Document:

EX-4.2

 Exhibit 4.2 
 OFFICERS’ CERTIFICATE 
 The undersigned, McKesson Corporation,
a Delaware corporation (the “Company”), hereby certifies through Nicholas A. Loiacono, its Vice President and Treasurer, and Jeffrey C. Campbell, Executive Vice President and Chief Financial Officer, pursuant to Sections 2.1, 2.3 and 11.5
of the Indenture, dated as of December 4, 2012 (the “Indenture”), by and between the Company, as Issuer, and Wells Fargo Bank, National Association, as Trustee, as follows: 

1. The form and terms of the 1.40% Notes due 2018 (the “2018 Notes”), as set forth on Annex A attached hereto, and the
form and terms of the 2.85% Notes due 2023 (the “2023 Notes”), as set forth on Annex B attached hereto, have been established pursuant to Sections 2.1 and 2.3 of the Indenture and comply with the Indenture. 

2. The undersigned has read the Indenture. 
 3. The statements made in this certificate are based upon an examination of the 2018 Notes and the 2023 Notes under the Indenture, upon an examination of and familiarity with the Indenture, upon my
general knowledge of and familiarity with the operations of the Company and upon the performance of my duties as an officer of the Company. 
 4. In the opinion of the undersigned, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not the covenants and conditions provided
for in the Indenture relating to the issuance and authentication of each of the 2018 Notes and the 2023 Notes have been complied with. 
 5. In the opinion of the undersigned, with respect to the foregoing, the covenants and conditions provided for in the Indenture relating to the issuance and authentication of each of the 2018 Notes and
the 2023 Notes have been complied with. 
 Capitalized terms used herein without definition have the meanings assigned to them
in the Indenture. 

 IN WITNESS WHEREOF, the undersigned has caused this certificate to be
executed by its duly authorized officers as of this 8th
day of March, 2013. 
  

			
	McKESSON CORPORATION
		
	By:	 	 /s/ Nicholas A. Loiacono

		 	Name:  Nicholas A. Loiacono
		 	Title:    Vice President and Treasurer
		
	By:	 	 /s/ Jeffrey C. Campbell

		 	Name:  Jeffrey C. Campbell
		 	Title:    Executive Vice President and
		 	             Chief Financial Officer

 [Signature Page to Officers’ Certificate under the Indenture] 

 ANNEX A 
 Pursuant to Section 2.3 of the Indenture, dated as of December 4, 2012 (the “Indenture”), between McKesson Corporation, a Delaware corporation (the “Issuer”), and Wells Fargo
Bank, National Association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 
  

	 	1.	Designation. The designation of the securities is “1.40% Notes due 2018” (the “2018 Notes”). 

 

	 	2.	Initial Aggregate Principal Amount. The 2018 Notes shall be limited in initial aggregate principal amount to $500,000,000 (except for 2018 Notes authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other 2018 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture). 

 

	 	3.	Currency Denomination. The 2018 Notes shall be denominated in Dollars. 

 

	 	4.	Maturity. The date on which the principal of the 2018 Notes is payable is March 15, 2018. 

 

	 	5.	Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2018 Note shall bear interest from March 8, 2013 at 1.40% per annum until the
principal thereof is paid. Such interest shall be payable semi-annually in arrears on March 15 and September 15 of each year, commencing on September 15, 2013, to the persons in whose names the 2018 Notes are registered at the close
of business on the immediately preceding March 1 and September 1, respectively. Interest on the 2018 Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from March 8, 2013.
Interest on the 2018 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which principal, premium, if any, or interest is payable on the 2018 Notes is not a Business Day, then
payment of the principal, premium, if any, or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay). 

 

	 	6.	Place of Payment. Principal of, premium, if any, and interest on the 2018 Notes shall be payable, and the transfer of the 2018 Notes shall be registrable, at the
office or agency of the Issuer to be maintained for such purpose in Minneapolis, Minnesota, except that, at the option of the Issuer, interest may be paid by mailing a check to the address of the person entitled thereto as it appears on the 2018
Notes register; provided, however, that while any 2018 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2018 Notes may be made by wire transfer to the account of the
Depositary or its nominee. 

  

	 	7.	 Optional Redemption. The 2018 Notes may be redeemed, in whole, at any time, or in part, from time to time, at the option of the Issuer, for
cash, at a redemption price equal to the greater of (i) 100% of their principal amount and (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled payments of principal and
interest thereon (not 

  
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including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Rate plus 10 basis points, plus, in each case, accrued and unpaid interest thereon to, but not including, the date of redemption; provided that the principal amount of any 2018 Note remaining outstanding after a
redemption in part shall be $2,000 or a higher integral multiple of $1,000. Notwithstanding the foregoing, installments of interest on 2018 Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be
payable on the interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the 2018 Notes to be redeemed will receive notice thereof at least 30 and not more than 60 days prior to the date
fixed for redemption. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the 2018 Notes or portions thereof called for redemption. If less than all of the 2018 Notes are
to be redeemed, the 2018 Notes to be redeemed will be selected by the Trustee by lot or another method the Trustee deems to be fair and appropriate. 

 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the 2018 Notes 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 2018 Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (i) the average of four Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee is provided fewer than four such Reference Treasury Dealer Quotations, the average of all such
quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by the Issuer. 

“Reference Treasury Dealer” means (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan
Securities LLC and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall
substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Trustee and confirmed by the Issuer in an officer’s certificate, of the bid and asked prices for the 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., New York City time, on the third business day preceding such redemption date. 
 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue (expressed as a 
 percentage of its principal amount) equal to the Comparable Treasury Price on such
redemption date. 

  
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	 	8.	Change of Control. If a Change of Control Triggering Event (as defined below) occurs, unless the Issuer has previously exercised its right to redeem the 2018
Notes in whole as described above, holders of the 2018 Notes will have the right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount) of their 2018 Notes pursuant to the offer described
below (the “Change of Control Offer”); provided that the principal amount of any 2018 Note remaining outstanding after a repurchase in part shall be $2,000 or a higher integral multiple of $1,000. In the Change of Control Offer, the Issuer
will be required to offer payment in cash equal to 101% of the then outstanding aggregate principal amount of 2018 Notes repurchased plus accrued and unpaid interest, if any, on the 2018 Notes repurchased, to, but not including, the date of
repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Issuer will be required to mail a notice to holders of the 2018 Notes describing the transaction or transactions that
constitute the Change of Control Triggering Event and offering to repurchase the 2018 Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the
“Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the 2018 Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with
the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions herein by virtue of
such conflicts. 

 The paying agent will promptly mail (or, in the case of notes held in book-entry form, transmit
electronically) to each holder of the 2018 Notes properly tendered the repurchase price for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each holder a new 2018 Note equal in principal
amount to any unrepurchased portion of any 2018 Notes surrendered; provided, that each new 2018 Note will be in a principal amount of $2,000 or an integral multiple of $1,000 thereafter. 

Notwithstanding the foregoing, the Issuer will 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 a Change of Control Offer made by the Issuer and the third party repurchases all 2018 Notes properly
tendered and not withdrawn under its offer. In addition, the Issuer will not repurchase any 2018 Notes 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. 
 On the Change of Control Payment Date, the
Issuer will be required, to the extent lawful, to (i) accept for payment all 2018 Notes or portions thereof properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying

  
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agent an amount equal to the Change of Control Payment in respect of all 2018 Notes or portions thereof properly tendered; and (iii) deliver or cause to be delivered to the Trustee the 2018
Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of 2018 Notes or portions of 2018 Notes being repurchased. 
 “Below Investment Grade Rating Event” means the 2018 Notes are rated below an Investment Grade Rating by each of the Rating Agencies (as defined below) on any date from the date of the public
notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the 2018 Notes is
under publicly announced consideration for possible downgrade by any of the Rating Agencies). 
 “Change of Control”
means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of
the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other than the Issuer or one of its Subsidiaries; (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, directly or indirectly, of more than 50% of the then outstanding number of shares of the Issuer’s voting stock; or (3) the first day on which a majority of the members of
the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction will not be deemed to result in a Change of Control if (i) the Issuer becomes a wholly owned subsidiary of a holding company and
(ii) the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Issuer
who (1) was a member of such Board of Directors on the date of original issue of the 2018 Notes; or (2) was nominated for election or elected 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 or election (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee for election as a director, without objection to
such nomination). 
 “Fitch” means Fitch Inc., a subsidiary of Fimalac, S.A. 

“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. 
 “Moody’s” means Moody’s Investors Service, Inc.

 “Person” has the meaning set forth in the Indenture and includes a “person” as used in
Section 13(d)(3) of the Exchange Act. 

  
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 “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 2018 Notes or fails to make a rating of the 2018 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating
organization” within the meaning of Section 3 (a)(62) under the Exchange Act, selected by the Issuer as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 

 

	 	9.	Mandatory Redemption. The 2018 Notes are not mandatorily redeemable and are not entitled to the benefit of a sinking fund or any analogous provisions.

  

	 	10.	Denominations. The 2018 Notes shall be issued initially in minimum denominations of $2,000 and shall be issued in integral multiples of $1,000 in excess thereof.

  

	 	11.	Amount Payable Upon Acceleration. The principal of the 2018 Notes shall be payable upon declaration of acceleration pursuant to Section 5.1 of the
Indenture. 

  

	 	12.	Payment Currency. Principal and interest on the 2018 Notes shall be payable in Dollars. 

 

	 	13.	Payment Currency—Election. The principal of and interest on the 2018 Notes shall not be payable in a currency other than Dollars. 

 

	 	14.	Payment Currency—Index. The principal of and interest on the 2018 Notes shall not be determined with reference to an index based on a coin or currency.

  

	 	15.	Registered Securities. The 2018 Notes shall be issued only as Registered Securities. The 2018 Notes shall be issuable as Registered Global Securities.

  

	 	16.	Additional Amounts. The Issuer shall not pay additional amounts on the 2018 Notes held by a Person that is not a U.S. Person in respect of taxes or similar
charges withheld or deducted. 

  

	 	17.	Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2018 Notes in definitive form. 

 

	 	18.	Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying agent for the 2018 Notes. The Depository Trust Company
shall initially serve as the Depositary for the Registered Global Security representing the 2018 Notes. 

  

	 	19.	Events of Default; Covenants. There shall be no deletions from or modifications or additions to the Events of Default set forth in Section 5.1 of the
Indenture with respect to the 2018 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the Indenture with respect to the 2018 Notes: 

  
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 Limitation on Liens. The Issuer covenants that, so long as any of the 2018 Notes
remain outstanding, it shall not, nor shall it permit any Consolidated Subsidiary to, create or assume any Indebtedness for money borrowed which is secured by a mortgage, pledge, security interest or lien (“liens”) of or upon any assets,
whether now owned or hereafter acquired, of the Issuer or any such Consolidated Subsidiary without equally and ratably securing the 2018 Notes by a lien ranking equally to and ratably with (or at the option of the Issuer, senior to) such secured
Indebtedness, except that the foregoing restriction shall not apply to (a) liens on any assets of any corporation existing at the time such corporation becomes a Consolidated Subsidiary; (b) liens on any assets existing at the time of
acquisition of such assets by the Issuer or a Consolidated Subsidiary, or liens to secure the payment of all or any part of the purchase price of such assets upon the acquisition of such assets by the Issuer or a Consolidated Subsidiary or to secure
any indebtedness incurred or guaranteed by the Issuer or a Consolidated Subsidiary prior to, at the time of, or within 360 days after such acquisition (or in the case of real property, the completion of construction (including any improvements on an
existing asset) or commencement of full operation of such asset, whichever is later), which indebtedness is incurred or guaranteed for the purpose of financing all or any part of the purchase price thereof or, in the case of real property,
construction or improvements thereon; (c) liens on any assets securing indebtedness owed by any Consolidated Subsidiary to the Issuer or another wholly owned Subsidiary; (d) liens on any assets of a corporation existing at the time such
corporation is merged into or consolidated with the Issuer or a Subsidiary or at the time of a purchase, lease or other acquisition of the assets of a corporation or firm as an entirety or substantially as an entirety by the Issuer or a Subsidiary;
(e) liens on any assets of the Issuer or a Consolidated Subsidiary in favor of the United States of America or any state thereof, or any department, agency or instrumentality or political subdivision of the United States of America or any State
thereof, or in favor of any other country, or any political subdivision thereof, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred or guaranteed for the purpose of
financing all or any part of the purchase price (or, in the case of real property, the cost of construction) of the assets subject to such liens (including, but not limited to, liens incurred in connection with pollution control, industrial revenue
or similar financing); (f) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any lien referred to in the foregoing clauses (a) to (e), inclusive; (g) liens imposed by
law, such as mechanics’, workmen’s, repairmen’s, materialmen’s, carriers’, warehousemen’s, vendors’ or other similar liens arising in the ordinary course of business, or governmental (federal, state or municipal)
liens arising out of contracts for the sale of products or services by the Issuer or any Consolidated Subsidiary, or deposits or pledges to obtain the release of any of the foregoing liens; (h) pledges, liens or deposits under worker’s
compensation laws or similar legislation and liens or judgments thereunder which are not currently dischargeable, or in connection with bids, tenders, contracts (other than for the payment of money) or leases to which the Issuer or any Consolidated
Subsidiary is a party, or to secure public or statutory obligations of the Issuer or any Consolidated Subsidiary, or in connection with obtaining or maintaining self-insurance or to obtain the benefits of any law, regulation or arrangement
pertaining to unemployment insurance, old age pensions, social security or 

  
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similar matters, or to secure surety, appeal or customs bonds to which the Issuer or any Consolidated Subsidiary is a party, or in litigation or other proceedings such as, but not limited to,
interpleader proceedings, and other similar pledges, liens or deposits made or incurred in the ordinary course of business; (i) liens created by or resulting from any litigation or other proceeding which is being contested in good faith by
appropriate proceedings, including liens arising out of judgments or awards against the Issuer or any Consolidated Subsidiary with respect to which the Issuer or such Consolidated Subsidiary is in good faith prosecuting an appeal or proceedings for
review or for which the time to make an appeal has not yet expired; or final unappealable judgment liens which are satisfied within 15 days of the date of judgment; or liens incurred by the Issuer or any Consolidated Subsidiary for the purpose of
obtaining a stay or discharge in the course of any litigation or other proceeding to which the Issuer or such Consolidated Subsidiary is a party; (j) liens for taxes or assessments or governmental charges or levies not yet due or delinquent, or
which can thereafter be paid without penalty, or which are being contested in good faith by appropriate proceedings; landlord’s liens on property held under lease; and any other liens or charges incidental to the conduct of the business of the
Issuer or any Consolidated Subsidiary or the ownership of the assets of any of them which were not incurred in connection with the borrowing of money or the obtaining of advances or credit and which do not, in the opinion of the Issuer, materially
impair the use of such assets in the operation of the business of the Issuer or such Consolidated Subsidiary or the value of such assets for the purposes thereof; (k) liens relating to accounts receivable of the Issuer or any of its
Subsidiaries which have been sold, assigned or otherwise transferred to another Person in a transaction classified as a sale of accounts receivable in accordance with accounting principles generally accepted in the United States of America (to the
extent the sale by the Issuer or the applicable Subsidiary is deemed to give rise to a lien in favor of the purchaser thereof in such accounts receivable or the proceeds thereof); or (l) liens on any assets of the Issuer or any of its
Subsidiaries (including Receivables Subsidiaries) incurred in connection with a Qualified Receivables Transaction. Notwithstanding the above, the Issuer or any Consolidated Subsidiary may, without securing the 2018 Notes, create or assume any
Indebtedness which is secured by a lien which would otherwise be subject to the foregoing restrictions, provided that at the time of such creation or assumption, after giving effect thereto, Exempted Debt does not exceed 10% of the total assets of
the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with accounting principles generally accepted in the United States of America. 
 Limitation on Sale and Lease-Back Transactions. The Issuer covenants that, so long as any of the 2018 Notes remain outstanding, the Issuer will not, nor shall the Issuer permit any Consolidated
Subsidiary to, enter into any sale and lease-back transaction with respect to any assets, other than any sale and lease-back transaction involving a lease for a term of not more than three years, unless either (a) the Issuer or such
Consolidated Subsidiary would be entitled to incur Indebtedness secured by a lien on the assets to be leased in an amount at least equal to the Attributable Debt in respect of such transaction without equally and ratably securing the 2018 Notes
pursuant to clauses (a) through (k) inclusive of the covenant with respect to “Limitation on Liens” above, or (b) the proceeds of the sale of the assets to be leased are at least equal to their fair market value (as

  
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determined by the Board of Directors of the Issuer) and the proceeds are applied to the purchase or acquisition (or, in the case of real property, the construction) of assets or to the retirement
(other than at maturity or pursuant to a mandatory sinking fund or mandatory redemption provision) of indebtedness. The foregoing limitation shall not apply, if at the time the Issuer or any Consolidated Subsidiary enters into such sale and
lease-back transaction, and after giving effect thereto, Exempted Debt does not exceed 10% of the total assets of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with accounting principles generally accepted in the
United States of America. 
 The term “Attributable Debt” in connection with a sale and lease-back transaction shall
mean, as of the date of determination, the lesser of (a) the fair value of the assets subject to such transaction, as determined by the Board of Directors of the Issuer, or (b) the present value (discounted at the rate of interest set
forth in or implicit in the terms of such lease or, if it is not practicable to determine such rate, the weighted average interest rate per annum borne by all series of Securities then Outstanding and subject to the “Limitation on Sale and
Lease-Back Transactions” covenant above compounded semi-annually, in either case as determined by the principal accounting or financial officer of the Issuer) of the obligations of the Issuer or any Consolidated Subsidiary for net rental
payments during the remaining term of all leases (including any period for which such lease has been extended or may, at the option of the lessor, be extended). 
 The term “Consolidated Subsidiary” shall mean any Subsidiary substantially all the property of which is located, and substantially all the operations of which are conducted, in the United States
of America whose financial statements are consolidated with those of the Issuer in accordance with accounting principles generally accepted in the United States of America. 
 The term “Exempted Debt” shall mean the sum of the following as of the date of determination: (i) Indebtedness of the Issuer and its Consolidated Subsidiaries incurred after the date of
issuance of the Notes and secured by liens not permitted to be created or assumed pursuant to the covenant with respect to “Limitation on Liens” above, and (ii) Attributable Debt of the Issuer and its Consolidated Subsidiaries in
respect of every sale and lease-back transaction entered into after the date of issuance of the Notes, other than leases expressly permitted by the covenant with respect to “Limitation on Sale and Lease-Back Transactions” above.

 The term “Indebtedness” shall mean all items classified as indebtedness on the most recently available consolidated
balance sheet of the Issuer and its Consolidated Subsidiaries, in accordance with accounting principles generally accepted in the United States of America. 
 The term “net rental payments” under any lease of any period shall mean the sum of the rental and other payments required to be paid in such period by the lessee thereunder, not including,
however, any amounts required to be paid by such lessee (whether or not designated as rental or additional rental) on account of maintenance and repairs, reconstruction, insurance, taxes, assessments, water rates or similar charges required to be
paid by such lessee thereunder or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales, maintenance and repairs, reconstruction, insurance, taxes, assessments, water rates or similar charges. 

  
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 The term “Qualified Receivables Transaction” shall mean any transaction or series
of transactions entered into by the Issuer or any of its Subsidiaries pursuant to which the Issuer or any of its Subsidiaries sells, conveys or otherwise transfers to (i) a Receivables Subsidiary (in the case of a transfer by the Issuer or any
of its Subsidiaries) and (ii) any other Person (in the case of a transfer by a Receivables Subsidiary), or grants a security interest in, any accounts receivable (whether now existing or arising in the future) or inventory of the Issuer or any
of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable or inventory, proceeds
of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable or inventory.

 The term “Receivables Subsidiary” shall mean a Subsidiary of the Issuer which engages in no activities other than in
connection with the financing of accounts receivable or inventory (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Issuer or any Subsidiary of the Issuer (excluding
guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a Qualified Receivables
Transaction), (ii) is recourse or obligates the Issuer or any Subsidiary of the Issuer in any way other than pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a
Qualified Receivables Transaction or (iii) subjects any property or asset of the Issuer or any Subsidiary of the Issuer (other than accounts receivable or inventory and related assets as provided in the definition of “Qualified Receivables
Transaction”), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a
Qualified Receivables Transaction, (b) with which neither the Issuer nor any Subsidiary of Issuer has any material contract, agreement, arrangement or understanding other than on terms customary for securitization of receivables or inventory
and (c) with which neither the Issuer nor any Subsidiary of the Issuer has any obligations to maintain or preserve such Subsidiary’s financial condition or cause such Subsidiary to achieve certain levels of operating results. 

 

	 	20.	Conversion and Exchange. The 2018 Notes shall not be convertible into or exchangeable for any other security. 

 

	 	21.	Additional Issues. The Issuer may, without notice to or the consent of the holders of the 2018 Notes, create and issue additional notes with the same terms as
the 2018 Notes in all respects, except for the issue date, the public offering price and, under certain circumstances, the first interest payment date. Such additional notes shall be consolidated and form a single series with the 2018 Notes.

  
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	 	22.	Other Terms. The 2018 Notes shall have the other terms and shall be substantially in the form set forth in the form of the 2018 Notes attached hereto as Annex
A-1. In case of any conflict between this Annex A and the 2018 Notes, the form of the 2018 Notes shall control. 

Capitalized terms used but not otherwise defined in this Annex A shall have the respective meanings ascribed to such terms in the
Indenture. 

  
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 ANNEX A-1 
 [FORM OF 2018 NOTE] 
  

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED
IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS THIS NOTE 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 NOTE 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 HEREON IS MADE TO CEDE & CO., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. TRANSFERS OF THIS REGISTERED GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE,
BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 
  

			
	No. R – A1	  	CUSIP NO. 58155Q AF0

 ISIN NO. US58155QAF00 
 McKESSON CORPORATION 
 1.40% NOTES DUE MARCH 15, 2018 

McKesson Corporation, a Delaware corporation (the “Issuer,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of Five Hundred Million Dollars ($500,000,000) on March 15, 2018 and to pay interest on said principal sum
from March 8, 2013, or from the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in arrears on March 15 and September 15 (each such date, an “Interest Payment Date”) of
each year commencing on September 15, 2013, at the rate of 1.40% per annum until the principal hereof shall have become due and payable. 
 The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which the principal or
interest payable on this Note is not a Business Day, then payment of principal or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of such delay). The
interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to the person in whose name this Note is registered at the close
of business on the record date for such interest installment, which shall be the close of business on the immediately preceding March 1 and September 1 prior to such Interest Payment Date, as applicable. Any such interest installment not punctually
paid or duly provided for shall forthwith cease to be payable to the registered holders on such record date and may be paid to the person in whose name this Note is registered at the close of business on a subsequent record date (which shall be not
less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be given by mail by or on behalf of the Issuer to the registered holders of Notes not less than 15 days preceding such subsequent record
date, all as more fully provided in the Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the 

  
 A-1-1

 
Issuer maintained for that purpose in any coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private debts; provided,
however, that payment of interest may be made at the option of the Issuer by check mailed to the person entitled thereto at such address as shall appear in the registry books of the Issuer; provided, further, that for so long as this Note
is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this Note may be made by wire transfer to the account of the Depositary or its nominee. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee (as defined below) under the Indenture
(as defined below), by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings assigned to them in the
Indenture. 
 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all
purposes have the same effect as though fully set forth at this place. 

  
 A-1-2

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or
in facsimile. 
  
  

			
	McKESSON CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities 
 referred to in the within-mentioned 

Indenture. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

          as Trustee

		
	 By:
	 	  

		 	Authorized Signatory
		
	Dated:	 	  

  
 A-1-3

 [FORM OF REVERSE SIDE OF NOTE] 

This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 1.40% Notes due
March 15, 2018 (the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of December 4, 2012 (the “Indenture”), duly executed and delivered between the Issuer and Wells
Fargo Bank, National Association as trustee with respect to the Notes (the “Trustee”), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the
Issuer, the Trustee and the holders of the Securities and the terms upon which the Notes are to be authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue
dates, maturity, redemption, repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered
Securities in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of
Notes as requested by the holder surrendering the same. 
 Except as set forth below, this Note is not redeemable and is not
entitled to the benefit of a sinking fund or any analogous provision. 
 The Notes may be redeemed, in whole, at any time, or in
part, from time to time, at the option of the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of their principal amount and (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present
values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points, plus, in each case, accrued interest thereon to the date of redemption; provided that the principal amount of any Note remaining outstanding after a redemption in
part shall be $2,000 or a higher integral multiple of $1,000. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the
interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the Notes will receive written notice thereof at least 30 and not more than 60 days prior to the date fixed for redemption. Unless
the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less than all of the Notes are to be redeemed, the Notes to be
redeemed will be selected by the Trustee by lot or another method the Trustee deems to be fair and appropriate. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the Notes 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. 
 “Comparable Treasury Price” means, with respect to any redemption date, (i) the average of four
Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee is provided fewer than four such Reference Treasury Dealer Quotations,
the average of all such quotations. 

  
 A-1-4

 “Quotation Agent” means the Reference Treasury Dealer appointed by the Issuer.

 “Reference Treasury Dealer” means (i) Merrill, Lynch, Pierce, Fenner & Smith Incorporated and J.P.
Morgan Securities LLC and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall
substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Trustee and confirmed by the Issuer in an officer’s certificate, of the bid and asked prices for the 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., New York City time, on the third business day preceding such redemption date. 
 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price on such redemption date. 
 If a Change of Control Triggering Event (as defined below) occurs, unless the Issuer has previously exercised its right to redeem the Notes in whole as described above, holders of the Notes will have the
right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount) of their Notes pursuant to the offer described below (the “Change of Control Offer”); provided that the principal amount
of any Note remaining outstanding after a repurchase in part shall be $2,000 or a higher integral multiple of $1,000. In the Change of Control Offer, the Issuer will be required to offer payment in cash equal to 101% of the then outstanding
aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased, to, but not including, the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of
Control Triggering Event, the Issuer will be required to mail a notice to holders of the Notes describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date
specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The
Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result
of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under the Change of Control provisions herein by virtue of such conflicts. 
 The paying agent will promptly mail (or, in the case of notes held in book-entry form, transmit electronically) to each holder of the Notes properly tendered the repurchase price for such Notes, and the
Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each holder a new Note equal in principal amount to any unrepurchased portion of any Notes surrendered; provided, that each new Note will be in a principal
amount of $2,000 or an integral multiple of $1,000 thereafter. 

  
 A-1-5

 Notwithstanding the foregoing, the Issuer will 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 a Change of Control Offer made by the Issuer and the third party
repurchases all Notes properly tendered and not withdrawn under its offer. In addition, the Issuer will not repurchase any Notes 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. 
 On the Change
of Control Payment Date, the Issuer will be required, to the extent lawful, to (i) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying agent no later
than 11:00 a.m. New York City time an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together
with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased. 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the Rating Agencies
(as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which 60-day period
shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies). 
 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation),
in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other than the Issuer or one of its Subsidiaries; (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, directly or indirectly, of more than 50% of the then outstanding number of shares of the Issuer’s
voting stock; or (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction will not be deemed to result in a Change of Control if
(i) the Issuer becomes a wholly owned subsidiary of a holding company and (ii) the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the Issuer’s
voting stock immediately prior to that transaction. 
 “Change of Control Triggering Event” means the occurrence of
both a Change of Control and a Below Investment Grade Rating Event. 
 “Continuing Directors” means, as of any date of
determination, any member of the Board of Directors of the Issuer who (1) was a member of such Board of Directors on the date of original issue of this Security; or (2) was nominated for election or elected 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 or election (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was
named as a nominee for election as a director, without objection to such nomination). 
 “Fitch” means Fitch Inc., a
subsidiary of Fimalac, S.A. 

  
 A-1-6

 “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. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Person” has the meaning set forth in the Indenture and includes a “person” as used in Section 13(d)(3) of the
Exchange Act. 
 “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 or fails to make a rating of the notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the
meaning of Section 3(a)(62) under the Exchange Act, selected by the Issuer as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 
 If an Event of Default with respect to the Notes shall occur and be continuing, the principal of all the Notes may be declared due and payable in the manner and with the effect provided in the Indenture.

 The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the holders of not less than a
majority in aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and affected (each voting as one class), to add any provisions to, or change
in any manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the holders of the Securities or Coupons so affected; provided that the Issuer and the Trustee, may not, without the consent
of the holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount thereof or premium thereon, if any, or reduce the rate or extend the time of payment of
interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other than as otherwise may be provided with respect to such series), premium, if any, or interest thereon is payable or
reduce the amount of the principal of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy, or in the case of Subordinated Securities of any series, modify any of the subordination provisions or the
definition of “Senior Indebtedness” relating to such series in a manner adverse to the holders of such Subordinated Securities, or alter certain provisions of the Indenture relating to Securities not denominated in Dollars or the Judgment
Currency of such Securities or impair or affect the right of any Securityholder to institute suit for the enforcement of any payment thereof when due or, if the Securities provide therefor, any right of repayment at the option of the Securityholder
or (ii) reduce the aforesaid percentage in principal amount of Securities of any series issued under the Indenture, the consent of the holders of which is required for any such modification. It is also provided in the Indenture that, with
respect to certain defaults or Events of Default regarding the Securities of any series, the holders of a majority in aggregate principal amount Outstanding of the Securities of each such series, each such series voting as a separate class (or, of
all Securities, as the case may be voting as a single class) may under certain circumstances waive all defaults with respect to each such series (or with respect to all the Securities, as the case may be) and rescind and annul a declaration of
default and its consequences, but no such waiver or rescission and annulment shall extend to or affect any subsequent default or shall impair any right consequent thereto. 

  
 A-1-7

 The preceding sentence shall not, however, apply to a default in the payment of the principal of or interest
on any of the Securities. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter
or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the
registry books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer maintained by the Issuer for such purpose in Minneapolis, Minnesota, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the holder hereof or by its 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. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer 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 Issuer, 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, INCLUDING, WITHOUT LIMITATION, SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
 A-1-8

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 

GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 
 Schedule A 
 Changes to Principal Amount of Registered Global Securities 

 

							
	 Date
	  	 Principal Amount
 of Notes
 by which this Registered Global
Security is to be

Reduced or Increased,
 and Reason for
 Reduction or
Increase
	  	 Remaining Principal
 Amount of this Registered
 Global
Security
	  	 Notation Made By

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

  
 A-1-9

 ANNEX B 
 Pursuant to Section 2.3 of the Indenture, dated as of December 4, 2012 (the “Indenture”), between McKesson Corporation, a Delaware corporation (the “Issuer”), and Wells Fargo
Bank, National Association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 
  

	 	1.	Designation. The designation of the securities is “2.85% Notes due 2023” (the “2023 Notes”). 

 

	 	2.	Initial Aggregate Principal Amount. The 2023 Notes shall be limited in initial aggregate principal amount to $400,000,000 (except for 2023 Notes authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other 2023 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture). 

 

	 	3.	Currency Denomination. The 2023 Notes shall be denominated in Dollars. 

 

	 	4.	Maturity. The date on which the principal of the 2023 Notes is payable is March 15, 2023. 

 

	 	5.	Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2023 Note shall bear interest from March 8, 2013 at 2.85% per annum until the
principal thereof is paid. Such interest shall be payable semi-annually in arrears on March 15 and September 15 of each year, commencing on September 15, to the persons in whose names the 2023 Notes are registered at the close of
business on the immediately preceding March 1 and September 1, respectively. Interest on the 2023 Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from March 8, 2013.
Interest on the 2023 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which principal, premium, if any, or interest is payable on the 2023 Notes is not a Business Day, then
payment of the principal, premium, if any, or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay). 

 

	 	6.	Place of Payment. Principal of, premium, if any, and interest on the 2023 Notes shall be payable, and the transfer of the 2023 Notes shall be registrable, at the
office or agency of the Issuer to be maintained for such purpose in Minneapolis, Minnesota, except that, at the option of the Issuer, interest may be paid by mailing a check to the address of the person entitled thereto as it appears on the 2023
Notes register; provided, however, that while any 2023 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2023 Notes may be made by wire transfer to the account of the
Depositary or its nominee. 

  

	 	7.	 Optional Redemption. The 2023 Notes may be redeemed, in whole, at any time, or in part, from time to time, at the option of the Issuer, for
cash, at a redemption price equal to the greater of (i) 100% of their principal amount and, unless the 2023 Notes are redeemed on or after December 15, 2022, (ii) an amount, as determined by the Quotation Agent, equal to the sum of
the present values of the 

  
 B-1

	 	
remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on
a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, plus, in each case, accrued and unpaid interest thereon to, but not including, the date of redemption; provided that the
principal amount of any 2023 Note remaining outstanding after a redemption in part shall be $2,000 or a higher integral multiple of $1,000. Notwithstanding the foregoing, installments of interest on 2023 Notes that are due and payable on interest
payment dates falling on or prior to a redemption date will be payable on the interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the 2023 Notes to be redeemed will receive notice
thereof at least 30 and not more than 60 days prior to the date fixed for redemption. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the 2023 Notes or portions
thereof called for redemption. If less than all of the 2023 Notes are to be redeemed, the 2023 Notes to be redeemed will be selected by the Trustee by lot or another method the Trustee deems to be fair and appropriate. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the 2023 Notes 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 2023 Notes. 
 “Comparable Treasury Price” means, with respect to any redemption date, (i) the average of
four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee is provided fewer than four such Reference Treasury Dealer
Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by
the Issuer. 
 “Reference Treasury Dealer” means (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated
and J.P. Morgan Securities LLC and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer
shall substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee and confirmed by the Issuer in an
officer’s certificate, of the bid and asked prices for the 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., New York City
time, on the third business day preceding such redemption date. 
 “Treasury Rate” means, with respect to any
redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a 

percentage of its principal amount) equal to the Comparable Treasury Price on such redemption date. 

  
 B-2

	 	8.	Change of Control. If a Change of Control Triggering Event (as defined below) occurs, unless the Issuer has previously exercised its right to redeem the 2023
Notes in whole as described above, holders of the 2023 Notes will have the right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount) of their 2023 Notes pursuant to the offer described
below (the “Change of Control Offer”); provided that the principal amount of any 2023 Note remaining outstanding after a repurchase in part shall be $2,000 or a higher integral multiple of $1,000. In the Change of Control Offer, the Issuer
will be required to offer payment in cash equal to 101% of the then outstanding aggregate principal amount of 2023 Notes repurchased plus accrued and unpaid interest, if any, on the 2023 Notes repurchased, to, but not including, the date of
repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Issuer will be required to mail a notice to holders of the 2023 Notes describing the transaction or transactions that
constitute the Change of Control Triggering Event and offering to repurchase the 2023 Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the
“Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the 2023 Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with
the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions herein by virtue of
such conflicts. 

 The paying agent will promptly mail (or, in the case of notes held in book-entry form, transmit
electronically) to each holder of the 2023 Notes properly tendered the repurchase price for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each holder a new 2023 Note equal in principal
amount to any unrepurchased portion of any 2023 Notes surrendered; provided, that each new 2023 Note will be in a principal amount of $2,000 or an integral multiple of $1,000 thereafter. 

Notwithstanding the foregoing, the Issuer will 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 a Change of Control Offer made by the Issuer and the third party repurchases all 2023 Notes properly
tendered and not withdrawn under its offer. In addition, the Issuer will not repurchase any 2023 Notes 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. 
 On the Change of Control Payment Date, the
Issuer will be required, to the extent lawful, to (i) accept for payment all 2023 Notes or portions thereof properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying

  
 B-3

 
agent an amount equal to the Change of Control Payment in respect of all 2023 Notes or portions thereof properly tendered; and (iii) deliver or cause to be delivered to the Trustee the 2023
Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of 2023 Notes or portions of 2023 Notes being repurchased. 
 “Below Investment Grade Rating Event” means the 2023 Notes are rated below an Investment Grade Rating by each of the Rating Agencies (as defined below) on any date from the date of the public
notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the 2023 Notes is
under publicly announced consideration for possible downgrade by any of the Rating Agencies). 
 “Change of Control”
means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of
the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other than the Issuer or one of its Subsidiaries; (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, directly or indirectly, of more than 50% of the then outstanding number of shares of the Issuer’s voting stock; or (3) the first day on which a majority of the members of
the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction will not be deemed to result in a Change of Control if (i) the Issuer becomes a wholly owned subsidiary of a holding company and
(ii) the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Issuer
who (1) was a member of such Board of Directors on the date of original issue of the 2023 Notes; or (2) was nominated for election or elected 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 or election (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee for election as a director, without objection to
such nomination). 
 “Fitch” means Fitch Inc., a subsidiary of Fimalac, S.A. 

“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. 
 “Moody’s” means Moody’s Investors Service, Inc.

 “Person” has the meaning set forth in the Indenture and includes a “person” as used in
Section 13(d)(3) of the Exchange Act. 

  
 B-4

 “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 2023 Notes or fails to make a rating of the 2023 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating
organization” within the meaning of Section 3 (a)(62) under the Exchange Act, selected by the Issuer as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 

 

	 	9.	Mandatory Redemption. The 2023 Notes are not mandatorily redeemable and are not entitled to the benefit of a sinking fund or any analogous provisions.

  

	 	10.	Denominations. The 2023 Notes shall be issued initially in minimum denominations of $2,000 and shall be issued in integral multiples of $1,000 in excess thereof.

  

	 	11.	Amount Payable Upon Acceleration. The principal of the 2023 Notes shall be payable upon declaration of acceleration pursuant to Section 5.1 of the
Indenture. 

  

	 	12.	Payment Currency. Principal and interest on the 2023 Notes shall be payable in Dollars. 

 

	 	13.	Payment Currency - Election. The principal of and interest on the 2023 Notes shall not be payable in a currency other than Dollars. 

 

	 	14.	Payment Currency - Index. The principal of and interest on the 2023 Notes shall not be determined with reference to an index based on a coin or currency.

  

	 	15.	Registered Securities. The 2023 Notes shall be issued only as Registered Securities. The 2023 Notes shall be issuable as Registered Global Securities.

  

	 	16.	Additional Amounts. The Issuer shall not pay additional amounts on the 2023 Notes held by a Person that is not a U.S. Person in respect of taxes or similar
charges withheld or deducted. 

  

	 	17.	Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2023 Notes in definitive form. 

 

	 	18.	Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying agent for the 2023 Notes. The Depository Trust Company
shall initially serve as the Depositary for the Registered Global Security representing the 2023 Notes. 

  

	 	19.	 Events of Default; Covenants. There shall be no deletions from or modifications or additions to the Events of Default set forth in
Section 5.1 of the Indenture with respect to the 2023 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the Indenture with respect to the 2023 Notes:

  
 B-5

 Limitation on Liens. The Issuer covenants that, so long as any of the 2023 Notes
remain outstanding, it shall not, nor shall it permit any Consolidated Subsidiary to, create or assume any Indebtedness for money borrowed which is secured by a mortgage, pledge, security interest or lien (“liens”) of or upon any assets,
whether now owned or hereafter acquired, of the Issuer or any such Consolidated Subsidiary without equally and ratably securing the 2023 Notes by a lien ranking equally to and ratably with (or at the option of the Issuer, senior to) such secured
Indebtedness, except that the foregoing restriction shall not apply to (a) liens on any assets of any corporation existing at the time such corporation becomes a Consolidated Subsidiary; (b) liens on any assets existing at the time of
acquisition of such assets by the Issuer or a Consolidated Subsidiary, or liens to secure the payment of all or any part of the purchase price of such assets upon the acquisition of such assets by the Issuer or a Consolidated Subsidiary or to secure
any indebtedness incurred or guaranteed by the Issuer or a Consolidated Subsidiary prior to, at the time of, or within 360 days after such acquisition (or in the case of real property, the completion of construction (including any improvements on an
existing asset) or commencement of full operation of such asset, whichever is later), which indebtedness is incurred or guaranteed for the purpose of financing all or any part of the purchase price thereof or, in the case of real property,
construction or improvements thereon; (c) liens on any assets securing indebtedness owed by any Consolidated Subsidiary to the Issuer or another wholly owned Subsidiary; (d) liens on any assets of a corporation existing at the time such
corporation is merged into or consolidated with the Issuer or a Subsidiary or at the time of a purchase, lease or other acquisition of the assets of a corporation or firm as an entirety or substantially as an entirety by the Issuer or a Subsidiary;
(e) liens on any assets of the Issuer or a Consolidated Subsidiary in favor of the United States of America or any state thereof, or any department, agency or instrumentality or political subdivision of the United States of America or any State
thereof, or in favor of any other country, or any political subdivision thereof, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred or guaranteed for the purpose of
financing all or any part of the purchase price (or, in the case of real property, the cost of construction) of the assets subject to such liens (including, but not limited to, liens incurred in connection with pollution control, industrial revenue
or similar financing); (f) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any lien referred to in the foregoing clauses (a) to (e), inclusive; (g) liens imposed by
law, such as mechanics’, workmen’s, repairmen’s, materialmen’s, carriers’, warehousemen’s, vendors’ or other similar liens arising in the ordinary course of business, or governmental (federal, state or municipal)
liens arising out of contracts for the sale of products or services by the Issuer or any Consolidated Subsidiary, or deposits or pledges to obtain the release of any of the foregoing liens; (h) pledges, liens or deposits under worker’s
compensation laws or similar legislation and liens or judgments thereunder which are not currently dischargeable, or in connection with bids, tenders, contracts (other than for the payment of money) or leases to which the Issuer or any Consolidated
Subsidiary is a party, or to secure public or statutory obligations of the Issuer or any Consolidated Subsidiary, or in connection with obtaining or maintaining self-insurance or to obtain the benefits of any law, regulation or arrangement
pertaining to unemployment insurance, old age pensions, social security or similar matters, or to secure surety, appeal or customs bonds to which the Issuer 

  
 B-6

 
or any Consolidated Subsidiary is a party, or in litigation or other proceedings such as, but not limited to, interpleader proceedings, and other similar pledges, liens or deposits made or
incurred in the ordinary course of business; (i) liens created by or resulting from any litigation or other proceeding which is being contested in good faith by appropriate proceedings, including liens arising out of judgments or awards against
the Issuer or any Consolidated Subsidiary with respect to which the Issuer or such Consolidated Subsidiary is in good faith prosecuting an appeal or proceedings for review or for which the time to make an appeal has not yet expired; or final
unappealable judgment liens which are satisfied within 15 days of the date of judgment; or liens incurred by the Issuer or any Consolidated Subsidiary for the purpose of obtaining a stay or discharge in the course of any litigation or other
proceeding to which the Issuer or such Consolidated Subsidiary is a party; (j) liens for taxes or assessments or governmental charges or levies not yet due or delinquent, or which can thereafter be paid without penalty, or which are being
contested in good faith by appropriate proceedings; landlord’s liens on property held under lease; and any other liens or charges incidental to the conduct of the business of the Issuer or any Consolidated Subsidiary or the ownership of the
assets of any of them which were not incurred in connection with the borrowing of money or the obtaining of advances or credit and which do not, in the opinion of the Issuer, materially impair the use of such assets in the operation of the business
of the Issuer or such Consolidated Subsidiary or the value of such assets for the purposes thereof; (k) liens relating to accounts receivable of the Issuer or any of its Subsidiaries which have been sold, assigned or otherwise transferred to
another Person in a transaction classified as a sale of accounts receivable in accordance with accounting principles generally accepted in the United States of America (to the extent the sale by the Issuer or the applicable Subsidiary is deemed to
give rise to a lien in favor of the purchaser thereof in such accounts receivable or the proceeds thereof); or (l) liens on any assets of the Issuer or any of its Subsidiaries (including Receivables Subsidiaries) incurred in connection with a
Qualified Receivables Transaction. Notwithstanding the above, the Issuer or any Consolidated Subsidiary may, without securing the 2023 Notes, create or assume any Indebtedness which is secured by a lien which would otherwise be subject to the
foregoing restrictions, provided that at the time of such creation or assumption, after giving effect thereto, Exempted Debt does not exceed 10% of the total assets of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance
with accounting principles generally accepted in the United States of America. 
 Limitation on Sale and Lease-Back
Transactions. The Issuer covenants that, so long as any of the 2023 Notes remain outstanding, the Issuer will not, nor shall the Issuer permit any Consolidated Subsidiary to, enter into any sale and lease-back transaction with respect to any
assets, other than any sale and lease-back transaction involving a lease for a term of not more than three years, unless either (a) the Issuer or such Consolidated Subsidiary would be entitled to incur Indebtedness secured by a lien on the
assets to be leased in an amount at least equal to the Attributable Debt in respect of such transaction without equally and ratably securing the 2023 Notes pursuant to clauses (a) through (k) inclusive of the covenant with respect to
“Limitation on Liens” above, or (b) the proceeds of the sale of the assets to be leased are at least equal to their fair market value (as determined by the Board of Directors of the Issuer) and the proceeds are applied

  
 B-7

 
to the purchase or acquisition (or, in the case of real property, the construction) of assets or to the retirement (other than at maturity or pursuant to a mandatory sinking fund or mandatory
redemption provision) of indebtedness. The foregoing limitation shall not apply, if at the time the Issuer or any Consolidated Subsidiary enters into such sale and lease-back transaction, and after giving effect thereto, Exempted Debt does not
exceed 10% of the total assets of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with accounting principles generally accepted in the United States of America. 

The term “Attributable Debt” in connection with a sale and lease-back transaction shall mean, as of the date of determination,
the lesser of (a) the fair value of the assets subject to such transaction, as determined by the Board of Directors of the Issuer, or (b) the present value (discounted at the rate of interest set forth in or implicit in the terms of such
lease or, if it is not practicable to determine such rate, the weighted average interest rate per annum borne by all series of Securities then Outstanding and subject to the “Limitation on Sale and Lease-Back Transactions” covenant above
compounded semi-annually, in either case as determined by the principal accounting or financial officer of the Issuer) of the obligations of the Issuer or any Consolidated Subsidiary for net rental payments during the remaining term of all leases
(including any period for which such lease has been extended or may, at the option of the lessor, be extended). 
 The term
“Consolidated Subsidiary” shall mean any Subsidiary substantially all the property of which is located, and substantially all the operations of which are conducted, in the United States of America whose financial statements are
consolidated with those of the Issuer in accordance with accounting principles generally accepted in the United States of America. 
 The term “Exempted Debt” shall mean the sum of the following as of the date of determination: (i) Indebtedness of the Issuer and its Consolidated Subsidiaries incurred after the date of
issuance of the Notes and secured by liens not permitted to be created or assumed pursuant to the covenant with respect to “Limitation on Liens” above, and (ii) Attributable Debt of the Issuer and its Consolidated Subsidiaries in
respect of every sale and lease-back transaction entered into after the date of issuance of the Notes, other than leases expressly permitted by the covenant with respect to “Limitation on Sale and Lease-Back Transactions” above.

 The term “Indebtedness” shall mean all items classified as indebtedness on the most recently available consolidated
balance sheet of the Issuer and its Consolidated Subsidiaries, in accordance with accounting principles generally accepted in the United States of America. 
 The term “net rental payments” under any lease of any period shall mean the sum of the rental and other payments required to be paid in such period by the lessee thereunder, not including,
however, any amounts required to be paid by such lessee (whether or not designated as rental or additional rental) on account of maintenance and repairs, reconstruction, insurance, taxes, assessments, water rates or similar charges required to be
paid by such lessee thereunder or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales, maintenance and repairs, reconstruction, insurance, taxes, assessments, water rates or similar charges. 

  
 B-8

 The term “Qualified Receivables Transaction” shall mean any transaction or series
of transactions entered into by the Issuer or any of its Subsidiaries pursuant to which the Issuer or any of its Subsidiaries sells, conveys or otherwise transfers to (i) a Receivables Subsidiary (in the case of a transfer by the Issuer or any
of its Subsidiaries) and (ii) any other Person (in the case of a transfer by a Receivables Subsidiary), or grants a security interest in, any accounts receivable (whether now existing or arising in the future) or inventory of the Issuer or any
of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable or inventory, proceeds
of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable or inventory.

 The term “Receivables Subsidiary” shall mean a Subsidiary of the Issuer which engages in no activities other than in
connection with the financing of accounts receivable or inventory (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Issuer or any Subsidiary of the Issuer (excluding
guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a Qualified Receivables
Transaction), (ii) is recourse or obligates the Issuer or any Subsidiary of the Issuer in any way other than pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a
Qualified Receivables Transaction or (iii) subjects any property or asset of the Issuer or any Subsidiary of the Issuer (other than accounts receivable or inventory and related assets as provided in the definition of “Qualified Receivables
Transaction”), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to representations, warranties, covenants and indemnities entered into in the ordinary course of business in connection with a
Qualified Receivables Transaction, (b) with which neither the Issuer nor any Subsidiary of Issuer has any material contract, agreement, arrangement or understanding other than on terms customary for securitization of receivables or inventory
and (c) with which neither the Issuer nor any Subsidiary of the Issuer has any obligations to maintain or preserve such Subsidiary’s financial condition or cause such Subsidiary to achieve certain levels of operating results. 

 

	 	20.	Conversion and Exchange. The 2023 Notes shall not be convertible into or exchangeable for any other security. 

 

	 	21.	Additional Issues. The Issuer may, without notice to or the consent of the holders of the 2023 Notes, create and issue additional notes with the same terms as
the 2023 Notes in all respects, except for the issue date, the public offering price and, under certain circumstances, the first interest payment date. Such additional notes shall be consolidated and form a single series with the 2023 Notes.

  
 B-9

	 	22.	Other Terms. The 2032 Notes shall have the other terms and shall be substantially in the form set forth in the form of the 2023 Notes attached hereto as Annex
B-1. In case of any conflict between this Annex B and the 2023 Notes, the form of the 2023 Notes shall control. 

Capitalized terms used but not otherwise defined in this Annex B shall have the respective meanings ascribed to such terms in the
Indenture. 

  
 B-10

 ANNEX B-1 
 [FORM OF 2023 NOTE] 
  

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED
IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS THIS NOTE 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 NOTE 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 HEREON IS MADE TO CEDE & CO., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. TRANSFERS OF THIS REGISTERED GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE,
BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 
  

			
	No. R – A1	  	CUSIP NO. 58155Q AG8

 ISIN NO. US58155QAG82 
 McKESSON CORPORATION 
 2.85% NOTES DUE MARCH 15, 2023 

McKesson Corporation, a Delaware corporation (the “Issuer,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of Four Hundred Million Dollars ($400,000,000) on March 15, 2023 and to pay interest on said principal sum
from March 8, 2013, or from the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in arrears on March 15 and September 15 (each such date, an “Interest Payment Date”) of
each year commencing on September 15, 2013 at the rate of 2.85% per annum until the principal hereof shall have become due and payable. 
 The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which the principal or
interest payable on this Note is not a Business Day, then payment of principal or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of such delay). The
interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to the person in whose name this Note is registered at the close
of business on the record date for such interest installment, which shall be the close of business on the immediately preceding March 1 and September 1 prior to such Interest Payment Date, as applicable. Any such interest installment not
punctually paid or duly provided for shall forthwith cease to be payable to the registered holders on such record date and may be paid to the person in whose name this Note is registered at the close of business on a subsequent record date (which
shall be not less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be given by mail by or on behalf of the Issuer to the registered holders of Notes not less than 15 days preceding such
subsequent record date, all as more fully provided in the Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the 

  
 B-1-1

 
Issuer maintained for that purpose in any coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private debts; provided,
however, that payment of interest may be made at the option of the Issuer by check mailed to the person entitled thereto at such address as shall appear in the registry books of the Issuer; provided, further, that for so long as this Note
is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this Note may be made by wire transfer to the account of the Depositary or its nominee. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee (as defined below) under the Indenture
(as defined below), by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings assigned to them in the
Indenture. 
 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all
purposes have the same effect as though fully set forth at this place. 

  
 B-1-2

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or
in facsimile. 
  

			
	McKESSON CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities 
 referred to in the within-mentioned 

Indenture. 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		 	as Trustee
		
	By:	 	  

		 	Authorized Signatory
		
	Dated:	 	  

  
 B-1-3

 [FORM OF REVERSE SIDE OF NOTE] 

This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 2.85% Notes due
March 15, 2023 (the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of December 4, 2012 (the “Indenture”), duly executed and delivered between the Issuer and Wells
Fargo Bank, National Association as trustee with respect to the Notes (the “Trustee”), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the
Issuer, the Trustee and the holders of the Securities and the terms upon which the Notes are to be authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue
dates, maturity, redemption, repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered
Securities in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of
Notes as requested by the holder surrendering the same. 
 Except as set forth below, this Note is not redeemable and is not
entitled to the benefit of a sinking fund or any analogous provision. 
 The Notes may be redeemed, in whole, at any time, or in
part, from time to time, at the option of the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of their principal amount and, unless the Notes are redeemed on or after December 15, 2022, (ii) an amount, as
determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued to the date of redemption), discounted to
the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, plus, in each case, accrued interest thereon to the date of redemption; provided that the principal
amount of any Note remaining outstanding after a redemption in part shall be $2,000 or a higher integral multiple of $1,000. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates
falling on or prior to a redemption date will be payable on the interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the Notes will receive written notice thereof at least 30 and not
more than 60 days prior to the date fixed for redemption. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less
than all of the Notes are to be redeemed, the Notes to be redeemed will be selected by the Trustee by lot or another method the Trustee deems to be fair and appropriate. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Notes 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. 

“Comparable Treasury Price” means, with respect to any redemption date, (i) the average of four Reference Treasury
Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee is provided fewer than four such Reference Treasury Dealer Quotations, the average of all
such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by the Issuer. 

  
 B-1-4

 “Reference Treasury Dealer” means (i) Merrill, Lynch, Pierce,
Fenner & Smith Incorporated and J.P. Morgan Securities LLC and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary
Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee and confirmed by the Issuer in an
officer’s certificate, of the bid and asked prices for the 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., New York City
time, on the third business day preceding such redemption date. 
 “Treasury Rate” means, with respect to any
redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price on such redemption date. 
 If a Change of Control Triggering Event (as defined below) occurs, unless
the Issuer has previously exercised its right to redeem the Notes in whole as described above, holders of the Notes will have the right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount)
of their Notes pursuant to the offer described below (the “Change of Control Offer”); provided that the principal amount of any Note remaining outstanding after a repurchase in part shall be $2,000 or a higher integral multiple of $1,000.
In the Change of Control Offer, the Issuer will be required to offer payment in cash equal to 101% of the then outstanding aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased, to, but
not including, the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Issuer will be required to mail a notice to holders of the Notes describing the transaction or
transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed
(the “Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict
with the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions herein by virtue
of such conflicts. 
 The paying agent will promptly mail (or, in the case of notes held in book-entry form, transmit
electronically) to each holder of the Notes properly tendered the repurchase price for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each holder a new Note equal in principal amount to
any unrepurchased portion of any Notes surrendered; provided, that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 thereafter. 
 Notwithstanding the foregoing, the Issuer will 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 a Change of Control Offer made by the Issuer and the third party repurchases all Notes properly tendered and not withdrawn under its offer. In addition, the Issuer will not
repurchase any Notes 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. 

  
 B-1-5

 On the Change of Control Payment Date, the Issuer will be required, to the extent lawful, to
(i) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying agent no later than 11:00 a.m. New York City time an amount equal to the Change of Control
Payment in respect of all Notes or portions of Notes properly tendered; and (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of
Notes or portions of Notes being repurchased. 
 “Below Investment Grade Rating Event” means the Notes are rated below
an Investment Grade Rating by each of the Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the
occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies). 

“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other than the
Issuer or one of its Subsidiaries; (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, directly or indirectly, of more than
50% of the then outstanding number of shares of the Issuer’s voting stock; or (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a
transaction will not be deemed to result in a Change of Control if (i) the Issuer becomes a wholly owned subsidiary of a holding company and (ii) the holders of the voting stock of such holding company immediately following that
transaction are substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating
Event. 
 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the
Issuer who (1) was a member of such Board of Directors on the date of original issue of this Security; or (2) was nominated for election or elected 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 or election (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee for election as a director, without
objection to such nomination). 
 “Fitch” means Fitch Inc., a subsidiary of Fimalac, S.A. 

“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. 
 “Moody’s” means Moody’s Investors Service, Inc.

 “Person” has the meaning set forth in the Indenture and includes a “person” as used in
Section 13(d)(3) of the Exchange Act. 

  
 B-1-6

 “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 or fails to make a rating of the notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Issuer as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of all the Notes may be declared due and
payable in the manner and with the effect provided in the Indenture. 
 The Indenture contains provisions permitting the Issuer
and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and
affected (each voting as one class), to add any provisions to, or change in any manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the holders of the Securities or Coupons so affected;
provided that the Issuer and the Trustee, may not, without the consent of the holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount
thereof or premium thereon, if any, or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other than as otherwise may be
provided with respect to such series), premium, if any, or interest thereon is payable or reduce the amount of the principal of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy, or in the case of
Subordinated Securities of any series, modify any of the subordination provisions or the definition of “Senior Indebtedness” relating to such series in a manner adverse to the holders of such Subordinated Securities, or alter certain
provisions of the Indenture relating to Securities not denominated in Dollars or the Judgment Currency of such Securities or impair or affect the right of any Securityholder to institute suit for the enforcement of any payment thereof when due or,
if the Securities provide therefor, any right of repayment at the option of the Securityholder or (ii) reduce the aforesaid percentage in principal amount of Securities of any series issued under the Indenture, the consent of the holders of
which is required for any such modification. It is also provided in the Indenture that, with respect to certain defaults or Events of Default regarding the Securities of any series, the holders of a majority in aggregate principal amount Outstanding
of the Securities of each such series, each such series voting as a separate class (or, of all Securities, as the case may be voting as a single class) may under certain circumstances waive all defaults with respect to each such series (or with
respect to all the Securities, as the case may be) and rescind and annul a declaration of default and its consequences, but no such waiver or rescission and annulment shall extend to or affect any subsequent default or shall impair any right
consequent thereto. The preceding sentence shall not, however, apply to a default in the payment of the principal of or interest on any of the Securities. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and
interest on this Note at the time, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the registry books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer
maintained by the Issuer for such purpose in Minneapolis, Minnesota, duly endorsed by, or accompanied by a written instrument of transfer in form 

  
 B-1-7

 
satisfactory to the Issuer and the Trustee duly executed by, the holder hereof or by its 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. 
 No service charge shall
be made for any such registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer 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 Issuer, 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, INCLUDING, WITHOUT LIMITATION, SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
 B-1-8

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 

GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 
 Schedule A 
 Changes to Principal Amount of Registered Global Securities 

 

							
	 Date
	  	 Principal Amount
 of Notes
 by which this Registered Global
Security is to be

Reduced or Increased,
 and Reason for
 Reduction or
Increase
	  	 Remaining Principal
 Amount of this Registered
 Global
Security
	  	 Notation Made By

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  

  
 B-1-9EX-4.2

 Exhibit 4.2 
 EXECUTION VERSION 
 FIRST AMENDMENT TO RIGHTS AGREEMENT 

This First Amendment to Rights Agreement, dated as of March 5, 2013 (this “Amendment”), is between Capital Senior
Living Corporation, a Delaware corporation (the “Company”), and Computershare Shareowner Services LLC, f/k/a Mellon Investor Services LLC, a New Jersey limited liability company (the “Rights Agent”). 

WITNESSETH: 
 WHEREAS, the Board of Directors of the Company (the “Board”) previously adopted a Rights Agreement, dated as of February 25, 2010 (the “Rights Agreement”),
between the Company and the Rights Agent; 
 WHEREAS, on February 24, 2010, the Board declared a dividend
distribution of one preferred share purchase right (a “Right”) for each outstanding share of the Company’s common stock, par value $0.01 per share (the “Common Stock”), outstanding as of the close of business
on March 8, 2010 (the “Record Date”), and authorized the issuance of one Right for each share of Common Stock that becomes outstanding between the Record Date and the earliest of the Distribution Date, the Redemption Date and
the Final Expiration Date (each of such terms as defined in the Rights Agreement) and under certain other circumstances; 

WHEREAS, the Company’s stockholders approved the Rights Agreement at the Company’s 2010 Annual Meeting of Stockholders;

 WHEREAS, the Rights are set to expire at the close of business on March 8, 2013; 

WHEREAS, pursuant to Section 27 of the Rights Agreement, prior to the time at which the Rights cease to be redeemable, the
Company may, and the Rights Agent will if the Company so directs, supplement or amend any provision of the Rights Agreement, without the approval of any holders of Rights or shares of Common Stock; 

WHEREAS, as of the date of this Amendment, the Rights are redeemable pursuant to Section 23 of the Rights Agreement;

 WHEREAS, the Board has determined to amend the Rights Agreement in certain respects; and 

WHEREAS, the Company has delivered to the Rights Agent a certificate stating that this Amendment complies with Section 27 of
the Rights Agreement and has directed the Rights Agent to amend the Rights Agreement as set forth herein. 
 NOW
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the Company and the Rights Agent hereby agree as follows: 
 Section 1. Certain Definitions. Capitalized terms used in this Amendment but not otherwise defined herein shall have the meanings ascribed to such terms in the Rights Agreement. 

 Section 2. Amendments to Rights Agreement. 

(a) Final Expiration Date. Section 1(r) of the Rights Agreement is hereby deleted and replaced in its
entirety with the following: 
 “(r) “Final Expiration Date” shall mean the close of business on the
earlier of (i) March 5, 2016 or (ii) March 5, 2014 if and only if Stockholder Approval has not been obtained on or prior to such date.” 
 (b) Purchase Price. The reference to “$22.00” as the initial Purchase Price appearing in Section 7(b) of the Rights Agreement is hereby replaced with the reference to
“$72.00.” 
 (c) Stockholder Approval. The reference to “this Agreement” appearing in
Section 1(rr) of the Rights Agreement is hereby replaced with “that certain First Amendment to Rights Agreement, dated March 5, 2013, between the Company and the Rights Agent.” 

(d) Qualifying Offer Definition. 

(i) Section 1(z)(vi) of the Rights Agreement is hereby deleted and replaced in its entirety with the following
(words bolded and italicized solely for purposes of illustrating the changes): 
 “(vi) an offer that is subject to only
the minimum tender condition described below in Section 1(z)(ix) and other customary terms and conditions (the “Customary Conditions”), which Customary Conditions may include a condition based upon the occurrence
of a material adverse event, but which Customary Conditions shall not include any financing, funding or similar conditions or any requirements with respect to the offeror or its agents being permitted any due diligence with respect to the
books, records, management, accountants or other outside advisors of the Company;” 
 (ii)
Section 1(z)(vii) of the Rights Agreement is hereby deleted and replaced in its entirety with the following (words bolded and italicized solely for purposes of illustrating the changes): 

“(vii) an offer pursuant to which the Company has received an irrevocable, legally binding written commitment of the offeror,
subject to the Customary Conditions, that the offer will remain open for at least 90 calendar days and, if a Special Meeting is duly requested in accordance with Section 23(b), for
at least ten Business Days after but not including the date of the Special Meeting or, if no Special Meeting is held within 60 calendar days following receipt of the Special Meeting Notice in accordance with
Section 23(b), for at least ten Business Days following such 60 calendar day period;” 

 (iii) Section 1(z)(viii) of the Rights Agreement is hereby deleted and
replaced in its entirety with the following (words bolded and italicized solely for purposes of illustrating the changes): 

“(viii) an offer pursuant to which the Company has received an irrevocable, legally binding written commitment of the offeror,
subject to the Customary Conditions, that, in addition to the minimum time periods specified above in Section 1(z)(vii), the offer, if it is otherwise to expire prior thereto, will be extended for at least 20
Business Days after any increase in the consideration being offered or after any bona fide alternative offer is commenced within the meaning of Rule 14d-2(a) under the Exchange Act; provided, however, that such offer need not remain open, as a
result of Section 1(z)(vii) and this Section 1(z)(viii), beyond (A) the time that any other offer satisfying the criteria for a Qualified Offer is then required to be kept open under such Section 1(z)(vii)
and this Section 1(z)(viii) or (B) the expiration date, as such date may be extended by public announcement (with prompt written notice to the Rights Agent) in compliance with Rule 14e-1 under the Exchange Act, of any other tender
offer for the Common Stock with respect to which the Board has agreed to redeem the Rights immediately prior to acceptance for payment of Common Stock thereunder (unless such other offer is terminated prior to its expiration without any Common Stock
having been purchased thereunder) or (C) one Business Day after the stockholder vote with respect to approval of any Definitive Acquisition Agreement has been officially determined and certified by the inspectors of elections;” 

(iv) Section 1(z)(xi) of the Rights Agreement is hereby deleted and replaced in its entirety with the following
(words bolded and italicized solely for purposes of illustrating the changes): 
 “(xi) an offer pursuant to which the
Company and its stockholders have received an irrevocable, legally binding written commitment of the offeror, subject to the Customary Conditions, that no amendments will be made to the offer to reduce the consideration
being offered or to otherwise change the terms of the offer in a way that is adverse to a tendering stockholder;” 

 (v) Subsection (2) of the definition of “fully financed” set
forth in Section 1(z) of the Rights Agreement is hereby deleted and replaced in its entirety with the following (words bolded and italicized solely for purposes of illustrating the changes): 

“(2) cash or cash equivalents then available to the offeror, set apart and maintained solely for the purpose of funding the offer
with an irrevocable, legally binding written commitment being provided by the offeror to the Board, subject to the Customary Conditions, to maintain such availability until the offer is consummated or withdrawn,” 

(e) Qualifying Offer Timeframes. The first and second sentences of Section 23(b) of the Rights Agreement are
hereby deleted and replaced in their entirety with the following (words bolded and italicized solely for purposes of illustrating the changes): 
 “(b) If the Company receives a Qualified Offer and the Board has not redeemed the outstanding Rights or exempted such Qualified Offer from the terms of this Agreement or called a special meeting of
stockholders for the purpose of voting on whether or not to exempt such Qualified Offer from the terms of this Agreement, in each case by the end of 60 calendar days following the commencement of such Qualified Offer, and
if the Company receives, not earlier than 60 calendar days nor later than 90 calendar days following the commencement of such Qualified Offer, a written notice
complying with the terms of this Section 23(b) (the “Special Meeting Notice”), properly executed by the holders of record (or their duly authorized proxy) of 10% or more of the shares of Common Stock then outstanding
(excluding shares of Common Stock beneficially owned by the Person making the Qualified Offer and such Person’s Affiliates and Associates), directing the Board to submit to a vote of stockholders at a special meeting of the stockholders of the
Company (a “Special Meeting”) a resolution authorizing the redemption of all, but not less than all, of the then-outstanding Rights at the Redemption Price (the “Redemption Resolution”), then the Board shall take
such actions as are necessary or desirable to cause the Redemption Resolution to be submitted to a vote of stockholders within 60 calendar days following receipt by the Company of the Special Meeting Notice (the
“Special Meeting Period”), including by including a proposal relating to adoption of the Redemption Resolution in the proxy materials of the Company for the Special Meeting; provided, however, that if the Company, at any time during
the Special Meeting Period and prior to a vote on the Redemption Resolution, enters into a Definitive Acquisition Agreement, the Special Meeting Period may be extended (and any Special Meeting called in connection therewith may be cancelled) if the
Redemption Resolution will be separately submitted to a vote at the same meeting as the Definitive Acquisition Agreement or if the Board has irrevocably determined to redeem the Rights or terminate this Agreement in connection with the closing of
the transaction contemplated by the Definitive Acquisition Agreement. For purposes of a Special Meeting Notice, the record date for determining eligible holders of record of the Common Stock shall be the 60th calendar day following the commencement of a Qualified Offer.” 

 (f) Notices. The Rights Agent notice information in Section 26 of the
Rights Agreement is hereby deleted and replaced in its entirety with the following: 
 “Computershare Shareowner Services
LLC 
 600 N. Pearl Street, Suite 1010 
 Dallas, Texas 75201 
 With a copy to: 

Computershare Shareowner Services LLC 
 Newport Office Center VII 
 480 Washington Blvd. 

Jersey City, NJ 07310 
 Attention: Legal Department” 
 Section 3. Amendments to the Form of
Right Certificate. The first sentence of the first paragraph of the Form of Right Certificate, which is attached as Exhibit B to the Rights Agreement, is hereby deleted and replaced in its entirety with the following: “This certifies that
            , or registered assigns, is the registered owner of the number of Rights set forth above, each of which entitles the owner thereof, subject to the terms, provisions and
conditions of the Rights Agreement dated as of February 25, 2010 (as amended, the “Rights Agreement”) between CAPITAL SENIOR LIVING CORPORATION, a Delaware corporation (the “Company”), and MELLON INVESTOR
SERVICES LLC, a New Jersey limited liability company, now known as COMPUTERSHARE SHAREOWNER SERVICES LLC (the “Rights Agent”), to purchase from the Company at any time after the Distribution Date (as such term is defined in the
Rights Agreement) and prior to the close of business (as such term is defined in the Rights Agreement) on the Final Expiration Date (as defined in the Rights Agreement) at the office of the Rights Agent, or its successors as Rights Agent, designated
for such purposes, one one-thousandth of one fully paid and non-assessable share of the Series A Junior Participating Preferred Stock (the “Preferred Stock”) of the Company, at a purchase price of $72.00 per one one-thousandth of
one share (the “Purchase Price”), upon presentation and surrender of this Right Certificate with the Form of Election to Purchase duly executed.” 
 Section 4. Amendments to the Summary of Rights to Purchase Preferred Stock. 
 (a) The reference to “$22.00” appearing in the first paragraph of the Summary of Rights to Purchase Preferred Stock, which is attached as Exhibit C to the Rights Agreement (the “Summary
of Rights”), is hereby replaced with the reference to “$72.00.” 
 (b) The first and second
sentences of the first paragraph of the Summary of Rights are hereby deleted and replaced in their entirety with the following: “On February 24, 2010, the Board of Directors of CAPITAL SENIOR LIVING CORPORATION (the
“Company”) declared a dividend distribution of one preferred stock purchase right (a “Right”) for each outstanding share of common stock, par value $0.01 per share, of the Company (the “Common
Stock”) payable on March 9, 2010 to the stockholders of record on March 8, 2010 (the “Record Date”), and authorized the issuance of one Right for each share of Common Stock that becomes outstanding after the
Record Date, but before the earliest of the Distribution Date (as defined below), the Final Expiration Date (as defined below) or the date on which the Rights are redeemed.” 

 (c) The last sentence of the first paragraph of the Summary of Rights is
hereby deleted and replaced in its entirety with the following: “The description and terms of the Rights are set forth in a Rights Agreement dated February 25, 2010 (as amended, the “Rights Agreement”), between the Company
and Mellon Investor Services LLC, now known as Computershare Shareowner Services LLC, as Rights Agent (the “Rights Agent”).” 
 (d) The second paragraph of the Summary of Rights is hereby deleted and replaced in its entirety with the following: “A copy of the Rights Agreement has been filed with the Securities and Exchange
Commission as an Exhibit to a Current Report on Form 8-K filed February 26, 2010. A copy of the First Amendment to Rights Agreement, dated March 5, 2013, between the Company and the Rights Agent (the “First Amendment”),
has been filed with the Securities and Exchange Commission as an Exhibit to a Current Report on Form 8-K filed March 8, 2013. Copies of the Rights Agreement and First Amendment are available free of charge from the Rights Agent. The following
summary description of the Rights does not purport to be complete and is qualified in its entirety by reference to the Rights Agreement and the First Amendment, which are hereby incorporated herein by reference.” 

(e) The second sentence of the fifth paragraph of the Summary of Rights is hereby deleted and replaced in its entirety
with the following: “The Rights will expire on the earlier of (i) March 5, 2016 or (ii) March 5, 2014, if and only if Stockholder Approval has not been obtained on or prior to such date (as applicable, the “Final
Expiration Date”) unless the Final Expiration Date is extended or unless earlier redeemed or exchanged by the Company, in each case as described below.” 

(f) The reference to “ninety (90) days” in the 13th paragraph of the Summary of Rights is hereby replaced with the
reference to “sixty (60) calendar days.” 
 (g) The reference to “one
hundred twenty (120) days” in the 14th paragraph
of the Summary of Rights is hereby replaced with the reference to “ninety (90) calendar days.” 
 Section 5.
Delivery of Summary of Rights. Promptly following the date of this Amendment, the Rights Agent, on behalf of the Company and at the Company’s sole cost and expense, if provided with all necessary information and documents, will send a
copy of the Summary of Rights to Purchase Preferred Stock as modified pursuant to this Amendment, in substantially the form attached hereto as Annex A, along with an accompanying cover letter, by first class, postage-prepaid mail or other
means used by the Company to deliver proxy statements, to each holder of record of the Common Stock as of the close of business on the date of this Amendment at the address of such holder shown on the records of the Company. 

 Section 6. Remaining Terms; Controlling Agreement. All other provisions of the
Rights Agreement that are not expressly amended hereby shall continue in full force and effect. From and after the execution and delivery of this Amendment, any references to the Rights Agreement in the Rights Agreement and other agreements or
instruments shall be deemed to refer to the Rights Agreement as amended pursuant to this Amendment. In the event of any conflict between the terms of this Amendment and the Rights Agreement, this Amendment shall control. 

Section 7. Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent
jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. 
 Section 8. Governing Law. This Amendment shall be deemed to be a contract made under the laws of the
State of New York and for all purposes shall be governed by and construed in accordance with the laws of such state applicable to contracts to be made and performed entirely within such state. 

Section 9. Descriptive Headings. Descriptive headings of the sections of this Amendment are inserted for convenience only and
shall not control or affect the meaning or construction of any of the provisions hereof. 
 Section 10.
Counterparts. This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 {Remainder of Page Left Intentionally Blank} 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
their respective seals to be hereunto affixed and attested, all as of the day and year first above written. 
  

									
	Attest:	 		 	CAPITAL SENIOR LIVING CORPORATION
					
	By:	 	 /s/ David R. Brickman
	 		 	By:	 	 /s/ Lawrence A. Cohen

	Name:	 	David R. Brickman	 		 	Name:	 	Lawrence A. Cohen
	 Title:
	 	 Vice President, Secretary and
 General Counsel
	 		 	Title:	 	Chief Executive Officer
				
		 		 		 	COMPUTERSHARE SHAREOWNER SERVICES LLC (f/k/a Mellon Investor Services LLC)
					
		 		 		 	By:	 	 /s/ Lennie Kaufman

		 		 		 	Name:	 	 Lennie Kaufman
 Title: Regional
Manager Investor Services

 [Signature Page to First Amendment to Rights Agreement] 

 Annex A
 Summary of Rights
 [See attached.] 

 CAPITAL SENIOR LIVING CORPORATION 

SUMMARY OF RIGHTS TO PURCHASE PREFERRED STOCK 
 On February 24, 2010, the Board of Directors of CAPITAL SENIOR LIVING CORPORATION (the “Company”) declared a dividend distribution of one preferred stock purchase right (a
“Right”) for each outstanding share of common stock, par value $0.01 per share, of the Company (the “Common Stock”) payable on March 9, 2010 to the stockholders of record on March 8, 2010 (the
“Record Date”), and authorized the issuance of one Right for each share of Common Stock that becomes outstanding after the Record Date, but before the earliest of the Distribution Date (as defined below), the Final Expiration Date
(as defined below) or the date on which the Rights are redeemed. Each Right entitles the registered holder to purchase from the Company one one-thousandth of a share of the Company’s Series A Junior Participating Preferred Stock (the
“Preferred Stock”) at a price of $72.00 per one one-thousandth of a share of Preferred Stock (the “Purchase Price”), subject to adjustment. The description and terms of the Rights are set forth in a Rights Agreement
dated February 25, 2010 (as amended, the “Rights Agreement”), between the Company and Mellon Investor Services LLC, now known as Computershare Shareowner Services LLC, as Rights Agent (the “Rights Agent”).

 A copy of the Rights Agreement has been filed with the Securities and Exchange Commission as an Exhibit to a Current Report
on Form 8-K filed February 26, 2010. A copy of the First Amendment to Rights Agreement, dated March 5, 2013, between the Company and the Rights Agent (the “First Amendment”), has been filed with the Securities and Exchange
Commission as an Exhibit to a Current Report on Form 8-K filed March 8, 2013. Copies of the Rights Agreement and First Amendment are available free of charge from the Rights Agent. The following summary description of the Rights does not
purport to be complete and is qualified in its entirety by reference to the Rights Agreement and the First Amendment, which are hereby incorporated herein by reference. 
 Until the close of business on the Distribution Date, the Rights will be evidenced, with respect to any of the Common Stock certificates outstanding as of the Record Date, by such Common Stock certificate
(or in the case of uncertificated shares of Common Stock, by the registration of such shares on the transfer books of the Company) with a copy of this Summary of Rights. The “Distribution Date” will be the earlier to occur of:

  

	 	(i)	the tenth calendar day following a public announcement that a person or group of affiliated or associated persons (an “Acquiring Person”) has acquired
beneficial ownership of 20% or more of the outstanding shares of the Common Stock (the “Share Acquisition Date”); and 

  

	 	(ii)	the tenth business day (or such later date as may be determined by action of the Board of Directors of the Company prior to such time as any such person or group
becomes an Acquiring Person) after the date of the commencement of, or first public announcement of the intent to commence, by any such person or group, a tender or exchange offer the consummation of which would result in any such person or group
becoming an Acquiring Person. 

  
 - 1 -

 The Rights Agreement provides that, until the Distribution Date (or earlier redemption or
expiration of the Rights), the Rights will be transferable only in connection with the transfer of the Common Stock. Until the Distribution Date (or earlier redemption or expiration of the Rights), new Common Stock certificates issued, or, in the
case of newly issued uncertificated shares of Common Stock, confirmations and account statements sent, after the Record Date, upon transfer or new issuance of the Common Stock, will contain a notation incorporating the Rights Agreement by reference.
Until the Distribution Date (or earlier redemption or expiration of the Rights), the surrender for transfer of any of the Common Stock certificates outstanding as of the Record Date, even without a copy of this Summary of Rights, will also
constitute the transfer of the Rights associated with the Common Stock represented by such certificate. As soon as practicable following the Distribution Date, separate certificates evidencing the Rights (“Right Certificates”) will
be mailed to holders of record of the Common Stock as of the close of business on the Distribution Date and such separate Right Certificates alone will evidence the Rights. 
 The Rights are not exercisable until the Distribution Date. The Rights will expire on the earlier of (i) March 5, 2016 or (ii) March 5, 2014, if and only if Stockholder Approval has
not been obtained on or prior to such date (as applicable, the “Final Expiration Date”) unless the Final Expiration Date is extended or unless earlier redeemed or exchanged by the Company, in each case as described below.

 Each share of Preferred Stock purchasable upon exercise of the Rights will be entitled, when, as and if declared, to a
dividend payment per share equal to an aggregate dividend of 1,000 times the dividend declared per share of Common Stock. In the event of liquidation, the holders of the Preferred Stock will receive a preferential liquidation payment of $1.00 per
share (plus any accrued and unpaid dividends), but will be entitled to receive an aggregate liquidation payment equal to 1,000 times the payment made on one share of Common Stock. 

Each share of Preferred Stock will have 1,000 votes voting together with the Common Stock. Finally, in the event of any merger,
consolidation or other transaction in which shares of Common Stock are exchanged, each share of Preferred Stock will be entitled to receive 1,000 times the amount received per one share of Common Stock. The Rights are protected by customary
anti-dilution provisions. Because of the nature of the Preferred Stock dividend, liquidation and voting rights, the value of the one one-thousandth interest in a share of Preferred Stock purchasable upon exercise of each Right should approximate the
value of one share of Common Stock. 
 The Purchase Price payable, and the number of shares of the Preferred Stock or other
securities or property issuable, upon exercise of the Rights are subject to adjustment from time to time to prevent dilution (i) in the event of a stock dividend on, or a subdivision, combination or reclassification of the Preferred Stock,
(ii) upon the grant to holders of the Preferred Stock of certain rights or warrants to subscribe for shares of the Preferred Stock or convertible securities at less than the current market price of the Preferred Stock or (iii) upon the
distribution to holders of the Preferred Stock of evidences of indebtedness or assets (excluding regular periodic cash dividends out of earnings or retained earnings at a rate not in excess of 125% of the rate of the last cash dividend theretofore
paid or dividends payable in the Preferred Stock) or of subscription rights or warrants (other than those referred to above). 

  
 - 2 -

 The number of outstanding Rights and the number of one one-thousandths of a share of
Preferred Stock issuable upon exercise of each Right are also subject to adjustment in the event of a stock split of the Common Stock or a stock dividend on the Common Stock payable in shares of Common Stock or subdivisions, consolidations or
combinations of the Common Stock occurring, in any such case, prior to the Distribution Date. 
 In the event that the Company
is acquired in a merger or other business combination transaction or 50% or more of its assets or earning power are sold after a person or group has become an Acquiring Person, proper provision will be made so that each holder of a Right will
thereafter have the right to receive, upon the exercise thereof at the Purchase Price, that number of shares of the senior voting stock of the acquiring company that at the time of such transaction would have a market value of two times the Purchase
Price. In the event that any person or group of affiliated or associated persons becomes an Acquiring Person, proper provision will be made so that each holder of a Right, other than Rights that were or are beneficially owned by the Acquiring Person
(which will thereafter be null and void), will thereafter have the right to receive upon exercise that number of shares of the Common Stock having a market value of two times the Purchase Price. 

With certain exceptions, no adjustment in the Purchase Price will be required until cumulative adjustments require an adjustment of at
least 1% in such Purchase Price. No fractional shares of Preferred Stock or Common Stock will be issued (other than fractions that are integral multiples of one one-thousandth of a share of Preferred Stock, which may, at the election of the Company,
be evidenced by depositary receipts) and, in lieu thereof, an adjustment in cash will be made based on the market price of the Preferred Stock or Common Stock, as applicable, on the last trading date prior to the date of exercise. 

At any time after any person or group becomes an Acquiring Person and prior to the acquisition by such person or group of 50% or more of
the outstanding shares of Common Stock, the Board of Directors of the Company may exchange the Rights (other than Rights owned by such person or group that will have become null and void) in whole or in part, at an exchange ratio of one share of
Common Stock (or, if there is an insufficient number of issued but not outstanding or authorized but unissued shares of Common Stock to permit such exchange, then one one-thousandth of a Preferred Share) per Right (subject to adjustment).

 At any time prior to 5:00 p.m. Dallas, Texas time on the earlier of (i) the Share Acquisition Date and (ii) the
Final Expiration Date, the Board of Directors of the Company may redeem the Rights in whole, but not in part, at a price of $0.001 per Right (the “Redemption Price”). In addition, if a Qualified Offer (as described below) is made,
the record holders of 10% or more of the outstanding shares of Common Stock may direct the Board of Directors of the Company to call a special meeting of stockholders to consider a resolution authorizing a redemption of all Rights. If the special
meeting is not held within sixty (60) days of being called or if, at the special meeting, the holders of a majority of the shares of Common Stock outstanding (other than shares held by the offeror and its affiliated and associated persons) vote
in favor of the redemption of the Rights, then the Board of Directors of the Company will redeem the Rights or take such other action as may be necessary to prevent the Rights from interfering with the consummation of the Qualified Offer.

  
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 A Qualified Offer is an offer determined by a majority of the independent directors on the
Board of Directors of the Company to be a fully financed offer for all outstanding shares of Common Stock at a per-share offer price that exceeds the greatest of certain price thresholds specified in the Rights Agreement and that the Board of
Directors of the Company, upon the advice of a nationally recognized investment banking firm, does not deem to be either unfair or inadequate. A Qualified Offer is conditioned upon a minimum of at least two-thirds of the outstanding shares of Common
Stock not held by the offeror (and its affiliated and associated persons) being tendered and not withdrawn, with a commitment to acquire all shares of Common Stock not tendered for the same consideration. If the Qualified Offer includes non-cash
consideration, such consideration must consist solely of freely tradeable common stock of a publicly traded company, and the Board of Directors of the Company and its representatives must be given access to conduct a due diligence review of the
offeror to determine whether the consideration is fair and adequate. A Qualified Offer must also remain open for at least ninety (90) days following commencement. 
 Immediately upon the action of the Board of Directors of the Company to redeem or exchange the Rights, the Company shall make announcement thereof, and upon such action, the right to exercise the Rights
will terminate and the only right of the holders of Rights will be to receive the Redemption Price, or the shares of Common Stock or Preferred Stock exchangeable for the Rights, as applicable. 

Until a Right is exercised, the holder thereof, as such, will have no rights as a stockholder of the Company, including, without
limitation, liquidation rights, the right to vote or to receive dividends. 

  
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