Document:

Form of Medium-Term Notes

 Exhibit 4.1 
 [Face of Note] 
 Unless this certificate is presented by an
authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of
Cede & Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or 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. 
  

			
	 CUSIP NO. 94986RQF1
	  	PRINCIPAL AMOUNT: $                    
	REGISTERED NO.    	  	

 WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 
 Due Nine Months or More From Date of Issue 
 0% Optionally Exchangeable
Securities due June 5, 2020 
 Exchangeable for the Common Stock of Intel Corporation or the Cash Value of Such Stock

 WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of
Delaware (hereinafter called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or its registered assigns, in
such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts, an amount determined in accordance with the provisions set forth below under “Payment at Stated
Maturity” due with respect to the principal amount of
                                         
                                         
       DOLLARS ($                    ) on June 5, 2020 (the “Stated Maturity Date”),
subject to postponement due to the occurrence of a Market Disruption Event (as defined below) as set forth below under “Payment at Stated Maturity” unless and to the extent the Company has exercised the Redemption Right (as defined and
described below) or the Holder hereof has exercised the Exchange Right (as defined and described below). This Security shall not bear interest. 
 Any cash payable on this Security at Maturity shall be paid against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota
and any shares of Underlying Stock (as defined below) deliverable at Maturity shall be delivered against such presentation. Notwithstanding the foregoing, for so long as this Security is in the form of a Global Security registered in the name of the
Depositary, all payments on this Security in the form of cash will be made to the Depositary by wire transfer of immediately available funds, and any shares of Underlying Stock deliverable under the terms of this Security at Maturity will be
delivered to the Depositary through the book-entry facilities of the 

 
Depositary if such shares are then in book-entry form and, if such shares are then in definitive form, certificates representing such shares will be delivered pursuant to the Depositary’s
instructions. 
 Payment at Stated Maturity 
 On the Stated Maturity Date, for each $1,000 principal amount of this Security that has not been previously exchanged by the Holder hereof or redeemed by the Company, the Holder of this Security shall
receive an amount in cash equal to the greater of $1,000 and Parity, as determined on the fifth Trading Day (as defined below) prior to the Stated Maturity Date (the “Final Exchange Date”). “Parity” on any Trading
Day equals the Exchange Ratio (as defined below) multiplied by the Closing Price (as defined below) of the Underlying Stock, each determined as of such Trading Day by the Calculation Agent (as defined below). The “Underlying Stock”
is the common stock of Intel Corporation (the “Underlying Stock Issuer”). “Principal amount” shall mean, when used with respect to this Security, the amount set forth on the face of this Security as its
“Principal Amount.” 
 If a Market Disruption Event occurs or is continuing with respect to the
Underlying Stock on the Final Exchange Date and the Holder of this Security does not exercise the Exchange Right (as defined below) with respect to the principal amount for which payment must be made by the Company on the Stated Maturity Date as
described in the immediately preceding paragraph, such Final Exchange Date, solely for purposes of determining Parity as described in the immediately preceding paragraph, will be postponed to the first succeeding Trading Day on which a Market
Disruption Event has not occurred and is not continuing. If such first succeeding Trading Day has not occurred as of the eighth scheduled Trading Day after the scheduled Final Exchange Date, that eighth scheduled Trading Day shall be deemed the
Final Exchange Date. If the Final Exchange Date has been postponed eight scheduled Trading Days after the scheduled Final Exchange Date and such eighth scheduled Trading Day is not a Trading Day, or if a Market Disruption Event occurs or is
continuing with respect to the Underlying Stock on such eighth scheduled Trading Day, the Calculation Agent will determine the Closing Price of the Underlying Stock on such eighth scheduled Trading Day using its good faith estimate of the Closing
Price that would have prevailed for the Underlying Stock on such date. For the avoidance of doubt, in no circumstances will the Holder hereof have the right to exercise the Exchange Right on any date following the originally scheduled Final Exchange
Date. 
 If a Market Disruption Event has occurred or is continuing on the Final Exchange Date and the Holder of
this Security does not exercise the Exchange Right with respect to the principal amount for which payment must be made by the Company on the Stated Maturity Date as described in the second preceding paragraph, and such Final Exchange Date, for
purposes of determining Parity, is postponed so that it falls less than three Business Days (as defined below) prior to the Stated Maturity Date, the Stated Maturity Date will be postponed to the third Business Day following the Final Exchange Date
as postponed. 
 Exchange Right 
 Beginning July 12, 2013 to and including the earlier of (i) the Trading Day prior to the Redemption Notice Date (as defined below), if applicable, and (ii) the Final Exchange Date, the
Holder of this Security may exchange each $1,000 principal amount of this Security for a number of 

  
 2 

 
shares of Underlying Stock equal to the Exchange Ratio as it may have been adjusted through the Exchange Settlement Date (as defined below) (or, at the Company’s option, the cash value of a
number of shares of the Underlying Stock equal to the Exchange Ratio as it may have been adjusted through the Exchange Notice Date (as defined below), based on the Closing Price of the Underlying Stock on the Exchange Notice Date), subject to the
Company’s right to redeem this Security on any day from and including June 5, 2018. This right of the Holder of this Security to exchange this Security is referred to herein as the “Exchange Right.” 

The “Exchange Ratio” is equal to 34.633. The Exchange Ratio will remain constant for the term of this
Security unless adjusted for certain corporate events relating to, or dividend payments by, the issuer of the Underlying Stock. See “ — Adjustment Events” below. 

When the Holder of this Security exchanges this Security or any portion hereof, the Calculation Agent will determine the
exact number of shares of the Underlying Stock to be received by the Holder based on the principal amount of this Security exchanged and the Exchange Ratio as it may have been adjusted through the Exchange Settlement Date. Since this Security will
be held only in book-entry form, a beneficial owner of this Security may exercise the Exchange Right only by acting through its participant at DTC, whose nominee is the registered Holder of this Security. Accordingly, if a beneficial owner of this
Security desires to exchange all or any portion of this Security, such beneficial owner must instruct the participant through which it owns its interest to exercise the Exchange Right on its behalf. 

To exchange this Security or any portion hereof on any day, a beneficial owner of this Security or any portion hereof
must instruct its broker or other person with whom it holds its beneficial interest to take the appropriate steps through normal clearing system channels. A beneficial owner’s book-entry interest in this Security must be transferred to Wells
Fargo Bank, N.A., the Paying Agent, on the day the Company delivers shares or pays cash to the Holder hereof, as described below. In addition, a beneficial owner of this Security must give the Company notice of exchange as follows: 

 

	 	—	 	 fill out an Official Notice of Exchange, which is attached as Annex A hereto; and 

 

	 	—	 	 deliver such Official Notice of Exchange to the Company before 11:00 A.M., New York City time, on the day such beneficial owner notifies the Company
of its exercise of the Exchange Right (the “Exchange Notice Date”). 

 In
order to ensure that the instructions are received by the Company on a particular day, a beneficial owner of this Security must instruct the participant through which it owns its interest before that participant’s deadline for accepting
instructions from their customers. Different firms may have different deadlines for accepting instructions from their customers. Accordingly, a beneficial owner of this Security should consult the participant through which it owns its interest for
the relevant deadline. If the Company receives an Official Notice of Exchange after 11:00 A.M., New York City time, on any Trading Day or at any time on a day that is not a Trading Day, such notice will not become effective until the next Trading
Day, and such next Trading Day will be the Exchange Notice Date. All instructions given to the Company by participants on behalf of a beneficial owner relating to the right to exchange this Security will be irrevocable. In addition, at the time
instructions are given, a beneficial owner of this Security must direct the participant through 

  
 3 

 
which it owns its interest to transfer its book-entry interest in this Security, on DTC’s records, to the Paying Agent on the Company’s behalf. 

This Security must be exchanged in $1,000 minimum increments at a time. 

The Holder of this Security will no longer have the Exchange Right if the Company redeems this Security. 

Upon any such exchange, the Company may, at its sole option, either deliver such shares of the Underlying Stock or pay an
amount in cash equal to Parity on the Exchange Notice Date, as determined by the Calculation Agent, in lieu of the Underlying Stock. 
 The Company will, or will cause the Calculation Agent to, deliver such shares of the Underlying Stock or cash to the Paying Agent for delivery to the Holder of this Security on the third Business Day
after the Exchange Notice Date, upon delivery of this Security to the Paying Agent. The “Exchange Settlement Date” will be the third Business Day after the Exchange Notice Date, or, if later, the day on which this Security is
delivered to the Paying Agent. 
 If upon exchange of this Security or any portion hereof the Company delivers
shares of the Underlying Stock, the Company will pay cash in lieu of delivering any fractional share of the Underlying Stock in an amount equal to the value of such fractional shares based on the Closing Price of the Underlying Stock as determined
by the Calculation Agent on the Trading Day before the Exchange Settlement Date. 
 Redemption Right 

The Company may redeem this Security, in whole but not in part, for settlement on any day from and including June 5,
2018, to and including the Stated Maturity Date, for an amount in cash for each $1,000 principal amount of this Security equal to the greater of (i) $1,000 and (ii) Parity determined by the Calculation Agent on the Trading Day prior to the
Redemption Notice Date (the “Redemption Determination Date”). This right of the Company to redeem this Security is referred to herein as the “Redemption Right.” 

If the Company redeems this Security, the Company will specify the Redemption Date in its notice of redemption. The
“Redemption Date” will be 10 days following the day on which the Company gives its notice of redemption (the “Redemption Notice Date”), unless the 10th day following the Redemption Notice Date is not a Business Day, in which case the Redemption Date will be the
immediately following day that is a Business Day. 
 If the Company redeems this Security, the Holder of this
Security will no longer be able to exercise the Exchange Right. 
 Business Day Adjustments 

If the Stated Maturity Date, the Redemption Date or any Exchange Settlement Date is not a Business Day, any payments due
on this Security on such day will be made on the next succeeding Business Day with the same force and effect as if made on such day. 

  
 4 

 Certain Definitions 

“Business Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a
day on which banking institutions are authorized or required by law or regulation to close in New York, New York. 
 “Calculation Agent” shall mean the Person that has entered into the Calculation Agent Agreement with the Company, which term shall, unless the context otherwise requires, include its
successors under such Calculation Agent Agreement. The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agent Agreement, the Company may appoint a different Calculation Agent from time to time after the
initial issuance of this Security without the consent of the Holder of this Security and without notifying the Holder of this Security. 
 “Calculation Agent Agreement” shall mean the Calculation Agent Agreement dated as of May 29, 2012 between the Company and the Calculation Agent, as amended from time to time.

 The “Closing Price” for one share of the Underlying Stock (or one unit of any other security
for which a Closing Price must be determined) on any Trading Day means: 
  

	 	•	 	 if the Underlying Stock (or any such other security) is listed or admitted to trading on a national securities exchange (other than The NASDAQ Stock
Market LLC (the “NASDAQ”)), the last reported sale price, regular way, of the principal trading session on such day on the principal United States securities exchange registered under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), on which the Underlying Stock (or any such other security) is listed or admitted to trading; 

  

	 	•	 	 if the Underlying Stock (or any such other security) is a security of the NASDAQ, the official closing price published by the NASDAQ on such day; or

  

	 	•	 	 if the Underlying Stock (or any such other security) is not listed or admitted to trading on any national securities exchange but is included in the
OTC Bulletin Board Service (the “OTC Bulletin Board”) operated by the Financial Industry Regulatory Authority, Inc. (the “FINRA”), the last reported sale price of the principal trading session on the OTC Bulletin
Board on such day. 

 If the Underlying Stock (or any such other security) is listed or
admitted to trading on any national securities exchange but the last reported sale price or the official closing price published by the NASDAQ, as applicable, is not available pursuant to the preceding sentence, then the Closing Price for one share
of the Underlying Stock (or one unit of any such other security) on any Trading Day will mean the last reported sale price of the principal trading session on the over-the-counter market as reported on the NASDAQ or the OTC Bulletin Board on such
day. 
 If the last reported sale price or the official closing price published by the NASDAQ, as applicable,
for the Underlying Stock (or any such other security) is not available pursuant to either of the two preceding sentences, then the Closing Price per share for any Trading Day will be the mean, as determined by the Calculation Agent, of the bid price
for the Underlying Stock (or any 

  
 5 

 
such other security) obtained from as many recognized dealers in such security, but not exceeding three, as will make such bid prices available to the Calculation Agent. Bids of Wells Fargo
Securities, LLC or any of its affiliates may be included in the calculation of such mean, but only to the extent that any such bid is the highest of the bids obtained. The term “OTC Bulletin Board Service” will include any successor
service thereto. 
 A “Market Disruption Event” means the occurrence or existence of any of the
following events: 
  

	 	•	 	 a suspension, absence or material limitation of trading in the Underlying Stock on its primary market for more than two hours of trading or during
the one-half hour before the close of trading in that market, as determined by the Calculation Agent in its sole discretion; 

  

	 	•	 	 a suspension, absence or material limitation of trading in option or futures contracts relating to the Underlying Stock, if available, in the
primary market for those contracts for more than two hours of trading or during the one-half hour before the close of trading in that market, as determined by the Calculation Agent in its sole discretion; 

 

	 	•	 	 the Underlying Stock does not trade on the New York Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market or what was the
primary market for the Underlying Stock, as determined by the Calculation Agent in its sole discretion; or 

  

	 	•	 	 any other event, if the Calculation Agent determines in its sole discretion that the event materially interferes with the Company’s ability or
the ability of any of its affiliates to unwind all or a material portion of a hedge with respect to this Security that the Company or its affiliates have effected or may effect. 

The following events will not be Market Disruption Events: 

 

	 	•	 	 a limitation on the hours or number of days of trading in the Underlying Stock in its primary market, but only if the limitation results from an
announced change in the regular business hours of the relevant market; and 

  

	 	•	 	 a decision to permanently discontinue trading in the option or futures contracts relating to the Underlying Stock. 

For this purpose, a “suspension, absence or material limitation of trading” in the applicable market will not
include any time when that market is itself closed for trading under ordinary circumstances. In contrast, a “suspension, absence or material limitation of trading” in the applicable market for the Underlying Stock or option or futures
contracts relating to the Underlying Stock, as applicable, by reason of any of: 
  

	 	•	 	 a price change exceeding limits set by that market; 

 

	 	•	 	 an imbalance of orders relating to the Underlying Stock or those contracts; or 

  
 6 

	 	•	 	 a disparity in bid and asked quotes relating to the Underlying Stock or those contracts 

will constitute a “suspension, absence or material limitation of trading” in the Underlying Stock or those contracts, as the
case may be, in the applicable market. 
 A “Trading Day” means a day, as determined by the
Calculation Agent, on which trading is generally conducted on the principal trading market for the Underlying Stock (as determined by the Calculation Agent, in its sole discretion), the Chicago Mercantile Exchange and the Chicago Board Options
Exchange and in the over-the-counter market for equity securities in the United States. 
 Calculation Agent 

All determinations made by the Calculation Agent with respect to this Security will be at the sole discretion of the
Calculation Agent and, in the absence of manifest error, will be conclusive for all purposes and binding on the Company and the Holder of this Security. All percentages and other amounts resulting from any calculation with respect to this Security
will be rounded at the Calculation Agent’s discretion. 
 Events of Default and Acceleration 

In case an Event of Default, as defined in the Indenture, with respect to this Security has occurred and is continuing,
the amount payable to the Holder of this Security upon any acceleration permitted by this Security, with respect to each $1,000 principal amount of this Security, will be equal to the greater of (i) $1,000 and (ii) Parity determined by the
Calculation Agent on the date of acceleration. 
 Adjustment Events 

The Exchange Ratio of the Underlying Stock is subject to adjustment by the Calculation Agent as a result of the dilution
and reorganization events described in this section. 
 How adjustments will be made 

If one of the events described below occurs with respect to the Underlying Stock and the Calculation Agent determines
that the event has a dilutive or concentrative effect on the market price of that Underlying Stock, the Calculation Agent will calculate a corresponding adjustment to the Exchange Ratio for that Underlying Stock as the Calculation Agent deems
appropriate to account for that dilutive or concentrative effect. For example, if an adjustment is required because of a two-for-one stock split, then the Exchange Ratio for that Underlying Stock will be adjusted by the Calculation Agent by
multiplying the existing Exchange Ratio by a fraction whose numerator is the number of shares of the Underlying Stock outstanding immediately after the stock split and whose denominator is the number of shares of the Underlying Stock outstanding
immediately prior to the stock split. Consequently, the Exchange Ratio will be adjusted to double the prior Exchange Ratio, due to the corresponding decrease in the market price of the Underlying Stock. Adjustments will be made for events with an
effective date or Ex-Dividend Date (as defined below), as applicable, from but excluding June 5, 2013 to and including (i) if the Holder hereof exercises the Exchange Right and the Company delivers shares of Underlying Stock to the Holder
hereof on an Exchange 

  
 7 

 
Settlement Date, such Exchange Settlement Date or (ii) in all other circumstances, the Exchange Notice Date, the Redemption Determination Date or the Final Exchange Date, as applicable (the
“Adjustment Period”). 
 The Calculation Agent will also determine the effective date of that
adjustment, and the replacement of the Underlying Stock, if applicable, in the event of a consolidation or merger or certain other events in respect of the Underlying Stock Issuer. Upon making any such adjustment, the Calculation Agent will give
notice as soon as practicable to the Trustee and the Paying Agent, stating the adjustment to the Exchange Ratio. In no event, however, will an antidilution adjustment to the Exchange Ratio during the term of this Security be deemed to change the
principal amount of this Security. 
 If more than one event requiring adjustment occurs with respect to the
Underlying Stock, the Calculation Agent will make an adjustment for each event in the order in which the events occur, and on a cumulative basis. Thus, having made an adjustment for the first event, the Calculation Agent will adjust the Exchange
Ratio for the second event, applying the required adjustment to the Exchange Ratio as already adjusted for the first event, and so on for any subsequent events. 

For any dilution event described below, other than a consolidation or merger, the Calculation Agent will not have to
adjust the Exchange Ratio unless the adjustment would result in a change to the Exchange Ratio then in effect of at least 0.10%. The Exchange Ratio resulting from any adjustment will be rounded up or down, as appropriate, to the nearest one-hundred
thousandth. 
 If an event requiring an antidilution adjustment occurs, the Calculation Agent will make the
adjustment with a view to offsetting, to the extent practical, any change in the economic position of the Holder of this Security relative to this Security that results solely from that event. The Calculation Agent may, in its sole discretion,
modify the antidilution adjustments as necessary to ensure an equitable result. 
 The Calculation Agent will
make all determinations with respect to antidilution adjustments, including any determination as to whether an event requiring adjustment has occurred, as to the nature of the adjustment required and how it will be made or as to the value of any
property distributed in a Reorganization Event (as defined below), and will do so in its sole discretion. In the absence of manifest error, those determinations will be conclusive for all purposes and will be binding on the Holder of this Security
and the Company, without any liability on the part of the Calculation Agent. The Holder of this Security will not be entitled to any compensation from the Company for any loss suffered as a result of any of these determinations by the Calculation
Agent. The Calculation Agent will provide information about the adjustments that it makes upon the written request of the Holder of this Security. 
 If any of the adjustments specified below is required to be made with respect to an amount or value of any cash or other property that is distributed by an Underlying Stock Issuer organized outside the
United States, such amount or value will be converted to U.S. dollars, as applicable, and will be reduced by any applicable foreign withholding taxes that would apply to such distribution if such distribution were paid to a U.S. person that is
eligible for the benefits of an applicable income tax treaty, if any, between the United States and the jurisdiction of organization of the Underlying Stock Issuer, as determined by the Calculation Agent, in its sole discretion. 

  
 8 

 No adjustments will be made for certain other events, such as offerings of
common stock by the Underlying Stock Issuer for cash or in connection with the occurrence of a partial tender or exchange offer for the Underlying Stock by the Underlying Stock Issuer or any other person. 

Ordinary Dividend Adjustments 
 In addition to any adjustments to the Exchange Ratio described herein, the Exchange Ratio will be adjusted for changes in the regular quarterly cash dividend payable to holders of the Underlying Stock
relative to the Base Quarterly Dividend (as defined below). If the Underlying Stock Issuer pays a regular quarterly cash dividend for which the Ex-Dividend Date is within the Adjustment Period and the amount of such regular quarterly cash dividend
(the “Current Quarterly Dividend”) is greater than or less than the Base Quarterly Dividend, the Exchange Ratio will be adjusted (an “Ordinary Dividend Adjustment”) on such Ex-Dividend Date so that the new Exchange
Ratio will equal the prior Exchange Ratio multiplied by the Ordinary Dividend Adjustment Factor. If the Underlying Stock Issuer declares that it will pay no dividend in any quarter, other than in connection with a Payment Period Adjustment, an
adjustment will be made in accordance with this paragraph on the date corresponding to the Ex-Dividend Date in the immediately prior dividend payment period during which a regular quarterly cash dividend was paid. If a Reorganization Event occurs,
no Ordinary Dividend Adjustment will be made in respect of any New Stock, Successor Stock or Replacement Stock (each as defined below). 
 The “Ordinary Dividend Adjustment Factor” will equal a fraction, the numerator of which is the Closing Price of the Underlying Stock on the Trading Day preceding the Ex-Dividend Date for
the payment of the Current Quarterly Dividend (such Closing Price, the “Ordinary Dividend Base Closing Price”), and the denominator of which is the amount by which the Ordinary Dividend Base Closing Price of the Underlying Stock on
the Trading Day preceding the Ex-Dividend Date exceeds the Dividend Differential. 
 The “Dividend
Differential” equals the amount of the Current Quarterly Dividend minus the Base Quarterly Dividend. 

The “Base Quarterly Dividend” means a quarterly dividend of $0.225 per share; provided that
(i) if there occurs any corporate event that requires an adjustment to the Exchange Ratio as described herein or (ii) the Underlying Stock Issuer effects a change in the periodicity of its dividend payments (e.g., from quarterly payments
to semi-annual payments) (a “Payment Period Adjustment”), then in each case the Calculation Agent will make an appropriate adjustment to the Base Quarterly Dividend with a view to offsetting, to the extent practical, any change in
the economic position of the Holder of this Security relative to this Security that results solely from that event. 
 Stock Splits and
Reverse Stock Splits 
 A stock split is an increase in the number of a corporation’s outstanding
shares of stock without any change in its stockholders’ equity. Each outstanding share will be worth less as a result of a stock split. 

  
 9 

 A reverse stock split is a decrease in the number of a corporation’s
outstanding shares of stock without any change in its stockholders’ equity. Each outstanding share will be worth more as a result of a reverse stock split. 

If the Underlying Stock is subject to a stock split or a reverse stock split, then once the split has become effective
the Calculation Agent will adjust the Exchange Ratio for that Underlying Stock to equal the product of the prior Exchange Ratio for that Underlying Stock and the number of shares issued in such stock split or reverse stock split with respect to one
share of that Underlying Stock. 
 Stock Dividends 

In a stock dividend, a corporation issues additional shares of its stock to all holders of its outstanding stock in
proportion to the shares they own. Each outstanding share will be worth less as a result of a stock dividend. 

If the Underlying Stock is subject to a stock dividend payable in shares of such stock that is given ratably to all
holders of shares of that Underlying Stock, then once the dividend has become effective the Calculation Agent will adjust the Exchange Ratio for that Underlying Stock on the Ex-Dividend Date to equal the sum of the prior Exchange Ratio for that
Underlying Stock and the product of: 
  

	 	—	 	 the number of shares issued with respect to one share of that Underlying Stock, and 

 

	 	—	 	 the prior Exchange Ratio for that Underlying Stock. 

The “Ex-Dividend Date” for any dividend or other distribution is the first day on and after which the
Underlying Stock trades without the right to receive that dividend or distribution. 
 No Adjustments for Other Dividends and
Distributions 
 The Exchange Ratio will not be adjusted to reflect dividends, including cash dividends,
or other distributions paid with respect to the Underlying Stock, other than: 
  

	 	—	 	 Ordinary Dividend Adjustments described above, 

  

	 	—	 	 stock dividends described above, 

  

	 	—	 	 issuances of transferable rights and warrants as described in “ — Transferable Rights and Warrants” below,

  

	 	—	 	 distributions that are spin-off events described in “ — Reorganization Events” below, and 

 

	 	—	 	 Extraordinary Dividends described below. 

 An “Extraordinary Dividend” means each of (a) the full amount per share of the Underlying Stock of any cash dividend or special dividend or distribution that is identified by the
Underlying 

  
 10 

 
Stock Issuer as an extraordinary or special dividend or distribution, (b) the excess of any cash dividend or other cash distribution (that is not otherwise identified by the Underlying Stock
Issuer as an extraordinary or special dividend or distribution) distributed per share of the Underlying Stock over the immediately preceding cash dividend or other cash distribution, if any, per share of the Underlying Stock that did not include an
Extraordinary Dividend (as adjusted for any subsequent corporate event requiring an adjustment as described herein, such as a stock split or reverse stock split) if such excess portion of the dividend or distribution is more than 5.00% of the
Closing Price of that Underlying Stock on the Trading Day preceding the Ex-Dividend Date for the payment of such cash dividend or other cash distribution (such Closing Price, the “Extraordinary Dividend Base Closing Price”) and
(c) the full cash value of any non-cash dividend or distribution per share of the Underlying Stock (excluding Marketable Securities, as defined below). 
 If the Underlying Stock is subject to an Extraordinary Dividend, then once the Extraordinary Dividend has become effective the Calculation Agent will adjust the Exchange Ratio for the Underlying Stock on
the Ex-Dividend Date to equal the product of: 
  

	 	—	 	 the prior Exchange Ratio for the Underlying Stock, and 

 

	 	—	 	 a fraction, the numerator of which is the Extraordinary Dividend Base Closing Price of the Underlying Stock on the Trading Day preceding the
Ex-Dividend Date and the denominator of which is the amount by which the Extraordinary Dividend Base Closing Price of the Underlying Stock on the Trading Day preceding the Ex-Dividend Date exceeds the Extraordinary Dividend.

 Notwithstanding anything herein, the initiation by the Underlying Stock Issuer of an
ordinary dividend on the Underlying Stock or any announced increase in the ordinary dividend on the Underlying Stock will not constitute an Extraordinary Dividend requiring an adjustment. 

To the extent an Extraordinary Dividend is not paid in cash or is paid in a currency other than U.S. dollars, the value
of the non-cash component or non-U.S. currency will be determined by the Calculation Agent, in its sole discretion. A distribution on the Underlying Stock that is a dividend payable in shares of that Underlying Stock, an issuance of rights or
warrants or a spin-off event and also an Extraordinary Dividend will result in an adjustment to the number of shares of the Underlying Stock only as described in “—Stock Dividends” above, “—Transferable Rights and
Warrants” below or “—Reorganization Events” below, as the case may be, and not as described here. 
 Transferable
Rights and Warrants 
 If the Underlying Stock Issuer issues transferable rights or warrants to all
holders of the Underlying Stock to subscribe for or purchase that Underlying Stock at an exercise price per share that is less than the Closing Price of that Underlying Stock on the Trading Day before the Ex-Dividend Date for the issuance, then the
Exchange Ratio for that Underlying Stock will be adjusted to equal the product of: 
  

	 	—	 	 the prior Exchange Ratio for that Underlying Stock, and 

  
 11 

	 	—	 	 a fraction, (1) the numerator of which will be the number of shares of that Underlying Stock outstanding at the close of trading on the Trading
Day before the Ex-Dividend Date (as adjusted for any subsequent event requiring an adjustment hereunder) plus the number of additional shares of that Underlying Stock offered for subscription or purchase pursuant to the rights or warrants and
(2) the denominator of which will be the number of shares of that Underlying Stock outstanding at the close of trading on the Trading Day before the Ex-Dividend Date (as adjusted for any subsequent event requiring an adjustment hereunder) plus
the number of additional shares of that Underlying Stock (referred to herein as the “Additional Shares”) that the aggregate offering price of the total number of shares of that Underlying Stock so offered for subscription or
purchase pursuant to the rights or warrants would purchase at the Closing Price on the Trading Day before the Ex-Dividend Date for the issuance. 

The number of Additional Shares will be equal to: 

 

	 	—	 	 the product of (1) the total number of additional shares of that Underlying Stock offered for subscription or purchase pursuant to the rights
or warrants and (2) the exercise price of the rights or warrants, divided by 

  

	 	—	 	 the Closing Price of that Underlying Stock on the Trading Day before the Ex-Dividend Date for the issuance. 

If the number of shares of the Underlying Stock actually delivered in respect of the rights or warrants differs from the
number of shares of the Underlying Stock offered in respect of the rights or warrants, then the Exchange Ratio for that Underlying Stock will promptly be readjusted to the Exchange Ratio for that Underlying Stock that would have been in effect had
the adjustment been made on the basis of the number of shares of the Underlying Stock actually delivered in respect of the rights or warrants. 

Reorganization Events 
 Each of the following is a “Reorganization Event”: 
  

	 	—	 	 the Underlying Stock is reclassified or changed (other than in a stock split or reverse stock split), 

 

	 	—	 	 the Underlying Stock Issuer has been subject to a merger, consolidation or other combination and either is not the surviving entity or is the
surviving entity but all outstanding shares of the Underlying Stock are exchanged for or converted into other property, 

  

	 	—	 	 a statutory share exchange involving outstanding shares of the Underlying Stock and the securities of another entity occurs, other than as part of
an event described above, 

  

	 	—	 	 the Underlying Stock Issuer sells or otherwise transfers its property and assets as an entirety or substantially as an entirety to another entity,

  
 12 

	 	—	 	 the Underlying Stock Issuer effects a spin-off, other than as part of an event described above (in a spin-off, a corporation issues to all holders
of its common stock equity securities of another issuer), or 

  

	 	—	 	 the Underlying Stock Issuer is liquidated, dissolved or wound up or is subject to a proceeding under any applicable bankruptcy, insolvency or other
similar law, or another entity completes a tender or exchange offer for all the outstanding shares of the Underlying Stock. 

 Adjustments for Reorganization Events 
 If a
Reorganization Event occurs, then the Calculation Agent will adjust the Exchange Ratio to reflect the amount and type of property or properties—whether cash, securities, other property or a combination thereof—that a holder of one share of
the Underlying Stock would have been entitled to receive in relation to the Reorganization Event. This new property is referred to as the “Reorganization Property.” 

Reorganization Property can be classified into two categories: 

 

	 	—	 	 an equity security listed on a national securities exchange, which is generally referred to as a “Marketable Security” and, in
connection with a particular Reorganization Event, “New Stock,” which may include any tracking stock, spinoff stock or any Marketable Security received in exchange for the Underlying Stock; and 

 

	 	—	 	 cash and any other property, assets or securities other than Marketable Securities (including equity securities that are not listed, that are traded
over the counter or that are listed on a non-U.S. securities exchange), which is referred to as “Non-Stock Reorganization Property.” 

For the purpose of making an adjustment required by a Reorganization Event, the Calculation Agent, in its sole
discretion, will determine the value of each type of the Reorganization Property. For purposes of valuing any New Stock, the Calculation Agent will use the Closing Price of the security on the relevant Trading Day. The Calculation Agent will value
Non-Stock Reorganization Property in any manner it determines, in its sole discretion, to be appropriate. In connection with a Reorganization Event in which Reorganization Property includes New Stock, for the purpose of determining the Exchange
Ratio for any New Stock as described below, the term “New Stock Reorganization Ratio” means the product of (i) the number of shares of the New Stock received with respect to one share of the Underlying Stock and (ii) the
Exchange Ratio for the Underlying Stock on the Trading Day immediately prior to the effective date of the Reorganization Event. 
 If a holder of shares of the Underlying Stock may elect to receive different types or combinations of types of Reorganization Property in the Reorganization Event, the Reorganization Property will consist
of the types and amounts of each type distributed to a holder of shares of that Underlying Stock that makes no election, as determined by the Calculation Agent in its sole discretion. 

  
 13 

 If any Reorganization Event occurs, then on and after the effective date for
such Reorganization Event (or, if applicable, in the case of spinoff stock, the Ex-Dividend Date for the distribution of such spinoff stock) the term “Underlying Stock” herein will be deemed to mean the following, and for each share
of Underlying Stock, New Stock and/or Replacement Stock so deemed to constitute Underlying Stock, the Exchange Ratio will be equal to the applicable number indicated: 
  

	 	(a)	 if the Underlying Stock continues to be outstanding: 

 

	 	(1)	 that Underlying Stock (if applicable, as reclassified upon the issuance of any tracking stock) at the Exchange Ratio in effect for that Underlying
Stock on the Trading Day immediately prior to the effective date of the Reorganization Event; and 

  

	 	(2)	 if the Reorganization Property includes New Stock, a number of shares of New Stock equal to the New Stock Reorganization Ratio;

 provided that, if any Non-Stock Reorganization Property is received in the
Reorganization Event, the results of (a)(1) and (a)(2) above will each be multiplied by the “Gross-Up Multiplier,” which will be equal to a fraction, the numerator of which is the Closing Price of the Underlying Stock on the Trading
Day immediately prior to the effective date of the Reorganization Event and the denominator of which is the amount by which such Closing Price of the Underlying Stock exceeds the value of the Non-Stock Reorganization Property received per share of
Underlying Stock as determined by the Calculation Agent as of the close of trading on such Trading Day; or 
  

	 	(b)	 if the Underlying Stock is surrendered for Reorganization Property: 

 

	 	(1)	 that includes New Stock, a number of shares of New Stock equal to the New Stock Reorganization Ratio; provided that, if any Non-Stock
Reorganization Property is received in the Reorganization Event, such number will be multiplied by the Gross-Up Multiplier; or 

  

	 	(2)	 that consists exclusively of Non-Stock Reorganization Property: 

 

	 	(i)	 if the surviving entity has Marketable Securities outstanding following the Reorganization Event and either (A) such Marketable Securities were
in existence prior to such Reorganization Event or (B) such Marketable Securities were exchanged for previously outstanding Marketable Securities of the surviving entity or its predecessor (“Predecessor Stock”) in connection
with such Reorganization Event (in either case of (A) or (B), the “Successor Stock”), a number of shares of the Successor Stock determined by the Calculation Agent on the Trading Day immediately prior to the effective date of
such Reorganization Event equal to the Exchange Ratio in effect for the Underlying Stock on the Trading Day immediately prior to the effective date of such Reorganization Event multiplied by a fraction, the numerator of which is the value of the
Non-Stock Reorganization Property per share of the Underlying Stock on 

  
 14 

	 	 
such Trading Day and the denominator of which is the Closing Price of the Successor Stock on such Trading Day (or, in the case of Predecessor Stock, the Closing Price of the Predecessor Stock
multiplied by the number of shares of the Successor Stock received with respect to one share of the Predecessor Stock); or 

  

	 	(ii)	 if the surviving entity does not have Marketable Securities outstanding, or if there is no surviving entity (in each case, a “Replacement
Stock Event”), a number of shares of Replacement Stock (selected as defined below) with an aggregate value on the effective date of such Reorganization Event equal to the value of the Non-Stock Reorganization Property multiplied by the
Exchange Ratio in effect for the Underlying Stock on the Trading Day immediately prior to the effective date of such Reorganization Event. 

 If a Reorganization Event occurs with respect to the shares of the Underlying Stock and the Calculation Agent adjusts the Exchange Ratio to reflect the Reorganization Property in the event as described
above, the Calculation Agent will make further antidilution adjustments for any later events that affect the Reorganization Property, or any component of the Reorganization Property, comprising the new Exchange Ratio. The Calculation Agent will do
so to the same extent that it would make adjustments if the shares of that Underlying Stock were outstanding and were affected by the same kinds of events. If a subsequent Reorganization Event affects only a particular component of the number of
shares of that Underlying Stock, the required adjustment will be made with respect to that component as if it alone were the number of shares of that Underlying Stock. 

For purposes of adjustments for Reorganization Events, in the case of a consummated tender or exchange offer or
going-private transaction involving Reorganization Property of a particular type, Reorganization Property will be deemed to include the amount of cash or other property paid by the offeror in the tender or exchange offer with respect to such
Reorganization Property (in an amount determined on the basis of the rate of exchange in such tender or exchange offer or going-private transaction). In the event of a tender or exchange offer or a going-private transaction with respect to
Reorganization Property in which an offeree may elect to receive cash or other property, Reorganization Property will be deemed to include the kind and amount of cash and other property received by offerees who elect to receive cash. 

Replacement Stock Events 
 Following the occurrence of a Replacement Stock Event described in paragraph (b)(2)(ii) above or in “—Delisting of American Depositary Shares or Termination of American Depositary Receipt
Facility” below, the amount of shares of the Underlying Stock or cash, as applicable, payable on this Security upon exchange or redemption or at Maturity will be determined by reference to a Replacement Stock and an Exchange Ratio (subject to
any further antidilution adjustments) for such Replacement Stock as determined in accordance with the following paragraphs. 

  
 15 

 The “Replacement Stock” will be the stock having the
closest “Option Period Volatility” to the Underlying Stock among the stocks that then comprise the Replacement Stock Selection Index (or, if publication of such index is discontinued, any successor or substitute index selected by the
Calculation Agent in its sole discretion) with the same GICS Code (as defined below) as the Underlying Stock Issuer; provided, however, that a Replacement Stock will not include (i) any stock that is subject to a trading restriction under the
trading restriction policies of the Company, the hedging counterparties of the Company or any of their affiliates that would materially limit the ability of the Company, the hedging counterparties of the Company or any of their affiliates to hedge
this Security with respect to such stock or (ii) any stock for which the aggregate number of shares to be referenced (equal to the product of (a) the Exchange Ratio that would be in effect immediately after selection of such stock as the
Replacement Stock and (b) the principal amount of this Security outstanding divided by $1,000) exceeds 25% of the ADTV (as defined in Rule 100(b) of Regulation M under the Exchange Act) for such stock as of the effective date of the
Replacement Stock Event (an “Excess ADTV Stock”). 
 If a Replacement Stock is selected in
connection with a Reorganization Event, the Exchange Ratio with respect to such Replacement Stock will be equal to the number of shares of such Replacement Stock with an aggregate value, based on the Closing Price on the effective date of such
Reorganization Event, equal to the product of (a) the value of the Non-Stock Reorganization Property received per share of Underlying Stock and (b) the Exchange Ratio in effect for the Underlying Stock on the Trading Day immediately prior
to the effective date of such Reorganization Event. If Replacement Stock is selected in connection with an ADS Termination Event (as defined below), the Exchange Ratio with respect to such Replacement Stock will be equal to the number of shares of
such Replacement Stock with an aggregate value, based on the Closing Price on the Change Date (as defined below), equal to the product of (x) the Closing Price of the Underlying Stock on the Change Date and (y) the Exchange Ratio in effect
for the Underlying Stock on the Trading Day immediately prior to the Change Date. 
 The “Option Period
Volatility” means, in respect of any Trading Day, the volatility (calculated by referring to the Closing Price of the Underlying Stock on its primary exchange) for a period equal to the 125 Trading Days immediately preceding the
announcement date of the Reorganization Event, as determined by the Calculation Agent. 
 “GICS
Code” means the Global Industry Classification Standard (“GICS”) sub-industry code assigned to the Underlying Stock Issuer; provided, however, if (i) there is no other stock in the Replacement Stock Selection Index in
the same GICS sub-industry or (ii) a Replacement Stock (a) for which there is no trading restriction and (b) that is not an Excess ADTV Stock cannot be identified from the Replacement Stock Selection Index in the same GICS
sub-industry, the GICS Code will mean the GICS industry code assigned to the Underlying Stock Issuer. If no GICS Code has been assigned to the Underlying Stock Issuer, the applicable GICS Code will be determined by the Calculation Agent to be the
GICS sub-industry code assigned to companies in the same sub-industry (or, subject to the proviso in the preceding sentence, industry, as applicable) as the Underlying Stock Issuer at the time of the relevant Replacement Stock Event. 

The “Replacement Stock Selection Index” means the S&P 500® Index. 

  
 16 

 Delisting of American Depositary Shares or Termination of American
Depositary Receipt Facility. If the Underlying Stock is an ADS and the Underlying Stock is no longer listed or admitted to trading on a U.S. securities exchange registered under the Exchange Act or included in the OTC Bulletin Board Service
operated by the FINRA, or if the American depositary receipt facility between the Underlying Stock Issuer and the depositary is terminated for any reason (each, an “ADS Termination Event”), then, on the last Trading Day on which the
Underlying Stock is listed or admitted to trading or the last Trading Day immediately prior to the date of such termination, as applicable (the “Change Date”), a Replacement Stock Event shall be deemed to occur. 

 
  

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. 
 Unless the certificate
of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not be
entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 [The remainder of this page has been
left intentionally blank] 

  
 17 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal. 
 DATED:
                     
  

					
	WELLS FARGO & COMPANY
		
	By:	 	 
		
		 	 
		 	 Its:
	 	 

 [SEAL] 
  

					
	Attest:	 	 
		
		 	 
		 	 Its:
	 	 

 TRUSTEE’S CERTIFICATE OF 

AUTHENTICATION 

This is one of the Securities of the 
 series designated therein described 
 in the within-mentioned Indenture.

 CITIBANK, N.A., 
 as Trustee 
  

			
		
	By:	 	 
		 	 Authorized Signature

 OR 
  

			
	 WELLS FARGO BANK, N.A.,
   as Authenticating Agent for the Trustee

		
	By:	 	 
		 	 Authorized Signature

  
 18 

 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES K

 Due Nine Months or More From Date of Issue 
 0% Optionally Exchangeable Securities due June 5, 2020 
 Exchangeable
for the Common Stock of Intel Corporation or the Cash Value of Such Stock 
 This Security is one of a duly
authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein
called the “Indenture”), between the Company and Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities
are, and are to be, authenticated and delivered. This Security is one of the series of the Securities designated as Medium-Term Notes, Series K, of the Company, which series is limited to an aggregate principal amount or face amount, as applicable,
of $25,000,000,000 or the equivalent thereof in one or more foreign or composite currencies. The amount payable on the Securities of this series may be determined by reference to the performance of one or more equity-, commodity- or currency-based
indices, exchange traded funds, securities, commodities, currencies, statistical measures of economic or financial performance, or a basket comprised of two or more of the foregoing, or any other market measure or may bear interest at a fixed rate
or a floating rate. The Securities of this series may mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all and be denominated in different currencies.

 Article Sixteen of the Indenture shall not apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either (a) book-entry securities
represented by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities issued to and registered in the names of, the beneficial owners or their nominees. 

The Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious
rates of interest against a Holder of this Security. 
 Modification and Waivers 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the Holders of 

  
 19 

 
the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at
the time Outstanding of all series to be affected, acting together as a class. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by
certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and
their consequences may be waived under the Indenture by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Solely for the purpose of
determining whether any consent, waiver, notice or other action or Act to be taken or given by the Holders of Securities pursuant to the Indenture has been given or taken by the Holders of Outstanding Securities in the requisite aggregate principal
amount, the principal amount of this Security will be deemed to be equal to the amount set forth on the face hereof as the “Principal Amount” hereof. Any such consent or waiver by the Holder of this Security shall be conclusive and binding
upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

 Defeasance 
 Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating to defeasance at any time of (a) the entire
indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein, shall not apply to this Security. The remaining provisions of
Section 401 of the Indenture shall apply to this Security. 
 Authorized Denominations 

This Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess
thereof which is an integral multiple of $1,000. 
 Registration of Transfer 

Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of
Minneapolis, Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the
Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 

This Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the
Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not
appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form
and notifies the Trustee thereof or (z) an Event of Default with respect 

  
 20 

 
to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in
registered form, having the same date of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 
 This Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above, owners of beneficial interests in this Global Security will not be entitled to receive physical delivery of Securities in
definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 
 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. 

Obligation of the Company Absolute 
 No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to make the payments on
this Security at the times, place and rate, and in the coin or currency or shares of Underlying Stock, as the case may be, herein prescribed, except as otherwise provided in this Security. 
 No Personal Recourse 
 No recourse shall be had for
the payment of amounts payable on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or
director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the
acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 Defined Terms

 All terms used in this Security which are defined in the Indenture shall have the meanings assigned
to them in the Indenture unless otherwise defined in this Security. 
 Governing Law 

This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to
principles of conflicts of laws. 

  
 21 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though
they were written out in full according to applicable laws or regulations: 
  

					
	 TEN COM
	  	 --
	  	 as tenants in common

			
	 TEN ENT
	  	 --
	  	 as tenants by the entireties

			
	 JT TEN
	  	 --
	  	 as joint tenants with right
 of survivorship and not
 as tenants in common

  

							
	 UNIF GIFT MIN ACT --  
	  	 	  	 Custodian  
	  	 
		  	(Cust)	  		  	(Minor)

 Under Uniform Gifts to Minors Act 
  

 

(State) 
 Additional abbreviations may also be used though not in the above list. 
 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
 Please Insert
Social Security or 
 Other Identifying Number of Assignee 
  

 
  

	
	
	 
	
	 
	
	 
	(PLEASE PRINT OR TYPE NAME AND ADDRESS
INCLUDING POSTAL ZIP CODE OF ASSIGNEE)

  
 22 

 the within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute
and appoint                                      attorney to
transfer the said Security on the books of the Company, with full power of substitution in the premises. 
  

			
		
	Dated:	 	 
		 	

  

	
	
	 
	
	 

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of
the within instrument in every particular, without alteration or enlargement or any change whatever. 

  
 23 

 Annex A 
 OFFICIAL NOTICE OF EXCHANGE 
 Dated: On or after July 12, 2013

  

			
	 Wells Fargo & Company
 375 Park Avenue, 4th Floor
 MAC J0127-045

New York, NY 10152

Facsimile No: (212) 214-5913
 Telephone No: (212) 214-6101

Attention: Derivatives Structuring Group
	  	 Wells Fargo Securities, LLC
 c/o Investment Solutions
 375 Park Avenue, 2nd Floor

MAC J0127-027

New York, NY 10152

Facsimile No: (212) 214-8917
 Telephone No: (212) 214-6274
 Attention: Meghan Brudie

 Dear Sirs or Madams: 
 The undersigned beneficial owner of the Medium-Term Notes, Series K, 0% Optionally Exchangeable Securities due June 5, 2020 of Wells Fargo & Company (CUSIP No. 94986RQF1) (the
“securities”) hereby irrevocably elects to exercise its exchange right with respect to the principal amount of the securities indicated below, as of the date hereof (or if this notice is received after 11:00 A.M., New York City
time, on any trading day or at any time on a day that is not a trading day, as of the next trading day), provided that such a day is on or after July 12, 2013, and is on or before the earlier of (i) the trading day prior to the redemption
notice date, if applicable, and (ii) the fifth trading day before the stated maturity date. The exchange right is to be exercised as described under “Specific Terms of the Securities — Exchange Right” in the pricing supplement
dated June 5, 2013 (the “pricing supplement”) relating to Registration Statement No. 333-180728. Terms not defined in this notice shall have their respective meanings as described in the pricing supplement. 

Please (i) date and acknowledge receipt of this Official Notice of Exchange in the place provided below, and (ii) fax a copy to
the fax number indicated. The amount of any such cash payment will be determined by the calculation agent and indicated in its acknowledgment of this Official Notice of Exchange. Wells Fargo will then deliver, in its sole discretion, the shares of
the underlying stock, or an equivalent amount in cash based on the value thereof, on the third business day after the exchange notice date, in accordance with the terms of the securities as described in the pricing supplement. 

The undersigned certifies to you that (i) it is, or is duly authorized to act for, the beneficial owner of the securities to be
exchanged (and attaches evidence of such ownership as provided by the undersigned’s position services department or the position services department of the entity through which the undersigned holds its securities) and (ii) it will cause
the principal amount of securities to be exchanged to be transferred to the paying agent on the exchange settlement date. 

 
			
	 Very truly yours,

		
	 	 	 
	 Name of Beneficial Owner

	
	 By:

	 	 	 
	 Name

		
	 	 	 
	 Title and/or Organization

		
	 	 	 
	 Fax No./Direct No.

	 $
	 	 
	 Principal amount of securities to be surrendered for exchange

		
	 	 	 
	 Please specify: Exchange Notice Date

 Receipt of the above 
 Official Notice of Exchange is hereby acknowledged. 

			
	 WELLS FARGO & COMPANY, as issuer

		
	 By:
	 	
		 	 Title:

Date and time of acknowledgment              
                
  

			
	 WELLS FARGO SECURITIES, LLC, as Calculation Agent

		
	 By:
	 	
		 	 Title:

Date and time of acknowledgment              
                

  
 Annex A-2EX-4.2

 Exhibit 4.2 
 EXECUTION VERSION 
 VIPER US MERGERCO 1
CORP., 
 as successor by merger to Virgin Media Inc., 
 LIBERTY GLOBAL PLC 
 and 

THE BANK OF NEW YORK MELLON, 
 as Trustee 
  

 
 Supplemental
Indenture 
 Dated as of June 7, 2013 

 
  

6.50% Convertible Senior Notes due 2016 

 SUPPLEMENTAL INDENTURE, dated as of June 7, 2013 (this “Supplemental
Indenture”), among Viper US MergerCo 1 Corp., a Delaware corporation (“Viper Mergerco”), Liberty Global plc, a U.K. public limited company (“Liberty Global”), and The Bank of New York Mellon, a New York
banking corporation, as trustee (the “Trustee”). 
 RECITALS 

WHEREAS, Virgin Media Inc. (“VMI”) and the Trustee have entered into the Indenture, dated as of April 16, 2008 (the
“Original Indenture”), pursuant to which VMI issued the 6.50% Convertible Senior Notes due 2016; 
 WHEREAS,
through a series of mergers contemplated by an Agreement and Plan of Merger, dated as of February 5, 2013 (as amended from time to time, the “Merger Agreement”), among Liberty Global, Inc. (“LGI”), VMI, Liberty
Global, and certain other subsidiaries of LGI, VMI will undergo a merger (the “Merger”) as a result of which Viper Mergerco shall become the successor to VMI in accordance with Article 8 of the Original Indenture (the date and time
of the Merger, the “Merger Effective Time”) and shall become the “Company” for all purposes of the Original Indenture and this Supplemental Indenture (the Original Indenture, as amended and supplemented by this
Supplemental Indenture, is referred to herein as the “Indenture”). 
 WHEREAS, the consummation of the Merger
as contemplated by the Merger Agreement will constitute a Merger Event, a Fundamental Change and a Make-Whole Fundamental Change under the terms of the Original Indenture; 
 WHEREAS, immediately prior to the Merger Effective Time, Holders of Securities have the right to convert their Securities, on the terms and subject to the conditions of the Original Indenture, into shares
of Common Stock at the Conversion Rate of 52.0291 shares of Common Stock per $1,000 in principal amount of the Securities; 

WHEREAS, as of the Merger Effective Time and in accordance with Section 12.09 of the Original Indenture, the right of Holders of
Securities to convert each $1,000 in principal amount of Securities shall be changed to a right to convert such Securities by reference to the Reference Property that a holder of a number of shares of Common Stock equal to the Conversion Rate
immediately prior to the Merger would be entitled to receive in the Merger; 
 WHEREAS, under the terms of the Merger Agreement,
at the Merger Effective Time and by virtue of the Merger, each issued and outstanding share of Common Stock will be converted into the right to receive: (a) 0.2582 of a Class A Ordinary Share, nominal value $0.01 per share (the
“Class A Shares”), of Liberty Global; (b) 0.1928 of a Class C Ordinary Share, nominal value $0.01 per share (the “Class C Shares”), of Liberty Global; and (c) $17.50 in cash (without interest); 

WHEREAS, immediately following the Merger Effective Time and in accordance with Section 12.09 of the Original Indenture, the
Reference Property for each $1,000 in principal amount of the Securities to be converted will consist of 13.4339 Class A Shares, 10.0312 Class C Shares and $910.51 in cash (without interest); 

WHEREAS, Section 12.09 of the Original Indenture provides that if there shall occur a Merger Event, (a) VMI or the successor or
purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture providing for the conversion and settlement of the Securities as set forth in the Original Indenture and providing for adjustments which shall be as
nearly equivalent as may be practicable to the adjustments provided for in Article 12 of the Original Indenture and (b) if the Reference 

  
 1 

 
Property in such Merger Event includes shares of stock or other securities and assets of a company other than the successor or purchasing company, as the case may be, then such supplemental
indenture shall also be executed by such other company and shall contain such additional provisions to protect the interests of the Holders of the Securities as the Board of Directors shall reasonably consider necessary by reason thereof;

 WHEREAS, Section 9.01 of the Original Indenture provides that the Company, when authorized by a Board Resolution, and
the Trustee may enter into a supplemental indenture, without the consent of any Holders: (i) pursuant to clause (b) of Section 9.01, to provide for the assumption by a successor corporation of the Company’s obligations under the
Original Indenture, (ii) pursuant to clause (i) of Section 9.01, to make provision with respect to the conversion rights of Holders pursuant to the requirements of Article 12 of the Original Indenture; and (iii) pursuant to
clause (j) of Section 9.01, to make any change that does not adversely affect the rights of any Holder in any material respect; 
 WHEREAS, Viper Mergerco, as the successor corporation to VMI, and Liberty Global, as the issuer of the Class A Shares and the Class C Shares forming part of the Reference Property into which Holders
of Securities have to the right to convert their Securities from and after the Merger Effective Time, are entering into this Supplemental Indenture in accordance with Section 9.01(b), (i) and (j) and Section 12.09 of the Original
Indenture; and 
 WHEREAS, all requirements necessary to make this Supplemental Indenture a valid, binding and enforceable
instrument in accordance with its terms have been done and performed, and the execution and delivery of this Supplemental Indenture has been duly authorized in all respects. 
 NOW, THEREFORE, in consideration of the premises hereof, the parties have executed and delivered this Supplemental Indenture, and Viper Mergerco, Liberty Global and the Trustee agree for the benefit of
each other and for the equal and ratable benefit of the Holders, as follows: 
 SECTION 1. Capitalized Terms. 

Any capitalized term used and not otherwise defined herein shall have the meaning assigned to such term in the Original Indenture.

 SECTION 2. Assumption of Obligations. 
 From and after the Merger Effective Time, Viper Mergerco, as successor Person to VMI, shall assume and succeed to the obligation of the Company to make due and punctual payment of the principal of and
interest (including Additional Interest, if any) on all the Securities and the performance or observation of every covenant of the Indenture on the part of the Company to be performed or observed by it and shall further assume, subject to
Section 4(b) hereof, any ongoing obligations of VMI set forth in the Registration Rights Agreement. 
 SECTION 3.
Settlement upon Conversion. 
 From and after the Merger Effective Time, Holders of Securities shall have the right to
convert the Securities (pursuant to, and subject to the conditions of, the Indenture) into the following Reference Property (subject to further adjustment as provided in Article 12 of the Indenture): 

(a) with respect to each $1,000 in principal amount of Securities tendered for conversion, (i) 13.4339 Class A Shares;
(ii) 10.0312 Class C Shares; and (iii) $910.51 in cash (without interest). 

  
 2 

 (b) if a Holder elects to convert Securities “in connection with” (as such term is
defined in Section 12.01(e) of the Original Indenture) the Make-Whole Fundamental Change that occurs as a result of the Merger, as contemplated by Section 12.01(e) of the Original Indenture, then with respect to any conversion that occurs
during the period specified in Section 12.01(e) of the Original Indenture, the Reference Property shall be increased to consist of, in the aggregate, the following: with respect to each $1,000 in principal amount of Securities tendered for
conversion during such period, (i) 13.8302 Class A Shares; (ii) 10.3271 Class C Shares; and (iii) $937.37 in cash (without interest). This Section 3 is intended to satisfy the obligation of the Company to increase the
Conversion Rate by the Additional Shares pursuant to Section 12.01(e) of the Original Indenture with respect to the Make-Whole Fundamental Change that will occur as a result of the Merger. 

SECTION 4. Issuance of Shares; Registration. 
 In accordance with Section 12.09 of the Indenture, Liberty Global hereby agrees as follows: 
 (a) Liberty Global shall become a co-obligor of the Company under the Indenture solely with respect to: (i) the issuance of the Class A Shares and Class C Shares forming part of the Reference
Property that the Company determines to issue upon any conversion of Securities occurring on and after the Merger Effective Time, subject to and in accordance with the terms of the Indenture; and (ii) Sections 12.02(j), 12.06, 12.07 and the
last paragraph of Section 12.09 of the Indenture. 
 (b) Liberty Global shall use commercially reasonable efforts, to the
extent then permitted by the rules and interpretations of the Commission (or any successor thereto), to secure any registration with or approval of any governmental authority under any federal or state law that may be required before the
Class A Shares or the Class C Shares may be validly issued upon conversion of the Securities. In addition, and subject to the terms and conditions of the Indenture and the Registration Rights Agreement, Liberty Global shall assume the
obligations of the Company, and be entitled to exercise any and all of the Company’s rights, under the Registration Rights Agreement (but with respect to the Class A Shares and Class C Shares issuable upon conversion of the Securities
after the Merger Effective Time, and not with respect to registration of the Common Stock (as such term is defined in the Original Indenture)) to the extent necessary and appropriate to enable the Holders of Securities to recognize the benefit of
the registration rights granted thereunder. 
 (c) Liberty Global shall not have any responsibilities or obligations under the
Indenture except to the extent expressly set forth in this Section 4. 
 SECTION 5. Amendments to Original Indenture

 (a) For all purposes of the Indenture, this Supplemental Indenture and the Securities, the definitions of the following terms
in Section 1.01 of the Original Indenture are amended and restated to read in full as follows: 

“Alternative Issuer” has the meaning specified in Section 12.09. 

“Daily Conversion Value” of the Reference Property means, for each of the 30 consecutive VWAP Trading
Days during the Observation Period, one-thirtieth (1/30) of the product of (a) the applicable Conversion Rate and (b) the sum of (i) the product of 0.2582 times the Daily VWAP of the Class A Shares on such VWAP Trading Day,
(ii) the product of 0.1928 times the Daily VWAP of the Class C Shares on such VWAP Trading Day and (z) $17.50 (without interest), as determined by the Company. Any such determination shall be conclusive absent manifest error. 

  
 3 

 “Daily Settlement Amount” of the Reference Property means,
for each of the 30 VWAP Trading Days during the Observation Period, 
 (a) an amount of cash equal to the lesser
of (i) the quotient of the Specified Dollar Amount and 30 and (ii) the Daily Conversion Value relating to such VWAP Trading Day (in either case, the “Daily Cash Amount”); and 

(b) if such Daily Conversion Value exceeds the Daily Cash Amount, an amount of Reference Property (the
“Deliverable Reference Property”) equal to (i) the difference between such Daily Conversion Value and the Daily Cash Amount divided by (ii) the Reference Property Daily VWAP for such VWAP Trading Day. 

“Daily VWAP” of (a) the Class A Shares, means the per share volume-weighted average price as
displayed under the heading “Bloomberg VWAP” on Bloomberg page LBTYA <equity> AQR (or any equivalent successor page) and (b) the Class C Shares means, the per share volume-weighted average price as displayed under the heading
“Bloomberg VWAP” on Bloomberg page LBTYK <equity> AQR (or any equivalent successor page), in each case, in respect of the period from the scheduled open of trading on the principal trading market for the Class A Shares and the
Class C shares, respectively, to the scheduled close of trading on such market on such VWAP Trading Day, or if such volume-weighted average price of the Class A Shares or the Class B Shares is unavailable, the market value of one Class A
Share or Class C Share, as applicable, on such VWAP Trading Day using a volume-weighted method as determined by a nationally recognized independent investment banking firm retained for this purpose by the Company. 

“Deliverable Reference Property” has the meaning specified in the definition of Daily Settlement Amount.

 “Market Disruption Event” means (a) for the Class A Shares, the occurrence or
existence on any Scheduled Trading Day for the Class A Shares of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or otherwise) in the Class A Shares and
(b) for the Class C Shares, the occurrence or existence on any Scheduled Trading Day for the Class C Shares of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the stock exchange or
otherwise) in the Class C Shares, or in either case in any options contracts or futures contracts relating thereto, and such suspension or limitation occurs or exists at any time within the 30 minutes prior to the closing time of the relevant
exchange on such day. 
 “Scheduled Trading Day” means (a) for the Class A Shares, a
day that is scheduled to be a trading day on the principal U.S. national or regional securities exchange or market on which the Class A Shares are listed or admitted for trading or, if the Class A Shares are not listed or admitted for
trading on any exchange or market, a Business Day and (b) for the Class C Shares, a day that is scheduled to be a trading day on the principal U.S. national or regional securities exchange or market on which the Class C Shares are listed or
admitted for trading or, if the Class C Shares are not listed or admitted for trading on any exchange or market, a Business Day. 
 “Trading Day” means (a) for the Class A Shares, a day during which (i) trading in the Class A Shares generally occurs and (ii) there is no Market Disruption Event
in respect of the Class A Shares and (b) for the Class C Shares, a day during which (i) trading in the Class C Shares generally occurs and (ii) there is no Market Disruption Event in respect of the Class C Shares. 

  
 4 

 “VWAP Market Disruption Event” means (a) for the
Class A Shares, (i) a failure by the principal U.S. national or regional securities exchange or market on which the Class A Shares are listed or admitted to trading to open for trading during its regular trading session or
(ii) the occurrence or existence prior to 1:00 p.m. on any Scheduled Trading Day for the Class A Shares for an aggregate one half-hour period of any suspension or limitation imposed on trading, by reason of movements in price exceeding
limits permitted by the stock exchange or otherwise, in the Class A Shares or in any options contracts or futures contracts relating thereto, and (b) for the Class C Shares, (i) a failure by the principal U.S. national or regional
securities exchange or market on which the Class C Shares are listed or admitted to trading to open for trading during its regular trading session or (ii) the occurrence or existence prior to 1:00 p.m. on any Scheduled Trading Day for the Class
C Shares for an aggregate one half-hour period of any suspension or limitation imposed on trading, by reason of movements in price exceeding limits permitted by the stock exchange or otherwise, in the Class C Shares or in any options contracts or
futures contracts relating thereto. 
 “VWAP Trading Day” means (a) for the Class A
Shares, a day during which (i) trading in the Class A Shares generally occurs on the principal U.S. national or regional securities exchange or market on which such shares are listed or admitted for trading and (ii) there is no VWAP
Market Disruption Event in respect of the Class A Shares and (b) for the Class C Shares, a day during which (i) trading in the Class C Shares generally occurs on the principal U.S. national or regional securities exchange or market on
which such shares are listed or admitted for trading and (ii) there is no VWAP Market Disruption Event in respect of the Class C Shares. If either the Class A Shares or the Class C Shares, respectively, are not so listed or traded, then
the VWAP Trading Day as to such class of shares means a Business Day. 
 (b) For all purposes of the Indenture, this
Supplemental Indenture and the Securities, clause (5) of the definition of “Fundamental Change” in Section 1.01 of the Original Indenture is amended and restated to read in full as follows: 

“(5) if Class A Shares or Class C Shares or American Depositary Receipts in respect of Class A Shares or
Class C Shares forming part of the Reference Property into which the Securities are exchangeable or convertible pursuant to the terms of this Indenture, are not listed for trading on any of the New York Stock Exchange, the Global Market or the
NASDAQ Global Select Market (or any of their respective successors),” 
 (c) For all purposes of the Indenture and the
Securities, Section 1.01 of the Indenture is amended by adding the following defined terms: 

“Class A Shares” means the Class A Ordinary Shares, nominal value $.01 per share, of Liberty Global.

 “Class C Shares” means the Class C Ordinary Shares, nominal value $.01 per share, of Liberty
Global. 
 “Corporate Event” has the meaning specified in Section 12.09. 

“Liberty Global” means Liberty Global PLC, a U.K. public limited company. 

“Other Consideration” has the meaning specified in Section 12.09. 

  
 5 

 “Reference Property Daily VWAP” means, for each of the 30
consecutive VWAP Trading Days during the Observation Period, the sum of (a) the product of (i) the Daily VWAP for the Class A Shares times (ii) 0.2582, (b) the product of (i) the Daily VWAP for the Class C Shares times
(ii) 0.1928, and (c) $17.50 (without interest). 
 “Reference Property Value” means,
on any Trading Day, the sum of (x) the product of 0.2582 times the Last Reported Sale Price of the Class A Shares on such Trading Day, (y) the product of 0.1928 times the Last Reported Sale Price of the Class C Shares on such Trading
Day and (z) $17.50. 
 (d) Section 12.01(a)(i) is amended and restated to read in full as follows: 

“(i) The Securities shall be convertible prior to August 15, 2016, during the five Business Day period after any
five consecutive Trading Day period (as used in this Section 12.01(a)(i), the “Measurement Period”) in which the Trading Price per $1,000 in principal amount of the Securities for each Trading Day of such Measurement Period was
less than 98% of the product of the Reference Property Value on such Trading Day and the applicable Conversion Rate in effect on such Trading Day, as determined by the Conversion Agent and subject to compliance with the procedures and conditions
described below concerning the Conversion Agent’s obligation to make such determination (the “Trading Price Condition”). If a Holder provides the Company with written notice which includes reasonable evidence that the Trading
Price per $1,000 in principal amount of the Securities would be less than 98% of the product of (a) the applicable Conversion Rate of the Securities and (b) the Reference Property Value at such time, then the Company shall instruct the
Conversion Agent to determine the Trading Price beginning on the next Trading Day and on each successive Trading Day until the date on which the Trading Price per $1,000 in principal amount of the Securities is greater than or equal to 98% of the
product of (a) the applicable Conversion Rate of the Securities and (b) the Reference Property Value. Furthermore, if the Company does not, when obligated to do so pursuant to this clause (i), make a written request to the Conversion Agent
to determine the Trading Price of the Securities, or if the Company makes such request to the Conversion Agent and the Conversion Agent does not make such determination, then the Trading Price per $1,000 in principal amount of the Securities shall
be deemed to be less than 98% of the product of (a) the applicable Conversion Rate of the Securities and (b) the Reference Property Value on such date. 

If the Trading Price Condition has been met in accordance with the foregoing, the Company shall so notify the Holders of
the Securities and the Trustee. If, at any time after the Trading Price Condition has been met in accordance with the foregoing, the Trading Price per $1,000 in principal amount of the Securities is greater than or equal to 98% of the product of
(a) the applicable Conversion Rate of the Securities and (b) the Reference Property Value on such date, the Company shall so notify the Holders of the Securities and the Trustee, and the Company shall have no further obligation to
determine the Trading Price of the Securities unless requested to do so again in writing pursuant to this Section 12.01(a)(i).” 
 (e) Section 12.01(a)(ii) is amended by restating the first sentence thereof to read in its entirety as follows: 

“(ii) The Securities shall be convertible prior to August 15, 2016, during any calendar quarter (and only during
such calendar quarter), if the Reference Property Value for 20 or more Trading Days in a period of 30 consecutive Trading Days ending on the last Trading Day of the immediately preceding calendar quarter exceeds 120% of the applicable Conversion
Price in effect on the last Trading Day of the immediately preceding calendar quarter.” 

  
 6 

 (f) Sections 12.01(b)(i) and (ii) are amended and restated to read in their entirety as
follows: 
 “(b) In the event that Liberty Global elects to: 

(i) distribute to all or substantially all of the holders of Class A Shares or Class C Shares (or both) any rights or
warrants entitling them, for a period of not more than 45 calendar days after the date of the distribution, to subscribe for or purchase Class A Shares or Class C Shares at a price per share less than the Last Reported Sale Price of the
Class A Shares or Class C Shares, as the case may be, for the Trading Day immediately preceding the declaration date of such distribution; or 
 (ii) distribute to all or substantially all of the holders of Class A Shares or Class C Shares (or both) assets (including cash) or debt securities of Liberty Global or certain rights to purchase
Liberty Global’s securities (other than pursuant to a stockholders’ rights plan), which distribution has a per share value (as determined by the Board of Directors) exceeding 10% of the Last Reported Sale Price of the Class A Shares
or the Class C Shares, as the case may be, on the Trading Day immediately preceding the date of declaration of such distribution, 
 the Company shall notify Holders and the Trustee in writing with respect to any distribution referred to in either clause (i) or (ii) above and of the resulting conversion right no later than
the 35th Scheduled Trading Day prior to the Ex Date for such distribution. Once the Company has given such notice, Holders may surrender the Securities for conversion at any time until the earlier of (A) 5:00 p.m., New York City time, on the
Business Day immediately preceding the Ex Date for such distribution or (B) the date the Company announced that such distribution will not take place even if the Securities are not otherwise convertible at such time. A Holder may not exercise
this right if such Holder is permitted to participate (as a result of holding the Securities, and at the same time as holders of the Class A Shares or the Class C Shares, as the case may be, participate) in any distribution referred to in
clause (i) or clause (ii) above as if such Holder held a number of Class A Shares and Class C Shares equal to the number of Class A Shares and Class C Shares included in the Reference Property to which such Holder is entitled at
the applicable Conversion Rate, multiplied by the principal amount (expressed in thousands) of Securities held by such Holder, without having to convert its Securities.” 
 (g) Section 12.02(a) is amended and restated to read in full as follows: 
 “(a) The Company shall settle Securities tendered for conversion by delivering, as applicable: 
 (i) if the Company elects to settle a Conversion in the Reference Property, on the third Business Day immediately following the Conversion Date, an amount of Reference Property determined by reference to
the principal amount of Securities tendered for conversion, subject, in the case of the Class A Shares and Class C Shares included therein, to the adjustment provisions of Section 12.04 of the Indenture; 

(ii) if the Company elects to settle a Conversion in cash, on the third Business Day immediately following the last day of
the related Observation Period, for each $1,000 in principal amount of Securities tendered for conversion, cash in an amount equal to the sum of the Daily Conversion Values for each of the 30 VWAP Trading Days during the related Observation Period;
or 
 (iii) if the Company elects to settle a Conversion in a combination of cash and Reference Property, on the
third Business Day immediately following the last day of the related Observation 

  
 7 

 
Period, for each $1,000 in principal amount of Securities tendered for conversion, cash and Reference Property, if any, equal to the sum of the Daily Settlement Amounts for each of the 30 VWAP
Trading Days during the related Observation Period, 
 in each case subject, if applicable, to Section 12.02(c),
Section 12.03 and Section 12.09 hereof. The applicable settlement method for any particular conversion of Securities (pursuant to clause (i), (ii) or (iii) above) shall be determined pursuant to Section 12.02(b).
Class A Shares and Class C Shares delivered pursuant to this Section 12.02(a) shall be in the same proportions as such shares make up the Reference Property (as adjusted in accordance with Section 12.04 of the Indenture).”

 (h) Section 12.02(j) is amended and restated to read as follows: 

“(j) Notwithstanding anything to the contrary contained herein, if and to the extent that shareholder approval would
be required under the listing standards of the The NASDAQ Stock Market to issue additional Class A Shares and Class C Shares included in the Reference Property following adjustments set forth in this Indenture, Liberty Global will either obtain
shareholder approval or the Company will elect to settle for such additional shares by paying cash.” 
 (i)
Section 12.03 is amended and restated to read in full as follows: 
 “No fractional Class A Shares
or Class C Shares shall be issued upon conversion of any Security or Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon conversion thereof
shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share that would otherwise be issuable upon conversion of any Security or Securities (or
specified portions thereof), the Company shall calculate and pay a cash adjustment in respect of such fraction (calculated to the nearest 1/100th of a share) based on the applicable Daily VWAP on (x) the last VWAP Trading Day of the applicable
Observation Period in the case of conversions settled in accordance with clause (iii) of Section 12.02(a) above and (y) the Conversion Date (or, if the Conversion Date is not a Trading Day, the next following Trading Day) if the
Company elects to settle in accordance with clause (i) of Section 12.02(a) above.” 
 (j) Section 12.04 is
amended by inserting the following paragraph (m) at the end thereof: 
 “(m) If Liberty Global shall,
at any time or from to time, while any of the Securities are Outstanding, take any action of the type described in Section 12.04 with respect to the Class A Shares or Class C Shares, which, in either case, if taken with respect to the
Common Stock would have required an adjustment to the Conversion Rate, then the Company shall effect an adjustment to the number of Class A Shares or Class C Shares, as the case may be, included in the Reference Property so as to approximate,
in the reasonable judgment of the Board of Directors, the adjustment contemplated by Section 12.04, in each case taking into account the other provisions of Section 12.04 but applying such provisions to the number of Class A Shares or
Class C Shares included in the Reference Property rather than to the Common Stock and substituting Liberty Global for the Company. An adjustment to the number of Class A Shares and Class C Shares included in the Reference Property made pursuant
to the preceding sentence shall become effective on the date that such adjustment would have become effective had it been made to the Conversion Rate (and, if the Conversion Rate would have been readjusted as contemplated by Section 12.04, then
the number of Class A Shares and Class C Shares included in the Reference Property shall be readjusted so as to approximate, in the reasonable judgment of 

  
 8 

 
the Board of Directors, the readjustment of the Conversion Rate contemplated by Section 12.04). No adjustment will be made to the number of Class A Shares or Class C Shares included in
the Reference Property for actions taken by Liberty Global which, if taken with respect to the Common Stock, would not have required an adjustment to the Conversion Rate. No adjustment shall be made to the cash portion of the Reference Property by
virtue of an adjustment made to the Class A Shares or the Class C Shares included in the Reference Property due to an adjustment to the Class A Shares of the Class C Shares included therein pursuant to this Section 12.04(m), and no
interest shall be payable on the cash portion of the Reference Property.” 
 (k) Section 12.05 is amended and restated
to read in full as follows: 
 “Notice of Adjustments to Reference Property 

Whenever the number of Class A Shares and Class C Shares included in the Reference Shares is adjusted as herein in
provided: 
 (a) the Company shall compute the adjusted number of Class A Shares and Class C Shares included
in the Reference Property in accordance with Section 12.04 and shall prepare a certificate signed by an Officer of the Company setting forth the adjusted number of Class A Shares and Class C Shares included in the Reference Property and
showing in reasonable detail the facts upon which such adjustment is based, and such certificates shall promptly be filed with the Trustee and with each Conversion Agent (if other than the Trustee); and 

(b) upon each such adjustment, a notice stating that the number of Class A Shares and Class C Shares included in the
Reference Property has been adjusted and setting forth the composition of the adjusted Reference Property shall be required, and such notice shall be provided by the Company to all Holders in accordance with Section 1.06. 

Neither the Trustee nor any Conversion Agent shall be under any duty or responsibility with respect to any such
certificate or the information and calculations contained therein, except to exhibit the same to any Holder of Securities desiring inspection thereof at its office during normal business hours.” 

(l) Section 12.06 is amended and restated to read in full as follows: 

“Liberty Global shall at all times reserve and keep available, free from preemptive rights, out of its authorized but
unissued Class A Shares and Class C Shares, for the purpose of effecting the conversion of Securities, the maximum full number of Class A Shares and Class C Shares then issuable upon the conversion of all Outstanding Securities.”

 (m) Section 12.07 is amended and restated to read in full as follows: 

“Before taking any action which would cause an adjustment to the number of Class A Shares or Class C Shares
included in the Reference Property issuable upon conversion of the Securities, Liberty Global shall take all corporate action which it reasonably determines may be necessary in order that Liberty Global may validly and legally issue such
Class A Shares and Class C Shares included in the Reference Property. 
 Liberty Global covenants that all
Class A Shares and Class C Shares issued upon conversion of Securities shall be fully paid and non-assessable by Liberty Global and free from all taxes, liens and charges with respect to the issue thereof. 

  
 9 

 Liberty Global further covenants that if at any time the Class A Shares
and Class C Shares shall be listed for trading on any other national securities exchange Liberty Global shall, if permitted and required by the rules of such exchange, list and keep listed, so long as the Class A Shares and Class C Shares shall
be so listed on such exchange, the maximum number of Class A Shares and Class C Shares issuable upon conversion of the Securities.” 
 (n) Section 12.09 is amended by inserting the following paragraph at the end thereof: 
 “If there shall occur any consolidation, binding share exchange, recapitalization, reclassification, merger, combination or other similar event involving Liberty Global or any sale or conveyance of
all or substantially all of the property and assets of Liberty Global to any other Person (each, a “Corporate Event”), as a result of which the holders of the Class A Shares and Class C Shares shall be entitled to receive cash,
securities or other property or assets (“Other Consideration”) with respect to or in exchange for their Class A Shares and Class C Shares, then the Company and Liberty Global (or, if the Other Consideration includes shares of
stock or other securities and assets of a Person other than Liberty Global (an “Alternative Issuer”), then such Alternative Issuer) shall execute with the Trustee (subject to the Trustee’s rights as provided herein) a
supplemental indenture (which shall comply with the Trust Indenture Act as in force at the date of execution of such supplemental indenture if such supplemental indenture is then required to so comply) providing for the conversion of the Securities
into Reference Property that includes such Other Consideration in addition to or in lieu of the Class A Shares and Class C Shares forming part of the Reference Property immediately prior to such Corporate Event, as the case may be. If Other
Consideration includes shares of stock or other securities of an Alternative Issuer, then the supplemental indenture executed by the Alternative Issuer shall provide for adjustments to such stock or securities forming part of the Reference Property
which shall be as nearly equivalent as may be practicable to the adjustments provided in the Indenture with respect to the Class A Shares and Class C Shares forming part of the Reference Property, and the Alternative Issuer shall undertake as
to such stock or other securities the same obligations under the Indenture as apply, immediately prior to the applicable Corporate Event, to Liberty Global with respect to the Class A Shares and Class C Shares forming part of the Reference
Property. No adjustment to the Reference Property shall be made pursuant to this paragraph that would be duplicative with an adjustment made to the Reference Property in accordance with Section 12.04(m).” 

SECTION 6. Global Securities. 
 Each Global Security, with effect on and from the Merger Effective Time, shall be deemed supplemented, modified and amended in such manner as necessary to make the terms of such Global Security consistent
with the terms of the Indenture, as amended by this Supplemental Indenture. 
 SECTION 7. Ratification and Effect.

 Except as hereby expressly amended, the Original Indenture is in all respects ratified and confirmed and all the terms,
provisions and conditions thereof, including, without limitation, Section 12.10, shall be and remain in full force and effect. Upon and after the execution of this Supplemental Indenture, and the occurrence of the Merger Effective Time, the
Original Indenture shall be supplemented in accordance herewith, this Supplemental Indenture shall form a part of the Indenture for all purposes and each reference in the Original Indenture to the Indenture shall mean and be a reference to the
Original Indenture as modified hereby. 

  
 10 

 SECTION 8. Governing Law. 

This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York. This Supplemental
Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of this Supplemental Indenture and shall, to the extent applicable, be governed by such provisions. 

SECTION 9. The Trustee. 
 The recitals in the Supplemental Indenture shall be taken as the statements of the Company and Liberty Global, and the Trustee assumes no responsibility for their correctness. The Trustee shall not be
responsible or accountable in any manner whatsoever for or with respect to the validity or sufficiency of this Supplemental Indenture. The Trustee shall be under no duty whatsoever to make any determination whether any execution, modification,
amendment, supplement or confirmation to any document is necessary to implement such amendments and waivers, including those contained herein, and shall be entitled to conclusively rely on the documentation required to be provided under the terms of
the Indenture in a form reasonably satisfactory to the Trustee. 
 SECTION 10. Conflicts. 

To the extent of any inconsistency between the terms of the Indenture or the Global Securities and this Supplemental Indenture, the terms
of this Supplemental Indenture will control. 
 SECTION 11. Miscellaneous. 

This Supplemental Indenture constitutes the entire agreement of the parties hereto with respect to the amendments to the Indenture set
forth herein. All covenants and agreements in this Supplemental Indenture given by the parties hereto shall bind their successors. In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions hereof or of the Indenture shall not in any way be affected or impaired thereby. The section headings are for convenience only and shall not affect the construction hereof. The parties may sign
any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement, binding on the parties hereto. 

Signatures follow. 

  
 11 

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

			
	VIPER US MERGERCO 1 CORP.
		
	By:	 	  /s/ Bryan H. Hall

		 	Bryan H. Hall
		 	Executive Vice President and Secretary
	
	LIBERTY GLOBAL PLC
		
	By:	 	  /s/ Bryan H. Hall

		 	Bryan H. Hall
		 	Director
	
	 THE BANK OF NEW YORK MELLON,
 as Trustee

		
	By:	 	  /s/ Jaime Nielsen

		 	Jaime Nielsen
		 	Vice President

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