., New York City time, on the redemption date, the Issuers shall deposit
with the Paying Agent (or, if the Company or a Wholly Owned Subsidiary is a Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption price of and accrued interest on all Securities or portions thereof to be redeemed on
that date other than Securities or portions of Securities called for redemption that have been delivered by the Issuers to the Trustee for cancellation. On and after the redemption date, interest shall cease to accrue on Securities or portions
thereof called for redemption so long as the Issuers have deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, unless a Paying Agent is prohibited from making
such payment pursuant to the terms of this Indenture. 
 SECTION 3.08. Securities Redeemed in Part. Upon surrender of a Security that
is redeemed in part, the Issuers shall execute and the Trustee shall authenticate for the Holder (at the Issuers’ expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. 

SECTION 3.09. Special Mandatory Redemption. If (i) the Escrow Agent has not received the Initial Officers’ Certificate and/or
the Additional Officers’ Certificate, as applicable, described in the Escrow Agreement, on or prior to the applicable Escrow End Date, (ii) the Company notifies the Escrow Agent in writing that the (x) Company will not pursue the
consummation of the Safeway Acquisition and/or (y) the Merger Agreement has been terminated, (iii) the Company has delivered an Officers’ Certificate to the Escrow Agent stating it has determined that conditions to the Initial Escrow
Release Date cannot be satisfied by the applicable Escrow End Date or (iv) the Company fails to timely deposit (or cause to be timely deposited) any amounts required by the Escrow Agreement within 30 days following the applicable deposit date,
then the Escrow Agent shall, upon written direction from the Company, release the Escrowed Property (including investment earnings thereon and proceeds thereof) to the Trustee and the Trustee shall pay the amounts to the Paying Agent for payment to
the Holders of the Securities in redemption of the Securities (the “Special Mandatory Redemption”) on the fifth Business Day following the date of the release of the Escrowed Property to the Trustee (the “Special Mandatory
Redemption Date”) or as otherwise required by the applicable procedures of the Depository at a redemption price calculated 

  
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by the Company equal to 100% of the Issue Price of the Securities, plus accrued and unpaid interest to, but excluding, the Special Mandatory Redemption Date. On the Special Mandatory Redemption
Date, the Trustee will pay to Issuers any Escrowed Property in excess of the amount necessary to effect the Special Mandatory Redemption. 

SECTION 3.10. Safeway Notes Special Mandatory Redemption. To the extent the Initial Escrow Release Date has occurred, if fewer than
$645 million principal amount of Safeway Notes, other than the Rolled 2016/2017 Notes and Rolled 2027/2031 Notes, are repurchased or redeemed by the date that is 90 days after the date of the Safeway Acquisition, the Escrow Agent shall, upon
direction from the Issuers, release the remaining Escrowed Property (including investment earnings thereon and proceeds thereof) to the Trustee and the Trustee shall pay the amounts to the Paying Agent for payment to the Holders of the Securities in
redemption of a stated principal amount of the Securities equal to the principal amount of the Safeway Notes (other than the Rolled 2016/2017 Notes and Rolled 2027/2031 Notes) that have not been repurchased or redeemed by such date (but not in
excess of $645 million) (the “Safeway Notes Special Mandatory Redemption”) on the fifth Business Day following the date of the release of such Escrowed Property to the Trustee (the “Safeway Notes Special Mandatory Redemption
Date”) or as otherwise required by the applicable procedures of the Depository at a redemption price calculated by the Issuers equal to 100% of the Issue Price of the Securities to be redeemed (but not in excess of $645 million), plus
accrued and unpaid interest on the Securities in such principal amount to, but excluding, the Safeway Notes Special Mandatory Redemption Date. On the Safeway Notes Special Mandatory Redemption Date, the Trustee will pay to the Issuers, any Escrowed
Property in excess of the amount necessary to effect the Safeway Notes Special Mandatory Redemption. 
 SECTION 3.11. Safeway Series
Amendment Redemption. If the Company delivers to the Escrow Agent an Officers’ Certificate in the form of Exhibit B-1 to the Escrow Agreement (which Officers’ Certificate may be delivered at any time and from time to time, including
prior to the Initial Escrow Release Date), stating (i) that the Requisite Consents (as defined in the Offering Memorandum) to the Proposed Amendment (as defined in the Offering Memorandum) have been obtained with respect to the 2019 Notes, and
(ii) the stated principal amount of the 2019 Notes, then the Escrow Agent shall release Escrowed Property (including investment earnings thereon and proceeds thereof) to the Trustee in an amount (as calculated by the Issuers) equal to 100% of
the Issue Price of a stated principal amount of Securities equal to the stated principal amount of the 2019 Notes, plus accrued and unpaid interest on an equivalent amount of the Securities to, but excluding, the Safeway Series Amendment Redemption
Date, and the Trustee shall pay such amounts to the Paying Agent for payment to the Holders of the Securities in redemption of the Securities (the “Safeway Series Amendment Redemption”) on the fifth Business Day following the date
of the release of such Escrowed Property to the Trustee (the “Safeway Series Amendment Redemption Date”) or as otherwise required by the applicable procedures of the Depository at a redemption price calculated by the Issuers equal
to 100% of the Issue Price of the Securities to be redeemed, plus accrued and unpaid interest on such Securities to, but excluding, the Safeway Series Amendment Redemption Date. 

SECTION 3.12. Safeway Series Change of Control Tender Offer Redemption. If the Company delivers to the Escrow Agent an Officers’
Certificate in the form of Exhibit B-2 to the Escrow Agreement (which Officers’ Certificate may be delivered at any time after the Initial Escrow Release Date and thereafter from time to time), stating (i) that Safeway has made a Change of
Control Tender Offer with respect to a Series of Notes, (ii) that less than 100% of the stated principal amount of such Series of Notes will be repurchased pursuant to such Change of Control Tender Offer (the Securities under such Series of
Notes that will not be repurchased pursuant to such Change of Control Tender Offer, the “Designated Notes”), and (iii) the stated principal amount of the Designated Notes, then the Escrow Agent shall release Escrowed Property
(including investment earnings thereon and proceeds thereof) to the Trustee 

  
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in an amount (as calculated by the Issuers) equal to 100% of the Issue Price of a stated principal amount of Securities equal to the stated principal amount of the Designated Notes plus accrued
and unpaid interest on an equivalent amount of such Securities to, but excluding, the Safeway Series Change of Control Tender Offer Redemption Date and the Trustee shall pay such amounts to the Paying Agent for payment to the Holders of the
Securities in redemption of the Securities (the “Safeway Series Change of Control Tender Offer Redemption”) on the fifth Business Day following the date of the release of such Escrowed Property to the Trustee (the “Safeway
Series Change of Control Tender Offer Redemption Date”) or as otherwise required by the applicable procedures of the Depository at a redemption price calculated by the Issuers equal to 100% of the Issue Price of the Securities to be
redeemed, plus accrued and unpaid interest on such Securities to, but excluding, the Safeway Series Change of Control Tender Offer Redemption Date. 

SECTION 3.13. Notice of Mandatory Redemption. In connection with a redemption of Securities pursuant to Sections 3.09 through 3.12, the
Issuers shall (at least five Business Days prior to the date set for redemption or, in the case of Global Securities, such other time as is permitted or required by the Depositary) send a notice of redemption to each Holder whose Securities are to
be redeemed (with a copy to the Trustee) to such Holder’s registered address or otherwise in accordance with the procedures of the Depository. Any such notice shall identify the Securities to be redeemed and shall state the information required
pursuant to Section 3.05. 
 ARTICLE 4 

COVENANTS 
 SECTION 4.01.
Payment of Securities. The Issuers shall promptly pay the principal of and interest, on the Securities on the dates and in the manner provided in the Securities and in this Indenture. An installment of principal of or interest shall be
considered paid on the date due if by the applicable time on such date the Trustee or any Paying Agent holds in accordance with this Indenture money sufficient to pay all principal and interest then due and the Trustee or any Paying Agent, as the
case may be, are not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture. 
 The Issuers
shall pay interest on overdue principal at the rate specified therefor in the Securities, and they shall pay interest on overdue installments of interest at the same rate borne by the Securities to the extent lawful. 

SECTION 4.02. Reports and Other Information. 

So long as any Securities are outstanding: 

(i) the Company shall provide the Trustee and Holders of Securities with annual consolidated financial statements audited by an
internationally recognized firm of independent public accountants within 120 days after the end of the Company’s fiscal year and unaudited quarterly financial statements (including a balance sheet, statement of operations and statement of cash
flows for the fiscal quarter and year-to-date period then ended and the corresponding fiscal quarter and year-to-date period from the prior year) within 60 days of the end of each of the first three fiscal quarters of each fiscal year. Such annual
and quarterly financial statements will (i) be prepared in accordance with GAAP (with the exception of the absence of year-end adjustments and footnotes in the case of quarterly financial statements) and (ii) be accompanied by a
“management discussion and analysis” of the results of operations of the Company and its Subsidiaries on a consolidated basis for the periods presented in a level of detail comparable (in the reasonable

  
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judgment of the Company) to the management discussion and analysis of the results of operations of the Company contained in the Offering Memorandum. Unless otherwise publicly available, such
financial statements and related discussion shall be made available to Holders of Securities and prospective investors in the Securities by posting on a password protected website accessible by all such persons, which shall announce when such items
have been posted (it being understood that the Company may require a certification and customary non-disclosure agreement to access such site); and 

(ii) the Company shall furnish to the Trustee and Holders of Securities all information that would be required to be contained
in filings with the SEC on Form 8-K under Items 1.01, 1.02, 1.03, 2.01, 2.05, 2.06, 4.01, 4.02 and 5.01 (but excluding, for the avoidance of doubt, financial statements and exhibits that would be required pursuant to Item 9.01 of Form
8-K, other than financial statements and pro forma financial information required pursuant to clauses (a) and (b) of Item 9.01 of Form 8-K (in each case relating to transactions required to be reported pursuant to Item 2.01 of
Form 8-K) to the extent available (as determined by the Company in good faith, which determination shall be conclusive)) if the Company had been a reporting company under the Exchange Act; provided, however, that no such report will be
required to be furnished if the Company determines in its good faith judgment (which determination shall be conclusive) that such event is not material to Holders of the Securities or the business, assets, operations, financial position or prospects
of the Company and its Subsidiaries, taken as a whole, or if the Company determines in its good faith judgment (which determination shall be conclusive) that such disclosure would otherwise cause material competitive or other material harm to the
business, assets, operations, financial position or prospects of the Company and its Subsidiaries, taken as a whole; provided that such non-disclosure shall be limited only to those specific provisions that would cause material competitive or
other material harm and not the occurrence of the event itself; provided, further, that no such report will be required to include a summary of the terms of any employment or compensatory arrangement, agreement, plan or understanding
between the Company (or any of its Subsidiaries) and any director, manager or executive officer, of the Company (or any of its Subsidiaries). All information to be furnished pursuant to this clause (ii) shall be furnished within the time
periods specified in the SEC’s rules and regulations for non-accelerated filer reporting companies under the Exchange Act. Information to be furnished pursuant to this clause (ii) shall be made by posting on the website referred to in
clause (i) above. 
 So long as any Securities are outstanding, the Company shall also issue a notification (which can be a notification
through the website described above or by email to registered Holders of Securities) upon the posting of the information required by clauses (i) and (ii) above. 

The Company shall hold a conference call for the Holders of Securities to discuss such financial information described in clause (i)
above no later than 10 calendar days after posting the annual financial information and the quarterly financial information described in clause (i) above. The Company will issue a notification (which can be a notification through the website
described above or by email to registered Holders of Securities) of any such conference call at least three Business Days in advance. 
 In
addition, to the extent not satisfied by the information referred to in the first paragraph above, the Company shall furnish to Holders of Securities, securities analysts and prospective investors in the Securities, upon their request, any
information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. Delivery of such reports, information and documents to the Trustee pursuant to the foregoing is for informational purposes only, and the Trustee’s
receipt thereof 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 under this Indenture (as to which the
Trustee is entitled to rely upon certificates). 

  
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 SECTION 4.03. Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and
Preferred Stock. 
 (a) (i) The Company shall not, and shall not permit any of the Restricted Subsidiaries to, directly or
indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii) the Company shall not permit any of the Restricted Subsidiaries to issue any shares of Preferred Stock; provided,
however, that the Company and any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred Stock, in each case if the Fixed
Charge Coverage Ratio of the Company for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified
Stock or Preferred Stock is issued would have been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified
Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period; provided, further, that Restricted Subsidiaries that are not Guarantors
may not Incur Indebtedness or issue shares of Disqualified Stock or Preferred Stock pursuant to this Section 4.03(a) if, after giving pro forma effect to such Incurrence or issuance (including the pro forma application of the net proceeds
therefrom), the aggregate principal amount of Indebtedness or Disqualified Stock or Preferred Stock then outstanding of Restricted Subsidiaries that are not Guarantors pursuant to this Section 4.03(a) exceeds the greater of $800 million and
3.5% of Total Assets (the “Non-Guarantor Exception”). 
 (b) The limitations set forth in Section 4.03(a) shall not
apply to (collectively, “Permitted Debt”): 
 (i) the Incurrence by the Company or any Restricted Subsidiary
of Indebtedness under the ABL Facility and the issuance and creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount
thereof and Hedging Obligations and bank product and cash management obligations being excluded) up to an aggregate principal amount not to exceed at any time the greater of (x) $3,750 million and (y) the Borrowing Base (measured at the
time of incurrence thereof); 
 (ii) the Incurrence by the Company or the Restricted Subsidiaries of Indebtedness under the
Term Loan Facility up to an aggregate principal amount outstanding at any time that does not exceed the sum of (A) $7.5 billion plus (B) an additional amount after all amounts have been Incurred under clause (A) above, if after giving
effect to the Incurrence of such amount and application of the proceeds therefrom, on a pro forma basis, the Senior Secured First Lien Indebtedness Leverage Ratio would not exceed 3.75 to 1.00 less (C) the amount of Indebtedness incurred under
clause (xxviii) below; 
 (iii) the Incurrence by the Issuers and the Subsidiary Guarantors of Indebtedness represented
by the Original Securities and the Subsidiary Guarantees, as applicable; 
 (iv) Indebtedness, Disqualified Stock and
Preferred Stock existing on the Initial Escrow Release Date (other than Indebtedness described in clauses (i), (ii) and (iii) of this Section 4.03(b)), including any Indebtedness being repaid with the proceeds of the offering as
described in the Offering Memorandum; 

  
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 (v) Indebtedness (including, without limitation, Capitalized Lease Obligations,
and purchase money Indebtedness), Disqualified Stock and Preferred Stock Incurred by the Company or any of the Restricted Subsidiaries to finance the acquisition, purchase, lease, construction, design, installation or improvement of property (real
or personal), equipment or other asset that is used or useful in a Similar Business (whether through the direct purchase of assets or the Capital Stock of any Person owning such assets) and related taxes and transaction costs in an aggregate
principal amount which, when aggregated with the principal amount of all other Indebtedness then outstanding that was Incurred pursuant to this clause (v), does not exceed the greater of (x) $750 million and (y) 3.25% of Total Assets
at the time of Incurrence; 
 (vi) Indebtedness with respect to all obligations and liabilities, contingent or otherwise, in
respect of letters of credit, acceptances and similar facilities incurred in the ordinary course of business, including, without limitation, letters of credit and bank guarantees issued in the ordinary course of business, including, without
limitation, letters of credit in respect of workers’ compensation claims, health, disability or other employee benefits (whether current or former) or property, casualty or liability insurance, or other Indebtedness with respect to
reimbursement-type obligations regarding workers’ compensation claims; provided, however, that upon the drawing of such letters of credit, such obligations are reimbursed within 30 days following such drawing; 

(vii) Indebtedness arising from agreements of the Company or a Restricted Subsidiary providing for indemnification, adjustment
of purchase price, earn-out or similar obligations, in each case, Incurred in connection with any acquisition or disposition of any business, assets or a Subsidiary of the Company or assumed, other than guarantees of Indebtedness Incurred by any
Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; 

(viii) Indebtedness of the Company to a Restricted Subsidiary; provided that any subsequent issuance or transfer of any
Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary) shall be
deemed, in each case to be an Incurrence of such Indebtedness; 
 (ix) shares of Preferred Stock of a Restricted Subsidiary
issued to the Company or another Restricted Subsidiary; provided that any subsequent issuance or transfer of any Capital Stock or any other event that results in any Restricted Subsidiary that holds such shares of Preferred Stock of another
Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock (except to the Company or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of
Preferred Stock; 
 (x) Indebtedness of a Restricted Subsidiary to the Company or another Restricted Subsidiary;
provided that if a Subsidiary Guarantor Incurs such Indebtedness to a Restricted Subsidiary that is not a Subsidiary Guarantor such Indebtedness is subordinated in right of payment to the Subsidiary Guarantee of such Subsidiary Guarantor;
provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary lending such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent
transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; 

(xi) [intentionally omitted]; 

  
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 (xii) obligations in respect of self-insurance and obligations (including
reimbursement obligations with respect to letters of credit and bank guarantees) in respect of performance, bid, appeal and surety bonds and similar instruments and performance and completion guarantees and similar obligations provided by the
Company or any Restricted Subsidiary, in each case, incurred in the ordinary course of business; 
 (xiii) Indebtedness or
Disqualified Stock of the Company or any Restricted Subsidiary of the Company and Preferred Stock of any Restricted Subsidiary of the Company in an aggregate principal amount which, when aggregated with the principal amount or liquidation preference
of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and Incurred pursuant to this clause (xiii) (and any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings,
extensions, renewals or replacements) as a whole, or in part, of any such obligations), does not exceed the greater of (x) $1.0 billion and (y) 4.50% of Total Assets at the time of Incurrence; provided, however, that notwithstanding
the foregoing, nothing contained herein shall prevent the Company or any Restricted Subsidiary from refinancing, refunding, extending, renewing or replacing any obligations Incurred under this clause (whether or not such obligations could be newly
Incurred under this clause on the date of such refinancing, refunding, extension, renewal or replacement), so long as the obligations resulting from such refinancing, refunding, extension, renewal or replacement do not exceed the sum of (A) the
outstanding principal amount or, if greater, committed amount of such obligations at the time such obligations became Permitted Debt under this Indenture, plus accretion of original issue discount, and (B) an amount necessary to pay any fees
and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement (it being understood that any Indebtedness, Disqualified Stock or Preferred Stock Incurred or issued under this clause (xiii) shall
cease to be deemed Incurred or outstanding for purposes of this clause (xiii) but shall be deemed Incurred for purposes of Section 4.03(a) from and after the first date on which the Company or the Restricted Subsidiary, as the case may be,
could have Incurred or issued such Indebtedness, Disqualified Stock or Preferred Stock under Section 4.03(a) without reliance upon this clause (xiii)); 

(xiv) any guarantee or co-issuance by the Company or a Restricted Subsidiary of Indebtedness or other obligations of the
Issuers or any of its Restricted Subsidiaries so long as the Incurrence of such Indebtedness or other obligations by the Issuers or such Restricted Subsidiary is not prohibited under the terms of this Indenture; provided that if such
Indebtedness is by its express terms subordinated in right of payment to the Securities or the Subsidiary Guarantee of such Restricted Subsidiary, as applicable, any such guarantee or co-issuance of such Subsidiary Guarantor with respect to such
Indebtedness shall be subordinated in right of payment to such Subsidiary Guarantor’s Subsidiary Guarantee with respect to the Securities substantially to the same extent as such Indebtedness is subordinated to the Securities or the Subsidiary
Guarantee of such Restricted Subsidiary, as applicable; 
 (xv) the Incurrence by the Company or any of its Restricted
Subsidiaries of Indebtedness or Disqualified Stock or Preferred Stock of a Restricted Subsidiary of the Company which serves to refund, refinance, replace, renew, extend or defease any Indebtedness, Disqualified Stock or Preferred Stock Incurred as
permitted under Section 4.03(a) and clauses (iii), (iv), (v), (xv) and (xvi) of this Section 4.03(b) or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund or refinance such Indebtedness,
Disqualified Stock or Preferred Stock, including any Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including lender premiums), defeasance costs, accrued interest, fees and expenses in connection therewith (subject to
the following proviso, “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing Indebtedness: 

(1) has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is Incurred which is not less than the
remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded or refinanced, replaced, renewed, extended or defeased; 

  
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 (2) has a Stated Maturity which is no earlier than the earlier of (i) the
Stated Maturity of the Indebtedness being refunded or refinanced and (ii) one year after the Stated Maturity of the Securities; 

(3) to the extent such Refinancing Indebtedness refinances (x) Indebtedness junior to the Securities or the Subsidiary
Guarantee of such Restricted Subsidiary, as applicable, such Refinancing Indebtedness is junior to the Securities or the Subsidiary Guarantee of such Restricted Subsidiary, as applicable or (y) Disqualified Stock or Preferred Stock, such
Refinancing Indebtedness is Disqualified Stock or Preferred Stock; 
 (4) is Incurred in an aggregate principal amount (or if
issued with original issue discount, an aggregate issue price) that is equal to or less than the aggregate principal amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being
refinanced plus premium and fees Incurred in connection with such refinancing; and 
 (5) shall not include
(x) Indebtedness of a Restricted Subsidiary of the Company that is not a Subsidiary Guarantor that refinances Indebtedness of the Company or a Guarantor, or (y) Indebtedness of the Company or a Restricted Subsidiary that refinances
Indebtedness of an Unrestricted Subsidiary; 
 (xvi) Indebtedness, Disqualified Stock or Preferred Stock of Persons that are
acquired by the Company or any of its Restricted Subsidiaries or merged into the Company or a Restricted Subsidiary in accordance with the terms of this Indenture; provided, however, that such Indebtedness, Disqualified Stock or
Preferred Stock is not Incurred in contemplation of such acquisition or merger or to provide all or a portion of the funds or credit support required to consummate such acquisition or merger; provided, further, however, that
after giving effect to such acquisition and the Incurrence of such Indebtedness either: 
 (1) the Company would be permitted
to Incur at least $1.00 of additional Indebtedness pursuant to Section 4.03(a); 
 (2) the Fixed Charge Coverage Ratio
would not be less than immediately prior to such acquisition; or 
 (3) such Indebtedness is Incurred by an Issuer or a
Guarantor and does not require the payment in cash of principal (other than in respect of working capital adjustments) prior to the Stated Maturity of the Securities, has a final maturity which extends beyond the Stated Maturity of the Securities,
and is subordinated to the Securities; 
 (xvii) Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business; provided that such Indebtedness is extinguished within ten Business Days of its Incurrence; 

  
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 (xviii) Indebtedness of the Company or any Restricted Subsidiary supported by a
letter of credit or bank guarantee issued pursuant to any Credit Agreement, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; 

(xix) Contribution Indebtedness; 

(xx) Indebtedness of the Company or any Restricted Subsidiary consisting of (x) the financing of insurance premiums or
(y) take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; 
 (xxi)
Indebtedness of Foreign Subsidiaries of the Company in an amount not to exceed the greater of (x) $500 million or (y) 2.25% of Total Assets of all Foreign Subsidiaries at the time of such Incurrence; 

(xxii) [intentionally omitted]; 

(xxiii) Indebtedness of the Company or any Restricted Subsidiary Incurred in the ordinary course of business under guarantees
of Indebtedness of suppliers, licensees, franchisees or customers in an aggregate amount not to exceed $150 million at any one time outstanding; 

(xxiv) to the extent constituting Indebtedness, obligations in respect of (A) customer deposits and advance payments
received in the ordinary course of business, (B) letters of credit, bankers’ acceptances, guarantees or other similar instruments or obligations issued or relating to liabilities or obligations Incurred in the ordinary course of business
and (C) any customary cash management, cash pooling or netting or setting off arrangements or automatic clearinghouse arrangements in the ordinary course of business; 

(xxv) [intentionally omitted]; 

(xxvi) Indebtedness to current or former officers, managers, consultants, directors and employees, their respective estates,
spouses or former spouses to finance the purchase or redemption of Equity Interests of the Company or any other direct or indirect parent of the Company permitted by this Indenture; 

(xxvii) Indebtedness in connection with a Qualified Receivables Financing; and 

(xxviii) Indebtedness in connection with a Qualified Real Estate Financing Facility. 

(c) For purposes of determining compliance with this Section 4.03, in the event that an item of Indebtedness, Disqualified Stock or
Preferred Stock meets the criteria of more than one of the categories of Permitted Debt or is entitled to be Incurred pursuant to Section 4.03(a), the Company shall, in its sole discretion, divide, classify or reclassify, or later divide,
classify or reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock in any manner that complies with this Section 4.03 and such item of Indebtedness, Disqualified Stock or Preferred Stock shall be treated as having been
Incurred pursuant to only one of the clauses in Section 4.03(b) or pursuant to Section 4.03(a), but may be Incurred partially under one clause and partially under one or more other clauses; provided that all Indebtedness under the
ABL Facility which is in existence or committed to on or prior to the Initial Escrow Release Date and the Indebtedness under the Term Loan Facility outstanding or committed to on or prior to the 

  
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Initial Escrow Release Date, in each case, shall be deemed to have been Incurred on the Initial Escrow Release Date pursuant to clauses (i) and (ii) respectively, of
Section 4.03(b) and the Issuers shall not be permitted to reclassify all or any portion of such Indebtedness. Accrual of interest, the accretion of accreted value, the amortization or accretion of original issue discount, the payment of
interest in the form of additional Indebtedness with the same terms, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, the accretion of liquidation preference and increases in the
amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies shall not be deemed to be an Incurrence of Indebtedness for purposes of this Section 4.03. Guarantees of, or obligations in respect of
letters of credit, bankers’ acceptances or similar instruments relating to, or Liens securing, Indebtedness which are otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of
such amount of Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section 4.03. Indebtedness that is cash collateralized shall
not be deemed to be Indebtedness hereunder to the extent of such cash collateralization. The principal amount of any Disqualified Stock or Preferred Stock will be equal to the greater of the maximum mandatory redemption or repurchase price (not
including, in either case, any redemption or repurchase premium) or the liquidation preference thereof. 
 (d) For purposes of determining
compliance with any U.S. dollar-denominated restriction on the Incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate
in effect on the date such Indebtedness was Incurred, in the case of term debt, or first committed or first Incurred (whichever yields the lower U.S. dollar equivalent), in the case of revolving credit debt; provided that if such Indebtedness
is Incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the
date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced.

 SECTION 4.04. Limitation on Restricted Payments. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly: 

(i) declare or pay any dividend or make any distribution on account of the Company’s or any of its Restricted
Subsidiaries’ Equity Interests, including any payment made in connection with any merger or consolidation involving the Company (other than (A) dividends, payments or distributions by the Company payable solely in Equity Interests (other
than Disqualified Stock) of the Company or in options, warrants or other rights to purchase such Equity Interests; or (B) dividends, payments or distributions by a Restricted Subsidiary so long as, in the case of any dividend, payment or
distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary of the Company, the Company or a Restricted Subsidiary receives at least its pro rata share
of such dividend or distribution in accordance with its Equity Interests in such class or series of securities); 
 (ii)
purchase or otherwise acquire or retire for value any Equity Interests of the Company or any direct or indirect parent company of the Company held by any Person other than the Company or a Restricted Subsidiary; 

  
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 (iii) make any principal payment on, or redeem, repurchase, defease or otherwise
acquire or retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness (other than the payment, redemption, repurchase, defeasance, acquisition or retirement of (A) Subordinated
Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition or retirement and
(B) Indebtedness permitted under clauses (viii) and (x) of Section 4.03(b)); or 
 (iv) make any
Restricted Investment 
 (all such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as
“Restricted Payments”), unless, at the time of such Restricted Payment: 
 (i) no Default or Event of
Default shall have occurred and be continuing or would occur as an immediate consequence thereof; 
 (ii) immediately after
giving effect to such transaction on a pro forma basis, the Company could Incur $1.00 of additional Indebtedness under Section 4.03(a); and 

(iii) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its
Restricted Subsidiaries after the Initial Escrow Release Date and not returned or rescinded (including Restricted Payments permitted by clauses (i) and (xiii)(B) of Section 4.04(b), but excluding all other Restricted Payments permitted by
Section 4.04(b)), is less than the sum of, without duplication, 
 (A) 50% of the Consolidated Net Income of the Company
for the period (taken as one accounting period) beginning on the first day of the first fiscal quarter after the Issue Date to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at
the time of such Restricted Payment (or, in the case such Consolidated Net Income for such period is a deficit, minus 100% of such deficit), plus 

(B) 100% of the aggregate net proceeds, including cash and the Fair Market Value of property other than cash, received by the
Company after the Issue Date from the issue or sale of Equity Interests of the Company or any direct or indirect parent company of the Company (excluding (without duplication) Refunding Capital Stock, Designated Preferred Stock, Cash Contribution
Amount, Excluded Contributions and Disqualified Stock), including Equity Interests issued upon conversion of Indebtedness or upon exercise of warrants or options (other than an issuance or sale to a Subsidiary of the Company or an employee stock
ownership plan or trust established by the Company or any of its Subsidiaries to the extent funded by the Company or any of its Restricted Subsidiaries), plus 

(C) 100% of the aggregate amount of contributions to the capital of the Company received in cash and the Fair Market Value of
property other than cash after the Issue Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, Disqualified Stock and the Cash Contribution Amount), plus 

(D) the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the case may
be, of any Disqualified Stock, of the Company or any Restricted Subsidiary thereof issued after the Issue Date (other than Indebtedness 

  
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or Disqualified Stock issued to a Restricted Subsidiary) which has been converted into or exchanged for Equity Interests in the Company or any direct or indirect parent of the Company (other than
Disqualified Stock), plus the amount of any cash and the Fair Market Value of any property received by the Company or such Restricted Subsidiary in connection with such exchange, plus 

(E) 100% of the aggregate amount received by the Company or any Restricted Subsidiary in cash and the Fair Market Value of
property other than cash received by the Company or any Restricted Subsidiary from: 
 (I) the sale or other disposition
(other than to the Company or a Restricted Subsidiary of the Company) of Restricted Investments or Permitted Investments made by the Company and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments or
Permitted Investments from the Company and its Restricted Subsidiaries by any Person (other than the Company or any of its Subsidiaries) and from repayments of loans or advances which constituted Restricted Investments (other than in each case to
the extent that the Restricted Investment was made pursuant to clause (vii) or (x) of Section 4.04(b)), 

(II) the sale (other than to the Company or a Restricted Subsidiary of the Company) of the Capital Stock of an Unrestricted
Subsidiary, or 
 (III) a distribution or dividend from an Unrestricted Subsidiary, plus 

(F) in the event any Unrestricted Subsidiary of the Company has been redesignated as a Restricted Subsidiary or has been merged
or consolidated with or into, or transfers or conveys its assets to, or is liquidated into, the Company or a Restricted Subsidiary of the Company, in each case after the Issue Date, the Fair Market Value of the Investment of the Company in such
Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after deducting any Indebtedness associated with the Unrestricted Subsidiary so designated or combined or
any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the Investment in the Unrestricted Subsidiary was made pursuant to clause (vii) or (x) of Section 4.04(b)). 

(b) The provisions of Section 4.04(a) shall not prohibit: 

(i) the payment of any dividend or distribution or the consummation of any irrevocable redemption within 60 days after the date
of declaration thereof or the giving of such irrevocable notice, as applicable, if at the date of declaration such payment or the giving of such notice would have complied with the provisions of this Indenture (assuming in the case of a redemption
payment, the giving of such notice would have been deemed a Restricted Payment at such time and such deemed Restricted Payment would have been permitted at such time); 

(ii) (A) the redemption, repurchase, retirement or other acquisition of any Equity Interests (“Retired Capital
Stock”) of the Company or any direct or indirect parent of the Company or Subordinated Indebtedness of the Issuers or any Subsidiary Guarantor in exchange for (including any such exchange pursuant to the exercise of a conversion right or
privilege in connection with which cash is paid in lieu of fractional shares), or out of the proceeds of the substantially concurrent sale of, Equity Interests of the Company or any direct or indirect parent company of

  
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the Company or contributions to the equity capital of the Company (other than any Disqualified Stock or any Equity Interests sold to a Restricted Subsidiary of the Company or to an employee stock
ownership plan or any trust established by the Company or any of its Restricted Subsidiaries to the extent funded by the Company and its Restricted Subsidiaries) (collectively, including any such contributions, “Refunding Capital
Stock”); and (B) the declaration and payment of accrued dividends on the Retired Capital Stock out of the proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company or to an employee stock ownership plan
or any trust established by the Company or any of its Subsidiaries) of Refunding Capital Stock; 
 (iii) the redemption,
defeasance, repurchase or other acquisition or retirement of (x) Subordinated Indebtedness of the Issuers or any Subsidiary Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of the
Issuers or any Subsidiary Guarantor or (y) Disqualified Stock of the Issuers or any Subsidiary Guarantor made in exchange for, or out of the proceeds of a substantially concurrent sale of, Disqualified Stock of the Issuers or any Subsidiary
Guarantor, in either case which constitutes Refinancing Indebtedness under Section 4.03(b)(xv); 
 (iv) the repurchase,
retirement or other acquisition (or dividends to any direct or indirect parent of the Company to finance any such repurchase, retirement or other acquisition) or retirement for value of Equity Interests of the Company or any direct or indirect
parent of the Company held by any future, present or former employee, director or consultant of the Company or any direct or indirect parent of the Company or any Subsidiary of the Company (or the relevant Person’s estate or beneficiary of such
Person’s estate) pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement; provided, however, that the aggregate amounts paid under this
clause (iv) do not exceed $85 million in any calendar year (with unused amounts in any calendar year being permitted to be carried over for succeeding calendar years up to a maximum of $60 million in the aggregate in any calendar year);
provided, further, however, that such amount in any calendar year may be increased by an amount not to exceed: 

(A) the cash proceeds received by the Company or any of its Restricted Subsidiaries from the sale of Equity Interests (other
than Disqualified Stock) of the Company or any direct or indirect parent of the Company (to the extent contributed to the Company) to employees, members of management, directors or consultants of the Company and its Restricted Subsidiaries or any
direct or indirect parent of the Company that occurs after the Initial Escrow Release Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend shall not increase the
amount available for Restricted Payments under Section 4.04(a)(3)); plus 
 (B) the cash proceeds of key man life
insurance policies received by the Company or any direct or indirect parent company of the Company (to the extent contributed to the Company) and its Restricted Subsidiaries after the Initial Escrow Release Date; 

(provided that the Company may elect to apply all or any portion of the aggregate increase contemplated by clauses (A) and
(B) above in any calendar year); and provided further that cancellation of Indebtedness owing to the Company or any Restricted Subsidiary from members of management, directors, employees or consultants of the Company, or any direct or
indirect parent company or Restricted Subsidiaries in connection with a repurchase of Equity Interests pursuant to this clause (iv) of the Company or any direct or indirect parent company will not be deemed to constitute a Restricted Payment);

  
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 (v) (a) the declaration and payment of dividends or distributions to holders
of any class or series of Disqualified Stock of the Company or Disqualified Stock or Preferred Stock of any of its Restricted Subsidiaries and (b) payment of any redemption price or liquidation value of any such Disqualified Stock or Preferred
Stock when due in accordance with its terms, in each case, Incurred in accordance with Section 4.03; 
 (vi) the
declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) issued after the Initial Escrow Release Date and the declaration and payment of dividends to any
direct or indirect parent company of the Company, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent
company of the Company issued after the Initial Escrow Release Date; provided, however, that (A) for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the
date of issuance of such Designated Preferred Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a pro forma basis, the Company would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00 and
(B) the aggregate amount of dividends declared and paid pursuant to this clause (vi) does not exceed the net cash proceeds actually received by the Company from any such sale of Designated Preferred Stock (other than Disqualified Stock)
issued after the Initial Escrow Release Date; 
 (vii) Investments in Unrestricted Subsidiaries having an aggregate Fair
Market Value, taken together with all other Investments made pursuant to this clause (vii) that are at that time outstanding, not to exceed the greater of (x) $675 million and (y) 3.0% of Total Assets at the time of such
Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); 

(viii) (a) the payment of dividends on the Company’s common stock (or the payment of dividends to any direct or
indirect parent of the Company to fund the payment by any direct or indirect parent of the Company of dividends on such entity’s common stock) of up to 6.0% per annum of the net proceeds received by the Company from any public offering of
common stock or contributed to the Company by any direct or indirect parent of the Company from any public offering of common stock or (b) in lieu of all or a portion of dividends permitted by clause (a) above, repurchases of Equity
Interests of the Company or any direct or indirect parent of the Company for aggregate consideration that, when taken together with dividends permitted under clause (a), does not exceed the amount contemplated by clause (a); 

(ix) Investments that are made with Excluded Contributions; 

(x) other Restricted Payments in an aggregate amount not to exceed the greater of (x) $750 million and (y) 3.25% of
Total Assets at the time of such Restricted Payment; 
 (xi) the distribution, as a dividend or otherwise, of shares of
Capital Stock of, or Indebtedness owed to the Company or a Restricted Subsidiary of the Company by, Unrestricted Subsidiaries or Excluded Assets; 

(xii) (A) with respect to any taxable period ending after the Initial Escrow Release Date for which the Company is treated as a
partnership for U.S. federal income tax purposes, distributions 

  
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to the Company’s equity owners in an aggregate amount equal to the product of (1) the taxable income of the Company’s for such taxable period, reduced by any cumulative net taxable
loss with respect to all prior taxable periods ending after the Initial Escrow Release Date (determined as if all such taxable periods were one taxable period) to the extent such cumulative net taxable loss would have been deductible by the partners
against such taxable income if such loss had been incurred in the taxable period in question (assuming that the partners have no items of income, gain, loss, deduction or credit other than through the Company) and (2) the highest combined
marginal U.S. federal, state and local income and Medicare tax rate applicable to any equity owner of the Company for such taxable period (taking into account the character of the taxable income in question (long term capital gain, qualified
dividend income, etc.) and the deductibility of state and local income taxes for U.S. federal income tax purposes (and any applicable limitation thereon)), and (B) with respect to any taxable period ending before the Initial Escrow Release Date
for which the Company was treated as a partnership for U.S. federal income tax purposes, distributions to the Company’s equity owners in an aggregate amount equal to the product of (1) any additional taxable income for such taxable period
resulting from a tax audit adjustment made after the Initial Escrow Release Date and (2) the highest combined marginal U.S. federal, state and local income tax rate applicable to any equity owner of the Company for such taxable period (taking
into account the character of the additional taxable income in question (long term capital gain, qualified dividend income, etc.) and the deductibility of state and local income taxes for U.S. federal income tax purposes (and any applicable
limitations thereon)) plus any penalties, additions to tax or interest that may be imposed as a result of such audit adjustment; 

(xiii) the payment of dividends, other distributions or other amounts by the Company to, or the making of loans to, any direct
or indirect parent, in the amount required for such parent to, if applicable: 
 (A) pay amounts equal to the amounts
required for any direct or indirect parent of the Company to pay fees and expenses (including franchise or similar taxes) required to maintain its corporate existence, customary salary, bonus and other benefits (including indemnification, insurance
and insurance premiums) payable to officers and employees of any direct or indirect parent of the Company, if applicable, and general corporate overhead expenses of any direct or indirect parent of the Company, if applicable, in each case to the
extent such fees, expenses, salaries, bonuses, benefits and indemnities are attributable to the ownership or operation of the Company, if applicable, and its Restricted Subsidiaries; 

(B) pay, if applicable, amounts equal to amounts required for any direct or indirect parent of the Company, if applicable, to
pay interest and/or principal on Indebtedness the proceeds of which have been permanently contributed to the Company or any of its Restricted Subsidiaries; and 

(C) pay customary and reasonable costs and expenses of financings, acquisitions or offerings of securities of any direct or
indirect parent of the Company that are not consummated; 
 (D) costs (including all professional fees and expenses) incurred
by any direct or indirect parent of the Company in connection with reporting obligations under or otherwise incurred in connection with compliance with applicable laws, rules or regulations of any governmental, regulatory or self-regulatory body or
stock exchange, this Indenture or any other agreement or instrument relating to Indebtedness of the Company or any Restricted Subsidiary; 

  
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 (E) expenses Incurred by any direct or indirect parent of the Company in
connection with any public offering or other sale of Capital Stock or Indebtedness: 
 (1) where the net proceeds of such
offering or sale are intended to be received by or contributed to the Company or a Restricted Subsidiary, 
 (2) in a
pro-rated amount of such expenses in proportion to the amount of such net proceeds intended to be so received or contributed, or 

(3) otherwise on an interim basis prior to completion of such offering so long as direct or indirect parent of the Company
shall cause the amount of such expenses to be repaid to the Company or the relevant Restricted Subsidiary out of the proceeds of such offering promptly if completed; 

(xiv) the payment of cash dividends or other distributions on the Company’s Capital Stock used to (or the making of loans
to any direct or indirect parent of the Company to) fund the payment of fees and expenses owed by the Company (or any direct or indirect parent company of the Company, as the case may be, or Restricted Subsidiaries of the Company) to Affiliates, in
each case to the extent permitted by Section 4.07; 
 (xv) repurchases of Equity Interests deemed to occur upon exercise
of stock options or warrants or other rights if such Equity Interests represent a portion of the exercise price of such options or warrants and payment in cash in lieu of the issuance of fractional shares; 

(xvi) purchases of receivables pursuant to a Receivables Repurchase Obligation in connection with a Qualified Receivables
Financing and the payment or distribution of Receivables Fees; 
 (xvii) the payment, purchase, redemption, defeasance or
other acquisition or retirement for value of Subordinated Indebtedness, Disqualified Stock or Preferred Stock of the Company and its Restricted Subsidiaries pursuant to provisions similar to those described under Section 4.06 and
Section 4.08; provided that, prior to or concurrently with such payment, purchase, redemption, defeasance or other acquisition or retirement for value, the Company (or a third party to the extent permitted by this Indenture) has made a
Change of Control Offer or Asset Sale Offer, as the case may be, with respect to the Securities as a result of such Change of Control or Asset Sale, as the case may be, and has repurchased all Securities validly tendered and not withdrawn in
connection with such Change of Control Offer or Asset Sale Offer, as the case may be; 
 (xviii) payments or distributions in
connection with the Transactions as contemplated by the Offering Memorandum; 
 (xix) the payment of dividends, other
distributions or other amounts to the Company used in connection with the termination of the LTIP Agreements; 
 (xx)
distributions pursuant to the PDC CVR Agreement and the Casa Ley CVR Agreement (each as defined in the Offering Memorandum); 

  
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 (xxi) distributions required in connection with a Qualified Real Estate Financing
Facility; and 
 (xxii) distributions or payments of Receivables Fees, sales contributions and other transfers of and
purchases of assets pursuant to repurchase obligations, in each case in connection with a Qualified Receivables Financing; 
 provided,
however, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (vi), (vii), (viii) and (x) of this Section 4.04(b), no Default or Event of Default shall have occurred and be
continuing or would occur as a consequence thereof. 
 (c) As of the Initial Escrow Release Date, all of the Company’s
Subsidiaries (other than captive insurance companies) shall be Restricted Subsidiaries. The Company shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the definition of “Unrestricted
Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be
deemed to be Restricted Payments or Permitted Investments in an amount determined as set forth in the last sentence of the definition of “Investments.” Such designation shall only be permitted if a Restricted Payment or Permitted
Investment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries shall not be subject to any of the restrictive covenants set forth in this
Indenture. 
 (d) For purposes of this Section 4.04, if any Investment or Restricted Payment would be permitted pursuant to one or more
provisions described above and/or one or more of the exceptions contained in the definition of “Permitted Investments,” the Company may classify such Investment or Restricted Payment in any manner that complies with this covenant and may
later reclassify any such Investment or Restricted Payment so long as the Investment or Restricted Payment (as so reclassified) would be permitted to be made in reliance on the applicable exception as of the date of such reclassification. 

SECTION 4.05. Dividend and Other Payment Restrictions Affecting Subsidiaries. The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 

(a) (i) pay dividends or make any other distributions to the Company or any of its Restricted Subsidiaries on its Capital
Stock; or (ii) pay any Indebtedness owed to the Company or any of its Restricted Subsidiaries; 
 (b) make loans or
advances to the Company or any of its Restricted Subsidiaries; or 
 (c) sell, lease or transfer any of its properties or
assets to the Company or any of its Restricted Subsidiaries; 
 except in each case for such encumbrances or restrictions existing under or by reason of:

 (i) contractual encumbrances or restrictions in effect or entered into on the Initial Escrow Release Date, including
pursuant to or in connection with the Credit Agreements; 

  
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 (ii) this Indenture, the Securities, the Subsidiary Guarantees and the Security
Documents; 
 (iii) applicable law or any applicable rule, regulation or order or required by any regulatory authority; 

(iv) any encumbrance or restriction pursuant to any agreement or other instrument of a Person or relating to any Capital Stock
or Indebtedness of a Person acquired (including by merger, consolidation or other combination) by the Company or any Subsidiary of such Person which was in existence at the time of such acquisition of such Person, or the designation of such Person
as a Restricted Subsidiary or assumed in connection with the acquisition of assets (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than
the Person, or the property or assets of the Person, so acquired or its Subsidiaries, as applicable; 
 (v) contracts or
agreements for the direct or indirect sale of assets or Equity Interests, including customary restrictions with respect to a Restricted Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of all or substantially all
the Capital Stock or assets of such Restricted Subsidiary; 
 (vi) any Secured Indebtedness permitted to be Incurred pursuant
to Sections 4.03 and 4.12 that limit the right of the debtor to dispose of or otherwise encumber the assets securing such Indebtedness; 

(vii) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary
course of business; 
 (viii) customary provisions in partnership agreements, limited liability company organizational
documents, joint venture agreements and other similar agreements entered into in the ordinary course of business; 
 (ix)
purchase money obligations and Capitalized Lease Obligations for property acquired in the ordinary course of business that impose restrictions of the nature discussed in clause (c) above on the property so acquired; 

(x) customary provisions contained in leases, licenses, contracts and other similar agreements in the ordinary course of
business that impose restrictions of the type described in clause (c) above on the property subject to such agreement and customary provisions restricting disposition of real property interests set forth in any reciprocal easement agreement;

 (xi) any encumbrance or restriction of a Receivables Subsidiary effected in connection with a Qualified Receivables
Financing; provided, however, that such restrictions apply only to such Receivables Subsidiary; 
 (xii) other
Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary of the Company that is Incurred subsequent to the Initial Escrow Release Date pursuant to Section 4.03; provided that such encumbrances and restrictions
contained in any agreement or instrument either (A) are not materially more restrictive than the encumbrances in effect on the Initial Escrow Release Date, or (B) will not materially affect the Issuers’ ability to make anticipated
principal or interest payment on the Securities (as determined by the Company in good faith); 

  
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 (xiii) any Restricted Investment not prohibited by Section 4.04 and any
Permitted Investment; 
 (xiv) restrictions or conditions contained in any trading, netting, operating, construction,
service, supply, purchase or other agreement to which the Company or any of its Restricted Subsidiaries is a party entered into in the ordinary course of business; provided that such agreement prohibits the encumbrance of solely the property
or assets of the Company or such Restricted Subsidiary that are the subject of such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other asset or property of the Company or such Restricted
Subsidiary or the assets or property of any other Restricted Subsidiary; and 
 (xv) any encumbrances or restrictions of the
type referred to in clauses (a), (b) and (c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations
referred to in clauses (i) through (xiv) above; provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Company,
no more restrictive as a whole with respect to such dividend and other restrictions than those contained in the dividend or other restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement
or refinancing. 
 For purposes of determining compliance with this Section 4.05, (i) the priority of any Preferred Stock in receiving dividends
or liquidating distributions prior to dividends or liquidating distributions being paid on ordinary shares shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances
made to the Company or a Restricted Subsidiary of the Company to other Indebtedness Incurred by the Company or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 

SECTION 4.06. Asset Sales. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make an Asset Sale, unless: 

(1) the Company or any of its Restricted Subsidiaries, as the case may be, receives consideration (including by way of relief
or by any other Person assuming responsibility for, any liabilities, contingent or otherwise) at the time of such Asset Sale at least equal to the Fair Market Value (as determined on the date the contractual obligation is entered into) of the assets
sold or otherwise disposed of; and 
 (2) except in the case of a Permitted Asset Swap, at least 75% of the consideration
therefor received by the Company or such Restricted Subsidiary, as the case may be, is in the form of Cash Equivalents; provided that the amount of: 

(i) any liabilities (as shown on the Issuers’ or such Restricted Subsidiary’s most recent balance sheet or in the
notes thereto) of the Issuers or any Restricted Subsidiary of the Company (other than liabilities that are by their terms subordinated to the Securities) that are assumed by the transferee of any such assets; 

(ii) any notes or other obligations or other securities or assets received by the Company or such Restricted Subsidiary of the
Company from such transferee that are converted by the Company or such Restricted Subsidiary of the Company into cash within 180 days of the receipt thereof (to the extent of the cash received); and 

(iii) any Designated Non-cash Consideration received by the Company or any of its Restricted Subsidiaries in such Asset Sale
having an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii) that is at that time outstanding, not to exceed the greater of (x) $750 million and
(y) 2.25% of Total Assets at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to
subsequent changes in value) 

  
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 shall each be deemed to be Cash Equivalents for the purposes of this Section 4.06(a). 

(b) Within 365 days after the Company or any Restricted Subsidiary of the Company’s receipt of the Net Cash Proceeds of any Asset
Sale, the Company or such Restricted Subsidiary of the Company may apply the Net Cash Proceeds from such Asset Sale, at its option: 

(i) to the extent such Net Cash Proceeds are from an Asset Sale of CF Debt Priority Collateral, to repay either
(A) Obligations under the First Lien Obligations, (B) Obligations under the Securities or (C) Second Lien Obligations (other than the Securities) (and in the case of revolving obligations, to correspondingly reduce commitments with
respect thereto); provided that in the case of any repayment pursuant to clause (C), the Company or such Restricted Subsidiary will reduce Obligations under the Securities on an equal or ratable basis with any Second Lien Obligations repaid
pursuant to clause (C) (1) on a pro rata basis as provided under Article 3 hereof, (2) through open-market purchases (to the extent such purchases are at or above 100% of the principal amount thereof) or (3) by making an offer
(in accordance with the procedures set forth below for an Asset Sale Offer) to all Holders to purchase their Securities at 100% of the principal amount thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Securities that
would otherwise be prepaid (which offer shall be deemed to be an Asset Sale Offer for purposes hereof); provided, that the Net Cash Proceeds from an Asset Sale of Collateral other than Safeway Collateral shall not be applied to the Remaining
2020/2021 Notes or Rolled 2027/2031 Notes; 
 (ii) to the extent such Net Cash Proceeds are from an Asset Sale of ABL
Priority Collateral, to repay either (A) Obligations under the ABL Facility, (B) Obligations under the First Lien Obligations, (C) Obligations under the Securities or (D) Second Lien Obligations (other than the Securities) (and
in the case of revolving obligations, to correspondingly reduce commitments with respect thereto); provided that in the case of any repayment pursuant to clause (D), the Company or such Restricted Subsidiary will reduce Obligations under the
Securities on an equal or ratable basis with any Second Lien Obligations repaid pursuant to clause (C) (1) on a pro rata basis as provided under Article 3 hereof, (2) through open-market purchases (to the extent such purchases are at
or above 100% of the principal amount thereof) or (3) by making an offer (in accordance with the procedures set forth below for an Asset Sale Offer) to all Holders to purchase their Securities at 100% of the principal amount thereof, plus the
amount of accrued but unpaid interest, if any, on the amount of Securities that would otherwise be prepaid (which offer shall be deemed to be an Asset Sale Offer for purposes hereof); provided, that the Net Cash Proceeds from an Asset Sale of
Collateral other than Safeway Collateral shall not be applied to the Remaining 2020/2021 Notes or Rolled 2027/2031 Notes; 

  
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 (iii) if the assets that are the subject of such Asset Sale do not constitute
Collateral, to repay either (A) Obligations under the First Lien Obligations, (B) Obligations under the Securities or (C) Obligations under any other senior Indebtedness (and in the case of revolving obligations, to correspondingly
reduce commitments with respect thereto); provided that in the case of any repayment pursuant to clause (C), the Issuers or such Restricted Subsidiary will reduce Obligations under the Securities on an equal or ratable basis with the
Obligations under any senior Indebtedness repaid pursuant to clause (C) (1) on a pro rata basis as provided under Article 3 hereof, (2) through open-market purchases (to the extent such purchases are at or above 100% of the 100% of
the principal amount thereof) or (3) by making an offer (in accordance with the procedures set forth below for an Asset Sale Offer) to all Holders to purchase their Securities at 100% of the principal amount thereof, plus the amount of accrued
but unpaid interest, if any, on the amount of Securities that would otherwise be prepaid (which offer shall be deemed to be an Asset Sale Offer for purposes hereof); and/or 

(iv) to acquire Additional Assets; 

provided that in the case of clause (iv) above, a binding commitment (whether or not subject to conditions) shall be treated as a permitted
application of the Net Cash Proceeds from the date of such commitment and, in the event such binding commitment is later canceled or terminated for any reason before such Net Cash Proceeds are so applied, the Company or such Restricted Subsidiary
enters into another binding commitment (whether or not subject to conditions) within six months of such cancellation or termination of the prior binding commitment. 

Pending the final application of any such Net Cash Proceeds, the Company or such Restricted Subsidiary of the Company may temporarily reduce
Indebtedness under a revolving credit facility, if any, or otherwise use such Net Cash Proceeds for any purpose not prohibited by this Indenture. Any Net Cash Proceeds from any Asset Sale that are not applied as provided and within the time period
set forth in the first sentence of this Section 4.06(b) shall be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds (i) $100.0 million, in the case of a single transaction or a
series of related transactions, or (ii) $200.0 million aggregate amount in any fiscal year, the Issuers shall make an offer (an “Asset Sale Offer”) to all Holders of Securities and to all holders of any other Additional Second
Lien Obligations containing provisions similar to those set forth in this Indenture with respect to Asset Sales, to purchase the maximum principal amount of such Securities and such other Additional Second Lien Obligations, as appropriate, that may
be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof (or in the event such other Indebtedness was issued with original issue discount, 100% of the principal amount thereof),
plus accrued and unpaid interest, if any (or such lesser price, if any, as may be provided by the terms of such other Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in this
Section 4.06 and, in the case of Securities, is in a minimum amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Issuers shall commence an Asset Sale Offer with respect to Excess Proceeds within ten Business Days after the
date that Excess Proceeds exceed (i) $100.0 million, in the case of a single transaction or a series of related transactions, or (ii) $200.0 million aggregate amount in any fiscal year by sending the notice required pursuant to the terms
of Section 4.06(f), with a copy to the Trustee. If the aggregate principal amount of Securities or the other Second Lien Obligations surrendered by such Holders and holders thereof exceeds the amount of Excess Proceeds, the Issuers shall select
the Securities and such other Second Lien Obligations to be purchased on a pro rata basis based on the principal amount of the Securities or such other Second Lien Obligations tendered. Upon completion of any such Asset Sale Offer, the amount of
Excess Proceeds shall be reset at zero, and in the case of an Asset Sale Offer being effected in advance of being required to do so by this Indenture, the amount of Net Cash Proceeds the Issuers are offering to apply in such Asset Sale Offer shall
be excluded in subsequent calculations of Excess Proceeds. 

  
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 (c) The Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations to the extent such laws or regulations are applicable in connection with the repurchase of the Securities pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations
conflict with the provisions of this Indenture, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. 

(d) Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the Company shall
deliver to the Trustee an Officers’ Certificate as to (i) the amount of the Excess Proceeds, (ii) the allocation of the Net Cash Proceeds from the Asset Sale (or Asset Sales) pursuant to which such Asset Sale Offer is being made and
(iii) the compliance of such allocation with the provisions of Section 4.06(b). Upon the expiration of the period for which the Asset Sale Offer remains open (the “Offer Period”), the Company shall deliver to the Trustee
for cancellation the Securities or portions thereof that have been properly tendered to and are to be accepted by the Company. On such date, the Company shall also irrevocably deposit with the Paying Agent (or, if the Company or a Wholly Owned
Restricted Subsidiary is acting as a Paying Agent, segregate and hold in trust) a sum sufficient to pay the purchase price for the Securities or portions thereof that have been properly tendered to and are to be accepted by the Company pursuant to
such Asset Sale Offer. The Trustee (or a Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the amount of the purchase price for such Securities. In the event that the Excess
Proceeds delivered by the Company to the Paying Agent is greater than the purchase price of the Securities tendered, the Trustee shall deliver the excess to the Company on the Business Day following the expiration of the Offer Period. 

(e) Holders electing to have a Security purchased shall be required to surrender the Security, with an appropriate form duly completed, to the
Company at the address specified in the notice of an Asset Sale Offer at least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if the Trustee or the Company receives, not later than two Business
Days prior to the purchase date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered by the Holder for purchase and a statement that such Holder is
withdrawing his election to have such Security purchased. If at the end of the Offer Period more Securities are tendered pursuant to an Asset Sale Offer than the Issuers are required to purchase, selection of such Securities for purchase shall be
made by the Issuers in compliance with the requirements of the principal national securities exchange, if any, on which such Securities are listed, or if such Securities are not listed, by lot or such other method as the Issuers shall deem fair and
appropriate (and in such manner as complies with applicable requirements of the Depository); provided that the Company shall not select Securities for purchase which would result in a Holder with a principal amount of Securities less than the
minimum denomination to the extent practicable. 
 (f) Notices of an Asset Sale Offer shall be mailed by first class mail, postage prepaid,
at least 30 but not more than 60 days before the purchase date to each Holder of Securities at such Holder’s registered address (or otherwise in accordance with the Depository’s procedures). If any Security is to be purchased in part
only, any notice of purchase that relates to such Security shall state the portion of the principal amount thereof that has been or is to be purchased. 

(g) A new Security in principal amount equal to the unpurchased portion of any Security purchased in part shall be issued in the name of the
Holder thereof upon cancellation of the original Security. On and after the purchase date, unless the Company defaults in payment of the purchase price, interest shall cease to accrue on Securities or portions thereof purchased. 

  
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 SECTION 4.07. Transactions with Affiliates. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, make any payment to, or sell,
lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions, contract, agreement, loan, advance or guarantee with any
Affiliate of the Company (each of the foregoing, an “Affiliate Transaction”) involving aggregate consideration in excess of $25 million, unless: 

(i) such Affiliate Transaction is on terms, taken as a whole, that are not materially less favorable to the Company or the
relevant Restricted Subsidiary than those that could reasonably have been obtained in a comparable transaction at the time of such transaction (or if earlier, the date on which such transaction is contractually agreed) by the Company or such
Restricted Subsidiary with an unrelated Person; and 
 (ii) with respect to any Affiliate Transaction or series of related
Affiliate Transactions involving aggregate consideration in excess of $50 million, the Company delivers to the Trustee a resolution adopted in good faith by the majority of the Board of Directors of the Company or any direct or indirect parent
of the Company, approving such Affiliate Transaction and set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with clause (i) above (which resolution, if adopted by a majority of the Disinterested
Directors shall be conclusive evidence of compliance with clause (i) above). 
 (b) The provisions of Section 4.07(a) shall not
apply to the following: 
 (i) (A) transactions between or among the Company, the Co-Issuer and/or any of the Restricted
Subsidiaries or any Person that becomes a Restricted Subsidiary as a result of the applicable transactions and (B) any merger of the Company and any direct parent of the Company; provided that such direct parent shall have no material
liabilities and no material assets other than cash, Cash Equivalents and the Capital Stock of the Company (if applicable) and such merger is otherwise in compliance with the terms of this Indenture and effected for a bona fide business purpose; 

(ii) (x) Restricted Payments permitted by Section 4.04 and (y) Permitted Investments; 

(iii) the payment of reasonable and customary fees and compensation paid to, and indemnities, insurance arrangements,
reimbursements, and employment and severance arrangements provided on behalf of, former, current or future, officers, directors, employees or consultants of the Issuers or any Restricted Subsidiary or any direct or indirect parent company of the
Company; 
 (iv) transactions in which the Company or any of its Restricted Subsidiaries, as the case may be, delivers to the
Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or meets the requirements of clause (i) of Section 4.07(a); 

  
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 (v) payments or loans (or cancellation of loans) to employees or consultants in
the ordinary course of business which are approved by a majority of the Board of Directors of the Company in good faith; 

(vi) any agreement (other than with the Sponsor) as in effect as of the Initial Escrow Release Date or any amendment thereto
(so long as any such agreement together with all amendments thereto, taken as a whole, is not more disadvantageous to the Holders of the Securities in any material respect than the original agreement as in effect on the Initial Escrow Release Date)
or any transaction contemplated thereby; 
 (vii) the existence of, or the performance by the Company or any of its
Restricted Subsidiaries of its obligations under the terms of any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the Initial Escrow Release Date and any
amendment thereto or similar agreements which it may enter into thereafter; provided, however, that the existence of, or the performance by the Company or any of its Restricted Subsidiaries of its obligations under, any future
amendment to any such existing agreement or under any similar agreement entered into after the Initial Escrow Release Date shall only be permitted by this clause (vii) to the extent that the terms of any such existing agreement together with
all amendments thereto, taken as a whole, or new agreement are not otherwise more disadvantageous to the Holders of the Securities in any material respect than the original agreement as in effect on the Initial Escrow Release Date; 

(viii) (A) transactions with customers, clients, suppliers or purchasers or sellers of goods or services, in each case in
the ordinary course of business and otherwise in compliance with the terms of this Indenture, which are fair to the Company and its Restricted Subsidiaries in the reasonable determination of the Board of Directors or the senior management of the
Company, and are on terms at least as favorable that could reasonably have been obtained at such time from an unaffiliated party (determined at the time such transaction is entered into, or, if early, the date such transaction is contractually
agreed) or (B) transactions with joint ventures or Unrestricted Subsidiaries entered into in the ordinary course of business; 

(ix) any transaction effected as part of a Qualified Receivables Financing, including dispositions and repurchases of assets;

 (x) the issuance of Equity Interests (other than Disqualified Stock) of the Company and the granting of registration
rights and other customary rights in connection therewith or any contribution to capital of the Company or any Restricted Subsidiary; 

(xi) (A) the entering into of any agreement (and any amendment or modification of any such agreement) to pay, and the payment
of, annual management, consulting, monitoring and advisory fees to the Sponsor in an aggregate amount in any fiscal year not to exceed the greater of (1) $50 million and (2) 3.0% of EBITDA for such fiscal year, plus all out-of-pocket
reasonable expenses incurred by the Sponsor or any of its Affiliates in connection with the performance of management, consulting, monitoring, advisory or other services with respect to the Company and its Restricted Subsidiaries and (B) the
payment to Sponsor or an Affiliate of Sponsor for the reasonable out-of-pocket costs of actual and necessary reasonable out-of-pocket legal, accounting, insurance, marketing, financial and similar types of services paid for by Sponsor or such
Affiliate on behalf of the Issuers or any Restricted Subsidiary of the Issuers; 
 (xii) payments by the Company or any of
its Restricted Subsidiaries to the Sponsor made for any financial advisory, financing, consulting, underwriting or placement services or in 

  
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respect of other investment banking or advisory activities, including, without limitation, in connection with the Transactions, operations, management, acquisitions, divestitures or other
financing arrangements, which payments are approved by a majority of the Board of Directors of the Company or any direct or indirect parent of the Company in good faith; 

(xiii) any contribution to the capital of the Company; 

(xiv) transactions permitted by, and complying with, the provisions of Section 5.01; 

(xv) transactions between the Company or any of its Restricted Subsidiaries and any Person, a director of which is also a
director of the Company or any direct or indirect parent of the Company; provided, however, that such director abstains from voting as a director of the Company or such direct or indirect parent of the Company, as the case may be, on
any matter involving such other Person; 
 (xvi) pledges of Equity Interests of Unrestricted Subsidiaries; 

(xvii) any employment agreements, pension plans or other employee benefit plans or arrangements entered into by the Company or
any of its Restricted Subsidiaries in the ordinary course of business; 
 (xviii) the issuances of securities or other
payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Company or any
direct or indirect parent of the Company or of a Restricted Subsidiary of the Company, as appropriate, in good faith; 

(xix) in the case Section 4.04(b)(xii), the entering into any tax sharing agreement or arrangement with respect to such
payments; 
 (xx) transactions entered into in good faith which provide for shared employees, services and/or facilities
arrangements and which provide cost savings and/or other operational efficiencies; 
 (xxi) transactions between
Albertson’s Group and any Person that is an Affiliate solely due to the fact that a director of such Person is also a director of the Company or any other direct or indirect parent of the Company; provided, however, that such
director abstains from voting as a director of the Company or such direct or indirect parent of the Company, as the case may be, on any matter involving such other Person; 

(xxii) (A) sales and purchase arrangements, joint purchasing arrangements and other service agreements in the ordinary course
of business between, on the one hand, Albertson’s Group and, on the other hand, NAI and its Subsidiaries, for the sale and purchase, at cost, of inventory, equipment and supplies, (B) leases between NAI and/or its Subsidiaries and the
Company and/or any of its Restricted Subsidiaries, and (C) certain transactions between NAI and/or its Subsidiaries and the Company and/or any of its Restricted Subsidiaries with respect to self-insurance matters and residual pharmacy
transactions; 
 (xxiii) (A) sales and purchase arrangements, joint purchasing arrangements and other service agreements in
the ordinary course of business between, on the one hand, Albertson’s Group and, on the other hand, SUPERVALU Inc. and its Subsidiaries, for the sale and purchase, 

  
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at cost, of inventory, equipment and supplies, and leases between SUPERVALU Inc. and the Company or any of its Restricted Subsidiaries, and (B) one-time payments to be made in connection
with the termination and/or transition of certain services under the transition services agreement between such Persons; 

(xxiv) the Transactions, and payments of fees, expenses and other amount in connection therewith; 

(xxv) any purchases by the Company’s Affiliates of Indebtedness or Disqualified Stock of the Company or any of its
Restricted Subsidiaries the majority of which Indebtedness or Disqualified Stock is purchased by Persons who are not the Company’s Affiliates; provided that such purchases by the Company’s Affiliates are on the same terms as such
purchases by such Persons who are not the Company’s Affiliates; and 
 (xxvi) transactions contractually agreed to
between an Unrestricted Subsidiary with an Affiliate prior to the day such Unrestricted Subsidiary is redesignated as a Restricted Subsidiary. 

SECTION 4.08. Change of Control. 

(a) Upon a Change of Control, each Holder shall have the right to require the Issuers to repurchase all or any part of such Holder’s
Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of Holders of record on the relevant record date to receive interest due
on the relevant interest payment date), in accordance with the terms contemplated in this Section 4.08; provided, however, that notwithstanding the occurrence of a Change of Control, the Issuers shall not be obligated to purchase
any Securities pursuant to this Section 4.08 in the event that they have exercised their right to redeem such Securities in accordance with Article 3 of this Indenture. 

(b) Within 30 days following any Change of Control, except to the extent that the Issuers have exercised their right to redeem the
Securities in accordance with Article 3 of this Indenture, the Issuers shall send a notice (a “Change of Control Offer”) to each Holder with a copy to the Trustee stating: 

(i) that a Change of Control has occurred and that such Holder has the right to require the Issuers to purchase all or a
portion of such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on a record date to
receive interest on the relevant interest payment date); 
 (ii) the circumstances and relevant facts and financial
information regarding such Change of Control; 
 (iii) the repurchase date (which shall be no earlier than 30 days nor later
than 60 days from the date such notice is sent); and 
 (iv) the instructions determined by the Issuers, consistent with this
Section 4.08, that a Holder must follow in order to have its Securities purchased. 
 (c) Holders electing to have a Security purchased
shall be required to surrender the Security, with an appropriate form duly completed, to the Issuers at the address specified in the Change of Control Offer at least three Business Days prior to the purchase date. The Holders shall be entitled to

  
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withdraw their election if the Trustee or the Issuers receive not later than two Business Days prior to the purchase date a telegram, telex, facsimile transmission or letter setting forth the
name of the Holder, the principal amount of the Security which was delivered for purchase by the Holder and a statement that such Holder is withdrawing its election to have such Security purchased. Holders whose Securities are purchased only in part
shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered. 
 (d) On the purchase
date, all Securities purchased by the Issuers under this Section 4.08 shall be delivered to the Trustee for cancellation, and the Issuers shall pay the purchase price plus accrued and unpaid interest to the Holders entitled thereto. 

(e) Notwithstanding the foregoing provisions of this Section 4.08, the Issuers shall not be required to make a Change of Control Offer
upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in Section 4.08(b) applicable to a Change of Control Offer made by the Issuers
and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer. 
 (f) At the time the Issuers deliver
Securities to the Trustee that are to be accepted for purchase, the Issuers shall also deliver an Officers’ Certificate stating that such Securities are to be accepted by the Issuers pursuant to and in accordance with the terms of this
Section 4.08. A Security shall be deemed to have been accepted for purchase at the time the Trustee or the Paying Agent, directly or through an agent, mails or delivers payment therefor to the surrendering Holder. 

(g) Prior to any Change of Control Offer, the Issuers shall deliver to the Trustee an Officers’ Certificate stating that all conditions
precedent contained herein to the right of the Issuers to make such offer have been complied with. 
 (h) The Issuers shall comply, to the
extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.08. To the extent that the provisions of
any securities laws or regulations conflict with provisions of this Section 4.08, the Issuers shall comply with the applicable securities laws and regulations and shall not be deemed to have breached their obligations under this
Section 4.08 by virtue thereof. 
 (i) A Change of Control Offer may be made in advance of a Change of Control, and conditioned upon
such Change of Control (subject to any extensions to the extent set forth in the Change of Control Offer Notice). 
 (j) If Holders of not
less than 90% in aggregate principal amount of the outstanding Securities validly tender and do not withdraw such Securities in a Change of Control Offer and the Company, or any third party making a Change of Control Offer in lieu of the Company,
purchases all of the Securities validly tendered and not withdrawn by such Holders, the Company or such third party shall have the right, upon not less than 30 nor more than 60 days’ prior notice, which notice must be given not more than 30
days following such purchase pursuant to the Change of Control Offer, to redeem all Securities that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to but
excluding the date of redemption. 
 SECTION 4.09. Compliance Certificate. Commencing with the fiscal year ending December 31,
2015, the Issuers shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company an Officers’ Certificate stating that in the course of the performance by the signers of their duties as Officers of the
Issuers they would normally have knowledge of any Default and whether 

  
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or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe the Default, its status and what action the Issuers are taking or propose to
take with respect thereto. 
 SECTION 4.10. Further Assurances, Instruments and Acts. 

(a) Upon request of the Trustee, each of the Issuers shall, and the Issuers shall cause each existing and future Restricted Subsidiary to,
execute and deliver such additional instruments, certificates or documents, and take all such actions as may be reasonably required from time to time in order to: 

(i) carry out more effectively the purposes of the Security Documents; 

(ii) create, grant, perfect and maintain the validity, effectiveness and priority of any of the Security Documents and the
Liens created, or intended to be created, by the Security Documents; and 
 (iii) ensure the protection and enforcement of
any of the rights granted or intended to be granted to the Trustee and/or Notes Collateral Agent under any other instrument executed in connection therewith. 

SECTION 4.11. Future Guarantors. The Issuers shall cause each Restricted Subsidiary that is a wholly owned Domestic Subsidiary (unless
such Subsidiary is not required to guarantee the Term Loan Facility or is already a Subsidiary Guarantor) that: 
 (a)
guarantees any Indebtedness of the Issuers or any of their Restricted Subsidiaries; or 
 (b) Incurs any Indebtedness or
issues any shares of Disqualified Stock, 
 in each case, other than (i) Indebtedness Incurred pursuant to the Non-Guarantor Exception and (2) any
Permitted Debt referred to in Section 4.03(b), to execute and deliver to the Trustee (A) on or prior to the Initial Escrow Release Date, an Initial Escrow Release Date Supplemental Indenture and (B) after the Initial Escrow Release
Date, a supplemental indenture in the form of Exhibit D hereto, in each case pursuant to which such Subsidiary shall guarantee payment of the Securities and to comply with the provisions of Section 4.10(b) to the extent any such compliance is
required by the terms of the Security Documents. 
 SECTION 4.12. Liens. 

(a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create, Incur or suffer to exist any
Lien that secures any Indebtedness (other than Permitted Liens) on any asset or property of the Company or such Restricted Subsidiary, other than Liens securing Indebtedness that are junior in priority to the Liens on such property or assets
securing the Securities, without effectively providing that the Securities or the applicable Subsidiary Guarantee, as the case may be, shall be equally and ratably secured with (or on a senior basis to) the Obligations secured by such Lien. 

(b) Section 4.12(a) shall not require the Company or any Restricted Subsidiary of the Company to secure the Securities if the relevant
Lien consists of a Permitted Lien. Any Lien which is granted to secure the Securities or such Guarantee under Section 4.12(a) shall be automatically released and discharged at the same time as the release of the Lien that gave rise to the
obligation to secure the Securities or such Guarantee under Section 4.12(a). 
 (c) With respect to any Lien securing Indebtedness that
was permitted to secure such Indebtedness at the time of the Incurrence of such Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. 

  
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 SECTION 4.13. Maintenance of Office or Agency. 

(a) The Company shall maintain in the United States, an office or agency (which may be an office of the Trustee or an affiliate of the Trustee
or Registrar) where Securities may be surrendered for registration of transfer or for exchange. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency (in each case, if
not the office of the Trustee). If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or
served at the corporate trust office of the Trustee as set forth in Section 13.02; provided, however, no service of legal process may be made on the Issuers at an office of the Trustee. 

(b) The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented or
surrendered for any or all such purposes and may from time to time rescind such designations. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other
office or agency. 
 (c) The Issuers hereby designate the corporate trust office of the Trustee or its agent, as such office or agency of
the Issuers in accordance with Section 2.04. 
 SECTION 4.14. Applicability, Discharge and Suspension of Covenants. 

(a) Notwithstanding anything to the contrary herein, the covenants set forth in Section 4.01 through and including Section 4.13
above shall become effective only upon the occurrence of the Initial Escrow Release Date. 
 (b) If on any date following the Initial Escrow
Release Date (i) the Securities have Investment Grade Ratings from both Rating Agencies, and (ii) no Default has occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i) and
(ii) being collectively referred to as a “Covenant Suspension Event”), Section 4.03, Section 4.04, Section 4.05, Section 4.06, Section 4.07, and clause (iv) of Section 5.01(a) (collectively,
the “Suspended Covenants”) shall no longer be applicable to such Securities. 
 (c) In the event that the Issuers and the
Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time pursuant to Section 4.14(b) (any such period, a “Suspension Period”), and on any subsequent date (the
“Reversion Date”) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Securities below an Investment Grade Rating, then the Issuers and the Restricted Subsidiaries shall
thereafter again be subject to the Suspended Covenants under this Indenture with respect to future events. 
 (d) Upon the occurrence of a
Covenant Suspension Event, the amount of Excess Proceeds from Net Cash Proceeds shall be reset at zero. 
 (e) In the event of any
reinstatement of the Suspended Covenants pursuant to Section 4.14(c), no action taken or omitted to be taken by the Issuers or any of the Restricted Subsidiaries prior to reinstatement of covenants will give rise to a Default or Event of
Default under this Indenture with respect to any Securities; provided that (1) with respect to Restricted Payments made after any such reinstatement, 

  
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the amount of Restricted Payments made after the Initial Escrow Release Date shall be calculated as though Section 4.04 had been in effect prior to, but not during the Suspension Period,
provided that any Subsidiaries designated as Unrestricted Subsidiaries during the Suspension Period shall automatically become Restricted Subsidiaries on the Reversion Date (subject to the Company’s right to subsequently designate them
as Unrestricted Subsidiaries in compliance with Section 4.04 and the definition of “Unrestricted Subsidiary” hereunder) and (2) all Indebtedness Incurred, or Disqualified Stock or Preferred Stock issued, during the Suspension
Period shall be classified to have been Incurred or issued pursuant to clause (iv) of Section 4.03(b). 
 (f) The Issuers shall provide
written notice to the Trustee of the occurrence of any Covenant Suspension Event or Reversion Date, but no Default or Event of Default shall occur as a result of the failure to provide such notice. The Trustee shall have no obligation to
(1) independently determine or verify if such events have occurred or (2) notify the Holders of the Securities of the occurrence of a Covenant Suspension Event or a Reversion Date. 

SECTION 4.15. Limitations on Activities Prior to the Initial Escrow Release. 

(a) Notwithstanding anything to the contrary herein, prior to the closing of the Safeway Acquisition, Merger Sub’s primary activities
will be restricted to issuing the Securities, borrowing under the Credit Agreements, issuing capital stock to, and receiving capital contributions from, the Company, performing its obligations in respect of the Securities under this Indenture, the
Credit Agreements, the Escrow Agreement and the Term Loan Escrow Agreement, consummating the Transactions and Initial Escrow Release, redeeming the Securities and repaying the Term Loan B-3 and Term Loan B-4, if applicable, and conducting such other
activities as are necessary or appropriate to fulfill corporate activities, maintain its corporate existence and carry out the activities described above. Prior to the closing of the Safeway Acquisition, Merger Sub will not own, hold or otherwise
have any interest in any assets other than the Escrow Account, the escrow account established under the Term Loan Escrow Agreement, cash and Cash Equivalents, and its rights under any agreement entered into in furtherance of completion of the
Transactions. 
 (b) Notwithstanding anything to the contrary herein, prior to the closing of the Safeway Acquisition, Merger Sub shall not
engage in any business activity or enter into any transaction or agreement (including, without limitation, making any Restricted Payment, incurring any Indebtedness (other than under this Indenture, the ABL Facility and the Term Loan Facility),
incurring any Liens (other than under the Escrow Agreement, or in connection with the Indenture, the ABL Facility or the Term Loan Facility), entering into any merger, consolidation or sale of all or substantially all of its assets or engaging in
any transaction with its Affiliates) except in the ordinary course of business or in furtherance of completion of the Safeway Acquisition and the Transactions substantially in accordance with the description of the Transactions in the Offering
Memorandum, together with such amendments, modifications and waivers that are not materially adverse to the Holders of the Securities. The Company shall promptly provide notice to the Trustee of the occurrence of the Safeway Acquisition. 

  
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 SECTION 4.16. Insurance. Each of the Issuers will maintain and cause its Subsidiaries to
maintain with insurers, believed by the Issuers to be responsible, insurance against loss or damage to the extent that property of similar character is usually so insured by corporations similarly situated and owning like properties (it being
understood that this Section 4.16 shall not prevent the use of deductible or excess loss insurance and shall not prevent (a) the Company or any of its Subsidiaries from acting as a self-insurer or maintaining insurance with another
Subsidiary or Subsidiaries of the Company so long as such action is consistent with sound business practice or (b) the Company from obtaining and owning insurance policies covering activities of its Subsidiaries). 

SECTION 4.17. Maintenance of Properties. Subject to, and in compliance with, the provisions of Article 11 and the provisions of the
applicable Security Documents, the Issuers shall cause all material properties necessary in the conduct of their business or the business of any of the Subsidiary Guarantors to be maintained and kept in good operating condition, repair and working
order (ordinary wear and tear, casualty loss and disposition excepted) and supplied with all necessary equipment and shall cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereto; provided, that
the Company shall not be obligated to make such repairs, renewals, replacements, betterments and improvements if the failure to do so would not result in a material adverse effect on the ability of the Issuers and the Subsidiary Guarantors to
satisfy their payment obligations under the Securities, the Guarantees, this Indenture and the Security Documents. 
 ARTICLE 5 

SUCCESSOR COMPANY 

SECTION 5.01. When Company May Merge or Transfer Assets. 

(a) The Company shall not consolidate or merge with or into or wind up into (whether or not the Company is the surviving corporation), or
sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: 

(i) the Company is the surviving corporation or the Person formed by or surviving any such consolidation or merger (if other
than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability company organized or existing under the laws of the United States, any
state thereof, the District of Columbia, or any territory thereof (the Company or the Person, as the case may be, being herein called the “Successor Company”); provided that in the case where the surviving Person is not a
corporation, a co-obligor of the Securities is a corporation; provided further, that the Co-Issuer may not consolidate or merge with or into any entity other than a corporation satisfying such requirements for so long as the Company remains a
limited liability company; 
 (ii) the Successor Company (if other than the Company) expressly assumes all the obligations of
the Company under this Indenture, the Security Documents and the Securities pursuant to supplemental indentures; 
 (iii)
immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor
Company or such Restricted Subsidiary at the time of such transaction), no Default or Event of Default shall have occurred and be continuing; 

  
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 (iv) immediately after giving pro forma effect to such transaction, as if such
transaction had occurred at the beginning of the applicable four-quarter period, either 
 (A) the Successor Company would be
permitted to Incur at least $1.00 of additional Indebtedness pursuant to Section 4.03(a); or 
 (B) the Fixed Charge
Coverage Ratio for the Successor Company and its Restricted Subsidiaries would not be less than such ratio for the Issuers and their Restricted Subsidiaries immediately prior to such transaction; 

(v) if the Successor Company is other than the Company, each Subsidiary Guarantor, unless it is the other party to the
transactions described above, shall have by supplemental indenture confirmed that its Subsidiary Guarantee shall apply to such Person’s obligations under this Indenture and the Securities; 

(vi) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger or transfer and such supplemental indentures and/or amendments or joinders with respect to the Security Documents (if any) comply with this Indenture; 

(vii) the Successor Company causes such amendments, supplements or other instruments to be executed, delivered, filed and
recorded, as applicable, in such jurisdictions as may be required by applicable law to preserve and protect the Lien of the Security Documents on the Collateral owned by or transferred to the Successor Company; 

(viii) the Collateral owned by or transferred to the Successor Company shall (x) continue to constitute Collateral under
this Indenture and the Security Documents, (y) be subject to the Lien in favor of the Notes Collateral Agent for the benefit of the Trustee and the Holders of the Securities, and (z) not be subject to any Lien other than Permitted Liens;
and 
 (ix) the property and assets of the Person which is merged or consolidated with or into the Successor Company, to the
extent that they are property or assets of the types which would constitute Collateral under the Security Documents, shall be treated as after-acquired property and the Successor Company shall take such action as may be reasonably necessary to cause
such property and assets to be made subject to the Lien of the Security Documents in the manner and to the extent required in this Indenture. 

The Successor Company (if other than the Company) shall succeed to, and be substituted for, the Company under this Indenture and the
Securities, and the Company shall automatically be released and discharged from its obligations under this Indenture and the Securities. Satisfaction of the foregoing clauses (iii) and (iv) of this Section 5.01 shall not be required
if (a) the Company or any Restricted Subsidiary shall consolidate with, merge into or sell, assign, transfer, lease, convey or otherwise dispose of all or part of its properties and assets to the Company or to another Restricted Subsidiary, and
(b) the Company shall merge or consolidate with an Affiliate incorporated or organized solely for the purpose of reincorporating or reorganizing the Company in another state of the United States, the District of Columbia or any territory of the
United States so long as the amount of Indebtedness of the Company and its Restricted Subsidiaries is not increased thereby (any transaction described in this sentence, a “Specified Merger/Transfer Transaction”). 

(b) Subject to the provisions of Section 10.02(b) (which govern the release of a Subsidiary Guarantee upon the sale or disposition of a
Restricted Subsidiary of the Company that is a Subsidiary 

  
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Guarantor), the Co-Issuer shall not and each Guarantor shall not, and the Company shall not permit the Co-Issuer or any Guarantor to, consolidate or merge with or into or wind up into (whether or
not the Co-Issuer or such Guarantor is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: 

(i) either (x) the Co-Issuer or such Guarantor, as applicable, is the surviving Person or the Person formed by or
surviving any such consolidation or merger (if other than the Co-Issuer or such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability
company organized or existing under the laws of the United States, any state thereof, the District of Columbia or any territory thereof (such Person being herein called, as applicable, the “Successor Co-Issuer” or “Successor
Guarantor”) and the Successor Co-Issuer or Successor Guarantor, as applicable (if other than the Co-Issuer or such Guarantor), expressly assumes all the obligations of the Co-Issuer or such Guarantor under this Indenture pursuant to a
supplemental indenture or (y) such sale or disposition or consolidation or merger is not in violation of Section 4.06 (in which case clauses (ii) through (vi) of this Section 5.01(b) shall not apply); 

(ii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the
Successor Co-Issuer or Successor Guarantor or any of its Subsidiaries as a result of such transaction as having been Incurred by the Successor Co-Issuer or Successor Guarantor or such Subsidiary at the time of such transaction) no Default or Event
of Default shall have occurred and be continuing; 
 (iii) the Successor Co-Issuer or Successor Guarantor (if other than the
Co-Issuer or such Guarantor) shall have delivered or caused to be delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any)
comply with this Indenture; 
 (iv) the Successor Co-Issuer or Successor Guarantor causes such amendments, supplements or
other instruments to be executed, delivered, filed and recorded, as applicable, in such jurisdictions as may be required by applicable law to preserve and protect the Lien of the Security Documents on the Collateral owned by or transferred to the
Successor Co-Issuer or Successor Guarantor, as applicable; 
 (v) the Collateral owned by or transferred to the Successor
Co-Issuer or Successor Guarantor shall (a) continue to constitute Collateral under this Indenture and the Security Documents, (b) be subject to the Lien in favor of the Notes Collateral Agent for the benefit of the Trustee and the Holders
of the Securities, and (c) not be subject to any Lien other than Permitted Liens; and 
 (vi) the property and
assets of the Person which is merged or consolidated with or into the Successor Co-Issuer or Successor Guarantor, to the extent that they are property or assets of the types which would constitute Collateral under the Security Documents, shall be
treated as after-acquired property and the Successor Guarantor shall take such action as may be reasonably necessary to cause such property and assets to be made subject to the Lien of the Security Documents in the manner and to the extent required
in this Indenture. 
 The Successor Co-Issuer or Successor Guarantor shall succeed to, and be substituted for, the Co-Issuer or such
Guarantor, as applicable, under this Indenture and the Co-Issuer’s obligations or such Guarantor’s Guarantee, and the Co-Issuer or such Guarantor will automatically be released and discharged

  
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from its obligations under this Indenture. Notwithstanding the foregoing, (1) the Co-Issuer or a Guarantor may merge or consolidate with an Affiliate incorporated or organized solely for the
purpose of reincorporating or reorganizing such Person in another state of the United States, the District of Columbia or any territory of the United States, so long as the amount of Indebtedness of the Guarantor is not increased thereby, (2) a
Guarantor may merge or consolidate with another Guarantor or the Company, and (3) a Guarantor may convert into a corporation, partnership, limited partnership, limited liability corporation or trust organized or existing under the laws of the
jurisdiction of organization of such Guarantor. 
 For the avoidance of doubt, this Section 5.01 shall not apply to the Safeway
Acquisition. 
 ARTICLE 6 

DEFAULTS AND REMEDIES 

SECTION 6.01. Events of Default. An “Event of Default” occurs if: 

(a) the Issuers default in any payment of interest on any Security when the same becomes due and payable, and such default
continues for a period of 30 days, 
 (b) the Issuers default in the payment of principal or premium, if any, of any
Security when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise, 

(c) the Issuers fail to comply with their obligations under Section 5.01, 

(d) the Issuers or any of the Restricted Subsidiaries fail to comply with any of their obligations under the covenants set
forth in Sections 4.08 (other than a failure to purchase Securities when required under Section 4.08) and such failure continues for 30 days after receipt of a related Notice of Default as specified below, 

(e) the Issuers or any of the Restricted Subsidiaries fail to comply with any of their agreements in the Securities or this
Indenture (other than those referred to in (a), (b), (c), or (d) above) and such failure continues for 60 days after receipt of a related Notice of Default as specified below, 

(f) the Issuers or any Significant Subsidiary fail to pay any Indebtedness (other than Indebtedness owing to the Issuers or a
Restricted Subsidiary of the Issuers) within any applicable grace period after final maturity or the acceleration of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of such Indebtedness unpaid or
accelerated exceeds $150 million or its foreign currency equivalent, 
 (g) the Company, the Co-Issuer or any
Significant Subsidiary of the Company pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary
case; 
 (ii) consents to the entry of an order for relief against it in an involuntary case; 

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

(iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any foreign laws relating
to insolvency, 

  
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 (h) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (i) is for relief against the Company, the Co-Issuer or any Significant Subsidiary of the Company or
the Co-Issuer in an involuntary case; 
 (ii) appoints a Custodian of the Company, the Co-Issuer or any Significant
Subsidiary of the Company or the Co-Issuer or for any substantial part of its property; or 

(iii) orders the winding up or liquidation of the Company, the Co-Issuer or any Significant Subsidiary of the Company or the
Co-Issuer; 
 or any similar relief is granted under any foreign laws and, in each such case, the order or decree remains unstayed and in
effect for 90 days, 
 (i) the Issuers or any Significant Subsidiary fails to pay final and non-appealable judgments
aggregating in excess of $150 million or its foreign currency equivalent (net of any amounts which are covered by indemnities or insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period
of 60 days following the entry thereof, and in the event such judgment is covered by indemnities or insurance, any creditor commences an enforcement proceeding upon such judgment or decree which is not promptly stayed, 

(j) any Subsidiary Guarantee of a Significant Subsidiary ceases to be in full force and effect (except as contemplated by the
terms thereof) or any Subsidiary Guarantor that qualifies as a Significant Subsidiary denies or disaffirms its obligations under this Indenture or any such Guarantee and such Default continues for 10 days after receipt of a related Notice of Default
as specified below, 
 (k) unless all of the Collateral has been released in accordance with the provisions of the Security
Documents, the Company or any of the Company’s Subsidiaries defaults in the performance of the Security Documents which adversely affects in any material respect the enforceability, validity, perfection or priority of the Liens on a material
portion of the Collateral, the repudiation or disaffirmation by the Company or any of the Company’s Subsidiaries of its material obligations under the Security Documents or the determination in a judicial proceeding that the Security Documents
are unenforceable or invalid against the Company or any of the Company’s Subsidiaries party thereto for any reason with respect to a material portion of the Collateral, which default, repudiation, disaffirmation or determination is not
rescinded, stayed, or waived by the Persons having such authority pursuant to the Security Documents or otherwise cured within 60 days after receipt of a related Notice of Default as specified below; or 

(l) failure of the Issuers to comply with Section 3.09 or Section 3.10. 

The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary
or is 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. 

  
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 The term “Custodian” means any receiver, trustee, assignee, liquidator,
custodian or similar official under any Bankruptcy Law. 
 A Default under clause (c), (d), (e) or (k) above shall not
constitute an Event of Default until the Trustee notifies the Issuers in writing or the Holders of at least 30% in principal amount of the outstanding Securities notifies the Issuers and the Trustee in writing of the Default and the Issuers do not
cure such Default within the time specified in clauses (c), (d), (e) or (k) above after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of
Default.” The Issuers shall deliver to the Trustee, within thirty (30) days after the occurrence thereof, written notice of any event which is, or with the giving of notice or the lapse of time or both would become, an Event of
Default, its status and what action the Issuers are taking or propose to take with respect thereto. 
 SECTION 6.02. Acceleration. If
an Event of Default (other than an Event of Default specified in Section 6.01(g) or (h) with respect to the Issuers) occurs and is continuing, the Trustee by written notice to the Issuers or the Holders of at least 30% in principal amount
of outstanding Securities by written notice to the Issuers and the Trustee, may declare the principal of, premium, if any, and accrued but unpaid interest on all the Securities to be due and payable. Upon such a declaration, such principal and
interest shall be due and payable immediately. If an Event of Default specified in Section 6.01(g) or (h) with respect to the Company or Co-Issuer occurs, the principal of, premium, if any, and
interest on all the Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the Securities by notice to
the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of principal or interest that has become
due solely because of acceleration. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 
 In the
event of any Event of Default specified in Section 6.01(f), such Event of Default and all consequences thereof (excluding, however, any resulting payment default, other than as a result of the acceleration of the Securities) shall be annulled,
waived and rescinded, automatically and without any action by the Trustee or the Holders of the Securities, if within 20 days after such Event of Default arose the Company delivers an Officers’ Certificate to the Trustee stating that
(x) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged or (y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of
Default or (z) the default that is the basis for such Event of Default has been cured. 
 SECTION 6.03. Other Remedies. If an
Event of Default occurs and is continuing, the Trustee may pursue any available remedy at law or in equity to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities, this
Indenture or the Security Documents. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event
of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative to the extent permitted by law. 
 SECTION
6.04. Waiver of Past Defaults. Provided the Securities are not then due and payable by reason of a declaration of acceleration, the Holders of a majority in principal amount of the Securities by notice to the Trustee may waive an existing
Default or Event of Default and its consequences except a Default or Event of Default in respect of a provision that under Section 9.02 cannot be 

  
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amended without the consent of each Holder affected, in which case each Holder so affected may waive such Default or Event of Default (but excluding, for the avoidance of doubt, a payment Event
of Default occurring as a result of the acceleration of the Securities, which may be rescinded pursuant to Section 6.02). When a Default or Event of Default is waived, such Default or Event of Default shall cease to exist, and any such Default
or Event of Default shall be deemed to have been cured for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. 

SECTION 6.05. Control by Majority. Except as otherwise provided in the Security Documents, the Holders of a majority in principal
amount of the Securities then outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to
follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability;
provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action under this Indenture, the Trustee shall be entitled to indemnification
satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 
 SECTION 6.06.
Limitation on Suits. 
 (a) Except to enforce the right to receive payment of principal, premium, if any, or interest when due, no
Holder may pursue any remedy with respect to this Indenture or the Securities unless: 
 (i) the Holder gives to the Trustee
written notice stating that an Event of Default is continuing; 
 (ii) the Holders of at least 30% in principal amount of the
Securities then outstanding make a written request to the Trustee to pursue the remedy; 
 (iii) such Holder or Holders offer
to the Trustee security or indemnity satisfactory to it against any loss, liability or expense; 
 (iv) the Trustee does not
comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and 
 (v) the
Holders of a majority in principal amount of the Securities do not give the Trustee a written direction inconsistent with the request prior to the expiration of such 60-day period. 

(b) A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder.

 SECTION 6.07. Rights of the Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any
Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such Holder. 

  
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 SECTION 6.08. Collection Suit by Trustee. If an Event of Default specified in
Section 6.01(a) or (b) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company, the Co-Issuer or any other obligor on the Securities for the whole amount then due
and owing (together with interest on overdue principal and (to the extent lawful) on any unpaid interest at the rate provided for in the Securities) and the amounts provided for in Section 7.07. 

SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses disbursements and advances of the Trustee (including counsel, accountants, experts or such other professionals as the
Trustee deems reasonably necessary, advisable or appropriate)) and the Holders allowed in any judicial proceedings relative to the Issuers or any Guarantor, their creditors or their property, shall be entitled to participate as a member, voting or
otherwise, of any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar
functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the
Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07. 

SECTION 6.10. Priorities. Except to the extent otherwise set forth in the Security Documents, if the Trustee collects any money or
property pursuant to this Article 6, it shall pay out the money or property in the following order: 
 FIRST: to the Trustee
and the Notes Collateral Agent for amounts due under Section 7.07; 
 SECOND: to Holders for amounts due and unpaid on
the Securities for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 

THIRD: to the Company or, to the extent the Trustee collects any amount for any Subsidiary Guarantor, to such Subsidiary
Guarantor. 
 The Trustee, upon prior written notice to the Issuers and the Subsidiary Guarantors, may fix a record date and payment date
for any payment to the Holders pursuant to this Section 6.10. At least 15 days before such record date, the Trustee shall send to each Holder and the Company a notice that states the record date, the payment date and amount to be paid.

 SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not
apply to a suit by the Trustee, a suit by an Issuer, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than 10% in principal amount of the Securities then outstanding. 

  
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 ARTICLE 7 

TRUSTEE 
 SECTION 7.01.
Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers
vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

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

(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (ii) in the absence of bad
faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, in the case of certificates or opinions required by any provision hereof to be provided to it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this
Indenture. 
 (c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own
willful misconduct, except that: 
 (i) this paragraph does not limit the effect of paragraph (b) of this
Section 7.01; 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer
unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii) the Trustee shall not be
liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05; and 

(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial
liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 
 (d) Every provision of
this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01. 

(e) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuers. 

(f) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) 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 7.01. 

  
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 SECTION 7.02. Rights of Trustee. 

(a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper person.
The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may
require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care.

 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it reasonably believes to be authorized
or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or negligence. 

(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal matters relating to
this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in reliance on the advice or opinion of such counsel. 

(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested (and subject to clause (g) below) in writing to do so by the Holders of not less than a majority in
principal amount of the Securities at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuers, personally or by agent or attorney, at the expense of the Issuers and shall incur no liability of any kind by reason of such inquiry or
investigation. 
 (g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it
in compliance with such request or direction. 
 (h) The rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

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

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

  
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 (k) The Trustee shall not be responsible or liable for any failure or delay in the performance of
its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other military
disturbances; sabotage; epidemics; riots; interruptions; loss or malfunction of utilities, computer (hardware or software) or communication services; accidents; labor disputes; and acts of civil or military authorities and governmental action. 

(l) The Trustee shall not be responsible or liable for the environmental condition or any contamination of any property encumbered by any
mortgage or deed of trust or for any diminution in value of any such property as a result of any contamination of the property by any hazardous substance, hazardous material, pollutant or contaminant. The Trustee shall not be liable for any claims
by or on behalf of the Holders or any other person or entity arising from contamination of the property by any hazardous substance, hazardous material, pollutant or contaminant, and shall have no duty or obligation to assess the environmental
condition of any such property or with respect to compliance of any such property under state or federal laws pertaining to the transport, storage, treatment or disposal of, hazardous substances, hazardous materials, pollutants, or contaminants or
regulations, permits or licenses issued under such laws. 
 (m) The Trustee shall be under no obligation to effect or maintain insurance or
to renew any policies of insurance or to inquire as to the sufficiency of any policies of insurance carried by the Issuers or any Guarantor, or to report, or make or file claims or proof of loss for, any loss or damage insured against or that may
occur, or to keep itself informed or advised as to the payment of any taxes or assessments, or to require any such payment to be made. 

(n) The Trustee shall not be obligated to acquire possession of or take any action with respect to any property encumbered by a mortgage or
deed of trust, if as a result of such action, the Trustee would be considered to hold title to, to be a “mortgagee in possession of”, or to be an “owner” or “operator” of such property within the meaning of the
Comprehensive Environmental Responsibility Cleanup and Liability Act of 1980, as amended from time to time, unless the Trustee has previously determined, based upon a report prepared by a person who regularly conducts environmental audits, that
(i) the such property is in compliance with applicable environmental laws or, if not, that it would be in the best interest of the Holders to take such actions as are necessary for such property to comply therewith and (ii) there are not
circumstances present at such property relating to the use, management or disposal of any hazardous wastes for which investigation, testing, monitoring, containment, clean-up or remediation could be required under any federal, state or local law or
regulation or that if any such materials are present for which such action could be required, that it would be in the best economic interest of the Holders to take such actions with respect to such property. Notwithstanding the foregoing, before
taking any such action, the Trustee may require that a satisfactory indemnity bond or environmental impairment insurance be furnished to it for the payment or reimbursement of all expenses to which it may be put and to protect it against all
liability resulting from any claims, judgments, damages, losses, fees, penalties or expenses which may result from such action. 
 SECTION
7.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuers or their Affiliates with the same rights it would have if it were
not Trustee. Any Paying Agent or Registrar may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 

SECTION 7.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, any Guarantee or the Securities, it shall not be accountable for the Issuers’ use of the proceeds from the Securities, and it shall not be responsible 

  
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for any statement of the Issuers or any Guarantor in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s
certificate of authentication. The Trustee shall not be charged with knowledge of any Default or Event of Default under Sections 6.01(c), (d), (e), (f), (g), (h), (i), (j), (k) or (l) or of the identity of any Significant Subsidiary unless
either (a) a Trust Officer shall have actual knowledge thereof or (b) the Trustee shall have received notice thereof in accordance with Section 13.02 from the Issuers, any Guarantor or any Holder. 

SECTION 7.05. Notice of Defaults. If a Default occurs and is continuing and if it is actually known to a Trust Officer, the Trustee
shall send to each Holder notice of the Default within the later of 90 days after it occurs and 30 days after it is actually known to a Trust Officer or written notice of it is received by the Trustee. Except in the case of a Default in
the payment of principal of, premium (if any) or interest on any Security, the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of the
Holders. 
 SECTION 7.06. [Reserved]. 

SECTION 7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time reasonable compensation for its
services. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly following receipt of written request therefor upon request for all
reasonable and documented out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the compensation and reasonable and documented out-of-pocket
expenses, disbursements and advances of the Trustee’s agents, counsel (limited to one law firm and one local counsel), accountants and experts. The Issuers and each Guarantor, jointly and severally, shall indemnify the Trustee against any and
all loss, liability, claim, damage or expense (including reasonable attorneys’ fees and expenses) incurred by or in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the costs
and expenses of enforcing this Indenture or Guarantee against the Issuers or a Guarantor (including this Section 7.07) and defending itself against or investigating any claim (whether asserted by any Issuer, any Guarantor, any Holder or any
other Person). The Trustee shall notify the Issuers of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; provided, however, that any failure so to notify the Issuers shall not relieve any
Issuer or any Guarantor of its indemnity obligations hereunder. The Issuers shall defend the claim and the indemnified party shall provide reasonable good faith cooperation at the Issuers’ reasonable expense in the defense. The Trustee may have
separate counsel and the Issuers and the Guarantors, as applicable, shall pay the fees and reasonable and documented out-of-pocket expenses of such counsel; provided, however, that the Issuers shall not be required to pay such fees and
expenses if they assume the Trustee’s defense and, in the reasonable judgment of outside counsel to the Trustee, there is no actual or potential legal conflict of interest between the Issuers and the Guarantors, on the one hand, and the Trustee
on the other hand, in connection with such defense. Neither the Issuers nor the Guarantors shall be required to reimburse any expense or indemnify against any loss, liability or expense (a) incurred by an indemnified party through such
party’s own willful misconduct, negligence or bad faith, or (b) if it is the result of the settlement of a claim for which indemnification may be sought hereunder and the Trustee shall have settled such claim without the Issuers’
consent (such consent not to be unreasonably withheld). 
 To secure the Issuers’ and the Guarantors’ payment obligations in this
Section 7.07, the Trustee shall have a Lien prior to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. 

  
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 The Issuers’ and the Guarantors’ payment obligations pursuant to this Section 7.07
shall survive the satisfaction or discharge of this Indenture, any rejection or termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under
applicable law, when the Trustee incurs expenses after the occurrence of a Default specified in Section 6.01(g) or (h) with respect to the Issuers, the expenses are intended to constitute expenses of administration under the Bankruptcy
Law. 
 SECTION 7.08. Replacement of Trustee. 

(a) The Trustee may resign at any time by so notifying the Issuers. The Holders of a majority in principal amount of the Securities may remove
the Trustee by so notifying the Trustee and may appoint a successor Trustee, with the Issuers’ written consent, which consent will not be unreasonably withheld. The Issuers may remove the Trustee if: 

(i) the Trustee fails to comply with Section 7.10; 

(ii) the Trustee is adjudged bankrupt or insolvent; 

(iii) a receiver or other public officer takes charge of the Trustee or its property; or 

(iv) the Trustee otherwise becomes incapable of acting. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or
resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture. 
 (b) If the Trustee
resigns, is removed by the Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee with the Issuers’ written consent, which consent will not be
unreasonably withheld, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers shall promptly appoint a successor Trustee. 

(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Thereupon the
resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. 

(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the
Holders of 10% in principal amount of the Securities may petition at the expense of the Issuers any court of competent jurisdiction for the appointment of a successor Trustee. 

(e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in
Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuers’ obligations under Section 7.07 shall
continue for the benefit of the retiring Trustee. 

  
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 SECTION 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee.

 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts
created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated;
and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in
all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 

SECTION 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of Section 310(a) of the TIA.
The Trustee shall have a combined capital and surplus of at least $100,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with Section 310(b) of the TIA, subject to its right to apply for a
stay of its duty to resign under the penultimate paragraph of Section 310(b) of the TIA; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the TIA any series of securities issued under
this Indenture and any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Issuers are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of
the TIA are met. 
 SECTION 7.11. Preferential Collection of Claims Against the Issuers. The Trustee shall comply with
Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent indicated. 

ARTICLE 8 
 DISCHARGE OF
INDENTURE; DEFEASANCE 
 SECTION 8.01. Discharge of Liability on Securities; Defeasance. 

This Indenture shall be discharged and shall cease to be of further effect (except as to surviving rights of registration or transfer or
exchange of Securities, as expressly provided for in this Indenture) as to all outstanding Securities and the Liens in favor of the Notes Collateral Agent securing the Securities under the Security Documents shall terminate when: 

(a) either (i) all the Securities theretofore authenticated and delivered (other than Securities pursuant to
Section 2.08 which have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuers and thereafter repaid to the Issuers or discharged from such trust) have
been delivered to the Trustee for cancellation or (ii) all of the Securities (A) have become due and payable, (B) will become due and payable at their stated maturity within one year or (C) if redeemable at the option of the
Issuers, are to be called for redemption within one year under arrangements reasonably satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuers, and the Issuers have
irrevocably deposited or caused to be deposited with the Trustee funds in cash in U.S. Dollars, U.S. Government Obligations or a combination thereof in an amount sufficient in the written opinion of a firm of independent public accountants delivered

  
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to the Trustee (which delivery shall only be required if U.S. Government Obligations have been so deposited) to pay and discharge the entire Indebtedness on the Securities not theretofore
delivered to the Trustee for cancellation, for principal of, premium, if any, and interest on the Securities together with irrevocable instructions from the Issuers directing the Trustee to apply such funds to the payment thereof at maturity or
redemption, as the case may be; 
 (b) the Issuers and/or the Guarantors have paid all other sums payable under this
Indenture; and 
 (c) the Issuers have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel
stating that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. 

Subject to Section 8.02, the Issuers at any time may terminate (i) all of their obligations under the Securities, this Indenture
(with respect to such Securities) and the Security Documents (“legal defeasance option”) or (ii) their obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.10, 4.11, 4.12, 4.15, 4.16 and 4.17 and the
operation of Section 5.01 and Sections 6.01(c), 6.01(d), 6.01(e) (with respect to any Default under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.10, 4.11, 4.12, 4.15, 4.16 and 4.17), 6.01(f), 6.01(g) (with respect to Significant
Subsidiaries of the Company only), 6.01(h) (with respect to Significant Subsidiaries of the Company only), 6.01(i), 6.01(j), 6.01(k) and 6.01(l), and the Security Documents (“covenant defeasance option”). The Issuers may exercise
their legal defeasance option notwithstanding their prior exercise of their covenant defeasance option. In the event that the Issuers terminate all of their obligations under the Securities and this Indenture (with respect to such Securities) by
exercising their legal defeasance option or their covenant defeasance option, the obligations of each Guarantor under its Guarantee of such Securities shall be terminated simultaneously with the termination of such obligations and the Liens securing
the Securities will be released. 
 If the Issuers exercise their legal defeasance option, payment of the Securities so defeased may not be
accelerated because of an Event of Default. If the Issuers exercise their covenant defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of Default specified in Sections 6.01(c), (d), (e), 6.01(f),
6.01(g) (with respect to Significant Subsidiaries of the Company only), 6.01(h) (with respect to Significant Subsidiaries of the Company only), 6.01(i) (with respect to Significant Subsidiaries of the Company only), 6.01(j), 6.01(k) or 6.01(l) or
because of the failure of the Issuers to comply with Section 5.01. 
 Upon satisfaction of the conditions set forth herein and upon
request of the Issuers, the Trustee shall acknowledge in writing the discharge of those obligations that the Issuers terminate. 
 (d)
Notwithstanding clauses (a) and (b) above, the Issuers’ obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09 and 7.07 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the
Issuers’ obligations in Sections 7.07, 8.05, 8.06 and 11.12 shall survive such satisfaction and discharge. 
 SECTION 8.02.
Conditions to Defeasance. 
 (a) The Issuers may exercise their legal defeasance option or their covenant defeasance option only if:

 (i) the Issuers irrevocably deposit in trust with the Trustee (A) cash in U.S. Dollars, in an amount sufficient,
(B) U.S. Government Obligations, the principal of and the interest on which will be sufficient, or (C) a combination thereof sufficient, in each case when taken together 

  
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with anticipated earnings on such amounts, to pay the principal of, premium (if any) and interest on the applicable Securities when due at maturity or redemption, as the case may be, and the
Issuers must specify whether such Securities are being defeased to maturity or to a particular redemption date; 
 (ii) in
the case of (a)(i)(B) or (a)(i)(C), the Issuers deliver to the Trustee a certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment
on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay principal, premium, if any, and interest when due on all the Securities to
maturity or redemption, as the case may be; 
 (iii) the deposit does not constitute a default under any other agreement
binding on the Issuers, the loss of which could reasonably be expected to result in a material adverse effect on the business and assets of the Issuers (other than a default resulting from the borrowing of funds to be applied to the deposit required
pursuant to clause (i) of this Section 8.02(a) and granting any Lien on such deposit); 
 (iv) in the case of the
legal defeasance option, the Issuers shall have delivered to the Trustee an Opinion of Counsel stating that (1) the Issuers have received from, or there has been published by, the Internal Revenue Service a ruling, or (2) since the date of
this Indenture there has been a change in the applicable U.S. federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders will not recognize income, gain or loss for U.S.
federal income tax purposes as a result of such deposit and defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not
occurred; 
 (v) in the case of the covenant defeasance option, the Issuers shall have delivered to the Trustee an Opinion of
Counsel to the effect that the Holders will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such deposit and defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and
at the same times as would have been the case if such deposit and defeasance had not occurred; and 
 (vi) the Issuers
deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance or discharge of the Securities to be so defeased and discharged as contemplated by this Article 8 have
been complied with. 
 Notwithstanding the foregoing, the Opinion of Counsel required by clause (iv) above need not be delivered if all Securities not
theretofore delivered to the Trustee for cancellation (x) have become due and payable, (y) will become due and payable at their Stated Maturity, or (z) are to be called for redemption within one year under arrangements satisfactory to
the Trustee for the giving of notice of redemption by the Trustee in the names, and at the expense, of the Issuers. 
 (b) Before or after a
deposit, the Issuers may make arrangements satisfactory to the Trustee for the redemption of such Securities at a future date in accordance with Article 3. 

SECTION 8.03. Application of Trust Money. The Trustee shall hold in trust all money and U.S. Government Obligations (including proceeds
thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through each Paying Agent and in accordance with this Indenture to the payment of principal of and interest
on the Securities so discharged or defeased. 

  
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 SECTION 8.04. Repayment to Issuers. Each of the Trustee and each Paying Agent shall
promptly turn over to the Issuers upon request any money or U.S. Government Obligations held by it as provided in this Article 8 which, in the written opinion of a nationally recognized firm of independent public accountants delivered to the Trustee
(which delivery shall only be required if U.S. Government Obligations have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with this
Article 8. 
 The Trustee and each Paying Agent shall pay to the Issuers upon written request any money held by them for the payment of
principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuers for payment as general creditors, and the Trustee and each Paying Agent shall have no further liability with respect
to such monies. 
 SECTION 8.05. Indemnity for U.S. Government Obligations. The Issuers shall pay and shall indemnify the Trustee
against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations deposited with it pursuant to this Article 8 or the principal and interest received on such U.S. Government Obligations. 

SECTION 8.06. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money or U.S. Government Obligations in
accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuers’ obligations under this
Indenture and the Securities so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any Paying Agent is permitted to apply all such money or U.S.
Government Obligations in accordance with this Article 8; provided, however, that, if the Issuers have made any payment of principal of, or interest on, any such Securities because of the reinstatement of their obligations, the
Issuers shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or any Paying Agent. 

ARTICLE 9 
 AMENDMENTS
AND WAIVERS 
 SECTION 9.01. Without Consent of the Holders. Notwithstanding Section 9.02 of this Indenture, the Issuers,
any Guarantor (with respect to a Guarantee or this Indenture) and the Trustee and the Notes Collateral Agent, as applicable, may amend or supplement this Indenture, the Security Documents, the Intercreditor Agreements and any Guarantee or Securities
without notice to or consent of any Holder: 
 (i) to cure any ambiguity, omission, mistake, defect, error or inconsistency;

 (ii) to provide for uncertificated Securities of such series in addition to or in place of certificated Securities; 

(iii) to comply with Article 5; 

(iv) to provide for the assumption of the Issuers’ or any Guarantor’s obligations to the Holders; 

  
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 (v) to make any change that would provide any additional rights or benefits to
the Holders or that does not materially adversely affect the legal rights of any such Holder under this Indenture; 
 (vi) to
add covenants for the benefit of the Holders or to surrender any right or power herein conferred upon the Issuers or any Guarantor; 

(vii) to provide for the issuance of Additional Securities in accordance with the terms hereof, which shall have terms
substantially identical in all material respects to the Securities, and which shall be treated, together with any outstanding Securities, as a single issue of securities; 

(viii) to evidence and provide for the acceptance and appointment hereunder of a successor Trustee pursuant to the requirements
hereof; 
 (ix) to add a Guarantor or a co-obligor of the Securities under this Indenture or to release any such Guarantor or
a Guarantee if at the time of such release such Guarantor is not otherwise required to be a Guarantor; 
 (x) to conform the
text of this Indenture, the Security Documents, the Intercreditor Agreements, Guarantees or the Securities to any provision of the “Description of Secured Notes” section of the Offering Memorandum as evidenced by an Officers’
Certificate of the Company; 
 (xi) to mortgage, pledge, hypothecate or grant any other Lien in favor of the Trustee for the
benefit of the Holders of the Securities, as additional security for the payment and performance of all or any portion of the Second Lien Obligations, in any property or assets, including any which are required to be mortgaged, pledged or
hypothecated, or in which a Lien is required to be granted to or for the benefit of the Trustee or the Notes Collateral Agent pursuant to this Indenture, any of the Security Documents or otherwise; 

(xii) to release Collateral from the Lien granted by this Indenture and the Security Documents or to release Guarantors when
permitted or required by the Security Documents or this Indenture, in each case, in accordance with this Indenture; or 

(xiii) to add replacement ABL Obligations, Additional First Lien Obligations or Additional Second Lien Obligations under the
Intercreditor Agreements. 
 Upon the request of the Issuers, and upon receipt by the Trustee of the documents described in
Section 9.07, the Trustee and, as applicable, the Notes Collateral Agent shall join with the Issuers and, if applicable, the Guarantors in the execution of such supplemental indenture. After an amendment under this Section 9.01 becomes
effective, the Issuers shall mail to Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.01.

 SECTION 9.02. With Consent of the Holders. 

(a) The Issuers, the Guarantors (with respect to a Guarantee or this Indenture), the Trustee and the Notes Collateral Agent (with respect to a
Security Document, an Intercreditor Agreement or this Indenture) may amend this Indenture, the Guarantees, the Security Documents, the Intercreditor Agreements or the Securities with the written consent of the Holders of at least a majority in
principal amount of the Securities then outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange for the Securities). However, without the consent of each Holder of an outstanding Security
affected, an amendment may not: 
 (i) reduce the amount of Securities whose Holders must consent to an amendment; 

  
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 (ii) reduce the rate of or extend the time for payment of interest on any
Security when due; 
 (iii) reduce the principal of or change the Stated Maturity of any Security; 

(iv) reduce the premium payable upon the redemption of any Security in accordance with Article 3; 

(v) make any Security payable in money other than that stated in such Security; 

(vi) impair the right of any Holder to receive payment of, principal of, premium, if any, and interest on such Holder’s
Securities on or after the date due or to institute suit for the enforcement of any payment on or with respect to such Holder’s Securities; 

(vii) make any change in Section 6.07 or the second sentence of this Section 9.02(a); 

(viii) expressly subordinate the Securities or any Guarantee or otherwise modify the ranking thereof to any other Indebtedness
of the Issuers or any Guarantor; 
 (ix) modify the Guarantees in any manner materially adverse to the Holders; or 

(x) make any change in the provisions in the Intercreditor Agreements or this Indenture dealing with the application of
proceeds of Collateral that would materially adversely affect the Holder of the Securities. 
 It shall not be necessary for the consent of the Holders
under this Section 9.02 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 

(b) Notwithstanding the requirements of Section 9.02(a), any amendment to, or waiver of, the provisions of this Indenture or any Security
Document that has the effect of releasing all or substantially all of the Collateral from the Liens securing the Securities or otherwise modifies the Intercreditor Agreements or other Security Documents in any manner that is not contemplated
thereunder will require the consent of the Holders of at least 66.6% in aggregate principal amount of the Securities and the other Second Lien Obligations then outstanding, voting together. 

(c) After an amendment under this Section 9.02 becomes effective, the Issuers shall mail to the Holders a notice briefly describing such
amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.02. 

SECTION 9.03. Amendments Prior to Escrow End Date. Notwithstanding anything to the contrary herein, prior to the applicable Escrow End
Date, any modifications, waivers, amendments, consents or elimination of any provision under this Indenture or the Escrow Agreement related to any matters addressed in Sections 3.09, 3.10 and 4.15 hereof or Sections 3 or 5 of the Escrow Agreement
shall require the consent of Holders of at least 66.6% of the Securities affected thereby (except for modifications or amendments that (i) cure any ambiguity, omission, mistake, defect, error or inconsistency, (ii)

  
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provide additional rights or benefits to the Holders or do not materially adversely affect the legal rights under this Indenture or the Escrow Agreement of the Holders, (iii) evidence or
provide for the acceptance and appointment of a successor Escrow Agent, or (iv) conform the text of this Indenture or the Escrow Agreement to any provision of the Offering Memorandum, which may be made by the Issuers and the Trustee or Escrow
Agent, as applicable). 
 SECTION 9.04. [Reserved]. 

SECTION 9.05. Revocation and Effect of Consents and Waivers. 

(a) A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or
portion of the Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as
to such Holder’s Security or portion of the Security if the Trustee receives the notice of revocation before the date on which the Trustee receives an Officers’ Certificate from the Issuers certifying that the requisite principal amount of
Securities have consented. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective upon the (i) receipt by the Issuers or the Trustee of consents by the Holders of the requisite
principal amount of Securities, (ii) satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto containing such amendment or waiver and (iii) execution of such amendment or waiver (or
supplemental indenture) by the Issuers, the Guarantors, the Trustee and, as applicable, the Notes Collateral Agent. 
 (b) The Issuers may,
but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is
fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent
previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 9.06. Notation on or Exchange of Securities. If an amendment, supplement or waiver changes the terms of a Security, the Issuers
may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Issuers or the Trustee so determine,
the Issuers in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such
amendment, supplement or waiver. 
 SECTION 9.07. Trustee and Notes Collateral Agent to Sign Amendments. The Trustee and, as
applicable, the Notes Collateral Agent, shall sign any amendment, supplement or waiver authorized pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee or the Notes
Collateral Agent. If it does, the Trustee or Notes Collateral Agent may but need not sign it. In signing any amendment, supplement or waiver, the Trustee or Notes Collateral Agent, as applicable, shall be entitled to receive indemnity reasonably
satisfactory to it and shall be provided with, and (subject to Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment, supplement or waiver is authorized or
permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuers and the Guarantors, enforceable against them in accordance with its terms, subject to customary exceptions, and
complies with the provisions hereof (including Section 9.03). 

  
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 SECTION 9.08. Additional Voting Terms; Calculation of Principal Amount. All Securities
issued under this Indenture shall vote and consent together on all matters (as to which any of such Securities may vote) as one class and no series of Securities will have the right to vote or consent as a separate class on any matter.
Determinations as to whether Holders of the requisite aggregate principal amount of Securities have concurred in any direction, waiver or consent shall be made in accordance with this Article 9 and Section 2.14. 

ARTICLE 10 
 GUARANTEES

 SECTION 10.01. Guarantees. 

(a) Prior to the Initial Escrow Release Date, the Securities will not be guaranteed. From and after the Initial Escrow Release Date, the
Securities will be guaranteed by the Guarantors party to the Initial Escrow Release Supplemental Indenture. Each Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees on a senior secured basis, as a primary obligor and
not merely as a surety, to each Holder and to the Trustee and its successors and assigns (i) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all obligations of the Issuers
under this Indenture (including obligations to the Trustee) and the Securities, whether for payment of principal of, premium, if any, or interest on in respect of the Securities and all other monetary obligations of the Issuers under this Indenture,
the Security Documents and the Securities and (ii) the full and punctual performance within applicable grace periods of all other obligations of the Issuers whether for fees, expenses, indemnification or otherwise under this Indenture and the
Securities (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or
further assent from each such Guarantor, and that each such Guarantor shall remain bound under this Article 10 notwithstanding any extension or renewal of any Guaranteed Obligation. 

(b) Each Guarantor waives presentation to, demand of payment from and protest to the Issuers of any of the Guaranteed Obligations and also
waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by (i) the failure of any Holder or the
Trustee to assert any claim or demand or to enforce any right or remedy against the Issuers or any other Person under this Indenture, the Securities or any other agreement or otherwise; (ii) any extension or renewal of this Indenture, the
Securities or any other agreement; (iii) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (iv) the release of any security held by any Holder or
the Trustee for the Guaranteed Obligations or any Guarantor; (v) the failure of any Holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi) any change in the ownership of such
Guarantor, except as provided in Section 10.02(b). 
 (c) Each Guarantor hereby waives any right to which it may be entitled to have
its obligations hereunder divided among the Guarantors, such that such Guarantor’s obligations would be less than the full amount claimed. Each Guarantor hereby waives any right to which it may be entitled to have the assets of the Company
first be used and depleted as payment of the Issuers’ or such Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder. Each Guarantor hereby waives any right to which it may be entitled
to require that the Issuers be sued prior to an action being initiated against such Guarantor. 

  
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 (d) Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment,
performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

(e) Except as expressly set forth in Sections 8.01, 10.02 and 10.06, the obligations of each Guarantor hereunder shall not be
subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be discharged or impaired or
otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure
or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise
operate as a discharge of any Guarantor as a matter of law or equity. 
 (f) Except as set forth in Sections 8.01 and 10.02, each Guarantor
agrees that its Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations. Except as set forth in Sections 8.01 and 10.02, each Guarantor further agrees that its Guarantee herein shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or
reorganization of the Company or otherwise. 
 (g) In furtherance of the foregoing and not in limitation of any other right which any Holder
or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuers to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the
Holders or the Trustee an amount equal to the sum of (i) the unpaid principal amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by applicable law)
and (iii) all other monetary obligations of the Issuers to the Holders and the Trustee in respect of the Guaranteed Obligations. 
 (h)
Each Guarantor agrees that it shall not be entitled to exercise any right of subrogation in relation to the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor
further agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any
Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed
Obligations as provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Guarantor for the purposes of this Section 10.01. 

(i) Each Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the
Trustee or any Holder in enforcing any rights under this Section 10.01. 
 (j) Upon request of the Trustee, each Guarantor shall
execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

  
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 SECTION 10.02. Limitation on Liability. 

(a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations
guaranteed hereunder by any Subsidiary Guarantor shall not exceed the maximum amount that can be hereby guaranteed without rendering this Indenture or the Subsidiary Guarantee, as each relates to such Subsidiary Guarantor, voidable under applicable
law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 
 (b) A
Subsidiary Guarantee as to any Subsidiary Guarantor shall automatically terminate and be of no further force or effect and such Subsidiary Guarantor shall be deemed to be released and discharged from all obligations under this Article 10 upon: 

(i) such Guarantor ceasing to be a Restricted Subsidiary or otherwise not being required to guarantee the obligations under the
Term Loan Facility as a result of a disposition permitted under this Indenture; 
 (ii) such Person is the parent holding
company of a Real Estate Subsidiary party to a Qualified Real Estate Financing Facility if such guaranty is prohibited by the terms of such Qualified Real Estate Financing Facility; 

(iii) the Issuers designating such Subsidiary Guarantor to be an Unrestricted Subsidiary in accordance with the provisions set
forth under Section 4.04 and the definition of “Unrestricted Subsidiary”; 
 (iv) in the case of any
Restricted Subsidiary which is required to guarantee the Securities pursuant to Section 4.11, the release or discharge of the guarantee by such Restricted Subsidiary of Indebtedness of the Issuers or any Restricted Subsidiary of the Company or
such Restricted Subsidiary or the repayment of the Indebtedness or Disqualified Stock, in each case, which resulted in the obligation to guarantee the Securities; 

(v) in the case of any Subsidiary that guarantees or is an obligor of the Term Loan Facility or the ABL Facility, if no Default
or Event of Default shall have occurred and be continuing under this Indenture, the release of such Subsidiary from the guarantee or its obligations under the Term Loan Facility or the ABL Facility; or 

(vi) the Issuers’ exercise of their legal defeasance option or covenant defeasance option as described under
Section 8.01 or if the Issuers’ obligations under this Indenture are discharged in accordance with the terms of this Indenture. 

(c) A Subsidiary Guarantee also shall be automatically released upon the applicable Subsidiary ceasing to be a Subsidiary as a result of any
foreclosure of any pledge or security interest securing Obligations under the Credit Agreements or other exercise of remedies in respect thereof. 

SECTION 10.03. Successors and Assigns. This Article 10 shall be binding upon each Guarantor and its successors and assigns and
shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the 

  
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Trustee, the rights and privileges conferred upon that party in this Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the
terms and conditions of this Indenture. 
 SECTION 10.04. No Waiver. Neither a failure nor a delay on the part of either the Trustee
or the Holders in exercising any right, power or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The
rights, remedies and benefits of the Trustee and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 10 at law, in equity, by statute or
otherwise. 
 SECTION 10.05. Modification. No modification, amendment or waiver of any provision of this Article 10, nor the
consent to any departure by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose
for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other circumstances. 

SECTION 10.06. Execution of Supplemental Indenture for Future Guarantors. Each Subsidiary and each other Person that is required to
become a Guarantor pursuant to Section 4.11 shall promptly execute and deliver to the Trustee (i) if such Subsidiary and/or other Person is required to become a Guarantor on or prior to the Initial Escrow Release Date, an Initial Escrow
Release Date Supplemental Indenture and (i) if such Subsidiary and/or other Person is required to become a Guarantor after the Initial Escrow Release Date, a supplemental indenture in the form of Exhibit D hereto pursuant to which
such Subsidiary or other Person shall become a Guarantor under this Article 10 and shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuers shall deliver to the Trustee
an Opinion of Counsel and an Officers’ Certificate to the effect that such supplemental indenture has been duly authorized, executed and delivered by such Subsidiary or other Person and that, subject to the application of bankruptcy,
insolvency, moratorium, fraudulent conveyance or transfer and other similar laws relating to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is
a legal, valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms. 
 SECTION 10.07.
Non-Impairment. The failure to endorse a Guarantee on any Security shall not affect or impair the validity thereof. 
 ARTICLE 11

 SECURITY 

SECTION 11.01. Security Documents. The due and punctual payment of the principal of, premium and interest on the Securities when and as
the same shall be due and payable, whether on an interest payment date, at maturity, by acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of, premium and interest on the Securities and performance of all other
Obligations of the Issuers and the Guarantors to the Holders, the Notes Collateral Agent and the Trustee under this Indenture, the Securities, the Guarantees, the Intercreditor Agreements and the Security Documents, according to the terms hereunder
or thereunder, shall be secured as provided in the Security Documents, which define the terms of the Liens that secure Second Lien Obligations, subject to the terms of the Intercreditor Agreements. The Trustee, the Issuers and the Guarantors hereby
acknowledge and agree that the Notes Collateral Agent holds the Collateral in trust for the benefit of the Second Lien Secured 

  
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Parties and pursuant to the terms of the Security Documents and the Intercreditor Agreements. Each Holder, by accepting a Security, consents and agrees to the terms of the Security Documents
(including the provisions providing for the possession, use, release and foreclosure of Collateral) and the Intercreditor Agreements as the same may be in effect or may be amended from time to time in accordance with their terms and this Indenture
and the Intercreditor Agreements, and authorizes and directs the Notes Collateral Agent to enter into the Security Documents and the Intercreditor Agreements on the Initial Escrow Release Date, and at any time after the Initial Escrow Release Date,
if applicable, and to perform its obligations and exercise its rights thereunder in accordance therewith. The Issuers shall deliver to the Notes Collateral Agent copies of all documents required to be filed pursuant to the Security Documents, and
will do or cause to be done all such acts and things as may be reasonably required by the next sentence of this Section 11.01, to assure and confirm to the Notes Collateral Agent the security interest in the Collateral contemplated hereby, by
the Security Documents or any part thereof, as from time to time constituted, so as to render the same available for the security and benefit of this Indenture and of the Securities secured hereby and thereby, according to the intent and purposes
herein expressed. The Issuers shall, and shall cause the Restricted Subsidiaries of the Issuers to, take any and all actions and make all filings (including the filing of Uniform Commercial Code financing statements, continuation statements and
amendments thereto) required to cause the Security Documents to create and maintain, as security for the Second Lien Obligations of the Issuers and the Guarantors to the Second Lien Secured Parties under this Indenture, the Securities, the
Guarantees, the Intercreditor Agreements and the Security Documents, a valid and enforceable perfected Lien and security interest in and on all of the Collateral (subject to the terms of the Intercreditor Agreements and the Security Documents), in
favor of the Notes Collateral Agent for the benefit of itself, the Second Lien Secured Parties and the Trustee subject to no Liens other than Permitted Liens. 

Promptly following the Initial Escrow Release Date, the Issuers, the Guarantors and the Notes Collateral Agent shall enter into the Security
Documents establishing the terms of the security interests with respect to the Collateral, substantially in the form delivered to the Term Loan Collateral Agent with appropriate changes. The Issuers and the Guarantors shall take other actions in
connection therewith (including, without limitation, use of commercially reasonable efforts to deliver to the Notes Collateral Agent mortgages, delivery of title insurance policies, surveys, officer’s certificates, opinions of counsel and other
documents substantially in the form delivered to the Term Loan Collateral Agent with appropriate changes) within (i) 180 days following the Initial Escrow Release Date or (ii) if the Term Loan Collateral Agent has agreed to a longer period
(or extension thereof) (notice of which shall be provided to the Notes Collateral Agent) with respect to the Term Loan Collateral Agent to secure the First Lien Obligations, such longer period. Upon delivery to the Notes Collateral Agent of the
title insurance policies, surveys, officer’s certificates, opinions of counsel and other documents substantially in the form delivered to the Term Loan Collateral Agent, there shall also be delivered to the Notes Collateral Agent an
Officers’ Certificate stating that the Issuers and Guarantors have satisfied their obligations under this paragraph, upon which the Notes Collateral Agent may conclusively rely. 

SECTION 11.02. Releases of Collateral. 

(a) Collateral may be released from the Lien and security interest created by the Security Documents at any time and from time to time in
accordance with the provisions of the Security Documents, the Intercreditor Agreements and this Indenture. Notwithstanding anything to the contrary in the Security Documents, the Intercreditor Agreements and this Indenture, the Issuers and the
Guarantors will be entitled to the release of property and other assets constituting Collateral from the Liens securing the Notes, the First Lien Obligations and the ABL Obligations under any one or more of the following circumstances 

(i) at the time of any sale, transfer or other disposition of such property or assets to a person that is not an Issuer or a
Guarantor to the extent not prohibited under Section 4.06; 

  
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 (ii) to the extent the Lien encumbers Collateral that secures or will secure a
Qualified Real Estate Financing Facility, if the Liens on such Collateral securing the ABL Obligations, the First Lien Obligations, the Remaining Safeway Notes and any other Second Lien Obligations are concurrently released; 

(iii) any pledge in favor of the Notes Collateral Agent by a parent holding company of the stock of a Real Estate Subsidiary
that also secures a Qualified Real Estate Financing Facility to the extent such pledge in favor of the Notes Collateral Agent is prohibited by the terms of such Qualified Real Estate Financing Facility, if the Liens on such Collateral securing the
ABL Obligations, the First Lien Obligations, the Remaining Safeway Notes and any other Second Lien Obligations are concurrently released; 

(iv) in the case of a Guarantor that is released from its Guarantee with respect to the Securities pursuant to this Indenture,
the release of the property and assets of such Guarantor; 
 (v) with the consent of the holders of at least 66.6% of the
aggregate principal amount of the Securities then outstanding and affected thereby (including, without limitations, consents obtained in connection with a tender offer or exchange offer for, or purchase of, Securities); 

(vi) as described under Article 9; 

(vii) to the extent required by the Intercreditor Agreements; or 

(viii) to the extent constituting an Excluded Asset as a result of a transaction not prohibited by this Indenture. 

(b) The Liens on the Collateral securing the Securities and the Guarantees also will be released 

(i) upon payment in full of the principal of, together with accrued and unpaid interest on, the Securities and all other
Obligations under this Indenture, the Guarantees and the Security Documents that are due and payable at or prior to the time such principal, together with accrued and unpaid interest, are paid; or 

(ii) upon the exercise of a legal defeasance option or covenant defeasance option under this Indenture as described under
Article 8. 
 (c) With respect to any release of Collateral, upon receipt of an Officers’ Certificate and an Opinion of Counsel each
stating that all conditions precedent under this Indenture and the Security Documents and the Intercreditor Agreements, as applicable, to such release have been met and that it is permitted for the Trustee or Notes Collateral Agent to execute and
deliver the documents requested by the Issuers in connection with such release and any necessary or proper instruments of termination, satisfaction or release prepared by the Issuers, the Trustee and the Notes Collateral Agent shall, execute,
deliver or acknowledge (at the Issuers’ expense) such instruments or releases to evidence the release of any Collateral permitted to be released pursuant to this Indenture or the Security Documents or the Intercreditor Agreements. Neither the
Trustee nor the Notes Collateral Agent shall be liable for any such release undertaken in reliance upon any such Officers’ Certificate or Opinion of Counsel, and notwithstanding any 

  
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term hereof or in any Security Document or in the Intercreditor Agreements to the contrary, the Trustee and the Notes Collateral Agent shall not be under any obligation to release any such Lien
and security interest, or execute and deliver any such instrument of release, satisfaction or termination, unless and until it receives such Officers’ Certificate and Opinion of Counsel. 

SECTION 11.03. Suits to Protect the Collateral. Subject to the provisions of Article 7 and the Security Documents and the Intercreditor
Agreements, the Trustee may or may direct the Notes Collateral Agent to take all actions it determines in order to: 
 (a)
enforce any of the terms of the Security Documents; and 
 (b) collect and receive any and all amounts payable in respect of
the Second Lien Obligations hereunder. 
 Subject to the provisions of the Security Documents and the Intercreditor Agreements, the Trustee and the Notes
Collateral Agent shall have power to institute and to maintain such suits and proceedings as the Trustee may determine to prevent any impairment of the Collateral by any acts which may be unlawful or in violation of any of the Security Documents or
this Indenture, and such suits and proceedings as the Trustee may determine to preserve or protect its interests and the interests of the Holders in the Collateral. Nothing in this Section 11.03 shall be considered to impose any such duty or
obligation to act on the part of the Trustee or the Notes Collateral Agent. 
 SECTION 11.04. Authorization of Receipt of Funds by the
Trustee Under the Security Documents. Subject to the provisions of the Intercreditor Agreements, the Trustee is authorized to receive any funds for the benefit of the Second Lien Secured Parties distributed under the Security Documents, and to
make further distributions of such funds to the Second Lien Secured Parties according to the provisions of the Security Documents. 

SECTION 11.05. Purchaser Protected. In no event shall any purchaser in good faith of any property purported to be released hereunder be
bound to ascertain the authority of the Notes Collateral Agent or the Trustee to execute the release or to inquire as to the satisfaction of any conditions required by the provisions hereof for the exercise of such authority or to see to the
application of any consideration given by such purchaser or other transferee; nor shall any purchaser or other transferee of any property or rights permitted by this Article 11 to be sold be under any obligation to ascertain or inquire into the
authority of the Issuers or the applicable Guarantor to make any such sale or other transfer. 
 SECTION 11.06. Powers Exercisable by
Receiver or Trustee. In case the Collateral shall be in the possession of a receiver or trustee, lawfully appointed, the powers conferred in this Article 11 upon the Issuers or a Guarantor with respect to the release, sale or other disposition
of such property may be exercised by such receiver or trustee, and an instrument signed by such receiver or trustee shall be deemed the equivalent of any similar instrument of the Issuers or a Guarantor or of any Officer or Officers thereof required
by the provisions of this Article 11; and if the Trustee shall be in the possession of the Collateral under any provision of this Indenture, then such powers may be exercised by the Trustee. 

SECTION 11.07. Release Upon Termination of the Issuers’ Obligations. In the event that the Issuers deliver to the Trustee an
Officers’ Certificate certifying that (i) payment in full of the principal of, together with accrued and unpaid interest on, the Securities and all other Obligations under this Indenture, the Securities, the Guarantees and the Security
Documents that were due and payable at or prior to the time such principal, together with accrued and unpaid interest, were paid or (ii) the Issuers shall have exercised their legal defeasance option or their covenant defeasance option, in each
case in compliance with the provisions of Article 8, and in each case, an Opinion of Counsel stating that all conditions 

  
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precedent to the execution and delivery of such notice by the Trustee have been satisfied, the Trustee and the Notes Collateral Agent shall deliver to the Issuers a release of Lien in the
Collateral without recourse, representations or warranties and shall do or cause to be done (at the expense of the Issuers) all acts reasonably requested of them to release such Lien as soon as is reasonably practicable. 

SECTION 11.08. Notes Collateral Agent. 

(a) The Issuers and each of the Holders by acceptance of the Securities hereby designates and appoints the Notes Collateral Agent as its agent
under this Indenture, the Security Documents and the Intercreditor Agreements and the Issuers and each of the Holders by acceptance of the Securities hereby irrevocably authorizes the Notes Collateral Agent to take such action on its behalf under
the provisions of this Indenture, the Security Documents and the Intercreditor Agreements and to exercise such powers and perform such duties as are expressly delegated to the Notes Collateral Agent by the terms of this Indenture, the Security
Documents and the Intercreditor Agreements, and consents and agrees to the terms of the Intercreditor Agreements and each Security Document, as the same may be in effect or may be amended, restated, supplemented or otherwise modified from time to
time in accordance with their respective terms. The Notes Collateral Agent agrees to act as such on the express conditions contained in this Section 11.08. Each Holder agrees that any action taken by the Notes Collateral Agent in accordance
with the provisions of this Indenture, the Intercreditor Agreements and the Security Documents, and the exercise by the Notes Collateral Agent of any rights or remedies set forth herein and therein shall be authorized and binding upon all Holders.
Notwithstanding any provision to the contrary contained elsewhere in this Indenture, the Security Documents and the Intercreditor Agreements, the duties of the Notes Collateral Agent shall be ministerial and administrative in nature, and the Notes
Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein and in the Security Documents and the Intercreditor Agreements to which the Notes Collateral Agent is a party, nor shall the Notes Collateral
Agent have or be deemed to have any trust or other fiduciary relationship with the Trustee, any Holder or any Grantor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Indenture, the
Security Documents and the Intercreditor Agreements or otherwise exist against the Notes Collateral Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” in this Indenture with reference to the Notes
Collateral Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create or
reflect only an administrative relationship between independent contracting parties. 
 (b) The Notes Collateral Agent may perform any of
its duties under this Indenture, the Security Documents or the Intercreditor Agreements by or through receivers, agents, employees, attorneys-in-fact or with respect to any specified Person, such Person’s Affiliates, and the respective
officers, directors, employees, agents, advisors and attorneys-in-fact of such Person and its Affiliates (a “Related Person”), and shall be entitled to advice of counsel concerning all matters pertaining to such duties, and shall be
entitled to act upon, and shall be fully protected in taking action in reliance upon, any advice or opinion given by legal counsel. The Notes Collateral Agent shall not be responsible for the negligence or misconduct of any receiver, agent,
employee, attorney-in-fact or Related Person that it selects as long as such selection was made in good faith and with due care, but such receiver, agent, employee, attorney-in-fact or Related Person shall be liable to the Issuers for any losses
caused by their negligence or misconduct. 
 (c) None of the Notes Collateral Agent or any of its respective Related Persons shall
(i) be liable for any action taken or omitted to be taken by any of them under or in connection with this Indenture or the transactions contemplated hereby (except for its own gross negligence or willful misconduct) or under or in connection
with any Security Document or the Intercreditor Agreements or the transactions 

  
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contemplated thereby (except for its own gross negligence or willful misconduct), or (ii) be responsible in any manner to any of the Trustee or any Holder for any recital, statement,
representation, warranty, covenant or agreement made by the Issuers or any other Grantor or Affiliate of any Grantor, or any Officer or Related Person thereof, contained in this Indenture, the Security Documents or the Intercreditor Agreements, or
in any certificate, report, statement or other document referred to or provided for in, or received by the Notes Collateral Agent under or in connection with, this Indenture, the Security Documents or the Intercreditor Agreements, or the validity,
effectiveness, genuineness, enforceability or sufficiency of this Indenture, the Security Documents or the Intercreditor Agreements, or for any failure of any Grantor or any other party to this Indenture, the Security Documents or the Intercreditor
Agreements to perform its obligations hereunder or thereunder. None of the Trustee, the Notes Collateral Agent or any of its respective Related Persons shall be under any obligation to the Trustee or any Holder to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions of, this Indenture, the Security Documents or the Intercreditor Agreements or to inspect the properties, books, or records of any Grantor or any Grantor’s
Affiliates. 
 (d) The Notes Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing,
resolution, notice, consent, certificate, affidavit, letter, telegram, facsimile, certification, telephone message, statement, or other communication, document or conversation (including those by telephone or e-mail) believed by it in good faith to
be genuine and correct and to have been signed, sent, or made by the proper Person or Persons, and upon advice and statements of legal counsel (including, without limitation, counsel to the Issuers or any other Grantor), independent accountants and
other experts and advisors selected by the Notes Collateral Agent. The Notes Collateral Agent shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, or other paper or document. The Notes Collateral Agent shall be fully justified in failing or refusing to take any action under this Indenture, the Security Documents or the Intercreditor
Agreements unless it shall first receive such advice or concurrence of the Trustee or the Holders of a majority in aggregate principal amount of the Notes as it determines and, if it so requests, it shall first be indemnified to its satisfaction by
the Holders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Except as otherwise provided in the Security Documents, the Notes Collateral Agent shall in all cases be
fully protected in acting, or in refraining from acting, under this Indenture, the Security Documents or the Intercreditor Agreements in accordance with a request, direction, instruction or consent of the Trustee or the Holders of a majority in
aggregate principal amount of the then outstanding Securities and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Holders. 

(e) The Notes Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, unless a
Trust Officer of the Notes Collateral Agent shall have received written notice from the Trustee or the Issuers referring to this Indenture, describing such Default or Event of Default and stating that such notice is a “notice of default.”
The Notes Collateral Agent shall take such action with respect to such Default or Event of Default as may be requested by the Trustee in accordance with Article 6 or the Holders of a majority in aggregate principal amount of the Securities (subject
to this Section 11.08), subject to the terms of the Security Documents. 
 (f) The Notes Collateral Agent may resign at any time by
notice to the Trustee and the Issuers, such resignation to be effective upon the acceptance of a successor agent to its appointment as Notes Collateral Agent. If the Notes Collateral Agent resigns under this Indenture, the Issuers shall appoint a
successor collateral agent. If no successor collateral agent is appointed prior to the intended effective date of the resignation of the Notes Collateral Agent (as stated in the notice of resignation, which date shall not be earlier than 10 Business
Days following the date on which such notice is delivered to the Issuers), 

  
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the Trustee, at the direction of the Holders of a majority of the aggregate principal amount of the Securities then outstanding, may appoint a successor collateral agent, subject to the consent
of the Issuers (which consent shall not be unreasonably withheld and which shall not be required during a continuing payment or bankruptcy Event of Default). If no successor collateral agent is appointed and consented to by the Issuers pursuant to
the preceding sentence within thirty (30) days after the intended effective date of resignation (as stated in the notice of resignation) the Notes Collateral Agent shall be entitled to petition a court of competent jurisdiction to appoint a
successor. Upon the acceptance of its appointment as successor collateral agent hereunder, such successor collateral agent shall succeed to all the rights, powers and duties of the retiring Notes Collateral Agent, and the term “Notes Collateral
Agent” shall mean such successor collateral agent, and the retiring Notes Collateral Agent’s appointment, powers and duties as the Notes Collateral Agent shall be terminated. After the retiring Notes Collateral Agent’s resignation
hereunder, the provisions of this Section 11.08 (and Section 7.07) shall continue to inure to its benefit and the retiring Notes Collateral Agent shall not by reason of such resignation be deemed to be released from liability as to any
actions taken or omitted to be taken by it while it was the Notes Collateral Agent under this Indenture. 
 (g) The Trustee shall initially
act as Notes Collateral Agent and shall be authorized to appoint co-Notes Collateral Agents as necessary in its sole discretion. Except as otherwise explicitly provided herein or in the Security Documents or the Intercreditor Agreements, neither the
Notes Collateral Agent nor any of its respective officers, directors, employees or agents or other Related Persons shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under
any obligation to sell or otherwise dispose of any Collateral upon the request of any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The Notes Collateral Agent shall be accountable only for
amounts that it actually receives as a result of the exercise of such powers, and neither the Notes Collateral Agent nor any of its officers, directors, employees or agents shall be responsible for any act or failure to act hereunder, except for its
own gross negligence or willful misconduct. 
 (h) The Trustee is authorized and directed to enter into, and comply with its obligations
under, the Escrow Agreement. The Notes Collateral Agent is authorized and directed to (i) enter into the Security Documents to which it is party, whether executed on or after the Issue Date, (ii) enter into the Intercreditor Agreements,
(iii) make the representations of the Holders set forth in the Security Documents and Intercreditor Agreements, (iv) bind the Holders on the terms as set forth in the Security Documents and the Intercreditor Agreements and (v) perform
and observe its obligations under the Security Documents and the Intercreditor Agreements. 
 (i) If at any time or times the Trustee shall
receive (i) by payment, foreclosure, set-off or otherwise, any proceeds of Collateral or any payments with respect to the Obligations arising under, or relating to, this Indenture, except for any such proceeds or payments received by the
Trustee from the Notes Collateral Agent pursuant to the terms of this Indenture, or (ii) payments from the Notes Collateral Agent in excess of the amount required to be paid to the Trustee pursuant to Article 6, the Trustee shall promptly turn
the same over to the Notes Collateral Agent, in kind, and with such endorsements as may be required to negotiate the same to the Notes Collateral Agent such proceeds to be applied by the Notes Collateral Agent pursuant to the terms of this
Indenture, the Security Documents and the Intercreditor Agreements. 
 (j) The Notes Collateral Agent is each Holder’s agent for the
purpose of perfecting the Holders’ security interest in assets which, in accordance with Article 9 of the Uniform Commercial Code can be perfected only by possession. Should the Trustee obtain possession of any such Collateral, upon request
from the Issuers, the Trustee shall notify the Notes Collateral Agent thereof and promptly shall deliver such Collateral to the Notes Collateral Agent or otherwise deal with such Collateral in accordance with the Notes Collateral Agent’s
instructions. 

  
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 (k) Neither the Trustee nor the Notes Collateral Agent shall have any obligation whatsoever to
the Trustee or any of the Holders to assure that the Collateral exists or is owned by any Grantor or is cared for, protected, or insured or has been encumbered, or that the Notes Collateral Agent’s Liens have been properly or sufficiently or
lawfully created, perfected, protected, maintained or enforced or are entitled to any particular priority, or to determine whether all of the Grantor’s property constituting collateral intended to be subject to the Lien and security interest of
the Security Documents has been properly and completely listed or delivered, as the case may be, or the genuineness, validity, marketability or sufficiency thereof or title thereto, or to exercise at all or in any particular manner or under any duty
of care, disclosure, or fidelity, or to continue exercising, any of the rights, authorities, and powers granted or available to the Notes Collateral Agent pursuant to this Indenture, any Security Document or the Intercreditor Agreements other than
pursuant to the instructions of the Trustee or the Holders of a majority in aggregate principal amount of the Securities or as otherwise provided in the Security Documents. 

(l) If the Issuers or any Guarantor (i) incurs any obligations in respect of First Lien Obligations, ABL Obligations or Second Lien
Obligations at any time when no applicable intercreditor agreement is in effect or at any time when Indebtedness constituting First Lien Obligations, ABL Obligations or Second Lien Obligations entitled to the benefit of an existing Intercreditor
Agreement is concurrently retired, and (ii) delivers to the Notes Collateral Agent an Officers’ Certificate so stating and requesting the Notes Collateral Agent to enter into an intercreditor agreement (on substantially the same terms as
the applicable Intercreditor Agreement) in favor of a designated agent or representative for the holders of the First Lien Obligations, ABL Obligations or Second Lien Obligations so incurred, together with an Opinion of Counsel, the Notes Collateral
Agent shall (and is hereby authorized and directed to) enter into such intercreditor agreement (at the sole expense and cost of the Issuers, including legal fees and expenses of the Notes Collateral Agent), bind the Holders on the terms set forth
therein and perform and observe its obligations thereunder; provided that neither an Officers’ Certificate nor an Opinion of Counsel shall be required in connection with the applicable Intercreditor Agreements to be entered into by the
Notes Collateral Agent on the Initial Escrow Release Date. 
 (m) No provision of this Indenture, the Intercreditor Agreements or any
Security Document shall require the Notes Collateral Agent (or the Trustee) to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or thereunder or to take or omit to take any
action hereunder or thereunder or take any action at the request or direction of Holders (or the Trustee in the case of the Notes Collateral Agent) unless it shall have received indemnity satisfactory to the Notes Collateral Agent and the Trustee
against potential costs and liabilities incurred by the Notes Collateral Agent relating thereto. Notwithstanding anything to the contrary contained in this Indenture, the Intercreditor Agreements or the Security Documents, in the event the Notes
Collateral Agent is entitled or required to commence an action to foreclose or otherwise exercise its remedies to acquire control or possession of the Collateral, the Notes Collateral Agent shall not be required to commence any such action or
exercise any remedy or to inspect or conduct any studies of any property under the mortgages or take any such other action if the Notes Collateral Agent has determined that the Notes Collateral Agent may incur personal liability as a result of the
presence at, or release on or from, the Collateral or such property, of any hazardous substances. The Notes Collateral Agent shall at any time be entitled to cease taking any action described in this clause if it no longer reasonably deems any
indemnity, security or undertaking from the Issuers or the Holders to be sufficient. The Notes Collateral Agent shall be entitled to the protections specified in clauses (i), (m) and (n) of this Section 7.03. 

  
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 (n) The Notes Collateral Agent (i) shall not be liable for any action taken or omitted to be
taken by it in connection with this Indenture, the Intercreditor Agreements and the Security Documents or instrument referred to herein or therein, except to the extent that any of the foregoing are found by a final, non-appealable judgment of a
court of competent jurisdiction to have resulted from its own gross negligence or willful misconduct, (ii) shall not be liable for interest on any money received by it except as the Notes Collateral Agent may agree in writing with the Issuers
(and money held in trust by the Notes Collateral Agent need not be segregated from other funds except to the extent required by law) and (iii) may consult with counsel of its selection and the advice or opinion of such counsel as to matters of
law shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it in good faith in reliance upon the advice or opinion of such counsel. The grant of permissive rights or powers to
the Notes Collateral Agent shall not be construed to impose duties to act. 
 (o) Neither the Notes Collateral Agent nor the Trustee shall
be liable for delays or failures in performance resulting from acts beyond its control. Such acts shall include but not be limited to acts of God, strikes, lockouts, riots, acts of war, epidemics, governmental regulations superimposed after the
fact, fire, communication line failures, computer viruses, power failures, earthquakes or other disasters. Neither the Notes Collateral Agent nor the Trustee shall be liable for any indirect, special, punitive, incidental or consequential damages
(included but not limited to lost profits) whatsoever, even if it has been informed of the likelihood thereof and regardless of the form of action. 

(p) The Notes Collateral Agent does not assume any responsibility for any failure or delay in performance or any breach by the Issuers or any
other Grantor under this Indenture, the Intercreditor Agreements and the Security Documents. The Notes Collateral Agent shall not be responsible to the Holders or any other Person for any recitals, statements, information, representations or
warranties contained in this Indenture, the Security Documents, the Intercreditor Agreements or in any certificate, report, statement, or other document referred to or provided for in, or received by the Notes Collateral Agent under or in connection
with, this Indenture, the Intercreditor Agreements or any Security Document; the execution, validity, genuineness, effectiveness or enforceability of the Intercreditor Agreements and any Security Documents of any other party thereto; the
genuineness, enforceability, collectability, value, sufficiency, location or existence of any Collateral, or the validity, effectiveness, enforceability, sufficiency, extent, perfection or priority of any Lien therein; the validity, enforceability
or collectability of any Obligations; the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal status of any obligor; or for any failure of any obligor to perform its Obligations under this Indenture,
the Intercreditor Agreements and the Security Documents. The Notes Collateral Agent shall have no obligation to any Holder or any other Person to ascertain or inquire into the existence of any Default or Event of Default, the observance or
performance by any obligor of any terms of this Indenture, the Intercreditor Agreements and the Security Documents, or the satisfaction of any conditions precedent contained in this Indenture, the Intercreditor Agreements and any Security Documents.
The Notes Collateral Agent shall not be required to initiate or conduct any litigation or collection or other proceeding under this Indenture, the Intercreditor Agreements and the Security Documents unless expressly set forth hereunder or
thereunder. The Notes Collateral Agent shall have the right at any time to seek instructions from the Holders with respect to the administration of this Indenture, the Security Documents and the Intercreditor Agreements. 

(q) The parties hereto and the Holders hereby agree and acknowledge that neither the Notes Collateral Agent nor the Trustee shall assume, be
responsible for or otherwise be obligated for any liabilities, claims, causes of action, suits, losses, allegations, requests, demands, penalties, fines, settlements, damages (including foreseeable and unforeseeable), judgments, expenses and costs
(including but not limited to, any remediation, corrective action, response, removal or remedial action, or investigation, 

  
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operations and maintenance or monitoring costs, for personal injury or property damages, real or personal) of any kind whatsoever, pursuant to any environmental law as a result of this Indenture,
the Intercreditor Agreements, the Security Documents or any actions taken pursuant hereto or thereto. Further, the parties hereto and the Holders hereby agree and acknowledge that in the exercise of its rights under this Indenture, the Intercreditor
Agreements and the Security Documents, the Notes Collateral Agent or the Trustee may hold or obtain indicia of ownership primarily to protect the security interest of the Notes Collateral Agent or the Trustee in the Collateral and that any such
actions taken by the Notes Collateral Agent or the Trustee shall not be construed as or otherwise constitute any participation in the management of such Collateral. In the event that the Notes Collateral Agent or the Trustee is required to acquire
title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in the Notes Collateral Agent’s or the Trustee’s sole
discretion may cause the Notes Collateral Agent or the Trustee to be considered an “owner or operator” under the provisions of the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), 42 U.S.C.
§9601, et seq., or otherwise cause the Notes Collateral Agent or the Trustee to incur liability under CERCLA or any other federal, state or local law, the Notes Collateral Agent and the Trustee reserves the right, instead of taking such
action, to either resign as the Notes Collateral Agent or the Trustee or arrange for the transfer of the title or control of the asset to a court-appointed receiver. Neither the Notes Collateral Agent nor the Trustee shall be liable to the Issuers,
the Company, the Guarantors or any other Person for any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Notes Collateral Agent’s or the Trustee’s actions and conduct
as authorized, empowered and directed hereunder or relating to the discharge, release or threatened release of hazardous materials into the environment. If at any time it is necessary or advisable for property to be possessed, owned, operated or
managed by any Person (including the Notes Collateral Agent or the Trustee) other than the Issuers or the Guarantors, subject to the terms of the Security Documents, a majority in interest of Holders shall direct the Notes Collateral Agent or the
Trustee to appoint an appropriately qualified Person (excluding the Notes Collateral Agent or the Trustee) who they shall designate to possess, own, operate or manage, as the case may be, the property. 

(r) Upon the receipt by the Notes Collateral Agent of a written request of the Issuers signed by an Officer (a “Security Document
Order”), the Notes Collateral Agent is hereby authorized to execute and enter into, and shall execute and enter into, without the further consent of any Holder or the Trustee, any Security Document to be executed after the Issue Date. Such
Security Document Order shall (i) state that it is being delivered to the Notes Collateral Agent pursuant to, and is a Security Document Order referred to in, this Section 11.08(r), and (ii) instruct the Notes Collateral Agent to
execute and enter into such Security Document; provided that in no event shall the Notes Collateral Agent be required to enter into a Security Document that it determines adversely affects the Notes Collateral Agent in a commercially
unreasonable manner (taking into account other security documents it has recently agreed to in similar secured notes transactions). Any such execution of a Security Document shall be at the direction and reasonable expense of the Issuers, upon
delivery to the Notes Collateral Agent of an Officers’ Certificate and Opinion of Counsel stating that all conditions precedent to the execution and delivery of the Security Document have been satisfied. The Holders, by their acceptance of the
Notes, hereby authorize and direct the Notes Collateral Agent to execute such Security Documents. 
 (s) Subject to the provisions of the
applicable Security Documents and the Intercreditor Agreements, each Holder, by acceptance of the Securities, agrees that the Notes Collateral Agent shall execute and deliver the Intercreditor Agreements and the Security Documents to which it is a
party and all agreements, documents and instruments incidental thereto, and act in accordance with the terms thereof. For the avoidance of doubt, except as otherwise provided in the Security Documents, the Notes Collateral Agent shall have no
discretion under this Indenture, the Intercreditor Agreements or the Security Documents and shall not be required to make or give any determination, consent, approval, request or direction without the written direction of the Holders of a majority
in aggregate principal amount of the then outstanding Securities or the Trustee, as applicable. 

  
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 (t) After the occurrence and continuance of an Event of Default, the Trustee, acting at the
direction of the Holders of a majority of the aggregate principal amount of the Securities then outstanding, may direct the Notes Collateral Agent in connection with any action required or permitted by this Indenture, the Security Documents or the
Intercreditor Agreements. 
 (u) The Notes Collateral Agent is authorized to receive any funds for the benefit of itself, the Trustee and
the Holders distributed under the Security Documents or the Intercreditor Agreements and to the extent not prohibited under the Intercreditor Agreements, for turnover to the Trustee to make further distributions of such funds to itself, the Trustee
and the Holders in accordance with the provisions of Section 6.10 and the other provisions of this Indenture. 
 (v) In each case that
the Notes Collateral Agent may or is required hereunder or under any Security Document or any Intercreditor Agreement to take any action (an “Action”), including without limitation to make any determination, to give consents, to
exercise rights, powers or remedies, to release or sell Collateral or otherwise to act hereunder or under any Security Document or any Intercreditor Agreement, the Notes Collateral Agent may seek direction from the Holders of a majority in aggregate
principal amount of the then outstanding Securities. The Notes Collateral Agent shall not be liable with respect to any Action taken or omitted to be taken by it in accordance with the direction from the Holders of a majority in aggregate principal
amount of the then outstanding Securities. If the Notes Collateral Agent shall request direction from the Holders of a majority in aggregate principal amount of the then outstanding Securities with respect to any Action, the Notes Collateral Agent
shall be entitled to refrain from such Action unless and until the Notes Collateral Agent shall have received direction from the Holders of a majority in aggregate principal amount of the then outstanding Securities, and the Notes Collateral Agent
shall not incur liability to any Person by reason of so refraining. 
 (w) Notwithstanding anything to the contrary in this Indenture or in
any Security Document or any Intercreditor Agreement, in no event shall the Notes Collateral Agent or the Trustee be responsible for, or have any duty or obligation with respect to, the recording, filing, registering, perfection, protection or
maintenance of the security interests or Liens intended to be created by this Indenture, the Security Documents or the Intercreditor Agreements (including without limitation the filing or continuation of any Uniform Commercial Code financing or
continuation statements or similar documents or instruments), nor shall the Notes Collateral Agent or the Trustee be responsible for, and neither the Notes Collateral Agent nor the Trustee makes any representation regarding, the validity,
effectiveness or priority of any of the Security Documents or the security interests or Liens intended to be created thereby. 
 (x) Before
the Notes Collateral Agent acts or refrains from acting in each case at the request or direction of the Issuers or the Guarantors, it may require an Officers’ Certificate and an Opinion of Counsel, which shall conform to the provisions of this
Section 11.08. The Notes Collateral Agent shall not be liable for any action it takes or omits to take in good faith in reliance on such certificate or opinion. 

(y) Notwithstanding anything to the contrary contained herein but subject to the Security Documents, the Notes Collateral Agent shall act
pursuant to the instructions of the Holders and the Trustee solely with respect to the Security Documents and the Collateral. 
 (z) The
Notes Collateral Agent, in executing and performing its duties under the Security Documents, shall be entitled to all of the rights, protections, immunities and indemnities granted to it hereunder. 

  
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 ARTICLE 12 

[RESERVED] 
 ARTICLE 13

 MISCELLANEOUS 

SECTION 13.01. [Reserved]. 

SECTION 13.02. Notices. 

(a) Any notice or communication required or permitted hereunder shall be in writing and delivered in person, via facsimile or mailed by
first-class mail addressed as follows: 
 if to the Issuers or a Guarantor: 

Albertson’s Holdings LLC 

250 Parkcenter Blvd. 
 Boise,
Idaho 83706 
 Facsimile: (208) 395-6349 

Attention: Chief Financial Officer 

with a copy to: 
 Albertson’s
Holdings LLC 
 250 Parkcenter Blvd. 

Boise, Idaho 83706 
 Facsimile:
(208) 395-6349 
 Attention: General Counsel 

if to the Trustee: 
 Wilmington
Trust, National Association 
 50 South Sixth Street, Suite 1290 

Minneapolis, MN 55402 
 Facsimile:
612-217-5651 
 Attn: Albertson’s Administration 

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

(b) Any notice or communication mailed to a Holder shall be mailed, first class mail, to the Holder at the Holder’s address as it appears
on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 
 (c) Failure to mail a
notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it,
except that notices to the Trustee are effective only if received. 

  
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 Notwithstanding any other provision of this Indenture or any Security, where this Indenture or
any Security provides for notice of any event (including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depository for such Security (or its
designee), pursuant to the customary procedures of such Depository. 
 SECTION 13.03. Communication by the Holders with Other
Holders. The Holders may communicate pursuant to Section 312(b) of the TIA with other Holders with respect to their rights under this Indenture or the Securities. The Issuers, the Trustee, the Registrar and other Persons shall have the
protection of Section 312(c) of the TIA. 
 SECTION 13.04. Certificate and Opinion as to Conditions Precedent. Upon any request
or application by the Issuers to the Trustee or the Notes Collateral Agent to take or refrain from taking any action under this Indenture, the Issuers shall furnish to the Trustee or the Notes Collateral Agent, as applicable, at the request of the
Trustee: 
 (a) an Officers’ Certificate in form reasonably satisfactory to the Trustee or the Notes Collateral Agent,
as applicable, stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(b) an Opinion of Counsel in form reasonably satisfactory to the Trustee or the Notes Collateral Agent, as applicable, stating
that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 SECTION 13.05. Statements Required in
Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section 4.09) shall include: 

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

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

(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with;
provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials. 

SECTION 13.06. When Securities Disregarded. In determining whether the Holders of the required principal amount of Securities have
concurred in any direction, waiver or consent, Securities owned by any Issuer, any Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with any Issuer or any Guarantor shall be
disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a Trust Officer of the Trustee knows are so
owned shall be so disregarded. Subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 

  
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 SECTION 13.07. Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by or a meeting of the Holders. The Registrar and a Paying Agent may make reasonable rules for their functions. 

SECTION 13.08. Legal Holidays. If a payment date is not a Business Day, payment shall be made on the next succeeding day that is a
Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the intervening period. If a regular record date is not a Business Day, the record date shall not be
affected. 
 SECTION 13.09. Governing Law. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 13.10. No Recourse Against Others. No director, officer,
employee, incorporator or holder of any equity interests in any Issuer or of any Guarantor or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuers or the Guarantors under the Securities or
this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. 

SECTION 13.11. Successors. All agreements of the Issuers and each Guarantor in this Indenture and the Securities shall bind their
respective successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION 13.12. Multiple
Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. Delivery of an executed
counterpart of a signature page to this Indenture by telecopier, facsimile or other electronic transmission (i.e., a “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart thereof. 

SECTION 13.13. Table of Contents; Headings. The table of contents, cross-reference sheet and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

SECTION 13.14. Indenture Controls. If and to the extent that any provision of the Securities limits, qualifies or conflicts with a
provision of this Indenture, such provision of this Indenture shall control. 
 SECTION 13.15. Severability. In case any provision in
this Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. 
 SECTION 13.16. Waiver of Jury Trial. EACH OF THE ISSUERS, THE GUARANTORS, THE TRUSTEE,
THE PAYING AGENT, THE REGISTRAR AND THE NOTES COLLATERAL AGENT HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

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

					
	ALBERTSON’S HOLDINGS LLC
		
	By:		 /s/ Robert B. Dimond

			Name:		Robert B. Dimond
			Title:		Chief Financial Officer
	
	SATURN ACQUISITION MERGER SUB, INC.
		
	By:		 /s/ Paul Rowan

			Name:		Paul Rowan
			Title:		Treasurer

  
 S-1 

 
					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Trustee

		
	By:		 /s/ Hallie E. Field

			Name:		Hallie E. Field
			Title:		Banking Officer

  
 S-2 

 
					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Notes Collateral Agent

		
	By:		 /s/ Hallie E. Field

			Name:		Hallie E. Field
			Title:		Banking Officer

  
 S-3 

 APPENDIX A 

PROVISIONS RELATING TO SECURITIES 
  

	 	1.	Definitions. 

  

	 	1.1	Definitions. 

 For the purposes of this Appendix A the following terms shall have the
meanings indicated below: 
 “Clearstream” means Clearstream Banking, société anonyme, or any
successor securities clearing agency. 
 “Definitive Security” means a certificated Security (bearing the Restricted
Securities Legend if the transfer of such Security is restricted by applicable law) that does not include the Global Securities Legend. 

“Depository” means, with respect to the Securities, The Depository Trust Company, its nominees and their respective
successors. 
 “Euroclear” means the Euroclear Clearance System or any successor securities clearing agency. 

“Global Securities Legend” means the legend set forth under that caption in the applicable Exhibit to this Indenture. 

“IAI” means an institutional “accredited investor” as described in Rule 501(a)(1), (2), (3) or
(7) under the Securities Act. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Regulation S” means Regulation S under the Securities Act. 

“Regulation S Securities” means all Securities offered and sold outside the United States in reliance on Regulation S.

 “Restricted Period,” with respect to any Securities, means the period of 40 consecutive days beginning on and including
the later of (a) the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given by the
Issuers to the Trustee, and (b) the Issue Date, and with respect to any Additional Securities that are Transfer Restricted Definitive Securities, it means the comparable period of 40 consecutive days. 

“Restricted Securities Legend” means the legend set forth in Section 2.2(f)(i) of this Appendix A. 

“Rule 501” means Rule 501(a)(1), (2), (3) or (7) under the Securities Act. 

“Rule 144A” means Rule 144A under the Securities Act. 

 “Rule 144A Securities” means all Securities offered and sold to QIBs in reliance
on Rule 144A. 
 “Securities Custodian” means the custodian with respect to a Global Security (as appointed by the
Depository) or any successor person thereto, who shall initially be the Trustee. 
 “Transfer Restricted Definitive
Securities” means Definitive Securities and any other Securities that bear or are required to bear or are subject to the Restricted Securities Legend. 

“Transfer Restricted Global Securities” means Global Securities bearing the Restricted Securities Legend. 

“Unrestricted Definitive Security” means Definitive Securities and any other Securities that are not required to bear, or are
not subject to, the Restricted Securities Legend. 
 “Unrestricted Global Security” means a Global Security that does not
bear the Restricted Securities Legend. 
  

	 	1.2	Other Definitions. 

  

			
	Term:	  	Defined in Section:
		
	“Agent Members”	  	2.1(b)
	“Global Securities”	  	2.1(b)
	“Regulation S Global Securities”	  	2.1(b)
	“Rule 144A Global Securities”	  	2.1(b)

  

	 	2.	The Securities. 

  

	 	2.1	Form and Dating; Global Securities. 

 (a) The Securities issued on the date hereof will
be (i) offered and sold by the Issuers pursuant to the Purchase Agreement and (ii) resold, initially only to (1) QIBs in reliance on Rule 144A and (2) Persons other than U.S. Persons (as defined in Regulation S) in reliance
on Regulation S. Such Securities may thereafter be transferred to, among others, QIBs, purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. Additional Securities offered after the date hereof
may be offered and sold by the Issuers from time to time pursuant to one or more purchase agreements in accordance with applicable law. 

(b) Global Securities. (i) Rule 144A Securities initially shall be represented by one or more Securities in fully registered,
global form without interest coupons (collectively, the “Rule 144A Global Securities”). Regulation S Securities initially shall be represented by one or more Securities in fully registered, global form without interest coupons
(collectively, the “Regulation S Global Securities”). The term “Global Securities” means, collectively, the Rule 144A Global Securities and the Regulation S Global Securities. The Global Securities shall bear the
Global Security Legend. The Global Securities initially shall (i) be registered in the name of the Depository or the nominee of such Depository, in each case for credit to an account of an Agent Member, (ii) be delivered to the Trustee as
custodian for such Depository and (iii) bear the Restricted Securities Legend. 

  
 -2- 

 Members of, or direct or indirect participants in, the Depository, Euroclear or Clearstream
(“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depository or under the Global Securities. The Depository may be treated by the Issuers, the Trustee and any
agent of the Issuers or the Trustee as the absolute owner of the Global Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuers, the Trustee or any agent of the Issuers or the Trustee from
giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository, Euroclear or Clearstream, as the case may be, and their respective Agent Members, the operation of customary
practices governing the exercise of the rights of a Holder of any Security. 
 (ii) Transfers of Global Securities shall be limited to
transfers in whole, but not in part, to the Depository, its successors or their respective nominees. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Definitive Securities only in accordance with the
applicable rules and procedures of the Depository, Euroclear or Clearstream, as the case may be, and the provisions of Section 2.2 of this Appendix A. In addition, a Global Security shall be exchangeable for Definitive Securities if
(i) the Depository (x) notifies the Issuers that it is unwilling or unable to continue as depository for such Global Security and the Issuers thereupon fail to appoint a successor depository or (y) has ceased to be a clearing agency
registered under the Exchange Act, or (ii) there shall have occurred and be continuing an Event of Default with respect to such Global Security and the Depository or the Issuers request the issuance of such Definitive Securities. In all cases,
Definitive Securities delivered in exchange for any Global Security or beneficial interests therein shall be registered in the names, and issued in any approved denominations, requested in writing by or on behalf of the Depository, in accordance
with its customary procedures. 
 (iii) In connection with the transfer of a Global Security as an entirety to beneficial owners pursuant to
subsection (i) of this Section 2.1(b), such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuers shall execute, and the Trustee shall authenticate and make available for delivery, to each
beneficial owner identified by the Depository in writing in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. 

(iv) Any Transfer Restricted Definitive Security delivered in exchange for an interest in a Global Security pursuant to Section 2.2 of
this Appendix A shall, except as otherwise provided in Section 2.2 of this Appendix A, bear the Restricted Securities Legend. 
 (v)
Notwithstanding the foregoing, through the Restricted Period, a beneficial interest in such Regulation S Global Security may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of
Section 2.2 of this Appendix A. 
 (vi) The Holder of any Global Security may grant proxies and otherwise authorize any Person,
including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 

 

	 	2.2	Transfer and Exchange. 

 (a) Transfer and Exchange of Global Securities. A Global
Security may not be transferred as a whole except as set forth in Section 2.1(b) of this Appendix A. Global Securities will not be exchanged by the Issuers for Definitive Securities except under the circumstances described in
Section 2.1(b)(ii) of this Appendix A. Global Securities also may be exchanged or replaced, in whole or in part, as provided in Sections 2.08 and 2.10 of this Indenture. Beneficial interests in a Global Security may be transferred and exchanged
as provided in Section 2.2(b) or 2.2(g) of this Appendix A. 

  
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 (b) Transfer and Exchange of Beneficial Interests in Global Securities. The transfer and
exchange of beneficial interests in the Global Securities shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Transfer
Restricted Global Securities shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers and exchanges of beneficial interests in the Global Securities also shall require
compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(i) Transfer of Beneficial Interests in the Same Global Security. Beneficial interests in any Transfer Restricted Global
Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Transfer Restricted Global Security in accordance with the transfer restrictions set forth in the Restricted Securities Legend;
provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Security may not be made to a U.S. Person or for the account or benefit of a U.S. Person (other than
an Initial Purchaser). A beneficial interest in an Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security. No written orders or instructions shall
be required to be delivered to the Registrar to effect the transfers described in this Section 2.2(b)(i). 
 (ii) All
Other Transfers and Exchanges of Beneficial Interests in Global Securities. In connection with all transfers and exchanges of beneficial interests in any Global Security that is not subject to Section 2.2(b)(i) of this Appendix A, the
transferor of such beneficial interest must deliver to the Registrar (1) a written order from an Agent Member given to the Depository in accordance with the applicable rules and procedures of the Depository directing the Depository to credit or
cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the applicable rules and procedures of the
Depository containing information regarding the Agent Member account to be credited with such increase; provided that in no event shall a beneficial interest in a Global Security be credited, or an Unrestricted Definitive Security be issued,
to a Person who is an affiliate (as defined in Rule 144 under the Securities Act) of the Issuers. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the
Securities or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security pursuant to Section 2.2(g) of this Appendix A. 

(iii) Transfer of Beneficial Interests to Another Transfer Restricted Global Security. A beneficial interest in a
Transfer Restricted Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Transfer Restricted Global Security if the transfer complies with the requirements of
Section 2.2(b)(ii) of this Appendix A and the Registrar receives the following: 
 (A) if the transferee will take
delivery in the form of a beneficial interest in a Rule 144A Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security; and 

(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Security, then the
transferor must deliver a certificate in the form attached to the applicable Security. 
 (iv) Transfer and Exchange of
Beneficial Interests in a Transfer Restricted Global Security for Beneficial Interests in an Unrestricted Global Security. A beneficial interest in a Transfer 

  
 -4- 

 
Restricted Global Security may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Security or transferred to a Person who takes delivery thereof in the form of
a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of Section 2.2(b)(ii) of this Appendix A and the Registrar receives the following: 

(A) if the holder of such beneficial interest in a Transfer Restricted Global Security proposes to exchange such beneficial
interest for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security; or 

(B) if the holder of such beneficial interest in a Transfer Restricted Global Security proposes to transfer such beneficial
interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security, 

and, in each such case, if the Issuers so request or if the applicable rules and procedures of the Depository, Euroclear or Clearstream, as
applicable, so require, an Opinion of Counsel in form reasonably acceptable to the Issuers to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph (iv) at a time when an Unrestricted Global Security has not
yet been issued, the Issuers shall issue and, upon receipt of an written order of the Issuers in the form of an Officers’ Certificate in accordance with Section 2.01, the Trustee shall authenticate one or more Unrestricted Global
Securities in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred or exchanged pursuant to this subparagraph (iv). 

(v) Transfer and Exchange of Beneficial Interests in an Unrestricted Global Security for Beneficial Interests in a Transfer
Restricted Global Security. Beneficial interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Transfer Restricted Global Security. 

(c) Transfer and Exchange of Beneficial Interests in Global Securities for Definitive Securities. A beneficial interest in a Global
Security may not be exchanged for a Definitive Security except under the circumstances described in Section 2.1(b)(ii) of this Appendix A. A beneficial interest in a Global Security may not be transferred to a Person who takes delivery thereof
in the form of a Definitive Security except under the circumstances described in Section 2.1(b)(ii) of this Appendix A. 
 (d)
Transfer and Exchange of Definitive Securities for Beneficial Interests in Global Securities. Transfers and exchanges of beneficial interests in the Global Securities shall require compliance with either subparagraph (i), (ii) or
(iii) below, as applicable: 
 (i) Transfer Restricted Definitive Securities to Beneficial Interests in Transfer
Restricted Global Securities. If any Holder of a Transfer Restricted Definitive Security proposes to exchange such Transfer Restricted Definitive Security for a beneficial interest in a Transfer Restricted Global Security or to transfer such
Transfer Restricted Definitive Security to a Person who takes delivery thereof in the form of a beneficial interest in a Transfer Restricted Global Security, then, upon receipt by the Registrar of the following documentation: 

(A) if the Holder of such Transfer Restricted Definitive Security proposes to exchange such Transfer Restricted Definitive
Security for a beneficial interest in a Transfer Restricted Global Security, a certificate from such Holder in the form attached to the applicable Security; 

  
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 (B) if such Transfer Restricted Definitive Security is being transferred to a QIB
in accordance with Rule 144A under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; 

(C) if such Transfer Restricted Definitive Security is being transferred to a non-U.S. person (as defined in Regulation S) in
an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; 

(D) if such Transfer Restricted Definitive Security is being transferred pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; 

(E) if such Transfer Restricted Definitive Security is being transferred to an IAI in reliance on an exemption from the
registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate from such Holder in the form attached to the applicable Security, including the certifications, certificates and
Opinion of Counsel, if applicable; or 
 (F) if such Transfer Restricted Definitive Security is being transferred to the
Issuers or a Subsidiary thereof, a certificate from such Holder in the form attached to the applicable Security; 
 the Trustee shall cancel
the Transfer Restricted Definitive Security, and increase or cause to be increased the aggregate principal amount of the appropriate Transfer Restricted Global Security. 

(ii) Transfer Restricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of a
Transfer Restricted Definitive Security may exchange such Transfer Restricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Transfer Restricted Definitive Security to a Person who takes delivery
thereof in the form of a beneficial interest in an Unrestricted Global Security only if the Registrar receives the following: 

(A) if the Holder of such Transfer Restricted Definitive Security proposes to exchange such Transfer Restricted Definitive
Security for a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security; or 

(B) if the Holder of such Transfer Restricted Definitive Security proposes to transfer such Transfer Restricted Definitive
Security to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security, 

and, in each such case, if the Issuers so request or if the applicable rules and procedures of the Depository, Euroclear or Clearstream, as
applicable, so require, an Opinion of Counsel in form 

  
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reasonably acceptable to the Issuers to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall cancel the Transfer Restricted Definitive Securities and
increase or cause to be increased the aggregate principal amount of the Unrestricted Global Security. If any such transfer or exchange is effected pursuant to this subparagraph (ii) at a time when an Unrestricted Global Security has not yet
been issued, the Issuers shall issue and, upon receipt of an written order of the Issuers in the form of an Officers’ Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal
to the aggregate principal amount of Transfer Restricted Definitive Securities transferred or exchanged pursuant to this subparagraph (ii). 

(iii) Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of an
Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Unrestricted Definitive Security to a Person who takes delivery thereof in the form of
a beneficial interest in an Unrestricted Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Security and increase or cause to be increased the
aggregate principal amount of one of the Unrestricted Global Securities. If any such transfer or exchange is effected pursuant to this subparagraph (iii) at a time when an Unrestricted Global Security has not yet been issued, the Issuers shall
issue and, upon receipt of an written order of the Issuers in the form of an Officers’ Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal
amount of Unrestricted Definitive Securities transferred or exchanged pursuant to this subparagraph (iii). 
 (iv)
Unrestricted Definitive Securities to Beneficial Interests in Transfer Restricted Global Securities. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a
beneficial interest in a Transfer Restricted Global Security. 
 (e) Transfer and Exchange of Definitive Securities for Definitive
Securities. Upon request by a Holder of Definitive Securities and such Holder’s compliance with the provisions of this Section 2.2(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such
registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed
by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this
Section 2.2(e). 
 (i) Transfer Restricted Definitive Securities to Transfer Restricted Definitive Securities. A
Transfer Restricted Definitive Security may be transferred to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Definitive Security if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a certificate
in the form attached to the applicable Security; 

  
 -7- 

 (B) if the transfer will be made pursuant to Rule 903 or Rule 904 under the
Securities Act, then the transferor must deliver a certificate in the form attached to the applicable Security; 
 (C) if the
transfer will be made pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate in the form attached to the applicable Security; 

(D) if the transfer will be made to an IAI in reliance on an exemption from the registration requirements of the Securities Act
other than those listed in subparagraphs (A) through (C) above, a certificate in the form attached to the applicable Security; and 

(E) if such transfer will be made to the Issuers or a Subsidiary thereof, a certificate in the form attached to the applicable
Security. 
 (ii) Transfer Restricted Definitive Securities to Unrestricted Definitive Securities. Any Transfer
Restricted Definitive Security may be exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security if the Registrar receives the
following: 
 (1) if the Holder of such Transfer Restricted Definitive Security proposes to exchange such Transfer Restricted
Definitive Security for an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security; or 

(2) if the Holder of such Transfer Restricted Definitive Security proposes to transfer such Securities to a Person who shall
take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security, 

and, in each such case, if the Issuers so request, an Opinion of Counsel in form reasonably acceptable to the Issuers to the effect that such
exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. 

(iii) Unrestricted Definitive Securities to Unrestricted Definitive Securities. A Holder of an Unrestricted Definitive
Security may transfer such Unrestricted Definitive Security to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security at any time. Upon receipt of a request to register such a transfer, the Registrar shall register
the Unrestricted Definitive Security pursuant to the instructions from the Holder thereof. 
 (iv) Unrestricted Definitive
Securities to Transfer Restricted Definitive Securities. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Definitive Security. 

At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global
Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with Section 2.11 of this Indenture. At any time prior to such
cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security or for Definitive Securities,

  
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the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository,
at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other
Global Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository, at the direction of the Trustee to reflect such increase. 

(f) Legend. 
 (i) Except
as permitted by the following paragraphs (ii), (iii) or (iv), each Security certificate evidencing the Global Securities and the Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a
legend in substantially the following form (each defined term in the legend being defined as such for purposes of the legend only): 

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, REGISTRATION. 
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (B) IT IS A NON-U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT AND
IN ACCORDANCE WITH THE LAWS APPLICABLE TO SUCH PURCHASER IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, OR (C) IT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501 UNDER THE SECURITIES ACT AND (2) AGREES TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE EXPIRATION OF THE APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH IN RULE 144 UNDER THE SECURITIES ACT, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF,
(B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN
THE MEANING OF REGULATION S UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO IT IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, (D) TO AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501 UNDER THE
SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH,

  
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ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S, OR REGISTRAR’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (C),
(D) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS
SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE OR REGISTRAR. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE EXPIRATION OF THE APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH IN
RULE 144 UNDER THE SECURITIES ACT.” 
 Each Regulation S Security that is a Temporary Security issued pursuant to Section 2.10 shall bear a legend
in substantially in the following form: 
 “THE RIGHTS ATTACHING TO THIS REGULATION S GLOBAL SECURITY THAT IS A TEMPORARY SECURITY, AND
THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR DEFINITIVE SECURITY, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).” 
 Each
Definitive Security shall bear the following additional legends: 
 “IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE
REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.” 

Each Security issued hereunder that has more than a de minimis amount of original issue discount for U.S. Federal Income Tax purposes shall bear
a legend in substantially the following form: 
 “THIS SECURITY IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION
1271 ET SEQ. OF THE INTERNAL REVENUE CODE. TO OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY FOR SUCH SECURITIES, A HOLDER MAY SUBMIT WRITTEN REQUEST FOR SUCH INFORMATION TO THE ISSUERS AT THE FOLLOWING
ADDRESS: ALBERTSON’S HOLDINGS LLC, 250 PARKCENTER BLVD., BOISE, IDAHO 83706, ATTENTION: [GENERAL COUNSEL].” 
 (ii) Upon any sale
or transfer of a Transfer Restricted Definitive Security that is a Definitive Security, the Registrar shall permit the Holder thereof to exchange such Transfer Restricted Definitive Security for a Definitive Security that does not bear the legends
set forth above and rescind any restriction on the transfer of such Transfer Restricted Definitive Security if the Holder certifies in writing to the Registrar that its request for such exchange was made in reliance on Rule 144 (such
certification to be in the form set forth on the reverse of the Security). 

  
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 (iii) [Reserved]. 

(iv) [Reserved]. 
 (v) Upon a
sale or transfer after the expiration of the Restricted Period of any Security acquired pursuant to Regulation S, all requirements that such Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such
Security be issued in global form shall continue to apply. 
 (vi) Any Additional Securities sold in a registered offering shall not be
required to bear the Restricted Securities Legend. 
 (g) Cancellation or Adjustment of Global Security. At such time as all
beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or
retained and canceled by the Trustee in accordance with Section 2.11 of this Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global
Security by the Trustee or by the Depository, at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository, at the direction of the Trustee to reflect such increase.

 (h) Obligations with Respect to Transfers and Exchanges of Securities. 

(i) To permit registrations of transfers and exchanges, the Issuers shall execute, and the Trustee shall authenticate, Definitive Securities
and Global Securities at the Registrar’s request. 
 (ii) No service charge shall be made for any registration of transfer or exchange,
but the Issuers may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charge payable
upon exchanges pursuant to Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture). 
 (iii) Prior to the due presentation for
registration of transfer of any Security, the Issuers, the Trustee, a Paying Agent or the Registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of
principal of and interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Issuers, the Trustee, a Paying Agent or the Registrar shall be affected by notice to the contrary. 

(iv) All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be
entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. 

  
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 (i) No Obligation of the Trustee. 

(i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Security, a member of, or a participant in the
Depository or any other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with respect to any ownership interest in the Securities or with respect to the delivery to any
participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Securities. All notices and communications
to be given to the Holders and all payments to be made to the Holders under the Securities shall be given or made only to the registered Holders (which shall be the Depository or its nominee in the case of a Global Security). The rights of
beneficial owners in any Global Security shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The Trustee may rely and shall be fully protected in relying upon information furnished by the
Depository with respect to its members, participants and any beneficial owners. 
 (ii) The Trustee shall have no obligation or duty to
monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depository
participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of
this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 (j)
[INTENTIONALLY OMITTED]. 
 (k) Transfers of Securities Held by Affiliates. Notwithstanding anything to the contrary in this
Section 2.2, any certificate (i) evidencing a Security that has been transferred to an affiliate (as defined in Rule 405 of the Securities Act) of any Issuer, as evidenced by a notation on the certificate of transfer or certificate of
exchange for such transfer or in the representation letter delivered in respect thereof, or (ii) evidencing a Security that has been acquired from an affiliate (other than by an affiliate) in a transaction or a chain of transactions not
involving any public offering, as evidenced by a notation on the certificate of transfer or certificate of exchange for such transfer or in the representation letter delivered in respect thereof, shall, until one year after the last date on which
either any Issuer or any affiliate of any Issuer was an owner of such Security, in each case, be in the form of a permanent Definitive Security and bear the Restricted Securities Legend subject to the restrictions in this Section 2.2. The
Registrar shall retain copies of all letters, notices and other written communications received pursuant to this Section 2.2(k). The Issuers, at their sole cost and expense, shall have the right to inspect and make copies of all such letters,
notices or other written communications at any reasonable time upon the giving of reasonable advance written notice to the Trustee. 

  
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 EXHIBIT A 

[FORM OF FACE OF SECURITY] 

[Global Securities Legend] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED
TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [Restricted Securities Legend] 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES
LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT
SUBJECT TO, REGISTRATION. 
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (B) IT IS A NON-U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT AND IN ACCORDANCE
WITH THE LAWS APPLICABLE TO SUCH PURCHASER IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, OR (C) IT IS AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501 UNDER THE SECURITIES ACT AND (2) AGREES TO OFFER, SELL OR
OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE EXPIRATION OF THE APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH IN RULE 144 UNDER THE SECURITIES ACT, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) FOR SO
LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING

  
 A-1 

 
OF REGULATION S UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO IT IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, (D) TO AN “ACCREDITED INVESTOR” WITHIN
THE MEANING OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION
WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S, OR REGISTRAR’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (C), (D) OR (F) TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY IS COMPLETED AND DELIVERED BY THE
TRANSFEROR TO THE TRUSTEE OR REGISTRAR. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE EXPIRATION OF THE APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH IN RULE 144 UNDER THE SECURITIES ACT. 

[Temporary Regulation S Security Legend] 

THE RIGHTS ATTACHING TO THIS REGULATION S GLOBAL SECURITY THAT IS A TEMPORARY SECURITY, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS
EXCHANGE FOR DEFINITIVE SECURITY, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN). 
 [OID Legend] 

THIS SECURITY IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION 1271 ET SEQ. OF THE INTERNAL REVENUE CODE. TO OBTAIN THE ISSUE
PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY FOR SUCH SECURITIES, A HOLDER MAY SUBMIT WRITTEN REQUEST FOR SUCH INFORMATION TO THE ISSUERS AT THE FOLLOWING ADDRESS: ALBERTSON’S HOLDINGS LLC, 250 PARKCENTER BLVD.,
BOISE, IDAHO 83706, ATTENTION: [GENERAL COUNSEL]. 
 Each Definitive Security shall bear the following additional legend: 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER
INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

  
 A-2 

 [FORM OF SECURITY] 
  

			
	No.		$            

 7.750% Senior Secured Note due 2022 
  

	
	CUSIP No. [144A: [            ] / Reg S: [            ]]
	ISIN No. [144A: [            ] / Reg S: [            ]]

 ALBERTSON’S HOLDINGS LLC, a Delaware limited liability company and SATURN ACQUISITION MERGER SUB, INC., a
Delaware corporation, promise to pay to [                    ], or registered assigns, the principal sum
of          Dollars [or such greater or lesser amount as is indicated on the Schedule of Increases or Decreases in Global Security attached hereto]* on October 15, 2022. 

Interest Payment Dates: April 15 and October 15. 

Record Dates: April 1 and October 1. 

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

IN WITNESS WHEREOF, the Issuers have caused this instrument to be duly executed. 

 

			
	ALBERTSON’S HOLDINGS LLC
		
	By:		  

			Name:
			Title:
	
	SATURN ACQUISITION MERGER SUB, INC.
		
	By:		  

			Name:
			Title:

  
 A-3 

			
	Dated:
	
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

	
	 WILMINGTON TRUST,
NATIONAL ASSOCIATION,
as Trustee, certifies that this is one of the Securities referred to in the
Indenture.

		
	By:		  

			Authorized Signatory

  

	*/ 	If the Security is to be issued in global form, add the Global Securities Legend and the attachment from Exhibit A captioned “TO BE ATTACHED TO GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN
GLOBAL SECURITY.” 

  
 A-4 

 [FORM OF REVERSE SIDE OF SECURITY] 

7.750% Senior Secured Note due 2022 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

 

	1.	Interest 

 ALBERTSON’S HOLDINGS LLC, a Delaware limited liability company, and
SATURN ACQUISITION MERGER SUB, INC., a Delaware corporation, promise to pay interest on the principal amount of this Security at the rate per annum shown above. The Issuers shall pay interest semiannually on April 15 and October 15 of each
year, commencing April 15, 2015.a Interest on the Securities shall accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or
duly provided for, from October 23, 2014a until the principal hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The Issuers shall pay interest
on overdue principal at the rate borne by the Securities, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 
  

	2.	Method of Payment 

 The Issuers shall pay interest on the Securities (except
defaulted interest) to the Persons who are registered Holders at the close of business on the April 1 or October 1 next preceding the interest payment date even if Securities are canceled after the record date and on or before the interest
payment date (whether or not a Business Day). The Holders must surrender Securities to a Paying Agent to collect principal payments. The Issuers shall pay principal, premium, if any, and interest in money of the United States of America that at
the time of payment is legal tender for payment of public and private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately
available funds to the accounts specified by The Depository Trust Company or any successor depositary. The Issuers will make all payments in respect of a certificated Security (including principal, premium, if any, and interest), at the office of
each Paying Agent, except that, at the option of the Issuers, payment of interest may be made by sending a check to the registered address of each Holder thereof; provided, however, that payments on the Securities may also be made, in
the case of a Holder of at least $1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S. Dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by
giving written notice to the Trustee or a Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion).

  

	3.	Paying Agent and Registrar 

 Initially, Wilmington Trust, National Association (the
“Trustee”) will act as Paying Agent and Registrar. The Issuers may appoint and change any Paying Agent or Registrar without notice. The Issuers or any of their domestically incorporated Wholly Owned Subsidiaries may act as Paying
Agent or Registrar. 
  

	a 	With respect to Securities issued on the Issue Date. 

  
 A-5 

	4.	Indenture 

 The Issuers issued the Securities under an Indenture dated as of
October 23, 2014 (the “Indenture”), among the Issuers, the Guarantors, the Trustee and the Notes Collateral Agent. Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The
Securities are subject to all terms and provisions of the Indenture, and the Holders are referred to the Indenture for a statement of such terms and provisions. To the extent any provision of this Security conflicts with the express provisions of
the Indenture, the provisions of the Indenture shall govern and be controlling. 
 The Securities are senior secured obligations of the
Issuers. This Security is one of the Securities referred to in the Indenture. On and after the Initial Escrow Release Date, the Indenture imposes certain limitations on the ability of the Company and its Restricted Subsidiaries to, among other
things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries,
issue or sell shares of capital stock of the Company and such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make asset sales. The Indenture also imposes limitations on the ability of
the Company and each Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. 

To guarantee the due and punctual payment of the principal and interest on the Securities and all other amounts payable by the Issuers under
the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities and the Indenture, the Guarantors have, jointly and severally,
unconditionally guaranteed the Guaranteed Obligations on a senior secured basis pursuant to the terms of the Indenture. 
  

	5.	Optional Redemption 

 Except as set forth in the following two paragraphs, the Securities
shall not be redeemable at the option of the Company prior to October 15, 2017. Thereafter, the Securities shall be redeemable at the option of the Issuers, in whole at any time or in part from time to time, upon not less than 30 nor more than
60 days’ prior notice, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to the redemption date (subject to the right of the Holders of record on the relevant record date
to receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing on October 15 of the years set forth below: 
  

					
	 Year
	  	Redemption Price	 
		
	 2017
	  	 	105.813	% 
	 2018
	  	 	103.875	% 
	 2019
	  	 	101.938	% 
	 2020 and thereafter
	  	 	100.000	% 

 In addition, at any time prior to October 15, 2017, the Issuers may redeem the Securities at their
option, in whole at any time or in part from time to time, upon not less than 30 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount of the Securities redeemed plus the Applicable Premium as of, and
accrued and unpaid interest to, the applicable redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

  
 A-6 

 Notwithstanding the foregoing, at any time and from time to time on or prior to
October 15, 2017, the Issuers may redeem in the aggregate up to 40% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance of Additional Securities but excluding any Securities redeemed
pursuant to the Safeway Notes Special Mandatory Redemption, the Safeway Series Change of Control Tender Offer Redemption or the Safeway Series Amendment Redemption) with the net cash proceeds of one or more Equity Offerings (1) by the Company
or (2) by any direct or indirect parent of the Company, in each case, to the extent the net cash proceeds thereof are contributed to the common equity capital of the Company or used to purchase Capital Stock (other than Disqualified Stock) of
the Company from it, at a redemption price (expressed as a percentage of principal amount thereof) equal to 107.750% plus accrued and unpaid interest, if any, to the redemption date (subject to the right of Holders of record on the relevant record
date to receive interest due on the relevant interest payment date); provided, however, that at least 50% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance of Additional
Securities but excluding any Securities redeemed pursuant to the Safeway Notes Special Mandatory Redemption, the Safeway Series Change of Control Tender Offer Redemption or the Safeway Series Amendment Redemption) must remain outstanding after each
such redemption; and provided, further, that such redemption shall occur within 180 days after the date on which any such Equity Offering is consummated upon not less than 30 nor more than 60 days’ notice mailed to each Holder of
Securities being redeemed or otherwise in accordance with the procedures of the Depository and otherwise in accordance with the procedures set forth in the Indenture. 

In addition, if such redemption is subject to satisfaction of one or more conditions precedent, such notice of redemption shall describe each
such condition, and if applicable, shall state that, in the Issuers’ discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be
rescinded in the event that any or all such conditions shall not have been satisfied by the stated redemption date, or by the redemption date as so delayed. 

Notice of any redemption in respect of an Equity Offering may be given prior to the completion thereof. 

 

	6.	Mandatory Redemption and Sinking Fund 

 The Securities are subject to mandatory
redemption as further described in Sections 3.09, 3.10, 3.11 and 3.12 of the Indenture. The Securities are not subject to any sinking fund. 
  

	7.	Notice of Redemption 

 Notice of redemption will be mailed by first-class mail at least
30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at his, her or its registered address or otherwise in accordance with the procedures of The Depository Trust Company. Securities in
denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 to the extent practicable. If money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities (or portions thereof) to
be redeemed on the redemption date is deposited with a Paying Agent on or before the redemption date and certain other conditions are satisfied, on and after such date, interest ceases to accrue on such Securities (or such portions thereof) called
for redemption. 
  

	8.	Repurchase of Securities at the Option of Holders upon Change of Control and Asset Sales 

Upon the occurrence of a Change of Control, each Holder shall have the right, subject to certain conditions specified in the Indenture, to
cause the Issuers to repurchase all or any part of such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued 

  
 A-7 

 
and unpaid interest, if any, to the date of repurchase (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date),
as provided in, and subject to the terms of, the Indenture. 
 In accordance with Section 4.06 of the Indenture, the Issuers will be
required to offer to purchase Securities upon the occurrence of certain events. 
  

	9.	Denominations; Transfer; Exchange 

 The Securities are in registered form, without
coupons, in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. A Holder shall register the transfer of or exchange of Securities in accordance with the Indenture. Upon any registration of transfer or exchange, the
Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to a selection of
Securities to be redeemed. 
  

	10.	Persons Deemed Owners 

 The registered Holder of this Security shall be treated as the
owner of it for all purposes. 
  

	11.	Unclaimed Money 

 If money for the payment of principal or interest remains unclaimed for
two years, the Trustee and a Paying Agent shall pay the money back to the Issuers at their written request. After any such payment, the Holders entitled to the money must look to the Issuers for payment as general creditors and the Trustee and a
Paying Agent shall have no further liability with respect to such monies. 
  

	12.	Discharge and Defeasance 

 Subject to certain conditions, the Issuers at any time may
terminate some of or all their obligations under the Securities and the Indenture if the Issuers deposit with the Trustee money or U.S. Government Obligations for the payment of principal of, and interest on, the Securities to redemption or
maturity, as the case may be. 
  

	13.	Amendment, Waiver 

 Subject to certain exceptions set forth in the Indenture,
(i) the Indenture or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities (voting as a single class) and (ii) any past default or
compliance with any provisions may be waived with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any
Holder, the Issuers and the Trustee may amend the Indenture or the Securities (i) to cure any ambiguity, omission, mistake, defect, error or inconsistency; (ii) to provide for uncertificated Securities of such series in addition to or in
place of certificated Securities; (iii) to comply with Article 5 of the Indenture; (iv) to provide for the assumption of the Issuers’ or any Guarantor’s obligations to the Holders; (v) to make any change that would
provide any additional rights or benefits to the Holders or that does not materially adversely affect the legal rights of any such Holder under the Indenture; (vi) to add covenants for the benefit of the Holders or to surrender any right or
power under the Indenture conferred upon the Issuers or any Guarantor; (vii) to provide for the issuance of Additional Securities; (viii) to evidence and 

  
 A-8 

 
provide for the acceptance and appointment hereunder of a successor Trustee pursuant to the requirements of the Indenture; (ix) to add a Guarantor or a co-obligor of the Securities under the
Indenture or to release any such Guarantor or a Guarantee if at the time of such release such Guarantor is not otherwise required to be a Guarantor; (x) to conform the text of the Indenture, the Security Documents, the Intercreditor Agreements,
Guarantees or this Security to any provision of the “Description of Secured Notes” section of the Offering Memorandum as evidenced by an Officers’ Certificate of the Company; (xi) to mortgage, pledge, hypothecate or grant any
other Lien in favor of the Trustee for the benefit of the Holders of the Securities, as additional security for the payment and performance of all or any portion of the Obligations; (xii) to release Collateral from the Lien granted by the
Indenture and the Security Documents or to release Guarantors when permitted or required by the Security Documents or the Indenture, in each case, in accordance with the Indenture; or (xiii) to add replacement ABL Obligations, Additional First
Lien Obligations or Additional Second Lien Obligations under the Intercreditor Agreements. 
  

	14.	Defaults and Remedies 

 If an Event of Default occurs (other than an Event of Default
relating to certain events of bankruptcy, insolvency or reorganization of the Company) and is continuing, the Trustee or the Holders of at least 30% in principal amount of the outstanding Securities, in each case, by notice to the Issuers, may
declare the principal of, premium, if any, and accrued but unpaid interest on all the Securities to be due and payable. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company or Co-Issuer occurs,
the principal of, premium, if any, and interest on all the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in
principal amount of the outstanding Securities may rescind any such acceleration with respect to the Securities and its consequences. 
 If
an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee
indemnity or security satisfactory to it against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue
any remedy with respect to the Indenture or the Securities unless (i) such Holder has previously given the Trustee written notice that an Event of Default is continuing, (ii) the Holders of at least 30% in principal amount of the
outstanding Securities have requested the Trustee in writing to pursue the remedy, (iii) such Holders have offered the Trustee security or indemnity satisfactory to it against any loss, liability or expense, (iv) the Trustee has not
complied with such request within 60 days after the receipt of the request and the offer of security or indemnity and (v) the Holders of a majority in principal amount of the outstanding Securities have not given the Trustee a written
direction inconsistent with such request prior to the expiration of such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities are given the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the
Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability. Prior to taking any action under the Indenture, the Trustee shall be entitled to indemnification satisfactory to it
in its sole discretion against all losses and expenses caused by taking or not taking such action. 

  
 A-9 

	15.	Trustee Dealings with the Issuers 

 The Trustee under the Indenture, in its individual or
any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuers or their Affiliates and may otherwise deal with the Issuers or their Affiliates with the same rights it
would have if it were not Trustee. 
  

	16.	No Recourse Against Others 

 No director, officer, employee, incorporator or holder of
any equity interests in any Issuer or any Guarantor, or any direct or indirect parent of the Company, as such, shall have any liability for any obligations of the Issuers or the Guarantors under the Securities or the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. 
  

	17.	Authentication 

 This Security shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. 
  

	18.	Abbreviations 

 Customary abbreviations may be used in the name of a Holder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

 

	19.	Governing Law 

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

	20.	CUSIP Numbers, ISINs and Common Codes 

 The Issuers have caused CUSIP numbers and ISINs
to be printed on the Securities and have directed the Trustee to use CUSIP numbers and ISINs. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon. 
 The Issuers will furnish to any Holder of Securities upon
written request and without charge to the Holder a copy of the Indenture which has in it the text of this Security. 

  
 A-10 

 ASSIGNMENT FORM 

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

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

 
 (Insert assignee’s soc. sec.
or tax I.D. No.) 
 and irrevocably
appoint                      agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 
  

 
  

									
	Date:		  
				Your Signature:		  

  
  

 
 Sign exactly as your name appears on the other side of
this Security. 
 Signature Guarantee: 
  

							
	Date:		  
				
			Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee				 Signature of Signature Guarantee

  
 A-11 

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFER RESTRICTED SECURITIES 

This certificate relates to $         principal amount of Securities held in (check applicable space)
             book-entry or              definitive form by the undersigned. 

The undersigned: 
  

	 ̈	has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depository a Security or Securities in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above); and 

check the following, if applicable: 
  

	 	 ̈	is an affiliate of the Issuers as contemplated in Section 2.2(k) of Appendix A to the Indenture; or 

  

	 	 ̈	is exchanging this Security in connection with an expected transfer to an affiliate of the Issuers as contemplated in Section 2.2(k) of Appendix A to the Indenture. 

 

	 ̈	has requested the Trustee by written order to exchange or register the transfer of a Security or Securities; and 

check the following, if applicable: 
  

	 	 ̈	is an affiliate of the Issuers as contemplated in Section 2.2(k) of Appendix A to the Indenture; or 

  

	 	 ̈	the transferee is an affiliate of the Issuers as contemplated in Section 2.2(k) of Appendix A to the Indenture. 

In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of the period referred to in
Rule 144 under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: 
 CHECK ONE
BOX BELOW 
  

					
	(1)		 ̈		to the Issuers, any Parent of an Issuer or any Subsidiary of an Issuer; or
			
	(2)		 ̈		to the Registrar for registration in the name of the Holder, without transfer; or
			
	(3)		 ̈		pursuant to an effective registration statement under the Securities Act of 1933; or
			
	(4)		 ̈		inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) that purchases for its own account or for the account of a qualified institutional buyer to whom
notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act; or

  
 A-12 

					
			
	(5)		 ̈		outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act and such Security shall be held immediately after the
transfer through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or
			
	(6)		 ̈		to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) that has furnished to the Trustee a signed letter containing certain representations and
agreements; or
			
	(7)		 ̈		pursuant to another available exemption from registration provided by Rule 144 under the Securities Act.

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any Person other than the registered Holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Trustee may require, prior to registering any such transfer
of the Securities, such legal opinions, certifications and other information as the Issuers have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. 
  

							
	Date:		  
				  

							Your Signature

							
			
	Signature Guarantee:				
				
	Date:		  
				  

			Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee				Signature of Signature Guarantee

  
  

 
 TO BE COMPLETED BY PURCHASER IF
(4) ABOVE IS CHECKED. 
 The undersigned represents and warrants that it is purchasing this Security for its own account or an account
with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, and is aware that the sale to it is being
made in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuers as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that
the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

									
	Dated:		  
				  

							NOTICE:		To be executed by an executive officer

  
 A-13 

 [TO BE ATTACHED TO GLOBAL SECURITIES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The initial principal amount of this Global Security is set forth on the face hereof. The following increases or decreases in this Global
Security have been made: 
  

									
	 Date of Exchange
	  	Amount of
decrease in
Principal Amount
of this Global
Security	  	Amount of
increase in
Principal Amount
of this Global
Security	  	Principal Amount of
this Global Security
following such
decrease or increase	  	Signature of authorized
signatory of Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-14 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Issuers pursuant to Section 4.06 (Asset Sale) or 4.08 (Change of Control) of
the Indenture, check the applicable box: 
  

			
	Asset Sale   ̈		Change of Control   ̈

 If you want to elect to have only part of this Security purchased by the Issuers pursuant to Section 4.06
(Asset Sale) or 4.08 (Change of Control) of the Indenture, state the amount ($1,000 or an integral multiple thereof): 

$         
  

									
	Date:		  
				Your Signature:		  

									(Sign exactly as your name appears on the other side of this Security)

  

					
	Signature Guarantee:		  
		

 Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other
signature guarantor program reasonably acceptable to the Trustee 

  
 A-15 

 EXHIBIT B 

Form of 
 Transferee Letter of
Representation 
 Albertson’s Holdings LLC 
 Saturn
Acquisition Merger Sub, Inc. 
 c/o Wilmington Trust, National Association 

50 South Sixth Street, Suite 1290 
 Minneapolis, MN 55402 

Ladies and Gentlemen: 
 This certificate is
delivered to request a transfer of $[            ] principal amount of the 7.750% Senior Secured Notes due 2022 (the “Securities”) of ALBERTSON’S HOLDINGS LLC (the
“Company”) and SATURN ACQUISITION MERGER SUB, INC. (“Merger Sub” and together with the Company, the “Issuers”). 

Upon transfer, the Securities would be registered in the name of the new beneficial owner as follows 

 

			
	Name:		  

			
		
	Address:		  

			
		
	Taxpayer ID Number:		  

 The undersigned represents and warrants to you that: 

1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as
amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Securities, and we are acquiring the Securities
not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our
investment in the Securities, and we invest in or purchase securities similar to the Securities in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its investment.

 2. We understand that the Securities have not been registered under the Securities Act and, unless so registered, may not be sold except
as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Securities to offer, sell or otherwise transfer such Securities prior to the date that is one year after the later
of the date of original issue and the last date on which any Issuer or any affiliate of any Issuer was the owner of such Securities (or any predecessor thereto) (the “Resale Restriction Termination Date”) only (a) to the
Issuers, (b) pursuant to a registration statement that has been declared effective under the Securities Act, (c) in a transaction complying with the requirements of Rule 144A under the Securities Act (“Rule 144A”), to
a person we reasonably believe is a qualified institutional buyer under Rule 144A (a “QIB”) that is purchasing for its own account or for the account of a QIB and to whom notice is given that the transfer is being 

  
 B-1 

 made in reliance on Rule 144A, (d) pursuant to offers and sales that occur outside the United States within
the meaning of Regulation S under the Securities Act, (e) to an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is purchasing for its own account or for the
account of such an institutional “accredited investor,” in each case in a minimum principal amount of Securities of $250,000, or (f) pursuant to any other available exemption from the registration requirements of the Securities Act,
subject in each of the foregoing cases to any requirement of law that the disposition of our property or the property of such investor account or accounts be at all times within our or their control and in compliance with any applicable state
securities laws. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Securities is proposed to be made pursuant to clause (e) above prior to the
Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Issuers and the Trustee, which shall provide, among other things, that the transferee is an institutional
“accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such Securities for investment purposes and not for distribution in violation of the Securities Act. Each
purchaser acknowledges that the Issuers and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Securities pursuant to clause (d), (e) or (f) above to require the
delivery of an opinion of counsel, certifications or other information satisfactory to the Issuers and the Trustee. 
  

													
	Dated:		  
				TRANSFEREE:		  
		,
							
									by		  
		

  
 B-2 

 EXHIBIT C 

[FORM OF INITIAL ESCROW RELEASE DATE SUPPLEMENTAL INDENTURE] 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of
[                    ], among SAFEWAY INC., a Delaware corporation (“Safeway”), ALBERTSON’S HOLDINGS LLC (or its successor), a
Delaware limited liability company (the “Company”), each of the other parties that are signatories hereto as Guarantors (collectively, the “Guarantors”), and WILMINGTON TRUST, NATIONAL ASSOCIATION as trustee under
the Indenture referred to below (the “Trustee”) and as collateral agent under the Indenture referred to below (the “Notes Collateral Agent”). 

W I T N E S S E T H: 
 WHEREAS
the Company, Saturn Acquisition Merger Sub, Inc., a Delaware corporation (“Merger Sub” and, together with the Company, the “Issuers”), have heretofore executed and delivered to the Trustee an Indenture (as amended,
supplemented or otherwise modified, the “Indenture”) dated as of October 23, 2014, providing for the issuance of 7.750% Senior Secured Notes due 2022 (the “Securities”) by the Issuers, initially in the
aggregate principal amount of $1,145,000,000; 
 WHEREAS, substantially concurrently with the closing of the Safeway Acquisition, Merger Sub
was merged with and into Safeway, with Safeway surviving such merger as a Wholly Owned Subsidiary of the Company; 
 WHEREAS, each of the
Guarantors is a direct or indirect Wholly Owned Subsidiary of the Company; 
 WHEREAS Section 4.11 of the Indenture provides that upon
the Initial Escrow Release Effective Date, the Issuers are required to cause the Guarantors to execute and deliver to the Trustee a supplemental indenture pursuant to which (i) Safeway shall unconditionally assume Merger Sub’s Obligations
under the Securities and the Indenture and (ii) the Guarantors shall unconditionally guarantee, on a joint and several basis, all of the Issuers’ obligations under the Securities pursuant to a Guarantee on the terms and conditions set
forth herein; and 
 WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee and the Company are authorized to execute and
deliver this Supplemental Indenture; 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the
receipt of which is hereby acknowledged, Safeway, the Guarantors, the Company, and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows: 

1. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are used
herein as therein defined. The words “herein,” “hereof” and hereby and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof.

 2. Agreement to Assume Obligations. Safeway hereby agrees to unconditionally assume Merger Sub’s Obligations under the
Securities and the Indenture on the terms and subject to the conditions set forth in the Indenture and to be bound by all of the obligations and agreements of Merger Sub under the Indenture. For the avoidance of doubt, from the date hereof, the
“Issuers” shall refer to the Company and Safeway (together with any of their permitted successors and assigns). 

  
 C-1 

 3. Agreement to Guarantee. Each Guarantor hereby agrees, jointly and severally, to
unconditionally guarantee the Issuers’ obligations under the Securities on the terms and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture and the Securities
and to perform all of the obligations and agreements of a Guarantor under the Indenture. 
 4. Ratification of Indenture; Supplemental
Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture
shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. 

5. Notices. All notices or other communications to the Guarantors shall be given as provided in Section 13.02 of the Indenture.

 6. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK. 
 7. Trustee Makes No Representation. The Trustee makes no representation as to the recitals or the
validity or sufficiency of this Supplemental Indenture. 
 8. Counterparts. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
 9. Effect of
Headings. The Section headings herein are for convenience only and shall not affect the construction thereof. 

  
 C-2 

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

			
	ALBERTSON’S HOLDINGS LLC
		
	By:		  

			Name:
			Title:
	
	SAFEWAY INC.
		
	By:		  

			Name:
			Title:
	
	[GUARANTORS]
		
	By:		  

			Name:
			Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, AS TRUSTEE AND NOTES COLLATERAL AGENT
		
	By:		  

			Name:
			Title:

  
 C-3 

 EXHIBIT D 

[FORM OF SUPPLEMENTAL INDENTURE] 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of
[                    ], among [GUARANTOR] (the “New Guarantor”), a subsidiary of ALBERTSON’S HOLDINGS LLC, a Delaware limited
liability company (the “Company”), the Company, the Co-Issuer (as defined in the Indenture referred to herein) and WILMINGTON TRUST, NATIONAL ASSOCIATION as trustee under the Indenture referred to below (the
“Trustee”) and as collateral agent under the Indenture referred to below (the “Notes Collateral Agent”). 

W I T N E S S E T H: 
 WHEREAS
the Company, the Co-Issuer and the existing Guarantors have heretofore executed and delivered to the Trustee an Indenture (as amended, supplemented or otherwise modified, the “Indenture”) dated as of October 23, 2014, providing
for the issuance of 7.750% Senior Secured Notes due 2022 (the “Securities”), initially in the aggregate principal amount of $1,145,000,000; 

WHEREAS Section 4.11 of the Indenture provides that under certain circumstances the Issuers are required to cause the New Guarantor to
execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally guarantee all the Issuers’ obligations under the Securities pursuant to a Guarantee on the terms and conditions set forth
herein; and 
 WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee, the Issuers and the existing Guarantors are authorized
to execute and deliver this Supplemental Indenture; 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Issuers, and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows: 

1. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are used
herein as therein defined. The words “herein,” “hereof” and hereby and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof.

 2. Agreement to Guarantee. The New Guarantor hereby agrees, jointly and severally with all existing Guarantors (if any), to
unconditionally guarantee the Company’s obligations under the Securities on the terms and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture and the Securities
and to perform all of the obligations and agreements of a Guarantor under the Indenture. 
 3. Ratification of Indenture; Supplemental
Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture
shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. 

  
 D-1 

 4. Notices. All notices or other communications to the New Guarantor shall be given as
provided in Section 13.02 of the Indenture. 
 5. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 6. Trustee Makes No Representation. The Trustee makes no
representation as to the recitals or the validity or sufficiency of this Supplemental Indenture. 
 7. Counterparts. The parties may
sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

8. Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction thereof. 

  
 D-2 

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

			
	[NEW GUARANTOR]
		
	By:		  

			Name:
			Title:
	
	ALBERTSON’S HOLDINGS LLC
		
	By:		  

			Name:
			Title:
	
	SAFEWAY INC.
		
	By:		  

			Name:
			Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, AS TRUSTEE AND NOTES COLLATERAL AGENT
		
	By:		  

			Name:
			Title:

  
 D-3EX-4.12

 Exhibit 4.12 

SUPPLEMENTAL INDENTURE No. 3, dated as of December 29, 2008 (this “Supplemental Indenture”), among NAI, Inc., an
Ohio corporation (“NAI”), New Albertson’s, Inc., a Delaware corporation (the “Company”), and U.S. BANK TRUST NATIONAL ASSOCIATION, as trustee (the “Trustee”) under the Indenture (as hereinafter referred to). 

W I T N E S S E T H 

WHEREAS, Albertson’s, Inc., a Delaware corporation (“Albertson’s”) and U.S. Bank Trust National Association, successor as
Trustee, entered into an Indenture, dated as of May 1, 1992 (as supplemented by Supplemental Indenture No. 1, dated as of May 7, 2004 and Supplemental Indenture No. 2, dated as of June 1, 2006, the “Indenture”)
providing for the issuance from time to time of Securities in one or more series, of which Securities were issued and a portion of which are currently Outstanding; 

WHEREAS, pursuant to Supplemental Indenture No. 2, dated as of June 1, 2006, the Company assumed the due and punctual payment of the
principal of and any premium and interest on all the Securities and the performance or observance of every covenant of the Indenture on the part Albertson’s to be performed or observed thereunder; 

WHEREAS, NAI has entered into that Merger Agreement, dated as of December     , 2008, by and among NAI and the
Company (the “Merger Agreement”) pursuant to which, substantially simultaneously with the effectiveness of this Supplemental Indenture, the Company is merging with and into NAI (the “Merger”), the separate existence of the
Company shall cease and NAI shall survive and continue as the continuing company, and, upon effectiveness of the Merger, NAI shall change its name to New Albertson’s, Inc.; 

WHEREAS, as a condition to the Merger, Section 801(1) of the Indenture requires, among other things, that NAI execute and deliver an
indenture supplemental to the Indenture to assume the obligations of the Company under the Indenture and the Securities; 
 WHEREAS, NAI and
the Company desire to enter into a supplemental indenture pursuant to the terms of Sections 801(1) and 901(1) of the Indenture; 
 WHEREAS,
pursuant to Section 901(1) of the Indenture, NAI, the Company and the Trustee may enter into this Supplemental Indenture without the consent of any Holder; 

NOW, THEREFORE, for and in consideration of the premises and other valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, it is hereby agreed among the Company, NAI and the Trustee, for the equal and proportionate benefit of the respective Holders from time to time of the Securities, as follows: 

ARTICLE ONE 
 ASSUMPTION
OF PAYMENT, PERFORMANCE AND OBSERVANCE 
 Section 1.01. NAI hereby expressly assumes the due and punctual payment of the principal
of and any premium and interest on all the Securities and the performance or observance of every covenant of the Indenture on the part of the Company to be performed or observed thereunder. 

 ARTICLE TWO 

REPRESENTATIONS AND WARRANTIES 

Section 2.01. NAI represents and warrants that it is a corporation duly organized and validly existing under the laws of the State of
Ohio. 
 Section 2.02. Each of the Company and NAI represents and warrants that it has all requisite power and authority to execute,
deliver and perform its obligations hereunder, under the Indenture and under the Securities, and that the execution, delivery and performance by the Company and NAI of this Supplemental Indenture and the Indenture have been duly authorized by all
necessary corporate or other organizational action. 
 Section 2.03. Each of the Company and NAI represents and warrants that
immediately after giving effect to the Merger, and treating any indebtedness which becomes an obligation of the Company or a Subsidiary as a result of the Merger as having been incurred by the Company or such Subsidiary at the time of the Merger, no
Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing. 

Section 2.04. Each of the Company and NAI represents and warrants that the Merger shall not result in the properties or assets of the
Company or of NAI becoming subject to any mortgage, pledge, lien, security interest or other encumbrance, other than mortgages, pledges, liens, security interests or other encumbrances which could be created pursuant to Section 1008 of the
Indenture without equally and ratably securing the Securities. 
 Section 2.05. The Company represents and warrants that it has
delivered to the trustee an Officers’ Certificate and Opinion of Counsel as required under Section 801(4) of the Indenture. 

ARTICLE THREE 

SUCCESSION AND SUBSTITUTION 

Section 3.01. Upon the consummation of the Merger, Section 802 of the Indenture shall have effect to the extent set forth therein,
subject to such Section. 
 ARTICLE FOUR 

MISCELLANEOUS 

Section 4.01. Capitalized terms used in this Supplemental Indenture that have not otherwise been defined herein shall have the meanings
assigned thereto in the Indenture. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered under the Indenture shall be bound thereby. 

 Section 4.02. Except as supplemented hereby, all provisions in the Indenture shall remain in
full force and effect. 
 Section 4.03. This Supplemental Indenture is supplemental to the Indenture, and the Indenture and this
Supplemental Indenture shall henceforth be read and construed together. 
 Section 4.04. If any provision of this Supplemental
Indenture limits, qualifies or conflicts with any provision of the Trust Indenture Act of 1939 (the “TIA”) that is required under the TIA to be part of and govern any provision of this Supplemental Indenture, such provision of the TIA
shall control. If any provision of this Supplemental Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the provision of the TIA shall be deemed to apply to the Indenture as so modified or to be excluded by
this Supplemental Indenture, as the case may be. 
 Section 4.05. In case any provision in this Supplemental Indenture shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and this Supplemental Indenture shall be construed as if such invalid, illegal or
unenforceable provision had never been contained herein. 
 Section 4.06. Nothing in this Supplemental Indenture or the Securities,
express or implied, shall give to any Person, other than the parties hereto and thereto and their successors hereunder and thereunder and the Holders of the Securities, any benefit of any legal or equitable right, remedy or claim under the
Indenture, this Supplemental Indenture or the Securities. 
 Section 4.07. All agreements of NAI in this Supplemental Indenture shall
bind its successors and assigns, whether so expressed or not. 
 Section 4.08. Any request, demand, notice or other communication to
NAI in connection with the Indenture, as supplemented, shall be sufficient for every purpose hereunder if in writing and mailed, first class postage paid, to NAI addressed as follows: 

NAI, Inc. 

    c/o SUPERVALU INC. 

11840 Valley View Road 

Eden Prairie, MN 55344 

Attention: Treasurer 
 or to any
other address hereafter furnished in writing to the Trustee by NAI for such purpose. 
 Section 4.09. This Supplemental Indenture may
be executed in any number of counterparts, each of which shall be an original, but all of which shall together constitute one and the same instrument. 

 Section 4.10. This Supplemental Indenture shall be governed by and construed in accordance
with the laws of the State of New York, but without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 

Section 4.11. The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this
Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 

Section 4.12. The recitals and statements herein contained are made by the Company and NAI and not by the Trustee, and the Trustee
assumes no responsibility for the correctness thereof. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. 

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

			
	NAI, INC.
		
	By		/s/ John Boyd
	Name: John Boyd
	Title: Group Vice President and Treasurer
	
	NEW ALBERTSON’S, INC.
		
	By		/s/ John Boyd
	Name: John Boyd
	Title: Group Vice President and Treasurer
	
	U.S. BANK TRUST NATIONAL
	ASSOCIATION, as Trustee
		
	By		 
	Name:
	Title:

  
  

[Supplemental Indenture Signature Page] 

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

			
	NAI, INC.
		
	By		 
	Name: John Boyd
	Title: Group Vice President and Treasurer
	
	NEW ALBERTSON’S, INC.
		
	By		 
	Name: John Boyd
	Title: Group Vice President and Treasurer
	
	U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee
		
	By		/s/ Patrick J. Crowley
	Name: Patrick J. Crowley
	Title: Vice President

  
  

[Supplemental Indenture Signature Page] 

  

 
 ALBERTSON’S LLC, 

NEW ALBERTSON’S, INC. 
 AND

 U.S. BANK TRUST NATIONAL ASSOCIATION, 

Trustee 
  

 
 SUPPLEMENTAL
INDENTURE No. 2 
 Dated as of June 1, 2006 
  

 
 DEBT SECURITIES

  
  

Supplement to Indenture Dated as of May 1, 1992. 
  

 
  

 SUPPLEMENTAL INDENTURE No. 2, dated as of June 1, 2006 (this “Supplemental
Indenture”), among New Albertson’s, Inc., a Delaware corporation formerly known as New Aloha Corporation (“New Albertson’s”), Albertson’s LLC, a Delaware limited liability company and formerly a Delaware corporation
known as Albertson’s, Inc. (the “Company”), and U.S. BANK TRUST NATIONAL ASSOCIATION, as trustee (the “Trustee”) under the Indenture (as hereinafter referred to). 

W I T N E S S E T H 

WHEREAS, Albertson’s, Inc., a Delaware corporation (“Albertson’s”) and U.S. Bank Trust National Association, successor as
Trustee, entered into an Indenture, dated as of May 1, 1992 (as supplemented by Supplemental Indenture No. 1, dated as of May 7, 2004, the “Indenture”) providing for the issuance from time to time of Securities in one or
more series, of which Securities were issued and a portion of which are currently Outstanding; 
 WHEREAS, New Albertson’s has entered
into that Purchase and Separation Agreement, dated as of January 22, 2006, by and among Albertson’s, New Albertson’s, SUPERVALU INC., and AB Acquisition LLC, as amended (the “Separation Agreement”); 

WHEREAS, Albertson’s has filed a Certificate of Conversion with the Secretary of State of the State of Delaware, pursuant to which it has
converted from a Delaware corporation into a Delaware limited liability company (the “Conversion”); 
 WHEREAS, as a result of the
Conversion and without need for any further action, the Securities and the Indenture became the continuing obligations of the Company; 

WHEREAS, pursuant to the Separation Agreement the Company shall have transferred certain of its properties and assets to New Albertson’s
(such transfer, the “Separation”); 

 WHEREAS, as a condition to the Separation, Section 801(1) of the Indenture requires, among
other things, that New Albertson’s execute and deliver an indenture supplemental to the Indenture to assume the obligations of the Company under the Indenture and the Securities; 

WHEREAS, New Albertson’s and the Company desire to enter into a supplemental indenture pursuant to the terms of Sections 801(1) and
901(1) of the Indenture; 
 WHEREAS, New Albertson’s and the Company have requested that the Trustee execute and deliver this
Supplemental Indenture pursuant to the terms of Section 901(1) of the Indenture; and. 
 WHEREAS, pursuant to Section 901(1) of
the Indenture, New Albertson’s, the Company and the Trustee may enter into this Supplemental Indenture without the consent of any Holder; 

NOW, THEREFORE, for and in consideration of the premises and other valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, it is hereby agreed among the Company, New Albertson’s and the Trustee, for the equal and proportionate benefit of the respective Holders from time to time of the Securities, as follows:

 ARTICLE ONE 

ASSUMPTION OF PAYMENT, PERFORMANCE AND OBSERVANCE 

Section 1.01. New Albertson’s hereby expressly assumes the due and punctual payment of the principal of and any premium and interest
on all the Securities and the performance or observance of every covenant of the Indenture on the part of the Company to be performed or observed thereunder. 

  
 -2- 

 ARTICLE TWO 

REPRESENTATIONS AND WARRANTIES 

Section 2.01. New Albertson’s represents and warrants that it is a corporation duly organized and validly existing under the laws of
the State of Delaware. 
 Section 2.02. Each of the Company and New Albertson’s represents and warrants that the Separation
constitutes the transfer of the Company’s properties and assets substantially as an entirety to New Albertson’s. 

Section 2.03. Each of the Company and New Albertson’s represents and warrants that it has all requisite power and authority to
execute, deliver and perform its obligations hereunder, under the Indenture and under the Securities, and that the execution, delivery and performance by the Company and New Albertson’s of this Supplemental Indenture and the Indenture have been
duly authorized by all necessary corporate or other organizational action. 
 Section 2.04. Each of the Company and New
Albertson’s represents and warrants that immediately after giving effect to the Separation, and treating any indebtedness which becomes an obligation of the Company or a Subsidiary as a result of the Separation as having been incurred by the
Company or such Subsidiary at the time of the Separation, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing. 

Section 2.05. Each of the Company and New Albertson’s represents and warrants that the Separation shall not result in the properties
or assets of the Company or of New Albertson’s becoming subject to any mortgage, pledge, lien, security interest or other encumbrance, other than mortgages, pledges, liens, security interests or other encumbrances which could be created
pursuant to Section 1008 of the Indenture without equally and ratably securing the Securities. 

  
 -3- 

 Section 2.06. The Company represents and warrants that it has delivered to the trustee an
Officers’ Certificate and Opinion of Counsel as required under Section 801(4) of the Indenture. 
 ARTICLE THREE 

SUCCESSION AND SUBSTITUTION 

Section 3.01. Upon the consummation of the Separation, Section 802 of the Indenture shall have effect to the extent set forth
therein, subject to such Section. 
 ARTICLE FOUR 

MISCELLANEOUS 

Section 4.01. Capitalized terms used in this Supplemental Indenture that have not otherwise been defined herein shall have the meanings
assigned thereto in the Indenture. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered under the Indenture shall be bound thereby. 

Section 4.02. Except as supplemented hereby, all provisions in the Indenture shall remain in full force and effect. 

Section 4.03. This Supplemental Indenture is supplemental to the Indenture, and the Indenture and this Supplemental Indenture shall
henceforth be read and construed together. 
 Section 4.04. If any provision of this Supplemental Indenture limits, qualifies or
conflicts with any provision of the Trust Indenture Act of 1939 (the “TIA”) that is required under the TIA to be part of and govern any provision of this Supplemental Indenture, such provision of the TIA shall control. If any provision of
this Supplemental Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the provision of the TIA shall be deemed to apply to the Indenture as so modified or to be excluded by this Supplemental Indenture, as the
case may be. 

  
 -4- 

 Section 4.05. In case any provision in this Supplemental Indenture shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and this Supplemental Indenture shall be construed as if such invalid, illegal or unenforceable provision
had never been contained herein. 
 Section 4.06. Nothing in this Supplemental Indenture or the Securities, express or implied, shall
give to any Person, other than the parties hereto and thereto and their successors hereunder and thereunder and the Holders of the Securities, any benefit of any legal or equitable right, remedy or claim under the Indenture, this Supplemental
Indenture or the Securities. 
 Section 4.07. All agreements of New Albertson’s in this Supplemental Indenture shall bind its
successors and assigns, whether so expressed or not. 
 Section 4.08. Any request, demand, notice or other communication to New
Albertson’s in connection with the Indenture, as supplemented, shall be sufficient for every purpose hereunder if in writing and mailed, first class postage paid, to New Albertson’s addressed as follows: 

New Albertson’s, Inc. 

  c/o SUPERVALU INC. 

11840 Valley View Road 

Eden Prairie, MN 55344 

Attention: Treasurer 
 or to any
other address hereafter furnished in writing to the Trustee by New Albertson’s for such purpose. 

  
 -5- 

 Section 4.09. This Supplemental Indenture may be executed in any number of counterparts,
each of which shall be an original, but all of which shall together constitute one and the same instrument. 
 Section 4.10. This
Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York, but without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another
jurisdiction would be required thereby. 
 Section 4.11. The Indenture, as supplemented by this Supplemental Indenture, is in all
respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 

Section 4.12. The recitals and statements herein contained are made by the Company and New Albertson’s and not by the Trustee, and
the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. 

  
 -6- 

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

			
	ALBERTSON’S LLC
		
	By		/s/ Paul G. Rowan
	Name: Paul G. Rowan
	Title: Vice President
	
	NEW ALBERTSON’S, INC.
		
	By		/s/ Paul G. Rowan
	Name: Paul G. Rowan
	Title: Group Vice President
	
	U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee
		
	By		 
	Name: Patrick J. Crowley
	Title: Vice President

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

			
	ALBERTSON’S LLC
		
	By		 
	Name: Paul G. Rowan
	Title: Vice President
	
	NEW ALBERTSON’S, INC.
		
	By		 
	Name: Paul G. Rowan
	Title: Group Vice President
	
	U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee
		
	By		/s/ Patrick J. Crowley
	Name: Patrick J. Crowley
	Title: Vice President

 Exhibit (d)(2) 

EXECUTION COPY 
 ALBERTSON’S,
INC. 
 AND 
 U.S. BANK TRUST
NATIONAL ASSOCIATION, 
 as Trustee 
  

 
 SUPPLEMENTAL
INDENTURE NO. 1 
 Dated as of May 7, 2004 
  

 

 THIS SUPPLEMENTAL INDENTURE No. 1 (this “Supplemental Indenture”), dated as
of May 7, 2004, is between ALBERTSON’S, INC., a Delaware corporation (the “Company”), and U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee (the “Trustee”). 

R E C I T A L S 
 WHEREAS, the
Company has heretofore executed and delivered to the Trustee, as successor trustee an Indenture dated as of May 1, 1992 (the “Base Indenture” and together with this Supplemental Indenture, the “Indenture”),
providing for the issuance from time to time of series of the Company’s Securities (as defined in the Base Indenture); 
 WHEREAS,
Section 901(7) of the Base Indenture provides for the Company and the Trustee to enter into an indenture supplemental to the Base Indenture to establish the form or terms of Securities of any series as permitted by Section 301 of the Base
Indenture; 
 WHEREAS, pursuant to Sections 201 or 301 of the Base Indenture, the Company wishes to provide for the issuance of a new series
of Securities to be known as its 3.75% Senior Notes due February 16, 2009 (the “Senior Notes”), the form and terms of such Senior Notes and the terms, provisions and conditions thereof to be set forth as provided in this
Supplemental Indenture; 
 WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture and all
requirements necessary to make this Supplemental Indenture a valid, binding and enforceable instrument in accordance with its terms, and to make the Senior Notes, when executed by the Company and authenticated and delivered by the Trustee, the
valid, binding and enforceable obligations of the Company, have been done and performed, and the execution and delivery of this Supplemental Indenture has been duly authorized in all respects. 

NOW, THEREFORE, in consideration of the covenants and agreements set forth herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01. Relation to Base Indenture. This Supplemental Indenture constitutes an integral part of the Base Indenture. 

Section 1.02. Definition Of Terms. For all purposes of this Supplemental Indenture: 

(a) Capitalized terms used herein without definition shall have the meanings specified in the Base Indenture, or, if not
defined in the Base Indenture, in the Purchase Contract Agreement, the Pledge Agreement or the Remarketing Agreement, as applicable; 

(b) a term defined anywhere in this Supplemental Indenture has the same meaning throughout; 

 (c) the singular includes the plural and vice versa; 

(d) headings are for convenience of reference only and do not affect interpretation; 

(e) the following terms have the meanings given to them in this Article 1: 

“Accounting Event” means the receipt by the audit committee of the board of directors of the Company of a written report in
accordance with Statement on Auditing Standards (“SAS”) No. 97, “Amendment to SAS No. 50 – Reports on the Application of Accounting Principles”, from the Company’s independent auditors, provided at the
request of the management of the Company, to the effect that, as a result of a change in accounting rules after the date hereof, the Company must either (i) account for all or any portion of the Purchase Contracts as derivatives under SFAS 133
(or otherwise mark-to-market or measure at fair value all or any portion of the Purchase Contracts, with changes appearing in the Company’s income statement) or (ii) account for the Units using the if-converted method under SFAS 128, and
that such accounting treatment will cease to apply upon redemption of the Senior Notes. 
 “Applicable Principal Amount”
means the aggregate principal amount of the Senior Notes that are part of Corporate Units on the Special Event Redemption Date. 

“Business Day” shall have the meaning specified in the Purchase Contract Agreement. 

“Corporate Units” shall have the meaning specified in the Purchase Contract Agreement. 

“Coupon Rate” shall have the meaning set forth in Section 2.05(a). 

“Depositary” means a clearing agency registered under Section 17A of the Securities Exchange Act of 1934, as amended,
that is designated to act as Depositary for the Corporate Units pursuant to the Purchase Contract Agreement. 
 “Depositary
Participant” means a broker, dealer, bank, other financial institution or other Person for whom from time to time the Depositary effects book entry transfers and pledges of securities deposited with the Depositary. 

“Final Remarketing Price” shall have the meaning set forth in Section 8.02(b). 

“Global Senior Notes” shall have the meaning set forth in Section 2.04. 

“Interest Payment Date” shall have the meaning set forth in Section 2.05(b). 

“Maturity Date” shall have the meaning specified in Section 2.02. 

“Pledge Agreement” means the Pledge Agreement, dated as of the date hereof among the Company, U.S. Bank Trust National
Association, as Collateral Agent, Custodial Agent and Securities Intermediary, and U.S. Bank Trust National Association, as Purchase Contract Agent and attorney-in-fact for the Holders of the Purchase Contracts, as amended from time to time. 

  
 3 

 “Purchase Contract Agreement” means the Purchase Contract Agreement, dated as of
the date hereof, between the Company and U.S. Bank Trust National Association, as purchase contract agent, as amended from time to time. 

“Purchase Contracts” and “Purchase Contract” shall have their respective meanings specified in the Purchase
Contract Agreement. 
 “Purchase Contract Settlement Date” means May 16, 2007. 

“Put Price” shall have the meaning set forth in Section 8.05(a). 

“Put Right” shall have the meaning set forth in Section 8.05(a). 

“Quotation Agent” means any primary U.S. government securities dealer selected by the Company. 

“Record Date” means, with respect to any Interest Payment Date for the Senior Notes, the first Business Day of the calendar
month in which such Interest Payment Date falls; provided that the Company may, at its option, select any other day as the Record Date for any Interest Payment Date so long as such Record Date selected is more than one Business Day but less
than 60 Business Days prior to such Interest Payment Date. 
 “Redemption Amount” means, for each Senior Note, the product
of the principal amount of such Senior Note and a fraction, the numerator of which is the Treasury Portfolio Purchase Price and the denominator of which is the Applicable Principal Amount. 

“Redemption Price” means, for each Senior Note, the Redemption Amount plus any accrued and unpaid interest on such Senior
Note to but excluding the Special Event Redemption Date. 
 “Remarketed Senior Notes” shall have the meaning set forth in
Section 8.01 (c). 
 “Remarketing Agent” shall have the meaning set forth in the Remarketing Agreement. 

“Remarketing Agreement” means the Remarketing Agreement, dated as of the date hereof, among the Company, Banc of America
Securities LLC and U.S. Bank Trust National Association, as Purchase Contract Agent, as amended from time to time. 
 “Remarketing
Price” shall have the meaning set forth in Section 8.02(a). 
 “Reset Effective Date” means the date three
Business Days following the date of a Successful Remarketing pursuant to which the Coupon Rate is reset to a Reset Rate. 
 “Reset
Rate” means the interest rate per annum on the Senior Notes (i) in the case of a Successful Remarketing prior to the Final Remarketing Date, as determined by the Remarketing Agent as necessary to remarket the Remarketed Senior Notes at
a price per Remarketed Senior Note such that the aggregate price for the Remarketed Senior Notes is equal to approximately 100.25% (but not less than 100%) of the sum of the Treasury Portfolio Purchase Price and the

  
 4 

 
Separate Senior Notes Purchase Price, and (ii) in the case of a Successful Remarketing on the Final Remarketing Date, as the rate necessary to remarket the Remarketed Senior Notes at a price
per Remarketed Senior Note such that the aggregate price for the Remarketed Senior Notes is equal to approximately 100.25% (but not less than 100%) of the aggregate principal amount of the Remarketed Senior Notes; provided that if there are
no Corporate Units outstanding and none of the Holders elect to have Separate Senior Notes held by them remarketed, or in the case of a Failed Remarketing, the interest rate payable on the Senior Notes will not be reset and the interest rate payable
on the Senior Notes shall continue to be the Coupon Rate. 
 “Separate Senior Notes” means Senior Notes that are no longer
a component of Corporate Units. 
 “Special Event” shall mean either a Tax Event or an Accounting Event. 

“Special Event Redemption” means the redemption of the Senior Notes pursuant to the terms hereof following the occurrence of
a Special Event. 
 “Special Event Redemption Date” shall have the meaning set forth in Section 3.01. 

“Tax Event” means the receipt by the Company of an opinion of counsel, rendered by a law firm having a recognized national
tax practice, to the effect that, as a result of any amendment to, change in or announced proposed change in the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein, or as a
result of any official administrative decision, pronouncement, judicial decision or action interpreting or applying such laws or regulations, which amendment or change is effective or which proposed change, pronouncement, action or decision is
announced on or after the date hereof, there is more than an insubstantial increase in the risk that interest payable by the Company on the Senior Notes is not, or within 90 days of the date of such opinion, will not be, deductible by the Company,
in whole or in part, for United States federal income tax purposes. 
 “Treasury Portfolio” means a portfolio of
(1) U.S. treasury securities (or principal or interest strips thereof) that mature on or prior to May 15, 2007 in an aggregate amount at maturity equal to the Applicable Principal Amount, and (2) (x) in the case of a Successful
Remarketing prior to the Final Remarketing Date, for the scheduled Interest Payment Date on the Purchase Contract Settlement Date, U.S. treasury securities (or principal or interest strips thereof) that mature on or prior to May 15, 2007 in an
aggregate amount at maturity equal to the aggregate interest payment (assuming no reset of the interest rate) that would have been due on the Purchase Contract Settlement Date on the Applicable Principal Amount, and (y) in the case of a Special
Event Redemption, for each scheduled Interest Payment Date that occurs after the Special Event Redemption Date to and including the Purchase Contract Settlement Date, U.S. treasury securities (or principal or interest strips thereof) that mature on
or prior to the business day immediately preceding such scheduled Interest Payment Date in an aggregate amount equal to the aggregate interest payment (assuming no reset of the interest rate) that would have been due on such scheduled Interest
Payment Date on the Applicable Principal Amount. 
 “Treasury Portfolio Purchase Price” means the lowest aggregate ask-side
price quoted by a Primary Treasury Dealer to the Quotation Agent between 9:00 a.m. and 11:00 a.m., 

  
 5 

 
New York City time, (i) in the case of a Special Event Redemption, on the third Business Day immediately preceding the Special Event Redemption Date for the purchase of the applicable
Treasury Portfolio for settlement on the Special Event Redemption Date, and (ii) in the case of a Successful Remarketing prior to the Final Remarketing Date, on the date of such Successful Remarketing for the purchase of the applicable Treasury
Portfolio for settlement on the third Business Day immediately following the date of such Successful Remarketing. 
 “Treasury
Units” shall have the meaning specified in the Purchase Contract Agreement. 
 “Units” means either the Corporate
Units or the Treasury Units or both the Corporate Units and Treasury Units. 
 The terms “Company,” “Trustee,”
“Indenture,” “Base Indenture” and “Senior Notes” shall have the respective meanings set forth in the recitals to this Supplemental Indenture and the paragraph preceding such recitals. 

ARTICLE 2 
 GENERAL
TERMS AND CONDITIONS OF THE SENIOR NOTES 

Section 2.01. Designation and Principal Amount. There is hereby authorized a series of Securities designated as 3.75% Senior Notes
due 2009 limited in aggregate principal amount $1,000,000,000 (or up to $1,150,000,000 to the extent that the over-allotment option granted to the Underwriters pursuant to the Underwriting Agreement is exercised). The Senior Notes may be issued from
time to time upon written order of the Company for the authentication and delivery of Senior Notes pursuant to Section 303 of the Base Indenture. 

Section 2.02. Maturity. Unless a Special Event Redemption occurs prior to the Maturity Date (defined below), or as provided in
Section 8.02, the date upon which the Senior Notes shall become due and payable at final maturity, together with any accrued and unpaid interest, is February 16, 2009 (the “Maturity Date”). 

Section 2.03. Form, Payment and Appointment. Except as provided in Section 2.04, the Senior Notes shall be issued in fully
registered, certificated form, bearing identical terms. Principal of and interest on the Senior Notes will be payable, the transfer of such Senior Notes will be registrable, and such Senior Notes will be exchangeable for Senior Notes of a like
aggregate principal amount bearing identical terms and provisions, at the office or agency of the Company maintained for such purpose in the Borough of Manhattan, the City of New York, which shall initially be the Corporate Trust Office of the
Trustee; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Holder at such address as shall appear in the Security Register or by wire transfer to an account appropriately designated by
the Holder entitled to payment. 
 No service charge shall be made for any registration of transfer or exchange of the Senior Notes, but the
Company may require payment from the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

The Security Registrar and Paying Agent for the Senior Notes shall initially be the Trustee. 

  
 6 

 The Senior Notes shall be issuable in denominations of $1,000 and integral multiples thereof,
except that an interest in a Senior Note held as a part of a Corporate Unit represents an ownership interest of 1/40th, or 2.5%, of a Senior Note and will therefore correspond to the stated amount
of $25 per Corporate Unit. 
 Section 2.04. Global Senior Notes. Senior Notes that are no longer a component of the Corporate
Units and are released from the Collateral Account (as defined in the Pledge Agreement) will be issued in permanent global form (a “Global Senior Note”), and if issued as one or more Global Senior Notes, the Depositary shall be The
Depository Trust Company or such other depositary as any officer of the Company may from time to time designate. Upon the creation of Treasury Units or the recreation of Corporate Units, an appropriate annotation shall be made on the Schedule of
Increases and Decreases on the Global Senior Notes held by the Depositary. Unless and until such Global Senior Note is exchanged for Senior Notes in certificated form, Global Senior Notes may be transferred, in whole but not in part, and any
payments on the Senior Notes shall be made, only to the Depositary or a nominee of the Depositary, or to a successor Depositary selected or approved by the Company or to a nominee of such successor Depositary. 

Section 2.05. Interest. (a) The Senior Notes will bear interest initially at the rate of 3.75% per year (the
“Coupon Rate”) from the original date of issuance through and including the earlier of (i) the Maturity Date and (ii) the day immediately preceding any Reset Effective Date. In the event of a Successful Remarketing of
the Senior Notes, the Coupon Rate will be reset by the Remarketing Agent at the appropriate Reset Rate with effect from the related Reset Effective Date, as set forth under Section 8.03. If the Coupon Rate is so reset, the Senior Notes will
bear interest at the Reset Rate from the related Reset Effective Date until the principal thereof and interest thereon is paid or duly made available for payment and shall bear interest, to the extent permitted by law, compounded quarterly, on any
overdue principal and payment of interest at the Coupon Rate through and including the day immediately preceding the Reset Effective Date and at the Reset Rate thereafter. 

(b) Interest on the Senior Notes shall be payable quarterly in arrears on February 16, May 16, August 16 and
November 16 of each year (each, an “Interest Payment Date”), commencing August 16, 2004, to the Person in whose name such Senior Note, or any predecessor Senior Note, is registered at the close of business on the Record
Date for such Interest Payment Date. Interest on the Senior Notes shall accrue from May 7, 2004. 
 In the event of a Successful
Remarketing of the Senior Notes, the Interest Payment Dates may be redetermined and Senior Notes will bear interest at the appropriate Reset Rate from the related Reset Effective Date payable semi-annually instead of quarterly. 

(c) The amount of interest payable for any full quarterly or semi-annual period, as the case may be, will be computed on the basis of a
360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full quarterly or semi-annual period, as the case may be, for which interest is computed will be computed on the basis of a 30-day month
and, for any period less than a month, on the basis of the actual number of days elapsed per 30-day month. In the event that any scheduled Interest Payment Date falls on a day that is not a Business Day, then payment of interest payable on such
Interest Payment Date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next calendar year, then such payment will be
made on the preceding Business Day. 

  
 7 

 Section 2.06. No Defeasance. The provisions of Article 13 of the Base Indenture shall
not apply to the Senior Notes. 
 Section 2.07. No Sinking Fund. The provisions of Article 12 of the Base Indenture shall not
apply to the Senior Notes and the Senior Notes are not entitled to the benefit of any sinking fund. 
 ARTICLE 3 

REDEMPTION OF THE SENIOR NOTES 

Section 3.01. Special Event Redemption. If a Special Event shall occur and be continuing, the Company may, at its option, redeem
the Senior Notes in whole, but not in part, on any Interest Payment Date prior to the earlier of the date of a Successful Remarketing or the Purchase Contract Settlement Date, at a price per Senior Note equal to the Redemption Price, payable on the
date of redemption (the “Special Event Redemption Date”) to the Holders of the Senior Notes registered at the close of business on the Record Date for such Interest Payment Date. If the Company so elects to redeem the Senior Notes,
the Company shall appoint the Quotation Agent to assist the Company in determining the Treasury Portfolio Purchase Price. Notice of any Special Event Redemption will be mailed by the Company (with a copy to the Trustee) at least 30 days but not more
than 60 days before the Special Event Redemption Date to each registered Holder of the Senior Notes at its registered address. In addition, the Company shall notify the Collateral Agent in writing that a Special Event has occurred and that the
Company intends to redeem the Senior Notes on the Special Event Redemption Date. Unless the Company defaults in the payment of the Redemption Price, on and after the Special Event Redemption Date, (a) interest shall cease to accrue on the
Senior Notes, (b) the Senior Notes shall become due and payable at the Redemption Price, and (c) the Senior Notes shall be void and all rights of the Holders in respect of the Senior Notes shall terminate and lapse (other than the right to
receive the Redemption Price upon surrender of such Senior Notes but without interest on such Redemption Price). Following the notice of a Special Event Redemption, neither the Company nor the Trustee shall be required to register the transfer of or
exchange the Senior Notes to be redeemed. 
 Except as set forth in this Section 3.01, the Senior Notes shall not be redeemable by the
Company prior to the Maturity Date. The provisions of this Article 3 shall supersede any conflicting provisions contained in Article 11 of the Base Indenture. 

Section 3.02. Redemption Procedures. On or prior to 10:00 a.m. New York City time on the Special Event Redemption Date, the
Company shall deposit with the Trustee immediately available funds in an amount sufficient to pay, on the Special Event Redemption Date, the aggregate Redemption Price for all outstanding Senior Notes. In exchange for any Senior Notes surrendered
for redemption on or after the Special Event Redemption Date, the 

  
 8 

 
Trustee shall pay an amount equal to the Redemption Price (a) to the Collateral Agent, in the case of Senior Notes that are included in Corporate Units, which amount shall be applied by the
Collateral Agent in accordance with the terms of the Pledge Agreement, and (b) to the holders of the Separate Senior Notes, in the case of Separate Senior Notes. 

ARTICLE 4 
 FORM
OF SENIOR NOTE 
 Section 4.01. Form of Senior Note. The Senior Notes and the
Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the forms attached as Exhibit A hereto, with such changes therein as the officers of the Company executing the Senior Notes (by manual or facsimile
signature) may approve, such approval to be conclusively evidenced by their execution thereof. 
 ARTICLE 5 

ORIGINAL ISSUE OF SENIOR NOTES 

Section 5.01. Original Issue of Senior Notes. Senior Notes in the aggregate principal amount of $1,000,000,000 (or up to
$1,150,000,000 to the extent that the over-allotment option granted to the Underwriters pursuant to the Underwriting Agreement is exercised) may from time to time, upon execution of this Supplemental Indenture, be executed by the Company and
delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Senior Notes to or upon the written order of the Company pursuant to Section 303 of the Base Indenture without any further action by the
Company (other than as required by the Base Indenture). 
 ARTICLE 6 

ORIGINAL ISSUE DISCOUNT 

Section 6.01. Original Issue Discount. The Company shall file with the Trustee promptly at the end of each calendar year
(i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Senior Notes that are Outstanding as of the end of the year and (ii) such other specific information relating to
such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time. 
 ARTICLE 7 

MISCELLANEOUS 

Section 7.01. Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is in all respects
ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 

Section 7.02. Trustee not Responsible for Recitals. The recitals herein contained are made by the Company and not by the Trustee,
and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 

  
 9 

 Section 7.03. New York Law to Govern. THIS SUPPLEMENTAL INDENTURE AND EACH SENIOR
NOTE SHALL BE DEEMED TO BE CONTRACTS MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

Section 7.04. Separability. In case any one or more of the provisions contained in this Supplemental Indenture or in the Senior
Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, then, to the extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provisions of this Supplemental Indenture or
of the Senior Notes, but this Supplemental Indenture and the Senior Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

Section 7.05. Counterparts. This Supplemental Indenture may be executed in any number of counterparts each of which shall be an
original, but such counterparts shall together constitute but one and the same instrument. 
 ARTICLE 8 

REMARKETING 

Section 8.01. Remarketing Procedures. (a) Unless a Special Event Redemption or a Successful Remarketing has occurred prior to
the applicable Remarketing Date, the Company shall engage the Remarketing Agent pursuant to the Remarketing Agreement for the Remarketing of the Senior Notes, The Company will request, not later than seven nor more than 15 calendar days prior to the
applicable Remarketing Date, that the Depositary or its nominee notify the Beneficial Owners or Depositary Participants holding Separate Senior Notes, Corporate Units and Treasury Units of the procedures to be followed in the applicable Remarketing.

 (b) Each Holder of Separate Senior Notes may elect to have Separate Senior Notes held by such Holder remarketed in any Remarketing. A
Holder making such an election must, pursuant to the Pledge Agreement, notify the Custodial Agent and deliver such Separate Senior Notes to the Custodial Agent on or prior to 5:00 p.m. (New York City time) on or prior to the fifth Business Day
immediately preceding the applicable Remarketing Date (but no earlier than the Interest Payment Date immediately preceding the applicable Remarketing Date). Any such notice and delivery may not be conditioned upon the level at which the Reset Rate
is established in the Remarketing. Any such notice and delivery may be withdrawn on or prior to 5:00 p.m. (New York City time) on the fifth Business Day immediately preceding the applicable Remarketing Date in accordance with the provisions set
forth in the Pledge Agreement. Any such notice and delivery not withdrawn by such time will be irrevocable with respect to such Remarketing. Pursuant to Section 5.07(c) of the Pledge Agreement, promptly after 11:00 a.m., New York City time, on
the Business Day immediately preceding the applicable Remarketing Date, the Custodial Agent, based on the notices and deliveries received by it prior to such time, shall notify the Remarketing Agent of the principal amount of Separate Senior Notes
to be tendered for remarketing and shall cause such Separate Senior Notes to be presented to the Remarketing Agent. Under Section 5.02 of the Purchase Contract Agreement, Senior Notes that are components of Corporate Units will be deemed
tendered for Remarketing and will be remarketed in accordance with the terms of the Remarketing Agreement. 

  
 10 

 (c) The right of each Holder of Senior Notes that are included in Corporate Units to have such
Senior Notes, and each Holder of Separate Senior Notes to have any Separate Senior Notes (together, the “Remarketed Senior Notes”), remarketed and sold on any Remarketing Date shall be limited to the extent that (i) the
Remarketing Agent conducts a Remarketing pursuant to the terms of the Remarketing Agreement, (ii) a Special Event Redemption has not occurred prior to such Remarketing Date, (iii) the Remarketing Agent is able to find a purchaser or
purchasers for Remarketed Senior Notes at the Remarketing Price or the Final Remarketing Price, as the case may be, and (iv) the purchaser or purchasers deliver the purchase price therefor to the Remarketing Agent as and when required. 

(d) Neither the Trustee, the Company nor the Remarketing Agent shall be obligated in any case to provide funds to make payment upon tender of
Senior Notes for remarketing. 
 Section 8.02. Remarketing. (a) Unless a Special Event Redemption has occurred prior to the
Initial Remarketing Date, on the Initial Remarketing Date, the Remarketing Agent shall, pursuant and subject to the terms of the Remarketing Agreement, use commercially reasonable efforts to remarket the Remarketed Senior Notes at a price (the
“Remarketing Price”) equal to approximately 100.25% (but in no event less than 100%) of the sum of the Treasury Portfolio Purchase Price and the Separate Senior Note Purchase Price. 

(b) In the case of a Failed Initial Remarketing and unless a Special Event Redemption has occurred prior to the Final Remarketing Date, on the
Final Remarketing Date, the Remarketing Agent shall use commercially reasonable efforts to remarket the Remarketed Senior Notes at a price (the “Final Remarketing Price”) equal to approximately 100.25% of the aggregate principal
amount of the Remarketed Senior Notes. It is understood and agreed that Remarketing on any Remarketing Date will be considered successful and no further attempts will be made if the resulting proceeds are at least 100% of the sum of the Treasury
Portfolio Purchase Price and the Separate Senior Note Purchase Price, and 100% of the aggregate principal amount of the Remarketed Senior Notes in the case of the Final Remarketing. 

Section 8.03. Reset Rate and Extended Maturity Date. (a) In connection with each Remarketing, the Remarketing Agent shall
determine, in consultation with the Company, the Reset Rate (rounded to the nearest one-thousandth (0.001) of one percent per annum) that the Remarketed Senior Notes should bear in order to have an aggregate market value equal to the Remarketing
Price or the Final Remarketing Price, as the case may be, and that in the sole discretion of the Remarketing Agent will enable it to remarket all of the Remarketed Senior Notes at the Remarketing Price or Final Remarketing Price, as the case may be,
in such Remarketing. 
 (b) Anything herein to the contrary notwithstanding, the Remarketing Agent shall have no obligation to determine
whether there is any limitation under applicable law on the Reset Rate or, if there is any such limitation, the maximum permissible Reset Rate on the Senior Notes and shall rely solely upon written notice from the Company (which the Company agrees
to provide prior to the eighth Business Day before the Initial Remarketing Date) as to whether or not there is any such limitation in any applicable jurisdiction. 

  
 11 

 (c) In connection with a Remarketing, the Remarketing Agent, in consultation with the Company,
may extend the Maturity Date to a date selected by the Company that is two or three years from the date on which the Reset Rate is set. Such extended maturity date (the “Extended Maturity Date”), if any, will be specified in the
remarketing announcement and will become effective on the date on which the Reset Rate is set. 
 (d) In connection with a Remarketing, the
Company may also elect to add any additional financial covenants as the Company may determine. Such an election would take effect upon a Successful Remarketing, on the Purchase Contract Settlement Date. In addition, as provided in
Section 2.05(b) herein, upon a Successful Remarketing, the Interest Payment Dates may be redetermined to provide for payment of interest semi-annually instead of quarterly. 

(e) In the event of a Failed Remarketing or if no Senior Notes are included in Corporate Units and none of the holders of the Separate Senior
Notes elect to have their Senior Notes remarketed in any Remarketing, the applicable interest rate on the Senior Notes will not be reset and will continue to be the Coupon Rate and the Maturity Date will not be extended. 

(f) In the event of a Successful Remarketing, the Coupon Rate shall be reset at the Reset Rate as determined by the Remarketing Agent under
the Remarketing Agreement and the Maturity Date will be extended to the Extended Maturity Date. 
 Section 8.04. Failed
Remarketing. (a) If, by 4:00 p.m. (New York City time) on any Remarketing Date, the Remarketing Agent is unable to remarket all of the Remarketed Senior Notes at the Remarketing Price or the Final Remarketing Price, as the case may be,
pursuant to the terms and conditions hereof, a Failed Remarketing shall be deemed to have occurred, and the Remarketing Agent shall so advise by telephone the Depositary, the Purchase Contract Agent and the Company. Whether or not there has been a
Failed Remarketing will be determined in the sole reasonable discretion of the Remarketing Agent. Promptly following any Failed Remarketing, the Remarketing Agent shall return Separate Senior Notes submitted for remarketing, if any, to the Custodial
Agent for distribution to the appropriate Holders. 
 (b) The Company shall cause a notice of such Failed Remarketing to be published in a
daily newspaper in the English language of general circulation in the City of New York, which is expected to be The Watt Street Journal. 

Section 8.05. Put Right. (a) Subject to paragraph (b) hereof, if there has not been a Successful Remarketing prior to
the Purchase Contract Settlement Date, Holders of Separate Senior Notes and Holders of Senior Notes that are a component of Corporate Units will, subject to this Section 8.05, have the right (the “Put Right”) to require the
Company to purchase their Senior Notes, on the Purchase Contract Settlement Date, at a price per Senior Note equal to $1,000.00, plus accrued and unpaid interest to but excluding the Purchase Contract Settlement Date (the “Put
Price”). 

  
 12 

 (b) The Put Right of Holders of Senior Notes that are part of Corporate Units will be
automatically exercised unless such Holders (1) prior to 11:00 a.m., New York City time, on the second Business Day immediately preceding the Purchase Contract Settlement Date, provide written notice to the Purchase Contract Agent of their
intention to settle the related Purchase Contract with separate cash, and (2) on or prior to 5:00 p.m., New York City time, on the Business Day immediately preceding the Purchase Contract Settlement Date, deliver to the Collateral Agent $25 in
cash per Purchase Contract, in each case pursuant to the Purchase Contract Agreement and such Holders shall be deemed to have elected to pay the Purchase Price for the shares of Common Stock to be issued under the related Purchase Contract from a
portion of the Proceeds of the Put Right of such Senior Notes equal to the Purchase Price in full satisfaction of such Holders’ obligations under the Purchase Contracts, and any remaining amount of the Put Price following satisfaction of the
related Purchase Contract will be paid to such Holder. 
 (c) The Put Right of a Holder of a Separate Senior Note shall only be exercisable
upon delivery of a notice to the Trustee by such Holder on or prior to the second Business Day prior to the Purchase Contract Settlement Date. On or prior to the Purchase Contract Settlement Date, the Company shall deposit with the Trustee
immediately available funds in an amount sufficient to pay, on the Purchase Contract Settlement Date, the aggregate Put Price of all Separate Senior Notes with respect to which a Holder has exercised a Put Right. In exchange for any Separate Senior
Notes surrendered pursuant to the Put Right, the Trustee shall then distribute such amount to the Holders of such Separate Senior Notes. 

Section 8.06. Additional Event of Default. In addition to the events listed as Events of Default in Section 501 of the Base
Indenture, it shall be an additional Event of Default with respect to the Senior Notes, if the Company shall not have satisfied its obligation to pay the Put Price when due with respect to any Separate Senior Note following exercise of the Put Right
in accordance with Section 8.05. 
 ARTICLE 9 

TAX TREATMENT 

Section 9.01. Tax Treatment. The Company agrees, and by acceptance of a Corporate Unit, each holder of a Corporate Unit will be
deemed to have agreed (1) for United States federal, state and local income and franchise tax purposes to treat the acquisition of a Corporate Unit as the acquisition of the Senior Note and the Purchase Contract constituting the Corporate Unit
and (2) to treat the Senior Note as indebtedness for United States federal, state and local income and franchise tax purposes. A Holder of Senior Notes may obtain the comparable yield and projected payment schedule for the Senior Notes,
determined by the Company pursuant to Treas. Reg. Sec. 1.1275-4, by submitting a written request for such information to the Company at the following address: Albertson’s, Inc., 250 Parkcenter Boulevard, P.O. Box 20, Boise, Idaho 83726,
Attention: Treasurer. 

  
 13 

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

			
	ALBERTSON’S, INC.
		
	By:		/s/ John Boyd
	Name:		John Boyd
	Title:		Group Vice President and Treasurer

  

			
	Attest:
	
	 /s/ Julie Backe
 Name: Julie
Backe
 Title:    Assistant Secretary

 

			
	U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee
		
	By:		
	Name:		
	Title:		

 First Supplemental Indenture 

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

			
	ALBERTSON’S, INC.
		
	By:		
	Name:		
	Title:		

  

			
	Attest:		
		
	Name:		
	Title:		

  

			
	U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee
		
	By:		/s/ Patrick J. Crowley
	Name:		PATRICK J. CROWLEY
	Title:		Vice President

 EXHIBIT A 

[IF THIS SENIOR NOTE IS TO BE A GLOBAL SECURITY, INSERT:] THIS SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY OR A NOMINEE OF THE DEPOSITORY TRUST COMPANY. THIS SENIOR NOTE IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY TRUST COMPANY OR ITS NOMINEE
ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY TO A NOMINEE OF THE DEPOSITORY TRUST COMPANY OR BY A NOMINEE OF THE DEPOSITORY TRUST COMPANY TO THE DEPOSITORY
TRUST COMPANY OR ANOTHER NOMINEE OF THE DEPOSITORY TRUST COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

No.        _ 

CUSIP No.013104 40 1 
 $500,000,000 

ALBERTSON’S, INC. 
 SENIOR
NOTE 
 DUE 2009 
 ALBERTSON’S, INC., a
corporation organized and existing under the laws of Delaware (hereinafter called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay
to                 , or registered assigns, the principal sum of up to FIVE HUNDRED MILLION Dollars ($500,000,000), as set forth in the Schedule of Increases or
Decreases In Senior Note attached hereto, on February 16, 2009 (such date is hereinafter referred to as the “Maturity Date”), and to pay interest thereon from August 16, 2004 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, quarterly in arrears on February 16, May 16, August 16 and November 16 of each year, commencing August 16, 2004, at the rate of 3.75% per annum through and
including the day immediately preceding the Reset Effective Date, if any, 

  
 A-2 

 
and thereafter semi-annually at the Reset Rate, if any, on the basis of a 360-day year consisting of twelve 30-day months, until the principal hereof is paid or duly provided for or made
available for payment, and (to the extent that the payment of such interest shall be legally enforceable) to pay interest, compounded quarterly, at the rate of 3.75% per annum on any overdue principal and payment of interest through and
including the day immediately preceding the Reset Effective Date, if any, and thereafter at the Reset Rate and on semi-annual Interest Payment Dates, if any. The amount of interest payable for any period shorter than a full quarterly period or,
following a Successful Remarketing, semi-annual period as applicable, for which interest is computed will be computed on the basis of a 30-day month and, for any period less than a month, on the basis of the actual number of days elapsed per 30-day
month. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Senior Note (or one or more Predecessor Senior Notes) is registered
at the close of business on the Record Date for such Interest Payment Date. 
 Payment of the principal of and interest on this Senior Note will be made at
the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City of New York, which shall initially be the Corporate Trust Office of the Trustee, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Holder at such address as shall appear in the Security
Register or by wire transfer to an account appropriately designated by the Holder entitled to payment. 
 Reference is hereby made to the further provisions
of this Senior Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

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

  
 A-3 

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

Dated: 
  

			
	ALBERTSON’S, INC.
		
	By:		
	Name:		
	Title:		

  

			
	[SEAL]
		
	Name:		
	Title:		

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Senior Notes referred to in the within mentioned Indenture. 

Dated:                         
                                      

 

			
	U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee
		
	By:		
			Authorized Signatory

  
 A-4 

 FORM OF REVERSE OF SENIOR NOTE 

This Senior Note is one of a duly authorized issue of securities of the Company (herein called the “Senior Notes”), issued
and to be issued in one or more series under an Indenture, dated as of May 1, 1992, between the Company and U.S. Bank Trust National Association, as successor trustee (herein called the “Trustee”, which term includes any
successor trustee) (the “Base Indenture”), as supplemented by the Supplemental Indenture No. 1 between the Company and the Trustee (the “Supplemental Indenture” and together with the Base Indenture, the
“Indenture”), to which Indenture reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Senior Notes and of the
terms upon which the Senior Notes are, and are to be, authenticated and delivered. This Senior Note is one of the series designated on the face hereof, limited in aggregate principal amount to $1,000,000,000 (or up to $1,150,000,000 to the extent
that the over-allotment option granted to the Underwriters pursuant to the Underwriting Agreement is exercised). 

If a Special Event shall occur and be continuing, the Company may, at its option, redeem the Senior Notes of this series in whole, but not in
part, on any Interest Payment Date prior to the earlier of the date of a Successful Remarketing and the Purchase Contract Settlement Date, at a price per Senior Note equal to the Redemption Price as set forth in the Indenture. 

If there has not been a Successful Remarketing prior to the Purchase Contract Settlement Date, the holders of Senior Notes will have the right
to require the Company to purchase their Senior Notes on the Purchase Contract Settlement Date, all as more fully described in the Supplemental Indenture. 

The Senior Notes are not entitled to the benefit of any sinking fund and will not be subject to defeasance. 

If an Event of Default with respect to Senior Notes of this series shall occur and be continuing, the principal of the Senior Notes of this
series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Senior Notes at any time by the Company and the Trustee with the consent of the Holders of
at least a majority in principal amount of the Senior Notes at the time Outstanding. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Senior Notes at the time Outstanding, on behalf of
the Holders of all Senior Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Senior Note shall be
conclusive and binding upon such Holder and upon all future Holders of this Senior Note and of any Senior Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Senior Note. 

  
 R-1 

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

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Senior Note is registrable in the
Securities Register, upon surrender of this Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Senior Note are payable, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the Securities Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Senior Notes of this series, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Senior Notes
of this series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Senior Notes of this series are
exchangeable for a like aggregate principal amount of Senior Notes of this series of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Senior Note for registration
of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Senior Note is registered as the owner hereof for all purposes, whether or not this Senior Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Senior Note which are defined
in the Indenture shall have the meanings assigned to them in the Indenture. 
 This Senior Note shall be governed by the laws of New York.

 The Company agrees, and by acceptance of a Corporate Unit, each holder of a Corporate Unit will be deemed to have agreed (1) for
United States federal, state and local income and franchise tax purposes to treat the acquisition of a Corporate Unit as the acquisition of the Senior Note and the Purchase Contract constituting the Corporate Unit and (2) to treat the Senior
Note as indebtedness for United States federal, state and local income and franchise tax purposes. A Holder of Senior Notes may obtain the comparable yield and projected payment schedule for the Senior Notes, determined by the Company pursuant to
Treas. Reg. Sec. 1.1275-4, by submitting a written request for it to the Company at the following address: Albertson’s, Inc., 250 Parkcenter Boulevard, P.O. Box 20, Boise, Idaho 83726; Attention: Treasurer. 

  
 R-2 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Senior Note to: 
  

 
  

 
     (Insert assignee’s
social security or taxpayer identification number) 
  
  

 
  
  

 
     (Insert address and zip
code of assignee) 
     and irrevocably appoints 
  

 
  

 
  

 
 agent to transfer this Senior Note on the books of
the Company. The agent may substitute another to act for him or her. 
  

			
	Date:                                  		 
			Signature:
		
			Signature Guarantee:

 (Sign exactly as your name appears on the other side of this Senior Note) 

 SIGNATURE GUARANTEE 

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

Name: 
 Title: 

 SCHEDULE OF INCREASES OR DECREASES IN SENIOR NOTE 

The following increases or decreases in a part of this Senior Note have been made: 
  

											
	 Date
	  	 Amount of decrease in
principal amount
of
this Senior Note
	  	Amount of increase
in principal amount
of this Senior Note	  	 Principal amount of this
Senior Note
following
such decrease
 (or increase)
	  	 Signature of authorized
officer of
Trustee

				
	 	  		  		  	
	 Created by 10KWizard www.10KWizard.com
	  		  		  	

 EX-4.1 

INDENTURE 
  

 
  

ALBERTSON’S, INC. 
 and 

MORGAN GUARANTY TRUST COMPANY OF NEW YORK 

Trustee 
  

 
 INDENTURE 

Dated as of May 1, 1992 
  

 
 Debt Securities

  
  

 

 ALBERTSON’S, INC. 

Reconciliation and tie showing the location in the Indenture dated as of May 1, 1992 of the provisions inserted pursuant to Sections 310
to 318(a), inclusive, of the Trust Indenture Act of 1939. 
  

					
	 Trust Indenture Act Section
	  	Indenture Section	 
	 Section 310 (a) (1)
	  	 	609	  
	 (a) (2)
	  	 	609	  
	 (a) (3)
	  	 	Not Applicable	  
	 (a) (4)
	  	 	Not Applicable	  
	 (b)
	  	 	608	  
		  	 	610	  
	 Section 311 (a)
	  	 	613	  
	 (b)
	  	 	613	  
	 Section 312 (a)
	  	 	701	  
		  	 	702 (a)	  
	 (b)
	  	 	702 (b)	  
	 (c)
	  	 	702 (c)	  
	 Section 313 (a)
	  	 	703 (a)	  
	 (b)
	  	 	703 (a)	  
	 (c)
	  	 	703 (a)	  
	 (d)
	  	 	703 (b)	  
	 Section 314 (a)
	  	 	704	  
	 (a) (4)
	  	 	101	  
		  	 	1004	  
	 (b)
	  	 	Not Applicable	  
	 (c) (1)
	  	 	102	  
	 (c) (2)
	  	 	102	  
	 (c) (3)
	  	 	Not Applicable	  
	 (d)
	  	 	Not Applicable	  
	 (e)
	  	 	102	  
	 Section 315 (a)
	  	 	601	  
	 (b)
	  	 	602	  
	 (c)
	  	 	601	  
	 (d)
	  	 	601	  
	 (e)
	  	 	514	  
	 Section 316 (a)
	  	 	101	  
	 (a) (1) (A)
	  	 	502	  
		  	 	512	  
	 (a) (1) (B)
	  	 	513	  
	 (a) (2)
	  	 	Not Applicable	  
	 (b)
	  	 	508	  
	 (c)
	  	 	104 (c)	  
	 Section 317 (a) (1)
	  	 	503	  
	 (a) (2)
	  	 	504	  
	 (b)
	  	 	1003	  
	 Section 318 (a)
	  	 	107	  

 NOTE: This reconciliation and its tie shall not, for any purpose, be deemed to be a part of the Indenture. 

 TABLE OF CONTENTS 

Page 
 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 
  

							
	 Section 101.
		 Definitions
		 	2	  
	 Section 102.
		Compliance Certificates and Opinions		 	9	  
	 Section 103.
		Form of Documents Delivered to Trustee		 	9	  
	 Section 104.
		Acts of Holders; Record Dates		 	10	  
	 Section 105.
		Notices, Etc., to Trustee and Company		 	11	  
	 Section 106.
		Notice to Holders; Waiver		 	12	  
	 Section 107.
		Conflict with Trust Indenture Act		 	12	  
	 Section 108.
		Effect of Headings and Table of Contents		 	12	  
	 Section 109.
		Successors and Assigns		 	12	  
	 Section 110.
		Separability Clause		 	12	  
	 Section 111.
		Benefits of Indenture		 	13	  
	 Section 112.
		Governing Law		 	13	  
	 Section 113.
		Legal Holidays		 	13	  

 ARTICLE TWO 

SECURITY FORMS 
  

							
	 Section 201.
		 Forms Generally
		 	13	  
	 Section 202.
		Form of Legend for Global Securities		 	14	  
	 Section 203.
		Form of Trustee’s Certificate of Authentication		 	14	  

 ARTICLE THREE 

THE SECURITIES 
  

							
	 Section 301.
		 Amount Unlimited; Issuable in Series
		 	15	  
	 Section 302.
		 Denominations
		 	16	  

  
 ii 

							
	 Section 303.
		 Execution, Authentication, Delivery and Dating
		 	17	  
	 Section 304.
		 Temporary Securities
		 	18	  
	 Section 305.
		 Registration, Registration of Transfer and Exchange
		 	18	  
	 Section 306.
		 Mutilated, Destroyed, Lost and Stolen Securities
		 	20	  
	 Section 307.
		 Payment of Interest; Interest Rights Preserved
		 	21	  
	 Section 308.
		 Persons Deemed Owners
		 	22	  
	 Section 309.
		 Cancellation
		 	22	  
	 Section 310.
		 Computation of Interest
		 	23	  

 ARTICLE FOUR 

SATISFACTION AND DISCHARGE 
  

							
	 Section 401.
		 Satisfaction and Discharge of Indenture
		 	23	  
	 Section 402.
		 Application of Trust Money
		 	24	  

 ARTICLE FIVE 

REMEDIES 
  

							
	 Section 501.
		 Events of Default
		 	25	  
	 Section 502.
		 Acceleration of Maturity; Rescission and Annulment
		 	27	  
	 Section 503.
		 Collection of Indebtedness and Suits for Enforcement by Trustee
		 	28	  
	 Section 504.
		 Trustee May File Proofs of Claim
		 	29	  
	 Section 505.
		 Trustee May Enforce Claims Without Possession of Securities
		 	30	  
	 Section 506.
		 Application of Money Collected
		 	30	  
	 Section 507.
		 Limitation on Suits
		 	30	  
	 Section 508.
		 Unconditional Right of Holders to Receive Principal, Premium and Interest
		 	31	  
	 Section 509.
		 Restoration of Rights and Remedies
		 	31	  
	 Section 510.
		 Rights and Remedies Cumulative
		 	31	  
	 Section 511.
		 Delay or Omission Not Waiver
		 	32	  
	 Section 512.
		 Control by Holders
		 	32	  

  
 iii 

							
	 Section 513.
		 Waiver of Past Defaults
		 	32	  
	 Section 514.
		 Undertaking for Costs
		 	33	  
	 Section 515.
		 Waiver of Stay or Extension Laws
		 	33	  

 ARTICLE SIX 

THE TRUSTEE 
  

							
	 Section 601.
		 Certain Duties and Responsibilities
		 	33	  
	 Section 602.
		 Notice of Defaults
		 	34	  
	 Section 603.
		 Certain Rights of Trustee
		 	34	  
	 Section 604.
		 Not Responsible for Recitals or Issuance of Securities
		 	35	  
	 Section 605.
		 May Hold Securities
		 	35	  
	 Section 606.
		 Money Held in Trust
		 	35	  
	 Section 607.
		 Compensation and Reimbursement
		 	35	  
	 Section 608.
		 Disqualification; Conflicting Interests
		 	36	  
	 Section 609.
		 Corporate Trustee Required; Eligibility
		 	36	  
	 Section 610.
		 Resignation and Removal; Appointment of Successor
		 	36	  
	 Section 611.
		 Acceptance of Appointment by Successor
		 	38	  
	 Section 612.
		 Merger, Conversion, Consolidation or Succession to Business
		 	39	  
	 Section 613.
		 Preferential Collection of Claims Against Company
		 	39	  
	 Section 614.
		 Appointment of Authenticating Agent
		 	39	  

 ARTICLE SEVEN 

 

							
	 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

 
	   
 

	 Section 701.
		 Company to Furnish Trustee Names and Addresses of Holders
		 	41	  
	 Section 702.
		 Preservation of Information; Communications to Holders
		 	41	  
	 Section 703.
		 Reports by Trustee
		 	41	  
	 Section 704.
		 Reports by Company
		 	42	  

  
 iv 

 ARTICLE EIGHT 

							
			
			CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE				
			
	 Section 801.
		 Company May Consolidate, Etc., Only on Certain Terms
		 	42	  
	 Section 802.
		 Successor Substituted
		 	43	  
	
	ARTICLE NINE	  
	
	SUPPLEMENTAL INDENTURES	  
			
	 Section 901.
		 Supplemental Indentures Without Consent of Holders
		 	43	  
	 Section 902.
		 Supplemental Indentures with Consent of Holders
		 	44	  
	 Section 903.
		 Execution of Supplemental Indentures
		 	45	  
	 Section 904.
		 Effect of Supplemental Indentures
		 	45	  
	 Section 905.
		 Conformity with Trust Indenture Act
		 	45	  
	 Section 906.
		 Reference in Securities to Supplemental Indentures
		 	46	  
	
	ARTICLE TEN	  
	
	COVENANTS	  
			
	 Section 1001.
		 Payment of Principal, Premium and Interest
		 	46	  
	 Section 1002.
		 Maintenance of Office or Agency
		 	46	  
	 Section 1003.
		 Money for Securities Payments to Be Held in Trust
		 	46	  
	 Section 1004.
		 Statement by Officers as to Default
		 	47	  
	 Section 1005.
		 Existence
		 	48	  
	 Section 1006.
		 Maintenance of Properties
		 	48	  
	 Section 1007.
		 Payment of Taxes and Other Claims
		 	48	  
	 Section 1008.
		 Limitations on Liens
		 	48	  
	 Section 1009.
		 Limitations on Sale and Leaseback Transactions
		 	50	  
	 Section 1010.
		 Waiver of Certain Covenants
		 	51	  

  
 v 

							
	 ARTICLE ELEVEN
  

REDEMPTION OF SECURITIES
	   
 

  

			
	 Section 1101.
		 Applicability of Article
		 	51	  
	 Section 1102.
		 Election to Redeem; Notice to Trustee
		 	52	  
	 Section 1103.
		 Selection by Trustee of Securities to Be Redeemed
		 	52	  
	 Section 1104.
		 Notice of Redemption
		 	53	  
	 Section 1105.
		 Deposit of Redemption Price
		 	53	  
	 Section 1106.
		 Securities Payable on Redemption Date
		 	54	  
	 Section 1107.
		 Securities Redeemed in Part
		 	54	  
	
	ARTICLE TWELVE	  
	
	SINKING FUNDS	  
			
	 Section 1201.
		 Applicability of Article
		 	54	  
	 Section 1202.
		 Satisfaction of Sinking Fund Payments with Securities
		 	55	  
	 Section 1203.
		 Redemption of Securities for Sinking Fund
		 	55	  
	
	ARTICLE THIRTEEN	  
	
	DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 Section 1301.
		 Company’s Option to Effect Defeasance or Covenant Defeasance
		 	55	  
	 Section 1302.
		 Defeasance and Discharge
		 	56	  
	 Section 1303.
		 Covenant Defeasance
		 	56	  
	 Section 1304.
		 Conditions to Defeasance or Covenant Defeasance
		 	56	  

  
 vi 

							
	 Section 1305.
		 Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions
		 	58	  
	 Section 1306.
		 Reinstatement
		 	58	  
	 TESTIMONIUM
				
	 SIGNATURES AND SEALS
				
	 ACKNOWLEDGEMENTS
				

 INDENTURE, dated as of May 1, 1992, between ALBERTSON’S, INC., a
corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”), having its principal office at 250 Parkcenter Boulevard, Boise, Idaho 83726 and MORGAN GUARANTY TRUST COMPANY OF NEW YORK, a
corporation duly organized and existing under the laws of the State of New York, as Trustee hereunder (herein called the “Trustee”). 

RECITALS OF THE COMPANY 
 The
Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured and unsubordinated debentures, notes or other evidences of senior indebtedness (herein called the
“Securities”), unlimited as to principal amount, to bear such rates of interest, to mature at such time or times, to be issued in one or more series and to have such other provisions as shall be fixed as hereinafter Provided. 

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

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of series thereof, as follows: 
 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 

OF GENERAL APPLICATION 
 SECTION 101. Definitions.

 For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(1) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the
singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference
therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the
meanings assigned to them in accordance with generally accepted accounting principles in the United States of America and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to
any computation required or permitted hereunder shall mean such accounting principles as are generally accepted at the date of such computation; and 

  
 2 

 (4) the words “herein,” “hereof” and “hereunder”
and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

“Act”, when used with respect to any Holder, has the meaning specified in Section 104. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For the purposes of this definition, “control”, when used with respect to any specified Person, means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Attributable Debt” means, as to any particular lease under which the Company or any Subsidiary is at the time liable and at any
date as of which the amount thereof is to be determined, the total net amount of rent required to be paid under such lease during the remaining term thereof (including any period for which such lease has been extended or may, at the option of the
lessor, be extended), discounted from the respective due dates thereof to such date at a rate per annum equal to the weighted average interest rate per annum borne by the Securities of each series outstanding hereunder compounded semi-annually. The
net amount of rent required to be paid under any such lease for any such period shall be the aggregate amount of the rent payable by the lessee with respect to such period after excluding amounts required to be paid on account of maintenance and
repairs, insurance, taxes, assessments, water rates and similar charges. In the case of any lease which is terminable by the lessee upon the payment of a penalty, such net amount shall also include the amount of such penalty, but no rent shall be
considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated. 
 “Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 614 to act on behalf of the Trustee to authenticate Securities of one or more series. 

“Board of Directors” means either the Board of Directors of the Company or any committee of that board duly authorized to act for it
hereunder. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company
to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday that is
not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order to close, except as may otherwise be provided in the form of Securities of any particular series pursuant to the provisions of
this Indenture. 
 “Capital Lease Obligations” mean any rental obligation which, under generally accepted accounting principles,
is or will be required to be capitalized on the books of the Company or any Subsidiary, taken at the amount thereof accounted for as indebtedness (net of interest expense) in accordance with such principles. 

“Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if
at any time after the execution of this 

  
 3 

 
instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

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

“Company Request” or “Company Order” means a written request or order signed in the name of the Company by its Chairman of
the Board, its Vice Chairman of the Board, its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee. 

“Consolidated Net Tangible Assets” means the net book value of all assets of the Company and its consolidated Subsidiaries,
excluding any amounts carried as assets for shares of capital stock held in treasury, debt discount and expense, goodwill, patents, trademarks and other intangible assets, less all liabilities of the Company and its consolidated Subsidiaries (except
Funded Debt, minority interests in consolidated Subsidiaries, deferred taxes and general contingency reserves of the Company and its consolidated Subsidiaries), which in each case would be included on a consolidated balance sheet of the Company and
its consolidated Subsidiaries as of the date of determination, all as determined on a consolidated basis in accordance with generally accepted accounting principles. 

“Corporate Trust Office” means the principal office of the Trustee at which at any particular time its corporate trust business
shall be conducted, which office, at the date of execution of this Indenture, is located at 60 Wall Street, 36th Floor, New York, New York 10260. 

“corporation” means any corporation, association, company, joint-stock company or business trust. 

“Covenant Defeasance” has the meaning specified in Section 1303. 

“Debt” means any indebtedness for money borrowed or evidenced by a bond, debenture, note or other similar instrument, whether or not
for money borrowed. 
 “Defaulted Interest” has the meaning specified in Section 307. 

“Defeasance” has the meaning specified in Section 1302. 

“Defeasible Series” has the meaning specified in Section 1301. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301. 

“Event of Default” has the meaning specified in Section 501. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any statute successor thereto. 

  
 4 

 “Funded Debt” means (a) all indebtedness of the Company and its Subsidiaries for
money borrowed, or evidenced by a bond, debenture, note or other similar instrument, whether or not for money borrowed, maturing on, or renewable or extendible at the option of the obligor to, a date more than one year from the date of the
determination thereof (but not including indebtedness under any revolving credit arrangement with banks except for any indebtedness converted pursuant to any such arrangement into a term loan which meets the requirements of this Clause (a)),
(b) Capital Lease Obligations payable on a date more than one year from the date of the determination thereof, (c) guarantees, direct or indirect, and other contingent obligations of the Company and its Subsidiaries in respect of, or to
purchase or otherwise acquire or be responsible or liable for (through the investment of funds or otherwise), any obligations of the type described in the foregoing Clause (a) or (b) of others (but not including contingent liabilities on
customer’s receivables sold with recourse), and (d) amendments, renewals, extensions and refundings of any obligations of the type described in the foregoing Clauses (a), (b) or (c). 

“Global Security” means a Security that evidences all or part of the Securities of any series and is authenticated and delivered to,
and registered in the name of, the Depositary for such Securities or a nominee thereof. 
 “Holder” means a Person in whose name a
Security is registered in the Security Register. 
 “Indenture” means this instrument as originally executed or as it may from
time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of
the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as
contemplated by Section 301. 
 “interest”, when used with respect to an Original Issue Discount Security which by its terms
bears interest only after Maturity, means interest payable after Maturity. 
 “Interest Payment Date”, when used with respect to
any Security, means the Stated Maturity of an installment of interest on such Security. 
 “Lien” means any mortgage, pledge,
lien, security interest, charge or encumbrance of any kind (including any conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any of the foregoing). 

“Maturity”, when used with respect to any Security, means the date on which the principal of such Security or an installment of
principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Nonrecourse Obligation” means indebtedness or lease payment obligations substantially related to (i) the acquisition of assets
not previously owned by the Company or any Subsidiary or (ii) the financing of a project involving the development or expansion of properties of the Company or any Subsidiary, as to which the obligee with respect to such indebtedness or
obligation has no recourse to the Company or any Subsidiary or any assets of the Company or any Subsidiary other than the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction
(and the proceeds thereof). 

  
 5 

 “Notice of Default” means a written notice of the kind specified in Section 501
(4). 
 “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the
President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee. One of the officers signing an Officers’ Certificate given pursuant to
Section 1004 shall be the principal executive, financial or accounting officer of the Company. 
 “Opinion of Counsel” means
a written opinion of counsel, who may be an employee of or counsel for the Company, acceptable to the Trustee. 
 “Original Issue
Discount Security” means any Security that provides for declaration of an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (1) Securities theretofore cancelled by the Trustee or delivered
to the Trustee for cancellation; 
 (2) Securities for whose payment or redemption money in the necessary amount has been
theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided that, if
such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

(3) Securities as to which Defeasance has been effected pursuant to Section 1302; and 

(4) Securities that have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose
hands such Securities are valid obligations of the Company; 
 provided, however, that in determining whether the Holders of the requisite principal amount
of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders of Securities for quorum purposes, (A) the principal amount of an Original Issue
Discount Security that shall be deemed to be Outstanding shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon acceleration of the Maturity thereof pursuant to Section 502 and
(B) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, or upon any such determination as to the presence of a quorum, only Securities that the Trustee knows to be so owned shall be so disregarded.
Securities so owned that have been pledged in good faith may 

  
 6 

 
be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company
or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
 “Paying Agent” means any
Person authorized by the Company to pay the principal of (and premium, if any) or interest on any Securities on behalf of the Company. 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated
organization or government or any agency or political subdivision thereof. 
 “Place of Payment”, when used with respect to the
Securities of any series, means the place or places where the principal of (and premium, if any) and interest on the Securities of that series are payable as specified as contemplated by Section 301. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal Property” means (a) any real
property (including, without limitation, leasehold interests) together with the improvements thereon and the equipment, if any, constituting a part of the facility located thereon (including, without limitation, any warehouse, service center,
shopping center or distribution center, wherever located) and (b) other equipment, in each case, of the Company or any Subsidiary and having a book value on the date as of which the determination is being made of more than 1% of Consolidated
Net Tangible Assets as most recently determined prior to such date; provided, however, that for purposes of Clause (a) above, separate parcels of real property which are operated generally as part of a single facility (such as a single
warehouse, service center, shopping center or distribution center) shall be deemed to be a single property, and for purposes of Clause (b) above, separate items of equipment that are secured by Liens shall be deemed to be a single property to
the extent they are secured by such Liens pursuant to the same financing transaction or a series of related financing transactions. 

“Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to
this Indenture. 
 “Redemption Price”, when used with respect to any Security to be redeemed, means the price at which it is to be
redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as contemplated by Section 301. 
 “Responsible Officer”,
when used with respect to the Trustee, means any officer of the Trustee assigned by the Trustee to administer its corporate trust matters. In the absence of bad faith on the part of the Company or a Holder, the Company or the Holder, as the case may
be, may conclusively rely upon the statement of an officer of the Trustee as to whether an officer (including the officer making the statement) is assigned by the Trustee to administer the Trustee’s corporate trust matters. 

  
 7 

 “Sale and Leaseback Transaction” has the meaning set forth in Section 1009. 

“Security” or “Securities” has the meaning set forth in the first recital of the Indenture and more particularly means any
Security or Securities, as the case may be, authenticated and delivered under this Indenture. 
 “Security Register” and
“Security Registrar” have the respective meanings specified in Section 305. 
 “Significant Subsidiary” has the
meaning set forth in Rule 1-02(v) of Article 1 of Regulation S-X (or any successor provision) of the Commission. 
 “Special Record
Date” for the payment of any Defaulted Interest on the Securities of any series means a date fixed by the Trustee pursuant to Section 307. 

“Stated Maturity”, when used with respect to any Security or any installment of principal thereof or interest thereon, means the
date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by the
Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors, whether at
all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
 “Trust Indenture Act”
means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the
extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 
 “Trustee” means the Person named as the
“Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then
a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 

“U.S. Government Obligations” means securities that are (i) direct obligations of the United States of America for the payment
of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the timely payment of which is unconditionally guaranteed as a
full faith and credit obligation by the United States of America, which, in either case under clauses (i) or (ii) are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a
bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by
such custodian for the account of the holder of a depository receipt, provided 

  
 8 

 
that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian
in respect of the U.S. Government Obligation or the specific payment of principal of or interest on the U.S. Government Obligation evidenced by such depository receipt. 

“Vice President”, when used with respect to the Company, means any Vice President, whether or not designated by a number or a word
or words added before or after the title “Vice President.” 
 “Wholly-owned”, when used with reference to a Subsidiary,
means a Subsidiary of which all of the outstanding capital stock (except for qualifying shares) is owned by the Company or by one or more Wholly-owned Subsidiaries, or both. 

SECTION 102. Compliance Certificates and Opinions. 

Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall
furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an officer of the Company, or an
Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include 

(1) a statement that each individual signing such certificate or opinion has read such covenant or condition and the
definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the
opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

SECTION 103. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

  
 9 

 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which
his certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company
stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to
such matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 SECTION
104. Acts of Holders; Record Dates. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose
of this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
 (c) The ownership of Securities
shall be proved by the Security Register. 
 (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered
to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 (e) The
Company may, in the circumstances permitted by the Trust Indenture Act, fix any day as the record date for the purpose of determining the Holders of Securities of any series entitled to give or take any request, demand, authorization, direction,
notice, consent, waiver or other action, or to vote on any action, authorized or permitted to be given or taken by 

  
 10 

 
Holders of Securities of such series. If not set by the Company prior to the first solicitation of a Holder of Securities of such series made by any Person in respect of any such action, or, in
the case of any such vote, prior to such vote, the record date for any such action or vote shall be the 30th day (or, if later, the date of the most recent list of Holders required to be provided pursuant to Section 701) prior to such first
solicitation or vote, as the case may be. With regard to any record date for action to be taken by the Holders of one or more series of Securities, only the Holders of Securities of such series on such date (or their duly designated proxies) shall
be entitled to give or take, or vote on, the relevant action. With regard to any record date set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date (or their duly appointed agents), and only
such Persons, shall be entitled to give or take the relevant action, whether or not such Holders remain Holders after such record date. With regard to any action that may be given or taken hereunder only by Holders of a requisite principal amount of
Outstanding Securities of any series (or their duly appointed agents) and for which a record date is set pursuant to this paragraph, the Company may, at its option, set an expiration date after which no such action purported to be given or taken by
any Holder shall be effective hereunder unless given or taken on or prior to such expiration date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date (or their duly appointed agents). On or prior
to any expiration date set pursuant to this paragraph, the Company may, on one or more occasions at its option, extend such date to any later date. Nothing in this paragraph shall prevent any Holder (or any duly appointed agent thereof) from giving
or taking, after any expiration date, any action identical to, or, at any time, contrary to or different from, any action given or taken, or purported to have been given or taken, hereunder by a Holder on or prior to such date, in which event the
Company may set a record date in respect thereof pursuant to this paragraph. Notwithstanding the foregoing or the Trust Indenture Act, the Company shall not set a record date for, and the provisions of this paragraph shall not apply with respect to,
any action to be given or taken by Holders pursuant to Sections 501, 502 or 512. 
 (f) Without limiting the foregoing, a Holder entitled
hereunder to give or take any action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such
appointment with regard to all or any different part of such principal amount. 
 SECTION 105. Notices, Etc., to Trustee and Company. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
 (1) the Trustee by any Holder or by the Company shall be
sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Administration, or 

(2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in
writing to the Trustee by the Company. 

  
 11 

 SECTION 106. Notice to Holders; Waiver. 

Where this Indenture or any Security provides for notice to Holders of Securities of any event, such notice shall be sufficiently given (unless
otherwise herein or in such Security expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at the address of such Holder as it appears in the Security Register, not later than the latest
date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture or any Security provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice,
either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders of Securities shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall
be impracticable to give such notice to Holders of Securities by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

SECTION 107. Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part
of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to
this Indenture as so modified or to be excluded, as the case may be. 
 SECTION 108. Effect of Headings and Table of Contents. 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

SECTION 109. Successors and Assigns. 
 All
covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 SECTION 110. Separability
Clause. 
 In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
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 SECTION 111. Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto, and their
successors hereunder, any Authenticating Agent, or Paying Agent, any Security Registrar and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

SECTION 112. Governing Law. 
 This Indenture and
the Securities shall be governed by and construed in accordance with the laws of the State of New York. 
 SECTION 113. Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture or of the Securities other than a provision of the Securities of any series that specifically states that such provision shall apply in lieu of this Section) payment of interest or
principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption
Date, or at the Stated Maturity, provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, to such next succeeding Business Day. 

ARTICLE TWO 
 SECURITY FORMS 

SECTION 201. Forms Generally. 
 The Securities of
each series shall be in substantially the form as shall established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations
as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities. Any portion of the text of any Security may be set forth on the reverse thereof, with an appropriate reference thereto
on the face of the Security. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. 

  
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 The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or
may be produced in any other manner, all as determined by the officers executing such Securities as evidence by their execution of such Securities. 

SECTION 202. Form of Legend for Global Securities 

Any Global Security authenticated and delivered hereunder may bear any legend required to comply with the requirements of any Depositary. 

SECTION 203. Form of Trustee’s Certificate of Authentication. 

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

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

 

			
	MORGAN GUARANTY TRUST COMPANY OF NEW YORK,
	As Trustee
		
	By		 
			Authorized Officer

  
 14 

 ARTICLE THREE 

THE SECURITIES 
 SECTION 301. Amount Unlimited;
Issuable in Series. 
 The aggregate principal amount of Securities that may be authenticated and delivered and Outstanding under this
Indenture is unlimited. 
 The Securities may be issued from time to time in one or more series. There shall be established in or pursuant
to a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any
series: 
 (1) the title of the Securities and the series in which such Securities shall be included (which shall distinguish
the Securities of the series from all other Securities); 
 (2) any limit upon the aggregate principal amount of the
Securities of the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to
Section 304, 305, 306, 906 or 1107 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

(3) the Person to whom any interest on any Security of the series shall be payable, if other than the Person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

(4) the date or dates on which the principal of the Securities of the series is payable; 

(5) the rate or rates at which such Securities shall bear interest, if any, or the method by which such rate or rates are
determined, the date or dates from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable, the Regular Record Date for any interest payable on any Securities on any Interest Payment Date, and the
basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months; 
 (6) the place
or places where the principal of and any premium and interest on Securities of the series shall be payable; 
 (7) the period
or periods within which, the price or prices at which and the terms and conditions upon which such Securities may be redeemed, in whole or in part, at the option of the Company; 

(8) the obligation, if any, of the Company to redeem or purchase such Securities pursuant to any sinking fund or analogous
provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which such Securities shall be redeemed or purchased, in whole or in part, pursuant to such
obligation, and any provisions for the remarketing of such Securities; 

  
 15 

 (9) if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which Securities of the series shall be issuable; 
 (10) if the amount of payments of principal of or any
premium or interest on such Securities may be determined with reference to an index, formula or other method based on a coin or currency other than U.S. dollars, or otherwise, the manner in which such amounts shall be determined; 

(11) if other than the principal amount thereof, the portion of the principal amount of any Securities of the series that shall
be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 
 (12) the applicability,
or non-applicability, or variation, of Sections 1008 and 1009 with respect to the Securities of such series: 
 (13) if
applicable, that the Securities of the series shall be defeasible as provided in Article Thirteen; 
 (14) if and as
applicable, that the Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the Depositary or Depositaries for such Global Security or Global Securities and any circumstances
other than those set forth in Section 305 in which any such Global Security may be transferred to, and registered and exchanged for Securities registered in the name of, a Person other than the Depositary for such Global Security or a nominee
thereof and in which any such transfer may be registered; and 
 (15) any other terms of the series (which terms shall not be
inconsistent with the provisions of this Indenture, except as permitted by Section 901(5)). 
 All Securities of any one series shall
be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 303) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such indenture supplemental hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened for issuances of additional
Securities of such series. 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an
appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 

SECTION 302. Denominations. 
 The Securities of
each series shall be issuable only in registered form without coupons in such denominations as shall be specified as contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities of any series,
the Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 

  
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 SECTION 303. Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by its Chairman of the Board, Vice Chairman of the Board, President or Vice President
serving as Chief Financial Officer or its Treasurer, under its corporate seal reproduced thereon attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 

Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the
Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order (which may provide that Securities that are the
subject thereof will be authenticated and delivered by the Trustee upon the telephonic or written order of Persons designated in said Company Order and that such Persons are authorized to determine such terms and conditions of said Securities as are
specified in the Company’s Order) shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted in Sections 201 and 301,
in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying
upon, an Opinion of Counsel stating, 
 (1) if the form of such Securities has been established by or pursuant to Board
Resolution as permitted by Section 201, that such form has been established in conformity with the provisions of this Indenture; 

(2) if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 301,
that such terms have been established in conformity with the provisions of this Indenture; and 
 (3) that such Securities,
when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in
accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights, to general equity principles and to such other
matters as counsel may specify. 
 If the form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the
issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 

  
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 Notwithstanding the provisions of Section 301 and of the preceding paragraph, if all
Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 301 or the Company Order and Opinion of Counsel otherwise required
pursuant to such preceding paragraph at or prior to the time of authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued
and contemplate issuance of all Securities of such series. 
 Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

SECTION 304. Temporary Securities. 
 Pending the
preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in
any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may
determine, as evidenced by their execution of such Securities. 
 If temporary Securities of any series are issued, the Company will cause
definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series
upon surrender of the temporary Securities of such series at the office or agency of the Company maintained pursuant to Section 1002 in a Place of Payment for such series for the purpose of exchanges of Securities of such series, without charge
to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series,
of any authorized denominations and of like aggregate principal amount and tenor. Until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such
series. 
 SECTION 305. Registration, Registration of Transfer and Exchange. 

The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in any
other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of the Securities of each series and of transfers of the Securities of each series. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided.

  
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 Upon surrender for registration of transfer of any Security of any series at the office or agency
in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations
and of a like aggregate principal amount and tenor. 
 At the option of the Holder, Securities of any series may be exchanged for other
Securities of the same series of any authorized denominations and of a like aggregate principal amount and tenor, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the
Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing
the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving any transfer. 

The Company shall not be required (i) to issue, register the transfer of or exchange Securities of any series during a period beginning
at the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of that series selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption in whole or in part, except in the case of any Security to be redeemed in part, the portion thereof not to be redeemed. 

Notwithstanding any other provision in this Indenture, any Global Security shall be exchangeable pursuant to this Section 305 for
Securities registered in the names of Persons other than the Depositary for such Global Security or its nominee only when (i) such Depositary notifies the Company and the Trustee in writing that it is unwilling or unable to continue as
Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and a successor Depositary is not appointed by the Company within 90 days, (ii) the Company in its sole
discretion determines that Securities shall no longer be represented by a Global Security and executes and delivers to the Trustee a Company Order that such Global Security shall be so exchangeable, (iii) there shall have occurred and be
continuing an Event of Default or an event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default with respect to the Securities represented by such Global Security or (iv) there shall exist such other
circumstances, if any, 

  
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as shall be specified for this purpose as contemplated by Section 301. Any Global Security that is exchangeable pursuant to clause (i), (ii), (iii) or (iv) above, shall be
surrendered by the Depositary, or such other depositary as shall be specified in the Company Order with respect thereto to, the Trustee, as the agent for such purpose, to be exchanged, in whole or in part, for definitive Securities without charge,
and the Trustee shall authenticate and deliver, in exchange for each portion of such permanent Global Security, an equal aggregate principal amount of definitive Securities, executed by the Company, of the same series of authorized denominations and
of like tenor as the portion of such Global Security to be exchanged, which shall be in the form of registered Securities as provided in the Company Order. 

Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security other than
pursuant to clauses (i), (ii), (iii) or (iv) in the preceding paragraph, whether pursuant to this Section, Sections 304, 306, 906 or 1107 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security.

 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any
Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona
fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount
and bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is
about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the
issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of
the Trustee) connected therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or
stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 
 The provisions of this
Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

  
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 SECTION 307. Payment of Interest; Interest Rights Preserved. 

Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security that is
payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest. 
 In the case of Securities represented by a Global Security registered in the name of or held by a Depositary or its
nominee, unless otherwise specified by Section 301, payment of principal, premium, if any, and interest, if any, will be made to the Depositary or its nominee, as the case may be, as the registered owner or Holder of such Global Security. None
of the Company, the Trustee, any Paying Agent, any Authenticating Agent nor the Security Registrar for such Securities will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial
ownership interest in a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date
(herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in
each case, as provided in Clause (1) or (2) below: 
 (1) The Company may elect to make payment of any Defaulted
Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in
the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with
the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more
than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record
Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such
series at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such
Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to
the following Clause (2). 
  

  
 21 

 (2) The Company may make payment of any Defaulted Interest on the Securities of
any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 At the option
of the Company, interest on Securities of any series that bear interest may be paid by mailing a check to the address of the person entitled thereto as such address shall appear in the Security Register. 

Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

SECTION 308. Persons Deemed Owners. 
 Prior to
due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of
receiving payment of principal of and any premium and (except as otherwise specified as contemplated by Section 301(3) and subject to Section 307) any interest on such Security and for all other purposes whatsoever, whether or not such
Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

In the case of a Global Security, so long as the Depositary for such Global Security, or its nominee, is the registered owner of such Global
Security, such Depositary or such nominee, as the case may be, will be considered the sole owner or Holder of the Securities represented by such Global Security for all purposes under this Indenture. Except as provided in Section 305, owners of
beneficial interests in a Global Security will not be entitled to have Securities that are represented by such Global Security registered in their names, will not receive or be entitled to receive physical delivery of such Securities in definitive
form and will not be considered the owners or Holders thereof under this Indenture. 
 Notwithstanding the foregoing, with respect to any
Global Security, nothing herein shall (i) prevent the Company, the Trustee, or any agent of the Company or the Trustee, from giving effect to any written certification, proxy or other authorization furnished by a Depositary or (ii) impair,
as between a Depositary and holders of beneficial interests in any Global Security, the operation of customary practices governing the exercise of the rights of the Depositary as Holder of such Global Security. 

SECTION 309. Cancellation. 
 All Securities
surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities surrendered
directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder that the Company may have acquired in
any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously 

  
 22 

 
authenticated hereunder that the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in
exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be destroyed by the Trustee and the Trustee shall deliver a certificate of such
destruction to the Company. 
 SECTION 310. Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a 360-day year of twelve 30-day months. 
 ARTICLE FOUR 

SATISFACTION AND DISCHARGE 
 SECTION 401.
Satisfaction and Discharge of Indenture. 
 This Indenture shall upon Company Request cease to be of further effect (except as to any
surviving rights of registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when

 (1) either 

(A) all Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or
stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company
or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

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

(i) have become due and payable, or 

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

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice
of redemption by the Trustee in the name, and at the expense, of the Company, 

  
 23 

 
and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose, lawful money of the United
States or U.S. Government Obligations which through the payment of interest and principal in respect thereof in accordance with their terms will provide lawful money not later than one day before the due dates of principal (and premium, if any) or
interest, or any combination thereof, in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date of such
deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

(2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

(3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 In the
event there are Securities of two or more series hereunder, the Trustee shall be required to execute an instrument acknowledging satisfaction and discharge of this Indenture only if requested to do so with respect to the Securities of all series to
which it is Trustee and if the other conditions thereto are met. In the event there are two or more Trustees hereunder, then the effectiveness of any such instrument shall be conditioned upon receipt of such instruments from all Trustees hereunder.

 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607,
the obligations of the Trustee to any Authenticating Agent under Section 614 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under
Section 402 and the last paragraph of Section 1003 shall survive. 
 SECTION 402. Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall
be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law.

  
 24 

 ARTICLE FIVE 

REMEDIES 
 SECTION 501. Events of Default. 

“Event of Default,” wherever used herein with respect to Securities of any series, means any one of the following events (whatever
the reason for such Event of Default and whether it shall be voluntary or involuntary or be 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), unless such event is either inapplicable to a particular series or it is specifically deleted or modified in the supplemental indenture creating such series of Securities or in the form of Security for such series: 

(1) default in the payment of any interest upon any Security of that series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 
 (2) default in the payment of the principal of (or premium, if
any, on) any Security of that series at its Maturity; or 
 (3) default in the deposit of any sinking fund payment, when and
as due by the terms of a Security of that series; or 
 (4) default in the performance, or breach, of any covenant or
warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the
benefit of series of Securities other than that series), and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee
by the Holders of at least 10% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default”
hereunder; or 
 (5) a default under any bond, debenture, note or other evidence of indebtedness for money borrowed by the
Company or any Significant Subsidiary (including a default with respect to Securities of any series other than that series) having an aggregate outstanding principal amount of at least $25,000,000 or under any mortgage, indenture or other instrument
under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed by the Company or any Significant Subsidiary (including this Indenture) having an aggregate outstanding principal amount of at least
$25,000,000, whether such indebtedness now exists or shall hereafter be created, which default (A) shall constitute a failure to make any principal payment of at least $25,000,000 with respect to such indebtedness when due and payable after the
expiration of any applicable grace period with respect thereto or (B) shall have resulted in such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable, without in the
case of Clause (A) or (B), as the case may be, such indebtedness having been discharged, or such acceleration having been rescinded or annulled, within a period 

  
 25 

 
of 10 days after there shall have been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 10% in aggregate
principal amount of the Outstanding Securities of that series a written notice specifying such default and requiring the Company or such Significant Subsidiary, as the case may be, to cause such indebtedness to be discharged or cause such
acceleration to be rescinded or annulled and stating that such notice is a “Notice of Default” hereunder; provided, however, that, subject to the provisions of Sections 601 and 602, the Trustee shall not be deemed to have knowledge of such
default unless either (i) a Responsible Officer of the Trustee shall have actual knowledge of such default or (ii) the Trustee shall have received written notice thereof from the Company, from any Holder, from the holder of any such
indebtedness or from the trustee under any such mortgage, indenture or other instrument; or 
 (6) the entry by a court
having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company or any Significant Subsidiary in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or
other similar law or (B) a decree or order adjudging the Company or any Significant Subsidiary a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of
the Company or any Significant Subsidiary under any applicable Federal or State law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or any Significant Subsidiary or of any
substantial part of their respective properties, or ordering the winding up or liquidation of their respective affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period
of 60 consecutive days; or 
 (7) the commencement by the Company or any Significant Subsidiary of a voluntary case or
proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for
relief in respect of the Company or any Significant Subsidiary in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or
insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of
or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or any Significant Subsidiary or of any substantial part of their respective properties, or the making by the Company
or any Significant Subsidiary of an assignment for the benefit of creditors, or the admission by the Company or any Significant Subsidiary in writing of its inability to pay its debts generally as they become due, or the taking of corporate action
by the Company or any Significant Subsidiary in furtherance of any such action; or 
 (8) any other Event of Default provided
with respect to Securities of that series. 
 Upon receipt by the Trustee of any Notice of Default pursuant to this Section 501 with
respect to Securities of any series, a record date shall automatically and without any other action by any Person be set for the purpose of determining the Holders of Outstanding Securities of such series entitled to join in such Notice of Default,
which record date shall be the close of 

  
 26 

 
business on the day the Trustee receives such Notice of Default. Promptly after the establishment of a record date pursuant to the provisions of this Section 501, the Trustee shall notify
the Company and the Holders of Outstanding Securities of such series of the establishment of such record date. The Holders of Outstanding Securities of such series on such record date (or their duly appointed agents), and only such Persons, shall be
entitled to join in such Notice of Default, whether or not such Holders remain Holders after such record date; provided that, unless such Notice of Default shall have become effective by virtue of Holders of the requisite principal amount of
Outstanding Securities of such series on such record date (or their duly appointed agents) having joined therein on or prior to the 90th day after such record date, such Notice of Default shall automatically and without any action by any Person be
cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder (or a duly appointed agent thereof) from giving, before or after the expiration of such 90-day period, a Notice of Default contrary to or different from, or, after
the expiration of such period, identical to, a Notice of Default that has been cancelled pursuant to the proviso to the preceding sentence, in which event a new record date in respect thereof shall be set pursuant to this paragraph. 

SECTION 502. Acceleration of Maturity; Rescission and Annulment 

If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the
Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series and all accrued interest thereon to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if
given by Holders), and upon any such declaration the same shall become immediately due and payable. 
 At any time after such a declaration
of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal
amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if 

(1) the Company has paid or deposited with the Trustee a sum sufficient to pay 

(A) all overdue interest on all Securities of that series, 

(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such
declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, to the extent that payment of such interest is lawful, 

(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed
therefor in such Securities, and 
 (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; 

  
 27 

 and 

(2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities
of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 
 No such
rescission shall affect any subsequent default or impair any right consequent thereon. 
 Upon receipt by the Trustee of any declaration of
acceleration, or any rescission and annulment of any such declaration, pursuant to this Section 502 with respect to Securities of any series, a record date shall automatically and without any other action by any Person be set for the purpose of
determining the Holders of Outstanding Securities of such series entitled to join in such declaration, or rescission or annulment, as the case may be, which record date shall be the close of business on the day the Trustee receives such declaration,
or rescission and annulment, as the case may be. Promptly after the establishment of a record date pursuant to the provisions of this Section 502, the Trustee shall notify the Company and the Holders of Outstanding Securities of such series of
the establishment of such record date. The Holders of Outstanding Securities of such series on such record date (or their duly appointed agents), and only such Persons, shall be entitled to join in such declaration, or rescission and annulment, as
the case may be, whether or not such Holders remain Holders after such record date; provided that, unless such declaration, or rescission and annulment, as the case may be, shall have become effective by virtue of Holders of the requisite principal
amount of Outstanding Securities of such series on such record date (or their duly appointed agents) having joined therein on or prior to the 90th day after such record date, such declaration, or rescission and annulment, as the case may be, shall
automatically and without any action by any Person be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder (or a duly appointed agent thereof) from giving, before or after the expiration of such 90-day period, a
declaration of acceleration, or a rescission and annulment of any such declaration, contrary to or different from, or, after the expiration of such period, identical to, a declaration, or rescission and annulment, as the case may be, that has been
cancelled pursuant to the proviso to the preceding sentence, in which event a new record date in respect thereof shall be set pursuant to this paragraph. 

SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if 

(1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a
period of 30 days, or 
 (2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity
thereof, or 
 (3) default is made in the payment of any sinking or purchase fund or analogous obligation when the same becomes due by the
terms of the Securities of any series, and any such default continues for any period of grace provided with respect to the Securities of such series, 

  
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 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holder of any such Security (or
the Holders of any such series in the case of Clause (3) above), the whole amount then due and payable on any such Security (or on the Securities of any such series in the case of Clause (3) above) for principal (and premium, if any) and
interest, with interest, to the extent that payment of such interest shall be legally enforceable, upon the overdue principal (and premium, if any) and upon overdue installments of interest, at such rate or rates as may be prescribed therefor by the
terms of any such Security (or of Securities of any such series in the case of Clause (3) above); and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due the Trustee under Section 607. 

If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceedings to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities of such series
and collect the money adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. 

If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect
and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any
covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 504.
Trustee May File Proofs of Claim. 
 In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities),
its property or its creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee
allowed in any such proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that
the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

  
 29 

 SECTION 505. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of
any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursement and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

 SECTION 506. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 607; 

SECOND: To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities in
respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and any premium and interest, respectively;
and 
 THIRD: The balance, if any, to the Company or any other Person or Persons entitled thereto. 

SECTION 507. Limitation on Suits. 
 No Holder of
any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 

(1) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the
Securities of that series; 
 (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that
series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be
incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice, request and offer
of indemnity has failed to institute any such proceeding; and 

  
 30 

 (5) no direction inconsistent with such written request has been given to the
Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 
 it being understood and
intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to
seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (except as specified as contemplated by Section 301(3) and subject to Section 307) any interest on such Security on the respective Stated Maturities expressed in such Security (or, in
the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

SECTION 509. Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

SECTION 510. Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 

  
 31 

 SECTION 511. Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Security to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 SECTION 512. Control by Holders. 

The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that 

(1) such direction shall not be in conflict with any rule of law or with this Indenture, 

(2) the Trustee shall not determine that the action so directed would be unjustly prejudicial to Holders of Securities of that
series, or any other series, not taking part in such direction, and 
 (3) the Trustee may take any other action deemed
proper by the Trustee which is not inconsistent with such direction. 
 Upon receipt by the Trustee of any such direction with respect to
Securities of any series, a record date shall automatically and without any other action by any Person be set for determining the Holders of Outstanding Securities of such series entitled to join in such direction, which record date shall be the
close of business on the day the Trustee receives such direction. Promptly after the establishment of a record date pursuant to the provisions of this Section 512, the Trustee shall notify the Holders of Outstanding Securities of such series of
the establishment of such record date. The Holders of Outstanding Securities of such series on such record date (or their duly appointed agents), and only such Persons, shall be entitled to join in such direction, whether or not such Holders remain
Holders after such record date; provided that, unless such direction shall have become effective by virtue of Holders of the requisite principal amount of Outstanding Securities of such series on such record date (or their duly appointed agents)
having joined therein on or prior to the 90th day after such record date, such direction shall automatically and without any action by any Person be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder (or a duly
appointed agent thereof) from giving, before or after the expiration of such 90-day period, a direction contrary to or different from, or, after the expiration of such period, identical to, a direction that has been cancelled pursuant to the proviso
to the preceding sentence, in which event a new record date in respect thereof shall be set pursuant to this paragraph. 
 SECTION 513. Waiver of Past
Defaults. 
 The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the
Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default 

(1) in the payment of the principal of or any premium or interest on any Security of such series, or 

  
 32 

 (2) in respect of a covenant or provision hereof which under Article Nine cannot
be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such waiver, such
default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent
thereon. 
 SECTION 514. Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the Trust
Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company. 

SECTION 515. Waiver of Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted. 
 ARTICLE SIX 

THE TRUSTEE 
 SECTION 601. Certain Duties and
Responsibilities. 
 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the
foregoing (but subject to Section 107), no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of
any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, 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. 

  
 33 

 SECTION 602. Notice of Defaults. 

If a default occurs hereunder with respect to Securities of any series, the Trustee shall give the Holders of Securities of such series notice
of such default as and to the extent provided by the Trust Indenture Act and in the manner provided in Section 106; provided, however, that in the case of any default of the character specified in Section 501(4) with respect to Securities
of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would
become, an Event of Default with respect to Securities of such series. 
 SECTION 603. Certain Rights of Trustee. 

Subject to the provisions of Section 601: 

(1) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper
party or parties; 
 (2) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a
Company Request or Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

(3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established
prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’ Certificate; 

(4) the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request or direction of any of the Holders of any series pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; 
 (6) the Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness 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, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the
Company, personally or by agent or attorney; 

  
 34 

 (7) the Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; and 

(8) the Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be
authorized or within the discretion, rights or powers conferred upon it by this Indenture. 
 SECTION 604. Not Responsible for Recitals or Issuance of
Securities. 
 The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken
as the statements of the Company, and the Trustee or any Authenticating Agent assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee
or any Authenticating Agent shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 
 SECTION
605. May Hold Securities. 
 The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the
Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating
Agent, Paying Agent, Security Registrar or such other agent. 
 SECTION 606. Money Held in Trust. 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 
 SECTION 607. Compensation and
Reimbursement. 
 The Company agrees 

(1) to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except to the extent any such
expense, disbursement or advance may be attributable to its negligence or bad faith; and 

  
 35 

 (3) to indemnify the Trustee for, and to hold it harmless against, any loss,
liability or expense arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to negligence or bad faith on its part. 

As security for the performance of the obligations of the Company under this Section the Trustee shall have a lien prior to the Securities
upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (and premium, if any) or interest, if any, on particular Securities. 

“Trustee,” for purposes of this Section 607, includes any predecessor Trustee, provided that the negligence or bad faith of any
Trustee shall not affect the rights under this Section 607 of any other Trustee. 
 SECTION 608. Disqualification; Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate
such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture and the Company shall take prompt action to have a successor Trustee appointed in the manner provided
herein. 
 SECTION 609. Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee hereunder with respect to the Securities of each series that shall be a Person that is eligible pursuant
to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000, be subject to supervision or examination by Federal or State authority and have its Corporate Trust Office located in the Borough of Manhattan,
The City of New York. If such Person publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such
Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this Article. 
 SECTION 610. Resignation and Removal; Appointment of Successor. 

(a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until
the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 
 (b) The
Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to
the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

  
 36 

 (c) The Trustee may be removed at any time with respect to the Securities of any series by Act of
the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 

(d) If at any time: 

(1) the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any Holder who has
been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall cease to be eligible under
Section 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or 
 (3) the
Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (i) the Company by a Board Resolution may remove the Trustee
with respect to all Securities, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (e) If
the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint
a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time
there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of
such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee,
the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and to that extent
supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by
Section 611, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a
successor Trustee with respect to the Securities of such series. 
 (f) The Company shall give notice of each resignation and each removal
of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 106. Each notice shall
include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 

  
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 SECTION 611. Acceptance of Appointment by Successor. 

(a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges,
execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not
all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment
and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm
that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall
add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental
indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon
the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor
Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates. 
 (c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more
fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

(d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and
eligible under this Article. 

  
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 SECTION 612. Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee
had itself authenticated such Securities. In the event any Securities shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities, in either its own name or that of its
predecessor Trustee, with the full force and effect which this Indenture provides for the certificate of authentication of the Trustee. 
 SECTION 613.
Preferential Collection of Claims Against Company. 
 If and when the Trustee shall be or become a creditor of the Company (or any other
obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 

SECTION 614. Appointment of Authenticating Agent. 

The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on
behalf of the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 306, and Securities so authenticated shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate
of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to
act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually,
pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with
the effect specified in this Section. 
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may
be consolidated, or any corporation resulting from any merger, conversion 

  
 39 

 
or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue
to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall mail written notice of such appointment by first-class
mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance of its
appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section. 
 The Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation
for its services under this Section, and the Trustee shall be entitled to be reimbursed for such payments, subject to the provisions of Section 607. 

If an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed
thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 

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

MORGAN GUARANTY TRUST COMPANY 

OF NEW YORK, As Trustee 
  

			
	
		
	By		 
			As Authenticating Agent

  

			
	
		
	By		 
			Authorized Officer

  
 40 

 ARTICLE SEVEN 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

SECTION 701. Company to Furnish Trustee Names and Addresses of Holders. 

The Company will furnish or cause to be furnished to the Trustee 

(1) semi-annually, not later than 15 days after the Regular Record Date for each series of Securities, a list, in such form as
the Trustee may reasonably require, of the names and addresses of the Holders of Securities as of such Regular Record Date, or if there is no Regular Record Date for interest for such series of Securities, semi-annually, upon such dates as are set
forth in the Board Resolution or indenture supplemental hereto authorizing such series, and 
 (2) at such other times as the
Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 

provided, however, that, so long as the Trustee is the Security Registrar, no such list shall be required to be furnished. 

SECTION 702. Preservation of Information; Communications to Holders. 

(a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of Securities
(i) contained in the most recent list furnished to the Trustee for each series as provided in Section 701 and (ii) received by the Trustee for each series in the capacity of Security Registrar if the Trustee is then acting in such
capacity. The Trustee may destroy any list furnished to it as provided in Section 701 upon receipt of a new list so furnished. 
 (b)
The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

(c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

SECTION 703. Reports by Trustee. 
 (a) The
Trustee shall transmit to Holders of Securities, as their names and addresses appear in the Security Register, such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the
times and in the manner provided pursuant thereto. 

  
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 (b) A copy of each such report shall, at the time of such transmission to such Holders, be filed
by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange. 

SECTION 704. Reports by Company. 
 The Company
shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trustee Indenture Act at the times and in the manner provided
pursuant to such Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 shall be filed with the Trustee within 15 days after
the same is so required to be filed with the Commission. 
 ARTICLE EIGHT 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

SECTION 801. Company May Consolidate, Etc., Only on Certain Terms. 

The Company shall not consolidate with or merge into any other Person or convey, transfer or lease its properties and assets substantially as
an entirety to any Person, and the Company shall not permit any Person to consolidate with or merge into the Company or convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless: 

(1) in case the Company shall consolidate with or merge into another Person or convey, transfer or lease its properties and
assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company
substantially as an entirety shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance or observance of every
covenant of this Indenture on the part of the Company to be performed or observed; 
 (2) immediately after giving effect to
such transaction and treating any indebtedness which becomes an obligation of the Company or a Subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such transaction, no Event of Default,
and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; 

(3) if, as a result of any such consolidation or merger or such conveyance, transfer or lease, properties or assets of the
Company would become subject to a mortgage, pledge, lien, security interest or other encumbrance which would not be permitted by this Indenture, the Company or such successor Person, as the case may be, shall take such steps as shall be necessary
effectively to secure the Securities equally and ratably with (or prior to) all indebtedness secured thereby; and 

  
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 (4) the Company has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all
conditions precedent herein provided for relating to such transaction have been complied with. 
 SECTION 802. Successor Substituted. 

Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of the
properties and assets of the Company substantially as an entirety in accordance with Section 801, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE NINE 

SUPPLEMENTAL INDENTURES 
 SECTION 901.
Supplemental Indentures Without Consent of Holders. 
 Without the consent of any Holders, the Company, when authorized by a Board
Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

(1) to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of
the Company herein and in the Securities; or 
 (2) to add to the covenants of the Company for the benefit of the Holders of
all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or
power herein conferred upon the Company; or 
 (3) to add any additional Events of Default; or 

(4) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate
the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or 

  
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 (5) to add to, change or eliminate any of the provisions of this Indenture in
respect of one or more series of Securities, provided that any such addition, change or elimination (i) shall neither (A) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the
benefit of such provision nor (B) modify the rights of the Holder of any such Security with respect to such provision or (ii) shall become effective only when there is no such Security Outstanding; or 

(6) to secure the Securities pursuant to the requirements of Section 1008 or otherwise; or 

(7) to establish the form or terms of Securities of any series as permitted by Sections 201 and 301; or 

(8) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities
of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section 611(b); or 
 (9) to cure any ambiguity, to correct or supplement any provision herein which may be inconsistent
with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this Clause (9) shall not adversely affect the interests of the Holders of
Securities of any series in any material respect. 
 SECTION 902. Supplemental Indentures with Consent of Holders. 

With the consent of the Holders of not less than 66 2/3% in principal amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 
 (1) change the Stated
Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the
principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or change any Place of Payment where, or the coin or currency in which, any Security
or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 

(2) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is
required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture,
or 

  
 44 

 (3) modify any of the provisions of this Section, Section 513 or
Section 1010, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby, provided, however,
that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 1010, or the deletion of this proviso, in
accordance with the requirements of Sections 611(b) and of Section 901(8). 
 A supplemental indenture which changes or eliminates any
covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such
covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 

It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but
it shall be sufficient if such Act shall approve the substance thereof. 
 SECTION 903. Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized
or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

SECTION 904. Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

SECTION 905. Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

  
 45 

 SECTION 906. Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of
the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

ARTICLE TEN 
 COVENANTS 

SECTION 1001. Payment of Principal, Premium and Interest. 

The Company covenants and agrees for the benefit of each series of securities that it will duly and punctually pay the principal of and any
premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. 
 SECTION 1002. Maintenance of
Office or Agency. 
 The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of
that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and
this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to
receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more other
offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any
manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission
and of any change in the location of any such other office or agency. 
 SECTION 1003. Money for Securities Payments to Be Held in Trust. 

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of
the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due until
such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

  
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 Whenever the Company shall have one or more Paying Agents for any series of Securities, it will,
prior to each due date of the principal of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such
Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
 The Company will cause each
Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will
(i) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (ii) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any
payment in respect of the Securities of that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any
premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request (including interest income accrued on such
funds to which the Company is otherwise entitled), or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment
thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan,
The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the
Company. 
 SECTION 1004. Statement by Officers as to Default. 

The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an
Officers’ Certificate, stating whether or not to the best knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any
period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

  
 47 

 SECTION 1005. Existence. 

Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence, rights
(charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct
of the business of the Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 
 SECTION 1006. Maintenance of
Properties. 
 The Company will cause all properties used or useful in the conduct of its business or the business of any Subsidiary to be
maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the
Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Company from discontinuing the operation or
maintenance of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or the business of any Subsidiary and not disadvantageous in any material respect to the Holders. 

SECTION 1007. Payment of Taxes and Other Claims. 

The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments
and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law
become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability
or validity is being contested in good faith by appropriate proceedings. 
 SECTION 1008. Limitations on Liens. 

If the terms of a particular series of Securities so provide as contemplated by Section 301(12), so long as any Securities of such series
remain outstanding, the Company will not itself, and will not permit any Subsidiary to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become liable for or suffer to exist any Debt secured by a Lien on (i) any
Principal Property of the Company or of any Subsidiary or (ii) any shares of capital stock or Debt of any Subsidiary (which Debt is then held by the Company or any Subsidiary), without making effective provision whereby the Securities of such
series Outstanding hereunder shall be secured equally and ratably with such secured Debt for so long as such secured Debt shall be so secured, unless immediately thereafter, after giving effect thereto, the aggregate amount of all such secured Debt
plus all Attributable Debt of the Company and its Subsidiaries in respect of Sale and Leaseback Transactions (as defined in Section 1009, but excluding leases exempt from the prohibition of Section 1009 by Clauses (2) through
(6) thereof) would not 

  
 48 

 
exceed 10% of Consolidated Net Tangible Assets; provided, however, that this Section shall not apply to, and there shall be excluded from secured Debt in any computation under this Section, Debt
secured by: 
 (1) Liens on, and limited to, property of or shares of capital stock or Debt of any corporation existing at
the date hereof or at the time such corporation becomes a Subsidiary (unless such Liens were created in contemplation of such corporation becoming a Subsidiary); 

(2) Liens in favor of the Company or any Wholly-owned Subsidiary; 

(3) Liens in favor of any governmental body to secure progress, advance or other payments pursuant to any contract or provision
of any statute; 
 (4) (i) if made in the ordinary course of business, any Lien as security for the performance of any
contract or undertaking not directly or indirectly in connection with the borrowing of money, deferred purchase price of property or services, an advance of moneys or the securing of Debt, (ii) any Lien with any governmental agency required or
permitted to qualify the Company or any Subsidiary to conduct business, to maintain self-insurance or to obtain the benefits of any law pertaining to workmen’s compensation, employment insurance, old age pensions, social security or similar
matters, (iii) any mechanics Liens, landlord Liens or statutory Liens securing obligations incurred in the ordinary course of business not overdue or being contested in good faith by appropriate proceedings and not incurred directly or
indirectly in connection with the borrowing of money, deferred purchase price of property or services or an advance of moneys, or (iv) easements, exceptions, reservations or other similar encumbrances on real property that do not materially
interfere with the operation of such property or impair the value of such property for the purposes for which such property is or may reasonably be expected to be used by the Company or its Subsidiaries; 

(5) Liens for taxes, assessments or governmental charges or levies if such taxes, assessments, governmental charges or levies
shall not at the time be due and payable, or if the same thereafter can be paid without penalty, or if the same are being contested in good faith by appropriate proceedings; 

(6) Liens created by or resulting from any litigation or legal proceeding which at the time is currently being contested in
good faith by appropriate proceedings; Liens arising out of judgments or awards as to which the time for prosecuting an appeal or proceeding for review has not expired, or Liens arising out of individual final judgments or awards in amounts of less
than $100,000, provided that the aggregate amount of all such individual final judgments or awards in amounts of less than $100,000 at any one time shall not exceed $1,000,000; 

(7) Liens on, and limited to, property (including leasehold estates) or shares of capital stock or Debt, existing at the time
of acquisition thereof (including acquisition through merger or consolidation) or to secure the payment of all or any part of the purchase price thereof or the cost of construction thereon or to secure any Debt incurred prior to, at the time of, or
within 360 days after the latest of the acquisition, the completion of construction or the commencement of full operation of such property for the purpose of financing all or any part of the purchase price thereof or such construction thereon; 

 

  
 49 

 (8) Liens securing obligations issued by a state, territory or possession of the
United States, or any political subdivision of any of the foregoing or the District of Columbia, to finance the acquisition or construction or development of property, and on which the interest is not, in the opinion of tax counsel of recognized
standing or in accordance with a ruling issued by the Internal Revenue Service, includible (in whole or in part) in gross income of the holder by reason of Section 103(a) (1) of the Internal Revenue Code of 1986, as amended (or any successor to such
provision) as in effect at the time of the issuance of such obligations; 
 (9) Liens created in connection with a project
financed with, and created to secure, a Nonrecourse Obligation; or 
 (10) any extension, renewal or replacement (or
successive extensions, renewals or replacements), as a whole or in part, of any Lien referred to in the foregoing Clauses (1) through (9), to the extent the Debt secured by such Lien is not increased from the amount originally so secured,
provided that such extension, renewal or replacement Lien shall be limited to all or a part of the same property or shares of capital stock or Debt that secured the Lien extended, renewed or replaced (plus improvements on such property). 

SECTION 1009. Limitations on Sale and Leaseback Transactions. 

If the terms of a particular series of Securities so provide as contemplated by Section 301(12), so long as any Securities of such series
remain Outstanding, except as hereinafter provided, the Company will not, and will not permit any Subsidiary to, enter into any transaction with any bank, insurance company or other lender or investor, or to which any such bank, company, lender or
investor is a party, providing for the leasing by the Company or a Subsidiary of any Principal Property which has been or is to be sold or transferred more than 180 days after the latest of the acquisition, completion of construction or commencement
of full operation by the Company or a Subsidiary to such bank, company, lender or investor, or to any Person to whom funds have been or are to be advanced by such bank, company, lender or investor on the security of such Principal Property (herein
referred to as a “Sale and Leaseback Transaction”); provided, however, that this covenant shall not apply to any Sale and Leaseback Transaction if: 

(1) the Company or such Subsidiary could create Debt secured by a Lien pursuant to Section 1008, excluding from secured Debt in
any computation under that Section Debt secured by Liens of the type described in Clauses (1) through (10.) thereof, on the Principal Property to be leased in an amount equal to the Attributable Debt with respect to such Sale and Leaseback
Transaction without equally and ratably securing the Securities, or 
 (2) the Company or a Subsidiary, within 180 days after
the sale or transfer shall have been made by the Company or by a Subsidiary, applies an amount equal to the greater of the net proceeds from the sale of the Principal Property leased pursuant to such arrangement or the fair market value of the
Principal Property so leased at the time of entering into such arrangement (as determined in any manner approved by the Board of Directors) to either (x) the retirement of Funded Debt of the Company (other than Funded Debt subordinated to the
Securities) or a Subsidiary; provided, however, that notwithstanding the foregoing, no retirement referred to in this Clause (2) may be effected by payment of maturity or pursuant to any mandatory sinking fund payment or

  
 50 

 
any mandatory prepayment provision, or (y) purchase of other property which will constitute Principal Property of the Company or its Subsidiaries having a fair market value, in the opinion
of the Board of Directors of the Company, at least equal to the fair market value of the Principal Property leased in such sale and leaseback transaction, or 

(3) the lease in such Sale and Leaseback Transaction is for a period, including renewals, of no more than three years, or 

(4) the lease in such sale and leaseback transaction secures or relates to obligations issued by a state, territory or
possession of the United States, or any political subdivision of any of the foregoing, or the District of Columbia, to finance the acquisition or construction of property, and on which the interest is not, in the opinion of tax counsel of recognized
standing or in accordance with a ruling issued by the Internal Revenue Service, includible (in whole or in part) in gross income of the holder by reason of Section 103 (a) (1) of the Internal Revenue Code of 1986, as amended (or any successor
to such provision) as in effect at the time of the issuance of such obligations, or 
 (5) the lease payment obligation is
created in connection with a project financed with, and such obligation constitutes, a Nonrecourse Obligation, or 
 (6) such
arrangement is between the Company and a Wholly-owned Subsidiary or between Wholly-owned Subsidiaries. 
 SECTION 1010. Waiver of Certain Covenants. 

The Company may omit in any particular instance to comply with any term, provision or condition set forth in Sections 1008 and 1009, with
respect to the Securities of any series if before the time for such compliance the Holders of at least 66 2/3% in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such
instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

ARTICLE ELEVEN 
 REDEMPTION OF
SECURITIES 
 SECTION 1101. Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. 

  
 51 

 SECTION 1102. Election to Redeem; Notice to Trustee. 

The election of the Company to redeem any Securities shall be evidenced by a Board Resolution. In case of any redemption at the election of the
Company of less than all the Securities of any series with the same tenor, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of
such Redemption Date, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on
such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction. 

SECTION 1103. Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series (unless all of the Securities of such series and of a specified tenor are to be redeemed) are to
be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from the Outstanding Securities of such series not previously called for redemption, by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of
Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series. If less than all of the Securities of such series and of a specified tenor are to be redeemed, the particular Securities to be
redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. Unless
otherwise provided in the terms of a particular series of Securities, the portions of the principal of Securities so selected for partial redemption shall be equal to the minimum authorized denomination of the Securities of such series, or an
integral multiple thereof, and the principal amount which remains outstanding shall not be less than the minimum authorized denomination for Securities of such series. 

The Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Securities selected
for partial redemption, the principal amount thereof to be redeemed. 
 For all purposes of this Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed.

  
 52 

 SECTION 1104. Notice of Redemption. 

Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption
Date, unless a shorter period is specified in the Securities to-be redeemed, to each Holder of Securities to be redeemed at his address appearing in the Security Register. 

Any notice that is mailed to the Holder of any Securities in the manner herein provided shall be conclusively presumed to have been duly
given, whether or not such Holder receives the notice. 
 All notices of redemption shall state: 

(1) the Redemption Date, 

(2) the Redemption Price and the amount of accrued interest, if any, to be paid, 

(3) if less than all the Outstanding Securities of any series are to be redeemed, the identification (and, in the case of
partial redemption, the principal amounts) of the particular Securities to be redeemed, 
 (4) in case any Security is to be
redeemed in part only, the notice which relates to such Security shall state that on and after the Redemption Date, upon surrender of such Security, the Holder of such Security will receive, without charge, a new Security or Securities of authorized
denominations for the principal amount thereof remaining unredeemed, 
 (5) that on the Redemption Date the Redemption Price,
and accrued interest, if any, will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 

(6) the place or places where such Securities are to be surrendered for payment of the Redemption Price and the amount of
accrued interest, if any, to be paid, and 
 (7) that the redemption is for a sinking fund, if such is the case. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company and shall be irrevocable. 
 SECTION 1105. Deposit of Redemption Price. 

On or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and accrued interest on, all the Securities or portions thereof that are to be redeemed on that date. 

  
 53 

 SECTION 1106. Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at
the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security for
redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that unless otherwise specified as contemplated by
Section 301, installments of interest on Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of
business on the Regular Record Dates according to their terms and the provisions of Section 307. 
 If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

SECTION 1107. Securities Redeemed in Part. 
 Any
Security that is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the
Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or
Securities of the same series, with the same tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

ARTICLE TWELVE 
 SINKING FUNDS

 SECTION 1201. Applicability of Article. 

The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 301 for Securities of such series. 
 The minimum amount of any sinking fund payment provided for
by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of such series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the
redemption of Securities of any series as provided for by the terms of Securities of such series. 

  
 54 

 SECTION 1202. Satisfaction of Sinking Fund Payments with Securities. 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series to be made
pursuant to the terms of such Securities as provided for by the terms of such series (1) deliver outstanding Securities of such series (other than any of such Securities previously called for redemption or any of such Securities in respect of
which cash shall have been released to the Company) and (2) apply as a credit Securities of such series that have been redeemed either at the election of the Company pursuant to the terms of such series of Securities or through the application
of permitted optional sinking fund payments pursuant to the terms of such Securities; provided that such series of Securities has not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the
Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

SECTION 1203. Redemption of Securities for Sinking Fund. 

Not less than 60 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, that is to be satisfied by payment of cash and the portion thereof, if any,
which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date,
the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the
manner provided in Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 

ARTICLE THIRTEEN 
 DEFEASANCE AND
COVENANT DEFEASANCE 
 SECTION 1301. Company’s Option to Effect Defeasance or Covenant Defeasance. 

The Company may elect, at its option by Board Resolution at any time, to have either Section 1302 or Section 1303 applied to the
Outstanding Securities of any series designated pursuant to Section 301 as being defeasible pursuant to this Article Thirteen (hereinafter called a “Defeasible Series”), upon compliance with the conditions set forth below in this
Article Thirteen. 

  
 55 

 SECTION 1302. Defeasance and Discharge. 

Upon the Company’s exercise of the option provided in Section 1301 to have this Section 1302 applied to the Outstanding
Securities of any Defeasible Series, the Company shall be deemed to have been discharged from its obligations with respect to the Outstanding Securities of such series as provided in this Section on and after the date the conditions set forth in
Section 1304 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of
such series and to have satisfied all of its other obligations under the Securities of such series and this Indenture insofar as the Securities of such series are concerned (and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of Securities of such series to receive, solely from the trust fund described in
Section 1304 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities of such series when payments are due (2) the Company’s obligations with respect to the
Securities of such series under Sections 304, 305, 306, 1002 and 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article Thirteen. Subject to compliance with this Article Thirteen, the
Company may exercise its option provided in Section 1301 to have this Section 1302 applied to the Outstanding Securities of any Defeasible Series notwithstanding the prior exercise of its option provided in Section 1301 to have
Section 1303 applied to the Outstanding Securities of such series. 
 SECTION 1303. Covenant Defeasance. 

Upon the Company’s exercise of the option provided in Section 1301 to have this Section 1303 applied to the Outstanding
Securities of any Defeasible Series, (i) the Company shall be released from its obligations under Sections 1005 through 1009, inclusive, and (2) the occurrence of any event specified in Sections 501(4) (with respect to any of Sections 1005
through 1009, inclusive), 501(5) and 501(8) shall be deemed not to be or result in an Event of Default, in each case with respect to the Outstanding Securities of such series as provided in this Section on and after the date the conditions set forth
in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that the Company may omit to comply with and shall have no liability in respect of any term, condition or
limitation set forth in any such specified Section (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such
Section to any other provision herein or in any other document, but the remainder of this Indenture and the Securities of such series shall be unaffected thereby. 

SECTION 1304. Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to application of either Section 1302 or Section 1303 to the Outstanding Securities of any
Defeasible Series: 
 (1) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another
trustee that satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article Thirteen applicable to it) as trust funds in trust for the purpose of making the following payments, specifically
pledged as security for, and dedicated solely to, the benefit of the Holders of Outstanding Securities of such series, (A) money in an amount, or (B) U.S. Government Obligations that through the scheduled payment of principal and interest
in respect thereof in accordance with their terms will provide, not later than one day 

  
 56 

 before the due date of any payment, money in an amount, or (C) a combination thereof, in
each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any
such other qualifying trustee) to pay and discharge each installment of principal (including mandatory sinking fund payments) of, and premium (not relating to optional redemption), if any, and interest on, the Outstanding Securities of such series
on the dates such installments of principal of, and premium (not relating to optional redemption), if any, or interest are due. 

(2) In the case of an election under Section 1302, the Company shall have delivered to the Trustee an Opinion of Counsel
stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date first set forth hereinabove, there has been a change in the applicable Federal income tax law, in
either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of the Outstanding Securities of such series will not recognize gain or loss for Federal income tax purposes as a result of the
deposit, Defeasance and discharge to be effected with respect to the Securities of such series and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance
and discharge were not to occur. 
 (3) In the case of an election under Section 1303, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding Securities of such series will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with
respect to the Securities of such series and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4) The Company shall have delivered to the Trustee an Officer’s Certificate to the effect that the Securities of such
series, if then listed on any securities exchange, will not be delisted as a result of such deposit. 
 (5) No Event of
Default or event that (after notice or lapse of time or both) would become an Event of Default shall have occurred and be continuing at the time of such deposit or, with regard to any Event of Default or any such event specified in Sections 501 (6)
and (7), at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 

(6) Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of the
Trust Indenture Act (assuming all Securities are in default within the meaning of the such Act). 
 (7) Such Defeasance or
Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Company is a party or by which it is bound. 

  
 57 

 (8) The Company shall have delivered to the Trustee an Officer’s Certificate
and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

(9) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment
company within the meaning of the Investment Company Act of 1940, as amended, unless such trust shall be qualified under such Act or exempt from regulation thereunder. 

(10) Such deposit pursuant to such Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute
a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 SECTION 1305. Deposited
Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions. 
 Subject to the provisions of the last paragraph
of Section 1003, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are
referred to collectively as the “Trustee”) pursuant to Section 1304 in respect of the Securities of any Defeasible Series shall be held in trust and applied by the Trustee, in accordance with the provisions of the Securities of such series
and this Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of Securities of such series, of all sums due and to become due
thereon in respect of principal and any premium and interest, but money so held in trust need not be segregated from other funds except to the extent required by law. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government
Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge that by law is for the account of the Holders of Outstanding Securities. 

Anything in this Article Thirteen to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon
Company Request any money or U.S. Government Obligations held by it as provided in Section 1304 with respect to Securities of any Defeasible Series that, in the opinion of a nationally recognized firm of independent public accountants expressed
in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Defeasance or Covenant Defeasance with respect to the Securities of such series.

 SECTION 1306. Reinstatement. 
 If the
Trustee or the Paying Agent is unable to apply any money in accordance with this Article Thirteen with respect to the Securities of any series by reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to this Article Thirteen with respect to
Securities of such series until such time as the Trustee or Paying Agent 

  
 58 

 
is permitted to apply all money held in trust pursuant to Section 1305 with respect to Securities of such series in accordance with this Article Thirteen; provided, however, that if the Company
makes any payment of principal of or any premium or interest on any Security of such series following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of Securities of such series to receive such
payment from the money so held in trust. 
 This instrument may be executed in any number of counterparts, each of which so executed shall
be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 IN WITNESS WHEREOF, the
parties hereto have caused this Indenture to be duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written. 

 

			
	ALBERTSON’S, INC.
		
	By:		/S/ A. CRAIG OLSON
			Senior Vice President, Finance and Chief Financial Officer

  

			
	Attest:
		
			/S/ KAYE L. O’RIORDAN
			 Kaye L. O’Riordan
 Corporate
Secretary

  

			
	MORGAN GUARANTY TRUST COMPANY OF NEW YORK
		
	By:		/S/ M. CULHANE
			Vice President

  

			
	Attest:
		
			/S/ M. ELIZABETH PANUCCI
			Assistant Secretary

  
 59 

 STATE OF IDAHO                )

 COUNTY OF ADA                )
        SS: 
 On the 11th day of May, 1992, before me personally came A. Craig
Olson, to me known, who, being by me duly sworn, did depose and say that he is the Senior Vice President, Finance and Chief Financial Officer of ALBERTSON’S, INC., one of the corporations described in and which executed the foregoing
instrument; that he knows the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that he signed his name thereto by like
authority. 
  

			
			/S/ LISA MOTT
			Notary Public

 [NOTARIAL SEAL] 

STATE OF NEW YORK
                )        SS: 

COUNTY OF NEW YORK             ) 

On the day of May, 1991, before me personally came, to me known, who, being by me duly sworn, did depose and say that he/she is a Vice
President of MORGAN GUARANTY TRUST COMPANY OF NEW YORK, one of the corporations described in and which executed the foregoing instrument; that he/she knows the seal of said corporation; that the seal affixed to said instrument is such corporate
seal; that it was so affixed by authority of the Board of Directors of said corporation, and that he/she signed his/her name thereto by like authority. 
  

	
	
	/s/ PETER V. MURPHY
	Notary Public

 [NOTARIAL SEAL] 

 EX-4.2 

FORM OF FIXED RATE NOTE 
 EXHIBIT
4.2 
 [FORM OF FACE OF SECURITY] 

If this Security is an Original Issue Discount Security the following legend is applicable: 

FOR PURPOSES OF SECTIONS 1273 AND 1275 OF THE UNITED STATES INTERNAL REVENUE CODE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THIS SECURITY IS
        % OF ITS PRINCIPAL AMOUNT, THE ISSUE DATE IS                 , 19      AND THE
YIELD TO MATURITY IS         % [THE METHOD USED TO DETERMINE THE YIELD IS              AND THE AMOUNT OF ORIGINAL ISSUE DISCOUNT
APPLICABLE TO THE SHORT ACCRUAL PERIOD OF              19      TO
                    , 19          IS         %
OF THE PRINCIPAL AMOUNT OF THIS SECURITY] 
 If the registered owner of this Security is The Depositary Trust Company (the
“Depositary”) or a nominee of the Depositary, this Security is a Security in global form (a “Global Security”) and the following legends are applicable: 

THIS SECURITY IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO. UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, AND UNLESS ANY PAYMENT MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISED BY ANY PERSON IS WRONGFUL,
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 R-      

CUSIP 
 ALBERTSON’S, INC. 

Note due 
 ALBERTSON’S,
INC., a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the “Company”, which term includes any successors under the Indenture, as hereinafter defined), for value received, hereby promises
to pay to                     , or registered assigns, the principal sum of
                                        
($                    ) on             ,
        , and to pay interest thereon subject to the terms of the Indenture, from             , 199    , or
from the most recent Interest Payment Date (as hereinafter defined) to which interest has been paid or duly provided for, whichever is later, until payment of the principal hereof has been made or duly provided for. Subject to the terms of the
Indenture, interest shall be payable [semiannually] on              and                 
of each year (each an “Interest Payment Date”) commencing on                 ,          and ending when
payment of the principal hereof has been made or duly provided for, at a rate of
                                         
            (        %) per annum computed on the basis of a 360-day year of twelve 30-day months. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the              [or                 ] (as the case
may be), whether or not a Business Day, immediately preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be
paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders not less than ten days prior to such Special Record Date, or be paid as otherwise provided in the Indenture. Payment of the principal of [(and premium, if any,] and interest on this Security will be made at [the office or
agency of the Company maintained for that purpose in             , in 

 
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts] [the option of the Holder at [the Corporate Trust Office
of the Trustee] or such other office or agency of the Company as may be designated by it for such purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment shall be
legal tender for the payment of public or private debts [; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the
Security Register]. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 
 This Security shall not be valid or become
obligatory for any purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture. 

WITNESS THE SEAL OF THE COMPANY AND THE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS. 

 

					
			ALBERTSON’S, INC.
			
	Dated:		By:		  

					     Senior Vice President, Finance

    and Chief Financial Officer

			
	[SEAL]		By:		  

					Corporate Secretary

 TRUSTEE’S CERTIFICATION OF AUTHENTICATION 

transfer in immediately available funds to such account as may have been appropriately designated to the Paying Agent by such Person in writing not later than
such relevant Regular or Special Record Date.] Each payment of principal, premium, if any, and interest, if any, will be made in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of
public and private debts.] 
 [The Securities of this series are subject to redemption [on
                 in any year commencing with the year              and ending with the year
         through the operation of the sinking fund for this series at a Redemption Price equal to [insert formula for determining the amount] [and] [at any time [on or after
            , 19    ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal
amount) : If redeemed [on or before                 ,     %, and if redeemed] during the 12-month period beginning
         of the years indicated: 

							
	 YEAR
	 	 REDEMPTION

PRICE
	 	 YEAR
	 	 REDEMPTION

PRICE

 and thereafter at a
Redemption Price equal to     % of the principal amount,] [and (        )] under the circumstances described in the next [two] succeeding paragraph[s] at a Redemption Price
equal to [insert formula for determining the amount] [, together in the case of any such redemption [(whether through the operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date: provided, however, that installments
of interest on this Security whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred
to on the face hereof, all as provided in the Indenture]. 
 [The Securities of this series are subject to redemption (i) on
                     in any year commencing with the year
                 and ending with the year              through the operation of the sinking
fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [on or after
                , 19    ], as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise
than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning
             of the years indicated: 
  

							
	 YEAR
	 	 REDEMPTION PRICE

FOR REDEMPTION
 THROUGH OPERATION

OF THE
 SINKING FUND
	 	 YEAR
	 	 REDEMPTION PRICE

FOR REDEMPTION
 OTHERWISE THAN

THROUGH OPERATION
 OF SINKING
FUND

		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	

 and thereafter at a Redemption Price equal to     % of the principal amount [and (3) under the
circumstances described in the next [two] paragraph[s] at a Redemption Price equal to [insert formula for determining the amount] [, together in the case of any such redemption [(whether through the operation of the sinking fund or otherwise)] with
accrued interest to the Redemption Date: provided, however, that installments of interest on this Security whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor
Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture]. [Notwithstanding the foregoing, the Company may not, prior to
        , redeem any Securities of this series as contemplated by Clause [(2)] above as a part of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys
borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than     % per annum.] 

[The sinking fund for this series provides for the redemption on
             in each year, beginning with the year          and ending with the year
             of [not less than] $         (“mandatory sinking fund”) and not more than
[$                ] aggregate principal amount of Securities of this series. [Securities of this series acquired or redeemed by the Company otherwise than through
[mandatory] sinking fund payments may be credited against subsequent [mandatory] sinking fund payments otherwise required to be made - in the inverse order in which they become due]]. 

Notice of redemption will be given by mail to Holders of Securities, not less than 30 nor more than 60 days prior to the date fixed for
redemption, all as provided in the Indenture. 

 In the event of redemption of this Security in part only, a new Security or Securities of this
series and of like tenor for the unredeemed portion thereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

If an Event of Default with respect to this Security shall occur and be continuing, the entire principal amount hereof may be declared due and
payable in the manner, with the effect and subject to the conditions provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series issued under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of not less than 66 2/3% in aggregate principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also permits the amendment thereof without the consent of the
Holders of any of the Securities to, among other things, cure any ambiguity or omission or correct or supplement any provision therein that may be inconsistent with any other provision therein, or take certain other actions, provided that such
actions will not adversely affect the interests of the Holders of Securities of any series in any material respect. The Indenture also contains provisions permitting the Holders of not less than a majority in aggregate principal amount of Securities
of any series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive certain past defaults under the Indenture and the consequences thereof. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 Each of the defeasance and covenant defeasance provisions of Article Thirteen of the Indenture shall [not] apply
to this series of Securities. 
 Each of the covenant provisions of Sections 1008 and 1009 of the Indenture shall [not] apply to this series
of Securities. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the principal of, [premium, if any,] and interest, if any, on this Security at the time, place and rate, and in the coin or currency herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable on the
Securities Register upon surrender of this Security for registration of transfer at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Securities of authorized denominations and for
the same aggregate principal amount will be issued to the designated transferee or transferees. As provided in the Indenture and subject to certain limitations therein set forth, this Security is exchangeable for the same aggregate principal of
Securities of authorized denominations, as requested by the Holder surrendering the same. No service charge shall be made for any such registration of transfer or exchange, but the Company may require the payment of a sum sufficient to cover any tax
or other governmental charge payable in connection therewith. 
 The Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security may be overdue, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by
any notice to the contrary. 
 [In the event that (i) DTC, or any successor Depositary, notifies the Company and the Trustee in writing
that it is unwilling or unable to continue as Depositary for this Global Security or if at any time DTC, or any successor Depositary, ceases to be a clearing corporation registered under the Exchange Act, and a successor 

 Depositary is not appointed by the Company within 90 days, (ii) the Company in its sole
discretion determines that the Notes shall no longer be represented by this Global Security and executes and delivers to the Trustee a Company Order that this Global Security shall be exchangeable or (iii) there shall have occurred and be
continuing an Event of Default or an event which, with the giving of notice or the lapse of time, or both, would constitute an Event of Default with respect to the Notes represented by this Global Security, then the Company will issue Notes in
definitive form in exchange for this Global Security. In such event, an owner of a beneficial interest in this Global Security will be entitled to have Notes equal in aggregate principal amount to such beneficial interest registered in its name and
will be entitled to physical delivery of such Notes in definitive form. Notes so issued in definitive form will be issued as registered Notes without coupons in denominations of $1,000 and integral multiples thereof.] 

[Notwithstanding any provision herein to the contrary, every Note authenticated and delivered upon registration of transfer of, or in exchange
for or in lieu of, this Global Security other than pursuant to clauses (i), (ii) or (iii) of the preceding paragraph, shall be authenticated and delivered in the form of, and shall be, a Global Security.] 

As provided in the Indenture, this Security shall for all purposes be governed by and construed in accordance with the laws of the State of
New York. 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture
unless otherwise defined herein. 
 FOR VALUE RECEIVED the undersigned hereby sells, 

assigns and transfers unto 
 PLEASE INSERT SOCIAL
SECURITY OR OTHER 
   IDENTIFYING NUMBER OF ASSIGNEE 
  

					
	 				
			
	 				
			
	 				

 (Please print or typewrite name and address including postal zip code of assignee) 

					
	 				

 the within Global Note of ALBERTSON’S, INC. and all rights hereunder, hereby irrevocably constituting and appointing 

                          
                           attorney to transfer said Global Note on the books of the within-named Company, with full
power of substitution in the premises. 
 Dated:
                                         
        
  

			
	 SIGN HERE
		  

			NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT
		
			ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.
		
			SIGNATURE GUARANTEED

 EX-4.3 

FORM OF FIXED RATE MEDIUM-TERM NOTE 

EXHIBIT 4.3 
 [Form of Fixed Rate
Medium-Term Note] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

			
	 REGISTERED

REGISTERED

NO.

$
		ALBERTSON’S, INC.
	
	 Medium-Term Note

Due from 9 Months to 30 Years from Date

of Issue
 (Fixed Rate)

		
	 CUSIP
		
		
	 Original Issue Date:

Stated Maturity:
		 Interest Rate:

		
	 Interest Payment Date (s):

Regular Redemption
		 Regular Record Date (s):

		
	 / / Yes / / No
		
		
	 Initial Redemption Date:

Premium Reduction Amount:
		 Initial Redemption Price:

			 Make-Whole Premium
 Redemption / / Yes / /
No

 ALBERTSON’S, INC. (the “Company”, which term includes any successor under the Indenture
referred to hereinafter), a corporation duly organized and existing under the laws of the State of Delaware, for value received, hereby promises to pay to             
                                         
           , or registered assigns, the principal sum of
                                         
                        DOLLARS on the Stated Maturity, and to pay interest thereon, if any, at the rate per annum shown above,
computed on the basis of a 360-day year of twelve 30-day months, until the principal hereof has been paid or made available for payment. Except as provided in the Indenture, the Company will pay interest, if any, on the Interest Payment Dates
specified above, commencing with the first Interest Payment Date following the Original Issue Date and ending at Maturity; provided, however, that any payment of principal of, premium, if any, or interest, if any, on this Global Note to be made on
an Interest Payment Date or at Maturity which is not a Business Day (as hereinafter defined) will be made on the next succeeding Business Day. Interest on this Global Note, if any, will accrue from the most recent Interest Payment Date to which
interest has been paid or duly provided for, or, if no interest has been paid or duly provided for, from the Original Issue Date, to but excluding the next succeeding Interest Payment Date, until the principal hereof has been paid or made available
for payment. The interest so payable, and punctually paid or duly provided for on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Global Note (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date designated on the face hereof (whether or not a Business Day) next preceding such Interest Payment Date; provided, however, that interest payable at Maturity will be payable to the
Person to whom the principal hereof shall be payable; and provided, further, that if this Global Note is originally issued between a Regular Record Date and an Interest Payment Date, then interest will be payable to the Person in whose name this
Global Note (or one or more Predecessor 

 
Securities) is registered on the next succeeding Regular Record Date, and will be so paid on the next succeeding Interest Payment Date. Any such interest which is payable, but is not punctually
paid or duly provided for on any Interest Payment Date, shall forthwith cease to be payable to the registered Holder on such Regular Record Date, and may be paid to the Person in whose name this Global Note (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Global Note not less than ten days prior to such Special Record
Date, or may be paid at any time in any other lawful manner, all as more fully provided in the Indenture. So long as this Global Note is a Global Security held by a Depositary or a nominee of such Depositary, then the principal of, premium, if any,
and interest, if any, on this Global Note on any Interest Payment Date and at Maturity shall be payable in immediately available funds to such Depositary or a nominee of such Depositary. If at any time this Global Note is no longer a Global Security
held by a Depositary or its nominee, then the principal of, premium, if any, and interest, if any, on this Global Note at Maturity shall be paid in immediately available funds to the Holder upon surrender of this Global Note at the office or agency
maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, or at such other place or places as may be designated pursuant to the Indenture, provided that this Global Note is surrendered at the office or agency
described above in time for the Paying Agent to make such payments in such funds in accordance with its normal procedures. If at any time this Global Note is no longer a Global Security held by a Depository or its nominee, then the payment of
interest, if any, on this Global Note due on any Interest Payment Date other than at Maturity shall be made by check mailed to the address of the Person entitled thereto as it appears in the Security Register on the relevant Regular or Special
Record Date, as the case may be, or by wire transfer in immediately available funds to such account as may have been appropriately designated to the Paying Agent by such Person in writing not later than such relevant Regular or Special Record Date,
as the case may be. Each payment of principal of, premium, if any, and interest, if any, on this Global Note shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of
public and private debts. 
 This Global Note is one of the series of Debt Securities designated under the Indenture as Medium-Term Notes
(the “Notes”). 
 This Global Note is one of a duly authorized issue of unsecured and unsubordinated debentures, notes or other
evidences of senior indebtedness of the Company (herein referred to as the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of May 1, 1992 (herein referred to as the “Indenture”),
between the Company and Morgan Guaranty Trust Company of New York (herein referred to as the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is
hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. The Notes will be issuable in an aggregate principal amount of $
                                    , which amount may be
increased if duly authorized by the Company. The Notes may have different Original Issue Dates and Interest Payment Dates, mature at different times and bear interest at different rates and, as provided below, be subject to different redemption
provisions, and may differ in such other respects as is provided herein or as may be provided pursuant to the terms of the Indenture. The Notes will rank on a parity with all other senior unsecured indebtedness of the Company from time to time
outstanding. 
 Each of the defeasance and covenant defeasance provisions of Article Thirteen of the Indenture shall [not] apply to this
Global Note. 
 Each of the covenant provisions of Sections 1008 and 1009 of the Indenture shall [not] apply to this Global Note. 

This Global Note is [not] subject to payment from a sinking fund. 

If so designated on the face of this Global Note, this Global Note may be redeemed by the Company by Regular Redemption or Make-Whole Premium
Redemption on any date on and after the Initial Redemption Date indicated on the face hereof. If neither Regular Redemption nor Make-Whole Premium Redemption is designated on the face hereof, then this Global Note may not be redeemed prior to its
Stated Maturity. 

  
 - 2 - 

 Regular Redemption. If so designated on the face of this Global Note that it is subject to
Regular Redemption, then on and after the Initial Redemption Date, this Global Note may be redeemed at the option of the Company in whole or in part in increments of $1,000 (provided that any remaining principal amount of this Global Note shall be
at least $100,000) at the Redemption Price, together with accrued interest to the Redemption Date, on notice given not more than 60 nor less than 30 days prior to the Redemption Date. The Redemption Price shall be initially equal to the Initial
Redemption Price set forth on the face hereof on the Initial Redemption Date (plus accrued interest to the Initial Redemption Date), and shall decline (but not below par) on each anniversary of the Initial Redemption Date by the Premium Reduction
Amount set forth on the face hereof until the Redemption Price is equal to 100% of such principal amount, plus accrued interest to the date this Global Note is redeemed (the “Redemption Date”). If less than all of this Global Note is to be
redeemed, the beneficial interests in this Global Note to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate. In the event of redemption of this Global Note in part only, a new Global Note for
the unredeemed portion hereof shall be issued in the name of the Holder hereof upon surrender hereof. 
 Make-Whole Premium Redemption. If
so designated on the face of this Global Note, this Global Note may be redeemed at the option of the Company, as a whole or from time to time in part, Upon not less than 30 nor more than 60 days’ notice mailed to the Holder at his address as it
appears in the Security Register, on any date prior to its Stated Maturity at a Redemption Price equal to 100% of the principal amount hereof; plus accrued interest to the Redemption Date (subject to the right of the Holder of record on the relevant
Regular Record Date to receive interest due on an Interest Payment Date that is on or prior to the Redemption Date), plus a Make-Whole Premium, if any. 

The amount of the “Make-Whole Premium” in respect of the principal amount of this Global Note will be the excess, if any, of
(i) the sum of the present values, as of the Redemption Date of this Global Note, of (A) the respective interest payments (exclusive of the amount of accrued interest to the Redemption Date) on this Global Note that, but for such
redemption, would have been payable on their respective Interest Payment Dates after such Redemption Date, and (B) the payment of such principal amount that, but for such redemption, would have been payable on the Stated Maturity of this Global
Note over (ii) the amount of such principal to be redeemed. Such present values will be determined in accordance with generally accepted principles of financial analysis by discounting the amounts of such payments of interest and principal from
their respective Stated Maturities to such Redemption Date at a discount rate equal to the Treasury Yield. 
 The “Treasury Yield”
in respect of this Global Note shall be determined as of the date on which notice of redemption of this Global Note is sent to the Holder hereof by reference to the most recent Federal Reserve Statistical Release H.15 (519) (or successor
publication) which has become publicly available not more than two Business Days prior to such date (or, if such Statistical Release (or successor publication) is no longer published or no longer contains the applicable data, to the most recently
published issue of The Wall Street Journal (Eastern Edition) published not more than two Business Days prior to such date that contains such data or, if The Wall Street Journal (Eastern Edition) is no longer published or no longer contains such
data, to any publicly available source of similar market data), and shall be the most recent weekly average yield on actively traded U.S. Treasury securities adjusted to a constant maturity equal to the Remaining Life of this Global Note and, if
applicable, converted to a bond equivalent yield basis as described below. The “Remaining Life of this Global Note” shall equal the number of years from the Redemption Date to the Stated Maturity of this Global Note; provided that if the
Remaining Life of this Global Note is not equal to the constant maturity of a U.S. Treasury security for which a weekly average yield is specified in the applicable source, then the Remaining Life of this Global Note shall be rounded to the nearest
one-twelfth of one year and the Treasury Yield shall be obtained by linear interpolation (computed to the fifth decimal place (one thousandth of a percentage point) and then rounded to the fourth decimal place (one hundredth of a percentage point)),
after rounding to the nearest one-twelfth of one year, from the weekly average yields of (a) the actively traded U.S. Treasury security with a maturity closest to and less than the Remaining Life of this Global Note and (b) the actively
traded U.S. Treasury security with a maturity closest to and greater than the Remaining Life of this Global Note, except that if the Remaining Life of this Global Note is less than three months, the weekly average yield on actively traded U.S.
Treasury securities adjusted to a constant maturity of three months shall be used. The Treasury Yield shall, if expressed on a yield basis other than that equivalent to a bond equivalent yield basis, be converted to a bond equivalent yield basis and
shall be computed to the fifth decimal place (one thousandth of a percentage point) and then rounded to the fourth decimal place (one hundredth of a percentage point). 

If an Event of Default with respect to this Global Note shall occur and be continuing, the entire principal amount of this Global Note may be
declared due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

  
 - 3 - 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series issued under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than 66 2/3%
in aggregate principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also permits the amendment thereof without the consent of the Holders of any of the Securities to, among other things, cure any
ambiguity or omission or correct or supplement any provision therein that may be inconsistent with any other provision therein, or take certain other actions, provided that such actions will not adversely affect the interests of the Holders of
Securities of any series in any material respect. The Indenture also contains provisions permitting the Holders of not less than a majority in aggregate principal amount of Securities of any series at the time Outstanding, on behalf of the Holders
of all Securities of such series, to waive certain past defaults under the Indenture and the consequences thereof. Any such consent or waiver by the Holder of this Global Note shall be conclusive and binding upon such Holder and upon all future
Holders of this Global Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Global Note. 

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

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Global Note is registrable on the
Security Register upon surrender of this Global Note for registration of transfer at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Global Notes of authorized denominations and
for the same aggregate principal amount will be issued to the designated transferee or transferees. As provided in the Indenture and subject to certain limitations therein set forth, this Global Note is exchangeable for the same aggregate principal
of Global Notes of authorized denominations, as requested by the Holder surrendering the same. No service charge shall be made for any such registration of transfer or exchange, but the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Global Note is registered as the owner hereof for all purposes, whether or not this Global Note may be overdue, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall
be affected by any notice to the contrary. 
 In the event that (i) DTC, or any successor Depositary, notifies the Company and the
Trustee in writing that it is unwilling or unable to continue as Depositary for this Global Note or if at any time DTC, or any successor Depositary, ceases to be a clearing corporation registered under the Exchange Act, and a successor Depositary is
not appointed by the Company within 90 days, (ii) the Company in its sole discretion determines that the Notes shall no longer be represented by this Global Note and executes and delivers to the Trustee a Company Order that this Global Note shall be
exchangeable or (iii) there shall have occurred and be continuing an Event of Default or an event which, with the giving of notice or the lapse of time, or both, would constitute an Event of Default with respect to the Notes represented by this
Global Note, then the Company will issue Notes in definitive form in exchange for this Global Note. Notes so issued in definitive form will be issued as registered Notes without coupons in denominations of $100,000 and integral multiples of $1,000
in excess thereof. 
 AS PROVIDED IN THE INDENTURE, THIS GLOBAL NOTE SHALL FOR ALL PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK. 
 All terms used in this Global Note which are defined in the Indenture shall have the meanings assigned
to them in the Indenture unless otherwise defined herein. 
 This Global Note shall not be valid or become obligatory for any purpose until
the Certificate of Authentication hereon shall have been signed by the Trustee under the Indenture. 
 WITNESS the seal of the Company and
the signatures of its duly authorized officers. 

  
 - 4 - 

 ALBERTSON’S, INC. 
  

					
	 Dated:
		By:		  

					     Senior Vice President, Finance

    and Chief Financial Officer

			
	 [SEAL]
		By:		  

					Corporate Secretary

 Trustee’s Certification of Authentication 

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

			
	First Trust of New York, N.A., as Trustee
		
	 By:
		 
			 Authorized Officer

  
 - 5 - 

 ASSIGNMENT 

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto 

PLEASE INSERT SOCIAL SECURITY OR OTHER 

    IDENTIFYING NUMBER OF ASSIGNEE: 
  

					
	 				
			
	 	  	 	  	 

 (Please print or typewrite name and address including 

postal zip code of assignee) 
 the within Global
Note of ALBERTSON’S, INC. and all rights hereunder, hereby irrevocably constituting and
appointing                                       
   attorney to transfer said Global Note on the books of the within-named Company, with full power of substitution in the premises. 
 Dated:
                                        

  

			
	 SIGN HERE
		  

			NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.
		
			SIGNATURE GUARANTEED

 EX-4.4 

FORM OF FLOATING RATE NOTE 

EXHIBIT 4.4 
 [FORM OF FACE OF
SECURITY] 
 If this Security is an Original Issue Discount Security the following legend is applicable: 

FOR PURPOSES OF SECTIONS 1273 AND 1275 OF THE UNITED STATES INTERNAL REVENUE CODE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THIS SECURITY IS
        % OF ITS PRINCIPAL AMOUNT, THE ISSUE DATE IS                     ,
19     AND THE YIELD TO MATURITY IS         % [THE METHOD USED TO DETERMINE THE YIELD IS             AND THE
AMOUNT OF ORIGINAL ISSUE DISCOUNT APPLICABLE TO THE SHORT ACCRUAL PERIOD OF              19     TO
                    , 19         IS     % OF THE PRINCIPAL AMOUNT OF
THIS SECURITY] 
 If the registered owner of this Security is The Depositary Trust Company (the “Depositary”) or a nominee of the
Depositary, this Security is a Security in global form (a “Global Security”) and the following legends are applicable: 
 THIS
SECURITY IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, AND UNLESS ANY
PAYMENT MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY ANY PERSON IS WRONGFUL, SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

R-      
 CUSIP 

ALBERTSON’S, INC. 
 Note due

 ALBERTSON’S, INC. (the “Company”, which term includes any successor under the Indenture referred to hereinafter), a
corporation duly organized and existing under the laws of the State of Delaware, for value received, hereby promises to pay to             
                                         
               , or registered assigns, the principal sum of
                                         
        DOLLARS on the Stated Maturity, and to pay interest thereon, if any, at a rate per annum equal to the Initial Interest Rate until the first Interest Reset Date following the Original Issue Date, and
thereafter at a rate determined in accordance with [insert formulas to determine interest rate], until the principal hereof has been paid or made available for payment. Except as provided in the Indenture, the Company will pay interest, if any,
[monthly, quarterly, semiannually or annually], commencing with the first Interest Payment Date following the Original Issue Date and ending at Maturity; provided, however, that any payment of principal of, premium, if any, or interest, if any, on
this Security, to be made on an Interest Payment Date or at Maturity which is not a Business Day (as hereinafter defined) will be made on the next succeeding Business Day. Interest on this Security, if any, will accrue from the most recent Interest
Payment Date to which interest has been paid or duly provided for, or, if no interest has been paid or duly provided for, from the Original Issue Date until the principal hereof has been paid or made available for payment. The interest so payable,
and punctually paid or duly provided for on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the 15th
day (whether or not a Business Day) next preceding such Interest Payment Date (a “Regular Record Date”); provided, however, that interest payable at Maturity will be payable to the Person to whom the principal hereof shall be payable; and
provided, further, that if this Security is originally issued between a Regular Record Date and an Interest Payment Date, then interest will be payable to the Person in whose name this Security (or one or more Predecessor Securities) is registered
on the next succeeding Regular Record Date, and will be so paid on the next succeeding Interest Payment Date. Any such interest which 

 
is payable, but is not punctually paid or duly provided for on any Interest Payment Date, shall forthwith cease to be payable to the registered Holder on such Regular Record Date, and may
be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to the Holder of this Security not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner, all as more fully provided in the Indenture. [So long as this Security is a Global Security held by
a Depositary or a nominee of such Depositary, then the principal of, premium, if any, and interest, if any, on this Security on any Interest Payment Date and at Maturity shall be paid in immediately available funds to such Depositary or a nominee of
such Depositary. If at any time this Security is no longer a Global Security held by a Depositary or its nominee, then the principal of, premium, if any, and interest, if any, on this Security at Maturity shall be paid in immediately available funds
to the Holder upon surrender of this Security at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, or at such other place or places as may be designated pursuant to the Indenture,
provided that this Security is surrendered at the office or agency described above in time for the Paying Agent to make such payments in such funds in accordance with its normal procedures. If at any time this Security is no longer a Global Security
held by a Depository or its nominee, then the payment of interest, if any, on this Security due on any Interest Payment Date other than at Maturity shall be made by check mailed to the address of the Person entitled thereto as it appears on the
Security Register on the relevant Regular or Special Record Date, as the case may be, or by wire transfer in immediately available funds to such account as may have been appropriately designated to the Paying Agent by such Person in writing not
later than such relevant Regular or Special Record Date, as the case may be.] Each payment of principal of, premium, if any, and interest, if any, on this Security shall be made in such coin or currency of the United States of America as at the time
of payment shall be legal tender for the payment of public and private debts. 
 Reference is hereby made to the further provisions of this
Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

This Security shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by
the Trustee under the Indenture. 

  
 - 2 - 

 WITNESS THE SEAL OF THE COMPANY AND THE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS.
ALBERTSON’S, INC. 
  

							
					ALBERTSON’S, INC.
				
	Dated:				By:		 
							 Senior Vice President, Finance
 and Chief
Financial Officer

  

							
				
	[SEAL]				By:		 
							Corporate Secretary

 TRUSTEE’S CERTIFICATION OF AUTHENTICATION 
  

			
	 THIS IS ONE OF THE SECURITIES OF THE SERIES DESIGNATED THEREIN REFERRED TO IN THE WITHIN-MENTIONED INDENTURE.

 
 FIRST TRUST OF NEW YORK, N.A.,

    AS TRUSTEE

		
	By:		 
			Authorized Officer

  
 - 3 - 

 [FORM OF REVERSE OF SECURITY] 

This Security is one of the series of Debt Securities designated under the Indenture as Medium-Term Notes (the “Notes”). 

This Security is one of a duly authorized issue of unsecured and unsubordinated debentures, notes or other evidences of senior indebtedness of
the Company (herein referred to as the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of May 1, 1992 (herein referred to as the “Indenture”), between the Company and Morgan Guaranty
Trust Company of New York (herein referred to as the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the
respective rights, limitations of rights, obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. The
Notes will be issuable in an aggregate principal amount of $                 which amount may be increased if duly authorized by the Company. The Notes may have
different Original Issue Dates and Interest Payment Dates, mature at different times and bear interest at different rates and, as provided below, be subject to different redemption provisions, and may differ in such other respects as is provided
herein or as may be provided pursuant to the terms of the Indenture. The Notes will rank on a parity with all other senior unsecured indebtedness of the Company from time to time outstanding. 

Commencing with the first Interest Reset Date specified on the face hereof following the Original Issue Date, the rate at which interest, if
any, is payable on this Security shall be adjusted daily, [weekly, monthly, quarterly, semiannually or annually], provided, however, that the interest rate in effect for the period from the Original Issue Date to the first Interest Reset Date shall
be [    %], and the interest rate in effect for the ten days immediately preceding the Stated Maturity or Redemption Date, if any, shall be that in effect on the tenth day preceding such Stated Maturity or Redemption Date,
if any. Each such adjusted rate shall be applicable on and after the Interest Reset Date to which it relates, to but not including the next succeeding Interest Reset Date or until the Stated Maturity, as the case may be. Subject to applicable
provisions of law and except as specified herein, on each Interest Reset Date, the rate of interest, if any, on this Security shall be the rate determined in accordance with the provisions of the applicable heading below. [Insert description of
floating rate indices applicable to the Securities.] 
 [This Global Security represents all of the Company’s
    % Notes due
                ,                 (hereinafter called the
“Notes”), which are a duly authorized issue of Securities under the Indenture limited in aggregate principal amount to $                 .] So long as
this Global Security shall represent all of the Notes, the principal of, premium, if any, and interest, if any, on this Global Security shall be paid in immediately available funds to DTC, or to such name or entity as is requested by an authorized
representative of DTC. If at any time the Notes are no longer represented by this Global Security and are issued in definitive form (“Certificated Notes”), then the principal of, premium, if any, and interest, if any, on each Certificated
Note at Maturity shall be paid in immediately available funds to the Holder upon surrender of such Certificated Note at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York, or at such other place or places as
may be designated in the Indenture, provided that such Certificated Note is surrendered to the Trustee, acting as Paying Agent, in time for the Paying Agent to make such payments in such funds in accordance with its normal procedures. Payments of
interest with respect to Certificated Notes other than at Maturity shall be made by check mailed to the address of the Person entitled thereto as it appears on the Security Register on the relevant Regular or Special Record Date or by wire transfer
in immediately available funds to such account as may have been appropriately designated to the Paying Agent by such Person in writing not later than such relevant Regular or Special Record Date.] Each payment of principal, premium, if any, and
interest, if any, will be made in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts.] 

[The Securities of this series are subject to redemption [on             
in any year commencing with the year              and ending with the year              through the operation
of the sinking fund for this series at a Redemption Price equal to [insert formula for determining the amount] [and] [at any time [on or after             ,
19        ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [on or before
                ,     %, and if redeemed] during the 12-month period beginning
                 of the years indicated: 

							
	 YEAR
	 	 REDEMPTION

PRICE
	 	 YEAR
	 	 REDEMPTION

PRICE

		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	

 and thereafter at a Redemption Price equal to     % of the principal amount,] [and
(         )] under the circumstances described in the next [two] succeeding paragraph[s] at a Redemption Price equal to [insert formula for determining the amount] [, together in the case of any such
redemption [(whether through the operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date: provided, however, that installments of interest on this Security whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture]. 

[The Securities of this series are subject to redemption (i) on
                 in any year commencing with the year              and ending with the year
             through the operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the
principal amount) set forth in the table below, and (2) at any time [on or after                  19     ] , as a whole or in
part, at the election of the Company, at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month
period beginning                  of the years indicated: 
  

							
	 YEAR
	 	 REDEMPTION PRICE

FOR REDEMPTION

THROUGH OPERATION

OF THE

SINKING FUND
	 	 YEAR
	 	 REDEMPTION PRICE

FOR REDEMPTION

OTHERWISE THAN

THROUGH OPERATION

OF SINKING FUND

		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	

 and thereafter at a Redemption Price equal to     % of the principal amount [and (3) under the
circumstances described in the next [two] paragraph [s] at a Redemption Price equal to [insert formula for determining the amount] [,together in the case of any such redemption [(whether through the operation of the sinking fund or otherwise)] with
accrued interest to the Redemption Date: provided, however, that instalments of interest on this Security whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor
Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture]. [Notwithstanding the foregoing, the Company may not, prior to
                , redeem any Securities of this series as contemplated by Clause [(2)] above as a part of, or in anticipation of, any refunding operation by the
application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than         % per annum.]

 [The sinking fund for this series provides for the redemption on
                 in each year, beginning with the year                  and
ending with the year              of [not less than] $         (“mandatory sinking fund”) and not more than
[$        ] aggregate principal amount of Securities of this series. [Securities of this series acquired or redeemed by the Company otherwise than through [mandatory] sinking fund payments may be
credited against subsequent [mandatory] sinking fund payments otherwise required to be made-in the inverse order in which they become due]]. 

 Notice of redemption will be given by mail to Holders of Securities, not less than 30 nor more
than 60 days prior to the date fixed for redemption, all as provided in the Indenture. 
 In the event of redemption of this Security in
part only, a new Security or Securities of this series and of like tenor for the unredeemed portion thereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

If an Event of Default with respect to this Security shall occur and be continuing, the entire principal amount hereof may be declared due and
payable in the manner, with the effect and subject to the conditions provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series issued under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of not less than 66 2/3% in aggregate principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also permits the amendment thereof without the consent of the
Holders of any of the Securities to, among other things, cure any ambiguity or omission or correct or supplement any provision therein that may be inconsistent with any other provision therein, or take certain other actions, provided that such
actions will not adversely affect the interests of the Holders of Securities of any series in any material respect. The Indenture also contains provisions permitting the Holders of not less than a majority in aggregate principal amount of Securities
of any series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive certain past defaults under the Indenture and the consequences thereof. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 Each of the defeasance and covenant defeasance provisions of Article Thirteen of the Indenture shall [not] apply
to this series of Securities. 
 Each of the covenant provisions of Sections 1008 and 1009 of the Indenture shall [not] apply to this series
of Securities. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the principal of, [premium, if any,] and interest, if any, on this Security at the time, place and rate, and in the coin or currency herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable on the
Securities Register upon surrender of this Security for registration of transfer at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Securities of authorized denominations and for
the same aggregate principal amount will be issued to the designated transferee or transferees. As provided in the Indenture and subject to certain limitations therein set forth, this Security is exchangeable for the same aggregate principal of
Securities of authorized denominations, as requested by the Holder surrendering the same. No service charge shall be made for any such registration of transfer or exchange, but the Company may require the payment of a sum sufficient to cover any tax
or other governmental charge payable in connection therewith. 
 The Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security may be overdue, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by
any notice to the contrary. 

 [In the event that (i) DTC, or any successor Depositary, notifies the Company and the
Trustee in writing that it is unwilling or unable to continue as Depositary for this Global Security or if at any time DTC, or any successor Depositary, ceases to be a clearing corporation registered under the Exchange Act, and a successor
Depositary is not appointed by the Company within 90 days, (ii) the Company in its sole discretion determines that the Notes shall no longer be represented by this Global Security and executes and delivers to the Trustee a Company Order that this
Global Security shall be exchangeable or (iii) there shall have occurred and be continuing an Event of Default or an event which, with the giving of notice or the lapse of time, or both, would constitute an Event of Default with respect to the
Notes represented by this Global Security, then the Company will issue Notes in definitive form in exchange for this Global Security. In such event, an owner of a beneficial interest in this Global Security will be entitled to have Notes equal in
aggregate principal amount to such beneficial interest registered in its name and will be entitled to physical delivery of such Notes in definitive form. Notes so issued in definitive form will be issued as registered Notes without coupons in
denominations of $1,000 and integral multiples thereof.] 
 [Notwithstanding any provision herein to the contrary, every Note authenticated
and delivered upon registration of transfer of, or in exchange for or in lieu of, this Global Security other than pursuant to clauses (i), (ii) or (iii) of the preceding paragraph, shall be authenticated and delivered in the form of, and shall
be, a Global Security.] 
 As provided in the Indenture, this Security shall for all purposes be governed by and construed in accordance
with the laws of the State of New York. 

 All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture unless otherwise defined herein. 
 FOR VALUE RECEIVED the undersigned hereby sells, 

assigns and transfers unto 
  

			
	 PLEASE INSERT SOCIAL SECURITY OR OTHER

  IDENTIFYING NUMBER OF ASSIGNEE
		
		
	
                         
                                         
                                         
     
		
		
	
                         
                                         
                                         
     
		

  

			
	
                         
                                         
                                         
     
		
	 (Please print or typewrite name and address including postal zip code of assignee)

  

			
	
                         
                                         
                                         
     
		
	 the within Security of ALBERTSON’S, INC. and all rights hereunder, hereby irrevocably constituting and
appointing

  

			
	
                         
                                         
                                         
     
		 attorney to transfer said Security on the books of the
	 within-named Company, with full power of substitution in the premises.

  

			
	
	Dated:		 

  

			
	SIGN HERE		 
			 NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY
PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.
  
 SIGNATURE
GUARANTEED

 EX-4.5 

FORM OF FLOATING RATE MEDIUM-TERM NOTE 

EXHIBIT 4.5 
 [Form of Floating
Rate Medium-Term Note] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL IN AS MUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

			
	 REGISTERED
 REGISTERED

NO.
 $
		ALBERTSON’S, INC.
	 Medium-Term Note

Due from 9 Months to 30 Years from Date

of Issue
 (Floating
Rate)

		
	CUSIP		
		
	 Original Issue Date:
 Minimum Interest
Rate:
		 Interest Reset Date (s):

		
	 Initial Interest Rate:
 Maximum Interest
Rate:
		 Stated Maturity:

		
	 Interest Rate Basis:
 Calculation
Agent:
		 Interest Payment Period:

		
	 Index Maturity:
 Initial Redemption
Date:
		 Interest Reset Period:

		
	 Spread:
 Initial Redemption Price:
		 Interest Payment Date (s):

		
	 Spread Multiplier:
 Premium Reduction
Amount:
		 Regular Record Date (s):

 ALBERTSON’S, INC. (the “Company”, which term includes any successor under the Indenture
referred to hereinafter), a corporation duly organized and existing under the laws of the State of Delaware, for value received, hereby promises to pay to
                , or registered assigns, the principal sum of
                 DOLLARS on the Stated Maturity, and to pay interest thereon, if any, at a rate per annum equal to the Initial Interest Rate until the first
Interest Reset Date following the Original Issue Date, and thereafter at a rate determined in accordance with the provisions below under the heading “Determination of Commercial Paper Rate”, “Determination of Prime Rate”,
“Determination of LIBOR”, “Determination of Treasury Rate”, “Determination of CD Rate” or “Determination of Federal Funds Rate”, depending upon whether the Interest Rate Basis is the Commercial Paper Rate,
Prime Rate, LIBOR, Treasury Rate, CD Rate or Federal Funds Rate, as designated on the face hereof, until the principal hereof has been paid or made available for payment. Except as provided in the Indenture, the Company will 

 
pay interest, if any, monthly, quarterly, semiannually or annually as designated on the face hereof under “Interest Payment Period”, commencing with the first Interest Payment Date
following the Original Issue Date and ending at Maturity; provided, however, that any payment of principal of, premium, if any, or interest, if any, on this Global Note, to be made on an Interest Payment Date or at Maturity which is not a Market Day
(as hereinafter defined) will be made on the next succeeding Market Day, except that if the Interest Rate Basis is LIBOR, if such next succeeding Market Day falls in the next calendar month, such payment will be made on the immediately preceding
Market Day. Interest on this Global Note, if any, will accrue from the most recent Interest Payment Date to which interest has been paid or duly provided for, or, if no interest has been paid or duly provided for, from the Original Issue Date until
the principal hereof has been paid or made available for payment. The interest so payable, and punctually paid or duly provided for on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Global Note
(or one or more Predecessor Securities) is registered at the close of business on the 15th day (whether or not a Business Day) next preceding such Interest Payment Date (a “Regular Record Date”); provided, however, that interest payable at
Maturity will be payable to the Person to whom the principal hereof shall be payable; and provided, further, that if this Global Note is originally issued between a Regular Record Date and an Interest Payment Date, then interest will be payable to
the Person in whose name this Global Note (or one or more Predecessor Securities) is registered on the next succeeding Regular Record Date, and will be so paid on the next succeeding Interest Payment Date. Any such interest which is payable, but is
not punctually paid or duly provided for on any Interest Payment Date, shall forthwith cease to be payable to the registered Holder on such Regular Record Date, and may be paid to the Person in whose name this Global Note (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Global Note not less than ten days prior to such
Special Record Date, or may be paid at any time in any other lawful manner, all as more fully provided in the Indenture. So long as this Global Note is a Global Security held by a Depositary or a nominee of such Depositary, then the principal of,
premium, if any, and interest, if any, on this Global Note on any Interest Payment Date and at Maturity shall be paid in immediately available funds to such Depositary or a nominee of such Depositary. If at any time this Global Note is no longer a
Global Security held by a Depositary or its nominee, then the principal of, premium, if any, and interest, if any, on this Global Note at Maturity shall be paid in immediately available funds to the Holder upon surrender of this Global Note at the
office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, or at such other place or places as may be designated pursuant to the Indenture, provided that this Global Note is surrendered at the
office or agency described above in time for the Paying Agent to make such payments in such funds in accordance with its normal procedures. If at any time this Global Note is no longer a Global Security held by a Depository or its nominee, then the
payment of interest, if any, on this Global Note due on any Interest Payment Date other than at Maturity shall be made by check mailed to the address of the Person entitled thereto as it appears on the Security Register on the relevant Regular or
Special Record Date, as the case may be, or by wire transfer in immediately available funds to such account as may have been appropriately designated to the Paying Agent by such Person in writing not later than such relevant Regular or Special
Record Date, as the case may be. Each payment of principal of, premium, if any, and interest, if any, on this Global Note shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the
payment of public and private debts. 
 This Global Note is one of the series of Debt Securities designated under the Indenture as
Medium-Term Notes (the “Notes”). 
 This Global Note is one of a duly authorized issue of unsecured and unsubordinated debentures,
notes or other evidences of senior indebtedness of the Company (herein referred to as the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of May 1, 1992 (herein referred to as the
“Indenture”), between the Company and Morgan Guaranty Trust Company of New York (herein referred to as the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. The Notes will be issuable in an aggregate principal amount of $        , which amount may be increased if duly authorized by the Company.
The Notes may have different Original Issue Dates and Interest Payment Dates, mature at different times and bear interest at different rates and, as provided below, be subject to different redemption provisions, and may differ in such other respects
as is provided herein or as may be provided pursuant to the terms of the Indenture. The Notes will rank on a parity with all other senior unsecured indebtedness of the Company from time to time outstanding. 

Commencing with the first Interest Reset Date specified on the face hereof following the Original Issue Date, the rate at which interest, if
any, is payable on this Global Note shall be adjusted daily, weekly, monthly, quarterly, semiannually or annually as shown on the face hereof under “Interest Reset Period”, provided, however, that the

  
 - 2 - 

 
interest rate in effect for the period from the Original Issue Date to the first Interest Reset Date shall be the Initial Interest Rate, and the interest rate in effect for the ten days
immediately preceding the Stated Maturity or Redemption Date, if any, shall be that in effect on the tenth day preceding such Stated Maturity or Redemption Date, if any. Each such adjusted rate shall be applicable on and after the Interest Reset
Date to which it relates, to but not including the next succeeding Interest Reset Date or until the Stated Maturity, as the case may be. Subject to applicable provisions of law and except as specified herein, on each Interest Reset Date, the rate of
interest, if any, on this Global Note shall be the rate determined in accordance with the provisions of the applicable heading below, plus or minus the Spread or multiplied by the Spread Multiplier, as indicated above. 

DETERMINATION OF COMMERCIAL PAPER RATE. If the Interest Rate Basis designated on the face hereof is the Commercial Paper Rate, then the
“Commercial Paper Rate” for each Interest Reset Date will be determined by the Calculation Agent as of the second Market Day preceding such Interest Reset Date (a “Commercial Paper Interest Determination Date”), and will be the
Money Market Yield (as hereinafter defined) of the per annum rate (quoted on a bank discount basis) on such Commercial Paper Interest Determination Date for commercial paper having the specified Index Maturity as published by the Board of Governors
of the Federal Reserve System in “Statistical Release H.15(519), Selected Interest Rates” or any successor publication of the Board of Governors of the Federal Reserve System (“H.15(519)”) under the heading “Commercial
Paper”. In the event that such rate is not published prior to 9:00 A.M., New York City time, on the relevant Calculation Date, then the Commercial Paper Rate with respect to such Interest Reset Date shall be the Money Market Yield of the rate
on such Commercial Paper Interest Determination Date for commercial paper having the specified Index Maturity as published by the Federal Reserve Bank of New York in its daily statistical release, “Composite 3:30 P.M. Quotations for U.S.
Government Securities” or any successor publication published by the Federal Reserve Bank of New York (“Composite Quotations”) under the heading “Commercial Paper”. If by 3:00 P.M., New York City time, on such Calculation
Date such rate is not yet published in either H.15(519) or Composite Quotations, then the Commercial Paper Rate with respect to such Interest Reset Date shall be calculated by the Calculation Agent and shall be the Money Market Yield of the
arithmetic mean of the offered per annum rates (quoted on a bank discount basis), as of 11:00 A.M., New York City time, on such Commercial Paper Interest Determination Date, of three leading dealers of commercial paper in The City of New York
selected by the Calculation Agent for commercial paper having the specified Index Maturity placed for an industrial issuer whose bond rating is “AA”, or the equivalent, from a nationally recognized rating agency; provided, however, that if
fewer than three dealers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the Commercial Paper Rate with respect to such Interest Reset Date will be the Commercial Paper Rate in effect on such Commercial
Paper Interest Determination Date. 
 “Money Market Yield” means a yield (expressed as a percentage) calculated in accordance with
the following formula: 
  

													
					360 x D								
	 Money Market Yield
		=		100 x								
		 		  	  
	  		  		  		  	
					360 - (D x M)								

 where “D” refers to the per annum rate for commercial paper quoted on a bank discount basis and expressed as a
decimal; and “M” refers to the actual number of days in the period corresponding to the specified Index Maturity. 
 The
“Calculation Date” pertaining to a Commercial Paper Interest Determination Date shall be the tenth day after such Commercial Paper Interest Determination Date or, if any such day is not a Market Day, the next succeeding Market Day. 

“Market Day” means (a) with respect to any Note (other than any LIBOR Note), any Business Day in The City of New York, and
(b) with respect to any LIBOR Note, any Business Day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 

DETERMINATION OF PRIME RATE. If the Interest Rate Basis designated on the face hereof is the Prime Rate, then the “Prime Rate” for
each Interest Reset Date will be determined by the Calculation Agent as of the second Market Day preceding such Interest Reset Date (a “Prime Rate Interest Determination Date”), and will be the rate set forth for the relevant Prime Rate
Interest Determination Date in H.15(519) under the heading “Bank Prime Loan”. In the event that such rate is not published prior to 9:00 A.M., New York City time, on the relevant Calculation Date, then the Prime Rate with respect to such
Interest Reset Date will be the arithmetic mean of the rates of interest publicly announced by each bank that appears on the display designated as page “NYMF” on the Reuters Monitor Money Rates Service (or such other page as may replace
the NYMF page on that service for the purpose of displaying prime rates or base lending 

  
 - 3 - 

 rates of major United States banks) (“Reuters Screen NYMF Page”) as such bank’s prime rate or base
lending rate as in effect for such Prime Rate Interest Determination Date as quoted on the Reuters Screen NYMF Page on such Prime Rate Interest Determination Date. If fewer than four such rates appear on the Reuters Screen NYMF Page on such Prime
Rate Interest Determination Date, the Prime Rate with respect to such Interest Reset Date will be the arithmetic mean of the prime rates or base lending rates (quoted on the basis of the actual number of days in the year divided by a 360-day year)
as of the close of business on such Prime Rate Interest Determination Date by three major banks in The City of New York selected by the Calculation Agent; provided, however, that if fewer than three banks selected as aforesaid by the Calculation
Agent are quoting as mentioned in this sentence, the Prime Rate with respect to such Interest Reset Date will be the Prime Rate in effect on such Prime Rate Interest Determination Date. 

The “Calculation Date” pertaining to a Prime Rate Interest Determination Date shall be the tenth day after such Prime Rate Interest
Determination Date or, if any such day is not a Market Day, the next succeeding Market Day. 
 DETERMINATION OF LIBOR. If the Interest Rate
Basis designated on the face hereof is LIBOR, then “LIBOR” for each Interest Reset Date will be determined by the Calculation Agent as of the second Market Day preceding such Interest Reset Date (a “LIBOR Interest Determination
Date”) as follows: 
 (i) On the relevant LIBOR Interest Determination Date, LIBOR will be determined on the basis of
the offered rates for deposits of not less than U.S. $1,000,000 having the specified Index Maturity, commencing on the second Market Day immediately following such LIBOR Interest Determination Date, which appear on the display designated as page
“LIBO” on the Reuters Monitor Money Rates Service (or such other page as may replace the LIBO page on that service for the purpose of displaying London interbank offered rates of major banks) (“Reuters Screen LIBO Page”) as of
11:00 A.M., London time, on such LIBOR Interest Determination Date. If at least two such offered rates appear on the Reuters Screen LIBO Page, LIBOR with respect to such Interest Reset Date will be the arithmetic mean of such offered rates as
determined by the Calculation Agent. If fewer than two offered rates appear, LIBOR with respect to such Interest Reset Date will be determined as described in (ii) below. 

(ii) With respect to a LIBOR Interest Determination Date on which fewer than two offered rates for the specified Index Maturity
appear on the Reuters Screen LIBO Page as described in (i) above, LIBOR will be determined on the basis of the rates at approximately 11:00 A.M., London time, on such LIBOR Interest Determination Date at which deposits in U.S. dollars having
the specified Index Maturity are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent commencing on the second Market Day immediately following such LIBOR Interest
Determination Date and in a principal amount equal to an amount of not less than U.S. $1,000,000 that in the Calculation Agent’s judgment is representative for a single transaction in such market at such time (a “Representative
Amount”). The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, LIBOR with respect to such Interest Reset Date will be the
arithmetic mean of such quotations. If fewer than two quotations are provided, LIBOR with respect to such Interest Reset Date will be the arithmetic mean of the rates quoted at approximately 11:00 A.M., New York City time, on such LIBOR Interest
Determination Date by three major banks in The City of New York, selected by the Calculation Agent, for loans in U.S. dollars to leading European banks having the specified Index Maturity commencing on the second Market Day immediately following
such LIBOR Interest Determination Date and in a Representative Amount; provided, however, that if fewer than three banks selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, LIBOR with respect to such Interest
Reset Date will be the LIBOR in effect on such LIBOR Interest Determination Date. 
 DETERMINATION OF TREASURY RATE. If the Interest Rate
Basis designated on the face hereof is the Treasury Rate, then the “Treasury Rate” for each Treasury Rate Interest Determination Date (as hereinafter defined) will be the rate for the auction on the relevant Treasury Rate Interest
Determination Date of direct obligations of the United States (“Treasury bills”) having the specified Index Maturity as published in H.15(519) under the heading “U.S. Government Securities/Treasury Bills/Auction Average
(Investment)” or, if not so published by 9:00 A.M., New York City time, 

  
 - 4 - 

 The “Calculation Date” pertaining to a Federal Funds Rate Interest Determination Date
will be the tenth day after such Federal Funds Rate Interest Determination Date or, if such day is not a Market Day, the next succeeding Market Day. 

Notwithstanding the foregoing, the interest rate hereon shall not be greater than the Maximum Interest Rate, if any, or less than the Minimum
Interest Rate, if any, designated on the face hereof. The Calculation Agent shall calculate the interest rate hereon in accordance with the foregoing on or before each Calculation Date or other date on which an interest rate is to be calculated. The
interest rate on this Global Note will in no event be higher than the maximum rate permitted by New York law, as the same may be modified by United States law of general application. 

At the request of the Holder hereof, the Calculation Agent will provide to such Holder the interest rate hereon then in effect and, if
determined, the interest rate which will become effective on the next Interest Reset Date. The Calculation Agent’s determination of any interest rate will be final and binding in the absence of manifest error. 

Interest payments hereon will include interest accrued to but excluding the Interest Payment Date; provided, however, that if the Interest
Reset Dates with respect to this Global Note are daily or weekly, interest payable on any Interest Payment Date, other than interest payable on any date on which principal hereof is payable, will include only interest accrued to and including the
next preceding Regular Record Date. Accrued interest hereon from the Original Issue Date or from the last date to which interest hereon has been paid, as the case may be, shall be an amount calculated by multiplying the face amount hereof by an
accrued interest factor. Such accrued interest factor shall be computed by adding the interest factor calculated for each day from the Original Issue Date, or from the last date to which interest has been paid, as the case may be, to but excluding
the date for which accrued interest is being calculated. The interest factor (expressed as a decimal, and rounded upwards, if necessary, to the next higher one hundred-thousandth of a percentage point) for each such day shall be computed by dividing
the interest rate (expressed as a decimal, and rounded upwards, if necessary, to the next higher one hundred-thousandth of a percentage point) applicable to such date by 360, if the Interest Rate Basis is the Commercial Paper Rate, the Prime Rate,
LIBOR, the CD Rate or the Federal Funds Rate, as designated on the face hereof, or by the actual number of days in the year, if the Interest Rate Basis is the Treasury Rate, as designated on the face hereof. 

Each of the defeasance and covenant defeasance provisions of Article Thirteen of the Indenture shall [not] apply to this Global Note. 

Each of the covenant provisions of Sections 1008 and 1009 of the Indenture shall [not] apply to this Global Note. 

This Global Note is [not] subject to payment from a sinking fund. 

If so designated on the face of this Global Note, this Global Note may be redeemed by the Company on any date on and after the Initial
Redemption Date indicated on the face hereof. If no Initial Redemption Date is set forth on the face hereof, this Global Note may not be redeemed prior to its Stated Maturity. On and after the Initial Redemption Date, if any, this Global Note may be
redeemed at the option of the Company in whole or in part in increments of $1,000 (provided that any remaining principal amount of this Global Note shall be at least $100,000) at the Redemption Price, together with accrued interest to the Redemption
Date, on notice given not more than 60 nor less than 30 days prior to the Redemption Date. The Redemption Price shall be initially equal to the Initial Redemption Price set forth on the face hereof on the Initial Redemption Date (plus accrued
interest to the Initial Redemption Date), and shall decline (but not below par) on each anniversary of the Initial Redemption Date by the Premium Reduction Amount set forth on the face hereof until the Redemption Price is equal to 100% of such
principal amount, plus accrued interest to the date this Global Note is redeemed (the “Redemption Date”). If less than all of this Global Note is to be redeemed, the beneficial interests in this Global Note to be redeemed shall be selected
by the Trustee by such method as the Trustee shall deem fair and appropriate. In the event of redemption of this Global Note in part only, a new Global Note for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon
surrender hereof. 
 If an Event of Default with respect to this Global Note shall occur and be continuing, the entire principal amount of
this Global Note may be declared due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series issued under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than 66 2/3% in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture also 

  
 - 5 - 

 
permits the amendment thereof without the consent of the Holders of any of the Securities to, among other things, cure any ambiguity or omission or correct or supplement any provision therein
that may be inconsistent with any other provision therein, or take certain other actions, provided that such actions will not adversely affect the interests of the Holders of Securities of any series in any material respect. The Indenture also
contains provisions permitting the Holders of not less than a majority in aggregate principal amount of Securities of any series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive certain past defaults under
the Indenture and the consequences thereof. Any such consent or waiver by the Holder of this Global Note shall be conclusive and binding upon such Holder and upon all future Holders of this Global Note and of any Note issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Global Note. 

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

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Global Note is registrable on the
Security Register upon surrender of this Global Note for registration of transfer at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Global Notes of authorized denominations and
for the same aggregate principal amount will be issued to the designated transferee or transferees. As provided in the Indenture and subject to certain limitations therein set forth, this Global Note is exchangeable for the same aggregate principal
of Global Notes of authorized denominations, as requested by the Holder surrendering the same. No service charge shall be made for any such registration of transfer or exchange, but the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Global Note is registered as the owner hereof for all purposes, whether or not this Global Note may be overdue, and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall
be affected by any notice to the contrary. 
 In the event that (i) DTC, or any successor Depositary, notifies the Company and the
Trustee in writing that it is unwilling or unable to continue as Depositary for this Global Note or if at any time DTC, or any successor Depositary, ceases to be a clearing corporation registered under the Exchange Act, and a successor Depositary is
not appointed by the Company within 90 days, (ii) the Company in its sole discretion determines that the Notes shall no longer be represented by this Global Note and executes and delivers to the Trustee a Company Order that this Global Note shall be
exchangeable or (iii) there shall have occurred and be continuing an Event of Default or an event which, with the giving of notice or the lapse of time, or both, would constitute an Event of Default with respect to the Notes represented by this
Global Note, then the Company will issue Notes in definitive form in exchange for this Global Note. Notes so issued in definitive form will be issued as registered Notes without coupons in denominations of $100,000 and integral multiples of $1,000
in excess thereof. 
 AS PROVIDED IN THE INDENTURE, THIS GLOBAL NOTE SHALL FOR ALL PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK. 
 All terms used in this Global Note which are defined in the Indenture shall have the meanings assigned
to them in the Indenture unless otherwise defined herein. 
 This Global Note shall not be valid or become obligatory for any purpose until
the Certificate of Authentication hereon shall have been signed by the Trustee under the Indenture. 
 WITNESS the seal of the Company and
the signatures of its duly authorized officers. 
  

							
					ALBERTSON’S, INC.
				
	Dated:				By: 		 

  
 - 6 - 

					
			
					 Senior Vice President, Finance
 and Chief
Financial Officer

			
	 [SEAL]
		By:		  

					Corporate Secretary

 Trustee’s Certification of Authentication 

This is one of the Securities of the series designated 
 therein
referred to in the within-mentioned Indenture. 
 First Trust of New York, N.A., as Trustee 

 

					
		
	 By:
		 
			Authorized Officer

  
 - 7 - 

 ASSIGNMENT 

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto 

PLEASE INSERT SOCIAL SECURITY OR OTHER 
   IDENTIFYING
NUMBER OF ASSIGNEE: 
  

					
	 				
			
	 	  	 	  	 

 (Please print or typewrite name and address including 

postal zip code of assignee) 
 the within Global
Note of ALBERTSON’S, INC. and all rights hereunder, hereby irrevocably constituting and appointing
                                 attorney to transfer said Global Note on the
books of the within-named Company, with full power of substitution in the premises. 
 Dated:
                                         
    
  

					
			SIGN HERE		  

					NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 SIGNATURE GUARANTEED 

 EX-5.1 

OPINION OF THOMAS R. SALDIN, ESQ. 

[ALBERTSON’S LETTERHEAD] 

EXHIBIT 5.1 

December 8, 1997 

Albertson’s, Inc. 
 P. O. Box 20 

Boise, ID 83726 
 RE: Albertson’s, Inc.
Registration Statement on Form S-3 
 Ladies and Gentlemen: 

I am Executive Vice President, Administration and General Counsel of Albertson’s, Inc., a Delaware corporation (the “Company”).
I have assisted in the preparation of the above-referenced Registration Statement on Form S-3 being filed by the Company with the Securities and Exchange Commission (the “Commission”) on or about December 8, 1997 (the
“Registration Statement”) in connection with the Company’s registration under the Securities Act of 1933, as amended (the “1933 Act”), of $500,000,000 aggregate principal amount of senior debt securities (the “Debt
Securities”) of the Company. The Debt Securities are being registered for offering and sale from time to time on a delayed or continuous basis pursuant to Rule 415 under the 1933 Act. The Debt Securities are to be issued pursuant to an
indenture dated as of May 1, 1992 (the “Indenture”), entered into between the Company and First Trust of New York, N.A., a New York corporation, as trustee (the “Trustee”) and successor in interest to the corporate trust
business of Morgan Guaranty Trust Company of New York. 
 In connection with this opinion, I have examined and am familiar with originals or
copies, certified or otherwise identified to my satisfaction of (i) the Registration Statement on Form S-3 relating to the Debt Securities (together with the form of Prospectus forming a part thereof); (ii) the Certificate of Incorporation
of the Company, as currently in effect (the “Certificate of Incorporation”); (iii) the By-Laws of the Company as currently in effect (the “By-Laws”); (iv) the resolutions of the Company’s Board of Directors
relating to (A) the preparation of the Registration Statement and the registration of the Debt Securities under the 1933 Act and (B) the issuance, offering and sale from time to time of the Debt Securities; and (v) the Indenture. I
have also examined originals or copies, certified or otherwise identified to my satisfaction of such records of the Company and such agreements, certificates of public officials, certificates of officers or other representatives of the Company and
others and such other documents, certificates and records as I have deemed necessary or appropriate as a basis for the opinions set forth herein. 

 Albertson’s Inc. 

December 8, 1997 
 Page 2 

In my examination, I have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents
submitted to me as originals, the conformity to original documents of all documents submitted to me as certified, conformed or photostatic copies and the authenticity of the originals of such latter documents. In making my examination of documents
executed or to be executed by parties other than the Company, I have assumed that such parties had or will have the power, corporate or other, to enter into and perform all obligations thereunder and have also assumed the due authorization by all
requisite action, corporate or other, and execution and delivery by such parties of such documents and the validity and binding effect thereof. As to any facts material to the opinions expressed herein which I have not independently established or
verified, I have relied upon statements and representations of officers and other representatives of the Company and others. 
 I am
admitted to the practice of law in the State of Idaho, and I express no opinion as to the laws of any other jurisdiction, other than the General Corporation Law of the State of Delaware and laws of the United States of America. With respect to my
opinion below, to the extent it constitutes an opinion related to New York law, I have reviewed and relied upon a legal opinion addressed to the Company of Skadden, Arps, Slate, Meagher & Flom LLP that, subject to the qualifications and
assumptions stated therein, the Debt Securities will be validly issued and legally binding obligations of the Company under New York law. 

Based upon and subject to the foregoing, I am of the opinion that with respect to any series of Debt Securities (the “Offered
Securities”), when (i) the Registration Statement, as finally amended (including all necessary post-effective amendments), has become effective; (ii) an appropriate Prospectus Supplement with respect to the Offered Securities has been
prepared, delivered and filed in compliance with the 1933 Act and the applicable rules and regulations thereunder; (iii) if the Offered Securities are to be sold pursuant to a firm commitment underwritten offering, the Underwriting Agreement
with respect to the Offered Securities has been duly authorized, executed and delivered by the Company and the other parties thereto; (iv) the terms of the Offered Securities and of their issuance and sale have been duly established in
conformity with the applicable Indenture so as not to violate any applicable law, the Certificate of Incorporation or By-laws of the Company or result in a default under or breach of any agreement or instrument binding upon the Company and so as to
comply with any requirement or restriction imposed by any court or 

 Albertson’s Inc. 

December 8, 1997 
 Page 3 

governmental body having jurisdiction over the Company; (v) the Indenture has been qualified under the Trust Indenture Act of 1939, as amended; and
(vi) the Offered Securities have been duly executed and authenticated in accordance with the provisions of the Indenture and duly delivered to the purchasers thereof upon payment of the agreed upon consideration therefor (assuming due
authorization, execution and delivery of the Indenture by the Trustee), the Offered Securities, when issued and sold in accordance with the Underwriting Agreement or any other duly authorized, executed and delivered applicable valid and binding
purchase agreement will be valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except to the extent that enforcement thereof may be limited by (a) bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, or other similar laws now or hereafter in effect relating to creditors’ rights generally; (b) general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at
law), (c) public policy considerations which may limit the rights of parties to obtain further remedies, and (d) governmental authority to limit, delay or prohibit the making of payments outside the United States. 

I hereby consent to your filing of this opinion as an exhibit in the Registration Statement and to the reference to me in the prospectus
incorporated herein. 
  

	
	Sincerely yours,
	
	ALBERTSON’S, INC.
	
	 /s/ Thomas R. Saldin

Thomas R. Saldin
 Executive Vice President,

Administration and General Counsel

	

 TRS: dmd 

 EX-12.1 

COMPUTATION OF RATIO OF EARNINGS 

EXHIBIT 12.1 
 ALBERTSON’S,
INC. AND SUBSIDIARIES 
 STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 

(dollars in thousands) 
  

																													
	 	  	 52 Weeks

Ended
 Jan. 28,

1993
	 	  	 53 Weeks

Ended
 Feb. 3,

1994
	 	  	 52 Weeks

Ended
 Feb. 2,

1995
	 	  	 52 Weeks

Ended
 Feb. 1,

1996
	 	  	 52 Weeks

Ended
 Jan. 30,

1997
	 	  	 39 Weeks

Ended
 Oct. 31,

1996
	 	  	 39 Weeks

Ended
 Oct. 30,

1997
	 
	 Earnings from operations:
	  				  				  				  				  				  				  			
	 Earnings before income taxes and cumulative effects of accounting changes
	  	$	443,721	  	  	$	552,215	  	  	$	678,652	  	  	$	758,501	  	  	$	794,847	  	  	$	550,264	  	  	$	551,436	  
	 Add:
	  				  				  				  				  				  				  			
	 Portion of rents representative of interest
	  	 	45,891	  	  	 	46,774	  	  	 	47,753	  	  	 	49,832	  	  	 	52,439	  	  	 	38,942	  	  	 	40,797	  
	 Interest expense, including amortization of debt discount
	  	 	34,390	  	  	 	41,257	  	  	 	53,260	  	  	 	47,916	  	  	 	58,023	  	  	 	40,434	  	  	 	54,913	  
	 Amortization of previously capitalized interest
	  	 	1,556	  	  	 	1,750	  	  	 	1,964	  	  	 	2,172	  	  	 	2,588	  	  	 	1,910	  	  	 	2,139	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Earnings, as adjusted
		$	525,558	  		$	641,996	  		$	781,629	  		$	858,421	  		$	907,897	  		$	631,550	  		$	649,285	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Fixed charges:
																												
	 Interest expense, including amortization of debt discount
		$	34,390	  		$	41,257	  		$	53,260	  		$	47,916	  		$	58,023	  		$	40,434	  		$	54,913	  
	 Capitalized interest
		 	4,617	  		 	4,219	  		 	3,974	  		 	7,428	  		 	6,378	  		 	4,872	  		 	5,731	  
	 Portion of rents representative of interest
		 	45,891	  		 	46,774	  		 	47,753	  		 	49,832	  		 	52,439	  		 	38,942	  		 	40,797	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total fixed charges
		$	84,898	  		$	92,250	  		$	104,987	  		$	105,176	  		$	116,840	  		$	84,248	  		$	101,441	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Ratio of earnings to fixed charges
		 	6.19	  		 	6.96	  		 	7.45	  		 	8.16	  		 	7.77	  		 	7.50	  		 	6.40	  

 NOTE: For the purpose of calculating the ratio of earnings to fixed charges, (a) earnings have been calculated by adding
fixed charges (excluding capitalized interest) to earnings from operations before taxes and cumulative effects of accounting changes, and (b) fixed charges consist of gross interest costs, whether expensed or capitalized, amortization of debt
discount and expense and that portion of rental expense that represents interest. 

 EX-23.1 

CONSENT OF DELOITTE & TOUCHE LLP 

EXHIBIT 23.1 
 INDEPENDENT
AUDITORS’ CONSENT 
 We consent to the incorporation by reference in this Registration Statement on Form S-3 of Albertson’s, Inc.
(the “Company”) of our report dated March 19, 1997 incorporated by reference in the Company’s Annual Report on Form 10-K for the fiscal year ended January 30, 1997 and to the reference to us under the heading
“Experts” in the Prospectus that is a part of this Registration Statement. 
 /s/ Deloitte & Touche LLP 

DELOITTE & TOUCHE LLP 
 Boise, Idaho 

December 8, 1997 

 EX-25.1 

FORM T-1 
 EXHIBIT 25.1 

 
  

 
 SECURITIES AND EXCHANGE COMMISSION

 WASHINGTON, D.C. 20549 
  

 
 FORM T-1

  
  

STATEMENT OF ELIGIBILITY 

UNDER THE TRUST INDENTURE ACT OF 1939 

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE 
  

	 ̈	CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO 

	  	SECTION 305(b)(2)             

  

 
 FIRST TRUST OF
NEW YORK, NATIONAL ASSOCIATION 
 (Exact name of trustee as specified in its charter) 

 
  

13-3781471 
 (I. R. S.
Employer Identification No.) 
 100 Wall Street, New York, NY 10005 

(Address of principal executive offices) (Zip Code) 

For information, contact: 

Dennis Calabrese, President 

First Trust of New York, National Association 

100 Wall Street, 16th Floor 

New York, NY 10005 

Telephone: (212) 361-2506 
  

 

ALBERTSON’S, INC. 

(Exact name of obligor as specified in its charter) 
  

 
  

			
	Delaware	 	82-0184434
	(State or other jurisdiction of
incorporation or organization)	 	(I. R. S. Employer
Identification No.)

  

			
	 250 Parkcenter Blvd.

Box 20
 Boise,
Idaho
 (Address of principal executive offices)
	  	 83726

(Zip Code)

  
  

DEBT SECURITIES 
  

 
  

 Item 1.    General Information. 

Furnish the following information as to the trustee - - 

	 	(a)	Name and address of each examining or supervising authority to which it is subject. 

  

			
	 Name
		Address
	 Comptroller of the Currency
		Washington, D. C.

  

	 	(b)	Whether it is authorized to exercise corporate trust powers. 

 Yes. 

Item 2.    Affiliations with the Obligor. 

If the obligor is an affiliate of the trustee, describe each such affiliation. 

None. 

Item 16.    List of Exhibits. 
  

			
	Exhibit 1.		Articles of Association of First Trust of New York, National Association, incorporated herein by reference to Exhibit 1 of Form T-1, Registration No. 33-83774.
		
	Exhibit 2.		Certificate of Authority to Commence Business for First Trust of New York, National Association, incorporated herein by reference to Exhibit 2 of Form T-1, Registration No. 33-83774.
		
	Exhibit 3.		Authorization of the Trustee to exercise corporate trust powers for First Trust of New York, National Association, incorporated herein by reference to Exhibit 3 of Form T-1, Registration No. 33-83774.
		
	Exhibit 4.		By-Laws of First Trust of New York, National Association, incorporated herein by reference to Exhibit 4 of Form T-1, Registration No. 333-34113.
		
	Exhibit 5.		Not applicable.
		
	Exhibit 6.		Consent of First Trust of New York, National Association, required by Section 321(b) of the Act, incorporated herein by reference to Exhibit 6 of Form T-1, Registration No. 33-83774.
		
	Exhibit 7.		Report of Condition of First Trust of New York, National Association, as of the close of business on September 30, 1997, published pursuant to law or the requirements of its supervising or examining authority.
		
	Exhibit 8.		Not applicable.
		
	Exhibit 9.		Not applicable.

 SIGNATURE 

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, First Trust of New York, National Association, a
national banking association organized and existing under the laws of the United States, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State
of New York, on the 1st day of December, 1997. 
  
  

			
	FIRST TRUST OF NEW YORK,
	
	NATIONAL ASSOCIATION
		
	By:		/s/ Catherine F. Donohue
			 Catherine F. Donohue
 Vice
President

 Exhibit 7 

First Trust of New York, National Association 

Statement of Financial Condition 

As of 9/30/97 
 ($000’s) 

 

					
	 	  	9/30/97	 
	 Assets
	  			
	 Cash and Due From Depository Institutions
	  	$	36,355	  
	 Federal Reserve Stock
	  	 	3,467	  
	 Fixed Assets
	  	 	753	  
	 Intangible Assets
	  	 	76,047	  
	 Other Assets
	  	 	5,619	  
	 Total Assets
	  	$	122,241	  
		
	 Liabilities
	  			
	 Other Liabilities
	  	 	7,592	  
	 Total Liabilities
	  	 	7,592	  
		
	 Equity
	  			
	 Common and Preferred Stock
	  	 	1,000	  
	 Surplus
	  	 	120,932	  
	 Undivided Profits
	  	 	(7,283	) 
	 Total Equity Capital
	  	 	114,649	  
	 Total Liabilities and Equity Capital
	  	$	122,241	  

 To the best of the undersigned’s determination, as of this date the above financial information is true and correct. 

First Trust of New York, National Association 
  

			
	 By:
	 	/S/ Catherine F. Donohue
		 	Vice President
		
	 Date:
	 	November 18, 1997

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