Document:

EX-10.1

 Exhibit 10.1 

CRESTWOOD EQUITY PARTNERS LP 

2018 LONG TERM INCENTIVE PLAN 

1.    Purpose of the Plan. The Crestwood Equity Partners LP 2018 Long Term Incentive Plan (the “Plan”) has
been adopted on May 10, 2018 by Crestwood Equity GP LLC, a Delaware limited liability company (the “General Partner”), the general partner of Crestwood Equity Partners LP, a Delaware limited partnership (the
“Partnership”), effective as of August 14, 2018 (the “Effective Date”). The Plan is intended to promote the interests of the General Partner, the Partnership and their Affiliates by providing to
Employees, Consultants and Directors incentive compensation awards to encourage superior performance. The Plan is also contemplated to enhance the ability of the General Partner, the Partnership and their respective Affiliates to attract and retain
the services of individuals who are essential for the growth and profitability of the Partnership and to encourage them to devote their best efforts to advancing the business of the Partnership. 

2.    Definitions. As used in the Plan, the following terms shall have the meanings set forth below: 

(a)    “409A Award” means an Award that constitutes a “deferral of compensation” within
the meaning of Section 409A, whether by design, due to a subsequent modification in the terms and conditions of such Award or as a result of a change in applicable law following the date of grant of such Award, and that is not exempt from
Section 409A pursuant to an applicable exemption. 

(b)    “Section 409A” means Section 409A of the Code and the applicable
Treasury regulations and other interpretive guidance promulgated pursuant to Section 409A of the Code. 

(c)    “Affiliate” means, with respect to any Person, any other Person that directly or indirectly
through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

(d)    “Award” means an Option, Unit Appreciation Right, Restricted Unit, Phantom Unit, Unit
Award, Substitute Award, Other Unit Based Award or Cash Award granted under the Plan or Performance Awards and includes, as appropriate, any tandem DERs granted with respect to an Award (other than a Restricted Unit or Unit Award). 

(e)    “Award Agreement” means the written or electronic agreement by which an Award shall be
evidenced. 
 (f)    “Board” means the Board of Directors of the General Partner. 

(g)    “Cash Award” means an award denominated in cash. 

(h)    “Change of Control” means, and shall be deemed to have occurred upon one or more of the
following events: 
 (i)    any sale, lease, exchange or other transfer (in one or a series of related
transactions) of all or substantially all of the assets of the Partnership to any Person or its Affiliates, other than the General Partner, the Partnership or any of their Affiliates; 

(ii)    any merger, reorganization, consolidation or other transaction pursuant to which more than 50% of
the combined voting power of the equity interests in the General Partner cease to be controlled by Holdings; or 

 (iii)    any other event specified as a “Change of
Control” in an applicable Award Agreement. 
 Notwithstanding the above, with respect to a 409A Award, a “Change of Control” shall not
occur unless that Change of Control also constitutes a “change in the ownership of a corporation,” a “change in the effective control of a corporation,” or a “change in the ownership of a substantial portion of a
corporation’s assets,” in each case, within the meaning of Section 1.409A-3(i)(5) of the Treasury Regulations, as applied to non-corporate entities. 

(i)    “Chief Executive Officer” means the then-current Chief Executive Officer of the General
Partner. 
 (j)    “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 (k)    “Committee” means the Board or such committee as may be appointed by the Board to
administer the Plan, which alternative committee may be the board of directors or managers of any Affiliate of the General Partner or a committee therefore. 

(l)    “Consultant” means an individual who renders consulting or advisory services to the General
Partner, the Partnership or an Affiliate of either. 
 (m)    “Director” means a member of the
Board or the board of directors of an Affiliate of the General Partner who is not an Employee or a Consultant (other than in that individual’s capacity as a Director). 

(n)    “Distribution Equivalent Right” or “DER” means a contingent right,
granted alone or in tandem with a specific Award (other than a Restricted Unit or Unit Award), to receive with respect to each Unit subject to the Award an amount in cash, Units and/or Phantom Units, as determined by the Committee in its sole
discretion, equal in value to the distributions made by the Partnership with respect to a Unit during the period such Award is outstanding. 

(o)    “Effective Date” has the meaning set forth in Section 1. 

(p)    “Employee” means an employee of the General Partner, the Partnership or the respective
Affiliates of the General Partner or the Partnership. 
 (q)    “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 (r)    “Fair Market Value” means, on any
relevant date, the closing sales price of a Unit on the principal national securities exchange or other market in which trading in Units occurs on the last market trading day prior to the applicable day (or, if there is no trading in the Units on
such date, on the next preceding day on which there was trading) as reported in The Wall Street Journal (or other reporting service approved by the Committee). If Units are not traded on a national securities exchange or other market at the time a
determination of Fair Market Value is required to be made hereunder, the determination of Fair Market Value shall be made by the Committee in good faith using a “reasonable application of a reasonable valuation method” within the meaning
of Section 409A (specifically, Section 1.409A-l(b)(5)(iv)(B) of the Treasury Regulations). 

(s)    “General Partner” has the meaning set forth in Section 1. 

(t)    “Holdings” means Crestwood Holdings LLC. 

  
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 (u)    “Incumbent Director” means an individual who,
as of the Effective Date, is a director of an entity described in this definition, and any individual who becomes a director of such entity subsequent to such date whose election, nomination for election by the entity’s equity holders, or
appointment, was approved by a vote of a majority of the then Incumbent Directors (either by a specific vote or by approval of the proxy statement of the applicable entity in which such person is named as a nominee for director, without objection to
such nomination). 
 (v)    “Option” means an option to purchase Units granted under the Plan.

 (w)    “Other Unit Based Award” means an Award granted to an Employee, Director or Consultant
pursuant to Section 6(f). 
 (x)    “Participant” means an Employee, Consultant or Director
granted an Award under the Plan. 
 (y)    “Partnership” has the meaning set forth in
Section 1. 
 (z)    “Performance Award” means a right granted to an Employee, Director or
Consultant pursuant to Section 6(i), to receive an Award based upon performance criteria specified by the Committee. 

(aa)    “Person” means an individual or a corporation, limited liability company, partnership,
joint venture, trust, unincorporated organization, association, governmental agency or political subdivision thereof or other entity. 

(bb)    “Phantom Unit” means a notional Unit granted under the Plan which upon vesting entitles
the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion. 

(cc)    “Plan” has the meaning set forth in Section 1. 

(dd)    “Qualified Member” means a member of the Committee who is a “nonemployee
director” within the meaning of Rule 16b-3(b)(3). 

(ee)    “Restricted Period” means the period established by the Committee with respect to an Award
during which the Award remains subject to forfeiture and is either not exercisable by or payable to the Participant, as the case may be. 

(ff)    “Restricted Unit” means a Unit granted under the Plan that is subject to a Restricted
Period. 
 (gg)    “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act or any successor rule or regulation thereto as in effect from time to time. 

(hh)    “SEC” means the Securities and Exchange Commission, or any successor thereto. 

(ii)    “Substitute Award” means an award granted pursuant to Section 6(h) of the Plan. 

(jj)    “Unit Distribution Right” or “UDR” means a distribution made by
the Partnership with respect to a Restricted Unit. 
 (kk)    “Unit” or
“Units” means a Common Unit or Common Units of the Partnership. 

  
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 (ll)    “Unit Appreciation Right” means a contingent
right granted under the Plan that entitles the holder to receive, in cash or Units, as determined by the Committee in its sole discretion, an amount equal to the excess of the Fair Market Value of a Unit on the exercise date of the Unit Appreciation
Right (or another specified date) over the exercise price of the Unit Appreciation Right. 
 (mm)    “Unit
Award” means a grant of a Unit that is not subject to a Restricted Period. 
 3.    Administration. 

(a)    Authority of the Committee. The Plan shall be administered by the Committee. A majority of the Committee
shall constitute a quorum, and the acts of the members of the Committee who are present at any meeting thereof at which a quorum is present, or acts unanimously approved by the members of the Committee in writing, shall be the acts of the Committee.
Subject to the terms of the Plan and applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power and authority to: (i) designate Participants;
(ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine the terms and conditions of any Award, consistent with the terms of the Plan, which
terms may include any provision regarding the acceleration of vesting or waiver of forfeiture restrictions or any other condition or limitation regarding an Award, based on such factors as the Committee shall determine, in its sole discretion;
(v) determine whether, to what extent, and under what circumstances Awards may be vested, settled, exercised, canceled, or forfeited; (vi) modify, waive or adjust any term or condition of an Award that has been granted, which may include
the acceleration of vesting, waiver of forfeiture restrictions, modification of the form of settlement of the Award (for example, from cash to Units or vice versa), early termination of a performance period, or modification of any other condition or
limitation regarding an Award; (vii) interpret and administer the Plan and any instrument or agreement relating to an Award made under the Plan; (viii) establish, amend, suspend, or waive such rules and regulations and appoint such agents
as it shall deem appropriate for the proper administration of the Plan; and (ix) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. The Committee may
correct any defect or supply any omission or reconcile any inconsistency in the Plan or an Award Agreement in such manner and to such extent as the Committee deems necessary or appropriate. The determinations of the Committee on the matters referred
to in this Section 3(a) shall be final and conclusive. 
 (b)    Manner and Exercise of Committee Authority.
The Committee may take any action relating to an Award granted or to be granted to a Participant who is then subject to Section 16 of the Exchange Act in respect of the Partnership. If a member of the Committee is not a Qualified Member, any
action of the Committee relating to an Award granted or to be granted to a Participant who is then subject to Section 16 of the Exchange Act in respect of the Partnership may be taken either (i) by a subcommittee, designated by the
Committee, composed solely of two or more Qualified Members, or (ii) by the Committee but with each such member who is not a Qualified Member abstaining or recusing himself or herself from such action; provided, however, that upon
such abstention or recusal the Committee remains composed solely of two or more Qualified Members. Such action, authorized by such a subcommittee or by the Committee upon the abstention or recusal of such
non-Qualified Member(s), shall be the action of the Committee for all purposes of the Plan. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other
decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including, without limitation, the General Partner,
the Partnership, any of their respective Affiliates, any Participant, and any beneficiary of a Participant. The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting
the power or authority of the Committee. Subject to the Plan and any applicable law, the Committee, in its sole discretion, may delegate any or all of its powers and duties 

  
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under the Plan, including the power to grant Awards under the Plan, to the Chief Executive Officer or such other executive officer as it may choose from time to time, subject to such limitations
on such delegated powers and duties as the Committee may impose, if any, and provided that the Committee may not delegate its duties where such delegation would violate state partnership law, the Partnership’s or the General Partner’s
limited liability company agreement, or with respect to making Awards to, or otherwise with respect to Awards granted to, Participants who are subject to Section 16(b) of the Exchange Act. Upon any such delegation, all references in the Plan to
the “Committee,” other than in Section 7, shall be deemed to include the Chief Executive Officer or such other executive officer. Any such delegation shall not limit the Chief Executive Officer’s or such other executive
officer’s right to receive Awards under the Plan; provided, however, the Chief Executive Officer or such other executive officer may not grant Awards to himself, a Director or any executive officer of the General Partner or any of
its Affiliates, or take any action with respect to any Award previously granted to himself, an individual who is an executive officer or a Director. Under no circumstances shall any such delegation result in the loss of an exemption under Rule 16b-3(d)(1) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Partnership. 

(c)    Limitation of Liability. The Committee and each member thereof shall be entitled to, in good faith, rely or
act upon any report or other information furnished to him or her by any officer or employee of the General Partner, the Partnership or any of their respective Affiliates, the General Partner’s or the Partnership’s legal counsel,
independent auditors, consultants or any other agents assisting in the administration of the Plan. Members of the Committee and any officer or employee of the General Partner, the Partnership or any of their respective Affiliates acting at the
direction or on behalf of the Committee shall not be personally liable for any action or determination taken or made in good faith with respect to the Plan, and shall, to the fullest extent permitted by law, be indemnified and held harmless by the
General Partner with respect to any such action or determination. 
 (d)    Exemptions from
Section 16(b) Liability. It is the intent of the General Partner that the grant of any Awards to, or other transaction by, a Participant who is subject to Section 16 of the Exchange Act shall be exempt from
Section 16(b) of the Exchange Act pursuant to Rule 16b-3 or another applicable exemption (except for transactions acknowledged by the Participant in writing to be
non-exempt). Accordingly, if any provision of the Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 or such other exemption as then
applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid
liability under Section 16(b) of the Exchange Act. 
 4.    Units. 

(a)    Limits on Units Deliverable. Subject to adjustment as provided in Section 4(c) and Section 7, the
aggregate number of Units that may be delivered with respect to Awards under the Plan shall initially be equal to 5,000,000 Units. Units withheld from an Award or surrendered by a Participant for purposes of tax withholding (including Units withheld
pursuant to Section 8(b) and the withholding of Units with respect to Restricted Units) or to satisfy the payment of any exercise price with respect to the Award, shall not be considered to be Units delivered under the Plan for this purpose. If
any Award is forfeited, cancelled, exercised, settled in cash, or otherwise terminates or expires without the actual delivery of Units pursuant to such Award (the grant of Restricted Units is not a delivery of Units for this purpose), the Units
subject to such Award shall again be available for Awards under the Plan (including Units not delivered in connection with the exercise of an Option or Unit Appreciation Right). There shall not be any limitation on the number of Awards that
may be granted and paid in cash. 
 (b)    Sources of Units Deliverable Under Awards. Any Units delivered
pursuant to an Award shall consist, in whole or in part, of newly issued Units, Units acquired in the open market, Units acquired from the Partnership, the General Partner or any Affiliate of the Partnership or the General Partner, or any other
Person, or any combination of the foregoing, as determined by the Committee in its discretion. 

  
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 (c)    Anti-dilution Adjustments. Notwithstanding anything contained
in Section 7, with respect to any “equity restructuring” event that could result in an additional compensation expense to the General Partner or the Partnership pursuant to the provisions of FASB Accounting Standards Codification,
Topic 718 if adjustments to Awards with respect to such event were discretionary, the Committee shall equitably adjust the number and type of Units covered by each outstanding Award and the terms and conditions, including the exercise price and
performance criteria (if any), of such Award to equitably reflect such restructuring event and shall adjust the number and type of Units (or other securities or property) with respect to which Awards may be granted after such event. With respect to
any other similar event that would not result in an accounting charge under FASB Accounting Standards Codification, Topic 718 if the adjustment to Awards with respect to such event were subject to discretionary action, the Committee shall have
complete discretion to adjust Awards in such manner as it deems appropriate with respect to such other event. In the event the Committee makes any adjustment pursuant to the foregoing provisions of this Section 4(c), the Committee shall make a
corresponding and proportionate adjustment with respect to the maximum number of Units that may be delivered with respect to Awards under the Plan as provided in Section 4(a) and the kind of Units or other securities available for grant under
the Plan. 
 (d)    Additional Issuances. Except as hereinbefore expressly provided, the issuance by the General
Partner or the Partnership of Units for cash, property, labor or services, upon direct sale, or upon the conversion of Units or obligations of the General Partner or the Partnership convertible into such Units, and in any case whether or not for
fair value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of Units subject to Awards theretofore granted pursuant to the Plan. 

5.    Eligibility. Any Employee, Consultant or Director shall be eligible to be designated a Participant and receive an Award under
the Plan; provided, that an Employee, Consultant or Director must be an “employee” (within the meaning of General Instruction A.1(a) to Form S-8) of the Partnership or a parent or subsidiary of the
Partnership to be eligible to receive such an Award if such individual will be granted an Award that shall, or may, be settled in Units. 

6.    Awards. 

(a)    General. Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the
Committee may impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 7(a)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine,
including terms requiring forfeiture of Awards in the event of termination of employment by the Participant, or termination of the Participant’s service relationship with the General Partner, the Partnership, or their respective Affiliates, and
terms permitting a Participant to make elections relating to his or her Award. The Committee shall retain full power and discretion to accelerate, waive or modify, at any time, any term or condition of an Award that is not mandatory under the Plan;
provided, however, that the Committee shall not have any discretion to accelerate the terms of payment of any 409A Award if such acceleration would subject a Participant to additional taxes under Section 409A. 

(b)    Options. The Committee may grant Options that are intended to comply with Section 1.409A-l(b)(5)(i)(A)
of the Treasury Regulations only to Employees, Consultants or Directors performing services on the date of grant for the Partnership or a corporation or other type of entity in a chain of corporations or other entities in which each corporation or
other entity has a “controlling interest” in another corporation or entity in the chain, starting with the Partnership and ending with the corporation or 

  
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other entity for which the Employee, Consultant or Director performs services. For purposes of this Section 6(b), “controlling interest” means (i) in the case of a
corporation, ownership of stock possessing at least 50% of total combined voting power of all classes of stock of such corporation entitled to vote or at least 50% of the total value of shares of all classes of stock of such corporation;
(ii) in the case of a partnership, ownership of at least 50% of the profits interest or capital interest of such partnership; (iii) in the case of a sole proprietorship, ownership of the sole proprietorship; or (iv) in the case of a
trust or estate, ownership of an actuarial interest (as defined in Section 1.414(c)-2(b)(2)(ii) of the Treasury Regulations) of at least 50% of such trust or estate. The Committee may grant Options that
are otherwise exempt from or compliant with Section 409A to any eligible Employee, Consultant or Director. The Committee shall have the authority to determine the number of Units to be covered by each Option, the exercise price therefore and
the Restricted Period and other conditions and limitations applicable to the exercise of the Option, including the following terms and conditions and such additional terms and conditions, as the Committee shall determine, that are not inconsistent
with the provisions of the Plan. 
 (i)    Exercise Price. The exercise price per Unit purchasable
under an Option shall be determined by the Committee at the time the Option is granted but, except with respect to a Substitute Award, may not be less than the Fair Market Value of a Unit as of the date of grant of the Option. For purposes of this
Section 6(b)(i), the Fair Market Value of a Unit shall be determined as of the date of grant. 

(ii)    Time and Method of Exercise. The Committee shall determine the exercise terms and the
Restricted Period with respect to an Option grant, which may include, without limitation, a provision for accelerated vesting upon the achievement of specified performance goals or other events, and the method or methods by which payment of the
exercise price with respect thereto may be made or deemed to have been made, which may include, without limitation, cash, check acceptable to the General Partner, withholding Units from an Award, a “cashless-broker” exercise through
procedures approved by the General Partner, or any combination of the above methods, having a Fair Market Value on the exercise date equal to the relevant exercise price. 

(iii)    Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon
termination of a Participant’s employment or service to the General Partner, the Partnership and their respective Affiliates or membership on the Board or the board of directors of an Affiliate of the General Partner, whichever is applicable,
for any reason during the applicable Restricted Period, all unvested Options shall be forfeited by the Participant. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Options;
provided, that the waiver contemplated under this Section 6(b)(iii) shall be effective only to the extent that such waiver will not cause the Participant’s Options that are designed to satisfy Section 409A to fail to satisfy
such Section. 
 (c)    Unit Appreciation Rights. The Committee may grant Unit Appreciation Rights that are
intended to comply with Section 1.409A-l(b)(5)(i)(B) of the Treasury Regulations only to Employees, Consultants or Directors performing services on the date of grant for the Partnership or a corporation
or other type of entity in a chain of corporations or other entities in which each corporation or other entity has a “controlling interest” in another corporation or entity in the chain, starting with the Partnership and ending with the
corporation or other entity for which the Employee, Consultant or Director performs services. For purposes of this Section 6(c), “controlling interest” means (i) in the case of a corporation, ownership of stock possessing at
least 50% of total combined voting power of all classes of stock of such corporation entitled to vote or at least 50% of the total value of shares of all classes of stock of such corporation; (ii) in the case of a partnership, ownership of at
least 50% of the profits interest or capital interest of such partnership; (iii) in the case of a sole proprietorship, ownership of the sole proprietorship; or (iv) in the case of a trust or estate, ownership of an actuarial interest (as
defined in Section 1.414(c)-

  
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2(b)(2)(ii) of the Treasury Regulations) of at least 50% of such trust or estate. The Committee may grant Unit Appreciation Rights that are otherwise exempt from or compliant with
Section 409A to any eligible Employee, Consultant or Director. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Unit Appreciation Rights shall be granted, the number of Units to be covered by
each grant, whether Units or cash shall be delivered upon exercise, the exercise price therefor and the conditions and limitations applicable to the exercise of the Unit Appreciation Rights, including the following terms and conditions and such
additional terms and conditions as the Committee shall determine, that are not inconsistent with the provisions of the Plan. 

(i)    Exercise Price. The exercise price per Unit under a Unit Appreciation Right shall be
determined by the Committee at the time the Unit Appreciation Right is granted but, except with respect to a Substitute Award, may not be less than the Fair Market Value of a Unit as of the date of grant of the Unit Appreciation Right. For purposes
of this Section 6(c)(i), the Fair Market Value of a Unit shall be determined as of the date of grant. 

(ii)    Time of Exercise. The Committee shall determine the Restricted Period and the time or times
at which a Unit Appreciation Right may be exercised in whole or in part, which may include, without limitation, accelerated vesting upon the achievement of specified performance goals or other events. 

(iii)    Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon
termination of a Participant’s employment with or service to the General Partner, the Partnership and their respective Affiliates or membership on the Board or the board of directors of an Affiliate of the General Partner, whichever is
applicable, for any reason during the applicable Restricted Period, all outstanding Unit Appreciation Rights awarded to the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in
part such forfeiture with respect to a Participant’s Unit Appreciation Rights; provided that the waiver contemplated under this Section 6(c)(iii) shall be effective only to the extent that such waiver will not cause the Participant’s
Options that are designed to satisfy Section 409A to fail to satisfy such regulations. 
 (d)    Restricted
Units and Phantom Units. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Restricted Units or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to
each such Participant, the Restricted Period, the conditions under which the Restricted Units or Phantom Units may become vested or forfeited and such other terms and conditions as the Committee may establish with respect to such Awards. 

(i)    UDRs. To the extent provided by the Committee, in its discretion, a grant of Restricted Units
may provide that the distributions made by the Partnership with respect to the Restricted Units shall be subject to the same forfeiture and other restrictions as the Restricted Unit and, if restricted, such distributions shall be held, without
interest, until the Restricted Unit vests or is forfeited with the UDR being paid or forfeited at the same time, as the case may be. In addition, the Committee may provide that such distributions be used to acquire additional Restricted Units for
the Participant. Such additional Restricted Units may be subject to such vesting and other terms as the Committee may prescribe. Absent such a restriction on the UDRs in the Award Agreement, UDRs shall be paid to the holder of the Restricted Unit
without restriction at the same time as cash distributions are paid by the Partnership to its unitholders. Notwithstanding the foregoing, UDRs shall only be paid in a manner that is either exempt from or in compliance with Section 409A. 

(ii)    Forfeitures. Except as otherwise provided in the terms of the applicable Award Agreement,
upon termination of a Participant’s employment with or services to the General 

  
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Partner, the Partnership and their respective Affiliates or membership on the Board or the board of directors of an Affiliate of the General Partner, whichever is applicable, for any reason
during the applicable Restricted Period, all outstanding, unvested Restricted Units and Phantom Units awarded to the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in part
such forfeiture with respect to a Participant’s Restricted Units and/or Phantom Units; provided that the waiver contemplated under this Section 6(d)(ii) shall be effective only to the extent that such waiver will not cause the
Participant’s Restricted Units and/or Phantom Units that are designed to satisfy Section 409A to fail to satisfy such Section. 

(iii)    Lapse of Restrictions. 

(A)    Phantom Units. Except as otherwise set forth in an Award Agreement, no later than the 45th calendar day following the vesting of each Phantom Unit, subject to the provisions of Section 8(b), the Participant shall be entitled to settlement of such Phantom Unit and shall receive one
Unit or an amount in cash equal to the Fair Market Value of a Unit (for purposes of this Section 6(d)(iii), as calculated on the last day of the Restricted Period), as determined by the Committee in its discretion. 

(B)    Restricted Units. Except as otherwise provided in an Award Agreement, upon the vesting of
each Restricted Unit, subject to satisfying the tax withholding provisions of Section 8(b), the Participant shall be entitled to have the restrictions removed from his or her Award so that the Participant then holds an unrestricted Unit. 

(e)    Unit Awards. The Committee shall have the authority to grant a Unit Award under the Plan to any Employee,
Consultant or Director in a number determined by the Committee in its discretion, as a bonus or additional compensation or in lieu of cash compensation the individual is otherwise entitled to receive, in such amounts as the Committee determines to
be appropriate. 
 (f)    Cash Awards; Other Unit Based Awards. The Committee is authorized, subject to
limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Units, as deemed by the Committee to be consistent
with the purposes of the Plan, including, without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Units, purchase rights for Units, Awards with value and payment contingent upon performance of
the Partnership or any other factors designated by the Committee, and Awards valued by reference to the book value of Units or the value of securities of or the performance of specified Affiliates of the General Partner or the Partnership. The
Committee shall determine the terms and conditions of such Awards. Units delivered pursuant to an Award in the nature of a purchase right granted under this Section 6(f) shall be purchased for such consideration, paid for at such times, by such
methods, and in such forms, including, without limitation, cash, Units, other Awards, or other property, as the Committee shall determine. Cash awards, as an element of or supplement to, or independent of any other Award under the Plan, may also be
granted pursuant to this Section 6(f). 
 (g)    DERs. To the extent provided by the Committee, in its
discretion, an Award (other than a Restricted Unit or Unit Award) may include a tandem DER grant, which may provide that such DERs shall be paid directly to the Participant, be reinvested into additional Awards, be credited to a bookkeeping account
(with or without interest in the discretion of the Committee) subject to the same vesting restrictions as the tandem Award, or be subject to such other provisions or restrictions as determined by the Committee in its discretion. Absent a contrary
provision in the Award Agreement, DERs shall be paid to the Participant without restriction at the same time as ordinary cash distributions are paid by the Partnership to its unitholders. Notwithstanding the foregoing, DERs shall only be paid in a
manner that is either exempt from or in compliance with Section 409A. 

  
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 (h)    Substitute Awards. Awards may be granted under the Plan in
substitution for similar awards held by individuals who become Employees, Consultants or Directors as a result of a merger, consolidation or acquisition by the Partnership or an Affiliate of the Partnership of another entity or the assets of another
entity. Such Substitute Awards that are Options or Unit Appreciation Rights may have exercise prices less than the Fair Market Value of a Unit on the date of the substitution if such substitution complies with Section 409A and other applicable
laws and exchange rules. Except as provided in this Section 6(h) or in Section 7, without the approval of the unitholders of the Partnership, the terms of outstanding Awards may not be amended to (i) reduce the Exercise Price of an
outstanding Option or Unit Appreciation Right, (ii) grant a new Option, Unit Appreciation Right or other Award in substitution for, or upon the cancellation of, any previously granted Option or Unit Appreciation Right that has the effect of
reducing the Exercise Price thereof, (iii) exchange any Option or Unit Appreciation Right for Units, cash or other consideration when the Exercise Price per Unit under such Option or Unit Appreciation Right exceeds the Fair Market Value of a
Unit, or (iv) take any other action that would be considered a “repricing” of an Option or Unit Appreciation Right under the applicable listing standards of the national securities exchange on which the Units are listed (if any). 

(i)    Performance Awards. The right of a Participant to receive a grant of, exercise, vest in, or receive
settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of performance as it may deem appropriate in
establishing any performance conditions, and may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions. 

(i)    Performance Goals Generally. The performance goals for such Performance Awards shall consist
of one or more business criteria or individual performance criteria and a targeted level or levels of performance with respect to each of such criteria, as specified by the Committee consistent with this Section 6(i). The Committee may
determine that such Performance Awards shall be granted, exercised, and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition to grant, exercise and/or settlement of such
Performance Awards. The Committee shall establish any such performance conditions and goals based on one or more business criteria for the General Partner and/or the Partnership, on a consolidated basis, and/or for specified Affiliates or business
or geographical units of the Partnership, as determined by the Committee in its discretion, which may include (but are not limited to) one or more of the following: (A) earnings per Unit, (B) increase in revenues, (C) increase in cash
flow, (D) increase in cash flow from operations, (E) increase in cash flow return on investment, (F) return on net assets, (G) return on assets, (H) return on investment, (I) return on capital, (J) return on
equity, (K) economic value added, (L) operating margin, (M) contribution margin, (N) net income, (O) net income per Unit, (P) pretax earnings, (Q) pretax earnings before interest, depreciation and amortization,
(R) pretax operating earnings after interest expense and before incentives, service fees, and extraordinary or special items, (S) total unitholder return, (T) debt reduction or management, (U) market share, (V) change in the
Fair Market Value of the Units, (W) operating income, (X) sales; (Y) expense reduction or management; (Z) unitholder value added; (AA) net operating profit; (BB) net operating profit after tax; (CC) effective equipment
utilization; (DD) achievement of savings from business improvement projects; (EE) capital project deliverables; (FF) performance against environmental targets; (GG) safety performance and/or incident rate; (HH) human resources management targets,
including medical cost reductions and time to hire; (II) leverage ratios including debt to equity and debt to total capital; (JJ) new or expanded market penetration; (KK) satisfactory internal or

  
 10 

 
external audits; and (LL) any of the above goals determined on an absolute or relative basis or as compared to the performance of a published or special index deemed applicable by the Committee
including, but not limited to, the Standard & Poor’s 500 Stock Index or a group of comparable companies. Performance goals may differ for Performance Awards granted to any one Participant or to different Participants. 

(ii)    Performance Periods. Achievement of performance goals in respect of such Performance Awards
shall be measured over a performance period of up to ten years, as specified by the Committee. Performance goals shall be established by the Committee not later than 90 days after the beginning of any performance period applicable to such
Performance Awards. 
 (iii)    Settlement. At the end of each performance period, the Committee
shall determine the amount, if any, of the amount of the potential Performance Award otherwise payable to each Participant and, except as otherwise provided in an Award Agreement, such amount shall be paid to the Participant no later than
March 15 of the year following the year that included the last day of the performance period. Settlement of such Performance Awards shall be in cash, Units, other Awards or other property, in the discretion of the Committee. The Committee may,
in its discretion, reduce or increase the amount of a settlement otherwise to be made in connection with such Performance Awards. The Committee shall specify the circumstances in which such Performance Awards shall be paid or forfeited in the event
of termination of employment by the Participant prior to the end of a performance period or settlement of Performance Awards.  

(j)    Certain Provisions Applicable to Awards. 

(i)    Stand-Alone, Additional, Tandem and Substitute Awards. Awards may, in the discretion of the
Committee, be granted either alone or in addition to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under any other plan of the Partnership or any of its Affiliates. Awards granted in addition to,
in substitution for, or in tandem with other Awards or awards granted under any other plan of the Partnership or any of its Affiliates may be granted either at the same time as or at a different time from the grant of such other Awards or awards. If
an Award is granted in substitution or exchange for another Award, the Committee shall require the surrender of such other Award in consideration for the grant of the new Award. Awards under the Plan may be granted in lieu of cash compensation,
including in lieu of cash amounts payable under other plans of the General Partner, the Partnership, or any of their respective Affiliates, in which the value of Units subject to the Award is equivalent in value to the cash compensation, or in which
the exercise price, grant price, or purchase price of the Award in the nature of a right that may be exercised is equal to the Fair Market Value of the underlying Units minus the value of the cash compensation surrendered. Awards granted pursuant to
the preceding sentence shall be designed, awarded and settled in a manner that does not result in additional taxes under Section 409A. 

(ii)    Limits on Transfer of Awards. 

(A)    Except as provided in Section 6(j)(ii)(C) below, each Option and Unit Appreciation Right shall
be exercisable only by the Participant during the Participant’s lifetime, or by the Person to whom the Participant’s rights shall pass by will or the laws of descent and distribution. 

(B)    Except as provided in Section 6(j)(ii)(C) below, no Award, and no right under any such Award
may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant, other than by will or the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale,
transfer or encumbrance shall be 

  
 11 

 
void and unenforceable against the General Partner, the Partnership or any of their respective Affiliates. For the avoidance of doubt, this Section 6(j)(ii)(B) does not apply to a Unit Award
or any Award that has been settled (e.g., a Restricted Unit that has vested or an Option that has been exercised). 

(C)    To the extent specifically provided by the Committee with respect to an Option or Unit Appreciation
Right, an Option or Unit Appreciation Right may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships or similar entities on such terms and conditions as the Committee may
from time to time establish. 
 (D)    An Award may be transferred pursuant to a domestic relations order
entered or approved by a court of competent jurisdiction upon delivery to the General Partner, of a written request for such transfer and a certified copy of such order. 

(iii)    Term of Awards. The term of each Award shall be for such period as may be determined by the
Committee. 
 (iv)    Form and Timing of Payment under Awards; Deferrals. Subject to the terms of
the Plan and any applicable Award Agreement, payments to be made by the General Partner, the Partnership, or any of their respective Affiliates, upon the exercise of an Option or other Award or settlement of an Award may be made in such forms as the
Committee shall determine, including without limitation cash, Units, other Awards or other property, and may be made in a single payment or transfer, in installments, or on a deferred basis; provided, however, that any such deferred
payment will be set forth in the agreement evidencing such Award and/or otherwise made in a manner that will not result in additional taxes under Section 409A. Except as otherwise provided herein, the settlement of any Award may be accelerated,
and cash paid in lieu of Units in connection with such settlement, in the discretion of the Committee or upon occurrence of one or more specified events (in addition to a Change of Control). Installment or deferred payments may be required by the
Committee (subject to Section 7(a) of the Plan, including the consent provisions thereof in the case of any deferral of an outstanding Award not provided for in the original Award Agreement) or permitted at the election of the Participant on
terms and conditions established by the Committee and in compliance with Section 409A. Payments may include, without limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or
crediting of DERs or other amounts in respect of installment or deferred payments denominated in Units. The Plan shall not constitute an “employee benefit plan” for purposes of Section 3(3) of the Employee Retirement Income Security
Act of 1974, as amended. 
 (v)    Issuance of Units. The Units or other securities of the
Partnership delivered pursuant to an Award may be evidenced in any manner deemed appropriate by the Committee in its sole discretion, including, but not limited to, in the form of a certificate issued in the name of the Participant or by book entry,
electronic or otherwise and shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the SEC, any stock exchange upon which such
Units or other securities are then listed, and any applicable federal or state laws, and the Committee may cause a legend or legends to be inscribed on any such certificates or book entries to make appropriate reference to such restrictions. 

(vi)    Consideration for Grants. Awards may be granted for such consideration, including services,
as the Committee shall determine. 

  
 12 

 (vii)    Exemptions from Section 16(b)
Liability. It is the intent of the General Partner that the grant of any Awards to or other transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt from such Section pursuant to an applicable exemption
(except for transactions acknowledged in writing to be nonexempt by such Participant). Accordingly, if any provision of the Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 as
then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid
liability under Section 16(b) of the Exchange Act. 
 (viii)    Delivery of Units or other
Securities and Payment by Participant of Consideration. Notwithstanding anything in the Plan or any Award Agreement to the contrary, delivery of Units pursuant to the exercise, vesting and/or settlement of an Award may be deferred for any period
during which, in the good faith determination of the Committee, the General Partner is not reasonably able to obtain Units to deliver pursuant to such Award without violating applicable law or the applicable rules or regulations of any governmental
agency or authority or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award Agreement (including, without
limitation, any exercise price or tax withholding) is received by the General Partner. 

(ix)    Additional Agreements. Each Employee, Consultant or Director to whom an Award is granted
under the Plan may be required to agree in writing, as a condition to the grant of such Award or otherwise, to subject an Award that is exercised or settled following such Person’s termination of services with the General Partner, the
Partnership or their Affiliates to a general release of claims and/or a noncompetition and/or non-disparagement agreement in favor of the General Partner, the Partnership, and their Affiliates, with such other
terms and conditions of such agreement(s) to be determined in good faith by the Committee. 

(x)    Termination of Employment. Except as provided herein, the treatment of an Award upon a
termination of employment or any other service relationship by and between a Participant and the General Partner, the Partnership, or any of their Affiliates shall be specified in the Award Agreement controlling such Award. 

7.    Amendment and Termination. Except to the extent prohibited by applicable law: 

(a)    Amendments to the Plan and Awards. Except as required by applicable law or the rules of the principal
securities exchange, if any, on which the Units are traded, the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner, including increasing the number of Units available for Awards under the Plan, without
the consent of any partner, Participant, other holder or beneficiary of an Award, or any other Person. Notwithstanding the foregoing, the Committee may waive any conditions or rights under, amend any terms of, or alter any Award theretofore granted,
provided that no change, other than pursuant to Section 7(b), 7(c), 7(d), 7(e), or 7(g) below, in any Award shall materially reduce the rights or benefits of a Participant with respect to an Award without the consent of such Participant. 

(b)    Subdivision or Consolidation of Units. The terms of an Award and the number of Units authorized pursuant to
Section 4 for issuance under the Plan shall be subject to adjustment from time to time, in accordance with the following provisions: 

(i)    If at any time, or from time to time, the Partnership shall subdivide as a whole (by
reclassification, by a Unit split, by the issuance of a distribution on Units payable in Units, or otherwise) or in the event the Partnership distributes an extraordinary cash dividend the number of 

  
 13 

 
Units then outstanding into a greater number of Units, then, as appropriate, (A) the maximum number of Units available for the Plan or in connection with Awards as provided in Section 4
shall be increased proportionately, and the kind of other securities available for the Plan shall be appropriately adjusted, (B) the number of Units (or other kind of securities) that may be acquired under any then outstanding Award shall be
increased proportionately, and (C) the price (including the exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall be reduced proportionately, without changing the aggregate purchase price or value
as to which outstanding Awards remain exercisable or subject to restrictions. 
 (ii)    If at any time,
or from time to time, the Partnership shall consolidate as a whole (by reclassification, by reverse Unit split, or otherwise) the number of Units then outstanding into a lesser number of Units, (A) the maximum number of Units for the Plan or
available in connection with Awards as provided in Section 4 shall be decreased proportionately, and the kind of other securities available for the Plan shall be appropriately adjusted, (B) the number of Units (or other kind of securities)
that may be acquired under any then outstanding Award shall be decreased proportionately, and (C) the price (including the exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall be increased
proportionately, without changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to restrictions. 

(iii)    Whenever the number of Units subject to outstanding Awards and the price for each Unit subject to
outstanding Awards are required to be adjusted as provided in this Section 7(b), the Committee shall promptly prepare a notice setting forth, in reasonable detail, the event requiring adjustment, the amount of the adjustment, the method by
which such adjustment was calculated, and the change in price and the number of Units, other securities, cash, or property purchasable subject to each Award after giving effect to the adjustments. The Committee shall promptly provide each affected
Participant with such notice. 
 (iv)    Adjustments under Sections 7(b)(i) and (ii) shall be made
by the Committee, and its determination as to what adjustments shall be made and the extent thereof shall be final, binding, and conclusive. No fractional interest shall be issued under the Plan on account of any such adjustments. 

(c)    Recapitalizations. If the Partnership recapitalizes, reclassifies its equity securities, or otherwise
changes its capital structure (a “recapitalization”) without a Change of Control, the number and class of Units covered by an Award theretofore granted shall be adjusted so that such Award shall thereafter cover the number
and class of Units and securities to which the holder would have been entitled pursuant to the terms of the recapitalization if, immediately prior to the recapitalization, the holder had been the holder of record of the number of Units then covered
by such Award and the Unit limitations provided in Section 4 shall be adjusted in a manner consistent with the recapitalization. 

(d)    Additional Issuances. Except as expressly provided herein, the issuance by the Partnership of units of any
class or securities convertible into units of any class, for cash, property, labor or services, upon direct sale, upon the exercise of rights or warrants to subscribe therefor, or upon conversion of units or obligations of the Partnership
convertible into such units or other securities, and in any case whether or not for fair value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of Units subject to Awards theretofore granted or the
purchase price per Unit, if applicable. 
 (e)    Change of Control. Notwithstanding any other provisions of the
Plan or any Award Agreement to the contrary, upon a Change of Control, all Awards outstanding shall become fully exercisable, vested and nonforfeitable and payable in full, as the case may be, upon such Change of

  
 14 

 
Control or at such earlier time as the Committee may provide. In addition, the Committee, acting in its sole discretion without the consent or approval of any holder, may affect one or more of
the following alternatives, which may vary among individual holders and which may vary among Awards: (i) accelerate the time of exercisability or the time at which the Restricted Period shall lapse to a specific date, before or after such
Change of Control, specified by the Committee; (ii) require the mandatory surrender to the General Partner or the Partnership by selected holders of some or all of the outstanding Awards held by such holders (irrespective of whether such Awards
are then subject to a Restricted Period or other restrictions pursuant to the Plan) as of a date, before or after such Change of Control, specified by the Committee, in which event the Committee shall thereupon cancel such Awards and pay to each
holder an amount of cash per Unit equal to the amount calculated in Section 7(f) (the “Change of Control Price”) less the exercise price, if any, applicable to such Awards; provided, however, that to the
extent the exercise price of an Option or a Unit Appreciation Right exceeds the Change of Control Price, no consideration will be paid with respect to that Award; or (iii) make such adjustments to Awards then outstanding as the Committee deems
appropriate to reflect such Change of Control (including, but not limited to, the substitution of Awards for new awards) provided such adjustment is consistent with this Section 7(e); provided, however, that the Committee may
determine in its sole discretion that no adjustment is necessary to Awards then outstanding. 
 (f)    Change of
Control Price. The “Change of Control Price” shall equal the amount determined in clause (i), (ii), (iii), (iv) or (v), whichever is applicable, as follows: (i) the per Unit price offered to Unit holders in any
merger or consolidation, (ii) the per Unit value of the Units immediately before the Change of Control without regard to assets sold in the Change of Control and assuming the General Partner or the Partnership, as applicable, has received the
consideration paid for the assets in the case of a sale of the assets, (iii) the amount distributed per Unit in a dissolution transaction, (iv) the price per Unit offered to Unit holders in any tender offer or exchange offer whereby a
Change of Control takes place, or (v) if such Change of Control occurs other than pursuant to a transaction described in clauses (i), (ii), (iii), or (iv) of this Section 7(f), the Fair Market Value per Unit of the Units that may
otherwise be obtained with respect to such Awards or to which such Awards track, as determined by the Committee as of the date determined by the Committee to be the date of cancellation and surrender of such Awards. In the event that the
consideration offered to unitholders of the Partnership in any transaction described in this Section 7(f) or Section 7(e) consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the
consideration offered which is other than cash. 
 (g)    Impact of Corporate Events on Awards Generally. In the
event of changes in the outstanding Units by reason of a recapitalization, reorganization, merger, consolidation, combination, exchange or other relevant change in capitalization occurring after the date of the grant of any Award and not otherwise
provided for by this Section 7, any outstanding Awards and any Award Agreements evidencing such Awards shall be subject to adjustment by the Committee at its discretion, which adjustment may, in the Committee’s discretion, be described in
the Award Agreement and may include, but not be limited to, adjustments as to the number and price of Units or other consideration subject to such Awards, accelerated vesting (in full or in part) of such Awards, conversion of such Awards into awards
denominated in the securities or other interests of any successor Person, or the cash settlement of such Awards in exchange for the cancellation thereof. In the event of any such change in the outstanding Units, the aggregate number of Units
available under the Plan may be appropriately adjusted by the Committee, whose determination shall be conclusive. 
 8.    General
Provisions. 
 (a)    No Rights to Award. No Person shall have any claim to be granted any Award under the
Plan, and there is no obligation for uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient. 

  
 15 

 (b)    Tax Withholding. Unless other arrangements have been made that
are acceptable to the General Partner or any of its Affiliates, the Partnership and any of its Affiliates are authorized to accept, deduct, withhold, or cause to be deducted or withheld, from any Award, from any payment due or transfer made under
any Award or from any compensation or other amount owing to a Participant the amount (in cash, previously held Units, Units that would otherwise be issued pursuant to such Award, or other property) of any applicable taxes payable in respect of the
grant or settlement of an Award, its exercise, the lapse of restrictions thereon, or any other payment or transfer under an Award or under the Plan and to take such other action as may be necessary or appropriate in the opinion of the General
Partner or any of their respective Affiliates to pay such taxes. If such taxes are satisfied through the withholding of Units that are otherwise issuable to the Participant pursuant to an Award (or through the surrender of Units by the Participant
to the General Partner), the maximum number of Units that may be withheld (or surrendered) pursuant to this Section 8(b) shall be the number of Units that have an aggregate Fair Market Value on the date of withholding or repurchase equal to the
aggregate amount of potential tax liabilities determined based on the greatest withholding rates for federal, state, foreign and/or local tax purposes, including payroll taxes, that may be utilized with respect to the Participant without creating
adverse accounting treatment with respect to such Award, as determined by the Committee. It is the intent of the General Partner that the payment of taxes for a Participant who is subject to Section 16 of the Exchange Act through (i) the
withholding of Units that are otherwise issuable to the Participant pursuant to an Award or (ii) the surrender of previously held Units by the Participant to the General Partner shall be exempt from Section 16(b) of the Exchange Act
pursuant to Rule 16b-3 or another applicable exemption (except for transactions acknowledged by the Participant in writing to be non-exempt). The method of satisfying
tax obligations shall be determined by the Committee in its sole discretion. 
 (c)    No Right to Employment or
Services. The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of the General Partner, the Partnership or any of their Affiliates, to continue providing consulting services, or to remain on
the Board, as applicable. Furthermore, the General Partner, the Partnership or any of their Affiliates may at any time dismiss a Participant from employment or his or her service relationship free from any liability or any claim under the Plan,
unless otherwise expressly provided in the Plan, any Award Agreement or other agreement. 
 (d)    Governing Law.
The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with the laws of the State of Delaware without regard to its conflicts of law principles. 

(e)    Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal,
or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable law or,
if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award and the remainder of the
Plan and any such Award shall remain in full force and effect. If any of the terms or provisions of the Plan or any Award Agreement conflict with the requirements of Rule 16b-3 (as those terms or provisions
are applied to Participants who are subject to Section 16(b) of the Exchange Act), then those conflicting terms or provisions shall be deemed inoperative to the extent they so conflict with the requirements of Rule 16b-3 (unless the Board or the Committee, as appropriate, has expressly determined that the Plan or such Award should not comply with Rule 16b-3). 

(f)    Other Laws. The Committee may refuse to issue or transfer any Units or other consideration under an Award
if, in its sole discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation, the rules of the principal securities exchange on which the Units are then traded, or
entitle the Partnership or any of its Affiliates to 

  
 16 

 
recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the General Partner by a Participant, other holder or beneficiary in connection with the exercise of
such Award shall be promptly refunded to the relevant Participant, holder or beneficiary. 
 (g)    No Trust or Fund
Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the General Partner or any of their Affiliates and a Participant or any other Person. To the
extent that any Person acquires a right to receive payments from the General Partner or any of their Affiliates pursuant to an Award, such right shall be no greater than the right of any general unsecured creditor of the General Partner or such
Affiliate. 
 (h)    No Fractional Units. No fractional Units shall be issued or delivered pursuant to the Plan
or any Award, and the Committee shall determine in its sole discretion whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights thereto shall be
canceled, terminated, or otherwise eliminated with or without consideration. 
 (i)    Headings. Headings are
given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 

(j)    Facility of Payment. Any amounts payable hereunder to any individual under legal disability or who, in the
judgment of the Committee, is unable to manage properly his financial affairs, may be paid to the legal representative of such individual, or may be applied for the benefit of such individual in any manner that the Committee may select, and the
General Partner shall be relieved of any further liability for payment of such amounts. 
 (k)    Allocation of
Costs. Nothing herein shall be deemed to override, amend, or modify any cost sharing arrangement, omnibus agreement, or other arrangement between the General Partner, the Partnership, and any of their respective Affiliates regarding the sharing
of costs between those entities. 
 (l)    Gender and Number. Words in the masculine gender shall include the
feminine gender, the plural shall include the singular and the singular shall include the plural. 

(m)    Compliance with Section 409A. Nothing in the Plan or any Award Agreement shall operate or
be construed to cause the Plan or an Award to fail to comply with any applicable requirements of Section 409A. The applicable provisions of Section 409A are hereby incorporated by reference and shall control over any Plan or Award
Agreement provision in conflict therewith that would cause a failure of compliance thereunder, to the extent necessary to resolve such conflict or obviate such failure. All 409A Awards shall be designed to comply with Section 409A.
Notwithstanding any provision herein to the contrary, none of the Board, the Partnership, the General Partner or any of their respective Affiliates makes any representations that any Awards (or payments with respect to any Awards) are exempt from or
compliant with Section 409A and in no event shall the Board, the Partnership, the General Partner or any of their respective Affiliates be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by
any Participant on account of non-compliance with Section 409A. 

(n)    Specified Employee under Section 409A. Subject to any other restrictions or limitations
contained herein, in the event that a “specified employee” (as defined under Section 409A) becomes entitled to a payment under an Award which is a 409A Award on account of a “separation from service” (as defined under
Section 409A), to the extent required by the Code, such payment shall occur on the date that is six months plus one day from the date of such separation from service. Any amount that is otherwise payable within the six-month period described herein will be aggregated and paid in a lump sum without interest. 

  
 17 

 (o)    No Guarantee of Tax Consequences. None of the Board, the
Committee, the Partnership, nor the General Partner makes any commitment or guarantee that any federal, state or local tax treatment will (or will not) apply or be available to any Participant. 

(p)    Clawback. The Plan and any Awards granted or paid hereunder are subject to any written clawback policies
that the General Partner, with the approval of the Board, may adopt or as may otherwise be required by applicable law or any applicable securities exchange listing standards. Any such policy may subject a Participant’s Awards and amounts paid
or realized with respect to Awards under the Plan and amounts paid or payable pursuant or with respect thereto to reduction, cancelation, forfeiture repurchase and/or recoupment if certain specified events or wrongful conduct occur, including but
not limited to an accounting restatement due to the Partnership’s material noncompliance with financial reporting regulations or other events or wrongful conduct specified in any such clawback policy, including those adopted to conform to the
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and rules promulgated thereunder by the Securities and Exchange Commission and that the General Partner determines should apply to the Plan. Notwithstanding any provision of the Plan
or any Award Agreement to the contrary, the General Partner reserves the right, without the consent of any Participant or beneficiary of any Award, to adopt any such clawback policies and procedures, including such policies and procedures applicable
to the Plan or any Award Agreement with retroactive effect. 
 9.    Term of the Plan. The Plan shall be effective on the date on
which it is adopted by the Board and shall continue until the earliest of (i) the date terminated by the Board, (ii) all Units available under the Plan have been delivered to Participants, or (iii) the 10th anniversary of the date the
Plan is adopted by the Board. However, any Award granted prior to such termination, and the authority of the Board or Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under
such Award, shall extend beyond such termination date. 

  
 18EX-4.2

 Exhibit 4.2 
  

 
  

BARCLAYS PLC, 
 Issuer, 

THE BANK OF NEW YORK MELLON, LONDON BRANCH, 

as Trustee 
 and 

THE BANK OF NEW YORK MELLON SA/NV, LUXEMBOURG BRANCH 

as Senior Debt Security Registrar 
  

 
 SECOND SUPPLEMENTAL INDENTURE 

Dated as of May 16, 2018 
  

 
 To the Senior Debt Securities
Indenture, dated as of January 17, 2018, 
 Between Barclays PLC 

and 
 The Bank of New York Mellon,
London Branch, as Trustee 
 $1,250,000,000 Principal Amount of 4.338%
Fixed-to-Floating Rate Senior Notes due 2024 
 $1,750,000,000
Principal Amount of 4.972% Fixed-to-Floating Rate Senior Notes due 2029 

$1,500,000,000 Principal Amount of Floating Rate Senior Notes due 2024 

 
  

 

 TABLE OF CONTENTS 

 

							
		  		 	 	Page	 
			
		  	ARTICLE I	 			
			
		  	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 			
			
	SECTION 1.01	  	Definitions	 	 	1	 
	SECTION 1.02	  	Effect of Headings	 	 	5	 
	SECTION 1.03	  	Separability Clause	 	 	5	 
	SECTION 1.04	  	Benefits of Instrument	 	 	5	 
	SECTION 1.05	  	Relation to Base Indenture	 	 	5	 
	SECTION 1.06	  	Construction and Interpretation	 	 	5	 
			
		  	ARTICLE II	 			
			
		  	 4.338% FIXED-TO-FLOATING RATE SENIOR NOTES DUE 2024

4.972% FIXED-TO-FLOATING RATE SENIOR NOTES DUE 2029

AND
 FLOATING RATE SENIOR
NOTES DUE 2024
	 			
			
	SECTION 2.01	  	Creation of Series; Establishment of Form	 	 	6	 
	SECTION 2.02	  	Interest	 	 	7	 
	SECTION 2.03	  	Payment of Principal, Interest and Other Amounts	 	 	7	 
	SECTION 2.04	  	Optional Redemption	 	 	8	 
	SECTION 2.05	  	Loss Absorption Disqualification Event Redemption	 	 	10	 
	SECTION 2.06	  	Events of Default Substitution	 	 	10	 
	SECTION 2.07	  	Enforcement Events and Remedies Following an Events of Default Substitution	 	 	10	 
	SECTION 2.08	  	Notice of Events of Default Substitution	 	 	12	 
	SECTION 2.09	  	Events of Default Substitution Certificate	 	 	12	 
	SECTION 2.10	  	Agreement with Respect to Enforcement Events and Remedies Following an Events of Default Substitution	 	 	12	 
	SECTION 2.11	  	Trustee’s Duties Following an Events of Default Substitution	 	 	12	 
	SECTION 2.12	  	Waiver of Certain Past Events of Default Following an Events of Default Substitution	 	 	12	 
	SECTION 2.13	  	Notice of Defaults Following an Events of Default Substitution	 	 	13	 
	SECTION 2.14	  	Applicability of the Term “Event of Default” Following an Events of Default Substitution	 	 	13	 
	SECTION 2.15	  	Certain Acts of Holders Following an Events of Default Substitution	 	 	13	 
	SECTION 2.16	  	Subsequent Holder’s Agreement	 	 	14	 
	SECTION 2.17	  	Notice of Redemption	 	 	14	 
	SECTION 2.18	  	Acknowledgement with respect to Treatment of EEA BRRD Liabilities	 	 	14	 
	SECTION 2.19	  	Acknowledgement with respect to Treatment of BRRD Liabilities	 	 	15	 

							
	 	  	 	 	Page	 
		  	ARTICLE III	 			
			
		  	MISCELLANEOUS PROVISIONS	 			
			
	 SECTION 3.01
	  	 Effectiveness
	 	 	16	 
	 SECTION 3.02
	  	 Original Issue
	 	 	16	 
	 SECTION 3.03
	  	 Ratification and Integral Part
	 	 	16	 
	 SECTION 3.04
	  	 Priority
	 	 	16	 
	 SECTION 3.05
	  	 Not Responsible for Recitals or Issuance of Securities
	 	 	16	 
	 SECTION 3.06
	  	 Successors and Assigns
	 	 	16	 
	 SECTION 3.07
	  	 Counterparts
	 	 	16	 
	 SECTION 3.08
	  	 Governing Law
	 	 	16	 

					
		
	 ANNEX I – Interest Terms of the Securities
	  	 	I-1	 
		
	 EXHIBIT A – Form of 2024
Fixed-to-Floating Rate Global Note
	  	 	A-1	 
	 EXHIBIT B – Form of 2029
Fixed-to-Floating Rate Global Note
	  	 	B-1	 
	 EXHIBIT C – Form of Floating Rate Global Note
	  	 	C-1	 

  
 - ii - 

 SECOND SUPPLEMENTAL INDENTURE, dated as of May 16, 2018 (the “Second Supplemental
Indenture”), among BARCLAYS PLC, a public limited company registered in England and Wales (herein called the “Company”), having its registered office at 1 Churchill Place, London E14 5HP, United Kingdom, THE BANK OF NEW
YORK MELLON, LONDON BRANCH, a New York banking corporation, as Trustee and Paying Agent (herein called the “Trustee”), having a Corporate Trust Office at One Canada Square, London E14 5AL, United Kingdom, and THE BANK OF NEW YORK
MELLON SA/NV, LUXEMBOURG BRANCH, as Senior Debt Security Registrar, having an office at 2-4 Rue Eugene Ruppert, Vertigo Building – Polaris, Luxembourg, 2453, Luxembourg, to the SENIOR DEBT SECURITIES
INDENTURE, dated as of January 17, 2018, between the Company and the Trustee (as heretofore amended and supplemented, the “Base Indenture” and, together with this Second Supplemental Indenture, the
“Indenture”). 
 RECITALS OF THE COMPANY 

WHEREAS, the Company and the Trustee are parties to the Base Indenture, which provides for the issuance by the Company from time to time of
its Senior Debt Securities in one or more series; 
 WHEREAS, Section 9.01 of the Base Indenture permits supplements thereto without
the consent of Holders of Senior Debt Securities to establish the form or terms of Senior Debt Securities of any series as permitted by Sections 2.01 and 3.01 of the Base Indenture; 

WHEREAS, as contemplated by Section 3.01 of the Base Indenture, the Company intends to issue three series of Senior Debt Securities to be
known as the Company’s “4.338% Fixed-to-Floating Rate Senior Notes due 2024” (the “2024 Fixed-to-Floating Rate Securities”), the Company’s “4.972% Fixed-to-Floating Rate Senior Notes due 2029”
(the “2029 Fixed-to-Floating Rate Securities” and, together with the 2024
Fixed-to-Floating Rate Securities, the “Fixed-to-Floating Rate
Securities”) and the Company’s “Floating Rate Senior Notes due 2024” (the “Floating Rate Securities” and, together with the
Fixed-to-Floating Rate Securities, the “Securities”) under the Indenture; 

WHEREAS, the Company has taken all necessary corporate action to authorize the execution and delivery of this Second Supplemental Indenture;

 NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Company and the Trustee mutually agree as follows with regard to the Securities: 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

SECTION 1.01    Definitions. Except as otherwise expressly provided or unless the context otherwise requires, all
terms used in this Second Supplemental Indenture that 

  
 - 1 - 

 
are defined in the Base Indenture shall have the meanings ascribed to them in the Base Indenture. The following terms used in this Second Supplemental Indenture have the following respective
meanings with respect to the Securities only: 
 “2024 Fixed-to-Floating Rate Par Redemption Date” has the meaning set forth in ANNEX I hereto. 

“2024 Fixed-to-Floating Rate
Securities” has the meaning set forth in the Recitals to this Second Supplemental Indenture. 
 “2024 Fixed-to-Floating Rate Securities Stated Maturity” has the meaning set forth in SECTION 2.01(g) hereof. 

“2029 Fixed-to-Floating Rate Par
Redemption Date” has the meaning set forth in ANNEX I hereto. 
 “2029 Fixed-to-Floating Rate Securities” has the meaning set forth in the Recitals to this Second Supplemental Indenture. 

“2029 Fixed-to-Floating Rate Securities
Stated Maturity” has the meaning set forth in SECTION 2.01(g) hereof. 

“Bail-in Legislation” has the meaning set forth in SECTION 2.18
hereof. 
 “Base Indenture” has the meaning set forth in the first paragraph of this Second Supplemental
Indenture. 
 “BRRD” has the meaning set forth in SECTION 2.18 hereof. 

“BRRD Party” has the meaning set forth in SECTION 2.18 hereof. 

“Business Day” means any weekday, other than one on which banking institutions are authorized or obligated by
law, regulation or executive order to close in London, England or in New York City. 
 “Capital Regulations”
means, at any time, the laws, regulations, requirements, standards, guidelines and policies relating to capital adequacy and/or minimum requirement for own funds and eligible liabilities and/or loss absorbing capacity of credit institutions of
either (i) the PRA and/or (ii) any other national or European authority, in each case then in effect in the United Kingdom (or in such other jurisdiction in which the Company may be organized or domiciled) and applicable to the Group
including, as at the date hereof, CRD IV and related technical standards. 
 “Company” has the meaning set
forth in the first paragraph of this Second Supplemental Indenture, and includes any successor entity. 
 “Comparable
Treasury Issue” has the meaning set forth in SECTION 2.04 hereof. 
 “Comparable Treasury Price”
has the meaning set forth in SECTION 2.04 hereof. 

  
 - 2 - 

 “CRD IV” means the legislative package consisting of Directive
2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, as the same may be amended or replaced from time to time, and the CRD IV Regulation. 

“CRD IV Regulation” means Regulation (EU) No. 575/2013 on prudential requirements for credit institutions
and investment firms of the European Parliament and of the Council of June 26, 2013, as the same may be amended or replaced from time to time. 

“Determination Agent” has the meaning set forth in SECTION 2.04 hereof. 

“EEA Bail-in Power” has the meaning set forth in SECTION 2.18 hereof.

 “EEA BRRD Liability” has the meaning set forth in SECTION 2.18 hereof. 

“EU Bail-in Legislation Schedule” has the meaning set forth in SECTION
2.18 hereof. 
 “Fixed Rate Interest Payment Date” has the meaning set forth in ANNEX I hereto. 

“Fixed-to-Floating Rate Par Redemption
Date” means each of the 2024 Fixed-to-Floating Rate Par Redemption Date and the 2029
Fixed-to-Floating Rate Par Redemption Date. 

“Fixed-to-Floating Rate
Securities” has the meaning set forth in the Recitals to this Second Supplemental Indenture. 
 “Floating
Rate Securities” has the meaning set forth in the Recitals to this Second Supplemental Indenture. 

“Floating Rate Securities Stated Maturity” has the meaning set forth in SECTION 2.01(g) hereof. 

“Indenture” has the meaning set forth in the first paragraph of this Second Supplemental Indenture. 

“Interest Payment Date” has the meaning set forth in ANNEX I hereto. 

“Issue Date” has the meaning set forth in SECTION 2.01(f) hereof. 

“Loss Absorption Disqualification Event” with respect to a series of securities means the whole or any part of
the principal amount of the Securities Outstanding of such series at any time being excluded from or ceasing to count towards the Company’s and/or the Group’s own funds and eligible liabilities and/or loss absorbing capacity, in each case
for the purposes of, and in accordance with, the relevant Capital Regulations, provided that a Loss Absorption Disqualification Event shall not occur if such whole or part of the 

  
 - 3 - 

 
principal amount of the Securities Outstanding of such series is excluded from, or ceases to count towards, such own funds and eligible liabilities and/or loss absorbing capacity due to the
remaining maturity of the Securities of such series being less than one year. 
 “Loss Absorption Regulations
Event” means that (i) any Capital Regulations become effective with respect to the Company and/or the Group or (ii) there is an amendment to, or change in, any Capital Regulations, or any change in the official application of any
Capital Regulations that becomes effective with respect to the Company and/or the Group. 
 “Make-Whole
Redemption” has the meaning set forth in SECTION 2.04 hereof. 
 “Monetary Judgment” has the
meaning set forth in SECTION 2.07(c) hereof. 
 “Par Redemption” has the meaning set forth in SECTION 2.04
hereof. 
 “Non-Payment Event” has the meaning set forth in SECTION
2.07(b) hereof. 
 “Performance Obligation” has the meaning set forth in SECTION 2.07(c) hereof. 

“Reference Treasury Dealer” has the meaning set forth in SECTION 2.04 hereof. 

“Reference Treasury Dealer Quotations” has the meaning set forth in SECTION 2.04 hereof. 

“Regular Record Date” means the close of business on the Business Day immediately preceding each Interest
Payment Date (or, if the Securities of the applicable series are held in definitive form, the 15th Business Day preceding each Interest Payment Date). 

“Relevant EEA Resolution Authority” has the meaning set forth in SECTION 2.18 hereof. 

“Second Supplemental Indenture” has the meaning set forth in the first paragraph of this Second Supplemental
Indenture. 
 “Securities” has the meaning set forth in the Recitals to this Second Supplemental Indenture.

 “Senior Enforcement Event” has the meaning set forth in SECTION 2.11 hereof. 

“Stated Maturity” has the meaning set forth in SECTION 2.01(g) hereof. 

“Treasury Rate” has the meaning set forth in SECTION 2.04 hereof. 

“Trustee” has the meaning set forth in the first paragraph of this Second Supplemental Indenture, and includes
any successor entity. 

  
 - 4 - 

 A “Winding-Up Event”
with respect to the Securities shall result if (i) a court of competent jurisdiction in England (or such other jurisdiction in which the Company may be organized) makes an order for the Company’s
winding-up which is not successfully appealed within thirty (30) days of the making of such order, (ii) the Company’s shareholders adopt an effective resolution for the Company’s winding-up (other than, in the case of either (i) or (ii) above, under or in connection with a scheme of reconstruction, merger or amalgamation not involving a bankruptcy or insolvency) or (iii) following
the appointment of an administrator of the Company, the administrator gives notice that it intends to declare and distribute a dividend. 

SECTION 1.02    Effect of Headings. The Article and Section headings herein are for convenience only and shall not
affect the construction hereof. 
 SECTION 1.03    Separability Clause. In case any provision in this Second
Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 1.04    Benefits of Instrument. Nothing in this Second Supplemental Indenture, express or implied, shall
give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under the Indenture. 

SECTION 1.05    Relation to Base Indenture. This Second Supplemental Indenture constitutes an integral part of the
Indenture. Notwithstanding any other provision of this Second Supplemental Indenture, all provisions of this Second Supplemental Indenture are expressly and solely for the benefit of the Holders of the Securities and the Trustee and any such
provisions shall not be deemed to apply to any other Senior Debt Securities issued under the Base Indenture and shall not be deemed to amend, modify or supplement the Base Indenture for any purpose other than with respect to the Securities. 

SECTION 1.06    Construction and Interpretation. Unless the context otherwise requires: 

(a)    the words “hereof”, “herein” and “hereunder” and words of similar import, when used
in this Second Supplemental Indenture, refer to this Second Supplemental Indenture as a whole and not to any particular provision of this Second Supplemental Indenture; 

(b)    the terms defined in the singular have a comparable meaning when used in the plural, and vice versa; 

(c)    the terms “U.S. dollars,” “US$” and “$” refer to the lawful currency for the time
being of the United States; 
 (d)    references herein to a specific Section, Article or Exhibit refer to Sections or
Articles of, or an Exhibit to, this Second Supplemental Indenture; 

  
 - 5 - 

 (e)    wherever the words “include”, “includes” or
“including” are used in this Second Supplemental Indenture, they shall be deemed to be followed by the words “without limitation;” 

(f)    references to a Person are also to its successors and permitted assigns; and 

(g)    the use of “or” is not intended to be exclusive unless expressly indicated otherwise. 

ARTICLE II 
 4.338% FIXED-TO-FLOATING RATE SENIOR NOTES DUE 2024 
 4.972% FIXED-TO-FLOATING RATE SENIOR NOTES DUE 2029 
 AND 

FLOATING RATE SENIOR NOTES DUE 2024 

SECTION 2.01    Creation of Series; Establishment of Form. 

(a)    There is hereby established three series of Senior Debt Securities under the Base Indenture entitled the
“4.338% Fixed-to-Floating Rate Senior Notes due 2024”, the “4.972%
Fixed-to-Floating Rate Senior Notes due 2029” and the “Floating Rate Senior Notes due 2024.” 

(b)    The Securities of each series shall be issued initially in the form of one or more registered Global Securities
that shall be deposited with the Common Depositary on the Issue Date. The Global Securities shall be initially registered in the name of The Bank of New York Depository (Nominees) Limited, a nominee of the Common Depositary, and executed and issued
in substantially the forms attached hereto as Exhibit A, Exhibit B and Exhibit C. 

(c)    The Company shall issue the 2024
Fixed-to-Floating Rate Securities in an aggregate principal amount of $1,250,000,000. The Company shall issue the 2029 Fixed-to-Floating Rate Securities in an aggregate principal amount of $1,750,000,000. The Company shall issue the Floating Rate Securities in an aggregate principal amount of $1,500,000,000. The Company may
from time to time, without the consent of the Holders of the Securities of each series, issue additional securities of such series having the same ranking and same interest rate, Stated Maturity, redemption terms and other terms as the Securities of
such series described in this Second Supplemental Indenture, except for the price to the public and date of issue. Any such additional securities subsequently issued shall rank equally and ratably with the Securities of such series in all respects,
so that such further securities shall be consolidated and form a single series with the applicable series of the Securities. 

(d)    Any proposed transfer of an interest in Securities held in the form of a Global Security deposited with the Common
Depositary shall be effected or on behalf of DTC shall be effected through the book-entry system maintained by DTC. 

(e)    The Securities shall not have a sinking fund. 

(f)    The Securities shall be issued on May 16, 2018 (the “Issue Date”). 

  
 - 6 - 

 (g)    The stated maturity of the principal of the 2024 Fixed-to-Floating Rate Securities shall be May 16, 2024 (the “2024
Fixed-to-Floating Rate Securities Stated Maturity”), the stated maturity of the principal of the 2029 Fixed-to-Floating Rate Securities shall be May 16, 2029 (the “2029 Fixed-to-Floating Rate Securities Stated
Maturity”) and the stated maturity of the principal of the Floating Rate Securities shall be May 16, 2024(the “Floating Rate Securities Stated Maturity” and, together with the “2024
Fixed-to-Floating Rate Securities Stated Maturity” and the “2029
Fixed-to-Floating Rate Securities Stated Maturity” each a “Stated Maturity”). 

(h)    The Securities of each series shall be redeemable prior to their respective Stated Maturity in accordance with
SECTION 2.04 hereof. 
 (i)    The Securities shall be issued in minimum denominations of $200,000 in principal amount
and integral multiples of $1,000 in excess thereof. 
 (j)    Section 11.09 of the Base Indenture shall apply to the
Securities. 
 (k)    The Securities shall constitute the Company’s direct, unconditional, unsecured and
unsubordinated obligations and shall at all times rank pari passu without any preference among themselves. In the event of a winding-up or administration of the Company, the Securities shall rank pari passu
with all other outstanding unsecured and unsubordinated obligations of the Company, present and future, except such obligations as are preferred by operation of law. 

SECTION 2.02    Interest. 

(a)    The interest rate on the 2024
Fixed-to-Floating Rate Securities, the interest rate on the 2029 Fixed-to-Floating Rate
Securities and the interest rate on the Floating Rate Securities shall be, or shall be determined, as set forth in Annex I hereto. 

(b)    The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided
in the Indenture, be paid to the Person in whose name the relevant Security (or any Predecessor Security) is registered at the close of business on the Regular Record Date for such interest. 

SECTION 2.03    Payment of Principal, Interest and Other Amounts 

(a)    Payments of principal of and interest on the Securities shall be made in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts and such payments on Securities represented by a Global Security shall be made through one or more Paying Agents appointed under the Base Indenture to DTC
or its nominee, as the Holder or Holders of the Global Security. Initially, the Paying Agent for the Securities shall be The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom and the Place of Payment in
respect of the Securities shall be the Corporate Trust Office of the Trustee, which as of the date hereof is hereby designated for purposes of the Securities initially as the office or agency of the Trustee located at said address. Initially, the
Senior Debt Security Registrar for the Securities shall be The Bank of New York Mellon SA/NV, Luxembourg Branch, 2-4 Rue Eugene Ruppert, Vertigo Building –

  
 - 7 - 

 
Polaris, Luxembourg, 2453, Luxembourg (which location shall also be a Place of Payment for purposes of Section 3.05(a) of the Base Indenture). The Company at any time and from time to time
may change the Paying Agent or, subject to Section 9.01 of the Base Indenture, the Place of Payment, and the Senior Debt Security Registrar without prior notice to the Holders of the Securities, and in such an event the Company may act as
Paying Agent or Senior Debt Security Registrar. Payments of principal of and interest on the Securities represented by a Global Security shall be made by wire transfer of immediately available funds; provided, however, that in the case
of payments of principal, such Global Security is first surrendered to the Paying Agent. If a date of redemption or repayment or the Stated Maturity is not a Business Day, the Company may pay interest and principal on the next succeeding Business
Day, but interest on that payment will not accrue during the period from and after the date of redemption or repayment or such Stated Maturity. 

SECTION 2.04    Optional Redemption. Subject to the notice period and provisions set forth in Sections 11.02 and
11.04 of the Base Indenture and in Section 2.17 of this Second Supplemental Indenture, and to the conditions set forth in Section 11.10 of the Base Indenture, the Company may redeem, at its option (A) each series of the Fixed-to-Floating Rate Securities at any time outstanding, in whole or in part, at any time on or after November 16, 2018 (six months following the Issue Date and, if any
additional Fixed-to-Floating Rate Securities of either series are issued after the Issue Date, except for the period of six months beginning on the issue date for any
additional Fixed-to-Floating Rate Securities of the applicable series) until (but excluding) the applicable Fixed-to-Floating Rate Par Redemption Date, at an amount equal to the higher of (i) 100% of the principal amount of the
Fixed-to-Floating Rate Securities to be redeemed and (ii) as determined by the Determination Agent, the sum of the present values of the principal (discounted from
the applicable Fixed-to-Floating Rate Par Redemption Date) and remaining payments of interest to be made on any scheduled Fixed Rate Interest Payment Date to the
applicable Fixed-to-Floating Rate Par Redemption Date on the Fixed-to-Floating Rate
Securities of such series to be redeemed (not including accrued but unpaid interest, if any, on the principal amount of the Fixed-to-Floating Rate Securities of such
series) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus (x) 25 basis
points in the case of the 2024 Fixed-to-Floating Rate Securities or (y) 30 basis points in the case of the 2029 Fixed-to-Floating Rate Securities, together with, in either case of (i) or (ii) above, accrued but unpaid interest, if any, on the principal amount of the Fixed-to-Floating Rate Securities to be redeemed to (but excluding) the Redemption Date (the “Make-Whole Redemption”) and/or (B) each series of the Fixed-to-Floating Rate Securities and/or Floating Rate Securities then outstanding, in whole but not in part of such series, on the applicable
Fixed-to-Floating Rate Par Redemption Date, for the Fixed-to-Floating Rate Securities and
May 16, 2023, for the Floating Rate Securities, at an amount equal to 100% of their principal amount together with accrued but unpaid interest, if any, on the principal amount of the Securities to be redeemed to (but excluding) the respective
Redemption Date (the “Par Redemption”). 
 “Treasury Rate” means, with respect to any
Redemption Date, the rate per annum equal to: (1) the yield, under the heading which represents the average for the week immediately prior to the calculation date, appearing in the most recently published statistical release designated
“H.15”, or any successor publication that is published by the Board of Governors of the Federal Reserve System that establishes yields on actively 

  
 - 8 - 

 
traded U.S. Treasury securities adjusted to constant maturity, under the caption “Treasury Constant Maturities”, for the maturity most closely corresponding to the Fixed-to-Floating Rate Par Redemption Date of the Securities being redeemed (if no maturity is within three months before or after the Fixed-to-Floating Rate Par Redemption Date of the Securities to be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the
Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding to the nearest month); or (2) if such release (or any successor release) is not published during the week immediately prior to the
calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date; provided that, if the period from the Redemption Date to the applicable
Fixed-to-Floating Rate Par Redemption Date is less than one year, the weekly average yield on actually traded U.S. Treasury securities adjusted to a constant maturity of
one year will be used. 
 The Treasury Rate shall be calculated by the Determination Agent on the third Business Day preceding the Redemption Date. 

In determining the Treasury Rate, the below terms will have the following meaning: 

“Comparable Treasury Issue” means, with respect to any Redemption Date, the U.S. Treasury security selected by
the Determination Agent as having an actual or interpolated maturity comparable with the remaining term to the Fixed-to-Floating Rate Par Redemption Date of the relevant
Securities that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities denominated in U.S. dollars and of comparable maturity to the remaining term to the Fixed-to-Floating Rate Par Redemption Date of the relevant Securities. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the arithmetic average of the
Reference Treasury Dealer Quotations for such Redemption Date (calculated on the third Business Day preceding such Redemption Date), after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if fewer than five
such Reference Treasury Dealer Quotations are received, the arithmetic average of all such quotations, or (iii) if fewer than two such Reference Treasury Dealer Quotations are received, then such Reference Treasury Dealer Quotation as quoted in
writing to the Determination Agent by a Reference Treasury Dealer. 
 “Determination Agent” means an
investment bank or financial institution of international standing selected by the Company and which may be an affiliate of the Company. 

“Reference Treasury Dealer” means each of up to five banks selected by the Company (following, where
practicable, consultation with the Determination Agent, if applicable), or the affiliates of such banks, which are (i) primary U.S. government securities dealers, and their respective successors, or (ii) market makers in pricing corporate
bond issues. 

  
 - 9 - 

 “Reference Treasury Dealer Quotations” means, with respect to
each Reference Treasury Dealer and any Redemption Date, the arithmetic average, as determined by the Determination Agent, of the bid and offered prices for the applicable Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) at 11:00 a.m., New York time, on the third Business Day preceding such Redemption Date. 
 Unless the Company defaults on payment of the
Redemption Price, interest will cease to accrue on the Redemption Date on the Securities or portions thereof called for redemption. The Trustee has no responsibility for any calculation or determination in respect of the establishment of the
Make-Whole Redemption price and shall be entitled to receive and rely conclusively upon an Officer’s Certificate executed in accordance with the Base Indenture that states the Make-Whole Redemption price. 

SECTION 2.05    Loss Absorption Disqualification Event Redemption. If a Loss Absorption Regulations Event occurs on
or after the Issue Date that does, or would be likely to (in the opinion of the Company, the PRA or any other relevant national or European authority), result in a Loss Absorption Disqualification Event, the Company may, at the Company’s
option, at any time, redeem the Securities of any or all series, in whole but not in part, at a Redemption Price equal to 100% of the principal amount of the Securities being redeemed together with accrued but unpaid interest, if any, on the
principal amount of the Securities to be redeemed to (but excluding) the relevant Redemption Date, as applicable, provided that such Loss Absorption Disqualification Event cannot be avoided by the Company exercising its option to cause an
Events of Default Substitution in accordance with SECTION 2.06 hereof. For the avoidance of doubt, except as otherwise set forth in this Second Supplemental Indenture, Article 11 of the Base Indenture shall apply to any redemption of Securities
pursuant to this SECTION 2.05. 
 SECTION 2.06    Events of Default Substitution. If the inclusion of any of the
“Events of Default” set forth in Section 5.01 of the Base Indenture in the terms of the Securities of a series does, or would be likely to (in the opinion of the Company, the PRA or any other relevant national or European authority),
result in a Loss Absorption Disqualification Event following a Loss Absorption Regulations Event that occurs on or after the Issue Date, then the Company may, at the Company’s option, without the need for the Company to obtain any consent from
any Holders of the Securities, determine that the terms of Sections 5.01, 5.02 and 5.03 (except for Sections 5.03(c) and 5.03(f)) of the Base Indenture shall cease to apply to the Securities of such series and shall be replaced in their entirety by
the enforcement events and remedies set forth in SECTION 2.07 hereof. 
 SECTION 2.07    Enforcement Events and
Remedies Following an Events of Default Substitution 
 (a)    If a Winding-Up Event occurs, the principal amount of
the Outstanding Securities of a series, together with any accrued but unpaid interest thereon, shall become immediately due and payable, without the need of any further action on the part of the Trustee, the Holders or any other Person. 

  
 - 10 - 

 (b)    If the Company fails to pay any amount that has become due and payable
under the Securities of a series and such failure continues for fourteen (14) days, the Trustee may provide a written notice of such failure to the Company. If within a period of fourteen (14) days following the provision of such notice,
the failure continues and has not been cured nor waived (a “Non-Payment Event”), the Trustee may at its discretion and without further notice to the Company institute proceedings in England
(or such other jurisdiction in which the Company may be organized) (but not elsewhere) for the Company’s winding-up and/or prove in the Company’s winding-up
and/or claim in the Company’s liquidation or administration. 
 (c)    In addition to the remedies for a Non-Payment Event provided in SECTION 2.07(b) hereof, the Trustee may, without further notice, institute such proceedings against the Company as the Trustee may deem fit to enforce any term, obligation or condition
binding on the Company under the Securities or the Indenture (other than any payment obligation of the Company under or arising from the Securities or the Indenture, including, without limitation, payment of any principal or interest, including
Additional Amounts) (such obligation, a “Performance Obligation”); provided always that the Trustee (acting on behalf of the Holders and Beneficial Owners of the Securities) and the Holders and Beneficial Owners of the
Securities may not enforce, and may not be entitled to enforce or otherwise claim, against the Company any judgment or other award given in such proceedings that requires the payment of money by the Company, whether by way of damages or otherwise (a
“Monetary Judgment”), except by proving such Monetary Judgment in the Company’s winding-up and/or by claiming such Monetary Judgment in the Company’s administration. 

(d)    By its acquisition of the Securities, each Holder and Beneficial Owner of the Securities acknowledges and agrees
that such Holder and Beneficial Owner shall not seek to enforce or otherwise claim, and shall not direct the Trustee (acting on behalf of the Holders and Beneficial Owners of the Securities) to enforce or otherwise claim, a Monetary Judgment against
the Company in connection with the Company’s breach of a Performance Obligation, except by proving such Monetary Judgment in the Company’s winding-up and/or by claiming such Monetary Judgment in the
Company’s administration. 
 (e)    Other than the limited remedies specified in this SECTION 2.07 and subject to
SECTION 2.07(f) hereof, following an Events of Default Substitution with respect to a series no remedy against the Company shall be available to the Trustee (acting on behalf of the Holders and Beneficial Owners of the Securities) or the Holders and
Beneficial Owners of the Securities of such series whether for the recovery of amounts owing in respect of such Securities or under the Indenture or in respect of any breach by the Company of any of the Company’s obligations under or in respect
of the terms of such Securities or under the Indenture in relation thereto; provided, however, that the Company’s obligations to, and rights of, the Trustee under Section 6.07 of the Base Indenture and the Trustee’s
rights to have money collected applied first to pay amounts due to it under such Section pursuant to Section 5.06 of the Base Indenture expressly survive any such Events of Default Substitution and any Senior Enforcement Event. 

  
 - 11 - 

 (f)    Notwithstanding the limitation on remedies specified in this SECTION
2.07, (1) the Trustee shall have such powers as are required to be authorized to it under the Trust Indenture Act in respect of the rights of the Holders of the Securities under the provisions of the Indenture and (2) nothing shall impair the
right of a Holder of the Securities under the Trust Indenture Act, absent such Holder’s consent, to sue for any payment due but unpaid with respect to the Securities. No Holder of Securities shall be entitled to proceed directly against the
Company except as described in Section 5.07 of the Base Indenture. 
 SECTION 2.08    Notice of Events of
Default Substitution. Any Events of Default Substitution shall be subject to the Company’s giving prior notice to the Trustee and to the Holders of the Securities via DTC or the relevant clearing system(s) (or, if the Securities are held in
definitive form, to the Holders at their addresses shown on the register for the Securities) (such notice being irrevocable) specifying the Company’s election to cause an Events of Default Substitution and the effective date of such Events of
Default Substitution. 
 SECTION 2.09    Events of Default Substitution Certificate. Prior to giving the notice
described in SECTION 2.08 hereof, the Company shall deliver to the Trustee an Officer’s Certificate stating that the Company is entitled to elect to cause an Events of Default Substitution in accordance with SECTION 2.06 hereof. Such
Officer’s Certificate shall be treated by the Company, the Trustee, the Holders and all other interested parties as correct and sufficient evidence thereof. 

SECTION 2.10    Agreement with Respect to Enforcement Events and Remedies Following an Events of Default
Substitution. By its acquisition of the Securities, each Holder and Beneficial Owner of the Securities acknowledges, accepts, agrees to be bound by, and consents to, the substitution of Sections 5.01, 5.02 and 5.03 (except for Sections 5.03(c)
and 5.03(f)) of the Base Indenture with SECTION 2.07 hereof on the occurrence of an Events of Default Substitution in accordance with SECTION 2.06 hereof, at the Company’s option, without the need for the Company to obtain any consent from such
Holder or Beneficial Owner. 
 SECTION 2.11    Trustee’s Duties Following an Events of Default Substitution.
In case of a Senior Enforcement Event with respect to a series of Securities, the Trustee shall with respect to such series exercise such of the rights and powers vested in it by the Indenture, and use the same degree of care and skill in their
exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. For these purposes, a “Senior Enforcement Event” shall occur (i) upon the occurrence of a Winding-Up Event, (ii) upon the occurrence of a Non-Payment Event or (iii) upon a breach by the Company of a Performance Obligation with respect to the Securities.

 SECTION 2.12    Waiver of Certain Past Events of Default Following an Events of Default Substitution. For
purposes of the Base Indenture following an Events of Default Substitution with respect to a series of Securities, Section 5.13 of the Base Indenture shall be replaced in its entirety by the following: 

“(a)    Holders of not less than a majority in aggregate principal amount of the Outstanding Senior
Debt Securities of any series may on behalf of the Holders of all of the Senior Debt Securities of such series waive any past Event of Default that results 

  
 - 12 - 

 
from a breach by the Company of a Performance Obligation. Holders of a majority of the aggregate principal amount of the Outstanding Senior Debt Securities of such series shall not be entitled to
waive any past Event of Default that results from a Winding-Up Event or a Non-Payment Event. 

(b)    Upon the occurrence of any waiver permitted by paragraph (a) above, such Event of Default shall
cease to exist, and any Event of Default with respect to any series arising therefrom shall be deemed to have been cured and not to have occurred for every purpose of this Senior Debt Securities Indenture, but no such waiver shall extend to any
subsequent or other Event of Default or impair any right consequent thereon.” 
 SECTION 2.13    Notice of
Defaults Following an Events of Default Substitution. For purposes of the Base Indenture following an Events of Default Substitution, Section 6.02 of the Base Indenture shall be replaced in its entirety by the following: 

“Within ninety (90) days after the occurrence of any Event of Default hereunder with respect to Senior Debt
Securities of any series, the Trustee shall transmit in the manner and to the extent provided in Section 1.06 to Holders of Senior Debt Securities of such series notice of such Event of Default hereunder actually known to the Trustee, unless
such Event of Default shall have been cured or waived; provided, however, that the Trustee shall be protected in withholding such notice if a trust committee of Responsible Officers of the Trustee determine in good faith that the
withholding of such notice is in the interest of the Holders of Senior Debt Securities of such series.” 
 SECTION
2.14    Applicability of the Term “Event of Default” Following an Events of Default Substitution. For purposes of the Base Indenture following an Events of Default Substitution, “Event of Default” shall
mean “Senior Enforcement Event” as defined in this Second Supplemental Indenture, except that the term “Event of Default” as used in Sections 3.05(c)(ii) and 6.07 of the Base Indenture and Article 8 of the Base Indenture shall
mean “Winding-Up Event.” 
 SECTION 2.15    Certain Acts of Holders
Following an Events of Default Substitution. For purposes of the Base Indenture following an Events of Default Substitution, Section 1.04(d) of the Base Indenture shall be replaced in its entirety by the following: 

“Upon receipt by the Trustee from any Holder of Senior Debt Securities of a particular series of any direction referred to
in Section 5.12 with respect to Senior Debt Securities of such series, if the Trustee shall not have taken the action specified in such direction, then the Trustee may set a record date for determining the Holders of Outstanding Senior Debt
Securities of such series entitled to join in such direction. The Trustee will notify the Company and the Holders of Outstanding Senior Debt Securities of such series of any such record date so fixed. The Holders of Outstanding Senior Debt
Securities of such series as of the close of business on such record date, and no other Holders, shall be entitled to join in such direction, whether or not such Holders remain Holders after such record date.” 

  
 - 13 - 

 SECTION 2.16    Subsequent Holder’s
Agreement. For purposes of Article 13 of the Base Indenture, the acknowledgment and agreement of each Holder and Beneficial Owner of the Securities set forth therein shall also include, without limitation, an acknowledgment and agreement in
relation to the provisions contained in SECTION 2.10 hereof. 
 SECTION 2.17    Notice of Redemption. 

(a)    Before the Company may redeem the Securities of a series pursuant to SECTION 2.04 or SECTION 2.05 hereof or
pursuant to Section 11.09 of the Base Indenture, the Company shall deliver via DTC or the relevant clearing system(s) (or, if the Securities are definitive Securities, to the Holders at their addresses shown on the register for the Securities)
prior notice of not less than fifteen (15) days, nor more than sixty (60) days, to the Holders of the Securities of such series. The Company shall deliver written notice of such redemption of the Securities to the Trustee at least five
(5) Business Days prior to the date on which the relevant notice of redemption is sent to Holders (unless a shorter notice period shall be satisfactory to the Trustee). Such notice shall specify the Company’s election to redeem the
Securities and the date fixed for such redemption and shall be irrevocable except in the limited circumstances described in paragraphs (b) below. 

(b)    If the Company has delivered a notice of redemption pursuant to paragraph (a) of this Section 2.17, but
prior to the payment of the redemption amount with respect to such redemption the Relevant U.K. Resolution Authority exercises its U.K. Bail-in Power with respect to the Securities, such redemption notice
shall be automatically rescinded and shall be of no force and effect, and no payment in respect of the redemption amount shall be due and payable. 

(c)    If any event specified in paragraph (b) above occurs, the Company shall promptly deliver notice to the Holders
of the Securities via DTC or the relevant clearing system(s) (or, if the Securities are definitive Securities, to the Holders at their addresses shown on the shown on the register for the Securities) and to the Trustee directly, specifying the
occurrence of the relevant event. 
 SECTION 2.18    Acknowledgement with respect to Treatment of EEA BRRD
Liabilities. Notwithstanding and to the exclusion of any other term of the Indenture, this Second Supplemental Indenture or any other agreements, arrangements, or understanding between the BRRD Party, on the one hand, and the Company, on the
other hand, the Company acknowledges and accepts that an EEA BRRD Liability arising under the Indenture and this Second Supplemental Indenture may be subject to the exercise of EEA Bail-in Powers by the
Relevant EEA Resolution Authority, and acknowledges, accepts, and agrees to be bound by: 
 (a)    the effect of the
exercise of EEA Bail-in Powers by the Relevant EEA Resolution Authority in relation to any EEA BRRD Liability that (without limitation) may include and result in any of the following, or some combination
thereof: 
 (i)    the reduction of all, or a portion, of the EEA BRRD Liability or outstanding amounts
due thereon; 

  
 - 14 - 

 (ii)    the conversion of all, or a portion, of the EEA BRRD
Liability into shares, other securities or other obligations of the BRRD Party or another person, and the issue to or conferral on the Company of such shares, securities or obligations; 

(iii)    the cancellation of the EEA BRRD Liability; or 

(iv)    the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on
which any payments are due including by suspending payment for a temporary period. 
 (b)    the variation of the terms
of the Indenture or this Second Supplemental Indenture, as deemed necessary by the Relevant EEA Resolution Authority, to give effect to the exercise of EEA Bail-in Powers by the Relevant EEA Resolution
Authority in respect of the BRRD Party. 
 For these purposes: 

“Bail-in Legislation” means in relation to a member state of the European Economic
Area or the United Kingdom which has implemented, or which at any time implements, the BRRD, the relevant implementing law, regulation, rule or requirement as described in the EU Bail-in Legislation Schedule
from time to time. 
 “BRRD” means Directive 2014/59/EU establishing a framework for the recovery and resolution of credit
institutions and investment firms. 
 “BRRD Party” means The Bank of New York Mellon SA/NV, Luxembourg Branch, solely and
exclusively in its role as Senior Debt Security Registrar under the Indenture and this Second Supplemental Indenture. For the avoidance of doubt, The Bank of New York Mellon, London Branch, as Trustee and Paying Agent and in any other capacity under
the Indenture or this Second Supplemental Indenture is not a BRRD Party under the Indenture or this Second Supplemental Indenture. 

“EEA Bail-in Power” means any Write-down and Conversion Powers as defined in the EU Bail-in Legislation Schedule, in relation to the relevant Bail-in Legislation. 

“EEA BRRD Liability” means a liability of the BRRD Party to the Company under the Indenture or this Second Supplemental
Indenture, if any, in respect of which the EEA Bail-in Power may be exercised. 
 “EU Bail-in Legislation Schedule” means the document described as such, then in effect, and published by the Loan Market Association (or any successor person) from time to time at http://www.lma.eu.com. 

“Relevant EEA Resolution Authority” means the resolution authority with the ability to exercise any EEA Bail-in Powers in relation to the BRRD Party. 
 SECTION 2.19    Acknowledgement
with Respect to Treatment of BRRD Liabilities. Any references to the “Trustee” in Article 12.02 of the Base Indenture shall be deemed to refer to the Trustee and The Bank of New York Mellon SA/NV, Luxembourg Branch. 

  
 - 15 - 

 ARTICLE III 

MISCELLANEOUS PROVISIONS 

SECTION 3.01    Effectiveness. This Second Supplemental Indenture shall become effective upon its execution
and delivery. 
 SECTION 3.02    Original Issue. The Securities may, upon execution of this Second
Supplemental Indenture, be executed by the Company and delivered by the Company to the Trustee for authentication, and the Trustee shall, upon a Company Order, authenticate and deliver such Securities as in such Company Order provided. 

SECTION 3.03    Ratification and Integral Part. The Base Indenture as supplemented by this Second
Supplemental Indenture, is in all respects ratified and confirmed, including without limitation all the rights, immunities and indemnities of the Trustee, and this Second Supplemental Indenture shall be deemed an integral part of the Base Indenture
in the manner and to the extent herein and therein provided. 
 SECTION 3.04    Priority. This Second
Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. The provisions of this Second Supplemental Indenture shall, with respect to the Securities and subject to the terms hereof,
supersede the provisions of the Base Indenture to the extent the Base Indenture is inconsistent herewith. 
 SECTION
3.05    Not Responsible for Recitals or Issuance of Securities. The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, shall be taken as the statements of
the Company, and neither the Trustee nor any authenticating agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Second Supplemental Indenture or of the Securities,
except that the Trustee represents and warrants that it has duly authorized, executed and delivered this Second Supplemental Indenture. Neither the Trustee nor any authenticating agent shall be accountable for the use or application by the Company
of the Securities or the proceeds thereof. 
 SECTION 3.06    Successors and Assigns. All covenants and
agreements in the Base Indenture, as supplemented and amended by this Second Supplemental Indenture, by the Company shall bind its successors and assigns, whether so expressed or not. 

SECTION 3.07    Counterparts. This Second Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

SECTION 3.08    Governing Law. This Second Supplemental Indenture and the Securities shall be governed by
and construed in accordance with the laws of the State of New York, except for the waiver of set-off provisions set forth in Section 5.03(c) of the Base Indenture, which shall be governed by and construed
in accordance with English law, and except that the authorization and execution of this Second Supplemental Indenture and the Securities shall be governed (in addition to the laws of the State of New York relevant to execution) by the respective
jurisdictions of organization of the Company and the Trustee, as the case may be. 
 [Signature Page Follows] 

  
 - 16 - 

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

			
	 BARCLAYS PLC
  

	By:	 	 /s/ Stuart Frith

		 	Name: Stuart Frith
		 	Title:   Vice President, Treasury

  

			
	 THE BANK OF NEW
YORK MELLON, LONDON BRANCH, AS TRUSTEE AND PAYING AGENT

 

	By:	 	 /s/ Marco Thuo

		 	Name: Marco Thuo
		 	Title:   Vice President

  

			
	 THE BANK OF NEW
YORK MELLON SA/NV, LUXEMBOURG BRANCH, AS SENIOR DEBT SECURITY REGISTRAR

 

	By:	 	 /s/ Marco Thuo

		 	Name: Marco Thuo
		 	Title:   Vice President

  
 [Signature Page to
Second Supplemental Indenture] 

 ANNEX I 

Interest Terms of the Securities 

Interest Terms of the 2024 Fixed-to-Floating Rate Securities 

 

	 2024 Fixed Rate Period: 
	From (and including) the Issue Date, to (but excluding) May 16, 2023 (the “2024 Fixed-to-Floating Rate Securities Par Redemption Date”).

  

	 2024 Floating Rate Period: 
	From (and including) the 2024 Fixed-to-Floating Rate Securities Par Redemption Date, to (but excluding) the 2024 Fixed-to-Floating Rate Securities Stated Maturity. 

  

	 2024 Fixed Interest Rate: 
	During the 2024 Fixed Rate Period, interest on the 2024 Fixed-to-Floating Rate Securities will accrue at a rate of 4.338% per annum. 

 

	 2024 Fixed-to-Floating Floating Interest Rate: 
	During the 2024 Floating Rate Period, interest on the 2024 Fixed-to-Floating Rate Securities will accrue at a rate equal to LIBOR (as defined under
“—Interest Terms Common to the Securities” below), as determined on the applicable 2024 Fixed-to-Floating Rate Interest Determination Date (as
defined below), plus the 2024 Fixed-to-Floating Rate Margin per annum. The 2024
Fixed-to-Floating Floating Interest Rate will be reset quarterly on each 2024
Fixed-to-Floating Rate Interest Reset Date. 

  

	 2024 Fixed-to-Floating Rate Margin: 
	The “2024 Fixed-to-Floating Rate Margin” is 1.356%. 

  

	 2024 Fixed Rate Interest Payment Dates: 
	Every May 16 and November 16 in each year, commencing on November 16, 2018 and ending on the 2024 Fixed-to-Floating Rate Securities Par Redemption
Date; provided that if any scheduled 2024 Fixed Rate Interest Payment Date is not a Business Day, the 2024 Fixed Rate Interest Payment Date will be postponed to the next succeeding Business Day, but interest on that payment will not accrue
during the period from and after the scheduled 2024 Fixed Rate Interest Payment Date. 

  

	 2024 Fixed-to-Floating Floating Rate Interest Payment Dates:

	 August 16, 2023, November 16, 2023, February 16, 2024 and the 2024
Fixed-to-Floating Rate Securities Stated Maturity; provided that if any scheduled 2024
Fixed-to-Floating Floating Rate Interest Payment Date, other than the 2024
Fixed-to-Floating Rate Securities Stated Maturity, is 

  
 I-1 

	 	 
not a Business Day, the 2024 Fixed-to-Floating Floating Rate Interest Payment Date will be postponed to the next
succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the 2024 Fixed-to-Floating Floating Rate Interest Payment Date
will be the immediately preceding Business Day. 

  

	 2024 Fixed-to-Floating Rate Interest Reset Dates: 
	The 2024 Fixed-to-Floating Rate Securities Par Redemption Date, August 16, 2023, November 16, 2023 and February 16, 2024. If any 2024 Fixed-to-Floating Rate Interest Reset Date would fall on a day that is not a Business Day, the 2024
Fixed-to-Floating Rate Interest Reset Date will be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar
month, the 2024 Fixed-to-Floating Rate Interest Reset Date will be the immediately preceding Business Day. 

 

	 2024 Fixed-to-Floating Rate Interest Periods: 
	The period beginning on, and including, a 2024 Fixed-to-Floating Floating Rate Interest Payment Date and ending on, but not including, the next succeeding 2024 Fixed-to-Floating Floating Rate Interest Payment Date. 

  

	 2024 Fixed-to-Floating Rate Interest Determination Dates:

	The second London Banking Day (as defined under “—Interest Terms Common to the Securities” below) preceding the applicable 2024
Fixed-to-Floating Rate Interest Reset Date. 

  

	 2024 Fixed-to-Floating Rate Day Count: 
	30/360, Following, Unadjusted (during the 2024 Fixed Rate Period). 

  

	 	Actual/360, Modified Following, Adjusted (during the 2024 Floating Rate Period) 

 Interest Terms of the 2029
Fixed-to-Floating Rate Securities 
  

	 2029 Fixed Rate Period: 
	From (and including) the Issue Date, to (but excluding) May 16, 2028 (the “2029 Fixed-to-Floating Rate Securities Par Redemption Date”).

  

	 2029 Floating Rate Period: 
	From (and including) the 2029 Fixed-to-Floating Rate Securities Par Redemption Date, to (but excluding) the 2029 Fixed-to-Floating Rate Securities Stated Maturity. 

  

	 2029 Fixed Interest Rate: 
	During the 2029 Fixed Rate Period, interest on the 2029 Fixed-to-Floating Rate Securities will accrue at a rate of 4.972% per annum. 

  
 I-2 

	 2029 Fixed-to-Floating Floating Interest Rate: 
	During the 2029 Floating Rate Period, interest on the 2029 Fixed-to-Floating Rate Securities will accrue at a rate equal to LIBOR (as defined under
“—Interest Terms Common to the Securities” below), as determined on the applicable 2029 Fixed-to-Floating Rate Interest Determination Date (as
defined below), plus the 2029 Fixed-to-Floating Rate Margin per annum. The 2029
Fixed-to-Floating Floating Interest Rate will be reset quarterly on each 2029
Fixed-to-Floating Rate Interest Reset Date. 

  

	 2029 Fixed-to-Floating Rate Margin: 
	The “2029 Fixed-to-Floating Rate Margin” is 1.902%. 

  

	 2029 Fixed Rate Interest Payment Dates: 
	Every May 16 and November 16 in each year (together with the 2024 Fixed Rate Interest Payment Dates, each a “Fixed Rate Interest Payment Date”), commencing on November 16, 2018 and ending on the 2029 Fixed-to-Floating Rate Securities Par Redemption Date; provided that if any scheduled 2029 Fixed Rate Interest Payment Date is not a Business Day, the 2029 Fixed Rate
Interest Payment Date will be postponed to the next succeeding Business Day, but interest on that payment will not accrue during the period from and after the scheduled 2029 Fixed Rate Interest Payment Date. 

 

	 2029 Fixed-to-Floating Floating Rate Interest Payment Dates:

	August 16, 2028, November 16, 2028, February 16, 2029 and the 2029 Fixed-to-Floating Rate Securities Stated Maturity; provided that if any
scheduled 2029 Fixed-to-Floating Floating Rate Interest Payment Date, other than the 2029
Fixed-to-Floating Rate Securities Stated Maturity, is not a Business Day, the 2029
Fixed-to-Floating Floating Rate Interest Payment Date will be postponed to the next succeeding Business Day, except that if that Business Day falls in the next
succeeding calendar month, the 2029 Fixed-to-Floating Floating Rate Interest Payment Date will be the immediately preceding Business Day. 

 

	 2029 Fixed-to-Floating Rate Interest Reset Dates: 
	The 2029 Fixed-to-Floating Rate Securities Par Redemption Date, August 16, 2028, November 16, 2028 and February 16, 2029. If any 2029 Fixed-to-Floating Rate Interest Reset Date would fall on a day that is not a Business Day, the 2029
Fixed-to-Floating Rate Interest Reset Date will be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar
month, the 2029 Fixed-to-Floating Rate Interest Reset Date will be the immediately preceding Business Day. 

  
 I-3 

	 2029 Fixed-to-Floating Rate Interest Periods: 
	The period beginning on, and including, a 2029 Fixed-to-Floating Floating Rate Interest Payment Date and ending on, but not including, the next succeeding 2029 Fixed-to-Floating Floating Rate Interest Payment Date. 

  

	 2029 Fixed-to-Floating Rate Interest Determination Dates:

	The second London Banking Day (as defined under “—Interest Terms Common to the Securities” below) preceding the applicable 2029
Fixed-to-Floating Rate Interest Reset Date. 

  

	 2029 Fixed-to-Floating Rate Day Count: 
	30/360, Following, Unadjusted (during the 2029 Fixed Rate Period). 

  

	 	Actual/360, Modified Following, Adjusted (during the 2029 Floating Rate Period) 

 Interest Terms of the
Floating Rate Securities 
  

	 Floating Interest Rate: 
	The Floating Interest Rate for the first Floating Rate Interest Period (as defined below) will be equal to LIBOR (as defined under “—Interest Terms Common to the Securities” below), as determined on May 14, 2018, plus
the Floating Rate Margin (as defined below) per annum. Thereafter, the Floating Interest Rate for any Floating Rate Interest Period will be LIBOR, as determined on the applicable Floating Rate Interest Determination Date (as defined below), plus the
Floating Rate Margin per annum. The Floating Interest Rate will be reset quarterly on each Floating Rate Interest Reset Date. 

  

	 Floating Rate Margin: 
	The “Floating Rate Margin” is 1.380%. 

  

	 Floating Rate Interest Payment Dates: 
	Every February 16, May 16, August 16 and November 16 in each year, commencing on August 16, 2018 and ending on the Floating Rate Securities Stated Maturity; provided that if any scheduled Floating Rate Interest
Payment Date, other than the Floating Rate Securities Stated Maturity, is not a Business Day, the Floating Rate Interest Payment Date will be postponed to the next succeeding Business Day, except that if that Business Day falls in the next
succeeding calendar month, the Floating Rate Interest Payment Date will be the immediately preceding Business Day. 

  
 I-4 

	 Floating Rate Interest Reset Dates: 
	Every February 16, May 16, August 16 and November 16 in each year, commencing on August 16, 2018; provided that the Floating Interest Rate in effect from (and including) May 16, 2018 to (but excluding) the
first Floating Rate Interest Reset Date will be the initial Floating Interest Rate. If any Floating Rate Interest Reset Date would fall on a day that is not a Business Day, the Floating Rate Interest Reset Date will be postponed to the next
succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the Floating Rate Interest Reset Date will be the immediately preceding Business Day. 

 

	 Floating Rate Interest Periods: 
	The period beginning on, and including, a Floating Rate Interest Payment Date and ending on, but not including, the next succeeding Floating Rate Interest Payment Date; provided that the first Floating Rate Interest Period will begin on and
include May 16, 2018 and will end on but not include August 16, 2018. 

  

	 Floating Rate Interest Determination Dates: 
	The Floating Rate Interest Determination Date for the first Floating Rate Interest Period will be May 14, 2018 and the Floating Rate Interest Determination Date for each succeeding Floating Rate Interest Period will be on the second London
Banking Day (as defined under “—Interest Terms Common to the Securities” below) preceding the applicable Floating Rate Interest Reset Date. 

 

	 Floating Rate Day Count: 
	Actual/360, Modified Following, Adjusted. 

 Interest Terms Common to the Securities 

The following shall apply to the terms of each series separately on a series by series basis. 

 

	 Floating Rate of Interest: 
	Each of the 2024 Fixed-to-Floating Floating Interest Rate, the 2029 Fixed-to-Floating
Floating Interest Rate and the Floating Interest Rate. 

  

	 Interest Determination Date: 
	Each of the 2024 Fixed-to-Floating Rate Interest Determination Dates, the 2029
Fixed-to-Floating Rate Interest Determination Dates and the Floating Rate Interest Determination Dates. 

 

	 Interest Payment Date: 
	 Each of the 2024 Fixed Rate Interest Payment Dates, the 

  
 I-5 

	 	 
2024 Fixed-to-Floating Floating Rate Interest Payment Dates, the 2029 Fixed Rate Interest Payment Dates, the 2029 Fixed-to-Floating Floating Rate Interest Payment Dates and the Floating Rate Interest Payment Dates. 

 

	 Interest Period: 
	Each of the 2024 Fixed-to-Floating Rate Interest Periods, the 2029 Fixed-to-Floating
Rate Interest Periods and the Floating Rate Interest Periods. 

  

	 Interest Reset Date: 
	Each of the 2024 Fixed-to-Floating Rate Interest Reset Dates, the 2029
Fixed-to-Floating Rate Interest Reset Dates and the Floating Rate Interest Reset Dates. 

 

	 LIBOR: 
	The three-month U.S. dollar London Interbank Offered Rate. 

  

	 Margin: 
	Each of the 2024 Fixed-to-Floating Rate Margin, the 2029 Fixed-to-Floating Rate
Margin and the Floating Rate Margin. 

  

	 London Banking Day: 
	Any day on which dealings in U.S. dollars are transacted in the London interbank market. 

  

	 Calculation Agent: 
	The Bank of New York Mellon, London Branch, or its successor appointed by the Company. 

  

	 Calculation of LIBOR: 
	LIBOR will be determined by the Calculation Agent in accordance with the following provisions: 

  

	 	(1) With respect to any Interest Determination Date, LIBOR will be the rate (expressed as a percentage per annum) for deposits in U.S. dollars having a maturity of three months commencing on the related Interest Reset
Date that appears on Reuters Page LIBOR01 as of 11:00 a.m., London time, on that Interest Determination Date. If no such rate appears, then LIBOR, in respect of that Interest Determination Date, will be determined in accordance with the provisions
described in (2) below; and 

  

	 	 (2) With respect to an Interest Determination Date on which no rate appears on Reuters Page LIBOR01 (in circumstances other
than those described under “—Replacement for LIBOR” below), the Calculation Agent will request the principal London offices of each of four major reference banks in the London interbank market (which may include affiliates of
the underwriters), as selected and identified by the Company, to provide its offered quotation (expressed as 

  
 I-6 

	 	 
a percentage per annum) for deposits in U.S. dollars for the period of three months, commencing on the related Interest Reset Date, to prime banks in the London interbank market at approximately
11:00 a.m., London time, on that Interest Determination Date and in a principal amount that is representative for a single transaction in U.S. dollars in that market at that time. If at least two quotations are provided, then LIBOR on that Interest
Determination Date will be the arithmetic mean of those quotations. If fewer than two quotations are provided, then LIBOR on the Interest Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m., in the City of
New York, on the Interest Determination Date by three major banks in The City of New York (which may include affiliates of the underwriters) selected and identified by the Company for loans in U.S. dollars to leading European banks, for a period of
three months, commencing on the related Interest Reset Date, and in a principal amount that is representative for a single transaction in U.S. dollars in that market at that time. If at least two such rates are so provided, LIBOR on the Interest
Determination Date will be the arithmetic mean of such rates. If fewer than two such rates are so provided, LIBOR on the Interest Determination Date will be equal to LIBOR in effect with respect to the immediately preceding Interest Determination
Date. 

  

	 	“Reuters Page LIBOR01” means the display that appears on Reuters Page LIBOR01 or any page as may replace such page on such service (or any successor service) for the purpose of displaying London
interbank offered rates of major banks for U.S. dollars. 

  

	 	All percentages resulting from any calculation of any Floating Rate of Interest will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five
one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655)), and all dollar amounts would be rounded to the nearest cent, with one-half cent being rounded upward. 

  

	 	All calculations made by the Calculation Agent for the purposes of calculating interest on the Securities shall be conclusive and binding on the Holders of the Securities, the Company and the Trustee, absent manifest
error. 

  
 I-7 

	 	For any Interest Period, if LIBOR is negative, then it would reduce the Floating Rate of Interest payable for such interest period below the specified Margin. Accordingly, Holders may receive a Floating Rate of Interest
that is lower than the specified Margin. In any event, the Floating Rate of Interest will not be less than zero. 

  

	 Replacement for LIBOR 
	If the Company determines that LIBOR has ceased to be published on Reuters Page LIBOR01 or any successor or replacement page (the “Relevant Screen Page”) as a result of such benchmark ceasing to be calculated or administered when any
Floating Rate of Interest (or the relevant component part thereof) remains to be determined by LIBOR, then the following provisions shall apply to the applicable Securities of a series: 

 

	 	(i)	 	the Company shall use reasonable endeavours to appoint, as soon as reasonably practicable, an Independent Adviser to determine (acting in good faith and in a commercially reasonable manner), no later than five Business
Days prior to the relevant Interest Determination Date relating to the next succeeding Interest Period (the “IA Determination Cut-off Date”), a Successor Rate (as defined below) or,
alternatively, if there is no Successor Rate, an Alternative Reference Rate (as defined below) for purposes of determining the Floating Rate of Interest (or the relevant component part thereof) applicable to the applicable Securities;

  

	 	(ii)	 	if the Company is unable to appoint an Independent Adviser, or the Independent Adviser appointed by it fails to determine a Successor Rate or an Alternative Reference Rate prior to the IA Determination Cut-off Date, the Company (acting in good faith and in a commercially reasonable manner) may determine a Successor Rate or, if there is no Successor Rate, an Alternative Reference Rate; 

 

	 	(iii)	 	 if a Successor Rate or, failing which, an Alternative Reference Rate (as applicable) is determined in accordance
with the preceding provisions, such Successor Rate or, failing which, an Alternative Reference Rate (as applicable) shall be LIBOR for each of the future Interest Periods (subject to the subsequent operation of,

  
 I-8 

	 	
and to adjustment as described here under “— Replacement for LIBOR”); provided, however, that if sub-paragraph
(ii) applies and the Company is unable to or does not determine a Successor Rate or an Alternative Reference Rate prior to the relevant Interest Determination Date, the Floating Rate of Interest applicable to the next succeeding Interest Period
shall be equal to the Floating Rate of Interest last determined in relation to the applicable Securities of such series in respect of the preceding Interest Period (or alternatively, if (A) with respect to the Floating Rate Securities there has
not been a first Floating Rate Interest Payment Date, the Floating Interest Rate shall be the first Floating Interest Rate, (B) with respect to the 2024
Fixed-to-Floating Rate Securities there has not been a first 2024 Fixed-to-Floating
Floating Rate Interest Payment Date, the 2024 Fixed-to-Floating Floating Interest Rate shall be the first 2024 Fixed-to-Floating Floating Interest Rate or (C) with respect to the 2029 Fixed-to-Floating Rate Securities there has not
been a first 2029 Fixed-to-Floating Floating Rate Interest Payment Date, the 2029
Fixed-to-Floating Floating Interest Rate shall be the first 2029 Fixed-to-Floating
Floating Interest Rate); for the avoidance of doubt, the proviso in this sub-paragraph (iii) shall apply to the relevant Interest Period only and any subsequent Interest Periods are subject to the
subsequent operation of, and to adjustment as described here under “—Replacement for LIBOR”; 

  

	 	(iv)	 	 if the Independent Adviser or the Company determines a Successor Rate or, failing which, an Alternative Reference
Rate (as applicable) in accordance with the above provisions, the Independent Adviser or the Company (as applicable), may also specify changes to terms of the Securities of such series, including but not limited to the relevant Day Count, Relevant
Screen Page, Business Day, Interest Determination Date and/or the definition of LIBOR, and the method for determining the fallback rate in 

  
 I-9 

	 	
relation to the applicable Securities, in order to follow market practice in relation to the Successor Rate or the Alternative Reference Rate (as applicable). If the Independent Adviser (in
consultation with the Company) or the Company (as applicable), determines that an Adjustment Spread is required to be applied to the Successor Rate or the Alternative Reference Rate (as applicable) and determines the quantum of, or a formula or
methodology for determining, such Adjustment Spread, then such Adjustment Spread shall be applied to the Successor Rate or the Alternative Reference Rate (as applicable) and the Floating Rate of Interest shall be the aggregate of (i) the
Successor Rate or, as applicable, Alternate Referenced Rate, (ii) the Adjustment Spread and (iii) the applicable Margin. If the Independent Adviser or the Company (as applicable) is unable to determine the quantum of, or a formula or
methodology for determining, such Adjustment Spread, then such Successor Rate or Alternative Reference Rate (as applicable) will apply without an Adjustment Spread and the Floating Rate of Interest shall be the aggregate of (i) the Successor
Rate or, as applicable, Alternate Referenced Rate and (ii) the applicable Margin. For the avoidance of doubt, the Trustee and Calculation Agent shall, at the direction and expense of the Company, effect such consequential amendments to the
terms of the applicable Securities as may be required in order to give effect to the provisions set forth here under “—Replacement for LIBOR”. Consent of the holders of the applicable Securities shall not be required in
connection with effecting the Successor Rate or Alternative Reference Rate (as applicable) or such other changes, including for the execution of any documents or other steps by the Trustee or the Calculation Agent (if required); and

  

	 	(v)	 	 the Company shall promptly, following the determination of any Successor Rate or Alternative Reference Rate (as
applicable), give notice thereof to the Trustee, the Calculation Agent and the holders of the applicable Securities, which shall specify the effective date(s) for such Successor Rate or Alternative

  
 I-10 

	 	
Reference Rate (as applicable) and any consequential changes made to the terms of the Securities, 

  

	 	provided that the determination of any Successor Rate or Alternative Reference Rate, and any other related changes to the applicable Securities, shall be made in accordance with the relevant Capital Regulations
(if applicable). In effecting any such consequential amendments to the terms of the applicable Securities as may be directed by the Company in order to give effect to the provisions hereof, neither the Trustee nor the Calculation Agent shall be
required to effect any amendments that affects their own rights, duties or immunities under the Indenture, the Calculation Agency Agreement or otherwise. 

  

	 	For the purposes of this section “—Replacement for LIBOR” in respect of a series of Securities: 

  

	 	“Adjustment Spread” means a spread (which may be positive or negative) or formula or methodology for calculating a spread, which the Independent Adviser (in consultation with the Company) or the Company (as
applicable), determines is required to be applied to the Successor Rate or the Alternative Reference Rate (as applicable) in order to reduce or eliminate, to the extent reasonably practicable in the circumstances, any economic prejudice or benefit
(as applicable) to holders of the Securities of such series as a result of the replacement of LIBOR with the Successor Rate or the Alternative Reference Rate (as applicable) and is the spread, formula or methodology which: 

 

	 	(i)	 	in the case of a Successor Rate, is formally recommended in relation to the replacement of LIBOR with the Successor Rate by any Relevant Nominating Body; or 

 

	 	(ii)	 	in the case of a Successor Rate for which no such recommendation has been made or in the case of an Alternative Reference Rate, the Independent Adviser (in consultation with the Company) or the Company (as applicable)
determines, is recognised or acknowledged as being in customary market usage in international debt capital markets transactions which reference LIBOR, where such rate has been replaced by the Successor Rate or the Alternative Reference Rate (as
applicable); or 

  
 I-11 

	 	(iii)	 	if no such customary market usage is recognised or acknowledged, the Independent Adviser (in consultation with the Company) or the Company in its discretion (as applicable), determines (acting in good faith and in a
commercially reasonable manner) to be appropriate; 

  

	 	“Alternative Reference Rate” means the rate that the Independent Adviser or the Company (as applicable) determines has replaced LIBOR in customary market usage in the international debt capital markets
for the purposes of determining rates of interest in respect of bonds denominated in U.S. dollars and of a comparable duration to the relevant Interest Period, or, if the Independent Adviser or the Company (as applicable) determines that there is no
such rate, such other rate as the Independent Adviser or the Company (as applicable) determines in its discretion (acting in good faith and in a commercially reasonable manner) is most comparable to LIBOR; 

 

	 	“Independent Adviser” means an independent financial institution of international repute or other independent financial adviser experienced in the international debt capital markets, in each case
appointed by the Company at its own expense; 

  

	 	“Relevant Nominating Body” means, in respect of LIBOR: 

  

	 	(i)	 	the central bank for the U.S. dollar, or any central bank or other supervisory authority which is responsible for supervising the administrator of LIBOR; or 

 

	 	(ii)	 	any working group or committee sponsored by, chaired or co-chaired by or constituted at the request of (a) the central bank for the U.S. dollar, (b) any central bank or
other supervisory authority which is responsible for supervising the administrator of LIBOR, (c) a group of the aforementioned central banks or other supervisory authorities, or (d) the Financial Stability Board or any part thereof; and

  

	 	“Successor Rate” means the rate that the Independent Adviser or the Company (as applicable) determines is a successor to or replacement of LIBOR which is formally recommended by any Relevant Nominating
Body. 

  
 I-12 

 EXHIBIT A 

Form of 2024 Fixed-to-Floating Rate Global Note 

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF,
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (OR ANY SUCCESSOR CLEARING SYSTEM) (“DTC”), TO BARCLAYS PLC, OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 This Security is
one of a duly authorized issue of securities of the Company (as defined below) (herein called the “Securities” and each, a “Security”) issued and to be issued in one or more series under and governed by the Senior
Debt Securities Indenture, dated as of January 17, 2018 (as heretofore amended and supplemented, the “Base Indenture”), as amended and supplemented by the Second Supplemental Indenture, dated as of May 16, 2018 (the
“Second Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). 
 Notwithstanding any other
agreements, arrangements, or understandings between the Company and any Holder or Beneficial Owner of the Securities, by acquiring the Securities, each Holder and Beneficial Owner of the Securities acknowledges, accepts, agrees to be bound by, and
consents to, the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority (as those terms are defined in the Base Indenture) and the provisions set forth in Section 12.01 of the Base
Indenture. 
 In accordance with Section 2.10 of the Second Supplemental Indenture, by its acquisition of the Securities, each Holder and Beneficial
Owner of the Securities acknowledges, accepts, agrees to be bound by, and consents to, the substitution of Sections 5.01, 5.02 and 5.03 (except for Sections 5.03(c) and 5.03(f)) of the Base Indenture with Section 2.07 of the Second Supplemental
Indenture on the occurrence of an Events of Default Substitution (as defined below) in accordance with Section 2.06 of the Second Supplemental Indenture, at the Company’s option, without the need for the Company to obtain any consent from
such Holder or Beneficial Owner. 
 In accordance with Article 13 of the Base Indenture and Section 2.16 of the Second Supplemental Indenture, each
Holder and Beneficial Owner of the Securities that acquires the Securities in the secondary market shall be deemed to acknowledge, agree to be bound by, and 

  
 A-1 

 
consent to, the same provisions set forth in the Securities and the Indenture to the same extent as the Holders and Beneficial Owners of the Securities that acquire the Securities upon their
initial issuance, including, without limitation, with respect to the acknowledgement and agreement to be bound by, and consent to, the terms of the Securities, including in relation to the provisions contained in Section 5.03(c) and
Section 12.01 of the Base Indenture and Section 2.10 of the Second Supplemental Indenture. 

  
 A-2 

 BARCLAYS PLC 

4.338% Fixed-to-Floating Rate Senior Notes due 2024 

 

			
	No. 00[●]	  	$[●]

 CUSIP NO. 06738E BB0 

ISIN NO. US06738EBB02 
 COMMON CODE
NO. 182249475 
 BARCLAYS PLC, a company duly incorporated and existing under the laws of England and Wales (herein called the
“Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of US$[•] ([•])
on May 16, 2024 (the “Maturity Date”), except as otherwise provided herein, and to pay interest thereon, in accordance with the terms hereof. Interest shall accrue on this Security from May 16, 2018 or from the most recent
Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal hereof is paid or made available for payment. Interest shall be paid semi-annually in arrear on May 16 and November 16 of
each year (each, a “Fixed Rate Interest Payment Date”), commencing on November 16, 2018 and ending on May 16, 2023 (the “Par Redemption Date”), except as otherwise provided herein, at the rate of 4.338%
per annum. Thereafter, interest shall be paid quarterly in arrear on August 16, 2023, November 16, 2023, February 16, 2024 and the Maturity Date (each, a “Floating Rate Interest Payment Date” and, together with the
Fixed Rate Interest Payment Dates, an “Interest Payment Date”), except as otherwise provided herein, at a floating rate equal to the three-month U.S. dollar London Interbank Offered Rate (“LIBOR”), reset quarterly,
plus 1.356% per annum, as described below. 
 The interest rate on the Securities for any Floating Rate Interest Period will be LIBOR, as
determined on the applicable Interest Determination Date, plus 1.356% per annum. During the Floating Rate Period, the interest rate on the Securities will be reset quarterly on each Interest Reset Date. Subject to the limitations specified on the
reverse of this Security, interest on the Securities shall be computed and payable in arrear and on the basis of a 360 day year of twelve 30 day months during the Fixed Rate Period and on the basis of the actual number of days in each Floating Rate
Interest Period and a 360-day year during the Floating Rate Period. 
 The Calculation Agent,
initially the Bank of New York Mellon, London Branch (the “Calculation Agent”), will determine LIBOR in any circumstance where the Calculation Agent is so required under the terms of the Securities and the Indenture, in accordance
with the provisions set forth in Annex I to the Second Supplemental Indenture. Any replacement for LIBOR will also be calculated in accordance with the provisions set forth in Annex I to the Second Supplemental Indenture. 

All calculations made by the Calculation Agent for the purposes of calculating the interest rate on the Securities shall be conclusive and
binding on the Holders of the Securities, the Company and the Trustee, absent manifest error. 

  
 A-3 

 If any scheduled Fixed Rate Interest Payment Date is not a Business Day, the Fixed Rate Interest
Payment Date shall be postponed to the next succeeding Business Day (as defined below), but interest on that payment will not accrue during the period from and after the scheduled Fixed Rate Interest Payment Date. If any scheduled Floating Rate
Interest Payment Date is not a Business Day, Floating Rate the Interest Payment Date shall be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the Floating Rate Interest
Payment Date will be the immediately preceding Business Day. If the Maturity Date or date of redemption or repayment is not a Business Day, the payment of interest and principal and/or any amount payable upon redemption or repayment of the
Securities will be made on the next succeeding Business Day, but interest on that payment will not accrue during the period from and after such Maturity Date or date of redemption or repayment. If the Securities are redeemed, unless the Company
defaults on payment of the Redemption Price, interest will cease to accrue on the Redemption Date on the Securities called for redemption. A “Business Day” means any weekday, other than one on which banking institutions are
authorized or obligated by law, regulation or executive order to close in London, England or in the City of New York, United States. 
 The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name the relevant Security (or any Predecessor Security) is registered at the close of
business on the Regular Record Date (as defined in the Second Supplemental Indenture) for such interest. 
 No repayment of the principal
amount of the Securities or payment of interest on the Securities shall become due and payable after the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority, unless such repayment or
payment would be permitted to be made by the Company under the laws and regulations of the United Kingdom and the European Union applicable to the Company. 

Payments of principal of and interest, if any, on the Securities shall be made in such coin or currency of the United States of America as at
the time of payment is legal tender for payment of public and private debts and such payments shall be made through one or more Paying Agents appointed under the Indenture to the Holder or Holders of this Security. Initially, the Paying Agent for
the Securities shall be The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom and the Place of Payment in respect of the Securities shall be the Corporate Trust Office of the Trustee, which as of the date
hereof is hereby designated for purposes of the Securities initially as the office or agency of the Trustee located at said address. Initially, the Senior Debt Security Registrar for the Securities shall be The Bank of New York Mellon SA/NV,
Luxembourg Branch, 2-4 Rue Eugene Ruppert, Vertigo Building – Polaris, Luxembourg, 2453, Luxembourg (which location shall also be a Place of Payment for purposes of Section 3.05(a) of the Base
Indenture). The Company at any time and from time to time may change the Paying Agent or, subject to Section 9.01 of the Base Indenture, the Place of Payment, and the Senior Debt Security Registrar without prior notice to the Holders of the
Securities, and in such an event the Company may act as Paying Agent or Security Registrar. Payments of principal of and interest on the Securities shall be made by wire transfer of immediately available funds; provided, however, that
in the case of payments of principal, this Security is first surrendered to the Paying Agent. 

  
 A-4 

 This Security shall be governed by and construed in accordance with the laws of the State of New
York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.03(c) of the Base Indenture which shall be governed by and construed in accordance with English law. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture, as defined herein. 
 THIS SECURITY IS NOT A DEPOSIT AND IS NOT COVERED BY THE U.K.
FINANCIAL SERVICES COMPENSATION SCHEME OR INSURED BY THE UNITED STATES FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY OF THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof, directly or through an
Authenticating Agent, by manual signature of an authorized signatory, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-5 

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

 

							
	Date:	 		 	BARCLAYS PLC
				
		 		 	By:	 	      

		 		 		 	Name:
		 		 		 	Title:
				
		 		 	By:	 	      

		 		 		 	Name:
		 		 		 	Title:

 Trustee’s Certificate of Authentication 

This is one of the Securities of the series designated herein referred to in the Indenture. 

 

							
	Date:	 		 	THE BANK OF NEW YORK MELLON, as Trustee
				
		 		 	By:	 	      

		 		 		 	Authorized Signatory

 [Signature Page to 2024 Fixed-to-Floating Rate Global Note No [●]]

 (Reverse of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities” and each, a
“Security”) issued and to be issued in one or more series under and governed by the Senior Debt Securities Indenture, dated as of January 17, 2018 (herein called the “Base Indenture”), between the Company and
The Bank of New York Mellon, London Branch, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture (as defined below)) as amended and supplemented by the Second Supplemental Indenture,
dated as of May 16, 2018 (the “Second Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), and reference is hereby made to the Indenture, the terms of which are incorporated herein
by reference, for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. Insofar as the provisions of the Indenture conflict with this Security, the Indenture shall control for purposes of this Security. 

This Security is one of the series designated on the face hereof, limited to an aggregate principal amount of $1,250,000,000, which amount may
be increased at the option of the Company if in the future it determines that it may wish to sell additional Securities of this series. References herein to “this series” mean the series designated on the face hereof. 

For purposes of this Security: 

“Fixed Rate Interest Period” means the period beginning on (and including) a Fixed Rate Interest Payment Date and ending on
(but not including) the next succeeding Fixed Rate Interest Payment Date; provided that the first Fixed Rate Interest Period will begin on and include May 16, 2018 and will end on (but not include) November 16, 2018. 

“Fixed Rate Period” means the period beginning on (and including) May 16, 2018 and ending on (but not including) the Par
Redemption Date. 
 “Floating Rate Interest Period” means the period beginning on (and including) a Floating Rate Interest
Payment Date and ending on (but not including) the next succeeding Floating Rate Interest Payment Date. 
 “Floating Rate
Period” means the period beginning on (and including) the Par Redemption Date and ending on (but not including) the Maturity Date. 

“Interest Determination Date” means the second London Banking Day preceding the applicable Interest Reset Date. 

“Interest Reset Date” means the Par Redemption Date, August 16, 2023, November 16, 2023 and February 16, 2024;
provided that if any Interest Reset Date falls on a day that is not a Business Day, the Interest Reset Date will be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the
Interest Reset Date will be the immediately preceding Business Day. 

  
 A-7 

 “London Banking Day” means any day on which dealings in U.S. dollars are
transacted in the London interbank market. 
 The provisions set forth in Section 10.04 of the Base Indenture are applicable to this
Security. In addition, the Company agrees, to the extent the Company has actual knowledge of such information, to provide the Paying Agent with sufficient information about any modification to the terms of the Securities for the purposes of
determining whether FATCA Withholding Tax applies to any payment of principal or interest in the Securities. 
 The Company may redeem the
Securities pursuant to Section 2.04 of the Second Supplemental Indenture. The Company may also redeem the Securities pursuant to Section 11.09 of the Base Indenture and/or Section 2.05 of the Second Supplemental Indenture. Any
redemption of Securities by the Company is subject to the notice period and provisions set forth in Sections 11.02 and 11.04 of the Base Indenture and in Section 2.17 of the Second Supplemental Indenture, and to the conditions set forth in
Section 11.10 of the Base Indenture. 
 The Company may repurchase the Securities pursuant to Section 11.12 of the Base Indenture.

 All authority conferred or agreed to be conferred by each Holder and Beneficial Owner pursuant to this Security, including the consents
given by such Holder and Beneficial Owner, shall be binding upon the successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of such Holder and Beneficial Owner. 

The Securities shall constitute the Company’s direct, unconditional, unsecured and unsubordinated obligations and shall rank as set forth
in Section 2.01(k) of the First Supplemental Indenture. 
 The Securities are subject to the waiver of
set-off provisions set forth in Section 5.03(c) of the Base Indenture. 
 This Security is
subject to the provisions regarding the U.K. Bail-in Power Acknowledgement set forth in Section 12.01 of the Base Indenture, subject to the provisions of Section 2.18 of the Second Supplemental
Indenture. 
 The Securities are subject to provisions set forth in Article 5 of the Base Indenture, provided that if the inclusion
of any of the “Events of Default” set forth in Section 5.01 of the Base Indenture in the terms of the Securities does, or would be likely to (in the opinion of the Company, the PRA or any other relevant national or European
authority), result in a Loss Absorption Disqualification Event (as defined in the Second Supplemental Indenture) following a Loss Absorption Regulations Event (as defined in the Second Supplemental Indenture) that occurs on or after the Issue Date
(as defined in the Second Supplemental Indenture), then the Company may, at the Company’s option, without the need for the Company to obtain any consent from any Holders of the Securities, determine that the terms of Section 5.01,
Section 5.02 and Section 5.03 (except for Section 5.03(c) and Section 5.03(f)) of the Base Indenture shall cease to apply to the Securities and shall be replaced in their entirety by the enforcement events and remedies set forth
in the second and third following paragraphs and as contemplated by Section 2.07 of the Second Supplemental Indenture (such replacement, an “Events of Default Substitution”). 

  
 A-8 

 Any Events of Default Substitution will also be subject to the provisions of Section 2.08
and 2.09 of the Second Supplemental Indenture. Following an Events of Default Substitution, the Securities will be subject to Section 2.10, Section 2.11, Section 2.12, Section 2.13, Section 2.14 and Section 2.15 of the
Second Supplemental Indenture. 
 Following an Events of Default Substitution, if a Winding-Up Event
(as defined in the Second Supplemental Indenture) occurs, the principal amount of this Security, together with any accrued but unpaid interest thereon, shall become immediately due and payable, without the need of any further action on the part of
the Trustee, the Holders or any other Person. 
 Following an Events of Default Substitution, if a
Non-Payment Event (as defined in the Second Supplemental Indenture) occurs, the Trustee may, at its discretion, and without further notice to the Company, institute proceedings in England (or such other
jurisdiction in which the Company may be organized) (but not elsewhere) for the winding-up of the Company and/or prove in a winding-up of the Company and/or claim in a
liquidation or administration of the Company. 
 Following an Events of Default Substitution, the Securities will also subject to the
limitation of remedies provisions set forth in Section 2.07 of the Second Supplemental Indenture. 
 The Indenture permits the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture as contemplated by Article 9 of the Base Indenture. To the extent
required by the U.S. Trust Indenture Act of 1939, as amended, but otherwise notwithstanding any other provision in this Security, the Holder of this Security shall have the right to receive (subject to Section 3.07 of the Base Indenture)
payment of any principal of, and interest on, this Security when due (or, in the case of redemption, on or after the Redemption Date), and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder or holder. 
 This Security, and any other Securities of this series and of like tenor, are issuable only in
registered form without coupons in initial denominations of $200,000 and increments of $1,000 thereafter. The denominations cannot be changed without the consent of the Trustee. The provisions on registration, transfer, or exchange, of the
Securities set forth in Section 3.05 of the Base Indenture are applicable to the Securities. 
 No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 A-9 

 This Security shall be governed by and construed in accordance with the laws of the State of
New York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.03(c) of the Base Indenture, which shall be governed by and construed in accordance with English law.

  
 A-10 

 EXHIBIT B 

Form of 2029 Fixed-to-Floating Rate Global Note 

THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF,
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (OR ANY SUCCESSOR CLEARING SYSTEM) (“DTC”), TO BARCLAYS PLC, OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 This Security is
one of a duly authorized issue of securities of the Company (as defined below) (herein called the “Securities” and each, a “Security”) issued and to be issued in one or more series under and governed by the Senior
Debt Securities Indenture, dated as of January 17, 2018 (as heretofore amended and supplemented, the “Base Indenture”), as amended and supplemented by the Second Supplemental Indenture, dated as of May 16, 2018 (the
“Second Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). 
 Notwithstanding any other
agreements, arrangements, or understandings between the Company and any Holder or Beneficial Owner of the Securities, by acquiring the Securities, each Holder and Beneficial Owner of the Securities acknowledges, accepts, agrees to be bound by, and
consents to, the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority (as those terms are defined in the Base Indenture) and the provisions set forth in Section 12.01 of the Base
Indenture. 
 In accordance with Section 2.10 of the Second Supplemental Indenture, by its acquisition of the Securities, each Holder and Beneficial
Owner of the Securities acknowledges, accepts, agrees to be bound by, and consents to, the substitution of Sections 5.01, 5.02 and 5.03 (except for Sections 5.03(c) and 5.03(f)) of the Base Indenture with Section 2.07 of the Second Supplemental
Indenture on the occurrence of an Events of Default Substitution (as defined below) in accordance with Section 2.06 of the Second Supplemental Indenture, at the Company’s option, without the need for the Company to obtain any consent from
such Holder or Beneficial Owner. 
 In accordance with Article 13 of the Base Indenture and Section 2.16 of the Second Supplemental Indenture, each
Holder and Beneficial Owner of the Securities that acquires the Securities in the secondary market shall be deemed to acknowledge, agree to be bound by, and 

  
 B-1 

 
consent to, the same provisions set forth in the Securities and the Indenture to the same extent as the Holders and Beneficial Owners of the Securities that acquire the Securities upon their
initial issuance, including, without limitation, with respect to the acknowledgement and agreement to be bound by, and consent to, the terms of the Securities, including in relation to the provisions contained in Section 5.03(c) and
Section 12.01 of the Base Indenture and Section 2.10 of the Second Supplemental Indenture. 

  
 B-2 

 BARCLAYS PLC 

4.972% Fixed-to-Floating Rate Senior Notes due 2029 

 

			
	No. 00[●]	  	$[●]

 CUSIP NO. 06738E BD6 

ISIN NO. US06738EBD67 
 COMMON CODE
NO. 182250538 
 BARCLAYS PLC, a company duly incorporated and existing under the laws of England and Wales (herein called the
“Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of US$[●]
([●]) on May 16, 2029 (the “Maturity Date”), except as otherwise provided herein, and to pay interest thereon, in accordance with the terms hereof. Interest shall accrue on this Security from May 16, 2018 or from the
most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, until the principal hereof is paid or made available for payment. Interest shall be paid semi-annually in arrear on May 16 and
November 16 of each year (each, a “Fixed Rate Interest Payment Date”), commencing on November 16, 2018 and ending on May 16, 2028 (the “Par Redemption Date”), except as otherwise provided herein, at
the rate of 4.972% per annum. Thereafter, interest shall be paid quarterly in arrear on August 16, 2028, November 16, 2028, February 16, 2029 and the Maturity Date (each, a “Floating Rate Interest Payment Date” and,
together with the Fixed Rate Interest Payment Dates, an “Interest Payment Date”), except as otherwise provided herein, at a floating rate equal to the three-month U.S. dollar London Interbank Offered Rate (“LIBOR”),
reset quarterly, plus 1.902% per annum, as described below. 
 The interest rate on the Securities for any Floating Rate Interest Period
will be LIBOR, as determined on the applicable Interest Determination Date, plus 1.902% per annum. During the Floating Rate Period, the interest rate on the Securities will be reset quarterly on each Interest Reset Date. Subject to the limitations
specified on the reverse of this Security, interest on the Securities shall be computed and payable in arrear and on the basis of a 360 day year of twelve 30 day months during the Fixed Rate Period and on the basis of the actual number of days in
each Floating Rate Interest Period and a 360-day year during the Floating Rate Period. 
 The
Calculation Agent, initially the Bank of New York Mellon, London Branch (the “Calculation Agent”), will determine LIBOR in any circumstance where the Calculation Agent is so required under the terms of the Securities and the
Indenture, in accordance with the provisions set forth in Annex I to the Second Supplemental Indenture. Any replacement for LIBOR will also be calculated in accordance with the provisions set forth in Annex I to the Second Supplemental Indenture.

 All calculations made by the Calculation Agent for the purposes of calculating the interest rate on the Securities shall be conclusive
and binding on the Holders of the Securities, the Company and the Trustee, absent manifest error. 

  
 B-3 

 If any scheduled Fixed Rate Interest Payment Date is not a Business Day, the Fixed Rate Interest
Payment Date shall be postponed to the next succeeding Business Day (as defined below), but interest on that payment will not accrue during the period from and after the scheduled Fixed Rate Interest Payment Date. If any scheduled Floating Rate
Interest Payment Date is not a Business Day, Floating Rate the Interest Payment Date shall be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the Floating Rate Interest
Payment Date will be the immediately preceding Business Day. If the Maturity Date or date of redemption or repayment is not a Business Day, the payment of interest and principal and/or any amount payable upon redemption or repayment of the
Securities will be made on the next succeeding Business Day, but interest on that payment will not accrue during the period from and after such Maturity Date or date of redemption or repayment. If the Securities are redeemed, unless the Company
defaults on payment of the Redemption Price, interest will cease to accrue on the Redemption Date on the Securities called for redemption. A “Business Day” means any weekday, other than one on which banking institutions are
authorized or obligated by law, regulation or executive order to close in London, England or in the City of New York, United States. 
 The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name the relevant Security (or any Predecessor Security) is registered at the close of
business on the Regular Record Date (as defined in the Second Supplemental Indenture) for such interest. 
 No repayment of the principal
amount of the Securities or payment of interest on the Securities shall become due and payable after the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority, unless such repayment or
payment would be permitted to be made by the Company under the laws and regulations of the United Kingdom and the European Union applicable to the Company. 

Payments of principal of and interest, if any, on the Securities shall be made in such coin or currency of the United States of America as at
the time of payment is legal tender for payment of public and private debts and such payments shall be made through one or more Paying Agents appointed under the Indenture to the Holder or Holders of this Security. Initially, the Paying Agent for
the Securities shall be The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom and the Place of Payment in respect of the Securities shall be the Corporate Trust Office of the Trustee, which as of the date
hereof is hereby designated for purposes of the Securities initially as the office or agency of the Trustee located at said address. Initially, the Senior Debt Security Registrar for the Securities shall be The Bank of New York Mellon SA/NV,
Luxembourg Branch, 2-4 Rue Eugene Ruppert, Vertigo Building – Polaris, Luxembourg, 2453, Luxembourg (which location shall also be a Place of Payment for purposes of Section 3.05(a) of the Base
Indenture). The Company at any time and from time to time may change the Paying Agent or, subject to Section 9.01 of the Base Indenture, the Place of Payment, and the Senior Debt Security Registrar without prior notice to the Holders of the
Securities, and in such an event the Company may act as Paying Agent or Security Registrar. Payments of principal of and interest on the Securities shall be made by wire transfer of immediately available funds; provided, however, that
in the case of payments of principal, this Security is first surrendered to the Paying Agent. 

  
 B-4 

 This Security shall be governed by and construed in accordance with the laws of the State of New
York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.03(c) of the Base Indenture which shall be governed by and construed in accordance with English law. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture, as defined herein. 
 THIS SECURITY IS NOT A DEPOSIT AND IS NOT COVERED BY THE U.K.
FINANCIAL SERVICES COMPENSATION SCHEME OR INSURED BY THE UNITED STATES FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY OF THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof, directly or through an
Authenticating Agent, by manual signature of an authorized signatory, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 B-5 

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

 

							
	Date:	 		 	BARCLAYS PLC
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:

 Trustee’s Certificate of Authentication 

This is one of the Securities of the series designated herein referred to in the Indenture. 

 

							
	Date:	 		 	THE BANK OF NEW YORK MELLON, as Trustee
				
		 		 	By:	 	  

		 		 		 	                        Authorized Signatory

 [Signature Page to 2029 Fixed-to-Floating Rate Global Note No [●]] 

 (Reverse of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities” and each, a
“Security”) issued and to be issued in one or more series under and governed by the Senior Debt Securities Indenture, dated as of January 17, 2018 (herein called the “Base Indenture”), between the Company and
The Bank of New York Mellon, London Branch, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture (as defined below)) as amended and supplemented by the Second Supplemental Indenture,
dated as of May 16, 2018 (the “Second Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), and reference is hereby made to the Indenture, the terms of which are incorporated herein
by reference, for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. Insofar as the provisions of the Indenture conflict with this Security, the Indenture shall control for purposes of this Security. 

This Security is one of the series designated on the face hereof, limited to an aggregate principal amount of $1,750,000,000, which amount may
be increased at the option of the Company if in the future it determines that it may wish to sell additional Securities of this series. References herein to “this series” mean the series designated on the face hereof. 

For purposes of this Security: 

“Fixed Rate Interest Period” means the period beginning on (and including) a Fixed Rate Interest Payment Date and ending on
(but not including) the next succeeding Fixed Rate Interest Payment Date; provided that the first Fixed Rate Interest Period will begin on and include May 16, 2018 and will end on (but not include) November 16, 2018. 

“Fixed Rate Period” means the period beginning on (and including) May 16, 2018 and ending on (but not including) the Par
Redemption Date. 
 “Floating Rate Interest Period” means the period beginning on (and including) a Floating Rate Interest
Payment Date and ending on (but not including) the next succeeding Floating Rate Interest Payment Date. 
 “Floating Rate
Period” means the period beginning on (and including) the Par Redemption Date and ending on (but not including) the Maturity Date. 

“Interest Determination Date” means the second London Banking Day preceding the applicable Interest Reset Date. 

“Interest Reset Date” means the Par Redemption Date, August 16, 2028, November 16, 2028 and February 16, 2029;
provided that if any Interest Reset Date falls on a day that is not a Business Day, the Interest Reset Date will be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the
Interest Reset Date will be the immediately preceding Business Day. 

  
 B-7 

 “London Banking Day” means any day on which dealings in U.S. dollars are
transacted in the London interbank market. 
 The provisions set forth in Section 10.04 of the Base Indenture are applicable to this
Security. In addition, the Company agrees, to the extent the Company has actual knowledge of such information, to provide the Paying Agent with sufficient information about any modification to the terms of the Securities for the purposes of
determining whether FATCA Withholding Tax applies to any payment of principal or interest in the Securities. 
 The Company may redeem the
Securities pursuant to Section 2.04 of the Second Supplemental Indenture. The Company may also redeem the Securities pursuant to Section 11.09 of the Base Indenture and/or Section 2.05 of the Second Supplemental Indenture. Any
redemption of Securities by the Company is subject to the notice period and provisions set forth in Sections 11.02 and 11.04 of the Base Indenture and in Section 2.17 of the Second Supplemental Indenture, and to the conditions set forth in
Section 11.10 of the Base Indenture. 
 The Company may repurchase the Securities pursuant to Section 11.12 of the Base Indenture.

 All authority conferred or agreed to be conferred by each Holder and Beneficial Owner pursuant to this Security, including the consents
given by such Holder and Beneficial Owner, shall be binding upon the successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of such Holder and Beneficial Owner. 

The Securities shall constitute the Company’s direct, unconditional, unsecured and unsubordinated obligations and shall rank as set forth
in Section 2.01(k) of the First Supplemental Indenture. 
 The Securities are subject to the waiver of
set-off provisions set forth in Section 5.03(c) of the Base Indenture. 
 This Security is
subject to the provisions regarding the U.K. Bail-in Power Acknowledgement set forth in Section 12.01 of the Base Indenture, subject to the provisions of Section 2.18 of the Second Supplemental
Indenture. 
 The Securities are subject to provisions set forth in Article 5 of the Base Indenture, provided that if the inclusion
of any of the “Events of Default” set forth in Section 5.01 of the Base Indenture in the terms of the Securities does, or would be likely to (in the opinion of the Company, the PRA or any other relevant national or European
authority), result in a Loss Absorption Disqualification Event (as defined in the Second Supplemental Indenture) following a Loss Absorption Regulations Event (as defined in the Second Supplemental Indenture) that occurs on or after the Issue Date
(as defined in the Second Supplemental Indenture), then the Company may, at the Company’s option, without the need for the Company 

  
 B-8 

 
to obtain any consent from any Holders of the Securities, determine that the terms of Section 5.01, Section 5.02 and Section 5.03 (except for Section 5.03(c) and
Section 5.03(f)) of the Base Indenture shall cease to apply to the Securities and shall be replaced in their entirety by the enforcement events and remedies set forth in the second and third following paragraphs and as contemplated by
Section 2.07 of the Second Supplemental Indenture (such replacement, an “Events of Default Substitution”). 
 Any
Events of Default Substitution will also be subject to the provisions of Section 2.08 and 2.09 of the Second Supplemental Indenture. Following an Events of Default Substitution, the Securities will be subject to Section 2.10,
Section 2.11, Section 2.12, Section 2.13, Section 2.14 and Section 2.15 of the Second Supplemental Indenture. 

Following an Events of Default Substitution, if a Winding-Up Event (as defined in the Second
Supplemental Indenture) occurs, the principal amount of this Security, together with any accrued but unpaid interest thereon, shall become immediately due and payable, without the need of any further action on the part of the Trustee, the Holders or
any other Person. 
 Following an Events of Default Substitution, if a Non-Payment Event (as defined
in the Second Supplemental Indenture) occurs, the Trustee may, at its discretion, and without further notice to the Company, institute proceedings in England (or such other jurisdiction in which the Company may be organized) (but not elsewhere) for
the winding-up of the Company and/or prove in a winding-up of the Company and/or claim in a liquidation or administration of the Company. 

Following an Events of Default Substitution, the Securities will also subject to the limitation of remedies provisions set forth in
Section 2.07 of the Second Supplemental Indenture. 
 The Indenture permits the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture as contemplated by Article 9 of the Base Indenture. To the extent required by the U.S. Trust Indenture Act of 1939, as
amended, but otherwise notwithstanding any other provision in this Security, the Holder of this Security shall have the right to receive (subject to Section 3.07 of the Base Indenture) payment of any principal of, and interest on, this Security
when due (or, in the case of redemption, on or after the Redemption Date), and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder or holder. 

This Security, and any other Securities of this series and of like tenor, are issuable only in registered form without coupons in initial
denominations of $200,000 and increments of $1,000 thereafter. The denominations cannot be changed without the consent of the Trustee. The provisions on registration, transfer, or exchange, of the Securities set forth in Section 3.05 of the
Base Indenture are applicable to the Securities. 

  
 B-9 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to
due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not
this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This
Security shall be governed by and construed in accordance with the laws of the State of New York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.03(c) of the Base
Indenture, which shall be governed by and construed in accordance with English law. 

  
 B-10 

 EXHIBIT C 

Form of Floating Rate Global Note 
 THIS
SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY
REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (OR ANY SUCCESSOR CLEARING SYSTEM)
(“DTC”), TO BARCLAYS PLC, OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 This Security is one of a duly authorized issue of securities of the Company (as
defined below) (herein called the “Securities” and each, a “Security”) issued and to be issued in one or more series under and governed by the Senior Debt Securities Indenture, dated as of January 17, 2018 (as
heretofore amended and supplemented, the “Base Indenture”), as amended and supplemented by the Second Supplemental Indenture, dated as of May 16, 2018 (the “Second Supplemental Indenture” and, together with the
Base Indenture, the “Indenture”). 
 Notwithstanding any other agreements, arrangements or understandings between the Company and any
Holder or Beneficial Owner of the Securities, by acquiring the Securities, each Holder and Beneficial Owner of the Securities acknowledges, accepts, agrees to be bound by, and consents to, the exercise of any U.K.
Bail-in Power by the Relevant U.K. Resolution Authority (as those terms are defined in the Base Indenture) and the provisions set forth in Section 12.01 of the Base Indenture. 

In accordance with Section 2.10 of the Second Supplemental Indenture, by its acquisition of the Securities, each Holder and Beneficial Owner of the
Securities acknowledges, accepts, agrees to be bound by, and consents to, the substitution of Sections 5.01, 5.02 and 5.03 (except for Sections 5.03(c) and 5.03(f)) of the Base Indenture with Section 2.07 of the Second Supplemental Indenture on
the occurrence of an Events of Default Substitution (as defined below) in accordance with Section 2.06 of the Second Supplemental Indenture, at the Company’s option, without the need for the Company to obtain any consent from such Holder
or Beneficial Owner. 

  
 C-1 

 In accordance with Article 13 of the Base Indenture and Section 2.16 of the Second Supplemental Indenture,
each Holder and Beneficial Owner of the Securities that acquires the Securities in the secondary market shall be deemed to acknowledge, agree to be bound by, and consent to, the same provisions set forth in the Securities and the Indenture to the
same extent as the Holders and Beneficial Owners of the Securities that acquire the Securities upon their initial issuance, including, without limitation, with respect to the acknowledgement and agreement to be bound by, and consent to, the terms of
the Securities, including in relation to the provisions contained in Section 5.03(c) and Section 12.01 of the Base Indenture and Section 2.10 of the Second Supplemental Indenture. 

  
 C-2 

 BARCLAYS PLC 

Floating Rate Senior Notes due 2024 
  

			
	No. 00[●]	 	$[●]

 CUSIP NO. 06738E BC8 

ISIN NO. US06738EBC84 
 COMMON CODE
NO. 182227293 
 BARCLAYS PLC, a company duly incorporated and existing under the laws of England and Wales (herein called the
“Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of US$[●]
([●]) on May 16, 2024 (the “Maturity Date”), except as otherwise provided herein, and to pay interest thereon, in accordance with the terms hereof. Interest shall accrue on this Security from May 16, 2018 or from the
most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, and shall be paid quarterly in arrear on February 16, May 16, August 16 and November 16 of each year (each, an
“Interest Payment Date”), commencing on August 16, 2018 and ending on the Maturity Date, except as otherwise provided herein, at a floating rate equal to the three-month U.S. dollar London Interbank Offered Rate
(“LIBOR”), reset quarterly, plus 1.380% per annum, as described below, until the principal hereof is paid or made available for payment. 

The interest rate on the Securities for the first Interest Period will be LIBOR, as determined on May 14, 2018 (treating May 14,
2018 as if it were an Interest Determination Date and May 16, 2018 as the related Interest Reset Date), plus 1.380% per annum. Thereafter, the interest rate on the Securities for any Interest Period will be LIBOR, as determined on the
applicable Interest Determination Date, plus 1.380% per annum. The interest rate on the Securities will be reset quarterly on each Interest Reset Date. Subject to the limitations specified on the reverse of this Security, interest on the Securities
shall be computed and payable in arrear and on the basis of a year of 360 days and the actual number of days elapsed. 
 The Calculation
Agent, initially the Bank of New York Mellon, London Branch (the “Calculation Agent”), will determine LIBOR in any circumstance where the Calculation Agent is so required under the terms of the Securities and the Indenture, in
accordance with the provisions set forth in Annex I to the Second Supplemental Indenture. Any replacement for LIBOR will also be calculated in accordance with the provisions set forth in Annex I to the Second Supplemental Indenture. 

All calculations made by the Calculation Agent for the purposes of calculating the interest rate on the Securities shall be conclusive and
binding on the Holders of the Securities, the Company and the Trustee, absent manifest error. 

  
 C-3 

 If any scheduled Interest Payment Date is not a Business Day (as defined below), the Interest
Payment Date shall be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the Interest Payment Date will be the immediately preceding Business Day. If the Maturity Date or date
of redemption or repayment is not a Business Day, the payment of interest and principal and/or any amount payable upon redemption or repayment of the Securities will be made on the next succeeding Business Day, but interest on that payment will not
accrue during the period from and after such Maturity Date or date of redemption or repayment. If the Securities are redeemed, unless the Company defaults on payment of the Redemption Price, interest will cease to accrue on the Redemption Date on
the Securities called for redemption. A “Business Day” means any weekday, other than one on which banking institutions are authorized or obligated by law, regulation or executive order to close in London, England or in the City of
New York, United States. 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as
provided in the Indenture, be paid to the Person in whose name the relevant Security (or any Predecessor Security) is registered at the close of business on the Regular Record Date (as defined in the Second Supplemental Indenture) for such interest.

 No repayment of the principal amount of the Securities or payment of interest on the Securities shall become due and payable after the
exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority, unless such repayment or payment would be permitted to be made by the Company under the laws and regulations of the United Kingdom
and the European Union applicable to the Company. 
 Payments of principal of and interest, if any, on the Securities shall be made in such
coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts and such payments shall be made through one or more Paying Agents appointed under the Indenture to the Holder or
Holders of this Security. Initially, the Paying Agent for the Securities shall be The Bank of New York Mellon, London Branch, One Canada Square, London E14 5AL, United Kingdom and the Place of Payment in respect of the Securities shall be the
Corporate Trust Office of the Trustee, which as of the date hereof is hereby designated for purposes of the Securities initially as the office or agency of the Trustee located at said address. Initially, the Senior Debt Security Registrar for the
Securities shall be The Bank of New York Mellon SA/NV, Luxembourg Branch, 2-4 Rue Eugene Ruppert, Vertigo Building – Polaris, Luxembourg, 2453, Luxembourg (which location shall also be a Place of Payment
for purposes of Section 3.05(a) of the Base Indenture). The Company at any time and from time to time may change the Paying Agent or, subject to Section 9.01 of the Base Indenture, the Place of Payment, and the Senior Debt Security
Registrar without prior notice to the Holders of the Securities, and in such an event the Company may act as Paying Agent or Security Registrar. Payments of principal of and interest on the Securities shall be made by wire transfer of immediately
available funds; provided, however, that in the case of payments of principal, this Security is first surrendered to the Paying Agent. 

  
 C-4 

 This Security shall be governed by and construed in accordance with the laws of the State of New
York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.03(c) of the Base Indenture which shall be governed by and construed in accordance with English law. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture, as defined herein. 
 THIS SECURITY IS NOT A DEPOSIT AND IS NOT COVERED BY THE U.K.
FINANCIAL SERVICES COMPENSATION SCHEME OR INSURED BY THE UNITED STATES FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY OF THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof, directly or through an
Authenticating Agent, by manual signature of an authorized signatory, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 C-5 

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

 

							
	Dated:	 		 	BARCLAYS PLC
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:

  

							
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:

 Trustee’s Certificate of Authentication 

This is one of the Securities of the series designated herein referred to in the Indenture. 

 

							
	Dated:	 		 	THE BANK OF NEW YORK MELLON, as Trustee
				
		 		 	By:	 	  

		 		 		 	Authorized Signatory

 [Signature Page to Floating Rate Note Global Note No. [●]] 

 (Reverse of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities” and each, a
“Security”) issued and to be issued in one or more series under and governed by the Senior Debt Securities Indenture, dated as of January 17, 2018 (herein called the “Base Indenture”), between the Company and
The Bank of New York Mellon, London Branch, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture (as defined below)) as amended and supplemented by the Second Supplemental Indenture,
dated as of May 16, 2018 (the “Second Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), and reference is hereby made to the Indenture, the terms of which are incorporated herein
by reference, for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. Insofar as the provisions of the Indenture conflict with this Security, the Indenture shall control for purposes of this Security. 

This Security is one of the series designated on the face hereof, limited to an aggregate principal amount of $1,500,000,000, which amount may
be increased at the option of the Company if in the future it determines that it may wish to sell additional Securities of this series. References herein to “this series” mean the series designated on the face hereof. 

For purposes of this Security: 

“Interest Determination Date” means the second London Banking Day preceding the applicable Interest Reset Date; provided,
however, that the first Interest Determination Date shall be May 14, 2018. 
 “Interest Period” means the period
beginning on (and including) an Interest Payment Date and ending on (but not including) the next succeeding Interest Payment Date; provided that the first Interest Period will begin on and include May 16, 2018 and will end on (but not include)
August 16, 2018. 
 “Interest Reset Date” means every February 16, May 16, August 16 and
November 16 in each year, commencing on August 16, 2018; provided that the interest rate in effect from (and including) May 16, 2018 to (but excluding) the first Interest Reset Date will be the initial interest rate; provided that if
any Interest Reset Date falls on a day that is not a Business Day, the Interest Reset Date will be postponed to the next succeeding Business Day, except that if that Business Day falls in the next succeeding calendar month, the Interest Reset Date
will be the immediately preceding Business Day. 
 “London Banking Day” means any day on which dealings in U.S. dollars are
transacted in the London interbank market. 

  
 Exhibit C-7 

 The provisions set forth in Section 10.04 of the Base Indenture are applicable to this
Security. In addition, the Company agrees, to the extent the Company has actual knowledge of such information, to provide the Paying Agent with sufficient information about any modification to the terms of the Securities for the purposes of
determining whether FATCA Withholding Tax applies to any payment of principal or interest in the Securities. 
 The Company may redeem the
Securities pursuant to Section 2.04 of the Second Supplemental Indenture. The Company may also redeem the Securities pursuant to Section 11.09 of the Base Indenture and/or Section 2.05 of the Second Supplemental Indenture. Any
redemption of Securities by the Company is subject to the notice period and provisions set forth in Sections 11.02 and 11.04 of the Base Indenture and in Section 2.17 of the Second Supplemental Indenture, and to the conditions set forth in
Section 11.10 of the Base Indenture. 
 The Company may repurchase the Securities pursuant to Section 11.12 of the Base Indenture.

 All authority conferred or agreed to be conferred by each Holder and Beneficial Owner pursuant to this Security, including the consents
given by such Holder and Beneficial Owner, shall be binding upon the successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of such Holder and Beneficial Owner. 

The Securities shall constitute the Company’s direct, unconditional, unsecured and unsubordinated obligations and shall at all times rank
pari passu without any preference among themselves. In the event of a winding-up or administration of the Company, the Securities shall rank pari passu with all other outstanding unsecured and
unsubordinated obligations of the Company, present and future, except such obligations as are preferred by operation of law. 
 Subject to
applicable law, no Holder or Beneficial Owner of the Securities may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by the Company arising under, or
in connection with, the Securities and the Indenture and each Holder and Beneficial Owner shall, by virtue of its holding of any Security, be deemed to have waived all such rights of set-off, compensation or
retention. Notwithstanding the foregoing, if any amounts due and payable to any Holder or Beneficial Owner of the Securities by the Company in respect of, or arising under, the Securities or the Indenture are discharged by set-off, such Holder or Beneficial Owner shall, subject to applicable law immediately pay to the Company an amount equal to the amount of such discharge (or, in the event of its
winding-up or administration, the liquidator or administrator of the Company, as the case may be) and, until such time as payment is made, shall hold an amount equal to such amount in trust for the Company (or
the liquidator or administrator of the Company, as the case may be) and, accordingly, any such discharge shall be deemed not to have taken place. By its 

  
 Exhibit C-8 

 
acquisition of the Securities, each Holder and Beneficial Owner agrees to be bound by these provisions relating to waiver of set-off. No Holder of
Securities shall be entitled to proceed directly against the Company except as described in Section 5.07 of the Base Indenture. 
 This
Security is subject to the provisions regarding the U.K. Bail-in Power Acknowledgement set forth in Section 12.01 of the Base Indenture, subject to the provisions of Section 2.18 of the Second
Supplemental Indenture. 
 The Securities are subject to provisions set forth in Article 5 of the Base Indenture, provided that if
the inclusion of any of the “Events of Default” set forth in Section 5.01 of the Base Indenture in the terms of the Securities does, or would be likely to (in the opinion of the Company, the PRA or any other relevant national or
European authority), result in a Loss Absorption Disqualification Event (as defined in the Second Supplemental Indenture) following a Loss Absorption Regulations Event (as defined in the Second Supplemental Indenture) that occurs on or after the
Issue Date (as defined in the Second Supplemental Indenture), then the Company may, at the Company’s option, without the need for the Company to obtain any consent from any Holders of the Securities, determine that the terms of
Section 5.01, Section 5.02 and Section 5.03 (except for Section 5.03(c) and Section 5.03(f)) of the Base Indenture shall cease to apply to the Securities and shall be replaced in their entirety by the enforcement events and
remedies set forth in the second and third following paragraphs and as contemplated by Section 2.07 of the Second Supplemental Indenture (such replacement, an “Events of Default Substitution”). 

Any Events of Default Substitution will also be subject to the provisions of Section 2.08 and 2.09 of the Second Supplemental Indenture.
Following an Events of Default Substitution, the Securities will be subject to Section 2.10, Section 2.11, Section 2.12, Section 2.13, Section 2.14 and Section 2.15 of the Second Supplemental Indenture. 

Following an Events of Default Substitution, if a Winding-Up Event (as defined in the Second
Supplemental Indenture) occurs, the principal amount of this Security, together with any accrued but unpaid interest thereon, shall become immediately due and payable, without the need of any further action on the part of the Trustee, the Holders or
any other Person. 
 Following an Events of Default Substitution, if a Non-Payment Event (as defined
in the Second Supplemental Indenture) occurs, the Trustee may, at its discretion, and without further notice to the Company, institute proceedings in England (or such other jurisdiction in which the Company may be organized) (but not elsewhere) for
the winding-up of the Company and/or prove in a winding-up of the Company and/or claim in a liquidation or administration of the Company. 

Following an Events of Default Substitution, the Securities will also subject to the limitation of remedies provisions set forth in
Section 2.07 of the Second Supplemental Indenture. 

  
 Exhibit C-9 

 The Indenture permits the amendment thereof and the modification of the rights and obligations of
the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture as contemplated by Article 9 of the Base Indenture. To the extent required by the U.S. Trust Indenture Act of 1939, as amended, but
otherwise notwithstanding any other provision in this Security, the Holder of this Security shall have the right to receive (subject to Section 3.07 of the Base Indenture) payment of any principal of, and interest on, this Security when due
(or, in the case of redemption, on or after the Redemption Date), and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder or holder. 

This Security, and any other Securities of this series and of like tenor, are issuable only in registered form without coupons in initial
denominations of $200,000 and increments of $1,000 thereafter. The denominations cannot be changed without the consent of the Trustee. The provisions on registration, transfer, or exchange, of the Securities set forth in Section 3.05 of the
Base Indenture are applicable to the Securities. 
 No service charge shall be made for any such registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or
not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

This Security shall be governed by and construed in accordance with the laws of the State of New York, except for the waiver of set-off provisions referenced herein and set forth in Section 5.03(c) of the Base Indenture, which shall be governed by and construed in accordance with English law. 

  
 Exhibit C-10

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