Document:

EX-10.1

 Exhibit 10.1 

CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE 

Christine M. Castellano (“Executive”) and Ingredion Incorporated (“Ingredion” or the “Company”) (collectively
the “Parties”) hereby enter into this Confidential Separation Agreement and General Release (“Agreement”) and agree as follows: 

1.    Executive hereby voluntarily resigns from her position as Senior Vice President, General Counsel, Corporate
Secretary and Chief Compliance Officer, and from any and all officer and other positions that she currently or subsequently holds with Ingredion or any of its affiliates, subsidiaries or benefit plans, in each case, effective as of the close of
business on February 1, 2019 (such date referred to herein as the “Separation Date,” unless the Separation Date is accelerated pursuant to Section 2(e) below). The Company hereby accepts such resignations. 

2.    Subject to the remainder of this Agreement, and provided that Executive signs and returns this Agreement to the
Company within 21 days after her receipt of it, does not revoke this Agreement pursuant to Section 12 below, and complies with its terms: 

a.    From the date this Agreement becomes effective until the Separation Date (the “Transition Period”),
Executive shall remain a Company employee and shall perform such duties consistent with Executive’s status as an executive and historical duties with the Company, as Ingredion’s Chief Executive Officer (“CEO”) or his designee may
direct, provided that the Company reserves the right during the Transition Period to direct Executive not to report to its workplace. Executive shall reasonably cooperate with the Company in transitioning her duties and responsibilities to such
person(s) as are designated by the Company. Executive agrees that she has not disclosed (other than to members of Executive’s immediate family) and will not disclose (internally or externally) that she has tendered her resignation from the
Company prior to the Company’s formal announcement of her departure. The Company agrees to consult with Executive in the wording of its internal and external announcement of Executive’s departure including a mutually agreed timeline for
such announcements. If the Parties are unable to agree on such timeline, the timing of any internal and external announcement shall be at the Company’s sole discretion. Nothing in this Paragraph shall be construed to prohibit the Company from
complying with any reporting obligation. 
 b.    During the Transition Period, the Company will continue to pay
Executive her current pro-rated base salary, less required and authorized withholdings and deductions, and Executive will continue to participate in any available Company employee benefit plans and policies in
which she currently participates, as in effect or amended from time to time. Executive also shall remain eligible to receive an annual cash incentive bonus with respect to calendar year 2018, subject to the terms and conditions of the Company’s
Annual Incentive Plan. Executive agrees that she shall not be eligible for, and will not receive, any new long-term incentive or equity awards with respect to calendar year 2018 or 2019; however, she will continue to vest and accrue equity through
the Separation Date. She will continue to earn vacation time during the Transition Period. 
 c.    Provided that
Executive also signs and returns to the Company the Supplemental Release attached as Exhibit A to this Agreement (the “Supplemental Release”) within 21 days after (but not before) the Separation Date and does not revoke it per its terms
and has been and remains in compliance with this Agreement: 
 (i)    Executive shall be entitled to a special
severance payment in the gross amount of $416,108.00 (less required and authorized withholding and deductions); 

 (ii)    a special payment representing Executive’s cash incentive
bonus under the Company’s Annual Incentive Plan with respect to calendar year 2018 in the gross amount of $120,406.00 (less required and authorized withholding and deductions); 

(iii)    a special payment equal to the value of 1,248 shares of Ingredion Stock times the closing price on
January 31, 2019 (less required and authorized withholding and deductions); 
 (iv)    if Executive timely elects
to receive continued coverage under the Company’s group health care plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), Company will pay the full cost of the applicable premium payments
for Executive’s and her eligible dependents’ (if any) continued COBRA coverage under such plan (as in effect or amended from time to time) (the “COBRA Subsidy”) for the twelve (12) month period following the Separation Date
(such period referred to as the “COBRA Subsidy Period”). Executive shall promptly inform the Company in writing when she obtains or becomes eligible for any such other health care coverage. Executive shall be responsible for the full
unsubsidized costs of such COBRA coverage after the COBRA Subsidy Period. Executive will be deemed to receive income attributable to the COBRA Subsidy and shall be responsible for any and all applicable tax liability arising from such benefit; 

(v)     outplacement services with a service provider of Executive’s choice to be paid to the provider on
Executive’s behalf at a cost not to exceed eight thousand five hundred dollars ($8,500), which Executive shall commence prior to the twelve (12) month anniversary of the Separation Date; 

(vi)    2018 executive annual physical, at Company’s expense, provided such physical is completed prior to
February 1, 2019; 
 (vii)    A lump sum payment of not to exceed ten thousand dollars ($10,000) paid to The
Bellows Law Group, Executive’s attorney, for legal fees incurred in connection with this Agreement provided The Bellows Law Group submits to the Company an invoice and IRS Form w-9 to effectuate such
payment; and 
 (viii)    Executive will be given the opportunity to purchase the automobile that she currently leases
at terms as determined by the Donlan Trust in accordance with their normal procedures. 
 d.    Subject to the terms of
this Agreement: 
 (i)    the payment in Section 2(c)(i) shall be paid in two portions as follows: (A) fifty
percent (50%) paid no later than March 15, 2019; and (B) fifty percent (50%) paid on the first regularly scheduled payroll date in January 2020; 

(ii)    the payments in Section 2(c)(ii) and 2(c)(iii) shall be paid in a lump sum on the second regularly scheduled
Company payday following the date by which Executive has signed and returned both this Agreement and the Supplemental Release, and the revocation periods set forth in Section 12 of this Agreement and Section 6 of the Supplemental Release
have passed (without any revocation by her). 
 Executive understands and agrees that she would not otherwise be entitled to the benefits in
this Section 2, or to continued employment or pay during the Transition Period, if she did not sign this Agreement (without revoking it). Executive also understands and agrees that her execution of the Supplemental Release within 21 days after
(but not before) the Separation Date (without revoking it) is among the conditions precedent to the Company’s obligation to provide the payments and benefits under this Section 2.  

  
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 e.    Notwithstanding the above provisions of Sections 1 and 2, the
Company may accelerate Executive’s Separation Date to (and thus the Transition Period will end on) a date prior to February 1, 2019 designated by the Company if Executive fails to comply with Sections 2(a), 9 or 10 of this Agreement,
materially violates Company policy, or engages in other material misconduct (including without limitation theft, fraud, other material dishonesty, or insubordination). In such event, Executive will not be entitled to the payments and benefits under
Section 2 of this Agreement and will only be entitled to that portion of the salary and benefits in Section 2(b) that she accrues prior to the accelerated date of termination. 

3.    Regardless of whether she signs this Agreement and the Supplemental Release, Executive also will receive any earned
and unpaid salary through the Separation Date and the five (5) weeks’ vacation pay, minus any vacation time used in 2019. Except as set forth in this Agreement or as otherwise required by applicable law, Executive’s participation in
and rights under any Company employee benefit plans and programs (including, without limitation, with respect to any equity awards) will be governed by the terms and conditions of those plans and programs, which plans, programs, terms and conditions
may be amended, modified, suspended or terminated by the Company at any time for any or no reason to the extent permitted by law. Executive agrees that the Company and the other Released Parties do not owe her, and she will not receive, any other
amounts, including without limitation any salary, bonus, severance, profit-sharing or incentive compensation of any kind, notice or severance pay, equity-based compensation, or other payments or benefits of any kind (including, without limitation,
under the Amended and Restated Executive Severance Agreement made between Executive and the Company on the 25th day of July 2018 (the “Executive Severance Agreement”), any other
severance agreement, or any company plan or severance policy). Prior to the Separation Date (or earlier if requested by the Company), Executive will return to the Company all documents and other property of the Company and the other Released
Parties. 
 4.    “Released Parties” as used in this Agreement includes: (a) the Company and its past,
present, and future parents, divisions, subsidiaries, partnerships, affiliates, and other related entities, and (b) each of the foregoing entities’ and persons’ past, present, and future owners, trustees, fiduciaries, administrators,
shareholders, directors, officers, partners, members, associates, agents, employees, and attorneys, and (c) the predecessors, successors and assigns of each of the foregoing persons and entities. 

5.    Executive, and anyone claiming through Executive or on her behalf, hereby waive and release the Company and the
other Released Parties with respect to any and all claims, whether currently known or unknown, that Executive now has or has ever had against the Company or any of the other Released Parties arising from or related to any act, omission, or thing
occurring or existing at any time prior to or on the date on which Executive signs this Agreement. Without limiting the generality of the foregoing, the claims waived and released by Executive hereunder include, but are not limited to: 

a.    all claims arising out of or related in any way to Executive’s employment, compensation (including, without
limitation, under the Executive Severance Agreement, any other severance agreement, or any company plan or severance policy), other terms and conditions of employment, or termination from employment; 

b.    all claims that were or could have been asserted by Executive or on her behalf: (i) in any federal, state, or
local court, commission, or agency; and (ii) under any common law theory (including without limitation all claims for breach of contract (oral, written or implied), wrongful termination, defamation, invasion of privacy, infliction of emotional
distress, tortious interference, fraud, estoppel, unjust enrichment, and any other contract, tort or other common law claim of any kind); and 

  
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 c.    all claims that were or could have been asserted by Executive or
on her behalf under: (i) the Age Discrimination in Employment Act, as amended; and (ii)] any other federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of
law, including without limitation under any of the following laws, as amended from time to time: Title VII of the Civil Rights Act of 1964, 42 U.S.C. §§ 1981 & 1981a, the Americans with Disabilities Act, the Equal Pay Act, the Employee
Retirement Income Security Act, the Lilly Ledbetter Fair Pay Act of 2009, the Family and Medical Leave Act, the Genetic Information Nondiscrimination Act, the Fair Credit Reporting Act, the Illinois Human Rights Act, the Illinois Equal Pay Act, and
the Chicago and Cook County Human Rights Ordinances. 
 Notwithstanding the foregoing, the releases and waivers in this Section 5 shall not apply to
any claim for unemployment or workers’ compensation, or a claim that by law is non-waivable. Executive confirms that she has not filed any legal or other proceeding(s) against any of the Released Parties
(subject to Section 14 below), is the sole owner of the claims released herein, has not transferred any such claims to anyone else, and has the full right to grant the releases and agreements in this Agreement. Except as expressly provided in
this Agreement, Executive acknowledges and agrees that she is not entitled to and will not receive any other compensation, payments, benefits, or recovery of any kind from the Company or the other Released Parties, including without limitation any
bonus, severance, equity or other payments or any amounts under the Executive Severance Agreement, any other severance agreement, or any company plan or severance policy. In the event Executive initiates any further proceedings based upon any
released matter, none of the Released Parties shall have any further monetary or other obligation of any kind to Executive, and Executive hereby waives any such monetary or other recovery. 

6.    In exchange for Executive’s representations and promises in this Agreement, the Company, with the exception
stated herein, hereby waives and releases the Executive with respect to any and all claims, whether currently known or unknown, that the Company now or has ever had against Executive arising from or relating to any act, omission, or thing occurring
or existing at any time prior to or on the date on which Company signs this Agreement with the exception of any claim arising out of material misconduct by Executive (including without limitation theft, fraud, violation of any fiduciary obligations
Executive owes to the Company) or breach of this Agreement. 
 7.    Pursuant to the
By-laws of the Company and the October 1, 2012 “Indemnification Agreement” between Company and Executive, Executive’s rights and Company’s obligations related to Indemnification shall
continue and are not waived or superseded following the Separation Agreement. 
 8.    Except as required by law,
Executive will not disclose the existence or terms of this Agreement to anyone except her financial advisor, accountants, and attorneys, and shall ensure that each such person complies with this confidentiality provision, provided that Executive may
disclose her obligations under Section 9 to a prospective employer. 
 9.    Executive hereby acknowledges that, by
virtue of her unique relationship with the Company, Executive has had and will continue to have access to Confidential Information (as defined below) and unique and comprehensive familiarity with the Company and its business, which Executive would
not have otherwise had but for her employment with the Company, and which the Executive acknowledges are valuable assets of the Company and its affiliates. Accordingly, in consideration of the promises and agreements of the Company as provided in
this Agreement, Executive agrees to undertake the following obligations, which she acknowledges are reasonably designed to protect the legitimate business interests of the Company and its affiliates, without unreasonably restricting her
post-employment opportunities: 

  
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 a.    Executive shall not, for a period through and including
February 1, 2029, make use of or disclose, directly or indirectly, any trade secret or other non-public information of the Company or of any of its subsidiaries including without limitation: non-public financial information of strategic importance; information regarding personnel, compensation or legal strategies, programs or other matters; forecasting, marketing, sales, operations and other similar
business plans; competitive pricing information and strategies; acquisition, investment or divestiture prospects, plans and activities; research and development strategies and plans; patented or unpatented inventions;
non-public information regarding Company employees or the business relationship between the Company and customers and/or suppliers, including information which Executive knows to be the subject of a
confidentiality agreement with an employee, customer or supplier; and/or information concerning major capital investments or other purchases of significant equipment or property (collectively, “Confidential Information”). Notwithstanding
the foregoing, Confidential Information does not include information that: (a) becomes a matter of public record or is published in a newspaper, magazine or periodical on the internet, or in any other media available to the general public,
other than as a result of any breach of this Agreement by Executive, or (b) is provided to Executive by an independent third party after the Separation Date, without that third party breaching confidentiality obligations to the Company or its
affiliates, or (c) is required to be disclosed by any law, regulation or order of any court or regulatory commission, department or agency, provided that (subject to Section 14 below) Executive gives prompt notice of such requirement to
the Company (unless prohibited by law) to enable the Company to seek an appropriate protective order. 
 b.    Executive
agrees that for a period through and including February 1, 2020 (“Non-Compete Period”), she shall not in any manner, alone or as an officer, director, stockholder, investor or employee of or
consultant to any other corporation or enterprise, engage or be engaged, or assist any other person, firm, corporation or enterprise in engaging or being engaged, in any business relationship, with any individual or entity anywhere in the world that
develops, produces, manufactures, sells, or distributes starch, sweetener, or other products produced or marketed by Ingredion as of the date hereof, or that could be used as a substitute for such products including, but not limited to, Corn,
Tapioca, Manioc, Yucca, Rice or Potato starches, flours, syrups, and sweeteners; Dextrose, Stevia-based or other high intensity sweeteners, Glucose, Polyols, HFCS, High Maltose syrup, and Maltodextrin sweeteners; Corn oil; Gluten Protein;
Plant-based Protein; Caramel Color; Hydrocolloids (excluding cellulosics, but expressly including gum, arabic, guar gum, xanthan and other products sold by TIC Gums as of the date of this Agreement); fruit and vegetable concentrates, extracts,
purees, essences, distillates and pomace; citris fibers; and specifically including but not limited to the following entities that manufacture such or similar products: ADM, Bunge, Cargill, Roquette, Avebe, and Tate & Lyle, including joint
ventures, subsidiaries or divisions thereof or any entity which succeeds to the relevant business or with an individual or entity that competes with the business of Kerr Concentrates in the United States as that business exists on the date of this
Agreement. Notwithstanding any provision to the contrary, it shall not be a violation of this Agreement for Executive to be or become the registered or beneficial owner of less than 5% of any class of securities listed on any stock exchange, in any
business or corporation which is included in the scope of this Section 9(b). 

  
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 c.    Executive further agrees that for a period through and including
February 1, 2020, she shall not, directly or indirectly, on her own behalf or on the behalf of any third party, solicit, hire or recruit employees of the Company or any of its subsidiaries on her own behalf or on the behalf of any third party,
or induce or encourage employees, consultants or independent contractors to end their relationship with the Company or any of its subsidiaries. 

d.    Executive acknowledges and agrees that the provisions in this Section 9 are, reasonable, necessary and
appropriate to protect the Company’s and its affiliates’ legitimate business interests. The Parties hereto agree that the Company and its subsidiaries would be damaged irreparably in the event that any provision of this Section 9 were
otherwise breached and that money damages would be an inadequate remedy for any such nonperformance or breach. Accordingly, the Company and its successors and permitted assigns shall be entitled to seek, in addition to other rights and remedies
existing in their favor, an injunction or injunctions to prevent any breach or threatened breach of any of such provisions and to enforce such provisions specifically (without limiting any other rights or remedies of the Company or its affiliates).
Executive further agrees that, notwithstanding any other provision herein, and without limiting the foregoing provisions of this Section 9(d), in the event the Company files an action for an alleged violation of any provision of this Agreement
in a court of competent jurisdiction, the remainder of the Agreement shall remain in effect except that the Company may discontinue any remaining payment(s) set forth in Section 2 until a final determination has been made by the court of
competent jurisdiction as to the Parties’ respective rights and obligations under this Agreement. In the event the court of competent jurisdiction determines that Executive did not violate any provision of this Agreement, the Company shall
promptly pay to Executive (but in no event later than seven (7) calendar days following the date on which the decision becomes final and no longer subject to appeal) any and all remaining payments due to Executive in a single lump sum payment,
with interest. In the event the court of competent jurisdiction determines that Executive violated any provision of this Agreement, each of the restrictions set forth in this Section 9 shall be extended by the time period that Executive
was in breach, Executive shall promptly repay to the Company (but in no event later than seven (7) calendar days following the date on which the decision becomes final and no longer subject to appeal) any and all amounts paid to Executive under
Section 2(c), with interest, and Executive shall not be eligible for any remaining payments under this Agreement, with the exception of $10,000.00, which Executive agrees is sufficient consideration to support the release and waiver in
Section 5 of this Agreement. Any interest awarded under this Section shall be calculated at the then current prime interest rate, as reported in The Wall Street Journal, Midwest Edition. 

e.    Executive agrees to inform the Company of any offer of employment or consulting engagement she accepts during the Non-Compete Period, within three (3) business days after receiving such offer. If, prior to the expiration of the Non-Compete Period, Executive would like to become
employed by or otherwise participate in any business or other activity that she believes may violate the restrictive covenants, Executive may request that the Company waive or limit its rights under the restrictive covenants as they pertain to the
particular opportunity. Executive will provide her request to the Company’s Senior Vice President and Chief Human Resources Officer in writing, and will provide sufficient detail of the particular opportunity to allow the Company to evaluate
her request. The Company agrees that it will use reasonable efforts to respond to any request within ten business days, but failure to do so shall not be deemed a waiver. Nothing in this Section 9(e) prevents Executive from accepting employment
or otherwise participating in any business or other activity that would not be a violation of the restrictive covenants. 

  
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 f.    The Parties agree that in the event any of the prohibitions or
restrictions set forth in this Section 9 are found by a court of competent jurisdiction to be unreasonable or otherwise unenforceable, it is the purpose and intent of the Parties that any such prohibitions or restrictions be deemed modified or
limited so that, as modified or limited, such prohibitions or restrictions may be enforced to the fullest extent possible. 

10.    Executive shall refrain from all conduct, verbal or otherwise, that disparages or damages the reputation, goodwill,
or standing in the community of the Company or any of the other Released Parties (subject to Section 14 below), provided that nothing herein shall prohibit Executive from giving truthful testimony or evidence to a governmental entity, or if
properly subpoenaed or otherwise required to do so under applicable law. The Company shall instruct the Executive Officers of the Company (for as long as they respectively remain employed by the Company) to refrain from all conduct, verbal or
otherwise, that disparages or damages the reputation, goodwill, or standing in the community of the Executive, provided that nothing herein shall prohibit the Executive Officers of the Company from giving truthful testimony or evidence to a
governmental entity, or if properly subpoenaed or otherwise required to do so under applicable law. For purposes of this paragraph, the term “Executive Officers” shall refer to those individuals who are Section 16 reporting officers
of the Company as of the date Executive executes this Agreement. Executive agrees that she has no present or future right to employment with the Company or any of the other Released Parties (defined above) and will not apply for employment or
engagement with any of them. 
 11.    Nothing in this Agreement is intended to or shall be construed as an admission by
the Company or any of the other Released Parties that any of them violated any law, breached any obligation or otherwise engaged in any improper or illegal conduct with respect to Executive or otherwise. The Released Parties expressly deny any such
illegal or wrongful conduct. 
 12.    EXECUTIVE UNDERSTANDS AND AGREES THAT: (A) THIS IS THE FULL AND FINAL
RELEASE OF ALL CLAIMS AGAINST THE RELEASED PARTIES THROUGH THE DATE SHE SIGNS THIS AGREEMENT; (B) SHE KNOWINGLY AND VOLUNTARILY RELEASES CLAIMS HEREUNDER FOR VALUABLE CONSIDERATION; (C) SHE HEREBY IS AND HAS BEEN ADVISED OF HER RIGHT TO
HAVE HER ATTORNEY REVIEW THIS AGREEMENT (AT HER COST) BEFORE SIGNING IT; (D) SHE HAS 21 DAYS TO CONSIDER WHETHER TO SIGN THIS AGREEMENT; AND (E) SHE MAY, AT HER SOLE OPTION, REVOKE THIS AGREEMENT UPON WRITTEN NOTICE DELIVERED TO INGREDION
INCORPORATED, ATTN: SENIOR VICE PRESIDENT AND CHIEF HUMAN RESOURCES OFFICER, 5 WESTBROOK CORPORATE CENTER, WESTCHESTER, ILLINOIS 60154, WITHIN 7 DAYS AFTER SIGNING IT. THIS AGREEMENT WILL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THIS 7-DAY PERIOD HAS EXPIRED AND WILL BE VOID IF EXECUTIVE REVOKES IT WITHIN SUCH PERIOD. EXECUTIVE AGREES THAT ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT, DO NOT RESTART OR AFFECT IN ANY MANNER
THE ORIGINAL UP TO 21 CALENDAR DAY CONSIDERATION PERIOD. 
 13.    Following the Separation Date, and except as
otherwise provided in Section 14, Executive shall cooperate fully in any administrative, investigative, litigation or other legal matter(s) that may arise or have arisen involving the Company or any of the other Released Parties and which in
any way relate to or involve Executive’s employment with, or duties for, the Company provided there is no conflict between Executive’s legal interest and those of Company in the reasonable judgement of Executive’s legal counsel.
Executive’s obligation to cooperate hereunder shall include, without limitation, meeting and conferring with such persons at such times and in such places as the Company and the other Released Parties may reasonably require, and giving truthful
evidence and truthful testimony and executing and delivering to the Company and any of the other Released Parties any truthful papers reasonably requested by 

  
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any of them. If Executive’s assistance requires significant time commitments, Company will pay Executive an hourly rate of $500 per hour for significant time spent at the request of the
Chief Executive Officer or the Senior Vice President and Chief Human Resources Officer. In this regard, significant time commitments mean commitments that require Executive’s physical presence or participation in a conference call for more than
two consecutive hours. However, routine, casual communications such as brief, mutually convenient telephone calls of short duration will not be compensated. Executive shall also provide reasonable cooperation in connection with transitioning other
legal matters that may arise during the one-year period after her Separation Date. Executive shall be reimbursed for reasonable actual
out-of-pocket expenses that Executive incurs in rendering cooperation after the Separation Date pursuant to this Section 13, other than expenses of a minimal nature
such as for domestic telephone calls. 
 14.    Notwithstanding anything to the contrary herein, this Agreement does not
prohibit either party, where applicable, from confidentially or otherwise communicating or filing a charge or complaint with a governmental or regulatory entity, participating in a governmental or regulatory entity investigation, or giving truthful
testimony or statements or other disclosures to a federal, state or local governmental or regulatory entity, in each case without having to disclose any such conduct to the other party, or from responding if properly subpoenaed or otherwise
required to do so under applicable law. Nothing in this Agreement shall limit Executive’s ability to disclose in confidence trade secrets to federal, state, and local government officials, or to an attorney, for the sole purpose of reporting or
investigating a suspected violation of law or to disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public disclosure. To the extent permitted by law, Executive
agrees that if any claim is made based on any matter released herein, Executive hereby waives, and agrees that Executive shall not be entitled to recover and the Released Parties shall not be liable for, any further monetary or other relief arising
out of or related to any such matter, for any actual or alleged personal injury or damages to Executive, including without limitation any costs, expenses and attorneys’ fees incurred by or on behalf of Executive (it being understood, however,
that this Agreement does not limit Executive’s right to receive an award from a governmental or regulatory entity for information provided to such an entity, and not as compensation for actual or alleged personal injury or damages to
Executive). 
 13.    All notices, requests or other communications provided for in this Agreement shall be made, if to
the Company, to Company’s Senior Vice President and Chief Human Resources Officer, Ingredion Incorporated, 5 Westbrook Corporate Center, Westchester, Illinois 60154, and if to Executive, to Executive’s last home address on file with
Company in writing. All notices and other communications required or permitted hereunder shall be in writing and shall be deemed given when (a) delivered by overnight courier, or (b) sent by e:mail. 

14.    Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under applicable law or rule in any jurisdiction (after any appropriate modification or limitation pursuant to
Section 9(f)), such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of any other provision of this Agreement or the validity, legality or enforceability of such provision in any other
jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein 

15.    This Agreement shall be enforceable by Executive and her heirs, executors, administrators and legal
representatives, and by the Company and its successors and assigns. This Agreement may be assigned or transferred by the Company to, and shall inure to the benefit of, any affiliate of the Company or any person which at any time, whether by merger,
purchase, or otherwise, acquires all or substantially all of the assets, stock or business of the Company or of any discrete portion thereof. 

  
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 16.    This Agreement embodies the entire agreement of the Parties
regarding the matters described herein and supersedes any and all prior and/or contemporaneous agreements, oral or written, between the Parties regarding such matters, provided that nothing in this Agreement shall limit or release Executive from any
other obligation regarding confidentiality, intellectual or other property, or post-employment competitive activities that Executive has or may have to the Company or any of its affiliates. Notwithstanding the foregoing and any other language in
this Agreement, this Agreement does not supersede or preclude the enforceability of any restrictive covenant provision contained in any prior agreement entered into by Executive, and no prior restrictive covenant supersedes or precludes the
enforceability of any provision contained in this Agreement. Executive confirms that, in executing this Agreement, she is not relying upon, and has not relied upon, any representation or statement not set forth in this Agreement made by the Company
or any of its affiliates or their respective employees or representatives with respect to the matters set forth herein. 

17.    This Agreement is governed by the internal laws of the State of Illinois, and may be modified only by a writing
signed by all Parties (subject to Section 9(f) above). Sections 4 through 19 of this Agreement shall survive and continue in full force and effect in accordance with their respective terms, notwithstanding any termination of the Transition
Period or the Executive’s employment. 
 18.    It is intended that any amounts payable under this Agreement will
be exempt from or comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the treasury regulations relating thereto, and this Agreement shall be interpreted and construed accordingly.
Notwithstanding any other provision in this Agreement, if Executive is a “specified employee” as of the date of Executive’s “separation from service,” each as defined in Section 409A of the Code, then to the extent any
amount payable to Executive (a) constitutes the payment of nonqualified deferred compensation within the meaning of Section 409A of the Code, (b) is payable upon Executive’s separation from service and (c) under the terms of
this Agreement would be payable prior to the six-month anniversary of Executive’s separation from service, such payment shall be delayed until the earlier to occur of (x) the first day of the seventh
month following Executive’s separation from service or (y) the date of the Executive’s death. Any reimbursement payable to Executive pursuant to this Agreement shall in no event be paid later than the last day of the calendar year
following the calendar year in which the Executive incurred the reimbursable expense. Any amount of expenses eligible for reimbursement or in-kind benefit provided during a calendar year shall not affect the
amount of expenses eligible for reimbursement or in-kind benefit to be provided during any other calendar year. The right to reimbursement or to an in-kind benefit
pursuant to this Agreement shall not be subject to liquidation or exchange for any other benefit. 
 19.    This
Agreement may be executed in two counterparts, each of which shall be deemed an original, and both of which together shall constitute one and the same instrument. 

  
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 THE PARTIES STATE THAT THEY HAVE READ THE FOREGOING, UNDERSTAND EACH OF ITS TERMS, AND INTEND TO BE BOUND
THEREBY: 
  

									
	CHRISTINE M. CASTELLANO	 		 	INGREDION INCORPORATED
					
	By:	 	/s/ Christine M. Castellano	 		 	By:	 	/s/ Elizabeth Adefioye
		 		 		 		 	Elizabeth Adefioye
		 		 		 		 	Senior Vice President and Chief Human Resources Officer
					
	Date:	 	December 14, 2018	 		 	Date:	 	December 14, 2018

  
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 EXHIBIT A — SUPPLEMENTAL RELEASE 

Christine M. Castellano (“Executive”) and Ingredion Incorporated (“Company”) hereby enter into this Supplemental Release
(“Release”) in accordance with the Confidential Separation Agreement and General Release between Company and Executive dated as of
                                ,
         (the “Agreement”). Capitalized terms not expressly defined in this Release shall have the meanings set forth in the Agreement: 

1.    Executive understands and agrees that Executive’s execution of this Release within 21 days after (but not
before) the Separation Date (without revoking it) is among the conditions precedent to the Company’s obligation to provide the payments and other benefits in Section 2 of the Agreement. The Company will provide such benefits in accordance
with the terms of the Agreement once the conditions set forth therein and in this Release have been met. 

2.    “Released Parties” as used in this Release includes: (a) the Company and its past, present, and
future parents, divisions, subsidiaries, partnerships, affiliates, and other related entities; (b) each of the foregoing entities’ and persons’ past, present, and future owners, trustees, fiduciaries, administrators, shareholders,
directors, officers, partners, members, associates, agents, employees, and attorneys; and (c) the predecessors, successors and assigns of each of the foregoing persons and entities. 

3.    Executive, and anyone claiming through her or on her behalf, hereby waive and release the Company and the other
Released Parties with respect to any and all claims, whether currently known or unknown, that Executive now has or has ever had against the Company or any of the other Released Parties arising from or related to any act, omission, or thing occurring
or existing at any time prior to or on the date on which she signs this Release. Without limiting the foregoing, the claims waived and released by Executive hereunder include, but are not limited to, all claims under the Age Discrimination in
Employment Act; all claims under any other federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of law; all claims arising out of Executive’s employment,
compensation, other terms and conditions of employment, or termination from employment; all claims for employment discrimination, harassment, retaliation and failure to accommodate; and all contract, tort and other common law claims, including
without limitation all claims for breach of contract (oral, written or implied), wrongful termination, defamation, invasion of privacy, infliction of emotional distress, tortious interference, fraud, estoppel and unjust enrichment. Notwithstanding
the foregoing, the releases and waivers in this Section 3 shall not apply to any claim for unemployment or workers’ compensation, or a claim that by law is non-waivable. 

4.    In exchange for Executive’s release of all claims, the Company hereby waives and releases the Executive with
respect to any and all claims, whether currently known or unknown, that the Company now or has ever had against Executive arising from or relating to any act, omission, or thing occurring or existing at any time prior to or on the date on which
Company signs this Agreement with the exception of any claim arising out of material misconduct by Executive (including without limitation theft, fraud, violation of any fiduciary obligations Executive owes to the Company) or breach of this
Agreement. 
 5.    Executive confirms that Executive has not filed any legal or other proceeding(s) against any of the
Released Parties (subject to Section 7 below), is the sole owner of and has not transferred the claims released herein, and has the full right to grant the releases and agreements in this Release. To the extent permitted by law, Executive
agrees that if any claim is made based on any matter released herein, Executive hereby waives, and agrees that Executive shall not be entitled to recover and the Released Parties shall not be liable for, any further monetary or other relief arising
out of or related to any such matter, for any actual or alleged personal injury or damages to Executive, including without limitation any costs, expenses and attorneys’ fees incurred by or on behalf of Executive (it being understood, however,
that this Release does not limit Executive’s right to receive an award from a governmental or regulatory entity for information provided to such an entity, and not as compensation for actual or alleged personal injury or damages to Executive).

 6.    EXECUTIVE UNDERSTANDS AND AGREES THAT: (A) THIS IS THE
FULL AND FINAL RELEASE OF ALL CLAIMS AGAINST THE RELEASED PARTIES THROUGH THE DATE SHE SIGNS THIS RELEASE; (B) SHE KNOWINGLY AND VOLUNTARILY RELEASES CLAIMS HEREUNDER FOR VALUABLE CONSIDERATION; (C) SHE HEREBY IS AND HAS BEEN ADVISED OF
HER RIGHT TO HAVE HER ATTORNEY REVIEW THIS RELEASE (AT HER COST) BEFORE SIGNING IT; (D) SHE HAS 21 DAYS TO CONSIDER WHETHER TO SIGN THIS RELEASE; AND (E) SHE MAY, AT HER SOLE OPTION, REVOKE THIS RELEASE UPON WRITTEN NOTICE DELIVERED TO
INGREDION INCORPORATED, ATTN: SENIOR VICE PRESIDENT AND CHIEF HUMAN RESOURCES OFFICER, 5 WESTBROOK CORPORATE CENTER, WESTCHESTER, ILLINOIS 60154, WITHIN 7 DAYS AFTER SIGNING IT. THIS RELEASE WILL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THIS 7-DAY PERIOD HAS EXPIRED AND WILL BE VOID IF EXECUTIVE REVOKES IT WITHIN SUCH PERIOD. EXECUTIVE AGREES THAT ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS RELEASE, DO NOT RESTART OR AFFECT IN ANY MANNER THE
ORIGINAL UP TO 21 CALENDAR DAY CONSIDERATION PERIOD. 
 7.    Except as required by law, Executive will not disclose
the existence or terms of this Release to anyone except Executive’s accountants, attorneys and spouse, provided that each such person shall be bound by this confidentiality provision and Executive shall ensure such confidentiality. Nothing in
this Release is intended to or shall be construed as an admission by any of the Released Parties that any of them violated any law, breached any obligation or otherwise engaged in any improper or illegal conduct with respect to Executive or
otherwise. The Released Parties expressly deny any such illegal or wrongful conduct. Notwithstanding anything to the contrary herein, this Release does not prohibit either party, where applicable, from confidentially or otherwise communicating or
filing a charge or complaint with a governmental or regulatory entity, participating in a governmental or regulatory entity investigation, or giving truthful testimony or statements or other disclosures to a federal, state or local
governmental or regulatory entity, in each case without having to disclose any such conduct to the other party, or from responding if properly subpoenaed or otherwise required to do so under applicable law. 

8.    This Release and the Agreement are the entire agreement of the Parties regarding the matters described in such
agreements and supersede any and all prior and/or contemporaneous agreements, oral or written, between the Parties regarding such matters. Notwithstanding the foregoing and any other language in this Release and the Agreement, neither this Release
nor the Agreement supersedes or precludes the enforceability of any restrictive covenant provision contained in any prior agreement entered into by Executive, and no prior restrictive covenant supersedes or precludes the enforceability of any
provision contained in this Release or the Agreement. 
 9.    This Release is governed by Illinois law, may be signed
in counterparts, and may be modified only by a writing signed by all Parties. 
 [Signatures on following page] 

  
 2 

 THE PARTIES STATE THAT THEY HAVE READ AND UNDERSTAND THE FOREGOING AND KNOWINGLY AND
VOLUNTARILY INTEND TO BE BOUND THERETO: 
  

									
	CHRISTINE M. CASTELLANO	 		 	INGREDION INCORPORATED
					
	By:	 	 	 		 	By:	 	 
		 		 		 		 	Elizabeth Adefioye
		 		 		 		 	Senior Vice President and Chief Human Resources Officer
					
	Date:	 	 	 		 	Date:	 	 

  
 3EX-4.1

 Exhibit 4.1 

UNITEDHEALTH GROUP INCORPORATED 

$750,000,000 3.500% Notes due February 15, 2024 

Officers’ Certificate and Company Order 

Pursuant to the Indenture, dated as of February 4, 2008 (the “Indenture”), between UnitedHealth Group Incorporated, a Delaware
corporation (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”), and resolutions adopted by the Company’s Board of Directors on October 30, 2007, this Officers’ Certificate and Company
Order is being delivered to the Trustee to establish the terms of a series of Securities in accordance with Section 301 of the Indenture, to establish the form of the Securities of such series in accordance with Section 201 of the
Indenture, to request the authentication and delivery of the Securities of such series pursuant to Section 303 of the Indenture and to comply with the provisions of Section 102 of the Indenture. This Officers’ Certificate and Company
Order shall be treated for all purposes under the Indenture as a supplemental indenture thereto. 
 All conditions precedent provided for in
the Indenture relating to (i) the establishment of a series of Securities, (ii) the establishment of the form of Securities of such series and (iii) the procedures for authentication and delivery of such series of Securities have been
complied with. 
 Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Indenture.

  

	A.	 Establishment of a Series of Securities pursuant to Section 301 of the Indenture.

 There is hereby established pursuant to Section 301 of the Indenture a series of Securities which shall have the
following terms: 
  

	 	(1)	 The Securities shall bear the title “3.500% Notes due February 15, 2024” (referred to herein as the
“Notes”). 

  

	 	(2)	 The aggregate principal amount of the Notes to be issued pursuant to this Officers’ Certificate and
Company Order shall be limited to $750,000,000 except for (a) Notes authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section 304, 305, 306, or 1007 of the
Indenture, (b) Notes which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered thereunder and (c) any Securities of this series which are issued in the manner contemplated by paragraph
19(a) hereof. 

  

	 	(3)	 Interest shall be payable to the Person in whose name a Note (or any Predecessor Security) is registered at the
close of business on the Regular Record Date (as defined below) immediately preceding each Interest Payment Date (as defined below). In the event that any Interest Payment Date, the date of maturity or any date of repurchase or Redemption Date falls
on a date that is not a Business Day (as defined below), the related payment of principal and interest shall be postponed to the next succeeding Business Day, but the payment made on such date will be treated as being made on the date that the
payment was first due and the holders of the Notes shall not be entitled to any further interest or other payments with respect to such postponement. “Business Day” shall mean any day other than a Saturday, a Sunday or a day on which
banking institutions in New York, New York or Minneapolis, Minnesota are authorized or required by law, regulation or executive order to close. 

  

	 	(4)	 The Stated Maturity of the Notes shall be February 15, 2024. 

	 	(5)	 The Notes shall bear interest at the rate of 3.500% per annum (based upon a
360-day year of twelve 30-day months), from December 17, 2018 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the
case may be, payable semi-annually in arrears on February 15 and August 15 in each year, commencing February 15, 2019, until the principal thereof is paid or made available for payment. Each such February 15 and
August 15 shall be an “Interest Payment Date” for the Notes, and each February 1 and August 1 (whether or not a Business Day), as the case may be, immediately preceding an Interest Payment Date for the Notes shall be
the “Regular Record Date” for the interest payable on such Interest Payment Date. 

 The provision related to
interest on overdue principal in Section 501 of the Indenture shall not be applicable to the Notes. 
  

	 	(6)	 Principal of (and premium, if any) and interest on the Notes will be payable, and, except as provided in
Section 305 of the Indenture with respect to a Global Security (as defined below), the transfer of the Notes will be registrable and Notes will be exchangeable for notes bearing identical terms and provisions at the corporate trust office of
U.S. Bank National Association, in St. Paul, Minnesota. The method of such payment shall be by wire transfer for Notes held in book-entry form or at the option of the Company by check mailed to the Person entitled thereto as shown on the Security
Register. 

  

	 	(7)	 The Notes will be subject to redemption, in whole or in part, at any time and from time to time before February
15, 2024 (their Stated Maturity), at the option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled
payments of principal and interest on the Notes to be redeemed (excluding the portion of any such interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a
360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined below), plus 12.5 basis points, plus, in each case, accrued and unpaid interest
thereon to, but not including, the Redemption Date. 

 For this purpose, the following terms have the following meanings:

  

	 	•	 	 “Treasury Yield” means, with respect to any Redemption Date, the rate per year equal to the semi-annual
equivalent yield to maturity or interpolated (on a day-count basis) yield to maturity of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage
of its principal amount) equal to the applicable Comparable Treasury Price for such Redemption Date. 

  

	 	•	 	 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker appointed by the Trustee after consultation with the Company as having an actual or interpolated maturity comparable to the remaining term of the Notes being redeemed, or such other maturity that would be utilized at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes being redeemed. 

 

	 	•	 	 “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Trustee obtains fewer than four such Reference Treasury
Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 

  
 2 

	 	•	 	 “Independent Investment Banker” means any of J.P. Morgan Securities LLC, Citigroup Global Markets Inc.,
Deutsche Bank Securities Inc., Mizuho Securities USA LLC, U.S. Bancorp Investments, Inc. or their respective successors or, if such firms are unwilling or unable to select the Comparable Treasury Issue, one of the remaining Reference Treasury
Dealers appointed by the Trustee after consultation with the Company. 

  

	 	•	 	 “Reference Treasury Dealer” means each of (i) J.P. Morgan Securities LLC, Citigroup Global Markets
Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC or their affiliates; (ii) any other primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) designated by, and not affiliated with,
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC or U.S. Bancorp Investments, Inc.; provided, however, in the case of (i) and (ii), that if any of the foregoing shall cease to
be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute for such entity; and (iii) any other Primary Treasury Dealer selected by the Trustee. 

 

	 	•	 	 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed, in each case, as a percentage of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date. 

 A notice of redemption
may provide that it is subject to certain conditions that will be specified in the notice. If those conditions are not met, the redemption notice will be of no effect and the Company will not be obligated to redeem the Notes. 

A partial redemption of the Notes may be effected on a pro rata basis (and in such manner as complies with applicable legal and stock exchange
requirements, if any) or in such method as the Trustee, in the exercise of its reasonable discretion, deems fair and appropriate. The Trustee may provide for the selection for redemption of portions in amounts of $1,000 or whole multiples of $1,000;
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. 

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of the Notes to
be redeemed. 
 Unless any Note called for redemption shall not be paid upon surrender thereof for redemption, on and after the Redemption
Date interest will cease to accrue on the Notes or portions thereof called for redemption. 
  

	 	(8)	 The Company shall not be obligated to redeem or purchase any Notes pursuant to any sinking fund or analogous
provisions. 

  

	 	(9)	 If a Change of Control Triggering Event (as defined below) occurs, unless the Company has exercised its option
to redeem all the Notes of this series, the Company shall be required to make an offer (a “Change of Control Offer”) to each Holder of the Notes of this series to 

  
 3 

	 	
repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes on the terms set forth herein. In a Change of Control Offer, the
Company shall be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes of this series repurchased, plus accrued and unpaid interest, if any, on the Notes of this series repurchased to, but not including, the date
of repurchase (a “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that
constitutes or may constitute the Change of Control, a notice shall be transmitted to Holders of the Notes of this series describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase
such Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is transmitted (a “Change of Control Payment Date”). The notice shall, if transmitted prior to
the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. 

In order to accept the Change of Control Offer, the Holder must deliver to the Paying Agent, at least five Business Days prior to the Change
of Control Payment Date, the Holder’s Note together with the form entitled “Election Form” (which form is annexed to the Note) duly completed, or a telegram, telex, facsimile transmission or a letter from a member of a national
securities exchange, or the Financial Industry Regulatory Authority or a commercial bank or trust company in the United States setting forth: 
  

	 	(i)	 the name of the Holder of the Note; 

 

	 	(ii)	 the principal amount of the Note; 

 

	 	(iii)	 the principal amount of the Note to be repurchased; 

 

	 	(iv)	 the certificate number or a description of the tenor and terms of the Note; 

 

	 	(v)	 a statement that the Holder is accepting the Change of Control Offer; and 

 

	 	(vi)	 a guarantee that the Note, together with the form entitled “Election Form” duly completed, will be
received by the Paying Agent at least five Business Days prior to the Change of Control Payment Date. 

 Any exercise by a
Holder of its election to accept the Change of Control Offer shall be irrevocable. The Change of Control Offer may be accepted for less than the entire principal amount of the Note, but in that event the principal amount of the Note remaining
outstanding after repurchase must be equal to $2,000 or an integral multiple of $1,000 in excess thereof. 
 On the Change of Control
Payment Date, the Company shall, to the extent lawful: 
  

	 	(i)	 accept for payment all Notes of this series or portions of such Notes properly tendered pursuant to the Change
of Control Offer; 

  

	 	(ii)	 deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes of this
series or portions of such Notes properly tendered; and 

  

	 	(iii)	 deliver or cause to be delivered to the Trustee the Notes of this series properly accepted together with an
Officers’ Certificate stating the aggregate principal amount of Notes of this series or portions of such Notes being repurchased. 

  
 4 

 The Company shall not be required to make a Change of Control Offer upon the occurrence of
a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party purchases all Notes of this series properly
tendered and not withdrawn under its offer. In addition, the Company shall not repurchase any Notes of this series if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a
default in the payment of the Change of Control Payment upon a Change of Control Triggering Event. 
 The Company shall comply with the
requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (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 of this series as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of
Control Offer provisions of the Notes of this series, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions of the Notes of this
series by virtue of any such conflict. 
 For purposes of the Change of Control Offer provisions of the Notes of this series, the following
terms have the following meanings: 
  

	 	•	 	 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale,
lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any
person, other than the Company or a Subsidiary; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock into which the
Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or
merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property,
other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any
direct or indirect parent company of the surviving person immediately after giving effect to such transaction; (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or
(5) the adoption of a plan relating to the Company’s liquidation or dissolution. Notwithstanding the foregoing, a transaction shall not be deemed to involve a Change of Control under clause (2) above if (i) the Company becomes a
direct or indirect wholly-owned subsidiary of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the
Company’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or
indirectly, of more than 50% of the Voting Stock of such holding company. The term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act. 

  
 5 

	 	•	 	 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating
Event. 

  

	 	•	 	 “Continuing Directors” means, as of any date of determination, any member of the Company’s Board
of Directors who (1) was a member of such Board of Directors on the date the Notes of this series were issued or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for
election as a director). 

  

	 	•	 	 “Fitch” means Fitch, Inc., and its successors. 

 

	 	•	 	 “Investment Grade Rating” means a rating equal to or higher than
BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating
from any replacement Rating Agency or Rating Agencies selected by the Company. 

  

	 	•	 	 “Moody’s” means Moody’s Investors Service, Inc., and its successors. 

 

	 	•	 	 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch,
Moody’s or S&P ceases to rate the Notes of this series or fails to make a rating of such Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within
the meaning of Section 3(a)(62) under the Exchange Act selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may
be. 

  

	 	•	 	 “Rating Event” means the rating on the Notes of this series is lowered by each of the three Rating
Agencies and the Notes of this series are rated below an Investment Grade Rating by each of the three Rating Agencies on any day during the period (which period shall be extended so long as the rating of the Notes of this series is under publicly
announced consideration for a possible downgrade by any of the Rating Agencies) commencing on the date of the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60
days following consummation of such Change of Control. 

  

	 	•	 	 “S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors.

  

	 	•	 	 “Voting Stock” means, with respect to any specified “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

 

	 	(10)	 The Notes shall not be convertible into shares of Common Stock of the Company or exchangeable for any other
securities. 

  

	 	(11)	 The Trustee shall be the Security Registrar and the Paying Agent. 

 

	 	(12)	 The amount of payments of principal of and any premium or interest on the Notes will not be determined with
reference to an index. 

  
 6 

	 	(13)	 The Notes shall be subject to the covenants and definitions set forth in the Indenture. 

 

	 	(14)	 The Notes will be issued only in fully registered form and the minimum initial purchase amounts of the Notes
shall be $2,000 and any whole multiples of $1,000 in excess thereof. 

  

	 	(15)	 The Notes shall be subject to the Events of Default specified in Section 701, paragraphs (i) through
(vii), of the Indenture. 

  

	 	(16)	 The portion of the principal amount of the Notes which shall be payable upon declaration of acceleration of
maturity thereof shall not be less than the principal amount thereof. 

  

	 	(17)	 The Notes shall be “Global Securities” as defined in the Indenture, and shall be deposited with, or
on behalf of, The Depository Trust Company, New York, New York, as Depositary, registered in the name of a nominee of the Depositary. So long as the Depositary or its nominee is the registered holder of any Global Security, the Depositary or its
nominee, as the case may be, shall be considered the sole Holder of the Notes represented by such Global Security for all purposes under the Indenture. The forms and terms of the Notes and the Trustee’s certificate of authentication shall be
substantially as set forth on Exhibit B hereto. The terms and provisions contained in the form of Notes set forth on Exhibit B hereto shall constitute, and are hereby expressly made, a part of the Indenture as supplemented by this
Officers’ Certificate and Company Order. 

  

	 	(18)	 The defeasance provisions set forth in Article IX of the Indenture shall apply to the Notes.

  

	 	(19)	 The following additional terms shall apply to the Notes: 

 

	 	(a)	 Further Issuances. The Company may, so long as no Event of Default has occurred, without the consent of
the Holders of the Notes, issue additional notes with the same terms as the Notes in accordance with the corporate authority existing at the time of such additional issuance, and such additional notes shall be considered part of the same series
under the Indenture as the Notes and will vote together with the Notes as one class on all matters with respect to the Notes, except that if the additional notes are not fungible for U.S. federal income tax purposes with the Notes, the additional
notes will be issued under a separate CUSIP number. 

  

	 	(b)	 Transfer and Exchange. 

 

	 	(i)	 The transfer and exchange of Global Securities or beneficial interests therein shall be effected through the
Depositary, in accordance with this Officers’ Certificate and Company Order (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor. A transferor of a beneficial interest in a
Global Security shall deliver to the Security Registrar a written order given in accordance with the Depositary’s procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in
the Global Security. The Security Registrar shall, in accordance with such instructions, instruct the Depositary to credit to the account of the Person specified in such instructions a beneficial interest in the Global Security and to debit the
account of the Person making the transfer the beneficial interest in the Global Security being transferred. Each Holder of a Security agrees to indemnify the Company and the Trustee against any liability that may result from the transfer, exchange
or assignment of such Holder’s Security in violation of any provision of the Indenture and/or applicable United States federal or state securities law. 

  
 7 

	 	(ii)	 Each Global Security shall bear the global security legend set forth on Exhibit A hereto.

  

	 	(20)	 The CUSIP number for the global Note is 91324PDM1 and the ISIN number for the global Note is US91324PDM14.

  

	B.	 Establishment of Forms of Securities Pursuant to Section 201 of Indenture.

 It is hereby established, pursuant to Section 201 of the Indenture, that the Global Security representing the
Notes shall be substantially in the form attached as Exhibit B hereto. 
  

	C.	 Order for the Authentication and Delivery of Securities Pursuant to Section 303 of the
Indenture. 

 It is hereby ordered pursuant to Section 303 of the Indenture that the Trustee authenticate, in the
manner provided by the Indenture, the Notes in the aggregate principal amount of $750,000,000 registered in the name of Cede & Co., which Notes have been heretofore duly executed by the proper officers of the Company and delivered to
you as provided in the Indenture, and to deliver said authenticated Notes to or on behalf of The Depository Trust Company on or before 10:30 a.m., Central Time, on December 17, 2018. 

 

	D.	 Other Matters. 

The Company has provided to the Trustee true and correct copies of resolutions adopted by the Board of Directors of the Company on
October 30, 2007, January 18, 2008 and February 8, 2017; such resolutions have not been further amended, modified or rescinded and remain in full force and effect except as otherwise provided therein; and such resolutions (together
with this Officers’ Certificate and Company Order) are the only resolutions or other action adopted by the Company’s Board of Directors or any committee thereof or by any officers of the Company relating to the offering and sale of the
Notes. 
 The undersigned Senior Vice President and Treasurer being an Authorized Representative as defined in the resolutions of the Board
of Directors of the Company adopted on October 30, 2007 certifies that (i) he has approved the terms of the Notes as set forth in this Officers’ Certificate and Company Order, (ii) he has approved and ratified the terms and form
of the Underwriting Agreement (the “Underwriting Agreement”) and the Pricing Agreement (the “Pricing Agreement”), each dated December 13, 2018, by and among the Company and J.P. Morgan Securities LLC, Citigroup Global Markets
Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC and U.S. Bancorp Investments, Inc., as representatives of the underwriters named in Schedule I to the Pricing Agreement, and (iii) he has approved and ratified the Indenture, all in
accordance with the authority of such officer pursuant to such resolutions. 
 The undersigned have read the pertinent sections of the
Indenture including the related definitions contained therein. The undersigned have examined the resolutions adopted by the Board of Directors of the Company. In the opinion of the undersigned, the undersigned have made such examination or
investigation as is necessary to enable the undersigned to express an informed opinion as to whether or not the conditions precedent to (i) the establishment of the Notes, (ii) the establishment of the form of the Notes and (iii) the
authentication of the Notes contained in the Indenture have been complied with. In the opinion of the undersigned, such conditions have been complied with. 

Simpson Thacher & Bartlett LLP, Dannette L. Smith, Senior Deputy General Counsel for the Company, and Hogan Lovells US LLP are
entitled to rely on this Officers’ Certificate and Company Order in connection with the opinions they are rendering pursuant to Sections 10(b), 10(c), and 10(d), respectively, of the Underwriting Agreement. 

  
 8 

 IN WITNESS WHEREOF, the undersigned have executed this Officers’ Certificate and
Company Order this 17th day of December, 2018. 
  

	
	UNITEDHEALTH GROUP INCORPORATED
	
	 /s/ Peter M. Gill

	Peter M. Gill
	Senior Vice President and Treasurer
	
	 /s/ Dannette L. Smith

	Dannette L. Smith
	Secretary to the Board of Directors

 EXHIBIT A 

FORM OF LEGENDS 
 Global Security
Legend 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO BELOW AND IS REGISTERED IN THE NAME
OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE
(OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET,
NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 EXHIBIT B 

FORM OF GLOBAL SECURITY 

[See attached.] 

 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO BELOW AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO
TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER
STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN. 
  

					
	REGISTERED	  	 UNITEDHEALTH GROUP

INCORPORATED
	  	$[            ]
	No. [    ]	  	 3.500% Notes due

February 15, 2024
	  	 CUSIP No. 91324PDM1
 ISIN No.
US91324PDM14

 UNITEDHEALTH GROUP INCORPORATED, a Delaware corporation (hereinafter called the “Company,”
which term includes any successor corporation under the Indenture referred to on the reverse side hereof), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[                ] Dollars ($[        ]) on February 15, 2024 (the “Stated Maturity”), and to pay interest
thereon from December 17, 2018 or from the most recent date to which interest has been paid or duly provided for, semi-annually in arrears on February 15 and August 15 in each year (each, an “Interest Payment Date”),
commencing February 15, 2019, and at maturity, at the rate of 3.500% per annum, until the principal hereof is paid or duly made available for payment. Interest on this Note shall be calculated on the basis of a
360-day year consisting of twelve 30-day months. The interest so payable and punctually paid or duly provided for on any Interest Payment Date shall, as provided in the
Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the “Regular Record Date” for such interest, which shall be the February 1 or August 1
(whether or not a Business Day, as hereinafter defined) immediately preceding each such Interest Payment Date. Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith
cease to be payable to the registered Holder hereof on the relevant Regular Record Date by virtue of having been such Holder, and may be paid (i) to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Note not less than 10 days prior to such Special Record Date, or (ii) in any
other lawful manner not inconsistent with the requirements of any securities exchange on which this Note may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed
payment pursuant to this clause (ii), such manner of payment shall be deemed practicable by the Trustee. In the event that any Interest Payment Date, the date of 

 
maturity or any date of repurchase or Redemption Date falls on a date that is not a Business Day, the related payment of principal and interest shall be postponed to the next succeeding Business
Day, but the payment made on such date will be treated as being made on the date that the payment was first due and the Holder of this Note shall not be entitled to any further interest or other payments with respect to such postponement.
“Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in New York, New York or Minneapolis, Minnesota are authorized or required by law, regulation or executive order to close. 

Payment of the principal of and the interest on this Note will be made at the corporate trust office of U.S. Bank National Association, in St.
Paul, Minnesota, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. The method of such payment shall be by wire transfer for a Note held in book-entry form or
at the option of the Company by check mailed to the Person entitled thereto as shown on the Security Register. Payment of the principal of and interest on this Note due at maturity will be made in immediately available funds upon presentation of
this Note. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse side hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by or on behalf of the Trustee under the Indenture by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose. 

[SIGNATURE PAGE TO FOLLOW] 

  
 2 

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

Dated: December 17, 2018 
  

					
	UNITEDHEALTH GROUP INCORPORATED
		
	By:	 	  

		 	Name:	 	Peter M. Gill
		 	Title:	 	Senior Vice President and Treasurer
		
	Attest:	 	  

		 	Name:	 	Dannette L. Smith
		 	Title:	 	Secretary to the Board of Directors

 TRUSTEE’S CERTIFICATE OF 

AUTHENTICATION 
 This is one of the
Securities of the 
 series designated herein and issued 

pursuant to the within-mentioned 
 Indenture. 

Dated: December 17, 2018 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 
  

			
	By:	 	  

		 	Authorized Signatory

 UnitedHealth Group Incorporated 

3.500% Notes due February 15, 2024 

 [REVERSE SIDE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”) issued and to be issued in one
or more series under an indenture, dated as of February 4, 2008, between the Company and U.S. Bank National Association, as trustee (the “Trustee,” which term includes any successor trustee), as further supplemented by an
Officers’ Certificate and Company Order, dated December 17, 2018, pursuant to Section 301 of the indenture (together, the “Indenture”) between the Company and the Trustee, to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is one of the series designated on the face hereof, limited in initial aggregate principal amount to $750,000,000; provided, however, that the Company may, so long as no Event of Default has occurred and
is continuing, without the consent of the Holders of the Notes of this series, issue additional notes with the same terms as the Notes of this series, and such additional notes shall be considered part of the same series under the Indenture as the
Notes of this series. 
 Optional Redemption 

This Note is redeemable, in whole or in part, at any time and from time to time before February 15, 2024 (its Stated Maturity), at the
option of the Company at a Redemption Price equal to the greater of (i) 100% of the principal amount of this Note to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on this Note
to be redeemed (excluding the portion of any such interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined below), plus 12.5 basis points, plus, in each case, accrued and unpaid interest thereon to, but not including, the Redemption Date. 

For this purpose, the following terms have the following meanings: 
  

	 	•	 	 “Treasury Yield” means, with respect to any Redemption Date, the rate per year equal to the semi-annual
equivalent yield to maturity or interpolated (on a day-count basis) yield to maturity of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage
of its principal amount) equal to the applicable Comparable Treasury Price for such Redemption Date. 

  

	 	•	 	 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker appointed by the Trustee after consultation with the Company as having an actual or interpolated maturity comparable to the remaining term of this Note being redeemed, or such other maturity that would be utilized at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of this Note being redeemed. 

 

	 	•	 	 “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations for such Redemption Date, or (ii) if the Trustee obtains fewer than four such Reference Treasury
Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 

  

	 	•	 	 “Independent Investment Banker” means any of J.P. Morgan Securities LLC, Citigroup Global Markets Inc.,
Deutsche Bank Securities Inc., Mizuho Securities USA LLC, U.S. Bancorp Investments, Inc. or their respective successors or, if such firms are unwilling or unable to select the Comparable Treasury Issue, one of the remaining Reference Treasury
Dealers appointed by the Trustee after consultation with the Company. 

  
 4 

	 	•	 	 “Reference Treasury Dealer” means each of (i) J.P. Morgan Securities LLC, Citigroup Global Markets
Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC or their affiliates; (ii) any other primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) designated by, and not affiliated with,
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC or U.S. Bancorp Investments, Inc.; provided, however, in the case of (i) and (ii), that if any of the foregoing shall cease to
be a Primary Treasury Dealer, the Company will appoint another Primary Treasury Dealer as a substitute for such entity; and (iii) any other Primary Treasury Dealer selected by the Trustee. 

 

	 	•	 	 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed, in each case, as a percentage of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date. 

 A notice of redemption
may provide that it is subject to certain conditions that will be specified in the notice. If those conditions are not met, the redemption notice will be of no effect and the Company will not be obligated to redeem this Note. 

A partial redemption of the Notes may be effected on a pro rata basis (and in such manner as complies with applicable legal and stock exchange
requirements, if any) or in such method as the Trustee, in the exercise of its reasonable discretion, deems fair and appropriate. The Trustee may provide for the selection for redemption of portions in amounts of $1,000 or whole multiples of $1,000;
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. 

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of the Notes to
be redeemed. 
 Unless any Note called for redemption shall not be paid upon surrender thereof for redemption, on and after the Redemption
Date interest will cease to accrue on the Notes or portions thereof called for redemption. 
 This Note will not be entitled to any sinking
fund. 
 Change of Control Offer 

If a Change of Control Triggering Event (as defined herein) occurs, unless the Company has exercised its option to redeem all the Notes of this
series, the Company shall be required to make an offer (a “Change of Control Offer”) to each Holder of the Notes of this series to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that
Holder’s Notes on the terms set forth herein. In a Change of Control Offer, the Company shall be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes of this series repurchased, plus accrued and unpaid
interest, if any, on the Notes of this series repurchased to, but not including, the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option,
prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice shall be transmitted to Holders of the Notes of this series describing the transaction that
constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is
transmitted (a “Change of Control Payment Date”). The notice shall, if transmitted prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event
occurring on or prior to the Change of Control Payment Date. 

  
 5 

 In order to accept the Change of Control Offer, the Holder must deliver to the Paying Agent,
at least five Business Days prior to the Change of Control Payment Date, this Note together with the form entitled “Election Form” (which form is annexed hereto) duly completed, or a telegram, telex, facsimile transmission or a letter from
a member of a national securities exchange, or the Financial Industry Regulatory Authority or a commercial bank or trust company in the United States setting forth: 

(i)    the name of the Holder of this Note; 

(ii)    the principal amount of this Note; 

(iii)    the principal amount of this Note to be repurchased; 

(iv)    the certificate number or a description of the tenor and terms of this Note; 

(v)    a statement that the Holder is accepting the Change of Control Offer; and 

(vi)    a guarantee that this Note, together with the form entitled “Election Form” duly completed, will be
received by the Paying Agent at least five Business Days prior to the Change of Control Payment Date. 
 Any exercise by a Holder of its
election to accept the Change of Control Offer shall be irrevocable. The Change of Control Offer may be accepted for less than the entire principal amount of this Note, but in that event the principal amount of this Note remaining outstanding after
repurchase must be equal to $2,000 or an integral multiple of $1,000 in excess thereof. 
 On the Change of Control Payment Date, the
Company shall, to the extent lawful: 
 (i)    accept for payment all Notes of this series or portions of such Notes
properly tendered pursuant to the Change of Control Offer; 
 (ii)    deposit with the Paying Agent an amount equal to
the Change of Control Payment in respect of all Notes of this series or portions of such Notes properly tendered; and 

(iii)    deliver or cause to be delivered to the Trustee the Notes of this series properly accepted together with an
Officers’ Certificate stating the aggregate principal amount of Notes of this series or portions of such Notes being repurchased. 

The Company shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third
party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party purchases all Notes of this series properly tendered and not withdrawn under its offer. In
addition, the Company shall not repurchase any Notes of this series if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a default in the payment of the Change of Control
Payment upon a Change of Control Triggering Event. 
 The Company shall comply with the requirements of Rule
14e-1 under the Securities Exchange Act of 1934, as amended (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 of this series as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the
Notes of this series, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions of the Notes of this series by virtue of any such
conflict. 

  
 6 

 For purposes of the Change of Control Offer provisions of the Notes of this series, the
following terms are applicable: 
  

	 	•	 	 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale,
lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any
person, other than the Company or a Subsidiary; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock into which the
Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or
merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property,
other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any
direct or indirect parent company of the surviving person immediately after giving effect to such transaction; (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or
(5) the adoption of a plan relating to the Company’s liquidation or dissolution. Notwithstanding the foregoing, a transaction shall not be deemed to involve a Change of Control under clause (2) above if (i) the Company becomes a
direct or indirect wholly-owned subsidiary of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the
Company’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or
indirectly, of more than 50% of the Voting Stock of such holding company. The term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act. 

 

	 	•	 	 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating
Event. 

  

	 	•	 	 “Continuing Directors” means, as of any date of determination, any member of the Company’s Board
of Directors who (1) was a member of such Board of Directors on the date the Notes of this series were issued or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for
election as a director). 

  

	 	•	 	 “Fitch” means Fitch, Inc., and its successors. 

 

	 	•	 	 “Investment Grade Rating” means a rating equal to or higher than
BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating
from any replacement Rating Agency or Rating Agencies selected by the Company. 

  

	 	•	 	 “Moody’s” means Moody’s Investors Service, Inc., and its successors. 

  
 7 

	 	•	 	 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch,
Moody’s or S&P ceases to rate the Notes of this series or fails to make a rating of such Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within
the meaning of Section 3(a)(62) under the Exchange Act selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may
be. 

  

	 	•	 	 “Rating Event” means the rating on the Notes of this series is lowered by each of the three Rating
Agencies and the Notes of this series are rated below an Investment Grade Rating by each of the three Rating Agencies on any day during the period (which period shall be extended so long as the rating of the Notes of this series is under publicly
announced consideration for a possible downgrade by any of the Rating Agencies) commencing on the date of the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60
days following consummation of such Change of Control. 

  

	 	•	 	 “S&P” means S&P Global Ratings, a division of S&P Global Inc., and its successors.

  

	 	•	 	 “Voting Stock” means, with respect to any specified “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

Miscellaneous Provisions 
 If an
Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture contains provisions for defeasance at any time of the Company’s obligations in respect of (i) the entire indebtedness
of this Note or (ii) certain restrictive covenants with respect to this Note, in each case upon compliance with certain conditions set forth therein. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series issued under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the
Securities of all series at the time Outstanding affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of any series at the time Outstanding to waive
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Notes issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

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

As provided in the Indenture and subject to certain limitations set forth therein and in this Note, the transfer of this Note is registrable
in the registry books of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company where the principal of (and premium, if any) and interest on this Note are payable, duly endorsed, or accompanied
by a written instrument of transfer in form 

  
 8 

 
satisfactory to the Company and the Trustee, duly executed by the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes of this series are
issuable only in fully registered form without coupons in minimal initial purchase amounts of $2,000 and whole multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes of this
series are exchangeable for a like aggregate principal amount of Notes of this series which are of like tenor for any authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith, other than in certain cases provided in the Indenture. 
 Prior
to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this
Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This Note shall be
governed by and construed in accordance with the laws of the State of New York, without regard to its conflicts of laws provisions. 
 All
capitalized terms used in this Note which are not defined herein shall have the meanings assigned to them in the Indenture. 

  
 9 

 ASSIGNMENT FORM 

I or we assign and transfer this Note to 
  

					
	  

	
	  

	(Print or type name, address and zip code of assignee or transferee)
	
	  

	
	(Insert Social Security or other identifying number of assignee or transferee)
	
	and irrevocably appoint
                                         
                    agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for
him.

							
				
	Dated:                                     
                                        	 	                            	 	Signed:	 	
                     
                                         
                   

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

					
			
	Signature Guarantee:	 	  
	 	
		 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)	 	

  
 10 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

Initial Principal Amount at maturity of Global Security:
[                ] Dollars ($[        ]). 

The following exchanges of a part of this Global Security for an interest in another Global Security or for a certificated note, or exchanges of a part of
another Global Security or certificated note for an interest in this Global Security, have been made: 
  

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

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 11 

 ELECTION FORM 

TO BE COMPLETED ONLY IF THE HOLDER 

ELECTS TO ACCEPT THE CHANGE OF CONTROL OFFER 
  

 
 The undersigned
hereby irrevocably requests and instructs the Company to repurchase the within Note (or the portion thereof specified below), pursuant to its terms, on the Change of Control Payment Date specified in the Change of Control Offer, for the Change of
Control Payment specified in the within Note, to the undersigned,
                                        ,
at
                                         
                    (please print or typewrite name and address of the undersigned). 

For this election to accept the Change of Control Offer to be effective, the Company must receive, at the address of the Paying Agent set
forth below or at such other place or places of which the Company shall from time to time notify the Holder of the within Note, either (i) this Note with this “Election Form” form duly completed, or (ii) a telegram, telex,
facsimile transmission or a letter from a member of a national securities exchange or the Financial Industry Regulatory Authority or a commercial bank or a trust company in the United States setting forth (a) the name of the Holder of the Note,
(b) the principal amount of the Note, (c) the principal amount of the Note to be repurchased, (d) the certificate number or description of the tenor and terms of the Note, (e) a statement that the option to elect repurchase is
being exercised, and (f) a guarantee stating that the Note to be repurchased, together with this “Election Form” duly completed will be received by the Paying Agent five Business Days prior to the Change of Control Payment Date. The
address of the Paying Agent is U.S. BANK NATIONAL ASSOCIATION, 60 Livingston Avenue, EP-MN-WS3C, St. Paul, MN 55107-2292. 

If less than the entire principal amount of the within Note is to be repurchased, specify the portion thereof (which principal amount must be
$2,000 or an integral multiple of $1,000 in excess thereof) which the Holder elects to have repurchased: $        . 

  
 12

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