Document:

EX-4.1

 Exhibit 4.1 

Execution Version 
 VISTRA
OPERATIONS COMPANY LLC, 
 as Issuer 

4.375% SENIOR NOTES DUE 2029 

INDENTURE 
 Dated as of
May 10, 2021 
 Wilmington Trust, National Association 

as Trustee 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		 	Article 1	  			
		 	DEFINITIONS AND INCORPORATION BY REFERENCE	  			
			
	 Section 1.01
	 	 Definitions
	  	 	1	 
	 Section 1.02
	 	 Other Definitions
	  	 	18	 
	 Section 1.03
	 	 Rules of Construction
	  	 	18	 

 Article 2 

THE NOTES 
  

							
	 Section 2.01
	 	 Form and Dating
	  	 	19	 
	 Section 2.02
	 	 Execution and Authentication
	  	 	21	 
	 Section 2.03
	 	 Registrar and Paying Agent
	  	 	21	 
	 Section 2.04
	 	 Paying Agent to Hold Money in Trust
	  	 	21	 
	 Section 2.05
	 	 Holder Lists
	  	 	22	 
	 Section 2.06
	 	 Transfer and Exchange
	  	 	22	 
	 Section 2.07
	 	 Issuance of Additional Notes
	  	 	35	 
	 Section 2.08
	 	 Replacement Notes
	  	 	35	 
	 Section 2.09
	 	 Outstanding Notes
	  	 	35	 
	 Section 2.10
	 	 Treasury Notes
	  	 	36	 
	 Section 2.11
	 	 Temporary Notes
	  	 	36	 
	 Section 2.12
	 	 Cancellation
	  	 	36	 
	 Section 2.13
	 	 CUSIP Numbers
	  	 	36	 

 Article 3 

REDEMPTION AND PREPAYMENT 
  

							
	 Section 3.01
	 	 Notices to Trustee
	  	 	37	 
	 Section 3.02
	 	 Selection of Notes to Be Redeemed
	  	 	37	 
	 Section 3.03
	 	 Notice of Redemption
	  	 	38	 
	 Section 3.04
	 	 Effect of Notice of Redemption
	  	 	39	 
	 Section 3.05
	 	 Deposit of Redemption Price
	  	 	39	 
	 Section 3.06
	 	 Notes Redeemed in Part
	  	 	40	 
	 Section 3.07
	 	 Optional Redemption
	  	 	40	 
	 Section 3.08
	 	 Mandatory Redemption
	  	 	41	 
	 Section 3.09
	 	 Calculation of Redemption Price
	  	 	41	 

 Article 4 

COVENANTS 
  

							
	 Section 4.01
	 	Payment of Notes	  	 	41	 
	 Section 4.02
	 	Maintenance of Office or Agency	  	 	42	 
	 Section 4.03
	 	Reports	  	 	42	 
	 Section 4.04
	 	Compliance Certificate	  	 	43	 
	 Section 4.05
	 	Liens	  	 	44	 
	 Section 4.06
	 	Offer to Repurchase Upon a Change of Control Trigger Event	  	 	44	 
	 Section 4.07
	 	Additional Subsidiary Guarantees	  	 	46	 

  
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 Article 5 

SUCCESSORS 
  

							
	 Section 5.01
	 	 Merger, Consolidation or Sale of Assets
	  	 	46	 
	 Section 5.02
	 	Successor Company Substituted	  	 	47	 

 Article 6 

DEFAULTS AND REMEDIES 
  

							
	 Section 6.01
	 	 Events of Default
	  	 	47	 
	 Section 6.02
	 	 Acceleration
	  	 	49	 
	 Section 6.03
	 	 Waiver of Past Defaults
	  	 	49	 
	 Section 6.04
	 	 Control by Majority
	  	 	49	 
	 Section 6.05
	 	 Limitations on Suits
	  	 	49	 
	 Section 6.06
	 	 Collection Suit by Trustee
	  	 	50	 
	 Section 6.07
	 	 Priorities
	  	 	50	 
	 Section 6.08
	 	 Trustee May File Proofs of Claim
	  	 	51	 
	 Section 6.09
	 	Noteholder Directions	  	 	51	 

 Article 7 

TRUSTEE 
  

							
	 Section 7.01
	 	 Duties of Trustee
	  	 	53	 
	 Section 7.02
	 	 Rights of Trustee
	  	 	54	 
	 Section 7.03
	 	 Individual Rights of Trustee
	  	 	56	 
	 Section 7.04
	 	 Trustee’s Disclaimer
	  	 	56	 
	 Section 7.05
	 	 Notice of Defaults
	  	 	56	 
	 Section 7.06
	 	 Compensation and Indemnity
	  	 	56	 
	 Section 7.07
	 	 Replacement of Trustee
	  	 	57	 
	 Section 7.08
	 	 Successor Trustee by Merger, etc.
	  	 	58	 
	 Section 7.09
	 	Eligibility; Disqualification	  	 	58	 

 Article 8 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
  

							
	 Section 8.01
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	59	 
	 Section 8.02
	 	 Legal Defeasance and Discharge
	  	 	59	 
	 Section 8.03
	 	 Covenant Defeasance
	  	 	59	 
	 Section 8.04
	 	 Conditions to Legal or Covenant Defeasance
	  	 	60	 
	 Section 8.05
	 	 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous
Provisions
	  	 	61	 
	 Section 8.06
	 	 Repayment to the Company
	  	 	62	 
	 Section 8.07
	 	Reinstatement	  	 	62	 

 Article 9 

AMENDMENT, SUPPLEMENT AND WAIVER 
  

							
	 Section 9.01
	 	 Without Consent of Holders of Notes
	  	 	62	 
	 Section 9.02
	 	 With Consent of Holders of Notes
	  	 	63	 

  
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	 Section 9.03
	 	 Revocation and Effect of Consents
	  	 	65	 
	 Section 9.04
	 	 Notation on or Exchange of Notes
	  	 	65	 
	 Section 9.05
	 	Trustee to Sign Amendments, etc.	  	 	65	 

 Article 10 

SUBSIDIARY GUARANTEES 
  

							
	 Section 10.01
	 	 Guarantee
	  	 	66	 
	 Section 10.02
	 	 Limitation on Subsidiary Guarantor Liability
	  	 	67	 
	 Section 10.03
	 	 Subsidiary Guarantors May Consolidate, etc., on Certain Terms
	  	 	67	 
	 Section 10.04
	 	Releases	  	 	68	 

 Article 11 

SATISFACTION AND DISCHARGE 
  

							
	 Section 11.01
	 	 Satisfaction and Discharge
	  	 	68	 
	 Section 11.02
	 	Application of Trust Money	  	 	69	 

 Article 12 

MISCELLANEOUS 
  

							
	 Section 12.01
	 	 Notices
	  	 	70	 
	 Section 12.02
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	71	 
	 Section 12.03
	 	 Statements Required in Certificate or Opinion
	  	 	71	 
	 Section 12.04
	 	 Rules by Trustee and Agents
	  	 	72	 
	 Section 12.05
	 	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	72	 
	 Section 12.06
	 	 Governing Law
	  	 	72	 
	 Section 12.07
	 	 Waiver of Immunity
	  	 	73	 
	 Section 12.08
	 	 Waiver of Jury Trials
	  	 	73	 
	 Section 12.09
	 	 No Adverse Interpretation of Other Agreements
	  	 	73	 
	 Section 12.10
	 	 Successors
	  	 	73	 
	 Section 12.11
	 	 USA Patriot Act
	  	 	73	 
	 Section 12.12
	 	 Severability
	  	 	74	 
	 Section 12.13
	 	 Counterpart Originals
	  	 	74	 
	 Section 12.14
	 	 Table of Contents, Headings, etc.
	  	 	74	 

 EXHIBITS 
  

			
	 Exhibit A
	 	 Form of Note

	 Exhibit B
	 	 Form of Certificate of Transfer

	 Exhibit C
	 	 Form of Certificate of Exchange

	 Exhibit D
	 	 Form of Supplemental Indenture — Additional Subsidiary Guarantees

  
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 INDENTURE, dated as of May 10, 2021, by and among Vistra Operations Company LLC, a
Delaware limited liability company (the “Company”), the Subsidiary Guarantors (as defined herein) and Wilmington Trust, National Association, as trustee (the “Trustee”). 

The Company and the Subsidiary Guarantors desire to the extent set forth herein to provide for the issuance and the terms of the Notes (as
defined below). 
 The execution and delivery of this Indenture has been duly authorized by a resolution of the Board of Directors of the
Company and each of the Subsidiary Guarantors. 
 All conditions and requirements necessary to make this Indenture a valid, binding and
legal instrument of the Company in accordance with its terms have been performed and fulfilled and the execution and delivery hereof has been in all respects duly authorized by the Company. 

The Company, the Subsidiary Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of
the Holders (as defined herein) of the 4.375% Senior Notes due 2029 (the “Notes”): 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 
 For all
purposes of this Indenture, the following terms shall have the respective meanings set forth in this Section. 
 “144A Global
Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depository or its nominee
that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A. 

“Additional Indebtedness” means Indebtedness of the Company for borrowed money (excluding indebtedness under the Credit
Agreement) under any debt securities or term loans broadly syndicated to institutional investors in a principal amount in excess of $300.0 million. 

“Additional Notes” means additional Notes (other than the Initial Notes) issued from time to time under this Indenture in
accordance with Section 2.07 hereof, as part of the same series as the Initial Notes. 

“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,” 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 

  
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or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided that Beneficial Ownership of 10% or more of the Voting Stock of a Person
will be deemed to be control. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 

“Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent.

 “Applicable Law” means, as to any Person, any ordinance, law, treaty, rule or regulation or any determination,
ruling or other directive by and from an arbitrator or a court or other Governmental Authority, in each case, applicable to or binding on such Person or any of its property or assets or to which such Person or any of its property is subject. 

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

(1) 1.0% of the principal amount of such Note; or 

(2) the excess of: 

(a) the present value at such redemption date of (i) the redemption price of such Note at May 1, 2024 (such
redemption price being set forth in the table appearing in Section 3.07(d) hereof) plus (ii) all required interest payments due on the Note through May 1, 2024 (excluding accrued but unpaid interest to the
redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over 

(b) the principal amount of the Note. 

Calculation of the Applicable Premium shall be made by the Company or on behalf of the Company by such Person as the Company shall designate
and, in any event, such calculation shall not be a duty or obligation of the Trustee. 
 “Applicable Procedures” means,
with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depository that apply to such transfer or exchange. 

“Asset Disposition” means “Disposition” as defined in the Credit Agreement as in effect on the Issue Date. 

“Attributable Debt” means, in respect of a sale and leaseback transaction, at the time of determination, the present value of
the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including any period for which such lease has been extended or may, at the option of the lessor, be extended.
Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP; provided, however, that if such sale and leaseback transaction results in a
Capital Lease Obligation, the amount of Indebtedness represented thereby will be determined in accordance with the definition of “Capital Lease Obligation.” 

  
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 “Authorized Officer” means, with respect to (i) delivering an
Officer’s Certificate pursuant to this Indenture, the chief executive officer, the president, the chief financial officer, the treasurer, any assistant treasurer, the principal accounting officer or any other person of the Company having
substantially the same responsibilities as the aforementioned officers, and (ii) any other matter in connection with this Indenture, the chief executive officer, the chief financial officer, the treasurer, any assistant treasurer, the general
counsel or a responsible financial or accounting officer of the Company. 
 “Bankruptcy Law” means Title 11 of the United
States Code, 11 U.S.C. §§ 101, et seq., as amended from time to time, or any similar federal, state or foreign bankruptcy, insolvency, reorganization, receivership or similar law. 

“Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act. The terms “Beneficially Owns,” “Beneficially Owned” and “Beneficial Ownership” have a corresponding meaning. 

“Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on
behalf of such board; 
 (2) with respect to a partnership, the board of directors of the general partner of the partnership;

 (3) with respect to a limited liability company, the managing member or members or any controlling committee of managing
members thereof; and 
 (4) with respect to any other Person, the board or committee of such Person serving a similar
function. 
 “Business Day” means each day other than a Saturday, a Sunday or a day on which banking institutions in New
York City (and, with respect to payments, in the place of payment) are authorized or required by law to remain closed. 
 “Capital
Lease Obligations” means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the
Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 

“Capital Stock” means: 

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

  
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 (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 interests (whether general or limited) or membership interests; 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, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock. 

“Cash Equivalents” means “Cash Equivalents” as defined in the Credit Agreement as in effect on the Issue Date. 

“Change of Control” means the occurrence of any of the following after the Issue Date: 

(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in
one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d) of the Exchange Act), but
excluding any employee benefit plan of the Company or any of its Subsidiaries, or any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan; or 

(2) the Company becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act,
proxy, vote, written notice or otherwise) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as defined above), other than (x) any employee
benefit plan of the Company or any of its Subsidiaries, or any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of such plan and (y) any one or more parents of the Company in which no
“person,” directly or indirectly, holds Beneficial Ownership of Voting Stock representing more than 50.1% of the aggregate voting power represented by the issued and outstanding Voting Stock of such parent, becomes the Beneficial Owner,
directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of shares. 

“Change of Control Trigger Event” means the occurrence of both a Change of Control and a Rating Decline. 

“Clearstream” means Clearstream Banking, société anonyme, Luxembourg, and any successor thereto. 

“Company” means Vistra Operations Company LLC and any and all successors thereto. 

  
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 “Company Order” means a written order signed in the name of the Company by
one Authorized Officer. 
 “Consolidated EBITDA” means “Consolidated EBITDA” as defined in the Credit Agreement
as in effect on the Issue Date. 
 “Consolidated Secured Net Leverage Ratio” means, on any date of determination, the ratio
of (a) Consolidated Senior Secured Net Debt on such date to (b) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that (i) any Person that is a Restricted Subsidiary on such date of
determination will be deemed to have been a Restricted Subsidiary at all times during such four-quarter reference period and (ii) any Person that is not a Restricted Subsidiary on such date of determination will be deemed not to have been a
Restricted Subsidiary at any time during such four-quarter reference period. 
 For purposes of calculating the Consolidated Secured Net
Leverage Ratio, Specified Transactions (and the incurrence or repayment of any Indebtedness in connection therewith) that have been made (i) during the applicable Test Period and (ii) subsequent to such Test Period and prior to or
simultaneously with the event for which the calculation of such ratio is made shall be calculated on a pro forma basis assuming that all such Specified Transactions (and any increase or decrease in Consolidated EBITDA and the component
financial definitions used therein attributable to any Specified Transaction) had occurred on the first day of the applicable Test Period. If since the beginning of any applicable Test Period any Person that subsequently became a Restricted
Subsidiary or was merged, amalgamated or consolidated with or into the Company or any Restricted Subsidiary since the beginning of such Test Period shall have made any Specified Transaction that would have required adjustment pursuant to this
definition, then the Consolidated Secured Net Leverage Ratio shall be calculated to give pro forma effect thereto in accordance with this definition. 

In the event that the Company or any Restricted Subsidiary incurs (including by assumption or guarantees) or repays (including by redemption,
repayment, retirement or extinguishment) any Indebtedness included in the calculation of the Consolidated Secured Net Leverage Ratio (other than Indebtedness incurred or repaid under any revolving credit facility in the ordinary course of business
for working capital purposes), (x) during the applicable Test Period or (y) subsequent to the end of the applicable Test Period and prior to or simultaneously with the event for which the calculation of such ratio is made, then the
Consolidated Secured Net Leverage Ratio shall be calculated giving pro forma effect to such incurrence or repayment of Indebtedness, to the extent required, as if the same had occurred on the last day of the applicable Test Period. 

Whenever pro forma effect is to be given to a Specified Transaction or implementation of an operating initiative, the pro forma
calculations shall be made in good faith by a responsible financial or accounting officer of the Company and include, for the avoidance of doubt, the amount of cost savings, operating expense reductions, other operating improvements and
synergies that are reasonably identifiable, factually supportable and projected by the Company in good faith to be reasonably anticipated to be realizable within 18 months after the closing date of such Specified Transaction or implementation of an
operating initiative (provided, that to the extent any such operational changes are not associated with a transaction, 

  
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such changes shall be limited to those for which all steps have been taken for realizing such savings and are factually supportable, reasonably identifiable and supported by an Officer’s
Certificate delivered to the Trustee) (calculated on a pro forma basis as though such cost savings, operating expense reductions, other operating improvements and synergies had been realized on the first day of such period as if such cost
savings, operating expense reductions, other operating improvements and synergies were realized during the entirety of such period) relating to such Specified Transaction, net of the amount of actual benefits realized during such period from such
actions; provided that any increase in Consolidated EBITDA as a result of cost savings, operating expense reductions, other operating improvements and synergies shall be subject to the limitations set forth in the definition of Consolidated
EBITDA. 
 “Consolidated Senior Secured Net Debt” means, as of any date of determination, (a) the aggregate amount of
Indebtedness of the Company and its Restricted Subsidiaries, consisting only of Indebtedness for borrowed money, obligations in respect of Capital Lease Obligations, Attributable Debt and debt obligations evidenced by promissory notes or similar
instruments, that is secured by a Lien on any asset or property of the Company or any Restricted Subsidiary outstanding on such date, determined on a consolidated basis in accordance with GAAP minus (b) the aggregate amount of cash and Cash
Equivalents of the Company and its Restricted Subsidiaries on a consolidated basis; provided that Consolidated Senior Secured Net Debt shall not include Indebtedness (i) in respect of (x) any cash collateralized letter of credit, or
(y) any other letter of credit, except to the extent of unreimbursed amounts drawn thereunder, (ii) of Excluded Subsidiaries (but, for the avoidance of doubt, not secured guarantees of such Indebtedness by the Company or the Subsidiary
Guarantors) or (iii) in respect of Hedging Obligations. 
 “Corporate Trust Office of the Trustee” will be at the
address of the Trustee specified in Section 12.01 hereof or such other address as to which the Trustee may give notice to the Company. 

“Credit Agreement” means the Credit Agreement entered into on October 3, 2016, among the Company, various lenders party
thereto, Credit Suisse AG, Cayman Islands Branch (as successor to Deutsche Bank AG New York Branch), as administrative agent and as collateral agent, as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from
time to time. 
 “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any successor
entity thereto. 
 “Default” means any event, act or condition which with notice or lapse of time, or both, would (without
cure or waiver hereunder) constitute an Event of Default. 
 “Definitive Note” means a certificated Note registered in the
name of the Holder thereof and issued in accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the
“Schedule of Exchanges of Interests in the Global Note” attached thereto. 
 “Depository” means DTC, its
nominees and their respective successors. 

  
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 “Derivative Instrument”, with respect to a Person, means any contract,
instrument or other right to receive payment or delivery of cash or other assets to which such Person or any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in the Notes (other
than a Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the Notes and/or
the creditworthiness of the Company (the “Performance References”). 
 “Disqualified Stock” means any Capital
Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. 

“Distribution Compliance Period” means the 40-day distribution compliance period as
defined in Regulation S. 
 “Domestic Subsidiary” means any Subsidiary of the Company that was incorporated or organized
under the laws of the United States, any state thereof, the District of Columbia or any territory thereof. 
 “DTC” means
The Depository Trust Company. 
 “Eligible Subsidiaries” means the Wholly Owned Domestic Subsidiaries and Vistra Preferred
Inc. and each of its Wholly Owned Domestic Subsidiaries. 
 “Environmental CapEx Debt” means Indebtedness of the Company or
its Subsidiaries incurred for the purpose of financing capital expenditures deemed necessary by the Company or its Subsidiaries to comply with Environmental Laws. 

“Environmental Law” means any applicable federal, state, foreign or local statute, law, rule, regulation, ordinance, code and
rule of common law now or hereafter in effect and in each case as amended, and any binding judicial or administrative interpretation thereof, including without limitation any binding judicial or administrative order, consent decree or judgment,
relating to the environment, human health or safety (as such relates to exposure to Hazardous Materials) or Hazardous Materials. 

“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). 
 “Equity Offering” means any public or
private sale of (1) Capital Stock of the Company (other than Disqualified Stock and other than to a Subsidiary of the Company) or (2) Capital Stock of a direct or indirect parent entity of the Company (other than to the Company or a
Subsidiary of the Company) to the extent that the net cash proceeds therefrom are contributed to the common equity capital of the Company. 

  
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 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear
System, and any successor thereto. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Excluded Subsidiary” means “Excluded Subsidiary” as defined in the Credit Agreement as in effect on the Issue
Date. 
 “Fitch” means Fitch Ratings, Inc. or any of its successors or assigns that is a Nationally Recognized Statistical
Rating Organization. 
 “Foreign Subsidiary” of any Person means any Subsidiary of such Person that is not a Domestic
Subsidiary. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of the accounting profession, which are in effect from time to time; provided, however, that if any operating lease would be recharacterized as a capital lease due to changes in the accounting treatment of such
operating lease under GAAP since the Issue Date, then solely with respect to the accounting treatment of any such leases, GAAP shall be interpreted as it was in effect on the Issue Date. 

“Global Note Legend” means the legend set forth in Section 2.06(f)(2), which is required to be
placed on all Global Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, each of the
Global Notes substantially in the form of Exhibit A hereto issued in accordance with Section 2.01 hereof. 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America (including
any agency or instrumentality thereof) for the payment of which obligations or guarantees the full faith and credit of the United States of America is pledged and which are not callable or redeemable at the issuer’s option. 

“Governmental Authority” means any nation, sovereign or government, any state, province, territory or other political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity or authority exercising executive, legislative, judicial, taxing, regulatory or administrative functions of
or pertaining to government, including a central bank, or a stock exchange, and including the Public Utility Commission of Texas or the Electric Reliability Council of Texas, or any other entity succeeding thereto. 

“Hazardous Materials” means (a) any petroleum or petroleum products, radioactive materials, friable asbestos, urea
formaldehyde foam insulation, transformers or other equipment that contain dielectric fluid containing regulated levels of polychlorinated biphenyls and radon gas; (b) any chemicals, materials or substances defined as or included in the
definition of “hazardous substances,” “hazardous waste,” “hazardous materials,” “extremely hazardous 

  
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waste,” “restricted hazardous waste,” “toxic substances,” “toxic pollutants,” “contaminants,” or “pollutants” or words of similar import,
under any applicable Environmental Law; and (c) any other chemical, material or substance, which is prohibited, limited or regulated by any Environmental Law. 

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

(a) 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 
 (b) (i) agreements or arrangements designed
to protect such Person against fluctuations in currency exchange, interest rates, commodity prices or commodity transportation or transmission pricing or availability; (ii) any netting arrangements, power purchase and sale agreements, fuel
purchase and sale agreements, swaps, options and other agreements, in each case, that fluctuate in value with fluctuations in energy, power or gas prices; and (iii) agreements or arrangements for commercial or trading activities with respect to
the purchase, transmission, distribution, sale, lease or hedge of any energy related commodity or service. 
 “Holder”
means the Person in whose name a Note is registered on the Registrar’s books. 
 “Indebtedness” means, with respect to
any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables, except as provided in clause (e) below), whether or not contingent: 

(a) in respect of borrowed money; 

(b) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect
thereof); 
 (c) in respect of banker’s acceptances; 

(d) representing Capital Lease Obligations or Attributable Debt in respect of sale and leaseback transactions; 

(e) representing the balance deferred and unpaid of the purchase price of any property (including trade payables) or services
due more than six months after such property is acquired or such services are completed; or 
 (f) representing the net
amount owing under any Hedging Obligations; 
 if and to the extent any of the preceding items (other than letters of credit, Attributable Debt and Hedging
Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the
specified Person (whether or not 

  
 -9- 

 
such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the guarantee by the specified Person of any Indebtedness of any other Person; provided,
that the amount of such Indebtedness shall be deemed not to exceed the lesser of the amount secured by such Lien and the value of the Person’s property securing such Lien. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 

“Initial Notes” means the $1,250,000,000 aggregate principal amount of Notes issued under this Indenture on the Issue Date.

 “Investment” means, with respect to any Person, an investment by such Person in other Persons (including Affiliates) in
the forms of loans (including guarantees or other obligations), advances or capital contributions (excluding commission, travel and similar advances to officers and employees), purchases or other acquisitions for consideration of Indebtedness,
Equity Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. 

“Investment Grade” in respect of the Notes means a rating of: (a) Baa3 or better by Moody’s; (b) BBB- or better by Fitch; or (c) BBB- or better from S&P (or the equivalent of such rating by such rating organization or, if no rating of Moody’s, Fitch
or S&P exists, the equivalent of such rating by any other Nationally Recognized Statistical Rating Organization selected by the Company as a replacement agency). 

“Issue Date” means May 10, 2021. 

“Lien” means, with respect to any asset, any mortgage, pledge, security interest, hypothecation, collateral assignment, lien
(statutory or other) or similar encumbrance (including any conditional sale or other title retention agreement or any lease or license in the nature thereof); provided that in no event shall an operating lease be deemed to be a Lien. 

“Long Derivative Instrument” means a Derivative Instrument (i) the value of which generally increases, and/or the
payment or delivery obligations under which generally decrease, with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or the payment or delivery obligations under which generally increase,
with negative changes to the Performance References. 
 “Moody’s” means Moody’s Investors Service, Inc. or any of
its successors or assigns that is a Nationally Recognized Statistical Rating Organization. 
 “Nationally Recognized Statistical
Rating Organization” means a nationally recognized statistical rating organization within the meaning of Section 3(a)(62) under the Exchange Act. 

“Necessary Capital Expenditures” means capital expenditures that are required by Applicable Law (other than Environmental
Laws) or undertaken for health and safety reasons or to prevent catastrophic failure of a unit. The term “Necessary Capital Expenditures” does not include any capital expenditure undertaken primarily to increase the efficiency of, expand
or re-power any power generation facility. 

  
 -10- 

 “Net Short” means, with respect to a Holder or Beneficial Owner, as of a
date of determination, either (i) the value of its Short Derivative Instruments exceeds the sum of the (x) the value of its Notes plus (y) the value of its Long Derivative Instruments as of such date of determination or (ii) it
is reasonably expected that such would have been the case were a Failure to Pay or Bankruptcy Credit Event (each as defined in the 2014 ISDA Credit Derivatives Definitions) to have occurred with respect to the Company or any Guarantor immediately
prior to such date of determination. 
 “Notes” has the meaning assigned to it in the preamble to this Indenture. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing any Indebtedness. 
 “Officer” means, with respect to any Person, the Chairman of
the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, Assistant Secretary or any Vice-President of such Person. 

“Officer’s Certificate” means a certificate signed on behalf of the Company by an Authorized Officer that meets the
requirements set forth in this Indenture. 
 “Offering Memorandum” means the Offering Memorandum, dated May 5, 2021,
related to the issuance and sale of the Initial Notes. 
 “Opinion of Counsel” means an opinion from legal counsel who is
reasonably acceptable to the Trustee, that meets the requirements of Section 12.03 herein. The counsel may be an employee of or counsel to the Company, any Subsidiary of the Company or the Trustee. 

“Participant” means, with respect to the Depository, Euroclear or Clearstream, a Person who has an account with the
Depository, Euroclear or Clearstream, respectively, and, with respect to DTC, shall include Euroclear and Clearstream. 
 “Paying
Agent” means the office or agency where Notes may be presented for payment. The term “Paying Agent” includes any additional paying agent. 

“Permitted Liens” means: 

(1) Liens in favor of the Company or any Subsidiary Guarantor; 

(2) Liens created for the benefit of or to secure the Notes or the Subsidiary Guarantees; 

(3) Liens on property, assets or Capital Stock of a Person existing at the time such Person is merged with or into or
consolidated with, or becomes a Subsidiary of, the 

  
 -11- 

 
Company or any Subsidiary of the Company; provided that such Liens were not incurred in contemplation of such merger or consolidation and do not extend to any property or assets or Capital
Stock other than property, assets or Capital Stock of the Person merged into or consolidated with, or that becomes a Subsidiary of, the Company or the Subsidiary; 

(4) Liens on property, assets or Capital Stock existing at the time of acquisition thereof by the Company or any of its
Subsidiaries and purchase money or similar Liens; provided that such Liens were in existence (or were required to extend to such assets, including by way of an after-acquired property provision) prior to, and not incurred in contemplation of,
or to finance, such acquisition, and such Liens do not extend to any property or assets other than such property or assets; 

(5) (a) Liens to secure any purchase money obligations or mortgage financings incurred for the purpose of financing or
refinancing all or any part of the purchase price or cost of design, construction, lease, installation or improvement of property (real or personal), plant or equipment or other assets, or the Capital Stock of any Person owning such property or
assets, or to secure Indebtedness incurred to provide funds for the reimbursement or refinancing of funds expended for the foregoing purposes, provided that the Liens securing Indebtedness shall not extend to any property or assets other than
that being so acquired, leased, developed, constructed, altered, repaired, improved, purchased, designed, leased or installed, or the Capital Stock of any Person owning such property or assets, and (b) any interest or title of a lessor under,
or any Lien as a consequence of, any Capital Lease Obligation, finance lease obligation or operating lease obligation (including, for the avoidance of doubt, any interest or title of a lessor in any property or assets); 

(6) Liens existing on, or provided for or required to be granted under written agreements on, the Issue Date (other than under
the Credit Agreement); 
 (7) Liens arising in relation to any securitization or other structured finance transaction where
(a) the primary source of payment of any obligations of the issuer is linked or otherwise related to cash flow from particular property or assets (or where payment of such obligations is otherwise supported by such property or assets) and
(b) recourse to the issuer in respect of such obligations is conditional on cash flow from such property or assets; 

(8) any extensions, substitutions, replacements or renewals of Liens permitted by this Indenture; provided that
(a) such Indebtedness (including Indebtedness to renew, refund, refinance, replace, defease or discharge any Indebtedness that such Liens initially secured) is not increased (other than any increase for all accrued interest, premiums (including
tender premiums), defeasance costs and fees and expenses in connection therewith) and (b) if the assets securing any such Indebtedness are changed in connection with any such extension, substitution, replacement or renewal, the value of the
assets securing such Indebtedness is not increased; 

  
 -12- 

 (9) limited recourse Liens in respect of the ownership interests in, or
assets owned by, any joint ventures which are not Subsidiaries securing obligations of such joint ventures, and Liens on Capital Stock of any Unrestricted Subsidiary that secure Indebtedness of such Unrestricted Subsidiary; 

(10) Liens to secure Indebtedness or other obligations incurred to finance Necessary Capital Expenditures that encumber only
the assets purchased, installed or otherwise acquired with the proceeds of such Indebtedness; 
 (11) Liens to secure
Environmental CapEx Debt that encumber only the assets purchased, installed or otherwise acquired with the proceeds of such Environmental CapEx Debt; and 

(12) Liens securing Indebtedness in an aggregate principal amount not to exceed the greatest of (a) $12.5 billion, (b) 40%
of Total Assets (determined at the time of incurrence of such Indebtedness and without giving effect to subsequent changes) and (c) such amount as would not cause the Consolidated Secured Net Leverage Ratio on the date of incurrence of such
Indebtedness to exceed 4.0 to 1.0. 
 For purposes of determining compliance with Section 4.05 and this definition
of Permitted Liens, in the event that a Lien meets the criteria of more than one of the categories of Permitted Liens described above in clauses (1) through (12), the Company, in its sole discretion, (a) will be permitted to classify such
Lien on the date of incurrence and may later reclassify such Lien in any manner (based on the circumstances existing at the time of any such reclassification), (b) may divide and later redivide the amount of such Lien among more than one of such
clauses and (c) will only be required to include such Lien in one of any such clauses. 
 “Person” means any
individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 

“Principal Property” means any building, structure or other facility (together with the land on which it is erected and
fixtures comprising a part thereof) used primarily for manufacturing, processing, research, warehousing or distribution owned by the Company or any of its Subsidiaries, in each case located within the United States, that has a book value on the date
of which the determination is being made, without deduction of any depreciation reserves, exceeding 2% of Total Assets, other than any such facility (or portion thereof) that the Company reasonably determines is not material to the business of the
Company and its Subsidiaries taken as a whole. 
 “Private Placement Legend” means the legend set forth in
Section 2.06(f)(1)(A) hereof to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Qualifying Equity Interests” means Equity Interests of the Company other than Disqualified Stock. 

  
 -13- 

 “Rating Agencies” means (1) Moody’s, (2) Fitch, (3) S&P
and (4) if any of Moody’s, Fitch or S&P shall not make a rating of the Notes available, a Nationally Recognized Statistical Rating Organization selected by the Company which shall be substituted for Moody’s, Fitch or S&P, as
the case may be. 
 “Rating Date” means the earlier of (1) the consummation of a Change of Control, and
(2) public announcement of the occurrence of a Change of Control or of the intention of the Company to effect a Change of Control. 

“Rating Decline” means the decrease in the rating of the Notes by two or more Rating Agencies by one or more gradations
(including gradations within rating categories as well as between rating categories) from its rating on the Rating Date, or the withdrawal of a rating of the Notes by two or more Rating Agencies, in each case on, or within 60 days after, the Rating
Date (which period shall be extended so long as the rating of the Notes is under publicly announced consideration by any of the Rating Agencies); provided that such Rating Agencies have confirmed that such decrease in or withdrawal of rating
is a result of the Change of Control, and provided further, that no Rating Decline shall occur if, following such decrease in rating, (x) the Notes are rated Investment Grade by at least two Rating Agencies or (y) the ratings of the
Notes by at least two Rating Agencies are equal to or better than their respective ratings on the Issue Date. 
 If no Rating Agency
announces an action with regard to its rating of the Notes after the occurrence of a Change of Control, the Company shall request each Rating Agency to confirm its rating of the Notes before the end of such
60-day period. 
 “Registrar” means the office or agency where Notes may be
presented for registration of transfer or for exchange. The term “Registrar” includes any co-registrar. 

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

“Regulation S Global Note” means a Regulation S Permanent Global Note or Regulation S Temporary
Global Note, as appropriate. 
 “Regulation S Permanent Global Note” means a permanent Global Note in the form of Exhibit A
hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depository or its nominee that will be issued in a denomination equal to the outstanding principal amount
of the Regulation S Temporary Global Note upon expiration of the Distribution Compliance Period. 
 “Regulation S Temporary Global
Note” means a temporary Global Note in the form of Exhibit A hereto bearing the Global Note Legend, the Private Placement Legend and Regulation S Temporary Global Note Legend and deposited with or on behalf of, and registered in the name
of, the Depository or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes sold for initial resale in reliance on Rule 903 of Regulation S. 

“Regulation S Temporary Global Note Legend” means the legend set forth in Section 2.06(f)(3) to be
placed on all Regulation S Temporary Global Notes issued under this Indenture. 

  
 -14- 

 “Responsible Officer” means (i) when used with respect to the Trustee,
any vice president, assistant vice president, any assistant secretary, any assistant treasurer, any associate or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers, in
each case, who at such time shall have direct responsibility for the administration of this Indenture and, with respect to a particular matter, any other officer of the Trustee to whom such matter is referred because of such officer’s knowledge
of and familiarity with the particular subject, and (ii) when used with respect to any other Person, the chief executive officer, chief financial officer, treasurer or general counsel of such person. 

“Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend. 

“Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

“Restricted Subsidiary” means “Restricted Subsidiary” as defined in the Credit Agreement as in effect on the Issue
Date. 
 “Rule 144” means Rule 144 adopted by the SEC under the Securities Act. 

“Rule 144A” means Rule 144A adopted by the SEC under the Securities Act. 

“S&P” means S&P Global Ratings (a division of S&P Global, Inc.) or any of its successors or assigns that is a
Nationally Recognized Statistical Rating Organization. 
 “Screened Affiliate” means any Affiliate of a Holder
(i) that makes investment decisions independently from such Holder and any other Affiliate of such Holder that is not a Screened Affiliate, (ii) that has in place customary information screens between it and such Holder and any other
Affiliate of such Holder that is not a Screened Affiliate and such screens prohibit the sharing of information with respect to the Company or their Subsidiaries, (iii) whose investment policies are not directed by such Holder or any other
Affiliate of such Holder that is acting in concert with such Holder in connection with its investment in the Notes, and (iv) whose investment decisions are not influenced by the investment decisions of such Holder or any other Affiliate of such
Holder that is acting in concert with such Holder in connection with its investment in the Notes. 
 “SEC” means the United
States Securities and Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Short Derivative Instrument” means a Derivative Instrument (i) the value of which generally decreases, and/or the
payment or delivery obligations under which generally increase, with positive changes to the Performance References and/or (ii) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease,
with negative changes to the Performance References. 

  
 -15- 

 “Significant Subsidiary” means any Subsidiary that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is
in effect on November 15, 2019. 
 “Specified Transaction” means any incurrence or repayment of Indebtedness (other
than for working capital purposes) or any Investment that results in a Person becoming a Subsidiary of the Company, any acquisition permitted under this Indenture, any Asset Disposition that results in a Restricted Subsidiary ceasing to be a
Subsidiary of the Company, any Investment constituting an acquisition of assets constituting a business unit, line of business or division of another Person, or any asset sale of a business unit, line of business or division of the Company or a
Restricted Subsidiary, in each case whether by merger, consolidation, amalgamation or otherwise. 
 “Stated Maturity”
means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest or principal is scheduled to be paid in the documentation governing such Indebtedness, and will not include any
contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 

“Subsidiary” means, with respect to any specified Person: 

(1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital
Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees
of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary
of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 

“Subsidiary Guarantee” means the guarantee by each Subsidiary Guarantor of the Company’s obligations under this
Indenture and the Notes, executed pursuant to the provisions of this Indenture. 
 “Subsidiary Guarantor” means any of the
Company’s current and future Eligible Subsidiaries that guarantees the Notes pursuant to the provisions of this Indenture, in each case, until the Subsidiary Guarantee of such Person has been released in accordance with the provisions of this
Indenture. 
 “Test Period” means “Test Period” as defined in the Credit Agreement as in effect on the Issue
Date. 
 “TIA” means the Trust Indenture Act of 1939, as amended, (15 U.S.C. §§ 77aaa-77bbbb). 

  
 -16- 

 “Total Assets” means, as of any date of determination, the total
consolidated assets of the Company and its Subsidiaries, determined in accordance with GAAP, as shown on the most recent publicly available balance sheet of the Company, and after giving pro forma effect to any acquisition or disposal of any
property or assets consummated after the date of the applicable balance sheet and on or prior to the date of determination. 

“Treasury Rate” means, as of any 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 the redemption date (or, if such Statistical
Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to May 1, 2024; provided, however, that if the period from the redemption date to
May 1, 2024 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. 

“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 such successor Trustee. 

“Unrestricted Definitive Note” means a Definitive Note that does not bear and is not required to bear the Private Placement
Legend. 
 “Unrestricted Global Note” means a Global Note that does not bear and is not required to bear the Private
Placement Legend. 
 “Unrestricted Subsidiary” means “Unrestricted Subsidiary” as defined in the Credit Agreement
as in effect on the Issue Date. 
 “Vistra Corp.” means Vistra Corp., a Delaware corporation. 

“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. 
 “Wholly Owned Domestic Subsidiary” means, as to any Person, any
Wholly Owned Subsidiary of such Person which is a Domestic Subsidiary. 
 “Wholly Owned Subsidiary” means, as to any
Person, (i) any corporation 100% of whose Capital Stock is at the time owned by such Person and/or one or more Wholly Owned Subsidiaries of such Person and (ii) any partnership, limited liability company, association, joint venture or
other entity in which such Person and/or one or more Wholly Owned Subsidiaries of such Person has a 100% equity interest at such time (other than, in the case of a Foreign Subsidiary of the Company with respect to the preceding clauses (i) and
(ii), director’s qualifying shares and/or other nominal amount of shares required to be held by Persons other than the Company and its Subsidiaries under Applicable Law). 

  
 -17- 

 Section 1.02 Other Definitions. 

 

			
	 Term
	  	 Defined in
Section

	“Change of Control Offer”	  	Section 4.06(a)
	“Change of Control Payment”	  	Section 4.06(a)
	“Change of Control Payment Date”	  	Section 4.06(a)(2)
	“Covenant Defeasance”	  	Section 8.03
	“Covenant Failure Officer’s Certificate”	  	Section 6.09(b)
	“Covenant Satisfaction Officer’s Certificate”	  	Section 6.09(b)
	“Default Direction”	  	Section 6.09(a)
	“Directing Holder”	  	Section 6.09(a)
	“Event of Default”	  	Section 6.01
	“Final Decision”	  	Section 6.09(b)
	“Legal Defeasance”	  	Section 8.02
	“Litigation”	  	Section 6.09(b)
	“Noteholder Direction”	  	Section 6.09(a)
	“Payment Default”	  	Section 6.01
	“Position Representation”	  	Section 6.09(a)
	“Successor Company”	  	Section 5.01(a)(1)(B)
	“Verification Covenant”	  	Section 6.09(a)
	“Verification Covenant Officer’s Certificate”	  	Section 6.09(b)

 Section 1.03 Rules of Construction. 

Unless the context otherwise requires: 

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

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

(3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) “will” shall be interpreted to express a command; 

(6) provisions apply to successive events and transactions; and 

(7) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time. 

  
 -18- 

 ARTICLE 2 

THE NOTES 
 Section 2.01 Form and
Dating. 
 (a) General. The Notes shall be issued in registered global form (except as otherwise permitted herein with respect to
Definitive Notes) without interest coupons. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock
exchange rule or usage. The Company shall furnish any such notations, legends or endorsements to the Trustee in writing. Each Note shall be dated the date of its authentication. The Notes shall be in minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof. 
 The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a
part of this Indenture and the Company, the Subsidiary Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of the
Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 (b)
Global Notes. 
 (1) Notes issued in global form shall be substantially in the form of Exhibit A attached hereto
(including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form shall be substantially in the form of Exhibit A attached hereto (but
without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note shall represent such of the outstanding Notes as will be specified therein and each
shall provide that it represents the aggregate principal amount of outstanding Notes from time to time as reflected in the records of the Trustee and that the aggregate principal amount of outstanding Notes represented thereby may from time to time
be reduced or increased, as appropriate, to reflect exchanges and redemptions. The Trustee’s records shall be noted to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby, in
accordance with instructions given by the Holder thereof as required by Section 2.06 hereof. 
 (2)
Notes sold within the United States of America to QIBs pursuant to Rule 144A under the Securities Act shall be issued initially in the form of one or more 144A Global Notes, which shall be deposited with the Custodian for DTC and registered in the
name of Cede & Co., the nominee of DTC, duly executed by the Company and authenticated by the Trustee or the authenticating agent as provided herein. The aggregate principal amount of the 144A Global Notes may from time to time be increased
or decreased by adjustments made on the records of the Trustee and the Depository or its nominee, as the case may be, in connection with transfers of interests as hereinafter provided. 

  
 -19- 

 (3) Notes offered and sold in reliance on Regulation S shall be issued
initially in the form of one or more Regulation S Temporary Global Notes, which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Registrar and Custodian for DTC and registered in the name of Cede &
Co., the nominee of DTC, duly executed by the Company and authenticated by the Trustee as hereinafter provided. In no event shall any Person hold an interest in a Regulation S Temporary Global Note other than directly or indirectly in or through
accounts maintained at Euroclear or Clearstream as indirect participants in DTC. Prior to the termination of the Distribution Compliance Period, an interest in a Regulation S Temporary Global Note may not be transferred to or for the account or
benefit of a “U.S. Person” (as defined in Rule 902(k) of Regulation S) (other than a “distributor” (as defined in Rule 902(d) of Regulation S)). 

(4) Following the termination of the Distribution Compliance Period, beneficial interests in the Regulation S Temporary Global
Note shall be exchanged for beneficial interests in the Regulation S Permanent Global Note pursuant to the Applicable Procedures. Simultaneously with the authentication of the Regulation S Permanent Global Note, the Trustee shall, upon receipt of a
Company Order, cancel the Regulation S Temporary Global Note. The aggregate principal amount of the Regulation S Temporary Global Notes and the Regulation S Permanent Global Notes may from time to time be increased or decreased by adjustments made
on the records of the Trustee and the Depository or its nominee, as the case may be, in connection with transfers of interests as hereinafter provided. 

(c) Book-Entry Provisions. Ownership of beneficial interests in the Global Notes shall be limited to persons that have accounts with
DTC or persons that may hold interests through such participants, including through Euroclear and Clearstream. Ownership of beneficial interests in the Global Notes and transfers thereof shall be subject to restrictions on transfer and certification
requirements as set forth herein. Participants and Indirect Participants shall have no rights under this Indenture or any Global Note with respect to any Global Note held on their behalf by the Depository or by the Trustee as custodian for the
Depository, and the Depository shall be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall
prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Participants or
Indirect Participants, the Applicable Procedures or the operation of customary practices of the Depository governing the exercise of the rights of a holder of a beneficial interest in any Global Note. 

(d) DTC, Euroclear and Clearstream Procedures Applicable. Transfers of beneficial interests in the Global Notes between participants in
DTC, participants in Euroclear or participants in Clearstream shall be effected by DTC, Euroclear or Clearstream pursuant to customary procedures and subject to the applicable rules and procedures established by DTC, Euroclear or Clearstream and
their respective participants. 

  
 -20- 

 Section 2.02 Execution and Authentication. 

One Officer must sign the Notes for the Company by manual, facsimile, electronic or .pdf signature. 

If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless be
valid. 
 A Note will not be valid until authenticated by the manual signature of the Trustee. The signature will be conclusive evidence
that the Note has been authenticated under this Indenture. A Note shall be dated the date of its authentication. 
 The Trustee shall, upon
receipt of a Company Order, authenticate Notes for original issue under this Indenture, including any Additional Notes issued pursuant to Section 2.07 hereof. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders, the Company or an Affiliate
of the Company. 
 Section 2.03 Registrar and Paying Agent. 

(a) The Company will maintain a Registrar and a Paying Agent. The Registrar will keep a register of the Holders and the Notes and of their
transfer and exchange. The Company may appoint one or more co-registrars and one or more additional Paying Agents and may change any Paying Agent or Registrar without notice to any Holder. The Company will
notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. The Company or any of the Company’s Subsidiaries may act as Paying Agent or Registrar. 

(b) The Company initially appoints DTC to act as Depository with respect to the Global Notes. 

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

Section 2.04 Paying Agent to Hold Money in Trust. 

The Company will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent (i) will hold in trust for
the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium or interest on the Notes and (ii) will notify the Trustee in writing of any default by the Company in making any such payment. While
any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Company or a Subsidiary of the Company) will have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it will segregate

  
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and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee will
serve as Paying Agent for the Notes. 
 Section 2.05 Holder Lists. 

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

(a) Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole except by the Depository to a nominee of the
Depository, by a nominee of the Depository to the Depository or to another nominee of the Depository, or by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. The Company shall exchange Global
Notes for Definitive Notes if at any time: 
 (1) the Company delivers to the Trustee notice from the Depository that it is
unwilling or unable to continue to act as Depository or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depository is not appointed by the Company within 90 days after the date of such
notice from the Depository; 
 (2) the Company in its sole discretion determines that the Global Notes (in whole but not in
part) should be exchanged for Definitive Notes and delivers an Officer’s Certificate to such effect to the Trustee; or 

(3) upon the written request of a Holder if a Default or Event of Default shall have occurred and be continuing with respect to
the Notes. 
 Upon the occurrence of any of the preceding events in (1), (2) or (3) above, Definitive Notes shall be issued in such
names and in any approved denominations as the Depository shall instruct the Trustee. 
 In no event shall the Regulation S Temporary Global
Note be exchanged by the Company for Definitive Notes prior to (x) the expiration of the Distribution Compliance Period and (y) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the
Securities Act. 
 Upon the exchange of a Global Note for Definitive Notes, such Global Note shall, upon receipt of a Company Order, be
cancelled by the Trustee. Definitive Notes issued in exchange for a Global Note pursuant to this Section 2.06 shall be registered in such names and in such authorized denominations as the Depository, pursuant to written
instructions from its Participants or its Applicable Procedures, shall instruct the Trustee in writing. The Trustee shall deliver such Definitive Notes to or as directed by the Persons in whose names such Definitive Notes are so registered or to the
Depository. 

  
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 A Global Note may not be exchanged for another Note other than as provided in this
Section 2.06(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) and (d) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global
Notes shall be effected through the Depository, in accordance with the provisions of this Indenture and the Applicable Procedures. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (1)
or (2) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (1)
Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in
accordance with the transfer restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Distribution Compliance Period, transfers of beneficial interests in the Regulation S Temporary
Global Note may not be made to or for the account or benefit of a “U.S. Person” (as defined in Rule 902(k) of Regulation S) (other than a “distributor” (as defined in Rule 902(d) of Regulation S)). Beneficial interests in any
Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the
transfers described in this Section 2.06(b)(1). 
 (2) All Other Transfers and Exchanges of
Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to
the Registrar either: 
 (A) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depository in accordance with the Applicable
Procedures directing the Depository to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account
to be credited with such increase; or 
 (B) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depository in accordance with the Applicable
Procedures directing the Depository to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

  
 -23- 

 (ii) instructions given by the Depository to the Registrar containing
information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (i) above; provided that in no event shall Definitive Notes be issued upon the transfer or exchange
of beneficial interests in the Regulation S Temporary Global Note prior to (x) the expiration of the Distribution Compliance Period and (y) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under
the Securities Act. 
 Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes
contained in this Indenture and the Notes or otherwise applicable under the Securities Act, and upon receipt of an Officer’s Certificate in form reasonably satisfactory to the Trustee, the Trustee shall adjust the principal amount of the
relevant Global Note(s) pursuant to Section 2.06(g) hereof. 
 (3) Transfer of Beneficial
Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer
complies with the requirements of Section 2.06(b)(2) above and the Registrar receives the following: 

(A) if the transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and 
 (B)
if the transferee will take delivery in the form of a beneficial interest in the Regulation S Temporary Global Note or the Regulation S Permanent Global Note, as the case may be, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications in item (2) thereof. 
 (4) Transfer and Exchange of Beneficial
Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any Holder thereof for a beneficial interest in an Unrestricted Global Note or
transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(b)(2) above and: 

(A) the Registrar receives the following: 

(i) if the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

  
 -24- 

 (ii) if the Holder of such beneficial interest in a Restricted Global Note
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 Note, a certificate from such Holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (A), if the Registrar so requests or
if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar 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 Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such
transfer is effected pursuant to subparagraph (A) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of a Company Order in accordance with Section 2.02
hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph (A) above. 

Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form
of, a beneficial interest in a Restricted Global Note. 
 (c) Transfer or Exchange of Beneficial Interests in Global Notes for Definitive
Notes. Transfers or exchanges of beneficial interests in Global Notes for Definitive Notes shall in each case be subject to the satisfaction of any applicable conditions set forth in Section 2.06(b)(2) hereof, and to
the requirements set forth below in this Section 2.06(c). 
 (1) Beneficial Interests in
Restricted Global Notes to Restricted Definitive Notes. If any Holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to
a Person who takes delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of the following documentation: 

(A) if the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
Restricted Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 

(B) if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect
set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such beneficial interest
is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 of Regulation S, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (2) thereof; 

  
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 (D) if such beneficial interest is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; 
 (F) if such beneficial interest
is being transferred pursuant to an effective registration statement under the Securities Act in compliance with the prospectus delivery requirements of the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(c) thereof; or 
 (G) if such beneficial interest is being transferred pursuant to an
exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, or Rule 903 or Rule 904 of Regulation S, a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (3)(d) thereof; 
 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 2.06(g) hereof, and the Company shall execute and, upon receipt of a Company Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and
deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this
Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the Holder of such beneficial interest shall instruct the Registrar through instructions from the Depository
and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note
pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 

(2) Beneficial Interests in Regulation S Temporary Global Notes to Definitive Notes. Notwithstanding
Sections 2.06(c)(1)(A) and (C), a beneficial interest in the Regulation S Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a
Definitive Note prior to (x) the expiration of the Distribution Compliance Period and (y) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a
transfer pursuant to an exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904. 

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

(i) if the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for an
Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(ii) if the Holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item ((d)) thereof; 

and, in each such case set forth in this subparagraph (A), if the Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar 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 Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 
 The Trustee shall cause the aggregate principal
amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Company shall execute and, upon receipt of a Company Order in accordance with Section 2.02
hereof, the Trustee shall authenticate and deliver to the Person designated in the Company Order a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note
pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the Depositary shall instruct, pursuant to written instruction from its Participants or its
Applicable Procedures. The Trustee shall deliver such Definitive Notes to, or as directed by, the Persons in whose names such Definitive Notes are so registered. 

(4) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any Holder of a beneficial
interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then the Trustee shall cause
the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Company shall execute and, upon receipt of a Company Order in accordance with
Section 2.02 hereof, the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in

  
 -27- 

 
exchange for a beneficial interest pursuant to this Section 2.06(c)(4) shall be registered in such name or names and in such authorized denomination or denominations as
the Holder of such beneficial interest requests through instructions to the Registrar from or through the Depository and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such
Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(4) will not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests in Global Notes. 

(1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Definitive
Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 

(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such Restricted
Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 of Regulation S, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item (2) thereof; 
 (D) if such Restricted Definitive Note is
being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a)
thereof; 
 (E) if such Restricted Definitive Note is being transferred to the Company or any of its Subsidiaries, a
certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; 

(F) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act
in compliance with the prospectus delivery requirements of the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof; or 

(G) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act other than 

  
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Rule 144A, Rule 144, or Rule 903 or Rule 904 of Regulation S, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(d)
thereof; 
 the Trustee, upon receipt of a Company Order, shall cancel the Restricted Definitive Note, and increase or cause to be increased
in a corresponding amount pursuant to Section 2.06(g) the aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global Note, in the case of clause (B) above, a 144A Global
Note, and, in the case of clause (C) above, a Regulation S Global Note. 
 (2) Restricted Definitive Notes to
Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if: 
 (A) the Registrar receives
the following: 
 (i) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for a beneficial
interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

(ii) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery
thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item ((d)) thereof; 

and, in each such case set forth in this subparagraph (A), if the Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar 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 Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the conditions of any of the subparagraphs
in this Section 2.06(d)(2), the Trustee, upon receipt of a Company Order, will cancel the Restricted Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note.

 (3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.
Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. 

  
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 (4) Unrestricted Definitive Notes to Beneficial Interests in Restricted
Global Notes Prohibited. An Unrestricted Definitive Note may not be exchanged for, or transferred to Persons who take delivery thereof in the form of, beneficial interests in a Restricted Global Note. 

If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraphs (2)(A) or
(3) above at a time when an Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt of a Company Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or
more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 
 (e)
Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar shall register
the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Definitive Notes 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 must provide any additional certifications, documents and information, as applicable, required
pursuant to the following provisions of this Section 2.06(e). 
 (1) Restricted Definitive Notes
to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications in item (1) thereof; 
 (B) if the transfer will be made pursuant to
Rule 903 or Rule 904 of Regulation S, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C) if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then
the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

(2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the
Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if: 

  
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 (A) the Registrar receives the following: 

(i) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a
certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(ii) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery
thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (A), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to
the Registrar 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 Private Placement Legend are no longer required in order to maintain compliance
with the Securities Act. 
 Upon satisfaction of the conditions of any of the clauses of this
Section 2.06(e), the Trustee shall, upon receipt of a Company Order, cancel the prior Restricted Definitive Note and the Company will execute, and upon receipt of a Company Order in accordance with
Section 2.02, the Trustee shall authenticate and deliver an Unrestricted Definitive Note in the appropriate aggregate principal amount to the Person designated by the Holder of such prior Restricted Definitive Note in
written instructions delivered to the Registrar by such Holder. 
 (3) Unrestricted Definitive Notes to Unrestricted
Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall
register the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 
 (f) Legends. The following
legends will appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 

(1) Private Placement Legend. 

(A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in
exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 
 “THE NOTES
EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) (1) IN A

  
 -31- 

 
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT (FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE UNDER RULE 144A UNDER THE SECURITIES ACT) TO A PERSON WHO
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER AND TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A UNDER THE SECURITIES ACT, (2) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (3) PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR (4) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS AND SUBJECT TO ANY REQUIREMENT OF LAW THAT THE DISPOSITION OF THE SELLER’S PROPERTY OR THE PROPERTY OF AN
INVESTOR ACCOUNT OR ACCOUNTS BE AT ALL TIMES WITH THE SELLER OR ACCOUNT’S CONTROL.” 
 (B) Notwithstanding the
foregoing, any Global Note or Definitive Note issued pursuant to subparagraphs (b)(4), (c)(3), (c)(4), (d)(2), (d)(3), (e)(2), or (e)(3) of this Section 2.06 (and all Notes issued
in exchange therefor or substitution thereof) will not bear the Private Placement Legend. 
 (2) Global Note Legend.
Each Global Note will bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITORY (AS DEFINED IN
THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO Section 2.01 AND Section 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO Section 2.06(a) OF THE
INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO Section 2.12 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITORY WITH THE PRIOR
WRITTEN CONSENT OF VISTRA OPERATIONS COMPANY LLC. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE 

  
 -32- 

 
DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“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 MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO.
OR SUCH OTHER ENTITY AS MAY BE 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.” 
 (3) Regulation S Temporary Global Note Legend. Each Regulation S Temporary Global Note will
bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS A TEMPORARY GLOBAL NOTE FOR PURPOSES OF REGULATION S UNDER
THE SECURITIES ACT. NEITHER THIS TEMPORARY GLOBAL NOTE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD, DELIVERED OR EXCHANGED FOR AN INTEREST IN A PERMANENT GLOBAL NOTE OR OTHER NOTE EXCEPT UPON DELIVERY OF THE CERTIFICATIONS SPECIFIED IN THE
INDENTURE.” 
 (g) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular
Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance
with Section 2.12 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest
in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and a notation will be made on the records maintained 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 Note, such other Global Note will be
increased accordingly and a notation will be made on the records maintained by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

(h) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global
Notes and Definitive Notes upon receipt of a Company Order in accordance with Section 2.02 hereof or at the Registrar’s request. 

  
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 (2) No service charge shall be made to a Holder of a Global Note or to a
Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer
taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.11, 3.06, 4.06 and 9.04 hereof. 

(3) The Registrar shall not be required to register the transfer of or exchange any Note selected for redemption in whole or in
part, except the unredeemed portion of any Note being redeemed in part. 
 (4) All Global Notes and Definitive Notes issued
upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive
Notes surrendered upon such registration of transfer or exchange. 
 (5) Neither the Registrar nor the Company shall be
required: 
 (A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of
business 15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of selection; 

(B) to register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or 
 (C) to register the transfer of or to exchange a Note between a record date
and the next succeeding interest payment date. 
 (6) Prior to due presentment for the registration of a transfer of any
Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other
purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 
 (7) The Trustee
shall authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof. 

(8) All orders, certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this
Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

  
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 (9) Notwithstanding anything herein to the contrary, neither the Trustee nor
the Registrar shall be responsible for ascertaining whether any transfer or exchange complies with the registration provisions of or exemptions from the Securities Act or applicable state securities laws. 

Section 2.07 Issuance of Additional Notes. 

The Company shall be entitled, upon delivery of an Officer’s Certificate, Opinion of Counsel and Company Order, to issue Additional Notes
(in an unlimited amount) under this Indenture which shall have identical terms as the Initial Notes issued on the Issue Date, other than with respect to the date of issuance and issue price. The Initial Notes issued on the Issue Date and any
Additional Notes issued shall be treated as a single class for all purposes under this Indenture. 
 With respect to any Additional Notes,
the Company shall set forth in a resolution of its Board of Directors and an Officer’s Certificate, a copy of each of which shall be delivered to the Trustee, or in one or more indentures supplemental hereto, the following information: 

(a) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; and 

(b) the issue price, the issue date and the CUSIP number of such Additional Notes. 

Section 2.08 Replacement Notes. 

(a) If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Note, the Company will issue and the Trustee, upon receipt of a Company Order, will authenticate a replacement Note if the Trustee’s requirements are met. An indemnity bond must be supplied by the Holder that
is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Company may charge for its expenses in
replacing a Note. 
 (b) Every replacement Note is an additional obligation of the Company and will be entitled to all of the benefits of
this Indenture equally and proportionately with all other Notes duly issued hereunder. 
 Section 2.09 Outstanding Notes. 

(a) The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it
for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.09 as not outstanding. Except as set forth in
Section 2.10 hereof, a Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note; however, Notes held by the Company or a Subsidiary of the Company shall not be deemed to be
outstanding for purposes of Section 3.07(a) and Section 9.02(a) hereof. 

  
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 (b) If a Note is replaced pursuant to Section 2.08 hereof, it
ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser. 

(c) If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be outstanding
and interest on it ceases to accrue. 
 (d) If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of any
thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest. 

Section 2.10 Treasury Notes. 
 In
determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company or any Subsidiary Guarantor, or by any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company or any Subsidiary Guarantor, will be considered as though not outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any such
direction, waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows are so owned will be so disregarded. 
 Section 2.11
Temporary Notes. 
 (a) Until certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon
receipt of a Company Order, will authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but may have variations that the Company considers appropriate for temporary Notes and as may be reasonably
acceptable to the Trustee. Without unreasonable delay, the Company will prepare and the Trustee will authenticate definitive Notes in exchange for temporary Notes. 

(b) Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

Section 2.12 Cancellation. 
 The
Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. Upon receipt of a Company Order, the
Trustee and no one else will cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will dispose of such canceled Notes in its customary manner. Certification of the disposition of all canceled
Notes will be delivered to the Company at the Company’s written request. The Company may not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. 

Section 2.13 CUSIP Numbers. 
 The
Company in issuing the Notes may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a 

  
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convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any
notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the
Trustee in writing of any change in the “CUSIP” numbers. 
 ARTICLE 3 

REDEMPTION AND PREPAYMENT 
 Section 3.01
Notices to Trustee. 
 If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 3.07 hereof, it must furnish to the Trustee, at least 10 days but not more than 60 days before a redemption date, an Officer’s Certificate setting forth: 

(1) the clause of this Indenture pursuant to which the redemption shall occur; 

(2) the redemption date; 

(3) the principal amount of Notes to be redeemed; 

(4) the redemption price; and 

(5) the applicable CUSIP numbers, if any. 

Section 3.02 Selection of Notes to Be Redeemed. 

If less than all of the Notes are to be redeemed at any time, the Trustee (or Registrar if other than the Trustee) shall select Notes for
redemption on a pro rata basis to the extent practicable or by lot or such other similar method in accordance with the procedures of the Depository, unless otherwise required by law or applicable stock exchange requirements. 

In the event of partial redemption by lot, the particular Notes to be redeemed shall be selected, unless otherwise provided herein, not less
than 10 nor more than 60 days prior to the redemption by the Trustee from the outstanding Notes not previously called for redemption. 

The Trustee shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Note selected for
partial redemption, the principal amount thereof to be redeemed. Notes and portions of Notes selected shall be in minimum amounts of $2,000 or whole multiples of $1,000 in excess of $2,000; except that if all of the Notes of a Holder are to be
redeemed, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes called for redemption also
apply to portions of Notes called for redemption. 
 No Notes of $2,000 or less shall be redeemed in part. Notices of redemption shall be
mailed by first-class mail or delivered electronically at least 10 but not more than 60 days 

  
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before the redemption date to each Holder to be redeemed at its registered address, except that redemption notices may be mailed or delivered electronically more than 60 days prior to a
redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture. 

If any Note is to be redeemed in part only, the notice of redemption that relates to that Note shall state the portion of the principal amount
of that Note that is to be redeemed. In the case of certificated Notes, a new Note in principal amount equal to the unredeemed portion of the original Note shall be issued in the name of the Holder upon cancellation of the original Note. Notes
called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions of them called for redemption unless the Company defaults in making the applicable redemption
payment. 
 Section 3.03 Notice of Redemption. 

At least 10 days but not more than 60 days before a redemption date, the Company shall mail or cause to be mailed, by first-class
mail or delivered electronically, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that, notwithstanding anything to the contrary in Section 3.07 below, redemption
notices may be mailed or delivered electronically more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to
Article 8 or Article 11 hereof. 
 The notice will identify the Notes to be redeemed and will state: 

(1) the redemption date; 

(2) the redemption price; 

(3) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the
redemption date upon surrender of such Note, in the case of certificated Notes, a new Note or Notes in principal amount equal to the unredeemed portion will be issued in the name of the Holder upon cancellation of the original Note; 

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

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

(6) that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the redemption date; 
 (7) the applicable section of this Indenture or the Notes pursuant to which the
Notes called for redemption are being redeemed; 
 (8) that no representation is made as to the correctness or accuracy of
the CUSIP number, if any, listed in such notice or printed on the Notes; and 

  
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 (9) if such redemption is subject to the satisfaction of one of more
conditions precedent, such notice shall state that, in the Company’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied (or waived by the Company in its sole discretion), such
redemption may not occur and such notice may be rescinded in the event that any or all of such conditions shall not have been satisfied (or waived by the Company in its sole discretion) by the redemption date, or by the redemption date so delayed.

 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense;
provided, however, that the Company has delivered to the Trustee, at least 10 days prior to the redemption date (or such shorter period as the Trustee in its sole discretion may allow), an Officer’s Certificate requesting
that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Any redemption and notice thereof may, in the Company’s discretion, be subject to the satisfaction of one or more conditions precedent.

 Section 3.04 Effect of Notice of Redemption. 

Once notice of redemption is mailed or delivered electronically in accordance with Section 3.03 hereof, Notes called
for redemption become, subject to any conditions precedent set forth in the notice of redemption, irrevocably due and payable on the redemption date at the redemption price. 

Section 3.05 Deposit of Redemption Price. 

One Business Day prior to the redemption date, the Company shall deposit with the Trustee or with the Paying Agent money sufficient to pay the
redemption price of, accrued interest to but excluding the redemption date, and premium, if any, on all Notes to be redeemed on that date. Promptly after the Company’s written request, the Trustee or the Paying Agent shall promptly return to
the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price of, accrued interest, and premium, if any, on, all Notes to be redeemed. 

If the Company complies with the provisions of the preceding paragraph, on and after the redemption date, interest will cease to accrue on the
Notes or the portions of Notes called for redemption. 
 If a Note is redeemed on or after an interest record date but on or prior to the
related interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption is not so paid upon surrender for
redemption because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption date until such principal is paid, and to the extent lawful on any interest not paid on such
unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof. 

  
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 Section 3.06 Notes Redeemed in Part. 

Upon surrender of a Note that is redeemed in part, the Company shall issue and, upon receipt of a Company Order, the Trustee shall
authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed portion of the Note surrendered. 

Section 3.07 Optional Redemption. 

(a) At any time prior to May 1, 2024, the Company may on any one or more occasions redeem up to 40% of the aggregate principal amount of
the Notes, upon not less than 10 nor more than 60 days’ notice, at a redemption price of 104.375% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to but excluding the redemption date (subject to the
rights of Holders on the relevant record date to receive interest due on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings; provided that: 

(1) at least 50% of the aggregate principal amount of the Notes issued on the Issue Date (excluding Notes held by the Company
and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and 
 (2) the redemption
occurs within 180 days of the date of the closing of such Equity Offering. 
 (b) At any time prior to May 1, 2024, the Company
may on any one or more occasions redeem all or a part of the Notes, upon not less than 10 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount of Notes redeemed, plus the Applicable Premium as
of, and accrued and unpaid interest, if any, to but excluding the redemption date, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 

(c) Except pursuant to clauses (a) and (b) above, the Notes are not redeemable at the Company’s option prior to May 1,
2024. The Company is not prohibited, however, from acquiring the Notes in market transactions by means other than a redemption, whether pursuant to a tender offer or otherwise, if such action does not otherwise violate this Indenture. 

(d) On or after May 1, 2024, the Company may on any one or more occasions redeem all or a part of the Notes upon not less than 10 nor
more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes redeemed, to but excluding the applicable redemption date, if
redeemed during the 12-month period beginning on May 1 of the years indicated below (subject to the rights of Holders on the relevant record date to receive interest on the relevant interest payment
date): 
  

					
	 Year
	  	Percentage	 
	 2024
	  	 	102.188	% 
	 2025
	  	 	101.094	% 
	 2026 and thereafter
	  	 	100.000	% 

  
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 (e) If a redemption date is not a Business Day, payment may 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 redemption date if it were a Business Day for the intervening period. 

(f) Notwithstanding the foregoing, in connection with any tender offer for or other offer to purchase the Notes, including a Change of Control
Offer, if Holders of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not validly withdraw such Notes in such offer and the Company, or any third party making such an offer in lieu of the Company,
purchase all of the Notes validly tendered and not withdrawn by such Holders, the Company or such third party will have the right upon not less than 10 nor more than 60 days’ notice, given not more than 30 days following such tender
offer expiration date, to redeem the Notes that remain outstanding, in whole but not in part, following such purchase at a price equal to the price paid to each other Holder (excluding any early tender, incentive or similar fee) in such offer, plus,
to the extent not included in the offer payment, accrued and unpaid interest, if any, thereon, to, but excluding, such redemption date. In determining whether the Holders of at least 90% of the aggregate principal amount of the then outstanding
Notes have validly tendered and not validly withdrawn such Notes in a tender offer or other offer to purchase, such calculation shall include all Notes owned by an Affiliate of the Company (notwithstanding any provision of this Indenture to the
contrary). 
 (g) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Section 3.01 through Section 3.06 hereof. 
 Section 3.08 Mandatory Redemption. 

The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes. However, the Company may be
required to offer to purchase the Notes upon the occurrence of a Change of Control Trigger Event pursuant to Section 4.06. The Company and any Subsidiaries may at any time and from time to time purchase Notes in the open
market or otherwise. 
 Section 3.09 Calculation of Redemption Price. 

The Trustee shall have no obligation to calculate the redemption price of any Note. 

ARTICLE 4 
 COVENANTS 

Section 4.01 Payment of Notes. 
 The
Company shall pay or cause to be paid the principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in this Indenture and the Notes. Principal, premium, if any, and interest will be considered paid on the date
due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all
principal, premium, if any, and interest then due. 

  
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 Section 4.02 Maintenance of Office or Agency. 

(a) The Company shall maintain an office or agency (which may be an office of the Trustee or an affiliate of the Trustee or Registrar) where
Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company shall 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 fails to maintain any such required office or agency or fails 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. 
 (b) The Company may also from time to time designate one or
more other offices or agencies where the Notes 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 Company hereby designates the Corporate Trust
Office of the Trustee as one such office or agency of the Company in accordance with Section 2.03 hereof. 
 Section 4.03
Reports. 
 (a) Whether or not required by the SEC’s rules and regulations, so long as any Notes are outstanding, the Company
shall furnish to the Trustee and Holders, within the time periods (including any extensions thereof) specified in the SEC’s rules and regulations: 

(1) all quarterly and annual reports of the Company that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Company were required to file such reports; and 

(2) all current reports of the Company that would be required to be filed with the SEC on
Form 8-K if the Company were required to file such reports. 
 All such reports shall be
prepared in all material respects in accordance with all of the rules and regulations applicable to such reports. Each annual report on Form 10-K shall include a report on the Company’s consolidated
financial statements by the Company’s independent registered public accounting firm. In addition, the Company shall file a copy of each of the reports referred to in clauses (1) and (2) above with the SEC for public availability
within the time periods specified in the rules and regulations applicable to such reports (unless the SEC will not accept such a filing). To the extent such filings are made with the SEC, the reports shall be deemed to have been furnished to the
Trustee and Holders. To the extent such filings are not made with the SEC, the reports shall be deemed to have been furnished to the Trustee and Holders if the Company (i) delivers such reports to the Trustee and (ii) posts copies of such
reports on a website (which may be nonpublic and may be maintained by the Company or a third party) to which access shall be given to Holders and prospective purchasers of the Notes, in each case at the Company’s expense and by the applicable
date the Company would be required to file such information pursuant to the preceding paragraph. 

  
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 (b) In addition, the Company agrees that, for so long as any Notes remain outstanding, at
any time it is not required to file the reports required by the preceding paragraphs with the SEC, it will furnish to the Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered
pursuant to Rule 144A(d)(4) under the Securities Act. 
 (c) Notwithstanding the foregoing, the foregoing obligations may be satisfied
with respect to financial and other information of the Company by furnishing (including by filing with the SEC) (i) the applicable financial statements of Vistra Corp. (or any other direct or indirect parent of the Company) or (ii) Vistra
Corp.’s (or any other direct or indirect parent of the Company, as applicable) Form 8-K, 10-K or 10-Q, as applicable, filed
with the SEC; provided that, with respect to Section 4.03(a), to the extent such information relates to Vistra Corp. (or any other direct or indirect parent of the Company), such information is accompanied by
consolidating or other information that explains in reasonable detail the differences between the information relating to Vistra Corp. or such other parent, on the one hand, and the information relating to the Company on a standalone basis, on the
other hand (provided, however, that the Company shall be under no obligation to deliver such consolidating or other explanatory information if the Total Assets and the Consolidated EBITDA of the Company and its consolidated Restricted
Subsidiaries do not differ from the Total Assets and the Consolidated EBITDA, respectively, of Vistra Corp. (or any other direct or indirect parent of the Company) and its consolidated Subsidiaries by more than 2.5%). 

(d) Delivery of such reports, information and documents to the Trustee is for informational purposes only, and the Trustee’s receipt
thereof shall not constitute actual or 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 on an Officer’s Certificate). 
 Section 4.04 Compliance Certificate. 

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

  
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 (b) So long as any of the Notes are outstanding, the Company shall deliver to the Trustee,
promptly upon the Company becoming aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 

Section 4.05 Liens. 
 The Company
will not and will not permit any Subsidiary Guarantor to, create, incur, assume or suffer to exist or become effective any mortgage, pledge or other lien (other than Permitted Liens) upon any Principal Property to secure indebtedness for borrowed
money represented by notes, bonds, debentures or other evidences of indebtedness, unless all payments due under this Indenture and the Notes issued thereunder are secured on an equal and ratable basis with the obligations so secured until such time
as such obligations are no longer secured by a lien. 
 Section 4.06 Offer to Repurchase Upon a Change of Control Trigger Event. 

(a) Upon the occurrence of a Change of Control Trigger Event, each Holder will have the right to require the Company to repurchase all or any
part (equal to $2,000 or an integral multiple of $1,000 in excess of $2,000) of that Holder’s Notes pursuant to a change of control offer (the “Change of Control Offer”). In the Change of Control Offer, the Company will offer a
payment (the “Change of Control Payment”) in cash equal to 101% of the aggregate principal amount of the Notes repurchased, plus accrued and unpaid interest, if any, on the Notes to but excluding the date of purchase, subject to the
rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. Within 30 days following any Change of Control Trigger Event, the Company shall mail (or deliver electronically) a notice to each
Holder describing the transaction or transactions that constitute the Change of Control and stating: 
 (1) that the Change
of Control Offer is being made pursuant to this Section 4.06 and that all Notes tendered will be accepted for payment; 

(2) the purchase price and the purchase date, which date will be no earlier than 10 days and no later than 60 days
from the date such notice is mailed or delivered electronically (the “Change of Control Payment Date”); 

(3) that any Note not tendered will continue to accrue interest; 

(4) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 
 (5) that Holders
electing to have any Notes purchased pursuant to a Change of Control Offer shall be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes completed, to the Paying Agent at
the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 

  
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 (6) that Holders will be entitled to withdraw their election if the Paying
Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, email, facsimile transmission or letter setting forth the name of the Holder, the principal amount of
Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and 

(7) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess of $2,000. 

The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Trigger Event. To the extent that the provisions of any securities
laws or regulations conflict with the provisions of this Section 4.06, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this
Section 4.06 by virtue of such compliance. 
 (b) On the Change of Control Payment Date, the Company shall, to the
extent lawful: 
 (1) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control
Offer; 
 (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or
portions of Notes properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 

The Paying Agent shall promptly mail or deliver electronically to each Holder properly tendered the Change of Control Payment for the Notes,
and the Trustee shall promptly authenticate and deliver (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each new Note
shall be in a minimum principal amount of $2,000 or an integral multiple of $1,000 in excess of $2,000. The Company shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment
Date. 
 (c) Notwithstanding anything to the contrary in this Section 4.06, the Company shall not be required to
make a Change of Control Offer upon a Change of Control Trigger Event if (1) a third party makes the Change of Control Offer in the manner, at or prior to the times and otherwise in compliance with the requirements set forth in this
Section 4.06 and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) notice of 

  
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redemption has been given pursuant to Section 3.07 hereof, unless and until there is a default in payment of the applicable redemption price. A Change of Control Offer
may be made in advance of a Change of Control Trigger Event, with the obligation to pay and the timing of payment conditioned upon the occurrence of a Change of Control Trigger Event, if a definitive agreement to effect a Change of Control is in
place at the time the Change of Control Offer is made. 
 Section 4.07 Additional Subsidiary Guarantees. 

(a) If any Eligible Subsidiary of the Company other than a Subsidiary Guarantor (i) guarantees any Indebtedness under the Credit
Agreement or (ii) if the Company has no Indebtedness outstanding under the Credit Agreement, guarantees any Additional Indebtedness, then within 30 days thereof the Company shall cause such Eligible Subsidiary to execute and deliver to the
Trustee a supplemental indenture pursuant to which such Subsidiary will guarantee payment of the Notes on the same terms and conditions as those applicable to the Subsidiary Guarantors under this Indenture and will deliver to the Trustee an
Officer’s Certificate and Opinion of Counsel that such supplemental indenture has been duly authorized, executed and delivered and constitutes a legally valid and enforceable obligation (subject to customary qualifications and exceptions). 

Thereafter, such Eligible Subsidiary will be a Subsidiary Guarantor with respect to the Notes until such Eligible Subsidiary’s Subsidiary
Guarantee with respect to the Notes is released in accordance with this Indenture. 
 ARTICLE 5 

SUCCESSORS 
 Section 5.01 Merger,
Consolidation or Sale of Assets. 
 (a) The Company may not, directly or indirectly: (i) consolidate or merge with or into another
Person (whether or not the Company is the surviving corporation); or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole, in one
or more related transactions, to another Person; unless: 
 (1) either: 

(A) the Company is the surviving corporation; or 

(B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale,
assignment, transfer, conveyance or other disposition has been made is a corporation, partnership or limited liability company organized or existing under the laws of the United States, any state of the United States or the District of Columbia or
any territory thereof (such Person, as the case may be, being herein called the “Successor Company”); 

  
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 (2) the Successor Company (if other than the Company) expressly assumes all
the obligations of the Company under this Indenture and the Notes pursuant to a supplemental indenture; and 
 (3)
immediately after such transaction, no Default or Event of Default exists. 
 (b) In addition, the Company shall not, directly or
indirectly, lease all or substantially all of its properties or assets, in one or more related transactions, to any other Person. 
 (c)
This Section 5.01 will not apply to: 
 (1) a merger, amalgamation or consolidation of the Company
with an Affiliate solely for the purpose of reincorporating the Company in another jurisdiction or forming a direct or indirect holding company of the Company; and 

(2) any sale, transfer, assignment, conveyance, lease or other disposition of assets between or among the Company and its
Subsidiaries, including by way of merger or consolidation. 
 Section 5.02 Successor Company Substituted. 

Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the
assets of the Company and its Subsidiaries taken as a whole in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof, the Successor Company shall succeed to, and be substituted for
(so that from and after the date of such consolidation, merger, sale, lease, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the Successor Company and not to the Company),
and may exercise every right and power of the Company under this Indenture with the same effect as if the Successor Company had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved
from the obligation to pay the principal of, interest, premium (if any) on the Notes except in the case of a sale of all of the Company’s assets in a transaction that is subject to, and that complies with the provisions of,
Section 5.01 hereof. 
 ARTICLE 6 

DEFAULTS AND REMEDIES 
 Section 6.01
Events of Default. 
 Each of the following is an “Event of Default” with respect to the Notes: 

(1) default for 30 days in the payment when due of interest on the Notes; 

(2) default in payment when due of the principal of, or premium, if any, on the Notes; 

(3) failure by the Company or a Subsidiary Guarantor to comply with any covenant in this Indenture (other than a default
specified in clause (1) or (2) above) for 60 days after written notice by the Trustee or Holders of at least 30% in principal amount of the Notes then outstanding; 

  
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 (4) default under any document evidencing any indebtedness for borrowed
money by the Company or any Subsidiary Guarantor, whether such indebtedness now exists or is created after the Issue Date, if that default: 

(A) is caused by a failure to pay principal when due at final (and not any interim) maturity on or prior to the expiration of
any grace period provided in such indebtedness (a “Payment Default”); or 
 (B) results in the acceleration
of such indebtedness prior to its express maturity (without such acceleration having been rescinded, annulled or otherwise cured), 
 and, in
each case, the principal amount of any such indebtedness, together with the principal amount of any other such indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated (without such acceleration
having been rescinded, annulled or otherwise cured), aggregates $300.0 million or more; provided that this clause (4) shall not apply to (i) secured indebtedness that becomes due as a result of the voluntary sale or transfer of
the property or assets securing such indebtedness and (ii) any indebtedness that is required to be converted into Qualifying Equity Interests upon the occurrence of certain designated events so long as no payments in cash or otherwise are
required to be made in accordance with such conversion; 
 (5) except as permitted by this Indenture, any Subsidiary
Guarantee of any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary shall be held in any final and
non-appealable judicial proceeding to be unenforceable or invalid or shall cease for any reason (other than in accordance with its terms) to be in full force and effect or any Subsidiary Guarantor that is a
Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary, or any Person acting on behalf of any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary
Guarantors that, taken together, would constitute a Significant Subsidiary, shall deny or disaffirm in writing its or their obligations under its or their Subsidiary Guarantees; and 

(6) (a) a court of competent jurisdiction (i) enters an order or decree under any Bankruptcy Law that is for relief
against the Company, any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary in an involuntary case; (ii) appoints a custodian for all or
substantially all of the property of the Company, any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary; or (iii) orders the liquidation
of the Company, any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary and, in each of clauses (i), (ii) or (iii), the order, appointment
or decree remains unstayed and in effect 

  
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for at least 60 consecutive days; or (b) the Company, any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would
constitute a Significant Subsidiary, pursuant to or within the meaning of 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 all or substantially all of its property; (iv) makes a general assignment for the benefit of its creditors. 

Section 6.02 Acceleration. 
 In the
case of an Event of Default pursuant to Section 6.01(6), principal of and accrued and unpaid interest on all the Notes that are outstanding will become due and payable immediately without further action or notice. If any
other Event of Default occurs and is continuing, the Trustee or the Holders of at least 30% in principal amount of Notes that are outstanding may declare the principal of and accrued and unpaid interest on all the Notes to be due and payable
immediately. 
 Section 6.03 Waiver of Past Defaults. 

Holders of not less than a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may, on behalf of the
Holders, waive any existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of interest on or principal of, such Notes (including in connection with an offer to purchase);
provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration.
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 6.04 Control by Majority. 

Holders of a majority in principal amount of the Notes that are then outstanding may direct the Trustee in its exercise of any trust or power.
However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or the Notes or, subject to Section 7.01 and Section 7.02, that the Trustee determines is unduly
prejudicial to the rights of other Holders or 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. The Trustee may
withhold from Holders of the Notes notice of any continuing Default or Event of Default if it determines that withholding notice is in their interest, except a Default or Event of Default relating to the payment of principal or interest. 

Section 6.05 Limitations on Suits. 

In case an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under
this Indenture at the request or direction of any Holders of the Notes unless such Holders have offered to the Trustee indemnity or 

  
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security satisfactory to the Trustee against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder of a
Note may pursue any remedy with respect to this Indenture unless: 
 (1) such Holder has previously given the Trustee notice
that an Event of Default is continuing; 
 (2) Holders of at least 30% in aggregate principal amount of the Notes that are
then outstanding have requested the Trustee to pursue the remedy; 
 (3) such Holders have offered the Trustee reasonable
security or indemnity against any loss, liability or expense; 
 (4) the Trustee has not complied with such request within
60 days after the receipt thereof and the offer of security or indemnity; and 
 (5) Holders of a majority in aggregate
principal amount of the Notes that are then outstanding have not given the Trustee a direction inconsistent with such request within such 60-day period. 

Section 6.06 Collection Suit by Trustee. 

If an Event of Default specified in Section 6.01(1) or Section 6.01(2) occurs and is
continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on the Notes and interest on
overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. 

Section 6.07 Priorities. 
 If the
Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order: 

First: to the Trustee, its agents and attorneys for amounts due under Section 7.06 hereof,
including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

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

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

  
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 The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.07. 
 Section 6.08 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 the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries or its or their
respective creditors or properties and, unless prohibited by law or applicable regulations, may be entitled and empowered to participate as a member of any official committee of creditors appointed in such matter and may vote on behalf of the
Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any custodian or other party making payment 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 compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and
any other amounts due the Trustee under Section 7.06 hereof. 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 Notes 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. 

Section 6.09 Noteholder Directions. 

(a) Any notice of Default, notice of acceleration or instruction to the Trustee to provide a notice of Default, notice of acceleration or take
any other action (a “Noteholder Direction”) provided by any one or more Holders (each, a “Directing Holder”) must be accompanied by a written representation from each such Holder to the Company and the Trustee that such Holder is
not (or, in the case such Holder is DTC or its nominee, that such Holder is being instructed solely by Beneficial Owners that are not) Net Short (a “Position Representation”), which representation, in the case of a Noteholder Direction
relating to a notice of Default (a “Default Direction”) shall be deemed repeated at all times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated. In addition, each Directing Holder must,
at the time of providing a Noteholder Direction, covenant to provide the Company with such other information as the Company may reasonably request from time to time in order to verify the accuracy of such Directing Holder’s Position
Representation within five Business Days of request therefor (a “Verification Covenant”). Notwithstanding anything to the contrary, in any case in which the Holder is DTC or its nominee, any Position Representation or Verification Covenant
required hereunder shall be provided by the Beneficial Owner of the Notes in lieu of DTC or its nominee, and such beneficial owner shall provide proof of its holdings in a manner satisfactory to the Trustee. 

(b) If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Company determines in good faith that
there is a reasonable basis to believe a Directing Holder was, at any relevant time, in breach of its Position Representation and provides to the Trustee an officer’s certificate stating that the Company has initiated litigation

  
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(“Litigation”) in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its Position Representation, and seeking to
invalidate any Event of Default that resulted from the applicable Noteholder Direction, the cure period with respect to such Event of Default shall be automatically stayed and the cure period with respect to such Event of Default shall be
automatically reinstituted and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter (a “Final Decision”). Once such officer’s
certificate has been provided to the Trustee, the Trustee shall take no further action pursuant to the related Noteholder Direction until it has actual knowledge of a Final Decision. If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes, the Company provides to the Trustee an officer’s certificate stating that a Directing Holder failed to satisfy its Verification Covenant (a “Verification Covenant Officer’s Certificate”), the cure
period with respect to such Event of Default shall be automatically stayed and the cure period with respect to any Event of Default that resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy stayed and
the Trustee shall take no further action pursuant to the related Noteholder Direction until such time as the Company provides the Trustee with an officer’s certificate that the Verification Covenant has been satisfied (a “Covenant
Satisfaction Officer’s Certificate”); provided that the Company shall promptly deliver such Covenant Satisfaction Officer’s Certificate to the Trustee upon becoming aware that the Verification Covenant has been satisfied. Any breach
of the Position Representation (as evidenced by the delivery to the Trustee of the officer’s certificate stating that a Directing Holder failed to satisfy its Verification Covenant (a “Covenant Failure Officer’s Certificate”))
shall result in such Holder’s participation in such Noteholder Direction being disregarded; and if, without the participation of such Holder, the percentage of Notes held by the remaining Holders that provided such Noteholder Direction would
have been insufficient to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio, with the effect that such Event of Default shall be deemed never to have occurred, acceleration voided and the Trustee shall be
deemed not to have received such Noteholder Direction or any notice of such Default or Event of Default. 
 (c) Notwithstanding anything in
the preceding two paragraphs to the contrary, (i) any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy or similar direction shall not require compliance with the foregoing
paragraphs and (ii) a notice of Default may not be given with respect to any action taken, and reported publicly or to Holders, more than two years prior to such notice of Default. For the avoidance of doubt, the Trustee shall have no duty to
inquire as to or investigate the accuracy of any Position Representation, enforce compliance with any Verification Covenant or verify any statements in any officer’s certificate delivered to it or otherwise make calculations or determinations
with respect to Derivative Instruments, Net Shorts, Long Derivative Instruments, Short Derivative Instruments, or otherwise, shall have no obligation to monitor or determine whether a Holder is Net Short and can rely conclusively on a Directing
Holder’s Position Representation, the officer’s certificates delivered by the Company and determinations made by a court of competent jurisdiction, and shall have no liability for ceasing to take any action, staying any remedy or otherwise
filing to act in accordance with a Noteholder Direction during the pendency of Litigation or a Noteholder Direction after a Verification Covenant Officer’s Certificate has been provided but prior to receipt of a Covenant Satisfaction
Officer’s Certificate. The Trustee shall have no liability or responsibility to the Company or to any Holder or any other Person in connection with any Noteholder Direction or to determine whether or not any Holder has received a Position
Representation or that such Position Representation conforms with this Indenture or any other agreement. 

  
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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 will exercise such of the rights and powers vested in
it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

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

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

(2) 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, with respect to certificates or opinions specifically required by any provision
hereof to be furnished to it, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or
other facts stated therein). 
 (c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure
to act, or its own willful misconduct, except that: 
 (1) this Section 7.01(c) does not limit the
effect of Section 7.01(b); 
 (2) the Trustee will not be liable for any error of judgment made in
good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(3) the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.04 hereof, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Indenture with respect to the Notes. 
 (d) No provision of this Indenture will require the Trustee to expend or risk
its own funds or incur any liability. 

  
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 (e) The Trustee will not be liable for interest on or the investment of any money received
or for any loss which may result from any investment or sale of investment by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by
law. 
 (f) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is
subject to Section 7.01 and Section 7.02. 
 Section 7.02 Rights of Trustee. 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, judgment, 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 Person. 
 (b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel
or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel of its own selection and the advice of such
counsel or any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct, negligence or failure to act of any
attorney or agent appointed with due care. 
 (d) The Trustee will not be liable for any action it takes, suffers or omits to take in good
faith that it believes to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 
 (e) Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company or any Subsidiary Guarantor, as applicable, will be sufficient if signed by an Officer of the Company or such Subsidiary Guarantor, as
applicable. 
 (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the losses, liabilities and expenses that might be incurred by the Trustee in compliance with such
request or direction. 
 (g) In no event shall the Trustee be responsible or liable for special, indirect, punitive, incidental, 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. 

(h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual
knowledge thereof or unless written notice 

  
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of any event which is in fact such a default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this
Indenture. 
 (i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its
right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder as Registrar and Paying Agent, and each Agent, Custodian and other Person employed to act hereunder. 

(j) The Trustee may request that the Company and each Subsidiary Guarantor deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any Person authorized to sign an Officer’s Certificate, including any Person
specified as so authorized in any such certificate previously delivered and not superseded. 
 (k) Notwithstanding any provision herein to
the contrary, in no event shall the Trustee be liable for any failure or delay in the performance of its obligations under this Indenture because of circumstances beyond its control, including, but not limited to, nuclear or natural catastrophes or
acts of God, epidemic, pandemic, flood, war (whether declared or undeclared), terrorism, fire, riot, strikes or work stoppages for any reason, embargo, government action, including any laws, ordinances, regulations or the like which restrict or
prohibit the providing of the services contemplated by this Indenture, inability to obtain material, equipment, or communications or computer (software and hardware) facilities, or the failure of equipment or interruption of utilities,
communications or computer (software and hardware) facilities, the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility and other causes beyond its control whether or not of the same class or kind as
specifically named above. 
 (l) 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 at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(m) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. 

(l) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty. 

  
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 Section 7.03 Individual Rights of Trustee. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with either the Company or
any Subsidiary Guarantor or any Affiliate of the Company or any Subsidiary Guarantor with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict
within 90 days, apply to the SEC for permission to continue as Trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and duties. 

Section 7.04 Trustee’s Disclaimer. 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of any offering materials, this Indenture,
the Notes or any Subsidiary Guarantee; it shall not be accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture; it will not be
responsible for the use or application of any money received by any Paying Agent other than the Trustee; and it will not be responsible for any statement or recital herein or any statement in the Notes, any Subsidiary Guarantee or any other document
in connection with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication. 
 Section 7.05 Notice of
Defaults. 
 If a Default or Event of Default occurs and is continuing and if it is actually known to the Trustee, the Trustee will mail
or deliver electronically to Holders a notice of the Default or Event of Default within 90 days after it obtains actual knowledge. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest on,
any Note, the Trustee may and shall be protected in withholding the notice if and so long as it in good faith determines that withholding the notice is in the interests of the Holders. 

Section 7.06 Compensation and Indemnity. 

(a) The Company and Subsidiary Guarantors, jointly and severally, shall pay to the Trustee from time to time reasonable compensation, as
agreed in writing from time to time, for its acceptance and administration of this Indenture and services hereunder. The Trustee’s compensation will not be limited by any law on compensation of a Trustee of an express trust. The Company and
Subsidiary Guarantors, jointly and severally, shall reimburse the Trustee promptly upon request for all reasonable and documented disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such
expenses will include the reasonable and documented compensation, disbursements and expenses of the Trustee’s agents and counsel. 

(b) The Company and each Subsidiary Guarantor, jointly and severally, will indemnify the Trustee and hold it harmless from and against any and
all losses, liabilities, claims, damages, costs or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties or the exercise of its rights under this Indenture and the Subsidiary

  
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Guarantees, including the reasonable and documented costs and expenses (including, without limitation fees and expenses of counsel) of enforcing this Indenture and the Subsidiary Guarantees
against the Company and the Subsidiary Guarantors (including, but not limited to, this Section 7.06) and defending itself against any claim (whether asserted by the Company, the Subsidiary Guarantors, any Holder or any
other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its own gross negligence or willful misconduct (as
shall have been finally adjudicated by a court of competent jurisdiction). The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company will not relieve the Company or any
of the Subsidiary Guarantors of their obligations hereunder. The Company or such Subsidiary Guarantor shall defend such claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Company and/or Subsidiary
Guarantors shall pay the reasonable fees and expenses of such counsel. Neither the Company nor any Subsidiary Guarantor need pay for any settlement made without its consent, which consent shall not be unreasonably withheld. 

(c) When the Trustee incurs expenses or renders services after an Event of Default specified in clause (6) of
Section 6.01 hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute administrative expenses for the purposes of priority
under any Bankruptcy Law. 
 (d) The Company’s and Subsidiary Guarantors’ obligations under this
Section 7.06 shall survive the resignation or removal of the Trustee, the satisfaction and discharge of this Indenture, any termination of this Indenture, including any termination or rejection of this Indenture in any
insolvency or similar proceeding, and the repayment of all the Notes. 
 (e) As security for the performance of such obligations of the
Company and any Subsidiary Guarantor, the Trustee shall have a claim and lien prior to the Notes upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (or premium, if any) or
interest, if any, on particular Notes. 
 Section 7.07 Replacement of Trustee. 

(a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor
Trustee’s acceptance of appointment as provided in this Section 7.07. 
 (b) The Trustee may resign at any
time and be discharged from the trust hereby created by so notifying the Company in writing. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in
writing not less than 30 days prior to the effective date of such removal. The Company may remove the Trustee if: 
 (1)
the Trustee fails to comply with Section 7.09 hereof; 
 (2) the Trustee is adjudged a bankrupt or
an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; 

  
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 (3) a custodian or public officer takes charge of the Trustee or its
property; or 
 (4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company will promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Company. 
 (d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the
retiring or removed Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor
Trustee. 
 (e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.09 hereof, such Holder may petition at the expense of the Company any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail or deliver electronically a notice of
its succession to Holders. The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee. 
 (g)
The retiring Trustee shall have no responsibility or liability for any action or inaction of a successor Trustee. 
 Section 7.08 Successor Trustee
by Merger, etc. 
 If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust
business (including this transaction) to, another corporation, the successor corporation without any further act will be the successor Trustee. 

Section 7.09 Eligibility; Disqualification. 

There will at all times be a Trustee hereunder that is an entity organized and doing business under the laws of the United States of America
or of any state thereof that is authorized under such laws to exercise corporate trust powers, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $50.0 million
as set forth in its most recent published annual report of condition. 

  
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 ARTICLE 8 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. 

The Company may, at its option evidenced by a resolution of its Board of Directors set forth in an Officer’s Certificate, at any time,
elect to have either Section 8.02 or Section 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.02, the Company and each of the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their
obligations with respect to all outstanding Notes (including the Subsidiary Guarantees) on the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Legal Defeasance”). For this
purpose, Legal Defeasance means that the Company and the Subsidiary Guarantors shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes (including the Subsidiary Guarantees), which will thereafter be
deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections hereof referred to in clauses (1) and (2) below, and to have satisfied all their other obligations under
such Notes, the Subsidiary Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until
otherwise terminated or discharged hereunder: 
 (1) the rights of Holders of outstanding Notes to receive payments in
respect of the principal of, or interest or premium on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof; 

(2) the Company’s obligations with respect to such Notes under Article 2 and Section 4.02
hereof; 
 (3) the rights, powers, trusts, duties, indemnities and immunities of the Trustee hereunder, and the
Company’s and the Subsidiary Guarantors’ obligations in connection therewith; and 
 (4) this Article 8.

 Subject to compliance with this Article 8, the Company may exercise its option under this Section 8.02
notwithstanding the prior exercise of its option under Section 8.03 hereof. 
 Section 8.03 Covenant Defeasance. 

Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.03, the Company and the Subsidiary Guarantors shall, subject to the satisfaction 

  
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of the conditions set forth in Section 8.04 hereof, be released from each of their obligations under Sections 4.03, 4.04, 4.05,
4.06 and 4.07 hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the
Notes will thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of the Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be
deemed “outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and
Subsidiary Guarantees, the Company and the Subsidiary Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under
Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes and Subsidiary Guarantees shall be unaffected thereby. In addition, upon the Company’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Sections 8.04, 6.01(3), 6.01(4)
and 6.01(5) hereof shall not constitute Events of Default. 
 Section 8.04 Conditions to Legal or Covenant Defeasance. 

(a) In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or
Section 8.03 hereof: 
 (1) the Company must irrevocably deposit with the Trustee, in trust, for
the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities or a combination of cash in U.S. dollars and non-callable Government Securities, in
amounts as will be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants to pay the principal of, or interest and premium on, the Notes that are then outstanding on the Stated
Maturity or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date; 

(2) in the case of Legal Defeasance, the Company has delivered to the Trustee an Opinion of Counsel reasonably acceptable to
the Trustee confirming that, subject to customary assumptions and exclusions, (a) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (b) since the Issue Date, there has been a change in
the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel will confirm that, the Holders of Notes that are then outstanding will not recognize income, gain or loss for federal income tax
purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(3) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel reasonably
acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, the Holders that are then outstanding 

  
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will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such Covenant Defeasance had not occurred; 
 (4) no Default or Event of
Default with respect to the Notes has occurred and is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit); 

(5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under any
material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

(6) the Company must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Company
with the intent of preferring the Holders over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding creditors of the Company or others; and 

(7) the Company must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
  

	Section	 8.05 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.

 Subject to Section 8.06 hereof, all money and
non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the
“Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and
interest, but such money need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.04 hereof or
the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 

Notwithstanding anything in this Article 8 to the contrary, the Trustee shall deliver or pay to the Company from time to time upon the
request of the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a)(1) hereof), are in excess of the amount thereof that would then be required
to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

  
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 Section 8.06 Repayment to the Company. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium,
if any, or interest on, any Note and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable, shall be paid to the Company on its written request or (if then held by the Company) will be
discharged from such trust; and the Holder of such Note will thereafter be permitted to 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, will 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 the New York
Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed
balance of such money then remaining shall be repaid to the Company. 
 Section 8.07 Reinstatement. 

If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable Government
Securities in accordance with Section 8.02 or Section 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s and the Subsidiary Guarantors’ obligations under this Indenture and the Notes and the Subsidiary Guarantees will be revived and reinstated as though no deposit had occurred pursuant to
Section 8.02 or Section 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or
Section 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of its obligations, the
Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE 9 
 AMENDMENT, SUPPLEMENT
AND WAIVER 
 Section 9.01 Without Consent of Holders of Notes. 

Notwithstanding Section 9.02 hereof, the Company, the Subsidiary Guarantors and the Trustee may amend or supplement
this Indenture, the Subsidiary Guarantees or the Notes without the consent of any Holder: 
 (1) to cure any ambiguity,
defect or inconsistency; 
 (2) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

  
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 (3) to provide for the assumption of the Company’s or a Subsidiary
Guarantor’s obligations to Holders in the case of a merger or consolidation or sale of all or substantially all of the Company’s or such Subsidiary Guarantor’s assets pursuant to Article 5 of this Indenture (if applicable);

 (4) to make any change that would provide any additional rights or benefits to the Holders or that does not adversely
affect the legal rights under this Indenture of any such Holder; 
 (5) to comply with requirements of the SEC in order to
effect or maintain the qualification of this Indenture under the TIA; 
 (6) to conform the text of this Indenture, the
Subsidiary Guarantees or the Notes to any provision of the “Description of the Notes” section of the Offering Memorandum, to the extent that such provision in the “Description of the Notes” was intended to be a verbatim or
substantially verbatim recitation of a provision of this Indenture, the Notes or the Subsidiary Guarantees, as evidenced by an Officer’s Certificate; 

(7) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee pursuant to the
requirements thereof; 
 (8) to provide for the issuance of Additional Notes in accordance with the limitations set forth in
this Indenture; or 
 (9) to allow any Subsidiary Guarantor to execute a supplemental indenture and/or a Subsidiary Guarantee
with respect to the Notes. 
 Upon the request of the Company, accompanied by a resolution of its Board of Directors authorizing the
execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 12.02 and Section 9.05 hereof the Trustee shall join with the Company and the
Subsidiary Guarantors in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee
shall not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 

Section 9.02 With Consent of Holders of Notes. 

(a) Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this
Indenture (including, without limitation, Section 4.06 hereof), the Subsidiary Guarantees and the Notes with the consent of the Holders of at least a majority in principal aggregate amount of the Notes then outstanding
(including, without limitation, consents obtained in connection with a purchase, or tender offer or exchange offer for, the Notes), and, subject to Section 6.03 hereof, any existing Default or Event of Default (other than a
Default or Event of Default in the payment of the principal of, premium or interest on the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Subsidiary
Guarantees or the Notes may be waived with the 

  
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consent of the Holders of a majority in principal aggregate amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender
offer or exchange offer for, the Notes). Section 2.09 hereof shall determine which Notes are considered to be “outstanding” for purposes of this Section 9.02. 

(b) Upon the request of the Company accompanied by a resolution of its Board of Directors and upon the filing with the Trustee of evidence
satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 12.02 and Section 9.05 hereof, the Trustee shall join with
the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee
may in its discretion, but will not be obligated to, enter into such amended or supplemental indenture. 
 (c) It is not necessary for the
consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment or waiver, but it is sufficient if such consent approves the substance thereof. 

(d) After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall mail or
deliver electronically to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail or deliver electronically such notice, or any defect therein, will not, however, in any way
impair or affect the validity of any such amended or supplemental indenture or waiver. Subject to Section 6.03 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding voting as a single
class may waive compliance in a particular instance by the Company with any provision of this Indenture or the Notes or the Subsidiary Guarantees. However, without the consent of each Holder affected, an amendment, supplement or waiver under this
Section 9.02 may not (with respect to any Notes held by a non-consenting Holder): 

(1) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 

(2) reduce the principal of or change the fixed maturity of any Note or alter the provisions with respect to the redemption of
the Notes (other than provisions relating to the covenant described in Section 4.06 and provisions relating to the number of days of notice to be given in the event of a redemption); 

(3) reduce the rate of or change the time for payment of interest on any Note; 

(4) waive a Default or Event of Default in the payment of principal of, or interest or premium on the Notes (except a
rescission of acceleration of the Notes by the Holders of a majority in aggregate principal amount of the Notes and a waiver of the payment default that resulted from such acceleration); 

(5) make any Note payable in currency other than that stated in the Notes; 

  
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 (6) make any change in the provisions of this Indenture relating to waivers
of past Defaults or the rights of Holders to receive payments of principal of, or interest or premium on the Notes; 
 (7)
waive a redemption payment with respect to any Note (other than a payment required by the covenant described in Section 4.06 hereof); or 

(8) make any change to Section 9.01 hereof and this Section 9.02. 

Section 9.03 Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a
Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms
and thereafter binds every Holder. 
 Section 9.04 Notation on or Exchange of Notes. 

The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in
exchange for all Notes may issue and the Trustee shall, upon receipt of a Company Order, authenticate new Notes that reflect the amendment, supplement or waiver. 

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

 Section 9.05 Trustee to Sign Amendments, etc. 

The Trustee shall sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does
not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company approves it. In executing any amended or supplemental
indenture, the Trustee will be entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying upon an Officer’s Certificate and an Opinion of Counsel stating that the execution of such
amended or supplemental indenture is authorized or permitted by this Indenture and all conditions precedent in this Indenture related to the execution of such supplemental indenture, if any, have been complied with. 

  
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 ARTICLE 10 

SUBSIDIARY GUARANTEES 
 Section 10.01
Guarantee. 
 (a) Subject to this Article 10, each of the Subsidiary Guarantors hereby, jointly and severally, irrevocably and
unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the obligations of the
Company hereunder or thereunder, that: 
 (1) the principal of, premium, if any, and interest on the Notes shall be promptly
paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee
hereunder or thereunder shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 

(2) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall be
promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 

Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Subsidiary Guarantors will be
jointly and severally obligated to pay the same immediately. Each Subsidiary Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

(b) The Subsidiary Guarantors hereby agree that their obligations hereunder are unconditional, irrespective of the validity, regularity or
enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Subsidiary Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with
a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenant that this Subsidiary Guarantee will not be discharged except by
complete performance of the obligations contained in the Notes and this Indenture. 
 (c) If any Holder or the Trustee is required by any
court or otherwise to return to the Company, the Subsidiary Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Company or the Subsidiary Guarantors, any amount paid by either to the Trustee or
such Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 

  
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 (d) Each Subsidiary Guarantor agrees that it will not be entitled to any right of
subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Subsidiary Guarantor further agrees that, as between the Subsidiary Guarantors, on the one hand,
and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes of this Subsidiary Guarantee, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations
(whether or not due and payable) will forthwith become due and payable by the Subsidiary Guarantors for the purpose of this Subsidiary Guarantee. The Subsidiary Guarantors will have the right to seek contribution from any non-paying Subsidiary Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Subsidiary Guarantee. 

Section 10.02 Limitation on Subsidiary Guarantor Liability. 

Each Subsidiary Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the
Subsidiary Guarantee of such Subsidiary Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to
the extent applicable to any Subsidiary Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Subsidiary Guarantors hereby irrevocably agree that the obligations of such Subsidiary Guarantor will be limited to the
maximum amount that will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Subsidiary Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under this Article 10, result in the obligations of such Subsidiary Guarantor under its
Subsidiary Guarantee not constituting a fraudulent transfer or conveyance. 
 Section 10.03 Subsidiary Guarantors May Consolidate, etc., on Certain
Terms. 
 Except as otherwise provided in Section 10.04 hereof, no Subsidiary Guarantor may sell or otherwise
dispose of all or substantially all of its assets to, or consolidate with or merge with or into (whether or not such Subsidiary Guarantor is the surviving Person) another Person, other than the Company or another Subsidiary Guarantor, unless
immediately after giving effect to that transaction, no Default or Event of Default exists. 
 In case of any such consolidation, merger,
sale or conveyance and upon the assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the Subsidiary Guarantee endorsed upon the Notes and the due and
punctual performance of all of the covenants and conditions of this Indenture to be performed by the Subsidiary Guarantor, such successor Person shall succeed to and be substituted for the Subsidiary Guarantor with the same effect as if it had been
named herein as a Subsidiary Guarantor. Such successor Person thereupon may cause to be signed any or all of the Subsidiary Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the
Company and delivered to the Trustee. All 

  
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the Subsidiary Guarantees so issued will in all respects have the same legal rank and benefit under this Indenture as the Subsidiary Guarantees theretofore and thereafter issued in accordance
with the terms of this Indenture as though all of such Subsidiary Guarantees had been issued on the Issue Date. 
 Except as set forth in
Article 4 and Article 5 hereof, nothing contained in this Indenture or in any of the Notes will prevent any consolidation or merger of a Subsidiary Guarantor with or into the Company or another Subsidiary Guarantor, or will prevent any
sale or conveyance of the property of a Subsidiary Guarantor as an entirety or substantially as an entirety to the Company or another Subsidiary Guarantor. 

Section 10.04 Releases. 
 (a) The
Subsidiary Guarantee of a Subsidiary Guarantor will be released automatically: 
 (1) upon the release, discharge or
termination of such Subsidiary Guarantor’s guarantee of all obligations of the Company under the Credit Agreement; 

(2) if such Subsidiary Guarantor has become a guarantor of any Additional Indebtedness, upon the release, discharge or
termination of such Subsidiary Guarantor’s guarantee of all obligations of the Company under such Additional Indebtedness; or 

(3) upon defeasance or satisfaction and discharge of the Notes as provided in Article 8 and Article 11 hereof.

 (b) Upon delivery by the Company to the Trustee of an Officer’s Certificate to the effect that the action or event giving rise to a
release has occurred as specified above, the Trustee shall, upon receipt by it of the documents described in Section 12.02 hereof, execute any documents reasonably requested by the Company or the Trustee in order to evidence the release of any
Subsidiary Guarantor from its obligations under its Subsidiary Guarantee. 
 (c) Any Subsidiary Guarantor not released from its obligations
under its Subsidiary Guarantee as provided in this Section 10.04 will remain liable for the full amount of principal of and interest and premium, if any, on the Notes and for the other obligations of any Subsidiary
Guarantor under this Indenture as provided in this Article 10. 
 ARTICLE 11 

SATISFACTION AND DISCHARGE 
 Section 11.01
Satisfaction and Discharge. 
 This Indenture will be discharged and will cease to be of further effect as to all Notes issued
hereunder, when: 
 (1) either: 

  
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 (A) all Notes that have been authenticated, except lost, stolen or destroyed
Notes that have been replaced or paid and Notes for whose payment money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or 

(B) all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the
distribution of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for
the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities or a combination of cash in U.S. dollars and non-callable Government Securities, in
such amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to
the date of maturity or redemption; 
 (2) no Default or Event of Default has occurred and is continuing on the date of the
deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the
Company or any Subsidiary Guarantor is a party or by which the Company or any Subsidiary Guarantor is bound; 
 (3) the
Company or any Subsidiary Guarantor has paid or caused to be paid all sums payable by it under this Indenture; and 
 (4) the
Company has delivered irrevocable written instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at maturity or the redemption date, as the case may be. 

In addition, the Company must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to
satisfaction and discharge have been satisfied. 
 Notwithstanding the satisfaction and discharge of this Indenture, if money has been
deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section 11.01, the provisions of Section 11.02 and Section 8.06 hereof will survive.
In addition, nothing in this Section 11.01 will be deemed to discharge those provisions of Section 7.06 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture. 

Section 11.02 Application of Trust Money. 

Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to
Section 11.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes 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, premium, if any, 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. 

  
 -69- 

 If the Trustee or Paying Agent is unable to apply any money or Government Securities in
accordance with Section 11.01 hereof 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
Company’s and any Subsidiary Guarantor’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof; provided that if
the Company has made any payment of principal of, premium, if any, or interest on any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the
money or Government Securities held by the Trustee or Paying Agent. 
 ARTICLE 12 

MISCELLANEOUS 
 Section 12.01 Notices.

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

If to the Company: 

Vistra Corp. 

6555 Sierra Drive 

Irving, Texas 75039 

Facsimile Number: (972) 556-6119 

Attention: Legal Department 

With a copy to: 

Sidley Austin LLP 

2021 McKinney Avenue, Suite 2000 

Dallas, Texas 75201 

Email: bhowell@sidley.com 

Facsimile Number: (214) 981-3400 

Attention: William D. Howell 

If to the Trustee: 

Wilmington Trust, National Association 

50 South 6th Street, Suite 1290 

Minneapolis, MN 55402 

Facsimile Number: (612) 217-5651 

Attention: Vistra Operations Company LLC Account Manager 

  
 -70- 

 The Company, any Subsidiary Guarantor or the Trustee, by notice to the others may designate
additional or different addresses for subsequent notices or communications. 
 All notices and communications (other than those sent to
Holders) will be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when sent, without automatic reply that such was unsuccessful,
if emailed; when receipt acknowledged, if sent by facsimile transmission; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 

Any notice or communication to a Holder will be delivered electronically or mailed by first class mail, certified or registered, return
receipt requested, or by overnight air courier guaranteeing next day delivery or emailed to its address shown on the register kept by the Registrar. Failure to mail a notice or communication to a Holder or any defect in it will not affect its
sufficiency with respect to other Holders. 
 If a notice or communication is delivered or mailed in the manner provided above within the
time prescribed, it is duly given, whether or not the addressee receives it. 
 If the Company delivers a notice or communication to
Holders, it will mail a copy to the Trustee and each Agent at the same time. 
 Section 12.02 Certificate and Opinion as to Conditions
Precedent. 
 Upon any request or application by the Company to the Trustee to take any action under this Indenture (other than in
connection with the Company Order, dated the date hereof, and delivered to the Trustee in connection with the issuance of the Initial Notes), the Company shall furnish to the Trustee: 

(1) an Officer’s Certificate in form and substance satisfactory to the Trustee (which must include the statements set
forth in Section 12.03 hereof) stating that, in the opinion of the signer, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

(2) an Opinion of Counsel in form and substance satisfactory to the Trustee (which must include the statements set forth in
Section 12.03 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied and, in the case of any action under Section 5.01(a)(2), that the Indenture and the
Notes are the valid and binding obligations of the Successor Company. 
 Section 12.03 Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture must include substantially:

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

  
 -71- 

 (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 such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

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

Section 12.04 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Agents may make reasonable rules and set reasonable
requirements for its functions. 
 Section 12.05 No Personal Liability of Directors, Officers, Employees and Stockholders. 

No director, officer, employee, incorporator or stockholder of the Company or any Subsidiary Guarantor, as such, will have any liability for
any obligations of the Company or the Subsidiary Guarantors under the Notes, this Indenture, the Subsidiary Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note
waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 

Section 12.06 Governing Law. 
 (a)
THIS INDENTURE, THE NOTES, AND THE SUBSIDIARY GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

(b) Each party hereto irrevocably and unconditionally submits to the jurisdiction of the Supreme Court of the State of New York sitting in the
Borough of Manhattan, New York County and of the United States District Court of the Southern District of New York sitting in the Borough of Manhattan, and any appellate court from any jurisdiction thereof, in any action or proceeding arising out of
or relating to this Indenture, the Notes or the Subsidiary Guarantees, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each party hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Indenture shall affect any right that any party hereto otherwise have to bring any action or proceeding relating to this Indenture against any party hereto
or its properties in the courts of any jurisdiction. 
 (c) Each party hereto irrevocably and unconditionally waives, to the fullest extent
it may legally and effectively do so, any objection which it may now or hereafter have to the laying 

  
 -72- 

 
of venue of any suit, action or proceeding arising out of or relating to this Indenture in any court referred to in Section 12.06(b) hereto. Each party hereto
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Each party hereto irrevocably consents to service of process in the manner provided for notices in Section 12.01
hereof, such service to be effective upon receipt. Nothing in this Indenture will affect the right of any party hereto to serve process in any other manner permitted by law. 

Section 12.07 Waiver of Immunity. 

To the extent that any of the Company or the Subsidiary Guarantors has or hereafter may acquire any immunity from jurisdiction of any court or
from any legal process (whether through service of notice, attachment prior to judgment, attachment in aid of execution or execution, on the ground of sovereignty or otherwise) with respect to itself or its property, it hereby irrevocably waives, to
the fullest extent permitted by applicable law, such immunity in respect of its obligations under this Indenture, Note and/or Subsidiary Guarantees. 

Section 12.08 Waiver of Jury Trials. 

ALL PARTIES HERETO AND THE HOLDERS (BY THEIR ACCEPTANCE OF THE NOTES) HEREBY IRREVOCABLY WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES, THE SUBSIDIARY GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

Section 12.09 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 12.10 Successors. 

All agreements of the Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will
bind its successors. All agreements of each Subsidiary Guarantor in this Indenture will bind its successors. 
 Section 12.11
USA Patriot Act. 
 The parties hereto acknowledge that in accordance with Section 326 of the
USA Patriot Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that
establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the
USA Patriot Act. 

  
 -73- 

 Section 12.12 Severability. 

In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions will not in any way be affected or impaired thereby. 
 Section 12.13 Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same
agreement. The exchange of copies of this Indenture and of signature pages by facsimile, or PDF or other electronic transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of
the original Indenture and signature pages for all purposes and shall constitute effective execution and delivery of this Indenture as to the parties hereto and will be of the same effect, validity and enforceability as manually executed signatures
or a paper-based recordkeeping system, as the case may be, to the extent and as provided for under applicable law, including the Electronic Signatures in Global and National Commerce Act of 2000 (15 U.S.C. §§ 7001-7006), the Electronic
Signatures and Records Act of 1999 (N.Y. State Tech. §§ 301-309), or any other similar state laws based on the Uniform Electronic Transactions Act; provided that, notwithstanding anything herein to
the contrary, the Trustee is not under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by such Trustee pursuant to procedures approved by such Trustee. 

Section 12.14 Table of Contents, Headings, etc. 

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

[Signatures on following pages] 

  
 -74- 

 Dated: May 10, 2021 

 

			
	 Vistra Operations Company LLC,

	as Issuer
		
	By:	 	 /s/ Kristopher E. Moldovan

	Name:	 	Kristopher E. Moldovan
	Title:	 	Senior Vice President and Treasurer

  
 [Signature Page to
the Vistra Operations Company LLC Indenture] 

 
	
	SUBSIDIARY GUARANTORS:
	
	Ambit California, LLC
	Ambit Energy Holdings, LLC
	Ambit Holdings, LLC
	Ambit Illinois, LLC
	Ambit Marketing, LLC
	Ambit Midwest, LLC
	Ambit New York, LLC
	Ambit Northeast, LLC
	Ambit Texas, LLC
	Bellingham Power Generation LLC
	Big Brown Power Company LLC
	Big Sky Gas Holdings, LLC
	Big Sky Gas, LLC
	Blackstone Power Generation LLC
	Bluenet Holdings, LLC
	Brightside Solar, LLC
	Calumet Energy Team, LLC
	Casco Bay Energy Company, LLC
	Cincinnati Bell Energy LLC
	Coffeen and Western Railroad Company
	Coleto Creek Energy Storage LLC
	Coleto Creek Power, LLC
	Comanche Peak Power Company LLC
	Core Solar SPV I, LLC
	Crius Energy Corporation
	Crius Energy, LLC
	Crius Solar Fulfillment, LLC
	Dallas Power & Light Company, Inc.
	Dicks Creek Power Company LLC
	Dynegy Coal Holdco, LLC
	Dynegy Coal Trading & Transportation, L.L.C.
	Dynegy Conesville, LLC
	Dynegy Energy Services (East), LLC
	Dynegy Energy Services, LLC
	Dynegy Killen, LLC
	Dynegy Marketing and Trade, LLC
	Dynegy Midwest Generation, LLC
	Dynegy Operating Company
	Dynegy Power Marketing, LLC
	Dynegy Resources Generating Holdco, LLC
	Dynegy South Bay, LLC
	Dynegy Stuart, LLC

  
 [Signature Page to
the Vistra Operations Company LLC Indenture] 

	
	Emerald Grove Solar, LLC
	Energy Rewards, LLC
	Ennis Power Company, LLC
	EquiPower Resources Corp.
	Everyday Energy NJ, LLC
	Everyday Energy, LLC
	Fayette Power Company LLC
	Forest Grove Solar LLC
	Generation SVC Company
	Hallmark Solar, LLC
	Hanging Rock Power Company LLC
	Hays Energy, LLC
	Hopewell Power Generation, LLC
	Illinois Power Generating Company
	Illinois Power Marketing Company
	Illinois Power Resources Generating, LLC
	Illinois Power Resources, LLC
	Illinova Corporation
	IPH, LLC
	Kendall Power Company LLC
	Kincaid Generation, L.L.C.
	La Frontera Holdings, LLC
	Lake Road Generating Company, LLC
	Liberty Electric Power, LLC
	Lone Star Energy Company, Inc.
	Lone Star Pipeline Company, Inc.
	Luminant Administrative Services Company
	Luminant Coal Generation LLC
	Luminant Commercial Asset Management LLC
	Luminant Energy Company LLC
	Luminant Energy Trading California Company
	Luminant ET Services Company LLC
	Luminant Gas Imports LLC
	Luminant Generation Company LLC
	Luminant Mining Company LLC
	Luminant Power Generation Inc.
	Luminant Power LLC
	Masspower, LLC
	Miami Fort Power Company LLC
	Midlothian Energy, LLC
	Milford Power Company, LLC
	Morro Bay Energy Storage 1, LLC
	Morro Bay Energy Storage 2, LLC
	Morro Bay Power Company LLC

  
 [Signature Page to
the Vistra Operations Company LLC Indenture] 

	
	Moss Landing Energy Storage 1, LLC
	Moss Landing Energy Storage 2, LLC
	Moss Landing Energy Storage 3, LLC
	Moss Landing Energy Storage 4, LLC
	Moss Landing Power Company LLC
	NCA Resources Development Company LLC
	NEPCO Services Company
	North Jersey Energy Associates, a Limited Partnership
	Northeastern Power Company
	Oak Grove Management Company LLC
	Oak Hill Solar LLC
	Oakland Energy Storage 1, LLC
	Oakland Energy Storage 2, LLC
	Oakland Energy Storage 3, LLC
	Oakland Power Company LLC
	Ontelaunee Power Operating Company, LLC
	Pleasants Energy, LLC
	Public Power & Utility of Maryland, LLC
	Public Power & Utility of NY, Inc.
	Public Power, LLC (a Connecticut limited liability company)
	Public Power, LLC (a Pennsylvania limited liability company)
	Regional Energy Holdings, Inc.
	Renewable Energy Ventures, LLC
	Richland-Stryker Generation LLC
	Sandow Power Company LLC
	Sayreville Power GP Inc.
	Sayreville Power Holdings LLC
	Sithe Energies, Inc.
	Sithe/Independence LLC
	Southwestern Electric Service Company, Inc.
	Texas Electric Service Company, Inc.
	Texas Energy Industries Company, Inc.
	Texas Power & Light Company, Inc.
	Texas Utilities Company, Inc.
	Texas Utilities Electric Company, Inc.
	TriEagle 1, LLC
	TriEagle 2, LLC
	TriEagle Energy LP
	Trinidad Power Storage LLC
	TXU Electric Company, Inc.
	TXU Energy Retail Company LLC

  
 [Signature Page to
the Vistra Operations Company LLC Indenture] 

			
		 	TXU Retail Services Company
		 	Upton County Solar 2, LLC
		 	Value Based Brands LLC
		 	Viridian Energy NY, LLC
		 	Viridian Energy PA LLC
		 	Viridian Energy, LLC
		 	Viridian Network, LLC
		 	Vistra Asset Company LLC
		 	Vistra Corporate Services Company
		 	Vistra EP Properties Company
		 	Vistra Finance Corp.
		 	Vistra Insurance Solutions LLC
		 	Vistra Preferred Inc.
		 	Volt Asset Company, Inc.
		 	Washington Power Generation LLC
		 	Wharton County Generation, LLC
		 	Wise County Power Company, LLC
		 	Wise-Fuels Pipeline, Inc.
		 	Zimmer Power Company LLC

  

					
		 	By:	 	 /s/ Kristopher E. Moldovan

		 	Name:	 	Kristopher E. Moldovan
		 	Title:	 	Senior Vice President and Treasurer

  
 [Signature Page to
the Vistra Operations Company LLC Indenture] 

					
		 	WILMINGTON TRUST, NATIONAL ASSOCIATION,
		 	as Trustee
			
		 	By:	 	 /s/ Barry D. Somrock

		 	Name:	 	Barry D. Somrock
		 	Title:	 	Vice President

  
 [Signature Page to
the Vistra Operations Company LLC Indenture] 

 EXHIBIT A 
  

					
		  	[Face of Note]	  	
			
		  	4.375% Senior Notes due 2029	  	CUSIP1/ISIN2:[         ]

 No. [        ] 

Vistra Operations Company LLC 
 promises to pay
to CEDE & CO., INC. or registered assigns, the principal sum of [            ]. Dollars ($[        ]) on May 1, 2029 

Interest Payment Dates: May 1 and November 1 
 Record
Dates: April 15 and October 15 
 Dated:                ,
20[        ] 
  
  

	1 	 CUSIPs: 92840VAH5 (Rule 144A) and U9226VAH0 (Regulation S) 

	2 	 ISINs: US92840VAH50 (Rule 144A) and USU9226VAH07 (Regulation S) 

  
 -A-1- 

 IN WITNESS WHEREOF, the Company has caused this Note to be duly signed below. 

 

			
	VISTRA OPERATIONS COMPANY LLC,

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated: 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	as Trustee certifies that this is one of the Notes described
in the within-named Indenture.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 -A-2- 

 [Back of Note] 

4.375% Senior Notes due 2029 
 [Insert the
Global Note Legend, if applicable pursuant to the provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the
provisions of the Indenture] 
 [Insert the Regulation S Temporary Global Note Placement Legend, if applicable pursuant to the provisions of the
Indenture] 
 Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise
indicated. 
 1. Interest. Vistra Operations Company LLC, a Delaware limited liability company (the “Company”),
promises to pay interest on the principal amount of this Note at 4.375% per annum from May 10, 2021 until maturity. The Company shall pay interest semi-annually in arrears on May 1 and November 1 of each year, or if any such day is
not a Business Day, on the next succeeding Business Day (and without any additional interest or other payment in respect of any delay) (each, an “Interest Payment Date”), with the same force and effect as if made on such date.
Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this
Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further, that the first Interest Payment
Date shall be November 1, 2021. Interest will be computed on the basis of a 360-day year of twelve 30-day months, and with respect to any period less than a full
calendar month, on the basis of the actual number of days elapsed during the period. 
 2. Method of Payment. The Company shall pay
interest on the Notes to the Persons who are registered Holders of Notes on the April 15 and October 15 (whether or not a Business Day) immediately preceding the Interest Payment Date, except that interest payable at maturity will be paid
to the person to whom principal is paid. The Notes will be payable as to principal, premium, if any, and interest at the office or agency of the Company maintained for such purpose, or, at the option of the Company, payment of interest and may be
made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest and premium, if any,
on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment shall be in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. 
 3. Paying Agent and Registrar. Initially, Wilmington Trust, National
Association, the Trustee under the Indenture, will act as Paying Agent and the Registrar. The Company may change any Paying Agent or the Registrar without prior notice to any Holder. The Company or any of its Subsidiaries may act in any such
capacity. 

  
 -A-3- 

 4. Indenture. The Company issued the Notes under an Indenture dated as of
May 10, 2021, among the Company, the Subsidiary Guarantors and the Trustee, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling. The Company shall be entitled to issue Additional Notes pursuant to Section 2.07 of the Indenture. 

5. Optional Redemption. 

(a) At any time prior to May 1, 2024, the Company may on any one or more occasions redeem up to 40% of the aggregate principal amount of
the Notes, upon not less than 10 nor more than 60 days’ notice, at a redemption price of 104.375% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to but excluding the redemption date (subject to the
rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings; provided that: 

(1) at least 50% of the aggregate principal amount of the Notes issued on the Issue Date (excluding Notes held by the Company
and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and 
 (2) the redemption
occurs within 180 days of the date of the closing of such Equity Offering. 
 (b) At any time prior to May 1, 2024, the Company
may on any one or more occasions redeem all or a part of the Notes, upon not less than 10 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount of Notes redeemed, plus the Applicable Premium as
of, and accrued and unpaid interest, if any, to but excluding the redemption date, subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date. 

(c) Except pursuant to clauses (a) and (b) above, the Notes are not redeemable at the Company’s option prior to May 1,
2024. The Company and its subsidiaries are not prohibited, however, from acquiring the Notes in market transactions by means other than a redemption, whether pursuant to a tender offer or otherwise. 

(d) On or after May 1, 2024, the Company may on any one or more occasions redeem all or a part of the Notes upon not less than 10 nor
more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes redeemed, to but excluding the applicable redemption date, if
redeemed during the 12-month period beginning on May 1 of the years indicated below (subject to the rights of Holders on the relevant record date to receive interest on the relevant interest payment
date): 

  
 -A-4- 

					
	 Year
	  	Percentage	 
	 2024
	  	 	102.188	% 
	 2025
	  	 	101.094	% 
	 2026 and thereafter
	  	 	100.000	% 

 (e) If a redemption date is not a Business Day, payment may 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 redemption date if it were a Business Day for the intervening period. 

(f) Notwithstanding the foregoing, in connection with any tender offer for the Notes, including a Change of Control Offer, if Holders of not
less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not validly withdraw such Notes in such tender offer and the Company, or any third party making such a tender offer in lieu of the Company, purchase all of
the Notes validly tendered and not withdrawn by such Holders, the Company or such third party will have the right upon not less than 10 nor more than 60 days’ notice, given not more than 30 days following such tender offer expiration
date, to redeem the Notes that remain outstanding, in whole but not in part, following such purchase at a price equal to the price paid to each other Holder (excluding any early tender, incentive or similar fee) in such tender offer, plus, to the
extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon, to, but excluding, such redemption date. In determining whether the Holders of at least 90% of the aggregate principal amount of the then outstanding
Notes have validly tendered and not validly withdrawn Notes in a tender offer or other offer to purchase, the denominator in such calculation shall include all Notes owned by an Affiliate of the Company (notwithstanding any provision of the
Indenture to the contrary). 
 6. Offer to Repurchase Upon a Change of Control Trigger Event. Upon the occurrence of a Change of
Control Trigger Event, each Holder shall have the right to require the Company to make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess of $2,000) of
each Holder’s Notes at a purchase price equal to 101% of the aggregate principal amount of the Notes repurchased, plus accrued and unpaid interest on the Notes, if any, to but excluding the date of purchase, subject to the rights of Holders of
Notes on the relevant record date to receive interest due on the relevant interest payment date specified in the notice (the “Change of Control Payment”). Within 30 days following any Change of Control Trigger Event, the
Company shall mail (or deliver electronically) a notice to each Holder describing the transaction or transactions that constitute the Change of Control as required by the Indenture. 

7. Notice of Redemption. Notice of redemption will be furnished at least 10 days but not more than 60 days before the
redemption date to each Holder whose Notes are to be redeemed. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the
redemption date interest ceases to accrue on Notes or portions thereof called for redemption. 
 8. Denominations, Transfer,
Exchange. The Notes are in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess of 

  
 -A-5- 

 
$2,000. A Holder may transfer or exchange Notes in accordance with the provisions of the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents in connection with a transfer of Notes. There will be no service charge for any transfer or exchange of the Notes, but Holders will be required to pay all taxes due on transfer. The Company is not required to
transfer or exchange any Note selected for redemption or to transfer or exchange any Note for a period of 15 days before a selection of Notes to be redeemed. The registered Holder will be treated as the owner of the Note for all purposes. 

9. Persons Deemed Owners. The registered Holder of a Note may be treated as its owner for all purposes. 

10. Amendment, Supplement and Waiver. The Indenture or the Notes may be amended or supplemented with the consent of the Holders of at
least a majority in principal amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes), and any existing default or compliance with any
provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then-outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, the Notes). Without the consent of any Holder of a Note, the Indenture or the Notes may be amended or supplemented (i) to cure any ambiguity, defect or inconsistency, (ii) to provide for uncertificated Notes in
addition to or in place of certificated Notes, (iii) to provide for the assumption of the Company’s or a Subsidiary Guarantor’s obligations to Holders of the Notes in the case of a merger or consolidation or sale of all or
substantially all of the Company’s or such Subsidiary Guarantor’s assets pursuant to Article 5 of the Indenture, (iv) to make any change that would provide any additional rights or benefits to the Holders of Notes or that does
not adversely affect the legal rights under the Indenture, (v) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act of 1939, as amended, (vi) to conform the
text of the Indenture, the Notes, or the Subsidiary Guarantees to any provision of the “Description of the Notes” in the Offering Memorandum to the extent that such provision in the “Description of the Notes” was intended to be a
verbatim or substantially verbatim recitation of a provision of the Indenture, the Notes or the Subsidiary Guarantees as evidenced by an Officer’s Certificate of the Company, (vii) to evidence and provide for the acceptance and appointment
under the Indenture of a successor Trustee pursuant to the requirements thereof, (viii) to provide for the issuance of Additional Notes in accordance with the limitations set forth in the Indenture or (ix) to allow any Subsidiary Guarantor
to execute a supplemental indenture and/or Subsidiary Guarantee with respect to the Notes. 
 11. Defaults and Remedies. Events of
Default include: (1) default for 30 days in the payment when due of interest on the Notes; (2) default in payment when due of the principal of, or premium, if any, on the Notes; (3) failure by the Company or a Subsidiary
Guarantor to comply with any covenant in the Indenture (other than a default specified in clause (1) or (2) above) for 60 days after written notice by the Trustee or Holders of at least 30% in principal amount of the Notes then outstanding;
(4) default under any document evidencing any indebtedness for borrowed money by the Company or any Subsidiary Guarantor, whether such indebtedness now exists or is created after the Issue Date, if that default: (A) is caused by a failure
to pay principal when due at final (and not any interim) maturity on or prior to the 

  
 -A-6- 

 
expiration of any grace period provided in such indebtedness (a “Payment Default”); or (B) results in the acceleration of such indebtedness prior to its express maturity
(without such acceleration having been rescinded, annulled or otherwise cured), and, in each case, the principal amount of any such indebtedness, together with the principal amount of any other such indebtedness under which there has been a Payment
Default or the maturity of which has been so accelerated (without such acceleration having been rescinded, annulled or otherwise cured), aggregates $300.0 million or more; provided that this clause (4) shall not apply to
(i) secured indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such indebtedness and (ii) any indebtedness that is required to be converted into Qualifying Equity Interests upon
the occurrence of certain designated events so long as no payments in cash or otherwise are required to be made in accordance with such conversion); (5) except as permitted by this Indenture, any Subsidiary Guarantee of any Subsidiary Guarantor
that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together would constitute a Significant Subsidiary shall be held in any final and non-appealable judicial proceeding to be
unenforceable or invalid or shall cease for any reason (other than in accordance with its terms) to be in full force and effect or any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together
would constitute a Significant Subsidiary, or any Person acting on behalf of any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together would constitute a Significant Subsidiary, shall deny
or disaffirm in writing its or their obligations under its or their Subsidiary Guarantees; and (6)(a) a court of competent jurisdiction (i) enters an order or decree under any Bankruptcy Law that is for relief against the Company, any
Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary in an involuntary case; (ii) appoints a custodian for all or substantially all of the
property of the Company, any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary; or (iii) orders the liquidation of the Company, any
Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary and, in each of clauses (i), (ii) or (iii), the order, appointment or decree remains
unstayed and in effect for at least 60 consecutive days; or (b) the Company, any Subsidiary Guarantor that is a Significant Subsidiary or any group of Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary,
pursuant to or within the meaning of 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 all
or substantially all of its property; or (iv) makes a general assignment for the benefit of its creditors. 
 12. Trustee Dealings
with Company. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Subsidiary Guarantor or any Affiliate of the Company or any Subsidiary Guarantor with the
same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as Trustee (if the Indenture
has been qualified under the TIA) or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Section 7.09 of the Indenture. 

  
 -A-7- 

 13. No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of the Company or any Subsidiary Guarantor, as such, will have any liability for any obligations of the Company or the Subsidiary Guarantors under the Notes, the Indenture, the Subsidiary Guarantees or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive
liabilities under the federal securities laws. 
 14. Authentication. This Note will not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent. 
 15. Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act). 
 16. CUSIP Numbers/ISINs. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Company has caused CUSIP numbers/ISINs to be printed on the Notes and the Trustee may use CUSIP numbers/ISINs in notices of redemption as a convenience to Holders. No representation is made as to the
accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

17. NEW YORK LAW TO GOVERN. THE INDENTURE, THIS NOTES AND THE SUBSIDIARY GUARANTEES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 -A-8- 

 The Company shall furnish to any Holder upon written request and without charge a copy of
the Indenture. Requests may be made to: 
 Vistra Operations Company LLC 

6555 Sierra Drive 
 Irving, Texas
75039 
 Attention: Legal Department 

Facsimile: (972) 556-6119 

  
 -A-9- 

 Assignment Form 
  

											
	 To assign this Note, fill in the form below:

		
	(I) or (we) assign and transfer this Note to:	 	 
		  		  	(Insert assignee’s legal name)
	
	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
		  		  		 		  		  	
	
	 
	(Print or type assignee’s name, address and zip code)
	
	and irrevocably appoint to transfer this Note on the books of the Company. The agent may substitute another to act for him.

											
					
	Date:	  	  
	  		 	 Your Signature:
	  	
				
		  		  		 	  

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

 Signature Guarantee*:
                                         
            
  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 -A-10- 

 Option of Holder to Elect Purchase Pursuant to Section 4.06 

If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.06 of the
Indenture, state the amount you elect to have purchased: 
  

	
	$

  

			
	 Date:
	 	
 

 

	
	Your Signature:
	
	  
 (Sign exactly as your name appears
on the face of this Note)

 
			
		
	Tax Identification No.:	 	  

  

			
	Signature Guarantee*:	 	  

  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 -A-11- 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

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

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

  

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

  
 -A-12- 

 EXHIBIT B 

FORM OF CERTIFICATE OF TRANSFER 
 Vistra
Operations Company LLC 
 6555 Sierra Drive 
 Irving, Texas
75039 
 Wilmington Trust, National Association 
 50 South 6th Street, Suite 1290 
 Minneapolis, MN 55402 

Attention: Vistra Operations Company LLC Account Manager 
 Fax
No.: (612) 217-5651 
  

	 	Re:	 4.375% Senior Notes due 2029 

Reference is hereby made to the Indenture, dated as of May 10, 2021 (the “Indenture”), among Vistra Operations
Company LLC, as issuer (the “Company”), the Subsidiary Guarantors party thereto and Wilmington Trust, National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture. 
                     ,
(the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $             in
such Note[s] or interests (the “Transfer”), to                      (the “Transferee”), as further
specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 

1. ☐ Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Restricted Definitive Note
pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby
further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more
accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule
144A and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Definitive Note and in the Indenture and the Securities Act. 

2. ☐ Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Restricted Definitive
Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 of Regulation S under the Securities Act and, accordingly, the Transferor hereby further certifies

  
 -B-1- 

 
that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such
Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market
and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or
Rule 904(a) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the
expiration of the Distribution Compliance Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an initial purchaser). Upon consummation of the proposed transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Definitive Note and in the
Indenture and the Securities Act. 
 3. ☐ Check and complete if Transferee will take delivery of a beneficial interest in a
Restricted Global Note or Restricted Definitive Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial
interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby
further certifies that (check one): 
 (a) ☐ such Transfer is being effected pursuant to and in accordance with Rule
144 under the Securities Act; 
 or 

(b) ☐ such Transfer is being effected to the Company or a subsidiary thereof; 

or 
 (c)
☐ such Transfer is being effected pursuant to an effective registration statement under the Securities Act in compliance with the prospectus delivery requirements of the Securities Act; 

or 
 (d)
☐ such Transfer is being effected pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, or Rule 903 or Rule 904 of Regulation S, and the Transferor hereby further certifies that it
has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive
Notes and the 

  
 -B-2- 

 
requirements of the exemption claimed, which certification is supported by, if such Transfer is in respect of a principal amount of Notes at the time of transfer of less than $250,000, an Opinion
of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Global Note and/or the Definitive Notes and
in the Indenture and the Securities Act. 
 4. ☐ Check if Transferee will take delivery of a beneficial interest in an
Unrestricted Global Note or of an Unrestricted Definitive Note. 
 (a) ☐ Check if Transfer is pursuant to Rule 144. (i)
The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture. 
 (b) ☐ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected
pursuant to and in accordance with Rule 903 or Rule 904 of Regulation S under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture. 
 (c) ☐ Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected
pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 of Regulation S and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act.
Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 

  
 -B-3- 

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Company. 
  

			
	  

	
	[Insert Name of Transferor]
		
	By:	 	  

		
		 	Name:
		
		 	Title:
		
	Dated:	 	  

  
 -B-4- 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

							
	 1.
	  	The Transferor owns and proposes to transfer the following:
	
	[CHECK ONE OF (a) OR (b)]
				
		  	(a)	  	☐	  	a beneficial interest in the:
				
		  	  (i)	  	☐	  	144A Global Note (CUSIP                     ), or
				
		  	  (ii)	  	☐	  	Regulation S Global Note (CUSIP                     ); or
				
		  	(b)	  	☐	  	a Restricted Definitive Note.
		
	 2.
	  	After the Transfer the Transferee will hold:
	
	[CHECK ONE OF (a), (b) OR (c)]
				
		  	(a)	  	☐	  	a beneficial interest in the:
				
		  	  (i)	  	☐	  	144A Global Note (CUSIP                     ), or
				
		  	  (ii)	  	☐	  	Regulation S Global Note (CUSIP                     ), or
				
		  	  (iv)	  	☐	  	Unrestricted Global Note (CUSIP                     ); or
				
		  	(b)	  	☐	  	a Restricted Definitive Note; or
				
		  	(c)	  	☐	  	an Unrestricted Definitive Note,
		
		  	in accordance with the terms of the Indenture.

  
 -B-5- 

 EXHIBIT C 

EXHIBIT C 
 FORM OF
CERTIFICATE OF EXCHANGE 
 Vistra Operations Company LLC 

6555 Sierra Drive 
 Irving, Texas 75039 

Wilmington Trust, National Association 
 50 South 6th Street, Suite 1290 
 Minneapolis, MN 55402Attention: Vistra Operations Company LLC Account Manager 

Fax No.: (612) 217-5651 
  

	 	Re:	 4.375% Senior Notes due 2029 

Reference is hereby made to the Indenture, dated as of May 10, 2021 (the “Indenture”), among Vistra Operations
Company LLC, as issuer (the “Company”), the Subsidiary Guarantors party thereto and Wilmington Trust, National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture. 
                     ,
(the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $         in such Note[s] or interests (the
“Exchange”). In connection with the Exchange, the Owner hereby certifies that: 
 1. Exchange of Restricted
Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note 

(a) ☐ Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global
Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial
interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Note and pursuant to and in accordance with the
United States Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b) ☐ Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection
with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own

  
 -C-1- 

 
account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Note and pursuant to and in accordance with
the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being
acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (c) ☐ Check if Exchange
is from Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby
certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and
pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the
beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (d)
☐ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies
(i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and
pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the
Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or
Beneficial Interests in Restricted Global Notes 
 (a) ☐ Check if Exchange is from beneficial interest in a Restricted
Global Note to Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the
Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 

(b) ☐ Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with
the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] ☐ 144A Global Note, ☐ Regulation S Global Note with an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the 

  
 -C-2- 

 
Restricted Definitive Note and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global
Note and in the Indenture and the Securities Act. 

  
 -C-3- 

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Company. 
  

									
		 		 		 	  

				
		 		 		 	[Insert Name of Transferor]
					
		 		 		 	By:	 	  

					
		 		 	        	 		 	Name:
					
		 		 		 		 	Title:
					
	Dated:	 	  
	 		 		 	

  
 -C-4- 

 FORM OF SUPPLEMENTAL INDENTURE 

ADDITIONAL SUBSIDIARY GUARANTEES 

THIS [ ] SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
                , 20    , among (the “Guaranteeing Subsidiary”) a subsidiary of Vistra Operations Company LLC (or its permitted
successor), a limited liability company (the “Company” ), the Company, the other Subsidiary Guarantors (as defined in the Indenture referred to herein) and Wilmington Trust, National Association, as trustee under the indentures
referred to below (the “Trustee”). 
 W I T N E S S E T H 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of
May 10, 2021, among the Company, the Subsidiary Guarantors named therein and the Trustee, providing for the original issuance of an aggregate principal amount of $1,250,000,000 of 4.375% Senior Notes due 2029 (the “Notes”),
and, subject to the terms of the Indenture, future unlimited issuances of 4.375% Senior Notes due 2029 (the “Additional Notes, and together with the Initial Notes, the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture (the “Subsidiary Guarantee”); and 

WHEREAS, pursuant to Section 4.07 of the Indenture, the Trustee, the Company and the other Subsidiary Guarantors are
authorized and required to execute and deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for
good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary, the Trustee, the Company and the other Subsidiary Guarantors mutually covenant and agree for the equal and ratable benefit of the Holders of
the Notes as follows: 
 1. Capitalized Terms. Unless otherwise defined in this Supplemental Indenture, capitalized terms used herein
without definition shall have the meanings assigned to them in the Indenture. 
 2. Agreement to be Bound; Guarantee. The
Guaranteeing Subsidiary hereby becomes a party to the Indenture as a Subsidiary Guarantor and as such will have all of the rights and be subject to all of the Obligations and agreements of a Subsidiary Guarantor under the Indenture. The Guaranteeing
Subsidiary hereby agrees to be bound by all of the provisions of the Indenture applicable to a Subsidiary Guarantor and to perform all of the Obligations and agreements of a Subsidiary Guarantor under the Supplemental Indenture. In furtherance of
the foregoing, the Guaranteeing Subsidiary shall be deemed a Subsidiary Guarantor for purposes of Article 10 of the Indenture, including, without limitation, Section 10.02 thereof. 

 3. NEW YORK LAW TO GOVERN. THE INDENTURE, THE NOTES, AND THE SUBSIDIARY GUARANTEES
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 4. 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. 

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

6. The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Company. 

7. Ratification of Indenture; Supplemental Indenture 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 heretofore or hereafter
authenticated and delivered shall be bound hereby. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
 Dated:
                , 20         
  

			
	[GUARANTEEING SUBSIDIARY]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	[COMPANY]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	[EXISTING SUBSIDIARY GUARANTORS]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	[TRUSTEE],
	as Trustee

 
			
		
	By:	 	  

	Name:	 	
	Title:EX-10.1

 Exhibit 10.1 

Execution Version 
 VISTRA
OPERATIONS COMPANY LLC 
 $1,250,000,000 

4.375% Senior Notes due 2029 

Purchase Agreement 
 May 5,
2021 
 J.P. Morgan Securities LLC 
 As Representative of the
Initial Purchasers 
 383 Madison Avenue, 8th Floor 

New York, New York 10179 
 Ladies and Gentlemen: 

Vistra Operations Company LLC, a limited liability company organized under the laws of the State of Delaware (the “Company”) and
wholly owned indirect subsidiary of Vistra Corp. (the “Parent”), proposes to issue and sell to the several parties named in Schedule I hereto (the “Initial Purchasers”), for whom you (the “Representative”) are
acting as representative, $1,250,000,000 principal amount of its 4.375% Senior Notes due 2029 (the “Securities”). The Securities are to be issued under an indenture (the “Indenture”), to be dated as of the Closing Date (as
defined below), between the Company and Wilmington Trust, National Association, as trustee (the “Trustee”). The Securities will be fully and unconditionally guaranteed (the “Guarantees”) by certain of the Company’s current
and future subsidiaries, including (i) its current and future wholly owned domestic subsidiaries and (ii) Vistra Preferred Inc. and its wholly owned domestic subsidiaries (collectively, the “Guarantors”) that, in each case, from
time to time are guarantors under the Credit Agreement, dated October 3, 2016, among the Company, Vistra Intermediate Company LLC (“Vistra Intermediate”), the Guarantors, various lenders party thereto and Credit Suisse AG, Cayman
Islands Branch, as successor administrative agent and successor collateral agent (as amended, the “Credit Agreement”). The use of the neuter in this purchase agreement (this “Agreement”) shall include the feminine and masculine
wherever appropriate. 
 The sale of the Securities to the Initial Purchasers will be made without registration of the Securities under the
Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”), in reliance upon exemptions from the registration requirements of the Securities Act. 

In connection with the sale of the Securities, the Company has prepared a preliminary offering memorandum, dated May 5, 2021 (as amended
or supplemented at the date thereof, including any and all exhibits thereto and any information incorporated by reference therein, the “Preliminary Memorandum”), and a final offering memorandum, dated May 5, 2021

 
(as amended or supplemented at the Execution Time (as defined below), including any and all exhibits thereto and any information incorporated by reference therein, the “Final
Memorandum”). Each of the Preliminary Memorandum and the Final Memorandum sets forth certain information concerning the Company and the Securities. The Company hereby confirms that it has authorized the use of the Disclosure Package (as defined
below), the Preliminary Memorandum and the Final Memorandum, and any amendment or supplement thereto, in connection with the offer and sale of the Securities by the Initial Purchasers. Unless stated to the contrary, any references herein to the
terms “amend”, “amendment” or “supplement” with respect to the Disclosure Package, the Preliminary Memorandum and the Final Memorandum shall be deemed to refer to and include any information filed under the Exchange Act
(as defined below) subsequent to the Execution Time that is incorporated by reference therein. 
 As used in this Agreement, the
“Disclosure Package” shall mean (i) the Preliminary Memorandum, as amended or supplemented at the date and time that this Agreement is executed and delivered by the parties hereto (the “Execution Time”), (ii) the final term
sheet prepared pursuant to Section 5(b) hereto and in the form attached as Schedule II hereto and (iii) any writings in addition to the Preliminary Memorandum that the parties expressly agree in writing to treat as part of the Disclosure
Package (“Issuer Written Information”). 
 The net proceeds from the offering of the Securities will be used, together with
certain cash on hand of the Company, (i) to prepay certain amounts outstanding under the credit facility established by that certain secured, 364-day term loan credit agreement, dated as of March 29,
2021 (as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time), by and among Vistra Operations, as borrower, Vistra Intermediate, Royal Bank of Canada, as administrative agent and collateral
agent, and the other lenders party thereto, and (ii) to pay fees and expenses related to the offering. 
 1. Representations and
Warranties. Each of the Company and each of the Guarantors, jointly and severally, represents and warrants to, and agrees with, each Initial Purchaser as set forth below in this Section 1. 

(a) The Preliminary Memorandum, at the date thereof, did not contain any untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. At the Execution Time and on the Closing Date, the Final Memorandum did not and will not (and any amendment or supplement
thereto, at the date thereof and at the Closing Date will not) contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; provided, however, that the Company makes no representation or warranty as to the information contained in or omitted from the Preliminary Memorandum or the Final Memorandum, or any amendment or supplement thereto, in
reliance upon and in conformity with information furnished in writing to the Company by or on behalf of the Initial Purchasers through the Representative specifically for inclusion therein, it being understood and agreed that the only such
information furnished by or on behalf of any Initial Purchaser consists of the information described as such in Section 8(b) hereof. 

  
 -2- 

 (b) As of the Execution Time, neither (i) (1) the Disclosure Package and (2) each
electronic road show, when taken together as a whole with the Disclosure Package, nor (ii) any other General Solicitation (as defined below) by the Company, its Affiliates, or any person acting on its or their behalf, contains any untrue
statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in
or omissions from the Disclosure Package based upon and in conformity with written information furnished to the Company by any Initial Purchaser through the Representative specifically for use therein, it being understood and agreed that the only
such information furnished by or on behalf of any Initial Purchaser consists of the information described as such in Section 8(b) hereof. The term “Affiliates,” means affiliates, as such term is defined in Rule 501(b) of Regulation D
under the Securities Act (“Regulation D”), except that in reference to the Company, it excludes any person or entity that is an affiliate (as defined in Rule 501(b)) primarily or exclusively as a result of his, her or its ownership of
capital stock of the Parent. 
 (c) None of the Company, its Affiliates, or any person acting on its or their behalf has, directly or
indirectly, made offers or sales of any security, or solicited offers to buy, any security under circumstances that would require the registration of the Securities under the Securities Act. 

(d) None of the Company, its Affiliates, or any person acting on its or their behalf has: (i) engaged in any form of general solicitation
or general advertising (within the meaning of Regulation D) (each, a “General Solicitation”) in connection with any offer or sale of the Securities, other than any General Solicitation in respect of which the Representative has given
its prior written consent; provided that the prior written consent of the Representative shall be deemed to have been given in respect of the General Solicitation included in Schedule III hereto or (ii) engaged in any directed selling
efforts (within the meaning of Regulation S under the Securities Act (“Regulation S”)) with respect to the Securities; and each of the Company, its Affiliates and each person acting on its or their behalf has complied with the
offering restrictions requirement of Regulation S. 
 (e) The Securities satisfy the eligibility requirements of Rule 144A(d)(3) under
the Securities Act. 
 (f) The Parent is subject to and in full compliance with the reporting requirements of Section 13 or
Section 15(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (the “Exchange Act”). 

(g) No registration under the Securities Act of the Securities, and no qualification of the Indenture under the Trust Indenture Act of 1939,
as amended, is required for the offer and sale of the Securities to or by the Initial Purchasers in the manner contemplated herein, in the Disclosure Package and in the Final Memorandum. 

(h) Neither the Company nor any of the Guarantors is or, after giving effect to the offering and sale of the Securities and the application of
the proceeds thereof as described in the Disclosure Package and the Final Memorandum, will be an “investment company” as defined in the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder. 

  
 -3- 

 (i) Neither the Company nor any of the Guarantors (or any other person acting on its or
their behalf) has paid or agreed to pay to any person any compensation for soliciting another to purchase any securities of the Company (except as contemplated in this Agreement). 

(j) Neither the Company nor any of the Guarantors (or any other person acting on its or their behalf) has taken, directly or indirectly, any
action designed to or that has constituted or that might reasonably be expected to cause or result, under the Exchange Act or otherwise, in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of
the Securities. 
 (k) Each of the Company and each Guarantor has been duly incorporated or formed, as applicable, and is validly existing
as a corporation or limited liability company in good standing under the laws of the jurisdiction in which it is incorporated, chartered, organized or formed with full corporate or limited liability company, as applicable, power and authority
necessary to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Disclosure Package and the Final Memorandum, and is duly qualified to do business as a foreign corporation or limited liability
company, as applicable, and is in good standing under the laws of each jurisdiction that requires such qualification. 
 (l) The Company has
the authorized capitalization set forth in the Disclosure Package and the Final Memorandum. 
 (m) All the outstanding shares of capital
stock or ownership interests of the Company and each of its subsidiaries have been duly authorized and validly issued and are fully paid and nonassessable, and, except (i) as otherwise set forth in the Disclosure Package and the Final
Memorandum and (ii) for Vistra Preferred Inc. and its subsidiaries, all outstanding shares of capital stock or ownership interests of the subsidiaries are owned by the Company either directly or through wholly owned subsidiaries free and clear
of any security interest, claim, lien or encumbrance. 
 (n) The statements in the Preliminary Memorandum and the Final Memorandum under the
headings “Certain U.S. Federal Income Tax Considerations”, “Certain ERISA Considerations”, “Description of the Notes” and “Description of Other Indebtedness” fairly summarize the matters therein described.

 (o) This Agreement has been duly authorized, executed and delivered by each of the Company and each Guarantor; the Indenture has been
duly authorized by the Company and each Guarantor and, assuming due authorization, execution and delivery thereof by the Trustee, when executed and delivered by each of the Company and each Guarantor, will constitute a legal, valid, binding
instrument enforceable against the Company and each Guarantor in accordance with its terms (subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors’ rights
generally from time to time in effect and to general principles of equity); and the Securities have been duly authorized, and, when executed and authenticated in accordance with the provisions of the

  
 -4- 

 
Indenture and delivered to and paid for by the Initial Purchasers, will have been duly executed and delivered by the Company and will constitute the legal, valid and binding obligations of the
Company entitled to the benefits of the Indenture (subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors’ rights generally from time to time in effect and
to general principles of equity). 
 (p) The Guarantees have been duly authorized, and, when the Securities have been executed and delivered
by the Company in accordance with the provisions of the Indenture, will constitute the legal, valid and binding obligations of the Guarantors entitled to the benefits of the Indenture (subject, as to the enforcement of remedies, to applicable
bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors’ rights generally from time to time in effect and to general principles of equity). 

(q) No consent, approval, authorization, filing with or order of any court or governmental agency or body is required in connection with the
transactions contemplated herein or in the Indenture, except such as may be required under the blue sky laws of any jurisdiction in which the Securities are offered and sold. 

(r) None of the execution and delivery of this Agreement or the Indenture, the issuance and sale of the Securities and the Guarantees, the
performance by the Company or any Guarantor of its respective obligations under this Agreement or the consummation of any other of the transactions herein or therein contemplated, or the fulfillment of the terms hereof or thereof will conflict with
or will result in a breach or violation of, or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, (i) the charter or by-laws
or comparable constituting documents of the Company or any of its subsidiaries; (ii) the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or other agreement, obligation, condition, covenant or
instrument to which the Company or any of its subsidiaries is a party or bound or to which its or their property is subject; or (iii) any statute, law, rule, regulation, judgment, order or decree of any court, regulatory body, administrative
agency, governmental body, arbitrator or other authority having jurisdiction over the Company or any of its subsidiaries or any of its or their properties, which conflict, breach, violation or imposition would, in the case of clauses (ii) and
(iii) above, either individually or in the aggregate with all other conflicts, breaches, violations and impositions referred to in this paragraph (r) (if any), have (x) a Material Adverse Effect (as defined below) or (y) a material adverse
effect upon the transactions contemplated herein. 
 (s) The consolidated historical financial statements and schedules of the Parent and
its consolidated subsidiaries included or incorporated by reference in the Disclosure Package and the Final Memorandum present fairly the financial condition, results of operations and cash flows of the Parent as of the dates and for the
periods indicated, comply as to form with the applicable accounting requirements of Regulation S-X (as defined below) and have been prepared in conformity with generally accepted accounting principles
in the United States applied on a consistent basis throughout the periods involved (except as otherwise noted therein); the selected financial data set forth under the caption “Summary Historical Consolidated Financial Information”
in the Preliminary Memorandum and the Final Memorandum fairly present, on the basis stated in the Preliminary Memorandum and the Final Memorandum, the information included or incorporated by reference therein and no other financial statements
would be required to be set forth in a registration statement or prospectus under the Securities Act. 

  
 -5- 

 (t) No action, suit or proceeding by or before any court or governmental agency, authority
or body or any arbitrator involving the Company or any of its subsidiaries or its or their property is pending or, to the best knowledge of the Company, threatened that (i) could reasonably be expected to have a material adverse effect on the
performance by the Company or any of the Guarantors of this Agreement, the Indenture or the consummation of any of the transactions contemplated hereby or thereby or (ii) could reasonably be expected to have a material adverse effect on
the condition (financial or otherwise), prospects, business or properties of the Company and its subsidiaries, taken as a whole, whether or not arising from transactions in the ordinary course of business (clauses (i) and (ii), a “Material
Adverse Effect”), except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 

(u) (i) Each of the Company and its subsidiaries has good and marketable title to all the properties (real and personal) described in the
Disclosure Package and the Final Memorandum as being owned by any of them, in each case, free and clear of any liens, equities, claims and other defects (except as may exist under applicable law and as may be imposed by the Company’s credit
facilities described in the Disclosure Package and the Final Memorandum or as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and its
subsidiaries); and (ii) all the property described in the Disclosure Package and the Final Memorandum as being held under lease by the Company or its subsidiaries is held thereby under valid, subsisting and enforceable leases, except, in the
case of clause (i) or (ii), as would not, individually or in the aggregate, have a Material Adverse Effect. 
 (v) Neither the Company
nor any of its subsidiaries is in violation or default of (i) any provision of its charter or bylaws or comparable constituting documents; (ii) the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan
agreement or other agreement, obligation, condition, covenant or instrument to which it is a party or bound or to which its property is subject; or (iii) any statute, law, rule, regulation, judgment, order or decree applicable to the Company or
any of its subsidiaries of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Company or such subsidiary or any of its properties, as applicable, except, in the case of
clauses (ii) and (iii), as would not, individually or in the aggregate, have a Material Adverse Effect. 
 (w) Deloitte &
Touche LLP, which has certified certain financial statements of the Parent and its consolidated subsidiaries, and which has delivered its report with respect to the applicable audited consolidated financial statements and schedules included or
incorporated by reference in the Disclosure Package and the Final Memorandum, are independent public accountants with respect to the Parent in accordance with local accounting rules and within the meaning of the Securities Act. 

(x) There are no stamp or other issuance or transfer taxes or duties or other similar fees or charges required to be paid in connection with
the execution and delivery of this Agreement or the issuance or sale of the Securities. 

  
 -6- 

 (y) The Company and each of its subsidiaries has filed all applicable tax returns that are
required to be filed or has requested extensions thereof (except in any case in which the failure so to file would not have a Material Adverse Effect and except as set forth in or contemplated in the Disclosure Package and the Final Memorandum
(exclusive of any amendment or supplement thereto)) and has paid all taxes required to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing is due and payable, except for any such
assessment, fine or penalty that is currently being contested in good faith or as would not have a Material Adverse Effect and except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or
supplement thereto). 
 (z) No labor problem or dispute with the employees of the Company or any of its subsidiaries exists or, to the
knowledge of the Company, is threatened or imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries’ principal suppliers, contractors or customers, except as would
not have a Material Adverse Effect and except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 

(aa) Except pursuant to applicable law or the Credit Agreement, no subsidiary of the Company is currently prohibited, directly or indirectly,
from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such
subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated in the Disclosure Package or the Final Memorandum (in each case, exclusive of any amendment or supplement thereto).

 (bb) The Company and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as are prudent and customary in the businesses in which they are engaged; all policies of insurance and fidelity or surety bonds insuring the Company or any of its subsidiaries or their respective businesses, assets,
employees, officers and directors are in full force and effect; the Company and its subsidiaries are in compliance in all material respects with the terms of such policies and instruments; there are no claims by the Company or any of its
subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; neither the Company nor any of its subsidiaries has been refused any insurance coverage sought
or applied for; and neither the Company nor any of its subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as
may be necessary to continue its business at a cost that would not have a Material Adverse Effect except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 

(cc) The Company and its subsidiaries possess all licenses, certificates, permits and other authorizations issued by all applicable
authorities necessary to conduct their respective businesses, and neither the Company nor any of its subsidiaries has received any written notice of proceedings relating to the revocation or modification of any such certificate, authorization or
permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or 

  
 -7- 

 
finding, would have a Material Adverse Effect, except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 

(dd) The Parent has established and maintains a system of internal control over financial reporting (to the extent required by and as such
term is defined in Rule 13a-15(f) under the Exchange Act) that complies with the requirements of the Exchange Act applicable to the Parent and has been designed by the Parent’s principal executive officer
and principal financial officer, or under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles as applied in the United States; the Parent’s internal control over financial reporting is effective; and the Parent is not aware of any material weaknesses in its internal control over financial reporting. 

(ee) The Parent maintains disclosure controls and procedures (as such term is defined in Rule
13a-15(e) under the Exchange Act) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that material information relating to the Parent
and its subsidiaries is made known to the Parent’s principal executive officer and principal financial officer by others within those entities; and such disclosure controls and procedures are effective. 

(ff) The Company and its subsidiaries (i) are in compliance with any and all applicable laws and regulations relating to the protection
of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”); (ii) have received and are in compliance with all permits, licenses or other approvals required of
them under applicable Environmental Laws to conduct their respective businesses; and (iii) have not received written notice of any actual or potential liability under any Environmental Law, except with respect to (i) through (iii) above
where such non-compliance with Environmental Laws, failure to receive or comply with required permits, licenses or other approvals, or liability would not, individually or in the aggregate, have a Material Adverse Effect, except as set forth in or
contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). Except as would not, individually or in the aggregate, have a Material Adverse Effect, except as set forth in the Disclosure Package
and the Final Memorandum, neither the Company nor any of its subsidiaries has been named as a “potentially responsible party” under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended. 

(gg) In the ordinary course of its business, the Company periodically reviews the effect of Environmental Laws on the business, operations and
properties of the Company and its subsidiaries, in the course of which it identifies and evaluates associated costs and liabilities (including, without limitation, any capital or operating expenditures required for
clean-up, closure of properties or compliance with Environmental Laws, or any environmental permit, license or approval, any related constraints on operating activities and any potential environmental
liabilities to third parties); on the basis of such review, the Company has reasonably concluded that such associated costs and liabilities would not, singly or in the aggregate, have a Material Adverse Effect, except as set forth in or contemplated
in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 

  
 -8- 

 (hh) The minimum funding standard under Section 302 of the Employee Retirement Income
Security Act of 1974, as amended, and the regulations and published interpretations thereunder (“ERISA”), has been satisfied by each “pension plan” (as defined in Section 3(2) of ERISA) that has been established or
maintained by the Company and/or one or more of its subsidiaries, and the trust forming part of each such plan which is intended to be qualified under Section 401 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated
thereunder is so qualified; each of the Company and its subsidiaries has fulfilled its obligations, if any, under Section 515 of ERISA; neither the Company nor any of its subsidiaries maintains or is required to contribute to a “welfare
plan” (as defined in Section 3(1) of ERISA) that provides retiree or other post-employment welfare benefits or insurance coverage (other than “continuation coverage” (as defined in Section 602 of ERISA)); each pension plan
and welfare plan established or maintained by the Company and/or one or more of its subsidiaries is in compliance in all material respects with the currently applicable provisions of ERISA; and neither the Company nor any of its subsidiaries has
incurred or could reasonably be expected to incur any withdrawal liability under Section 4201 of ERISA, any liability under Section 4062, 4063, or 4064 of ERISA, or any other liability under Title IV of ERISA. 

(ii) The subsidiaries listed on Annex A attached hereto are the only “significant subsidiaries” of the Company (as defined in Rule 1-02 of Regulation S-X under the Securities Act (“Regulation S-X”)). 

(jj) The Company will not take, directly or indirectly, any action or omit to take any action (such as issuing any press release relating to
the Securities without an appropriate legend) that would result in the loss by the Initial Purchasers of the ability to rely on the stabilization safe harbor provided by (i) article 5 of the Market Abuse Regulation (EU) No 596/2014 and
Commission Delegated Regulation (EU) 2016/1052 or (ii) the UK Financial Conduct Authority under section 137Q of the Financial Services and Markets Act 2000. 

(kk) The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial
recordkeeping and reporting requirements and applicable money laundering statutes and the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency
(collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money
Laundering Laws is pending or, to the knowledge of the Company, threatened. 
 (ll) Neither the Company nor any of its subsidiaries nor, to
the knowledge of the Company, any director, officer, agent, employee or Affiliate of the Company or any of its subsidiaries (i) is, or is controlled or 50% or more owned in the aggregate by or is acting on behalf of, one or more individuals or
entities that are currently the subject of any sanctions administered or enforced by the United States (including any administered or enforced by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of
State or the Bureau of Industry and Security of the U.S. Department of Commerce), the United 

  
 -9- 

 
Nations Security Council, the European Union, a member state of the European Union, the United Kingdom (including sanctions administered or enforced by Her Majesty’s Treasury) or other
relevant sanctions authority (collectively, “Sanctions” and such persons, “Sanctioned Persons” and each such person, a “Sanctioned Person”), (ii) is located, organized or resident in a country or territory that is, or
whose government is, the subject of Sanctions that broadly prohibit dealings with that country or territory (collectively, “Sanctioned Countries” and each, a “Sanctioned Country”) or (iii) will, directly or indirectly, use
the proceeds of this offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other individual or entity in any manner that would result in a violation of any Sanctions by, or could result
in the imposition of Sanctions against, any individual or entity (including any individual or entity participating in the offering, whether as underwriter, advisor, investor or otherwise). 

(mm) Neither the Company nor any of its subsidiaries has engaged in any dealings or transactions with or for the benefit of a Sanctioned
Person, or with or in a Sanctioned Country, in the three years preceding the date hereof, nor does the Company or any of its subsidiaries have any plans to engage in dealings or transactions with or for the benefit of a Sanctioned Person, or with or
in a Sanctioned Country.  
 (nn) There is and has been no failure on the part of the Parent or any of the Parent’s directors or
officers, in their respective capacities as such, to comply with any applicable provision of the Sarbanes-Oxley Act of 2002 and the applicable rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Act”), including
Section 402 relating to loans and Sections 302 and 906 relating to certifications. 
 (oo) Neither the Company nor any of its
subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee, Affiliate or other person acting on behalf of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that could
result in a violation or a sanction for violation by any such person or entity of the Foreign Corrupt Practices Act of 1977 or the U.K. Bribery Act 2010, each as may be amended, or similar applicable law of any other relevant jurisdiction, or the
applicable rules or regulations thereunder; and the Company and its subsidiaries have instituted and maintain policies and procedures to ensure compliance therewith. No part of the proceeds of the offering will be used, directly or indirectly, in
violation of the Foreign Corrupt Practices Act of 1977 or the U.K. Bribery Act 2010, each as may be amended, or similar applicable law of any other relevant jurisdiction, or the applicable rules or regulations thereunder. 

(pp) Except as disclosed in the Preliminary Memorandum and the Final Memorandum, the Company (i) does not have any material lending or
other relationship with any Initial Purchaser or Affiliate of any Initial Purchaser and (ii) does not intend to use any of the proceeds from the sale of the Securities hereunder to repay any outstanding debt owed to any Affiliate of any Initial
Purchaser. 
 Any certificate signed by any officer of the Company and delivered to the Representative or counsel for the Initial Purchasers as required by
this Agreement or the Indenture in connection with the offering of the Securities contemplated hereby shall be deemed a representation and warranty by the Company, as to matters covered thereby, to each Initial Purchaser. 

  
 -10- 

 2. Purchase and Sale. Subject to the terms and conditions and in reliance upon the
representations and warranties herein set forth, the Company agrees to sell to each Initial Purchaser, and each Initial Purchaser agrees, severally and not jointly, to purchase from the Company, at a purchase price equal to 99.000% of the principal
amount of the Securities set forth opposite such Initial Purchaser’s name in Schedule I hereto, plus accrued interest, if any, on such Securities from May 10, 2021 to, but excluding, the Closing Date. 

3. Delivery and Payment. Delivery of and payment for the Securities shall be made at 9:30 A.M., New York City time, on May 10,
2021, or at such time on such later date not more than ten Business Days after the foregoing date as the Representative shall designate, which date and time may be postponed by agreement between the Representative and the Company or as provided in
Section 9 hereof (such date and time of delivery and payment for the Securities being herein called the “Closing Date”). As used herein, “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or
a day on which banking institutions or trust companies are authorized or obligated by law to close in The City of New York. Delivery of the Securities shall be made to the Representative for the respective accounts of the several Initial Purchasers
against payment by the several Initial Purchasers through the Representative of the purchase price thereof to or upon the order of the Company by wire transfer payable in same-day funds to the account
specified by the Company. Delivery of the Securities shall be made through the facilities of The Depository Trust Company unless the Representative shall otherwise instruct. 

4. Offering by Initial Purchasers. (a) Each Initial Purchaser acknowledges that the Securities have not been and will not be
registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. 
 (b) Solely in connection with the offering of the Securities, each Initial Purchaser, severally and
not jointly, represents and warrants to and agrees with the Company that: 
 (i) it has not offered or sold, and will not
offer or sell, any Securities within the United States or to, or for the account or benefit of, U.S. persons (x) as part of their distribution at any time or (y) otherwise until 40 days after the later of the commencement of the offering
and the date of the closing of the offering except: 
  

	 	(A)	 in the case of sales to those it reasonably believes to be “qualified institutional buyers” as
permitted by Rule 144A under the Securities Act; or 

  

	 	(B)	 in accordance with Rule 903 of Regulation S; 

(ii) neither it nor any person acting on its behalf has made or will make offers or sales of the Securities in the United
States by means of General Solicitation, other than any General Solicitation included in Schedule III hereto; 

  
 -11- 

 (iii) in connection with each sale pursuant to Section 4(b)(i)(A), it
has taken or will take reasonable steps to ensure that the purchaser of such Securities is aware that such sale may be made in reliance on Rule 144A; 

(iv) neither it, nor any of its Affiliates nor any person acting on its or their behalf has engaged or will engage in any
directed selling efforts (within the meaning of Regulation S) with respect to the Securities; 
 (v) it is an
“accredited investor” (as defined in Rule 501(a) of Regulation D); 
 (vi) it has complied and will comply with the
offering restrictions requirement of Regulation S; 
 (vii) at or prior to the confirmation of sale of Securities (other
than a sale of Securities pursuant to Section 4(b)(i)(A) of this Agreement), it shall have sent to each distributor, dealer or person receiving a selling concession, fee or other remuneration that purchases Securities from it during the
distribution compliance period (within the meaning of Regulation S) a confirmation or notice to substantially the following effect: 

“The Securities covered hereby have not been registered under the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder (the “Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or (ii) otherwise until 40
days after the later of the commencement of the offering and the date of closing of the offering, except in either case in accordance with Regulation S or Rule 144A under the Securities Act. Additional restrictions on the offer and sale of the
Securities are described in the offering memorandum for the Securities. Terms used in this paragraph have the meanings given to them by Regulation S.”; 

(viii) it has only communicated or caused to be communicated and will only communicate or cause to be communicated any
invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 (the “FSMA”)) received by it in connection with the issue or sale of any Securities, in
circumstances in which Section 21(1) of the FSMA does not apply to the Company; 
 (ix) it has complied and will comply
with all applicable provisions of the FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom; 

(x) it acknowledges that additional restrictions on the offer and sale of the Securities are described in the Disclosure
Package and the Final Memorandum; and 

  
 -12- 

 (xi) in relation to each Member State of the European Economic Area, it has
not offered, sold or otherwise made available and will not offer, sell or otherwise make available, any Securities to any retail investor in the European Economic Area. For the purposes of this provision the expression “retail investor”
means a person who is one (or more) of the following: 
  

	 	(A)	 a retail client as defined in point (11) of Article 4(1) of Directive 2014/5/EU (as amended, “MiFID
II”); or 

  

	 	(B)	 a customer within the meaning of Directive 2002/92/EC (as amended, the “Insurance Mediation
Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or 

  

	 	(C)	 not a qualified investor as defined in Directive 2003/71/EC (as amended, the “Prospectus Directive”);
and 

 the expression “offer” includes the communication in any form and by any means of sufficient information
on the terms of the offer and the notes to be offered so as to enable an investor to decide to purchase or subscribe for the Securities. 

5. Agreements. The Company and each of the Guarantors, jointly and severally, agree with each Initial Purchaser that: 

(a) The Company will furnish to each Initial Purchaser and to counsel for the Initial Purchasers, without charge, during the period referred
to in Section 5(c) below, as many copies of the materials contained in the Disclosure Package and the Final Memorandum and any amendments and supplements thereto as the Initial Purchasers may reasonably request. 

(b) The Company will prepare a final term sheet, containing solely a description of final terms of the Securities and the offering thereof, in
the form approved by you and attached as Schedule II hereto. 
 (c) The Company will not amend or supplement the Disclosure Package or the
Final Memorandum other than by the Parent filing documents under the Exchange Act that are incorporated by reference therein without the prior written consent of the Representative (such consent not to be unreasonably withheld, conditioned or
delayed); provided, however, that prior to the completion of the distribution of the Securities by the Initial Purchasers (as defined by the opinion of counsel (including internal counsel) to the Initial Purchasers), the Company shall
ensure that no document be filed under the Exchange Act that is incorporated by reference in the Disclosure Package or the Final Memorandum unless, prior to such proposed filing, the Company has provided the Representative with a copy of such
document for their review and the Representative has not reasonably objected to the filing of such document. The Company will promptly advise the Representative when any document filed under the Exchange Act that is incorporated by reference in the
Disclosure Package of the Final Memorandum shall have been filed with the Securities and Exchange Commission (the “Commission”). 

  
 -13- 

 (d) If at any time prior to the completion of the sale of the Securities by the Initial
Purchasers, any event occurs as a result of which the Disclosure Package or the Final Memorandum, as then amended or supplemented, would include any untrue statement of a material fact or omit to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made or the circumstances then prevailing, not misleading, or if it should be necessary to amend or supplement the Disclosure Package or the Final Memorandum to comply with
applicable law, the Company will promptly (i) notify the Representative of any such event; (ii) subject to the requirements of Section 5(c), prepare an amendment or supplement that will correct such statement or omission or effect
such compliance; and (iii) supply any supplemented or amended Disclosure Package or Final Memorandum to the several Initial Purchasers and counsel for the Initial Purchasers without charge in such quantities as they may reasonably request. 

(e) Without the prior written consent of the Representative, the Company has not given and will not give to any prospective purchaser of the
Securities any written information concerning the offering of the Securities other than materials contained in the Disclosure Package, the Final Memorandum or any other offering materials prepared by or with the prior written consent of the
Representative. 
 (f) The Company will arrange, if necessary, for the qualification of the Securities for sale by the Initial Purchasers
under the laws of such jurisdictions as the Representative may designate (including certain provinces of Canada) and will maintain such qualifications in effect so long as required for the sale of the Securities; provided that in no event
shall the Company be obligated to (i) qualify to do business in any jurisdiction where it is not now so qualified, (ii) subject itself to taxation in any jurisdiction where it is not presently so subject or (iii) take any action that
would subject it to service of process in suits, other than those arising out of the offering or sale of the Securities, in any jurisdiction where it is not now so subject. The Company will promptly advise the Representative of the receipt by the
Company of any notification with respect to the suspension of the qualification of the Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose. 

(g) The Company will not, and will not permit any of its Affiliates to, resell any Securities that have been acquired by any of them and that
constitute “restricted securities” under Rule 144 under the Securities Act. 
 (h) None of the Company, its Affiliates, or any
person acting on its or their behalf will, directly or indirectly, make offers or sales of any security, or solicit offers to buy any security, under circumstances that, as a result of the doctrine of “integration” referred to in Rule 502
under the Securities Act, would require the registration of the Securities under the Securities Act. 
 (i) None of the Company, its
Affiliates, or any person acting on its or their behalf will engage in any directed selling efforts (within the meaning of Regulation S) with respect to the Securities; and each of them will comply with the offering restrictions requirement of
Regulation S. 

  
 -14- 

 (j) None of the Company, its Affiliates, or any person acting on its or their behalf will
engage in any General Solicitation with respect to the offer or sale of the Securities, other than any General Solicitation in respect of which the Representative has given its prior written consent; provided that the prior written consent of
the Representative shall be deemed to have been given in respect of the General Solicitation included in Schedule III hereto. 
 (k) For so
long as any of the Securities are outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company, during any period in which it is not subject to and in compliance with
Section 13 or 15(d) of the Exchange Act, will provide to each holder of such restricted securities and to each prospective purchaser (as designated by such holder) of such restricted securities, upon the request of such holder or prospective
purchaser, any information required to be provided by Rule 144A(d)(4) under the Securities Act. This covenant is intended to be for the benefit of the holders, and the prospective purchasers designated by such holders, from time to time of such
restricted securities. 
 (l) The Company will cooperate with the Representative and use its best efforts to permit the Securities to be
eligible for clearance and settlement through The Depository Trust Company. 
 (m) The Company will use the net proceeds received from the
sale of the Securities pursuant to this Agreement in the manner specified in the Disclosure Package and the Final Memorandum. 
 (n) Each of
the Securities will bear, to the extent applicable, the legend contained in “Notice to Investors” in the Preliminary Memorandum and the Final Offering Memorandum for the time period and upon the other terms stated therein. 

(o) The Company will not for a period of 30 days following the Execution Time, without the prior written consent of J.P. Morgan Securities LLC
(“J.P. Morgan”), offer, sell, contract to sell, pledge, otherwise dispose of, or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective
economic disposition due to cash settlement or otherwise) by the Company or any Affiliate of the Company or any person in privity with the Company or any Affiliate of the Company, directly or indirectly, or announce the offering, of any debt
securities issued or guaranteed by the Company (other than the Securities). 
 (p) The Company will not take, directly or indirectly, any
action designed to, or that has constituted or that might reasonably be expected to, cause or result, under the Exchange Act or otherwise, in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale
of the Securities. 
 (q) The Company will furnish to the Representative at any time when any Securities remain outstanding, copies of all
materials required to be delivered under the Indenture to holders of such Securities, except to the extent such materials are filed by the Company with the Commission and are publicly available. 

  
 -15- 

 (r) The Company shall ensure that the Parent complies with all applicable securities and
other laws, rules and regulations, including, without limitation, the Sarbanes-Oxley Act, and use its best efforts to cause the Parent’s directors and officers, in their respective capacities as such, to comply with such laws, rules and
regulations, including, without limitation, the provisions of the Sarbanes-Oxley Act. 
 The Company and each of the Guarantors, jointly and
severally, agree to pay the costs and expenses relating to the following matters: (i) the preparation of the Indenture and the issuance of the Securities and the Guarantees and the fees of the Trustee; (ii) the preparation, printing or
reproduction of the materials contained in the Disclosure Package and the Final Memorandum and each amendment or supplement to either of them; (iii) the printing (or reproduction) and delivery (including postage, air freight charges and charges
for counting and packaging) of such copies of the materials contained in the Disclosure Package and the Final Memorandum, and all amendments or supplements to either of them, as may, in each case, be reasonably requested for use in connection with
the offering and sale of the Securities and the Guarantees; (iv) the preparation, printing, authentication, issuance and delivery of the Securities; (v) any stamp or transfer taxes in connection with the original issuance and sale of the
Securities; (vi) the printing (or reproduction) and delivery of this Agreement, any blue sky memorandum and all other agreements or documents printed (or reproduced) and delivered in connection with the offering of the Securities and the
Guarantees; (vii) any registration or qualification of the Securities and the Guarantees for offer and sale under the securities or blue sky laws of the several states, the provinces of Canada and any other jurisdictions specified pursuant to
Section 5(e) (including filing fees and the reasonable fees and expenses of counsel for the Initial Purchasers relating to such registration and qualification); (viii) the transportation and other expenses incurred by or on behalf of Company
representatives in connection with presentations to prospective purchasers of the Securities; (ix) the fees and expenses of the Company’s accountants and the fees and expenses of counsel (including local and special counsel) for the
Company; and (x) all other costs and expenses incident to the performance by the Company of its obligations hereunder. 
 6.
Conditions to the Obligations of the Initial Purchasers. The obligations of the Initial Purchasers to purchase the Securities shall be subject to the accuracy of the representations and warranties of the Company and the Guarantors contained
herein at the Execution Time and the Closing Date, to the accuracy of the statements of the Company and the Guarantors made in any certificates delivered pursuant to the provisions hereof, to the performance by the Company and the Guarantors of
their respective obligations hereunder and to the following additional conditions: 
 (a) The Company shall have requested and caused
(i) Sidley Austin LLP, counsel for the Company, to furnish to the Representative its opinion and negative assurance letter, each dated the Closing Date and addressed to the Representative, substantially in the form of Exhibit A-1 hereto and (ii) Vinson & Elkins LLP, tax counsel for the Company, to furnish to the Representative its opinion, dated as of the Closing Date and addressed to the Representative,
substantially in the form of Exhibit A-2 hereto. 

  
 -16- 

 (b) The Company shall have requested and caused the general counsel of the Company to
furnish the Representative an opinion, dated the Closing Date and addressed to the Representative, substantially in the form of Exhibit B hereto. 

(c) The Representative shall have received from Sullivan & Cromwell LLP, counsel for the Initial Purchasers, such opinion or
opinions, dated the Closing Date and addressed to the Representative, with respect to the issuance and sale of the Securities, the Indenture, the Disclosure Package, the Final Memorandum (as amended or supplemented at the Closing Date) and other
related matters as the Representative may reasonably require, and the Company shall have furnished to such counsel such documents as they request for the purpose of enabling them to pass upon such matters. 

(d) The Company shall have furnished to the Representative a certificate of the Company, signed by (x) the chief executive officer of the
Company and (y) the principal financial or accounting officer of the Company, dated the Closing Date, to the effect that the signers of such certificate have carefully examined the Disclosure Package and the Final Memorandum and any supplements
or amendments thereto and this Agreement and that: 
 (i) the representations and warranties of the Company and the
Guarantors in this Agreement are true and correct on and as of the Closing Date with the same effect as if made on the Closing Date, and the Company and the Guarantors have complied with all the agreements and satisfied all the conditions on its
part to be performed or satisfied hereunder at or prior to the Closing Date; and 
 (ii) since the date of the most recent
financial statements included in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto), there has been no material adverse change in the condition (financial or otherwise), prospects, business or
properties of the Company and its subsidiaries, taken as a whole, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of
any amendment or supplement thereto). 
 (e) At the Execution Time and at the Closing Date, (i) the Company shall have requested and
caused Deloitte & Touche LLP to furnish to the Representative customary comfort letters, dated respectively as of the Execution Time and as of the Closing Date, in form and substance reasonably satisfactory to the Representative and
confirming that they are independent accountants within the meaning of the Exchange Act and the applicable published rules and regulations thereunder and (ii) the Company shall have furnished to the Representative a certificate of its chief
financial officer, dated respectively as of the Execution Time and as of the Closing Date, in form and substance satisfactory to the Representative and providing “management comfort” with respect to certain financial information contained
in the Disclosure Package and the Final Memorandum. 
 (f) Subsequent to the Execution Time or, if earlier, the dates as of which
information is given in the Disclosure Package (exclusive of any amendment or supplement 

  
 -17- 

 
thereto) and the Final Memorandum (exclusive of any amendment or supplement thereto), there shall not have been (i) any change or decrease specified in the letter or letters referred to in
paragraph (f) of this Section 6; or (ii) any change, or any development involving a prospective change, in or affecting the condition (financial or otherwise), prospects, business or properties of the Company and its subsidiaries
taken as a whole, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto), the effect
of which, in any case referred to in clause (i) or (ii) above, is, in the sole judgment of the Representative, so material and adverse as to make it impractical or inadvisable to proceed with the offering or delivery of the Securities as
contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 
 (g) The Securities
shall be eligible for clearance and settlement through The Depository Trust Company. 
 (h) Subsequent to the Execution Time, there shall
not have been any decrease in the rating of any of the Company’s or the Parent’s debt securities by any “nationally recognized statistical rating organization” (as defined for purposes of Rule 3(a)(62) under the Exchange
Act) or any notice given of any intended or potential decrease in any such rating or of a possible change in any such rating that does not indicate the direction of the possible change. 

(i) Prior to the Closing Date, the Company shall have furnished to the Representative such further information, certificates and documents as
the Representative may reasonably request. 
 If any of the conditions specified in this Section 6 shall not have been fulfilled when
and as provided in this Agreement, or if any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Representative and counsel for the Initial Purchasers,
this Agreement and all obligations of the Initial Purchasers hereunder may be cancelled at, or at any time prior to, the Closing Date by the Representative. Notice of such cancellation shall be given to the Company in writing or by telephone or
facsimile confirmed in writing. 
 The documents required to be delivered by this Section 6 will be delivered at the office of counsel
for the Initial Purchasers, at 1888 Century Park East, Suite 2100, Los Angeles, California 90067, on the Closing Date. 
 7.
Reimbursement of Expenses. If the sale of the Securities provided for herein is not consummated because any condition to the obligations of the Initial Purchasers set forth in Section 6 hereof is not satisfied, because of any termination
pursuant to Section 10 hereof or because of any refusal, inability or failure on the part of the Company to perform any agreement herein or comply with any provision hereof other than by reason of a default by any of the Initial Purchasers, the
Company will reimburse the Initial Purchasers severally through J.P. Morgan on demand for all reasonable and documented expenses (including reasonable fees and disbursements of counsel) that shall have been incurred by them in connection with the
proposed purchase and sale of the Securities. 

  
 -18- 

 8. Indemnification and Contribution. (a) The Company and the Guarantors, jointly
and severally, agree to indemnify and hold harmless each Initial Purchaser, the directors, officers, employees, Affiliates and agents of each Initial Purchaser and each person who controls any Initial Purchaser within the meaning of either the
Securities Act or the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or other U.S. federal or state statutory law
or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities or actions in respect thereof arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the
Preliminary Memorandum, the Final Memorandum, any Issuer Written Information, any General Solicitation, any document listed on Schedule IV hereto or any other written information used by or on behalf of the Company or the Guarantors in connection
with the offer or sale of the Securities, or in any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with
investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company and the Guarantors will not be liable in any such case to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made in the Preliminary Memorandum, the Final Memorandum, or in any amendment thereof or supplement thereto, in reliance upon and in
conformity with written information furnished to the Company by or on behalf of any Initial Purchaser through the Representative specifically for inclusion therein. This indemnity agreement will be in addition to any liability that the Company or
the Guarantors may otherwise have. 
 (b) Each Initial Purchaser severally, and not jointly, agrees to indemnify and hold harmless the
Company, each Guarantor, their respective directors and officers, and each person who controls the Company or the Guarantors within the meaning of either the Securities Act or the Exchange Act, to the same extent as the foregoing indemnity to each
Initial Purchaser, but only with reference to written information relating to such Initial Purchaser furnished to the Company by or on behalf of such Initial Purchaser through the Representative specifically for inclusion in the Preliminary
Memorandum or the Final Memorandum (or in any amendment or supplement thereto). This indemnity agreement will be in addition to any liability that any Initial Purchaser may otherwise have. The Company and the Guarantors acknowledge that (i) the
statements set forth in the last paragraph of the cover page regarding delivery of the Securities and (ii) under the heading “Plan of Distribution”, the eighth and ninth paragraphs related to covering and stabilizing
transactions in the Preliminary Memorandum and the Final Memorandum constitute the only information furnished in writing by or on behalf of the Initial Purchasers for inclusion in the Preliminary Memorandum or the Final Memorandum or in any
amendment or supplement thereto. 
 (c) Promptly after receipt by an indemnified party under this Section 8 of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement thereof; but the failure so
to notify the indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not 

  
 -19- 

 
otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the
indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel (including local counsel) of the
indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and
expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as set forth below); provided, however, that such counsel shall be reasonably
satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified party in an action, the indemnified party shall have the right to employ separate
counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would
present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded
upon the advice of counsel that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have
employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party
to employ separate counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any
pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such
settlement, compromise or consent: (i) includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and (ii) does not include a statement as to or an admission of
fault, culpability or a failure to act, by or on behalf of any indemnified party. 
 (d) In the event that the indemnity provided in
paragraph (a) or (b) of this Section 8 is unavailable to or insufficient to hold harmless an indemnified party for any reason, the Company and the Guarantors, jointly and severally, and the Initial Purchasers severally agree to
contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection with investigating or defending any loss, claim, damage, liability or action) (collectively “Losses”)
to which the Company and the Guarantors and one or more of the Initial Purchasers may be subject in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors on the one hand and by the Initial
Purchasers on the other from the offering of the Securities. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the Company and the Guarantors, jointly and severally, and the Initial Purchasers severally
shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company and the Guarantors on the one hand and the Initial Purchasers on the other in connection with the statements
or omissions that resulted in such Losses, as well as any other relevant equitable considerations. Benefits received by the Company and the Guarantors shall be 

  
 -20- 

 
deemed to be equal to the total net proceeds from the offering (before deducting expenses) received by the Company, and benefits received by the Initial Purchasers shall be deemed to be equal to
the total purchase discounts and commissions. Relative fault shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact
relates to information provided by the Company and the Guarantors on the one hand or the Initial Purchasers on the other, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue
statement or omission. The Company, the Guarantors and the Initial Purchasers agree that it would not be just and equitable if contribution were determined by pro rata allocation or any other method of allocation that does not take account of the
equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), in no event shall any Initial Purchaser be required to contribute any amount in excess of the amount by which the total purchase discounts and
commissions received by such Initial Purchaser with respect to the offering of the Securities exceeds the amount of any damages that such Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 8, each person who controls an Initial Purchaser within the meaning of either the Securities Act or the Exchange Act and each director, officer, employee, Affiliate and agent of an Initial
Purchaser shall have the same rights to contribution as such Initial Purchaser, and each person who controls the Company and the Guarantors within the meaning of either the Securities Act or the Exchange Act and each officer and director of the
Company and the Guarantors shall have the same rights to contribution as the Company and the Guarantors, subject in each case to the applicable terms and conditions of this paragraph (d). 

9. Default by an Initial Purchaser. If any one or more Initial Purchasers shall fail to purchase and pay for any of the Securities
agreed to be purchased by such Initial Purchaser hereunder and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement, the remaining Initial Purchasers shall be obligated severally to
take up and pay for (in the respective proportions which the principal amount of Securities set forth opposite their names on Schedule I hereto bears to the aggregate principal amount of Securities set forth opposite the names of all the
remaining Initial Purchasers on Schedule I hereto) the Securities which the defaulting Initial Purchaser or Initial Purchasers agreed but failed to purchase; provided, however, that in the event that the aggregate principal amount of
Securities which the defaulting Initial Purchaser or Initial Purchasers agreed but failed to purchase shall exceed 10% of the aggregate principal amount of Securities set forth in Schedule I hereto, the remaining Initial Purchasers shall have
the right to purchase all, but shall not be under any obligation to purchase any, of the Securities, and if such nondefaulting Initial Purchasers do not purchase all the Securities, this Agreement will terminate without liability to any
nondefaulting Initial Purchaser or the Company. In the event of a default by any Initial Purchaser as set forth in this Section 9, the Closing Date shall be postponed for such period, not exceeding five Business Days, as the Representative
shall determine in order that the required changes in the Final Memorandum or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any defaulting Initial Purchaser of its liability, if any, to the
Company or any nondefaulting Initial Purchaser for damages occasioned by its default hereunder. 

  
 -21- 

 10. Termination. This Agreement shall be subject to termination in the absolute
discretion of the Representative, by notice given to the Company prior to delivery of and payment for the Securities, if at any time prior to such time (i) trading of the common stock of the Parent shall have been suspended on the New York
Stock Exchange or any other United States national securities exchange; (ii) trading in securities generally on the New York Stock Exchange shall have been suspended or limited or minimum prices shall have been established on such exchange;
(iii) a banking moratorium shall have been declared either by U.S. federal or New York State authorities; (iv) there shall have occurred a material disruption in commercial banking or securities settlement or clearance services; or
(v) there shall have occurred any outbreak or escalation of hostilities, declaration by the United States of a national emergency or war or other calamity or crisis, in each case, the effect of which on financial markets is such as to make it,
in the sole judgment of the Representative impractical or inadvisable to proceed with the offering, sale or delivery of the Securities as contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement
thereto). 
 11. Representations and Indemnities to Survive. The respective agreements, representations, warranties, indemnities and
other statements of the Company, the Guarantors or their officers and of the Initial Purchasers set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Initial
Purchasers or the Company or any of the indemnified persons referred to in Section 8 hereof, and will survive delivery of and payment for the Securities. The provisions of Sections 7 and 8 hereof shall survive the termination or
cancellation of this Agreement. 
 12. Notices. All communications hereunder will be in writing and effective only on receipt.
Notices to the Initial Purchasers shall be given to the Representative c/o J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179 (fax: 212-270-1063),
Attention: Catherine O’Donnell. Notices to the Company, will be mailed, delivered or telefaxed to 972-556-6119 and confirmed to it at 6555 Sierra Drive, Irving,
Texas 75039, attention of the Legal Department. 
 13. Successors. This Agreement will inure to the benefit of and be binding upon
the parties hereto and their respective successors and the indemnified persons referred to in Section 8 hereof and their respective successors, and, except as expressly set forth in Section 5(k) hereof, no other person will have any right
or obligation hereunder. 
 14. Integration. This Agreement supersedes all prior agreements and understandings (whether written or
oral) between the Company, the Guarantors and the Initial Purchasers, or any of them, with respect to the subject matter hereof. 
 15.
Applicable Law. This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, will be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be
performed within the State of New York. 
 16. Waiver of Jury Trial. The Company and the Guarantors each 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 Agreement or the transactions contemplated hereby. 

  
 -22- 

 17. No Fiduciary Duty. The Company and the Guarantors hereby acknowledge that
(a) the purchase and sale of the Securities pursuant to this Agreement is an arm’s-length commercial transaction between the Company and the Guarantors, on the one hand, and the Initial Purchasers
and any Affiliate through which it may be acting, on the other, (b) the Initial Purchasers are acting as principal and not as an agent or fiduciary of the Company or the Guarantors and (c) the Company’s and the Guarantors’
engagement of the Initial Purchasers in connection with the offering and the process leading up to the offering is as independent contractors and not in any other capacity. Furthermore, the Company and the Guarantors agree that they are solely
responsible for making their own judgments in connection with the offering (irrespective of whether any of the Initial Purchasers has advised or is currently advising the Company or the Guarantors on related or other matters). The Company and the
Guarantors agree that they will not claim that the Initial Purchasers have rendered advisory services of any nature or respect, or owe an agency, fiduciary or similar duty to the Company or the Guarantors, in connection with such transaction or the
process leading thereto. 
 18. Waiver of Tax Confidentiality. Notwithstanding anything herein to the contrary, purchasers of the
Securities (and each employee, representative or other agent of a purchaser) may disclose to any and all persons, without limitation of any kind, the U.S. tax treatment and U.S. tax structure of any transaction contemplated herein and all materials
of any kind (including opinions or other tax analyses) that are provided to the purchasers of the Securities relating to such U.S. tax treatment and U.S. tax structure, other than any information for which nondisclosure is reasonably necessary in
order to comply with applicable securities laws. 
 19. Counterparts. This Agreement may be signed in one or more counterparts, each
of which shall constitute an original and all of which together shall constitute one and the same agreement. 
 20. Headings. The
section headings used herein are for convenience only and shall not affect the construction hereof. 
 21. Recognition of the U.S.
Special Resolution Regimes. 
 (a) In the event that any Initial Purchaser that is a Covered Entity becomes subject to a proceeding
under a U.S. Special Resolution Regime, the transfer from such Initial Purchaser of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S.
Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States. 

(b) In the event that any Initial Purchaser that is a Covered Entity or a BHC Act Affiliate of such Initial Purchaser becomes subject to a
proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Initial Purchaser are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S.
Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States. 

  
 -23- 

 (c) For the purpose of this Section 21, 

“BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and shall be interpreted in
accordance with, 12 U.S.C. § 1841(k). 
 “Covered Entity” means any of the following: 

(i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); 

(ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or 

(iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 

“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R.
§§ 252.81, 47.2 or 382.1, as applicable. 
 “U.S. Special Resolution Regime” means each of (i) the
Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder. 

If the foregoing is in accordance with your understanding of our agreement, please sign and return to us the enclosed duplicate hereof,
whereupon this letter and your acceptance shall represent a binding agreement between the Company, the Guarantors and the several Initial Purchasers. 

  
 -24- 

 
					
	Very truly yours,
	
	Vistra Operations Company LLC, as Issuer
		
	By:	 	 /s/ Kristopher E. Moldovan

		 	Name:	 	Kristopher E. Moldovan
		 	Title:	 	Senior Vice President and Treasurer
	
	Ambit California, LLC
	Ambit Energy Holdings, LLC
	Ambit Holdings, LLC
	Ambit Illinois, LLC
	Ambit Marketing, LLC
	Ambit Midwest, LLC
	Ambit New York, LLC
	Ambit Northeast, LLC
	Ambit Texas, LLC
	Bellingham Power Generation LLC
	Big Brown Power Company LLC
	Big Sky Gas Holdings, LLC
	Big Sky Gas, LLC
	Blackstone Power Generation LLC
	Bluenet Holdings, LLC
	Brightside Solar, LLC
	Calumet Energy Team, LLC
	Casco Bay Energy Company, LLC
	Cincinnati Bell Energy LLC
	Coffeen and Western Railroad Company
	Coleto Creek Energy Storage LLC
	Coleto Creek Power, LLC
	Comanche Peak Power Company LLC
	Core Solar SPV I, LLC
	Crius Energy Corporation
	Crius Energy, LLC
	Crius Solar Fulfillment, LLC
	Dallas Power & Light Company, Inc.
	Dicks Creek Power Company LLC
	Dynegy Coal Holdco, LLC
	Dynegy Coal Trading & Transportation, L.L.C.
	Dynegy Conesville, LLC
	Dynegy Energy Services (East), LLC
	Dynegy Energy Services, LLC
	Dynegy Killen, LLC
	Dynegy Marketing and Trade, LLC

  
 (Signature Page to
Purchase Agreement) 

					
	Dynegy Midwest Generation, LLC
	Dynegy Operating Company
	Dynegy Power Marketing, LLC
	Dynegy Resources Generating Holdco, LLC
	Dynegy South Bay, LLC
	Dynegy Stuart, LLC
	Emerald Grove Solar, LLC
	Energy Rewards, LLC
	Ennis Power Company, LLC
	EquiPower Resources Corp.
	Everyday Energy NJ, LLC
	Everyday Energy, LLC
	Fayette Power Company LLC
	Forest Grove Solar LLC
	Generation SVC Company
	Hallmark Solar, LLC
	Hanging Rock Power Company LLC
	Hays Energy, LLC
	Hopewell Power Generation, LLC
	Illinois Power Generating Company
	Illinois Power Marketing Company
	Illinois Power Resources Generating, LLC
	Illinois Power Resources, LLC
	Illinova Corporation
	IPH, LLC
	Kendall Power Company LLC
	Kincaid Generation, L.L.C.
	La Frontera Holdings, LLC
	Lake Road Generating Company, LLC
	Liberty Electric Power, LLC
	Lone Star Energy Company, Inc.
	Lone Star Pipeline Company, Inc.
	Luminant Administrative Services Company
	Luminant Coal Generation LLC
	Luminant Commercial Asset Management LLC
	Luminant Energy Company LLC
	Luminant Energy Trading California Company
	Luminant ET Services Company LLC
	Luminant Gas Imports LLC
	Luminant Generation Company LLC
	Luminant Mining Company LLC
	Luminant Power Generation Inc.
	Luminant Power LLC
	Masspower, LLC
	Miami Fort Power Company LLC
	Midlothian Energy, LLC

					
	Milford Power Company, LLC
	Morro Bay Energy Storage 1, LLC
	Morro Bay Energy Storage 2, LLC
	Morro Bay Power Company LLC
	Moss Landing Energy Storage 1, LLC
	Moss Landing Energy Storage 2, LLC
	Moss Landing Energy Storage 3, LLC
	Moss Landing Energy Storage 4, LLC
	Moss Landing Power Company LLC
	NCA Resources Development Company LLC
	NEPCO Services Company
	North Jersey Energy Associates, a Limited Partnership
	Northeastern Power Company
	Oak Grove Management Company LLC
	Oak Hill Solar LLC
	Oakland Energy Storage 1, LLC
	Oakland Energy Storage 2, LLC
	Oakland Energy Storage 3, LLC
	Oakland Power Company LLC
	Ontelaunee Power Operating Company, LLC
	Pleasants Energy, LLC
	Public Power & Utility of Maryland, LLC
	Public Power & Utility of NY, Inc.
	Public Power, LLC (a Connecticut limited liability company)
	Public Power, LLC (a Pennsylvania limited liability company)
	Regional Energy Holdings, Inc.
	Renewable Energy Ventures, LLC
	Richland-Stryker Generation LLC
	Sandow Power Company LLC
	Sayreville Power GP Inc.
	Sayreville Power Holdings LLC
	Sithe Energies, Inc.
	Sithe/Independence LLC
	Southwestern Electric Service Company, Inc.
	Texas Electric Service Company, Inc.
	Texas Energy Industries Company, Inc.
	Texas Power & Light Company, Inc.
	Texas Utilities Company, Inc.
	Texas Utilities Electric Company, Inc.
	TriEagle 1, LLC
	TriEagle 2, LLC
	TriEagle Energy LP
	Trinidad Power Storage LLC

					
	TXU Electric Company, Inc.
	TXU Energy Retail Company LLC
	TXU Retail Services Company
	Upton County Solar 2, LLC
	Value Based Brands LLC
	Viridian Energy NY, LLC
	Viridian Energy PA LLC
	Viridian Energy, LLC
	Viridian Network, LLC
	Vistra Asset Company LLC
	Vistra Corporate Services Company
	Vistra EP Properties Company
	Vistra Finance Corp.
	Vistra Insurance Solutions LLC
	Vistra Preferred Inc.
	Volt Asset Company, Inc.
	Washington Power Generation LLC
	Wharton County Generation, LLC
	Wise County Power Company, LLC
	Wise-Fuels Pipeline, Inc.
	Zimmer Power Company LLC, as Guarantors
		
	By:	 	 /s/ Kristopher E. Moldovan

		 	Name:	 	Kristopher E. Moldovan
		 	Title:	 	Senior Vice President and Treasurer

					
	The foregoing Agreement is hereby
confirmed and accepted as of the
date first above written.
	
	J.P. MORGAN SECURITIES LLC
		
	By:	 	 /s/ Rob Callaghan

		 	Name:	 	Rob Callaghan
		 	Title:	 	Vice President
	
	For itself and the other several Initial
Purchasers named in Schedule I to the
foregoing Agreement.

 SCHEDULE I 

 

					
	 Initial Purchasers
	  	 Principal Amount
of
Securities to be
Purchased
	 
	 J.P. Morgan Securities LLC
	  	$	250,000,000	 
	 RBC Capital Markets, LLC
	  	$	200,000,000	 
	 Credit Suisse Securities (USA) LLC
	  	$	187,500,000	 
	 Goldman Sachs & Co. LLC
	  	$	187,500,000	 
	 Citigroup Global Markets Inc.
	  	$	187,500,000	 
	 BMO Capital Markets Corp.
	  	$	37,500,000	 
	 Credit Agricole Securities (USA) Inc.
	  	$	37,500,000	 
	 Mizuho Securities USA LLC
	  	$	37,500,000	 
	 MUFG Securities Americas Inc.
	  	$	37,500,000	 
	 Natixis Securities Americas LLC
	  	$	37,500,000	 
	 Barclays Capital Inc.
	  	$	12,500,000	 
	 BNP Paribas Securities Corp.
	  	$	12,500,000	 
	 Morgan Stanley & Co. LLC
	  	$	12,500,000	 
	 Truist Securities, Inc.
	  	$	12,500,000	 
		
	 Total
	  	$	1,250,000,000	 
		  	  
	  
	 

 SCHEDULE II 

Vistra Operations Company LLC 

$1,250,000,000 
 4.375%
Senior Notes Due 2029 
 The information in this term sheet supplements the Company’s preliminary offering memorandum dated May 5, 2021
(the “Preliminary Memorandum”) and supersedes the information in the Preliminary Memorandum to the extent inconsistent with the information in the Preliminary Memorandum. This term sheet is qualified in its entirety by reference to the
Preliminary Memorandum. 
  

			
	Issuer	  	Vistra Operations Company LLC
		
	Notes Offered	  	4.375% Senior Notes due 2029 (the “Notes”)
		
	Maturity Date	  	May 1, 2029
		
	Principal Amount	  	$1,250,000,000
		
	Gross Proceeds	  	$1,250,000,000
		
	Distribution	  	144A/Reg S for life
		
	Expected Ratings*	  	Ba2 / BB / BB+ (Moody’s / S&P / Fitch)
		
	Interest Rate	  	4.375%
		
	Price to Public	  	100.000%
		
	Yield to Maturity	  	4.375%
		
	Reference Treasury	  	United States Treasury 2.375% due May 15, 2029
		
	Spread to Treasury	  	T + 298 bps
		
	Interest Payment Dates	  	Semi-annually in arrears on May 1 and November 1 of each year
		
	First Interest Payment Date	  	November 1, 2021
		
	Record Dates	  	April 15 and October 15
		
	Equity Clawback	  	Up to 40% at 104.375% until May 1, 2024
		
	Change of Control Triggering Event	  	Investor put at 101% of principal plus accrued interest

					
	Optional Redemption	  	Except as set forth in the Preliminary Memorandum, the Company will not be entitled to redeem the Notes at any time prior to May 1, 2024. On and after such date, the Company may redeem the Notes, in whole or in
part, at the following redemption prices:
		  	On or after:	  	Price:
		  	May 1, 2024	  	102.188%
		  	May 1, 2025	  	101.094%
		  	May 1, 2026 and thereafter	  	100.000%
		
	Make Whole	  	T + 50 bps
		
	Joint Bookrunners	  	J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC,
Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Natixis Securities Americas LLC, BNP Paribas Securities Corp., RBC Capital Markets, LLC, Truist Securities, Inc. and BMO Capital Markets Corp.
		
	Trade Date	  	May 5, 2021
		
	Settlement Date	  	May 10, 2021
		
	CUSIP	  	92840VAH5 (Rule 144A)
		  	U9226VAH0 (Regulation S)
		
	ISIN	  	US92840VAH50 (Rule 144A)
		  	USU9226VAH07 (Regulation S)

 This communication is confidential and is intended for the sole use of the person to whom it is provided by the sender. This
information does not purport to be a complete description of the Notes or the offering. Please refer to the Preliminary Memorandum for a complete description. 

This communication does not constitute an offer to sell or the solicitation of an offer to buy any Notes in any jurisdiction to any person to whom it is
unlawful to make such offer or solicitation in such jurisdiction. 
 These Notes have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), and the rules and regulations promulgated thereunder and may only be sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to persons outside the United States in compliance with
Regulation S under the Securities Act. 
  

	*	 A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or
withdrawal at any time. 

  
 Schedule II-2 

 ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD
BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM. 

  
 Schedule II-3 

 SCHEDULE III 

Schedule of Written General Solicitation Materials 

None. 

 SCHEDULE IV 

 

	1.	 May 2021 Investor Presentation of Vistra Corp. 

 ANNEX A 

Significant Subsidiaries 
  

	 	1.	 Ambit Energy Holdings, LLC 

 

	 	2.	 Ambit Holdings, LLC 

  

	 	3.	 Ambit Northeast, LLC 

 

	 	4.	 Ambit Texas, LLC 

  

	 	5.	 Coleto Creek Power, LLC 

 

	 	6.	 Comanche Peak Power Company LLC 

 

	 	7.	 Crius Energy Corporation 

 

	 	8.	 Crius Energy, LLC 

  

	 	9.	 Dynegy Coal Holdco, LLC 

 

	 	10.	 Dynegy Energy Services (East), LLC 

 

	 	11.	 Dynegy Energy Services, LLC 

 

	 	12.	 Dynegy Marketing and Trade, LLC 

 

	 	13.	 Dynegy Midwest Generation, LLC 

 

	 	14.	 Dynegy Resources Generating Holdco, LLC 

 

	 	15.	 EquiPower Resources Corp. 

 

	 	16.	 Fayette Power Company LLC 

 

	 	17.	 Hanging Rock Power Company LLC 

 

	 	18.	 Illinois Power Marketing Company 

 

	 	19.	 Illinois Power Resources, LLC 

 

	 	20.	 IPH, LLC 

  

	 	21.	 Kendall Power Company LLC 

 

	 	22.	 Kincaid Generation, L.L.C. 

 

	 	23.	 La Frontera Holdings, LLC 

 

	 	24.	 Luminant Coal Generation LLC 

 

	 	25.	 Luminant Commercial Asset Management LLC 

 

	 	26.	 Luminant Energy Company LLC 

 

	 	27.	 Luminant Generation Company LLC 

 

	 	28.	 Luminant Mining Company LLC 

 

	 	29.	 Luminant Power LLC 

  

	 	30.	 Miami Fort Power Company LLC 

 

	 	31.	 Midlothian Energy, LLC 

 

	 	32.	 Oak Grove Management Company LLC 

	 	33.	 Ontelaunee Power Operating Company, LLC 

 

	 	34.	 Public Power, LLC 

  

	 	35.	 Regional Energy Holdings, Inc. 

 

	 	36.	 Sithe Energies, Inc. 

 

	 	37.	 TriEagle 2, LLC 

  

	 	38.	 TriEagle Energy LP 

  

	 	39.	 TXU Energy Retail Company LLC 

 

	 	40.	 Viridian Energy, LLC 

 

	 	41.	 Vistra Asset Company LLC 

 

	 	42.	 Vistra Preferred Inc. 

 

	 	43.	 Volt Asset Company, Inc. 

 

	 	44.	 Washington Power Generation LLC 

 

	 	45.	 Zimmer Power Company LLC 

  
 Annex A-2 

 EXHIBIT A-1 

OPINION AND DISCLOSURE LETTER OF 

SIDLEY AUSTIN LLP 
 Based
on and subject to the foregoing and the other limitations, qualifications, exceptions and assumptions set forth herein, we are of the opinion that: 

i. The Company is a limited liability company validly existing and in good standing under the laws of the State of Delaware.
The Company has limited liability company power and authority to own, lease and operate its properties and to conduct its business as described in the Disclosure Package (as defined below) and the Offering Memorandum and to execute, deliver and
perform its obligations under the Purchase Agreement, the Indenture and the Notes. 
 ii. Each Corporate Guarantor is a
corporation validly existing and in good standing under the laws of the state of its incorporation. Each Corporate Guarantor has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the
Disclosure Package and the Offering Memorandum and to execute, deliver and perform its obligations under the Purchase Agreement and the Indenture. 

iii. Each LLC Guarantor is a limited liability company validly existing and in good standing under the laws of the state of its
formation. Each LLC Guarantor has limited liability company power and authority to own, lease and operate its properties and to conduct its business as described in the Disclosure Package and the Offering Memorandum and to execute, deliver and
perform its obligations under the Purchase Agreement and the Indenture. 
 iv. The Purchase Agreement has been duly
authorized, executed and delivered by the Company and each Covered Guarantor. 
 v. The Notes have been duly authorized by
the Company. When the Notes are duly executed by authorized officers of the Company and authenticated by the Trustee, all in accordance with the Indenture, and delivered to and paid for by the Initial Purchasers in accordance with the Purchase
Agreement, the Notes will be valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, and will be entitled to the benefits of the Indenture. 

vi. No consent, approval, authorization or other order of any federal regulatory body, federal administrative agency or other
federal governmental body of the United States of America or any state regulatory body, state administrative agency or other state governmental body of the State of Illinois, the State of Texas or the State of New York is required under Applicable
Laws for the execution and delivery by the Company or any Covered Guarantor of the Purchase Agreement or the Indenture, as applicable, and the offer and sale of the Securities to the Initial Purchasers as contemplated by the Purchase Agreement. 

 vii. The execution and delivery by the Company and each Covered Guarantor of
the Purchase Agreement and the Indenture, and the offer and sale of the Securities to the Initial Purchasers pursuant to the Purchase Agreement, do not (a) violate the certificate of incorporation or
by-laws of the Company or any Corporate Guarantor or the certificate of formation or limited liability company agreement of any LLC Guarantor, (b) result in any breach of, or constitute a default under,
any of the agreements or instruments listed on Schedule IV hereto or (c) result in a violation by the Company or any Covered Guarantor of any of the terms and provisions of any Applicable Laws. 

viii. The statements in the Preliminary Offering Memorandum and the Offering Memorandum under the caption “Description of
Notes,” to the extent that such statements purport to describe certain provisions of the Indenture or the Notes, accurately describe such provisions in all material respects. 

ix. The Indenture has been duly authorized, executed and delivered by the Company and each Covered Guarantor and is a valid and
binding agreement of the Company and each Covered Guarantor, enforceable against the Company and each such Covered Guarantor in accordance with its terms. 

x. Assuming (A) the accuracy and performance of, and compliance with, the representations, warranties and agreements of
the Company, the Guarantors and the Initial Purchasers set forth in the Purchase Agreement and (B) the accuracy and performance of, and compliance with, the representations, warranties and agreements of each of the persons to whom the Initial
Purchasers initially offer, resell or otherwise transfer the Securities as set forth in the Offering Memorandum under the caption “Notice to Investors,” it is not necessary, in connection with the sale of the Securities to the Initial
Purchasers under the Purchase Agreement or in connection with the initial resale of the Securities by the Initial Purchasers, in each case in the manner contemplated by the Purchase Agreement and the Offering Memorandum, to register the Securities
under the 1933 Act or to qualify the Indenture under the 1939 Act, it being understood that we express no opinion as to any subsequent resale or other transfer of any Securities. 

xi. The statements in the Annual Report on Form 10-K for the fiscal year ended
December 31, 2020, filed by Vistra Corp. with the Securities and Exchange Commission on February 26, 2021, to the extent that such statements purport to describe matters of United States federal environmental law, accurately describe such
matters in all material respects. 
 xii. The Company and each Applicable Guarantor is not and, after giving effect to the
offering and sale of the Notes and the application of the proceeds thereof as described in the Offering Memorandum, will not be required to be registered as an “investment company” as defined in the 1940 Act. 

 EXHIBIT A-2 

OPINION OF 

VINSON & ELKINS LLP 

Based on such facts and subject to the qualifications, assumptions and limitations set forth herein and in the Preliminary Memorandum and
Final Memorandum, we hereby confirm that the statements in the Preliminary Memorandum and Final Memorandum under the caption “Certain U.S. Federal Income Tax Considerations,” insofar as such statements purport to constitute summaries of
United States federal income tax law and regulations or legal conclusions with respect thereto, have been reviewed by us and are accurate in all material respects. 

 EXHIBIT B 

OPINION OF VISTRA OPERATIONS COMPANY LLC 

GENERAL COUNSEL 
 Based on
and subject to the foregoing and the other limitations, qualifications, exceptions and assumptions set forth herein, I am of the opinion that the Company has an authorized capitalization as set forth in the Preliminary Offering Memorandum and the
Offering Memorandum under the heading “Capitalization” and all of the outstanding shares of capital stock or other equity interests of each Guarantor have been duly and validly authorized and issued, and, in the case of capital stock, are
fully paid and non-assessable. I am also of the opinion that there is no pending or, to my knowledge, threatened action, suit or proceeding by or before any court or governmental agency, authority or body or
any arbitrator involving the Company or any of its subsidiaries or its or their property that is not adequately disclosed in the Preliminary Offering Memorandum and Offering Memorandum, except in each case for such proceedings that, if the subject
of an unfavorable decision, ruling or finding would not singly or in the aggregate, have a Material Adverse Effect as such term is defined in the Purchase Agreement.

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