Document:

EX-10.13

 Exhibit 10.13 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT dated November 26, 2018 (this “Agreement”) is entered into by and
among Takeda Pharmaceutical Company Limited, a joint stock corporation organized under the laws of Japan (the “Company”), and J.P. Morgan Securities LLC (“J.P. Morgan”), SMBC Nikko Securities
America, Inc., Morgan Stanley MUFG Securities Co., Ltd., Mizuho Securities USA LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as representatives of the several initial purchasers named in Schedule A to the Purchase Agreement (as
defined below) (the “Initial Purchasers”). 
 The Company and the Initial Purchasers are parties to the
purchase agreement dated November 19, 2018 (the “Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of the Company’s $1,000,000,000 3.800% Senior Notes due 2020, $1,250,000,000 4.000%
Senior Notes due 2021, $1,500,000,000 4.400% Senior Notes due 2023 and $1,750,000,000 5.000% Senior Notes due 2028 (collectively, the “Securities”). As an inducement to the Initial Purchasers to enter into the Purchase Agreement,
the Company has agreed to provide to the Initial Purchasers and their direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase
Agreement. 
 In consideration of the foregoing, the parties hereto agree as follows: 

1.        Definitions. As used in this Agreement, the following terms shall
have the following meanings: 
 “Business Day” shall mean any day that is not a Saturday, Sunday or other
day on which commercial banks in New York City, London or Tokyo are authorized or required by law to remain closed. 

“Company” shall have the meaning set forth in the preamble and shall also include the Company’s
successors. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

 “Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof. 

“Exchange Offer” shall mean the exchange offer by the Company of Exchange Securities for Registrable
Securities pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration” shall mean a registration
under the Securities Act effected pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration
Statement” shall mean an exchange offer registration statement on Form F-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in
each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 

“Exchange Securities” shall mean senior notes issued by the Company under the Indenture containing terms
identical to the Securities (except that the Exchange Securities will not be subject to restrictions on transfer or to any increase in annual interest rate for failure to comply with this Agreement) and to be offered to Holders of Securities in
exchange for Securities pursuant to the Exchange Offer. 
 “FINRA” means the Financial Industry Regulatory
Authority, Inc. 
 “Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405
under the Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities or the Exchange Securities. 

 “Holders” shall mean the Initial Purchasers, for so long as
they own any Registrable Securities, and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture, in each case for so long as such person owns Registrable Securities;
provided that, for purposes of Section 4 and Section 5 hereof, the term “Holders” shall include Participating Broker-Dealers. 

“Indemnified Person” shall have the meaning set forth in Section 5(c) hereof. 

“Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof. 

“Indenture” shall mean the Indenture relating to the Securities dated as of November 26, 2018 between
the Company and MUFG Union Bank, N.A., as trustee, and as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the preamble. 

“Inspector” shall have the meaning set forth in Section 3(a)(xiv) hereof. 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof. 

“J.P. Morgan” shall have the meaning set forth in the preamble. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding
Registrable Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its
affiliates shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if the Company shall issue any additional Securities under the
Indenture prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which this Agreement relates shall be treated together as
one class for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 

“Notice and Questionnaire” shall mean a notice of registration statement and selling security holder
questionnaire distributed to a Holder by the Company upon receipt of a Shelf Request from such Holder. 

“Participating Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof. 

“Participating Holder” shall mean any Holder of Registrable Securities that has returned a completed and
signed Notice and Questionnaire to the Company in accordance with Section 2(b) hereof. 
 “Person”
shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

“Prospectus” shall mean the prospectus included in, or, pursuant to the rules and regulations of the
Securities Act, deemed a part of, a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the
offering of any portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein. 

“Purchase Agreement” shall have the meaning set forth in the preamble. 

“Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be
Registrable Securities (i) when a Registration Statement with respect to such Securities has become effective 

  
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under the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) when such Securities cease to be outstanding or
(iii) except in the case of Securities that otherwise remain Registrable Securities and that are held by an Initial Purchaser and that are ineligible to be exchanged in the Exchange Offer, when the Exchange Offer is consummated. 

“Registration Default” shall mean the occurrence of any of the following: (i) the Company has not filed
the Exchange Offer Registration Statement on or before the Target Registration Date, (ii) the Shelf Registration Statement, if required pursuant to Section 2(b)(i) or Section 2(b)(ii) hereof, has not become effective on or prior to 90
days after such Shelf Registration Statement filing obligation arises pursuant to Section 2(b)(i) or 2(b)(ii), (iii) if the Company receives a Shelf Request pursuant to Section 2(b)(iii), the Shelf Registration Statement required to be
filed thereby has not become effective by the later of (a) the 60th day following the Target Registration Date and (b) 90 days after delivery of such Shelf Request, (iv) the Shelf
Registration Statement, if required by this Agreement, has become effective and thereafter ceases to be effective or the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time during
the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 45 days (whether or not consecutive) in any 12-month period or (v) the Shelf Registration Statement, if
required by this Agreement, has become effective and thereafter, on more than two occasions in any 12-month period during the Shelf Effectiveness Period, the Shelf Registration Statement ceases to be effective
or the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement. 

“Registration Expenses” shall mean any and all expenses incident to performance of or compliance by the
Company with this Agreement, including without limitation: (i) all SEC, stock exchange or FINRA registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws
(including reasonable fees and disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification of any Exchange Securities or Registrable Securities), (iii) all expenses of any Persons in preparing or assisting in
preparing, word processing, printing and distributing any Registration Statement, any Prospectus, any Free Writing Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar
agreements and any other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities
laws and (vi) the fees and disbursements of the Trustee and its counsel, (vii) the fees and disbursements of counsel for the Company. 

“Registration Statement” shall mean any registration statement of the Company that covers any of the Exchange
Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or
deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 
 “SEC”
shall mean the United States Securities and Exchange Commission. 
 “Securities” shall have the meaning set
forth in the preamble. 
 “Securities Act” shall mean the Securities Act of 1933, as amended from time to
time. 
 “Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company that
covers all or a portion of the Registrable Securities (but no other securities unless approved by a majority in aggregate principal amount of the Securities held by the Participating Holders) on an appropriate form under Rule 415 under the
Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and 

  
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supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any
document incorporated by reference therein. 
 “Shelf Request” shall have the meaning set forth in
Section 2(b) hereof. 
 “Staff” shall mean the staff of the SEC. 

“Target Registration Date” shall mean August 23, 2019. 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time to time. 

“Trustee” shall mean the trustee with respect to the Securities under the Indenture. 

“Underwriter” shall have the meaning set forth in Section 3(e) hereof. 

“Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an Underwriter for
reoffering to the public. 
 2.        Registration Under the Securities Act.
(a) To the extent not prohibited by any applicable law, regulation or applicable interpretations of the Staff, the Company shall use its reasonable best efforts to (x) cause to be filed an Exchange Offer Registration Statement covering an
offer to the Holders to exchange all the Registrable Securities for Exchange Securities and (y) have such Registration Statement become and remain effective until 180 days after the last Exchange Date for use by one or more Participating
Broker-Dealers. The Company shall commence the Exchange Offer promptly after the Exchange Offer Registration Statement is declared effective by the SEC and use its reasonable best efforts to complete the Exchange Offer not later than 60 days after
such effective date. 
 The Company shall commence the Exchange Offer by mailing the related Prospectus, appropriate letters
of transmittal and other accompanying documents to each Holder stating, in addition to such disclosures as are required by applicable law (including the Companies Act of Japan, the Financial Instruments and Exchange Act of Japan) or necessary for
the Exchange Securities to qualify for an exemption from Japanese withholding tax, substantially the following: 
  

	(i)	 that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Securities validly
tendered and not properly withdrawn will be accepted for exchange; 

  

	(ii)	 the dates of acceptance for exchange (which shall be a period of at least 20 Business Days from the date
such notice is mailed) (the “Exchange Dates”); 

  

	(iii)	 that any Registrable Security not tendered will remain outstanding and continue to accrue interest but will
not retain any rights under this Agreement, except as otherwise specified herein; 

  

	(iv)	 that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer will be
required to (A) surrender such Registrable Security, together with the appropriate letters of transmittal, to the institution and at the address and in the manner specified in the notice, or (B) effect such exchange otherwise in compliance
with the applicable procedures of the depositary for such Registrable Security, in each case prior to the close of business on the last Exchange Date; and 

  

	(v)	 that any Holder will be entitled to withdraw its election, not later than the close of business on the last
Exchange Date, by (A) sending to the institution and at the address specified in the notice, a facsimile transmission or letter setting forth the name of such Holder, the principal amount of Registrable

  
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Securities delivered for exchange and a statement that such Holder is withdrawing its election to have such Securities exchanged or (B) effecting such withdrawal in compliance with the
applicable procedures of the depositary for the Registrable Securities. 

 As a condition to participating
in the Exchange Offer, a Holder will be required to represent to the Company that (1) any Exchange Securities to be received by it will be acquired in the ordinary course of its business, (2) at the time of the commencement of the Exchange
Offer it has no arrangement or understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (3) it is not an
“affiliate” (within the meaning of Rule 405 under the Securities Act) of the Company and (4) if such Holder is a broker-dealer that will receive Exchange Securities for its own account in exchange for Registrable Securities that were
acquired as a result of market-making or other trading activities, then such Holder will deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus to purchasers) in connection with any resale of such Exchange Securities.
A Holder will also be required to make any representations to the Company that are necessary for the Company to comply with applicable laws and regulations, including the Companies Act of Japan and the Financial Instruments and Exchange Act of
Japan, or that are necessary for the Exchange Securities to qualify for an exemption from Japanese withholding tax. 
 As
soon as practicable after the last Exchange Date, the Company shall: 
  

	(I)	 accept for exchange Registrable Securities or portions thereof validly tendered and not properly withdrawn
pursuant to the Exchange Offer; and 

  

	(II)	 deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or portions
thereof so accepted for exchange by the Company and issue, and cause the Trustee to authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities tendered by such Holder.

 The Company shall use its reasonable best efforts to complete the Exchange Offer as provided above and
shall comply with the applicable requirements of the Securities Act, the Exchange Act, the Companies Act of Japan, the Financial Instruments and Exchange Act of Japan and other applicable laws and regulations in connection with the Exchange Offer.
The Exchange Offer shall not be subject to any conditions, other than those necessary for the Exchange Offer or the Company to comply with any applicable laws and regulations, including the Companies Act of Japan and the Financial Instruments and
Exchange Act of Japan, or applicable interpretations of the Staff and those necessary for the Exchange Securities to qualify for an exemption from Japanese withholding tax. 

(b)      In the event that (i) the Company determines that the Exchange Offer Registration
provided for in Section 2(a) hereof is not available or the Exchange Offer may not be completed as soon as practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of the Staff or
because it would not be possible to conduct the Exchange Offer in a manner in which the Exchange Securities would qualify for an exemption from Japanese withholding tax, (ii) the Exchange Offer Registration Statement is not for any other reason
filed by the Target Registration Date or (iii) upon receipt of a written request (a “Shelf Request”) from any Initial Purchaser representing that it holds Registrable Securities that are or were ineligible to be exchanged in
the Exchange Offer, the Company shall use its reasonable best efforts to cause to be filed as soon as practicable after such determination, date or Shelf Request, as the case may be, a Shelf Registration Statement providing for the sale of all the
Registrable Securities by the Holders thereof and to have such Shelf Registration Statement become effective; provided that no Holder will be entitled to have any Registrable Securities included in any Shelf Registration Statement, or
entitled to use the prospectus forming a part of such Shelf Registration Statement, until such Holder shall have delivered a completed and signed Notice and Questionnaire and provided such other information regarding such Holder to the Company as is
contemplated by Section 3(b) hereof. 

  
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 In the event that the Company is required to file a Shelf Registration
Statement pursuant to clause (iii) of the preceding sentence, the Company shall use its reasonable best efforts to file and have become effective both an Exchange Offer Registration Statement pursuant to Section 2(a) hereof with respect to
all Registrable Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities held by the Initial Purchasers
after completion of the Exchange Offer. 
 The Company agrees to use its reasonable best efforts to keep the Shelf
Registration Statement continuously effective until the Securities cease to be Registrable Securities (the “Shelf Effectiveness Period”). The Company further agrees to supplement or amend the Shelf Registration Statement, the
related Prospectus and any Free Writing Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and
regulations thereunder or if reasonably requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use its reasonable best efforts to cause any such amendment to become effective, if required, and
such Shelf Registration Statement, Prospectus or Free Writing Prospectus, as the case may be, to become usable as soon as thereafter practicable. The Company agrees to furnish to the Participating Holders copies of any such supplement or amendment
promptly after its being used or filed with the SEC. 
 (c)       The Company shall pay
all Registration Expenses in connection with any registration pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to
the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 

(d)      An Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not
be deemed to have become effective unless it has been declared effective by the SEC. A Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC or
is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act. 
 If a Registration
Default occurs, the interest rate on the Registrable Securities will be increased by (i) 0.25% per annum for the first 90-day period beginning on the day immediately following such Registration Default and
(ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until and including the date such Registration Default ends, up to a maximum increase of 1.00% per
annum. A Registration Default ends when the Securities cease to be Registrable Securities or, if earlier, (1) in the case of a Registration Default under clause (i) of the definition thereof, when the Exchange Offer
Registration Statement is filed with the U.S. Securities and Exchange Commission, (2) in the case of a Registration Default under clause (ii) or clause (iii) of the definition thereof, when the Shelf Registration Statement becomes
effective or (3) in the case of a Registration Default under clause (iv) or clause (v) of the definition thereof, when the Shelf Registration Statement again becomes effective or the Prospectus again becomes usable. If at any time
more than one Registration Default has occurred and is continuing, then, until the next date that there is no Registration Default, the increase in interest rate provided for by this paragraph shall apply as if there occurred a single Registration
Default that begins on the date that the earliest such Registration Default occurred and ends on such next date that there is no Registration Default. 

(e)       Without limiting the remedies available to the Initial Purchasers and the
Holders, the Company acknowledges that any failure by the Company to comply with its obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which there
is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may obtain such relief as may be required to specifically
enforce the Company’s obligations under Section 2(a) and Section 2(b) hereof. 

  
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 3.        Registration
Procedures. (a) In connection with its obligations pursuant to Section 2(a) and Section 2(b) hereof, the Company shall as expeditiously as possible: 

(i)       prepare and file with the SEC a Registration Statement on the appropriate form
under the Securities Act, which form (A) shall be selected by the Company, (B) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the Holders thereof and (C) shall comply as to form
in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use its reasonable best efforts to cause such Registration Statement to become effective and
remain effective for the applicable period in accordance with Section 2 hereof; 

(ii)      prepare and file with the SEC such amendments and post-effective amendments to each
Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so
supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or
dealers with respect to the Registrable Securities or Exchange Securities; 
 (iii)     to the
extent any Free Writing Prospectus is used, file with the SEC any Free Writing Prospectus that is required to be filed by the Company with the SEC in accordance with the Securities Act and to retain any Free Writing Prospectus not required to be
filed; 
 (iv)     in the case of a Shelf Registration, furnish to each Participating Holder, to
counsel for the Initial Purchasers, to counsel for such Participating Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies of each Prospectus, preliminary prospectus or Free
Writing Prospectus, and any amendment or supplement thereto, as such Participating Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the Registrable Securities thereunder; and, subject to
Section 3(c) hereof, the Company consents to the use of such Prospectus, preliminary prospectus or such Free Writing Prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Participating Holders and
any such Underwriters in connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus, preliminary prospectus or such Free Writing Prospectus or any amendment or supplement thereto in
accordance with applicable law; 
 (v)      use its reasonable best efforts to register or
qualify the Registrable Securities under all applicable state securities or blue sky laws of such jurisdictions as any Participating Holder shall reasonably request in writing by the time the applicable Registration Statement becomes effective;
cooperate with such Participating Holders in connection with any filings required to be made with FINRA; and do any and all other acts and things that may be reasonably necessary or advisable to enable each Participating Holder to complete the
disposition in each such jurisdiction of the Registrable Securities owned by such Participating Holder; provided that the Company shall not be required to (1) qualify as a foreign corporation or other entity or as a dealer in securities
in any such jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such jurisdiction or (3) subject itself to taxation in any such jurisdiction if it is not so
subject; 
 (vi)     notify counsel for the Initial Purchasers and, in the case of a Shelf
Registration, notify each Participating Holder and counsel for such Participating Holders promptly and, if requested by any such Participating Holder or counsel, confirm such advice in writing (1) when a Registration Statement has become
effective, when any post-effective amendment thereto has been filed and becomes effective, when any Free Writing Prospectus has been filed or any amendment or supplement to the Prospectus or any Free Writing Prospectus has been filed, (2) of
any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement, Prospectus or any Free Writing Prospectus or for additional information 

  
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after the Registration Statement has become effective, (3) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration
Statement or the initiation of any proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule
401(g)(2) under the Securities Act, (4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company
contained in any underwriting agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such Registrable Securities cease to be true and correct in all material respects or if the Company receives any
notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (5) of the happening of any event during the period a Registration
Statement is effective that makes any statement made in such Registration Statement or the related Prospectus or any Free Writing Prospectus untrue in any material respect or that requires the making of any changes in such Registration Statement or
Prospectus or any Free Writing Prospectus in order to make the statements therein not misleading and (6) of any determination by the Company that a post-effective amendment to a Registration Statement or any amendment or supplement to the
Prospectus or any Free Writing Prospectus would be appropriate; 
 (vii)    use its reasonable best
efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2) under the Securities Act, including
by filing an amendment to such Registration Statement on the proper form, at the earliest possible moment and provide immediate notice to each Holder or Participating Holder of the withdrawal of any such order or such resolution; 

(viii)   in the case of a Shelf Registration, furnish to each Participating Holder, without charge, at least
one conformed copy of each Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless requested); 

(ix)     in the case of a Shelf Registration, cooperate with the Participating Holders to facilitate
the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable Securities to be issued in such denominations and registered in such names
(consistent with the provisions of the Indenture) as such Participating Holders may reasonably request at least one Business Day prior to the closing of any sale of Registrable Securities; 

(x)      upon the occurrence of any event contemplated by Section 3(a)(vi)(5) hereof, use
its reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to the applicable Exchange Offer Registration Statement or Shelf Registration Statement or the related Prospectus or any Free Writing Prospectus or
any document incorporated therein by reference or file any other required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such Prospectus or Free Writing
Prospectus, as the case may be, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the
Company shall notify the Participating Holders (in the case of a Shelf Registration Statement) and the Initial Purchasers and any Participating Broker-Dealers known to the Company (in the case of an Exchange Offer Registration Statement) to suspend
use of the Prospectus or any Free Writing Prospectus as promptly as practicable after the occurrence of such an event, and such Participating Holders, such Participating Broker-Dealers and the Initial Purchasers, as applicable, hereby agree to
suspend use of the Prospectus or any Free Writing Prospectus, as the case may be, until the Company has amended or supplemented the Prospectus or the Free Writing Prospectus, as the case may be, to correct such misstatement or omission; 

(xi)     a reasonable time prior to the filing of any Registration Statement, any Prospectus, any
Free Writing Prospectus, any amendment to a Registration Statement or amendment or supplement to a Prospectus or a Free Writing Prospectus or of any document that is to be incorporated by reference into a Registration

  
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Statement, a Prospectus or a Free Writing Prospectus after initial filing of a Registration Statement, provide copies of such document to the Initial Purchasers and their counsel (and, in the
case of a Shelf Registration Statement, to the Participating Holders and their counsel) and make such of the representatives of the Company as shall be reasonably requested by the Initial Purchasers or their counsel (and, in the case of a Shelf
Registration Statement, the Participating Holders or their counsel) available for discussion of such document; and the Company shall not, at any time after initial filing of a Registration Statement, use or file any Prospectus, any Free Writing
Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus or a Free Writing Prospectus, or any document that is to be incorporated by reference into a Registration Statement, a Prospectus or a Free Writing Prospectus, of
which the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their
counsel (and, in the case of a Shelf Registration Statement, the Participating Holders or their counsel) shall reasonably object; 

(xii)    obtain a CUSIP number for all Exchange Securities or Registrable Securities, as the case may be,
not later than the initial effective date of a Registration Statement; 
 (xiii)   cause the Indenture to be
qualified under the Trust Indenture Act in connection with the registration of the Exchange Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be
required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute, and use its reasonable best efforts to cause the Trustee to execute, all documents as may be required to effect such changes and all
other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner; 

(xiv)   in the case of a Shelf Registration, make available for inspection by a representative of the
Participating Holders (an “Inspector”), any Underwriter participating in any disposition pursuant to such Shelf Registration Statement, any attorneys and accountants designated by a majority in aggregate principal amount of the
Securities held by the Participating Holders and any attorneys and accountants designated by such Underwriter, at reasonable times and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company and its
subsidiaries, and cause the respective officers, directors and employees of the Company to supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with a Shelf Registration Statement;
provided that if any such information is identified by the Company as being confidential or proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the confidentiality of such
information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of any Inspector, Holder or Underwriter); 

(xv)    in the case of a Shelf Registration, use its reasonable best efforts to cause all Registrable
Securities to be listed on any securities exchange or any automated quotation system on which similar securities issued by the Company are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy applicable
listing requirements; 
 (xvi)   if reasonably requested by any Participating Holder, promptly include in a
Prospectus supplement or post-effective amendment such information with respect to such Participating Holder as such Participating Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or such
post-effective amendment as soon as the Company has received notification of the matters to be so included in such filing; 

(xvii)  in the case of a Shelf Registration, enter into such customary agreements and take all such other actions in
connection therewith (including those requested by the Holders of a majority in principal amount of the Registrable Securities covered by the Shelf Registration Statement) in order to expedite or facilitate the disposition of such Registrable
Securities including, but not limited to, an Underwritten Offering and in such connection, (1) to the extent possible, make such representations and warranties to the Participating Holders and 

  
 9 

 
any Underwriters of such Registrable Securities with respect to the business of the Company and its subsidiaries and the Registration Statement, Prospectus, any Free Writing Prospectus and
documents incorporated by reference or deemed incorporated by reference, if any, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if and when requested,
(2) obtain opinions of counsel to the Company (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to the Participating Holders and such Underwriters and their respective counsel) addressed to each
Participating Holder and Underwriter of Registrable Securities, covering the matters customarily covered in opinions requested in underwritten offerings, (3) obtain “comfort” letters from the independent registered public accountants
of the Company (and, if necessary, any other registered public accountant of any subsidiary of the Company, or of any business acquired by the Company for which financial statements and financial data are or are required to be included in the
Registration Statement) addressed to each Participating Holder (to the extent permitted by applicable professional standards) and Underwriter of Registrable Securities, such letters to be in customary form and covering matters of the type
customarily covered in “comfort” letters in connection with underwritten offerings, including but not limited to financial information contained in any preliminary prospectus, Prospectus or Free Writing Prospectus and (4) deliver such
documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence the
continued validity of the representations and warranties of the Company made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in an underwriting agreement; and 

(b)      In the case of a Shelf Registration Statement, the Company may require each Holder of
Registrable Securities to furnish to the Company a Notice and Questionnaire and such other information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company may from time to time reasonably
request in writing. 
 (c)       Each Participating Holder agrees that, upon receipt of
any notice from the Company of the happening of any event of the kind described in Section 3(a)(vi)(3) or Section 3(a)(vi)(5) hereof, such Participating Holder will forthwith discontinue disposition of Registrable Securities pursuant to
the Shelf Registration Statement until such Participating Holder’s receipt of the copies of the supplemented or amended Prospectus and any Free Writing Prospectus contemplated by Section 3(a)(x) hereof and, if so directed by the Company,
such Participating Holder will deliver to the Company all copies in its possession, other than permanent file copies then in such Participating Holder’s possession, of the Prospectus and any Free Writing Prospectus covering such Registrable
Securities that is current at the time of receipt of such notice. 
 (d)      If the Company
shall give any notice to suspend the disposition of Registrable Securities pursuant to a Registration Statement, the Company shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement by
the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus or any Free
Writing Prospectus necessary to resume such dispositions. The Company may give any such notice only twice during any 365-day period and any such suspensions shall not exceed 30 days for each suspension and
there shall not be more than two suspensions in effect during any 365-day period. 

(e)       The Participating Holders who desire to do so may sell such Registrable
Securities in an Underwritten Offering. In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”) that will administer the offering will be selected by the Holders of
a majority in principal amount of the Registrable Securities included in such offering. 

4.        Participation of Broker-Dealers in Exchange Offer. (a) The Staff
has taken the position that any broker-dealer that receives Exchange Securities for its own account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making or other trading activities (a

  
 10 

 
“Participating Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of
the Securities Act in connection with any resale of such Exchange Securities. 
 The Company understands that it is the
Staff’s position that if the Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the
Exchange Securities, without naming the Participating Broker-Dealers or specifying the amount of Exchange Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available
to purchasers) to satisfy their prospectus delivery obligation under the Securities Act in connection with resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 

(b)      In light of the above, and notwithstanding the other provisions of this Agreement, the
Company agrees to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period of up to 180 days after the last Exchange Date (as such period may be extended pursuant to Section 3(d) hereof), in order
to expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above. The Company further agrees that Participating Broker-Dealers shall be
authorized to deliver such Prospectus (or, to the extent permitted by law, make available) during such period in connection with the resales contemplated by this Section 4. 

(c)       The Initial Purchasers shall have no liability to the Company or any Holder with
respect to any request that they may make pursuant to Section 4(b) hereof. 

5.        Indemnification and Contribution. (a) The Company agrees to
indemnify and hold harmless each Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim
asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any
Prospectus, any Free Writing Prospectus or any “issuer information” (“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to state
therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are
based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Initial Purchaser or information relating to any Holder furnished to the Company in
writing through J.P. Morgan, SMBC Nikko Securities America, Inc. or Morgan Stanley MUFG Securities Co., Ltd., as representatives of the Initial Purchasers, or any selling Holder, respectively, expressly for use therein. In connection with any
Underwritten Offering permitted by Section 3, the Company will also indemnify the Underwriters, if any, selling brokers, dealers and similar securities industry professionals participating in the distribution, their respective affiliates and
each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection with any Registration
Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information. 

(b)      Each Holder agrees, severally and not jointly, to indemnify and hold harmless the
Company, the Initial Purchasers and the other selling Holders, the directors of the Company, each officer of the Company who signed the Registration Statement and each Person, if any, who controls the Company, any Initial Purchaser and any other
selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange 

  
 11 

 
Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue
statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Holder furnished to the Company in writing by such Holder expressly for use in any Registration Statement,
any Prospectus and any Free Writing Prospectus. 
 (c)       If any suit, action,
proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any Person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person
(the “Indemnified Person”) shall promptly notify the Person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person
shall not relieve it from any liability that it may have under paragraph (a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and
provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall
be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and
any others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related
to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the
Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the
Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding
(including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is
understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for
all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial
Purchaser shall be designated in writing by J.P. Morgan, (y) for any Holder, its directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be
designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the
Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that
an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if
(i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the
date of such settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and
indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from
all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 

  
 12 

 (d)      If the indemnification provided for
in paragraphs (a) and (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying
such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits
received by the Company from the offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if the
allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company on the one hand and
the Holders on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and the
Holders on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the
Company or by the Holders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e)       The Company and the Holders agree that it would not be just and equitable if
contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable
considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to contribute any
amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 5 are several and not joint. 

(f)       The remedies provided for in this Section 5 are not exclusive and shall not
limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 

(g)      The indemnity and contribution provisions contained in this Section 5 shall remain
operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person controlling any Initial Purchaser or any Holder,
or by or on behalf of the Company or the officers or directors of or any Person controlling the Company, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration
Statement. 
 (h)      For the avoidance of doubt, the Company and each Holder agrees that
references to “affiliates” of Morgan Stanley MUFG Securities Co., Ltd. that appears in this Agreement shall be understood to include Morgan Stanley & Co. LLC, Morgan Stanley & Co. International plc and Mitsubishi UFJ
Morgan Stanley Securities Co., Ltd. and their respective affiliates. 
 6.        General.

 (a)       No Inconsistent Agreements. The Company represents, warrants and
agrees that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company under any other
agreement and (ii) the Company has not entered into, or on or after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise
conflicts with the provisions hereof. 

  
 13 

 (b)      Amendments and Waivers. The
provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written
consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement,
waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder. Any amendments, modifications, supplements, waivers or
consents pursuant to this Section 6(b) shall be by a writing executed by each of the parties hereto. 

(c)       Notices. All notices and other communications provided for or permitted
hereunder shall be made in writing by hand-delivery, registered first-class mail, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such Holder to the Company by means of a
notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement; (ii) if to the Company, initially at the
Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c); and (iii) to such other persons at their respective addresses
as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c). All such notices and communications shall be deemed to have been duly given: at the
time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air courier
guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at the address specified in the Indenture. 

(d)      Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by operation of law
or otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to perform all of
the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company with respect to any
failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 

(e)       Third Party Beneficiaries. Each Holder shall be a third party beneficiary
to the agreements made hereunder between the Company, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to
protect its rights or the rights of other Holders hereunder. 

(f)       Counterparts. This Agreement may be executed in any number of counterparts
and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(g)      Headings. The headings in this Agreement are for convenience of reference only,
are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof. 

(h)      Governing Law. This Agreement, and any claim, controversy or dispute arising
under or related to this Agreement, shall be governed by and construed in accordance with the laws of the State of New York. 

  
 14 

 (i)       Consent to Jurisdiction.
The Company irrevocably consents and agrees for the benefit of the holders of the Securities and the Initial Purchasers that any legal action, suit or proceeding against it with respect to its obligations, liabilities or any other matter arising
out of or in connection with this Agreement or the Securities may be brought in the courts of the State of New York or the courts of the United States of America located in the Borough of Manhattan, The City of New York and, until all amounts due
and to become due in respect of all the Securities have been paid, or until any such legal action, suit or proceeding commenced prior to such payment has been concluded, hereby irrevocably consents and irrevocably submits to the non-exclusive jurisdiction of each such court in person and, generally and unconditionally with respect to any action, suit or proceeding for themselves and in respect of their properties, assets and revenues. 

(j)       Appointment of Agent for Service of Process. The Company hereby
irrevocably designates, appoints and empowers Cogency Global Inc. with offices currently at 10 E. 40th Street, 10th Floor, New York, NY 10016 as their designee, appointee and agent to receive, accept and acknowledge for and on their behalf, and
their properties, assets and revenues, service of any and all legal process, summons, notices and documents that may be served in any action, suit or proceeding brought against them in any such United States or state court located in the Borough of
Manhattan, The City of New York with respect to their obligations, liabilities or any other matter arising out of or in connection with this Agreement or any additional agreement and that may be made on such designee, appointee and agent in
accordance with legal procedures prescribed for such courts. If for any reason such designee, appointee and agent hereunder shall cease to be available to act as such, the Company agrees to designate a new designee, appointee and agent in the
Borough of Manhattan, The City of New York on the terms and for the purposes of this Section. The Company further hereby irrevocably consents and agrees to the service of any and all legal process, summons, notices and documents in any such action,
suit or proceeding against them by serving a copy thereof upon the relevant agent for service of process referred to in this Section (whether or not the appointment of such agent shall for any reason prove to be ineffective or such agent shall
accept or acknowledge such service) or by mailing copies thereof by registered or certified air mail, postage prepaid, to the Company, at its address specified in or designated pursuant to this Agreement. The Company agrees that the failure of any
such designee, appointee and agent to give any notice of such service to it shall not impair or affect in any way the validity of such service or any judgment rendered in any action or proceeding based thereon. Nothing herein shall in any way be
deemed to limit the ability of the Initial Purchasers to service any such legal process, summons, notices and documents in any other manner permitted by applicable law or to obtain jurisdiction over the Company or bring actions, suits or proceedings
against it in such other jurisdictions, and in such manner, as may be permitted by applicable law. The Company hereby irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to
the laying of venue of any of the aforesaid actions, suits or proceedings arising out of or in connection with this Agreement or the Securities brought in the United States federal courts located in the Borough of Manhattan, The City of New York or
the courts of the State of New York located in the Borough of Manhattan, The City of New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an inconvenient forum. 
 The provisions of this clause shall survive any
termination of this Agreement, in whole or in part. 
 (k)      Entire Agreement;
Severability. This Agreement contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or restriction
contained in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force
and effect and shall in no way be affected, impaired or invalidated. The Company and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, void or unenforceable provisions. 
 [Signature page follows] 

  
 15 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first written above. 
  

			
	TAKEDA PHARMACEUTICAL COMPANY LIMITED
		
	 By
	 	 /s/ Mitsuhiro Okada

	 Name:
	 	 Mitsuhiro Okada

	 Title:
	 	Head of Global Treasury & Finance Management

  

			
	Confirmed and accepted as of the date first above written:
	 J.P. MORGAN SECURITIES LLC

	
	 For itself and on behalf of the

several Initial Purchasers

		
	 By
	 	 /s/ Robert Bottamedi

		 	 Authorized Signatory

  

			
	SMBC NIKKO SECURITIES AMERICA, INC.
	
	 For itself and on behalf of the

several Initial Purchasers

		
	By	 	 /s/ Yoshihiro Satake

		 	 Authorized Signatory

	
	MORGAN STANLEY MUFG SECURITIES CO., LTD.
	
	 For itself and on behalf of the

several Initial Purchasers

		
	By	 	 /s/ Masanori Ogiwara

		 	 Authorized Signatory

  

			
	MIZUHO SECURITIES USA LLC
	
	 For itself and on behalf of the

several Initial Purchasers

		
	By	 	 /s/ Joseph Santaniello

		 	 Authorized Signatory

  

			
	 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

	
	 For itself and on behalf of the

several Initial Purchasers

		
	By	 	 /s/ Andrew Karp

		 	 Authorized SignatoryEX-10.14

Table of Contents

 Exhibit 10.14 

CONFORMED COPY 
 Loan Agreement

 Dated December 3, 2018 

between 
 TAKEDA PHARMACEUTICAL
COMPANY LIMITED 
 and 

JAPAN BANK FOR INTERNATIONAL COOPERATION 

Table of Contents

 Table of Contents 

 

							
	 1.
	 	Definitions	  	 	1	 
			
	 2.
	 	Facility and Currency	  	 	1	 
			
	 3.
	 	Use of Proceeds	  	 	1	 
			
	 4.
	 	Conditions Precedent and Disbursement	  	 	2	 
			
	 5.
	 	Repayment	  	 	3	 
			
	 6.
	 	Interest and Overdue Payment	  	 	3	 
			
	 7.
	 	Prepayment	  	 	5	 
			
	 8.
	 	Manner of Payment and Other Payment Obligations	  	 	6	 
			
	 9.
	 	Representations and Warranties	  	 	7	 
			
	 10.
	 	General Undertakings and Environmental and Social Considerations	  	 	12	 
			
	 11.
	 	Particular Covenants	  	 	13	 
			
	 12.
	 	Events of Default	  	 	21	 
			
	 13.
	 	Governing Law and Dispute Resolution	  	 	24	 
			
	 14.
	 	Miscellaneous Provisions	  	 	25	 

  

							
			
	 Attachment 1
	 	Financial Covenants	  	 	31	 
			
	 Attachment 2
	 	Definitions	  	 	36	 
			
	 Attachment 3
	 	Conditions Precedent	  	 	48	 
			
	 Part 1
	 	Conditions Precedent Documents to the Disbursement	  	 	48	 
			
	 Part 2
	 	Further Conditions Precedent	  	 	48	 
			
	 Attachment 4
	 	Disbursement Procedure	  	 	51	 
			
	 Attachment 5
	 	Planned Amortization Schedule	  	 	54	 
			
	 Attachment 6
	 	Form of Compliance Certificate	  	 	55	 
		
	 ANNEX I
	  	 	56	 
		
	 ANNEX II
	  	 	57	 

Table of Contents

 THIS AGREEMENT is dated the 3rd day of December, 2018 

BETWEEN 
 TAKEDA
PHARMACEUTICAL COMPANY LIMITED, a corporation duly incorporated and existing under the Laws of the Borrower’s Country having its principal office at 1-1, Doshomachi
4-chome, Chuo-ku, Osaka, Japan (the “Borrower”); 

AND 
 JAPAN BANK FOR
INTERNATIONAL COOPERATION (with its successors, “JBIC”). 
 WHEREAS: 

 

	(A)	 The Borrower intends to directly or indirectly acquire (the “Target Acquisition”) pursuant
to the Offer Documents or Scheme Documents, as applicable (each as defined below) all of the outstanding shares of the Target which are subject to the Takeover Offer or Scheme (as the case may be), which acquisition will be effected pursuant to a
Takeover Offer or Scheme (each as defined below). 

  

	(B)	 In connection with the Target Acquisition, the Borrower has requested that JBIC extend credit to the
Borrower in the form of term loans in an aggregate principal amount not to exceed three billion seven hundred million U.S. Dollars (US$3,700,000,000) with the proceeds to be applied towards the Certain Funds Purposes. 

 

	(C)	 JBIC has agreed as to extend a loan facility for the Target Acquisition to the Borrower on the terms and
conditions hereinafter set forth. 

 IT IS AGREED as follows: 

 

	1.	 Definitions 

Capitalized terms used in this Agreement have, unless the context otherwise requires, the meanings assigned to them in Attachment 2
(Definitions). 
  

	2.	 Facility and Currency 

 

	2.1	 Facility 

JBIC hereby agrees to make available to the Borrower, on and subject to the terms and conditions of this Agreement, a loan
facility in U.S. Dollars in an aggregate amount not exceeding three billion seven hundred million U.S. Dollars (US$ 3,700,000,000) (the “Facility”). 
  

	2.2	 Currency 

The currency in which the Disbursement and all payments hereunder (other than any payment pursuant to Clause 8.2 (Other
Payment Obligations)) shall be made is U.S. Dollars (the “Eligible Currency”) (the Eligible Currency and the Relevant Currency collectively being referred to as the “Specified Currency”). 

 

	3.	 Use of Proceeds 

The entire proceeds disbursed by JBIC hereunder shall be applied by the Borrower solely towards Certain Funds Purposes. 

  
 1 

Table of Contents

	4.	 Conditions Precedent and Disbursement 

 

	4.1	 Conditions Precedent Documents 

No Disbursement shall be made unless and until JBIC issues a notice to the Borrower that JBIC has received all of the
Conditions Precedent Documents provided in Attachment 3 Part 1 (Condition Precedent Documents) in form and substance reasonably satisfactory to JBIC (the “Documents Receipt”). JBIC shall issue the Documents Receipt to the
Borrower promptly after the date on which JBIC receives them. 
  

	4.2	 Further Conditions to Disbursement 

 

	 	(a)	 JBIC may refuse to make the Disbursement if any of the conditions precedent in Attachment 3 Part 2
(Further Conditions Precedent) is not satisfied or fulfilled as of the date of the Disbursement. 

  

	 	(b)	 During the Certain Funds Period and notwithstanding any other provision to the contrary in the Loan
Documents, JBIC shall not, unless a Certain Funds Default has occurred and is continuing or would result from a proposed borrowing or a Certain Funds Representation remains incorrect or, if a Certain Funds Representation does not include a
materiality concept, incorrect in any material respect, be entitled to: 

  

	 	(i)	 cancel the Facility or any of its Commitments; 

 

	 	(ii)	 rescind, terminate or cancel the Loan Documents or the Commitments or exercise any similar right or remedy
or make or enforce any claim under the Loan Documents it may have to the extent to do so would prevent or limit (A) the making of the Disbursement for Certain Funds Purposes; or (B) the application of amounts standing to the credit of an
Escrow Account for Certain Funds Purposes; 

  

	 	(iii)	 refuse to make the Disbursement for Certain Funds Purposes unless the conditions set out in Attachment 3
Part 1 (Condition Precedent Documents) or Attachment 3 Part 2 (Further Conditions Precedent) have not been satisfied; 

  

	 	(iv)	 exercise any right of set-off or counterclaim in respect of the
Disbursement to the extent to do so would prevent or limit (A) the making of the Disbursement for Certain Funds Purposes; or (B) the application of amounts standing to the credit of an Escrow Account for Certain Funds Purposes; or

  

	 	(v)	 cancel, accelerate or cause repayment or prepayment of any amounts owing under any Loan Document to the
extent to do so would prevent or limit (A) the making of the Disbursement for Certain Funds Purposes; or (B) the application of amounts standing to the credit of an Escrow Account for Certain Funds Purposes, 

provided that immediately upon the expiry of the Certain Funds Period all such rights, remedies and entitlements shall
be available to JBIC notwithstanding that they may not have been used or been available for use during the Certain Funds Period. 
  

	4.3	 Disbursement 

The Disbursement shall be made: 
  

	 	(a)	 in a single disbursement; 

 

	 	(b)	 during the Certain Funds Period; 

 

	 	(c)	 subject to the terms and conditions hereof; and 

 

	 	(d)	 in accordance with the Disbursement Procedures set forth in Attachment 4 (Disbursement Procedure).

  
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 The date on which the Disbursement is made shall be the
“Disbursement Date”. JBIC shall notify the Borrower of the Disbursement Date as soon as practicable upon its occurrence and such notice shall be conclusive and binding. 

 

	4.4	 Disbursement and Facility 

The amount of the Disbursement shall at no time exceed the Facility. 

 

	4.5	 Termination of Commitment 

Unless previously terminated, any Commitments still undrawn shall terminate in full at 5:00 p.m. (Tokyo time) on the earlier of
(i) the date on which all of the Certain Funds Purposes have been achieved without the making of the Disbursement, (ii) the date on which the Certain Funds Period terminates and (iii) the Disbursement Date. 

 

	5.	 Repayment 

  

	5.1	 Repayment of Loan 

 

	 	(a)	 The aggregate principal amount disbursed to the Borrower hereunder, and from time to time outstanding, shall
be referred to as the “Loan.” 

  

	 	(b)	 In accordance with the Amortization Schedule provided in Attachment 5 (Planned Amortization Schedule)
(the “Planned Amortization Schedule”), the Borrower shall repay the Loan to JBIC in full in one single instalment on December 11th 2025 (the “Repayment Date”),
provided that if the said date is not a Business day, the payment shall be made on the following Business Day. 

  

	5.2	 Arrangement of the Amortization Schedule 

 

	 	(a)	 After the Disbursement Date, JBIC will prepare and deliver to the Borrower a notice together with the
Amortization Schedule (the “Amortization Notice”). 

  

	 	(b)	 After JBIC has issued the Amortization Notice, if any amendment of the Amortization Schedule shall be made
under this Agreement, JBIC will prepare and deliver to the Borrower a notice together with the revised Amortization Schedule. 

  

	 	(c)	 Such Amortization Schedule delivered by JBIC in Paragraph (a) or (b) shall be conclusive in the absence
of manifest error. 

  

	6.	 Interest and Overdue Payment 

 

	6.1	 Interest 

  

	6.1.1	 Interest 

Interest on the Loan for each Interest Period (the “Interest”) shall: 

 

	 	(a)	 accrue at the Interest Rate; and 

 

	 	(b)	 be payable in arrears for each Interest Period on each Interest Payment Date. 

 

	6.1.2	 Rate of Interest 

  

	 	(a)	 The Interest Rate shall be the Floating Rate plus the Margin (the “Interest Rate”).

  

	 	(b)	 The Margin shall be zero point six percent (0.6 %) per annum (the “Margin”).

  
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	6.1.3	 Interest Payment Date 

 

	 	(a)	 The Interest Payment Dates shall be June 11th and
December 11th in each year (each an “Interest Payment Date”). 

  

	 	(b)	 If any Interest Payment Date would otherwise fall on a day which is not a Business Day, such Interest
Payment Date shall be the immediately succeeding Business Day. 

  

	6.1.4	 Interest Period 

The Interest Period shall be the period (x) from and including: 

 

	 	(a)	 (in the case of the initial payment of interest with regard to the Disbursement) the day on which the
Disbursement is made under this Agreement; or 

  

	 	(b)	 (after such initial payment of interest) the immediately preceding Interest Payment Date,

 and (y) up to and excluding the Interest Payment Date (the “Interest Period”).

  

	6.2	 Overdue Interest 

 

	6.2.1	 Overdue Interest 

  

	 	(a)	 If the Borrower fails to pay any principal or interest payable under this Agreement on its due date (such
overdue amount being the “Overdue Amount”), the Borrower shall pay JBIC on demand, to the extent permitted by applicable Law, overdue interest on such Overdue Amount (the “Overdue Interest”). 

 

	 	(b)	 The Overdue Interest shall accrue: 

 

	 	(i)	 on a day to day basis at the Overdue Interest Rate for the Overdue Period; and 

 

	 	(ii)	 as well after as before judgment in accordance with this Clause. 

 

	 	(c)	 Payment of the Overdue Interest by the Borrower shall not prejudice the right of JBIC to exercise any of its
other rights or claims hereunder, at law or otherwise, in particular its rights under Clause 12 (Events of Default). 

  

	6.2.2	 Overdue Interest Rate 

 

	 	(a)	 The Overdue Interest Rate shall be (x) the Floating Rate plus (y) the Margin plus (z) two
percent (2.00%) per annum (the “Overdue Interest Rate”). 

  

	 	(b)	 Such Overdue Interest Rate shall be: 

 

	 	(i)	 initially determined on the due date of the relevant Overdue Amount; and 

 

	 	(ii)	 as long as such relevant Overdue Amount is outstanding, revised on the same calendar day as the Interest
Payment Date (the “Revision Date”). 

  

	 	(c)	 Upon request by the Borrower, JBIC will promptly notify the Borrower of the Overdue Interest Rate; provided
that the Borrower’s obligation to pay such Overdue Interest shall not be conditional upon notification of the relevant rate to the Borrower and such determination by JBIC shall be conclusive in the absence of manifest error.

  

	6.2.3	 Overdue Period 

The Overdue Period shall be the period (x) from and including the due date of such Overdue Amount (y) up to and
excluding the date of actual receipt thereof by JBIC (the “Overdue Period”). 

  
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	6.3	 Basis of Calculation 

 

	 	(a)	 Any Interest or Overdue Interest in this Clause shall accrue on the basis of a year of 360 days and in each
case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or such fees are payable. Each determination by JBIC of an interest rate hereunder shall be conclusive and
binding for all purposes, absent demonstrable error. 

  

	 	(b)	 Fractional sums of less than one-hundredth (1/100) of one
U.S. Dollar (US $0.01) shall be disregarded 

  

	7.	 Prepayment 

 

	7.1	 Voluntary Prepayment 

With effect from the date after the first (1st) anniversary of the Disbursement, upon not less than
ninety (90) days’ prior irrevocable notice in writing to JBIC, the Borrower may prepay all or any part of the Loan each which has been outstanding for a period of at least one year, (x) on a Interest Payment Date or (y) on
any other date otherwise approved by JBIC in writing provided that the Borrower shall pay: 
  

	 	(a)	 amount of the prepaid principal together with all interest accrued thereon and all other amounts payable
hereunder on the date of such prepayment; and 

  

	 	(b)	 a prepayment premium of one half of one per cent (0.5%) of the amount of such prepaid principal.

  

	7.2	 Mandatory Prepayment 

 

	 	(a)	 Each of the following events is a Mandatory Prepayment Event: 

 

	 	(i)	 any change in applicable Law or in the interpretation thereof shall make it unlawful for JBIC:

  

	 	(A)	 to give effect to or perform its obligations hereunder; or 

 

	 	(B)	 to maintain its Loan or other amounts outstanding hereunder; or 

 

	 	(ii)	 the Borrower is, in the reasonable judgment of JBIC, in breach of Clause 10.3 (Environmental and Social
Conditions). 

  

	 	(b)	 On the occurrence of any Mandatory Prepayment Event, JBIC may (subject to Clause 4.2(b)(Further
Conditions to Disbursement)), by notice in writing to the Borrower: 

  

	 	(i)	 suspend the Disbursement; and/or 

 

	 	(ii)	 cancel the Unutilized Amount of the Facility; and/or 

 

	 	(iii)	 demand the Borrower to prepay the Loan, together with all interest accrued thereon and all other amounts
then payable hereunder (but without any premium). 

 provided, however, that notice to demand the
Borrower’s prepayment of the Loan in accordance with item (iii) above shall be issued to the Borrower not less than fifteen (15) days prior to the contemplated prepayment date of the Loan. 

 

	7.3	 Fixed Date of Prepayment 

Once the date for any prepayment in this Clause has been fixed by notice provided in Clauses 7.1 (Voluntary Prepayment)
and 7.2 (Mandatory Prepayment), respectively, such date shall be deemed as the due date for the amounts to be paid. 

  
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	7.4	 Application of Prepaid Amount 

The prepaid principal hereunder shall be applied to the repayment installment of the Loan in the inverse order of their
maturity provided in the Amortization Schedule. 
  

	7.5	 Amounts Prepaid 

Amounts prepaid pursuant hereto shall not be reborrowed. 

 

	8.	 Manner of Payment and Other Payment Obligations 

 

	8.1	 Manner of Payment and Account of JBIC 

 

	8.1.1	 Manner of Payment 

 

	 	(a)	 All payments to be made by the Borrower under this Agreement shall be made: 

 

	 	(i)	 in the Specified Currency in accordance with Clause 2.2 (Currency); 

 

	 	(ii)	 free and clear of any set-off or counterclaim, or any Tax; and

  

	 	(iii)	 in immediately available funds to the JBIC’s Account not later than 11:00 a.m., Tokyo time, on the due
date for payment thereof. 

  

	 	(b)	 Any such payment made on such due date but after 11:00 a.m., Tokyo time, shall be deemed to have been made
on the immediately succeeding Business Day and the Overdue Interest shall accrue in accordance with provisions hereunder. 

  

	8.1.2	 Account of JBIC 

The JBIC’s Account is the bank account in Tokyo designated by JBIC in writing on or about the date of this Agreement. 

 

	8.2	 Other Payment Obligations 

 

	 	(a)	 The Borrower shall pay or cause to be paid or shall indemnify JBIC against: 

 

	 	(i)	 the costs and expenses for obtaining and delivering the opinion(s), and any other documents and evidence
submitted as the Conditions Precedent Documents; 

  

	 	(ii)	 any Tax (regardless of deduction or withholding of Tax) and other public charge in connection with the entry
into, performance or enforcement of this Agreement (namely, if the Borrower is required to make a payment to JBIC under this Agreement subject to the deduction or withholding of Tax, the sum payable by the Borrower to JBIC shall be increased to the
extent necessary to ensure that JBIC receives and retains a net sum equal to the sum which it would have received and retained had no such deduction or withholding been required); 

 

	 	(iii)	 any banking charges or fees incurred in connection with the Disbursement or any payment to JBIC (including
any prepayment) under this Agreement; and 

  

	 	(iv)	 all losses, liabilities, reasonable costs and expenses (including reasonable legal fees) incurred in
contemplation of, or in connection with: 

  

	 	(A)	 the negotiation, preparation, execution, delivery, administration and implementation of this Agreement and
any amendment to, waiver of or consent under this Agreement, or any prepayment at the request of or as a result of a material change in the circumstances of the Borrower; and 

  
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	 	(B)	 the occurrence of a Default or the enforcement of, or the preservation or perfection of any right of JBIC
under this Agreement, 

 and JBIC shall provide to the Borrower a reasonably detailed statement of the
expenses referred to above. 
  

	 	(b)	 Without prejudice to the provisions of this Clause above, even if any amount to be paid by the Borrower to
any Person other than JBIC under Paragraph (a) includes any Tax, the Borrower shall pay such amount in full, to the extent permitted by applicable Law. 

  

	 	(c)	 All amounts payable by the Borrower under this Clause shall be paid in the currency in which any tax, duty,
penalty, fee, expense, charge, interest, loss, cost or liability is denominated or, if JBIC so requests, the amount of the same in any other currency at the current rate of exchange specified by JBIC (such denominated currency and other currency,
collectively being referred to as the “Relevant Currency”). 

  

	8.3	 Different Currency Receipt 

 

	 	(a)	 If: 

  

	 	(i)	 JBIC’s receipt of any amount, tender or recovery (whether pursuant to any judgment or otherwise) is
expressed, paid or made in any currency other than the Specified Currency; and 

  

	 	(ii)	 such receipt falls short of the full amount in such Specified Currency when converted by JBIC in their usual
foreign exchange practices, 

 the obligation of the Borrower under this Agreement shall not be discharged
or satisfied by such receipt to the extent of such sum falling short (the “Short Value”). 
  

	 	(b)	 The Borrower shall indemnify JBIC against the amount of the Short Value (as a primary obligation enforceable
as an alternative or additional cause of action for the purpose of recovery in such Specified Currency), and such indemnity shall not be affected by any judgment obtained for any other sum due under this Agreement. 

 

	8.4	 Insufficient Payment 

If the amount of any payment made by the Borrower is less than the total amount due and payable as of the date on which such
payment is actually made, then: 
  

	 	(a)	 the Borrower shall be deemed to have waived any right which it may have to make any appropriation hereof;
and 

  

	 	(b)	 JBIC may apply and appropriate the payment so made in or towards the satisfaction of any or all of the
amounts which are due or overdue for payment on such day in the order decided upon by JBIC in its sole discretion. 

  

	9.	 Representations and Warranties 

 

	9.1	 Representations and Warranties 

 

	 	(a)	 The Borrower represents and warrants in this Clause for the benefit of JBIC. 

 

	 	(b)	 The Borrower acknowledges that JBIC has entered into this Agreement in reliance on the representations and
warranties. 

  

	9.1.1	 Status of Borrower and its Business 

The Borrower is duly organized, validly existing and in good standing (to the extent that such concept exists) under the laws
of its jurisdiction of organization. 

  
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	9.1.2	 Power and Internal Authorization 

 

	 	(a)	 The execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents to
which it is a party, and the consummation of the transactions contemplated hereby and thereby, and the completion of the Target Acquisition, (i) are within the Borrower’s organizational powers, (ii) have been duly authorized by all
necessary organizational action, (iii) do not contravene (A) the Borrower’s charter, articles of incorporation or by-laws or other organizational documents or (B) any law or regulation
binding on or affecting the Borrower or (C) any restriction binding on or affecting the Borrower and (iv) will not result in or require the creation or imposition of any Lien upon or with respect to any of the properties of the
Consolidated Group (other than Liens created or required to be created pursuant to the terms hereof), except, in the case of subclauses (iii)(B), (iii)(C) and (iv), as would not be reasonably expected to have a Material Adverse Effect.

  

	 	(b)	 The Borrower has full power to own its assets and carry on its business as being conducted at the date of
this Agreement. 

  

	9.1.3	 Public Requirement 

No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority or regulatory body
is required for the due execution, delivery and performance by the Borrower of this Agreement and the consummation of the transactions contemplated hereby, and the completion of the Target Acquisition, other than (i) the Panel, as directed by
the Panel pursuant to the requirements of the City Code, anti-trust regulators, as directed by anti-trust regulators, as contemplated by the Scheme Documents or (as the case may be) Takeover Offer Documents or as is obtained by the time required and
(ii) the Bank of Japan with respect to post-facto filings that may be required under the Foreign Exchange Act in connection with the performance of this Agreement. 
  

	9.1.4	 Form and Effect of this Agreement 

This Agreement and the other Loan Documents have been duly executed and delivered by the Borrower. This Agreement and the other
Loan Documents are legal, valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with its terms, except as affected by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors’ rights generally and general principles of equity (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 

 

	9.1.5	 No Certain Funds Default 

No Certain Funds Default is outstanding or would result from the execution of, the performance of, or any transaction
contemplated by, this Agreement. 
  

	9.1.6	 No Litigation 

There is no action, suit, investigation, litigation or proceeding (including, without limitation, any Environmental Action),
affecting the Consolidated Group pending or, to the knowledge of the Borrower, threatened before any court, governmental agency or arbitrator that would reasonably be expected to be adversely determined, and if so determined, would reasonably be
expected to have a material adverse effect on the financial condition or results of operations of the Consolidated Group taken as a whole (other than the litigation set forth in the Disclosure Letter). 

 

	9.1.7	 Immunity 

Neither the Borrower nor any of its assets has any right of immunity from suit, execution, attachment or other legal process in
any legal proceedings in relation to this Agreement. 

  
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	9.1.8	 Environmental Review 

 

	 	(a)	 In the ordinary course of its business, the Borrower conducts the Necessary Environmental Review.

  

	 	(b)	 On the basis of the Necessary Environmental Review, the Borrower has reasonably concluded that such
liabilities and costs are unlikely to have any Material Adverse Effect. 

  

	9.1.9	 Relevant Information 

 

	 	(a)	 All written information (other than the Projections) concerning the Borrower, the Target and their
Subsidiaries and the transactions contemplated hereby or otherwise prepared by or on behalf of the Borrower and its Subsidiaries and furnished to JBIC in connection with the negotiation of, or pursuant to the terms of, this Agreement when taken as a
whole (and with respect to information regarding the Target Group, to the Borrower’s knowledge), was true and correct in all material respects as of the date when furnished by such Person to JBIC and did not, taken as a whole, when so furnished
contain any untrue statement of a material fact as of any such date or omit to state a material fact necessary in order to make the statements contained therein, taken as a whole, not misleading in light of the circumstances under which such
statements were made. The Projections and estimates and information of a general economic nature prepared by or on behalf of the Borrower or its Subsidiaries and that have been furnished by such Person to JBIC in connection with the transactions
contemplated hereby have been prepared in good faith based upon assumptions believed by such Person to be reasonable as of the date of such Projections (it being understood that actual results may vary materially from the Projections).

  

	9.1.10	 Financial Information. 

The Borrower has heretofore furnished to JBIC (i) its consolidated balance sheet at March 31, 2017 and the related
consolidated statements of operations, shareholders’ equity and cash flows for the fiscal year ended March 31, 2017, in each case reported on by KPMG AZSA LLC, independent public accountants and (ii) the consolidated balance sheet of
the Target as December 31, 2017 and the related consolidated statements of operations, shareholders’ equity and cash flows for the fiscal year ended December 31, 2017. Such financial statements (to the Borrower’s knowledge with
respect to the financial statements of the Target) present fairly, in all material respects, the consolidated financial position and results of operations and cash flows of the Borrower and the Target, as applicable, and their respective
consolidated Subsidiaries as of such dates and for such periods in accordance with IFRS and GAAP, as applicable, except as may be indicated in the notes thereto and subject to year-end audit adjustments and
the absence of footnotes in the case of unaudited financial statements. 
  

	9.1.11	 Anti-Corruption / Sanctions / Anti-Social Groups 

 

	 	(a)	 The Borrower has implemented and maintains in effect policies and procedures reasonably designed to promote
compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its Subsidiaries and their respective officers and directors and to the
knowledge of the Borrower its employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (i) the Borrower, any Subsidiary, any of their respective directors or officers or to the
knowledge of the Borrower or such Subsidiary employees, or (ii) to the best knowledge of the Borrower, any agent of the Borrower or any agent of any Subsidiary that will act in any capacity in connection with or benefit from the credit facility
established hereby, is a Sanctioned Person. 

  

	 	(b)	 No Disbursement or use of the proceeds thereof will violate any applicable Anti- Corruption Law or
applicable Sanctions. 

  
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	 	(c)	 The Borrower is not classified, does not belong to nor is it associated with an Anti- Social Group, does not
have an Anti-Social Relationship and has not engaged in Anti- Social Conduct, whether directly or indirectly through a third party. 

  

	9.1.12	 Scheme 

  

	 	(a)	 The Borrower has delivered to JBIC a complete and correct copy of the Scheme Documents (if and when issued)
or, as the case may be, the Offer Documents (if and when issued), including all schedules and exhibits thereto. The release of the Offer Press Announcement and the posting of the Takeover Offer Documents if a Takeover Offer is pursued has been or
will be, prior to their release or posting (as the case may be), duly authorized by the Borrower. Each of the material obligations of the Borrower under the Takeover Offer Documents is or will be, when entered into and delivered, the legal, valid
and binding obligation of the Borrower, enforceable against such Persons in accordance with its terms in each case, except as may be limited by (i) bankruptcy, insolvency, reorganization or other similar laws affecting the rights and remedies
of creditors generally and (ii) general principles of equity. 

  

	 	(b)	 The Scheme Press Release and the Scheme Circular (in each case if and when issued) when taken as a whole:
(i) except for the information that relates to the Target or the Target Group, do not (or will not if and when issued) contain (to the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case)) any
statements which are not in accordance with the material facts, or where appropriate, do not omit anything likely to affect the import of such information and (ii) contain all the material terms of the Scheme. 

 

	 	(c)	 If the Target Acquisition is effected by way of Scheme, each of the Scheme Documents complies in all
material respects with the Jersey Companies Law and the City Code, subject to any applicable waivers by or requirements of the Panel. 

  

	 	(d)	 The Borrower is not an EEA Financial Institution. 

 

	9.1.13	 Margin Stock 

Following application of the proceeds of the Disbursement, not more than 25 percent of the value of the assets of the
Borrower and of the Consolidated Group, on a Consolidated basis, subject to the provisions of Clause 11.13 (No Encumbrance) will be Margin Stock. No part of the proceeds of the Disbursement have been used or will be used for any purpose that
entails a violation of any of the regulations of the Board, including Regulations T, U and X of the Board. 
  

	9.1.14	 ERISA 

  

	 	(a)	 No ERISA Event has occurred or is reasonably expected to occur with respect to any Plan which would
reasonably be expected to have a Material Adverse Effect. 

  

	 	(b)	 Neither the Borrower nor any ERISA Affiliate (i) is reasonably expected to incur any Withdrawal
Liability to any Multiemployer Plan or has incurred any Withdrawal Liability that has not been satisfied in full or (ii) has been notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization (within the
meaning of Section 4241 of ERISA) or has been determined to be in “endangered” or “critical’ status (within the meaning of Section 432 of the Code or Section 305 of ERISA), and no such Multiemployer Plan is
reasonably expected to be in reorganization or in “endangered” or “critical” status. 

  

	9.1.15	 Environmental—operations 

(i) The operations and properties of the Consolidated Group comply, and have complied for the previous three years, in all
respects with all applicable Environmental Laws and Environmental Permits except to 

  
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the extent that the failure to so comply, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect; (ii) all past non-compliance with such Environmental Laws and Environmental Permits has been resolved without any ongoing obligations or costs except to the extent that such non-compliance,
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect; and (iii) to the Borrower’s knowledge, no circumstances exist that would be reasonably expected to (A) form the basis of an
Environmental Action against a member of the Consolidated Group or any of its properties that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect or (B) cause any such property to be subject
to any restrictions on ownership, occupancy, use or transferability under any Environmental Law that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

 

	9.1.16	 Environmental—properties 

(i) None of the properties currently or formerly owned or operated by a member of the Consolidated Group is listed or formally
proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list; (ii) to the Borrower’s knowledge, there are no, and never have been any, underground or aboveground storage tanks or any surface impoundments,
septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed of on any property currently owned or operated by any member of the Consolidated Group or, to the Borrower’s knowledge, on any
property formerly owned or operated by a member of the Consolidated Group that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect; (iii) to the Borrower’s knowledge, there is no
asbestos or asbestos-containing material on any property currently owned or operated by a member of the Consolidated Group the mitigation of which, either individually or in the aggregate, would reasonably be expected to have a Material Adverse
Effect; and (iv) to the Borrower’s knowledge, no Hazardous Materials have been released, discharged or disposed of on any property currently or formerly owned, leased or operated by a member of the Consolidated Group for which a member of
the Consolidated Group could be expected to be made liable to remediate under Environmental Law except in each case as would not have a Material Adverse Effect. 
  

	9.1.17	 Environmental—investigation 

No member of the Consolidated Group is undertaking either individually or together with other potentially responsible parties,
any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any
governmental or regulatory authority or the requirements of any Environmental Law that, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect; and, to the Borrower’s knowledge, all Hazardous
Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by a member of the Consolidated Group, or any offsite locations to which a member of the Consolidated Group
sent Hazardous Materials for treatment or disposal, have been disposed of in a manner that, either individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. 

 

	9.1.18	 Investment Company Act 

The Borrower is not an “investment company” as defined in, or subject to regulation under, the Investment Company Act
of 1940 (United States), as amended. 
  

	9.1.19	 Pari passu 

The Disbursement and all related obligations of the Borrower under this Agreement rank pari passu with all other
unsecured obligations of the Borrower that are not, by their terms, expressly subordinate to the obligations of the Borrower hereunder. 

  
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	9.1.20	 Use of Proceeds 

The proceeds of the Disbursement will be used in accordance with Clause 3 (Use of Proceeds). 

 

	9.2	 Times for Making Representations 

The representations and warranties set out in this Clause 9 are made by the Borrower on the date of this Agreement, and each
representation or warranty is deemed to be repeated by the Borrower on and as of the date of the Disbursement, with reference to the facts then existing. 
  

	10.	 General Undertakings and Environmental and Social Considerations 

 

	10.1	 “Know your customer” checks 

If: 
  

	 	(a)	 the introduction of or any change in (or in the interpretation, administration or application of) any law or
regulation made after the date of this Agreement; 

  

	 	(b)	 any change in the status of the Borrower (or of a Holding Company of the Borrower) after the date of this
Agreement; or 

  

	 	(c)	 a proposed assignment or transfer by JBIC of any of its rights and obligations under this Agreement to
another person, 

 obliges JBIC (or, in the case of paragraph (c) above, any prospective assignee or
transferee) to comply with applicable “know your customer” and anti-money laundering rules and regulations, including the Criminal Proceeds Transfer Prevention Act of Japan (Law No. 22 of 2007, as amended) in circumstances where the
necessary information is not already available to it, the Borrower shall promptly upon the request of JBIC supply, or procure the supply of, such documentation and other evidence as is reasonably requested by JBIC (for itself or on behalf of any
prospective assignee or transferee) in order for the JBIC or, in the case of the event described in paragraph (c) above, any prospective assignee or transferee to carry out and be satisfied it has complied with all applicable “know your
customer” and anti-money laundering rules and regulations, including the Criminal Proceeds Transfer Prevention Act of Japan (Law No. 22 of 2007, as amended) pursuant to the transactions contemplated in the Agreement. 

 

	10.2	 Notifications 

 

	 	(a)	 The Borrower shall immediately notify JBIC if it becomes aware of: 

 

	 	(i)	 the imposition of any Law materially affecting the Borrower or the Target Acquisition; and

  

	 	(ii)	 any material change in the nature of the business activities of the Consolidated Group, taken as a whole.

  

	 	(b)	 The Borrower shall promptly notify JBIC if it becomes aware of the occurrence of: 

 

	 	(i)	 any event or circumstance which interferes or threatens to interfere with the implementation, completion or
operation of the Target Acquisition; and 

  

	 	(ii)	 any other matter which materially affects the corporate or business activities or existence of the
Consolidated Group, taken as a whole. 

  

	 	(c)	 Immediately upon becoming aware of the occurrence of any Default, the Borrower shall notify JBIC of such
Default (and the steps, if any, being taken to remedy it). 

  
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	10.3	 Environmental and Social Considerations 

 

	10.3.1	 Due Attention 

The Borrower shall pay due attention to the protection and conservation of the environment and ecology, including, but not
limited to, giving due consideration to such issues as air pollution, water pollution, industrial waste treatment and ecological changes to the environment in connection with the use of the proceeds of the Loan. 

 

	10.3.2	 Requirements under the JBIC Environmental Guidelines 

 

	 	(a)	 The Borrower shall report to JBIC on measures and monitoring related to the Environmental and Social
Considerations undertaken by the Borrower in connection with the Target Acquisition in accordance with instructions from JBIC. If, due to unforeseen circumstances, there is a possibility that relevant local environmental laws and standards may not
be observed, the Borrower shall promptly report this to JBIC. The Borrower shall furnish to JBIC, at least once a year, a monitoring form on the Target Acquisition in accordance with instructions from JBIC. 

 

	 	(b)	 If any problems regarding the Environmental and Social Considerations arise, the Borrower shall make efforts
for discussions to be held between the Borrower and stakeholders of the Target Acquisition (including local residents and local non- governmental organizations affected by the Target Acquisition).

  

	 	(c)	 When the government of Ireland (including local governments) has important roles to play in terms of the
Environmental and Social Considerations, the Borrower shall endeavor to enter into agreements (including arrangements or other similar form satisfactory to JBIC) with the government (and/or the project proponent). 

 

	11.	 Particular Covenants 

 

	11.1	 Compliance with Laws, Etc. 

The Borrower will: 
  

	 	(a)	 Comply, and cause each member of the Consolidated Group to comply, with all applicable laws, rules,
regulations and orders (such compliance to include, without limitation, compliance with ERISA and Environmental Laws), except to the extent that the failure to so comply, either individually or in the aggregate, would not reasonably be expected to
have a Material Adverse Effect; and 

  

	 	(b)	 maintain in effect and enforce policies and procedures reasonably designed to promote compliance by the
Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. 

  

	11.2	 Payment of Taxes, Etc. 

Pay and discharge, or cause to be paid and discharged, before the same shall become delinquent, all taxes, assessments and
governmental charges levied or imposed upon a member of the Consolidated Group or upon the income, profits or property of a member of the Consolidated Group, in each case except to the extent that (i) the amount, applicability or validity
thereof is being contested in good faith and by proper proceedings and with respect to which reserves in conformity with applicable accounting standards have been provided or (ii) the failure to pay such taxes, assessments and charges, either
individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 

  
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	11.3	 Maintenance of Insurance 

Except where the failure to do so would reasonably be expected to result in a Material Adverse Effect, maintain, and cause each
member of the Consolidated Group to maintain, insurance with responsible and reputable insurance companies or associations (or pursuant to self- insurance arrangements) in such amounts (after giving effect to any self-insurance which the Borrower
believes (in the good faith judgement of management of the Borrower) is reasonable and prudent in light of the size and nature of its business) and covering such risks as is usually carried by companies engaged in similar businesses and owning
similar properties in the same general areas in which any member of the Consolidated Group operates. 
  

	11.4	 Preservation of Existence, Etc. 

Do, or cause to be done, all things necessary to preserve and keep in full force and effect its (i) existence and
(ii) rights (charter and statutory) and franchises; provided, however, that the Borrower may consummate any merger or consolidation permitted under Clause 11.15(b); and provided further that the Borrower shall not be required to preserve any
such right or franchise if the management of the Borrower shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Borrower and that the loss thereof is not disadvantageous in any material respect to
JBIC. 
  

	11.5	 Visitation Rights 

At any reasonable time and from time to time during normal business hours (but not more than once annually if no Default has
occurred and is continuing), upon no less than ten (10) days’ prior notice to the Borrower, permit JBIC, or any agents or representatives thereof coordinated through JBIC, to examine and make copies of and abstracts from the records and
books of account, and visit the properties, of the Consolidated Group, and to discuss the affairs, finances and accounts of the Consolidated Group with any of the members of the senior treasury staff of the Borrower. 

 

	11.6	 Keeping of Books 

Keep, and cause each of its Subsidiaries to keep, proper books of record and account, in which full and correct entries shall
be made of all financial transactions and the assets and business of the Consolidated Group sufficient to permit the preparation of financial statements in accordance with IFRS. 

 

	11.7	 Maintenance of Properties, Etc. 

Cause all of its properties that are used or useful in the conduct of its business or the business of any member of the
Consolidated Group to be maintained and kept in good condition, repair and working order (ordinary wear and tear excepted) and supplied with all necessary equipment, and cause to be made all necessary repairs, renewals, replacements, betterments and
improvements thereof, all as in the judgment of the Borrower may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, except, in each case, where the failure to do so would
not reasonably be expected to result in a Material Adverse Effect. 
  

	11.8	 Reporting Requirements. 

 

	 	(a)	 Furnish to JBIC: 

  

	 	(i)	 as soon as available and in any event within sixty (60) days after the end of each of the first three
quarters of each fiscal year of the Borrower, a Consolidated balance sheet of the Consolidated Group as of the end of such quarter and Consolidated statements of income and cash flows of the Consolidated Group for the period commencing at the

  
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end of the previous fiscal year and ending with the end of such quarter, duly certified by the Chief Financial Officer or the Treasurer of the Borrower as having been prepared in accordance with
IFRS (subject to the absence of footnotes and year end audit adjustments); 

  

	 	(ii)	 as soon as available and in any event within one hundred twenty (120) days after the end of each fiscal
year of the Borrower, a copy of the annual audit report for such year for the Consolidated Group, containing a Consolidated balance sheet of the Consolidated Group as of the end of such fiscal year and Consolidated statements of income and cash
flows of the Consolidated Group for such fiscal year, in each case accompanied by an unqualified opinion or an opinion reasonably acceptable to JBIC by any independent public accountants of recognized national standing; 

 

	 	(iii)	 simultaneously with each delivery of the financial statements referred to in Subclauses (a)(i) and (a)(ii)
of this Clause 11.8, a certificate of the Chief Executive Officer, Chief Financial Officer or the Treasurer of the Borrower in substantially the form of Attachment 6 (Form of Compliance Certificate) hereto certifying that no Default or Event
of Default has occurred and is continuing (or if such event has occurred and is continuing the actions being taken by the Borrower to cure such Default or Event of Default), including, if such covenant is tested at such time, setting forth in
reasonable detail the calculations necessary to demonstrate compliance with Clause 11.17(Financial Covenants); 

  

	 	(iv)	 as soon as possible and in any event within five (5) days after any Responsible Officer of the Borrower
shall have obtained knowledge of the occurrence of each Default continuing on the date of such statement, a statement of a Responsible Officer of the Borrower setting forth details of such Default and the action that the Borrower has taken and
proposes to take with respect thereto; 

  

	 	(v)	 promptly after the sending or filing thereof, copies of all reports that the Borrower sends to any of its
security holders, in their capacity as such, and copies of all reports and registration statements that members of the Consolidated Group file with the Prime Minister of Japan through the Financial Services Agency of Japan, the Securities and
Exchange Commission or any national securities exchange; 

  

	 	(vi)	 promptly after a Responsible Officer of the Borrower obtains knowledge of the commencement thereof, notice
of all actions, suits, investigations, litigations and proceedings before any court, governmental agency or arbitrator that would reasonably be expected to be adversely determined, and if so determined, would reasonably be expected to have a
Material Adverse Effect subject, in each case, to any confidentiality, legal or regulatory restrictions relating to the supply of such information; and 

  

	 	(vii)	 such other information respecting the Consolidated Group as JBIC may from time to time reasonably request.

  

	 	(b)	 The Borrower shall be deemed to have delivered the financial statements and other information referred to in
paragraphs (i), (ii) and (v) above when such financial statements and other information have been posted on the Borrower’s internet website or the website of the Financial Services Agency of Japan, the Securities and Exchange Commission or
any national securities exchange (in each case, to the extent such website is accessible by the JBIC without charge) and the Borrower has notified JBIC by electronic mail of such posting. If JBIC requests hard copies of such financial statements and
other information, the Borrower shall furnish these to JBIC provided that no request shall affect that delivery has deemed to occur in accordance with the immediately preceding sentence. 

  
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	11.9	 Conduct of the Scheme 

To the extent applicable, the Borrower shall or it shall procure that the applicable members of the Consolidated Group shall:

  

	 	(a)	 provide evidence that a Scheme Circular is issued and dispatched as soon as is reasonably practicable and in
any event within 28 days (or such longer period as may be agreed with the Panel) after the issuance of the Original Scheme Press Release unless, during that period the Borrower has elected to convert the Target Acquisition from a Scheme to a
Takeover Offer, in which case the Takeover Offer Document shall be issued and dispatched as soon as reasonably practicable and in any event within 28 days (or such longer period as may be agreed with the Panel) after the issuance of the Offer Press
Announcement; 

  

	 	(b)	 comply in all material respects with the City Code (subject to any waivers or dispensations granted by the
Panel or the Court) and all other applicable laws and regulations in relation to the Takeover Offer or Scheme; 

  

	 	(c)	 except as consented to by JBIC in writing (such consent not to be unreasonably withheld, delayed or
conditioned) and save to the extent that following the issue of a Scheme Press Release or an Offer Press Announcement the Borrower elects to proceed with the Target Acquisition by way of a Takeover Offer or Scheme respectively, ensure that
(i) if the Target Acquisition is effected by way of a Scheme, the Scheme Circular corresponds in all material respects to the terms and conditions of the Scheme as contained in the Scheme Press Release to which it relates or (ii) if the
Target Acquisition is effected by way of a Takeover Offer, the Takeover Offer Document corresponds in all material respects to the terms and conditions of the Takeover Offer as contained in the corresponding Offer Press Announcement, subject to any
variation required by the Court and to any variations required by the Panel or which are not materially adverse to the interests of JBIC (or where the prior written consent of JBIC has been given); 

 

	 	(d)	 ensure that the Scheme Documents, or, if the Target Acquisition is effected by way of a Takeover Offer, the
Offer Documents, provided to JBIC contain all the material terms and conditions of the Scheme or Takeover Offer, as at that date, as applicable; 

  

	 	(e)	 not make or approve any increase in the proposed amount of cash consideration payable per Target Share or
make any other acquisition of any Target Share (including pursuant to a Takeover Offer) at a price that results in an increase in the cash consideration payable per Target Share stated in the Original Scheme Press Release, unless such modification
in price is not materially adverse to the interests of JBIC (or where the prior written consent of JBIC has been given); 

  

	 	(f)	 except as consented to by JBIC in writing in the event that the matter is material to the interests of JBIC
(such consent not to be unreasonably withheld, delayed, or conditioned), not (i) amend or waive any term of the Scheme Documents or Takeover Offer Documents, as applicable, in a manner materially adverse to the interests of JBIC from those in
the Original Scheme Press Release, or (ii) if the Target Acquisition is proceeding as a Takeover Offer, amend or waive the Acceptance Condition, save for, (a) in the case of clause (i), any amendment or waiver required by the Panel, the
City Code, a court or any other applicable law, regulation or regulatory body, (b) in the case of clause (ii), a waiver of the Acceptance Condition to permit the Takeover Offer to become unconditional with acceptance of Target Shares (excluding
any shares held in treasury) which, when aggregated with all Target Shares owned by the Borrower (directly or indirectly), represent not less than 75% of all Target Shares (excluding any shares held in treasury) as at the date on which the Takeover
Offer is declared unconditional as to acceptances, (c) in the case of clause (i) and any condition detailed in the Original Scheme Press Release, any waiver of a condition which would not have entitled the Borrower to lapse the Scheme or
Takeover Offer (as the case may be) under rule 13.5(a) of the City Code or 

  
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(d) an extension of the Long Stop Date (as defined in the Original Scheme Press Release) in the event that any condition in paragraphs 4(c) to (j) in Part A of Appendix 1 to the
Original Scheme Press Release (or the equivalent provision in any Offer Press Announcement) has not been satisfied by May 8, 2019; 

  

	 	(g)	 not take any action which would require the Borrower to make a mandatory offer for the Target Shares in
accordance with Rule 9 of the City Code; 

  

	 	(h)	 provide JBIC with copies of each Offer Document or Scheme Document (as applicable) and such information as
it may reasonably request regarding, in the case of a Takeover Offer, the current level of acceptances subject to any confidentiality, legal, regulatory or other restrictions relating to the supply of such information; 

 

	 	(i)	 promptly deliver to JBIC the receiving agent certificate issued under Rule 10 of the City Code (if the
Target Acquisition is being pursued pursuant to a Takeover Offer), any written agreement between the Borrower or its Affiliates and Target to the extent material to the interests of JBIC (as reasonably determined by the Borrower) in relation to the
consummation of the Target Acquisition (in each case, upon such documents or agreements being entered into by a member of the Consolidated Group), and all other material announcements and documents published by the Borrower or delivered by the
Borrower to the Panel pursuant to the Takeover Offer or Scheme (other than the cash confirmation) and all legally binding agreements entered into by the Borrower in connection with the Takeover Offer or Scheme, in each case to the extent the
Borrower, acting reasonably, anticipates they will be material to the interests of the JBIC in connection with the Transactions, except to the extent it is prohibited by legal (including contractual) or regulatory obligations from doing so;

  

	 	(j)	 in the event that a Scheme is switched to a Takeover Offer or vice versa, (which the Borrower shall be
entitled to do on multiple occasions provided that it complies with the terms of this Agreement), (i) within the applicable time periods provided in the definition of “Mandatory Cancellation Event”, procure that an Offer Press Announcement
or Scheme Press Release, as the case may be, is issued, and (ii) except as consented to by JBIC in writing where such matters are material to the interests of JBIC (such consent not to be unreasonably withheld, delayed or conditioned), ensure
that (A) where the Target Acquisition is then proceeding by way of a Takeover Offer, the terms and conditions contained in the Offer Document include the Acceptance Condition and (B) except for any reference in the Scheme Documents to the
recommendation of the Target Acquisition and the Scheme to the Scheme Shareholders by the board of directors of the Target, the conditions to be satisfied in connection with the Target Acquisition and contained in the Offer Documents or the Scheme
Documents (whichever is applicable) are otherwise consistent in all material respects with those contained in the Offer Documents or Scheme Documents (whichever applied to the immediately preceding manner in which it was proposed that the Target
Acquisition would be effected) (to the extent applicable for the legal form of a Takeover Offer or Scheme, as the case may be), in each case other than (i) in the case of clause (B), any changes permitted or required by the Panel or the City
Code or any court of competent jurisdiction or are required to reflect the change in legal form to a Takeover Offer or Scheme or (ii) changes that could have been made to the Scheme or a Takeover Offer in accordance with the relevant provisions
of this Agreement or which reflect the requirements of the terms of this Agreement and the manner in which the Target Acquisition may be effected, including, without limitation, changes to the price per Target Share which are made in accordance with
the relevant provisions of this Agreement or any other agreement between the Borrower and JBIC; 

  

	 	(k)	 in the case of a Takeover Offer, (i) not declare the Takeover Offer unconditional as to acceptances
until the Acceptance Condition has been satisfied and (ii) promptly upon the Borrower acquiring Target Shares which represent not less than 90% in nominal value of the Target Shares to which the Takeover Offer relates or, if the Takeover Offer
relates to Target 

  
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Shares of different classes, not less than 90% in nominal value of the shares of any class to which the Takeover Offer relates, ensure that notices under Article 117 of the Jersey Companies Law
in respect of Target Shares that the Borrower has not yet agreed to directly or indirectly acquire are issued; 

  

	 	(l)	 in the case of a Scheme, within ninety (90) days of the Scheme Effective Date, and in relation to a
Takeover Offer, within ninety (90) days after the later of (i) the Closing Date and (ii) the date upon which the Borrower (directly or indirectly) owns and/or has agreed to own or acquire and has received valid acceptances (which have
not been withdrawn or cancelled) of Target Shares (excluding any shares held in treasury), in respect of which, when aggregated with all other Target Shares owned by the Borrower (directly or indirectly), represent not less than 75% of all Target
Shares (excluding any shares held in treasury), procure that such action as is necessary is taken to de-list the Target Shares from the Official List of the Financial Conduct Authority and to cancel trading in
the Target Shares on the main market for listed securities of the London stock exchange and as soon as reasonably practicable thereafter, and subject always to the Jersey Companies Law and any applicable listing rules, use its reasonable endeavours
to re-register Target as a private limited company; 

  

	 	(m)	 except as consented by JBIC in writing, not give its consent with respect to any frustrating action of the
Target pursuant to Rule 21.1(c)(ii) of the City Code; 

  

	 	(n)	 make all payments which form part of the consideration to the shareholders of the Target in accordance with
the terms of the Offer Documents or the Scheme Documents (whichever is applicable) or as otherwise may be agreed with the Court and/or the Panel. 

  

	11.10	 Records 

The Borrower shall maintain or cause to be maintained reasonable records in respect of the use of the proceeds of the Loan and
the implementation of the Target Acquisition until at least two (2) years after the Disbursement Date and enable JBIC’s representatives to examine such records. 
  

	11.11	 Authorizations 

The Borrower shall promptly obtain, maintain and comply with any authorization required under any applicable Law in order to
perform its obligations under, or for the legality, validity, enforceability or admissibility in evidence of this Agreement, except to the extent that the failure to so comply, either individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect. 
  

	11.12	 Pari Passu 

The Borrower shall ensure that the payment obligations under this Agreement at all times rank at least pari passu with
all other present and future unsecured and unsubordinated Debt of the Borrower, except any claims that are mandatorily preferred by laws of general application to companies. 
  

	11.13	 No Encumbrance 

The Borrower shall not, without the prior written consent of JBIC, incur, issue, assume or guarantee, or permit any member of
the Consolidated Group to incur, issue, assume or guaranty, at any time, any Borrowed Debt secured by a Lien on any property or asset now owned or hereafter acquired by the Borrower or any member of the Consolidated Group (other than Unrestricted
Margin Stock), without effectively providing that the Disbursement outstanding at such time (together with, if the Borrower shall so determine, any other Borrowed Debt of the Borrower or such member of the Consolidated Group existing at such time or
thereafter created that is not subordinate to the Disbursement) shall be secured equally and ratably with (or prior to) such secured Borrowed Debt, so long as such secured 

  
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Borrowed Debt shall be so secured, unless, after giving effect thereto, the aggregate amount of all such secured Borrowed Debt would not exceed $2,500,000,000; provided, however, that this Clause
11.13 shall not apply to, and there shall be excluded from secured Borrowed Debt in any computation under this Clause 11.13, Borrowed Debt secured by: 
  

	 	(a)	 Liens on property of, or on any shares of stock or Borrowed Debt of, any Person existing at the time such
Person becomes a member of the Consolidated Group; 

  

	 	(b)	 Liens in favor of any member of the Consolidated Group; 

 

	 	(c)	 Liens incurred in the ordinary course of business to secure the performance of tenders, statutory or
regulatory obligations, surety, stay, customs and appeal bonds, statutory bonds, bids, leases, government contracts, trade contracts, performance and return of money bonds and other similar obligations (exclusive of obligations for the payment of
borrowed money); 

  

	 	(d)	 Liens on property of a member of the Consolidated Group in favor of the United States or any State thereof,
or any department, agency or instrumentality or political subdivision of the United States or any State thereof, or in favor of any other country, or any political subdivision thereof, to secure partial, progress, advance or other payments pursuant
to any contract or statute; 

  

	 	(e)	 Liens on property (including that of the Target and its Subsidiaries), shares of stock or Borrowed Debt
existing at the time of acquisition thereof (including acquisition through merger or consolidation) or to secure the payment of all or any part of the purchase price or construction or improvement cost thereof or to secure any Debt incurred prior
to, at the time of, or within one hundred eighty (180) days after, the acquisition of such property or shares or Borrowed Debt or the completion of any such construction or improvement for the purpose of financing all or any part of the
purchase price or construction or improvement cost thereof; 

  

	 	(f)	 Liens existing on the Effective Date; 

 

	 	(g)	 (i) bankers’ Liens, rights of setoff, revocation, refund, chargeback or overdraft protection, and other
similar Liens existing solely with respect to cash and cash equivalents on deposit in one or more accounts maintained by the Borrower or any member of the Consolidated Group, in each case granted in the ordinary course of business in favor of the
bank or banks with which such accounts are maintained, securing amounts owing to such bank with respect to cash management and operating account arrangements, including those involving pooled accounts and netting arrangements and (ii) Liens or
rights of setoff against credit balances of the Borrower or any member of the Consolidated Group with credit card issuers or credit card processors or amounts owing by payment card issuers or payment card processors to Borrower or any member of the
Consolidated Group in the ordinary course of business; 

  

	 	(h)	 Liens arising from any monetization, securitization or other financing of accounts receivable or other
receivables (including any related rights or claims) or in connection with factoring programs entered into in the ordinary course of business and consistent with past practice and on a non-recourse basis to
the Borrower and its Subsidiaries; provided, that such Liens do not encumber any property or assets other than the accounts receivable or other receivables (including any related rights or claims) subject to such monetization, securitization,
financing or factoring arrangement and any proceeds of the foregoing; provided, further, that the aggregate principal amount of the obligations secured by such Liens shall not exceed (i) prior to the Disbursement Date, $750,000,000 or
(ii) on or after the Disbursement Date, $1,500,000,000. 

  

	 	(i)	 Liens incurred in connection with pollution control, industrial revenue or similar financing,

  

	 	(j)	 survey exceptions and such matters as an accurate survey would disclose, easements, trackage rights, leases,
licenses, special assessments, rights of way covenants, conditions, restrictions 

  
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and declarations on or with respect to the use of real property, servicing agreements, development agreements, site plan agreements and other similar encumbrances incurred in the ordinary course
of business and title defects or irregularities that are of a minor nature and that, in the aggregate, do not interfere in any material respect with the ordinary conduct of the business of the Borrower or any member of the Consolidated Group; and

  

	 	(k)	 any extension, renewal or replacement (or successive extensions, renewals or replacements), as a whole or in
part, of any Borrowed Debt secured by any Lien referred to in subclauses (a) through (k) of this Clause 11.13; provided, that (i) such extension renewal or replacement Lien shall be limited to all or a part of the same property,
shares of stock or Debt that secured the Lien extended, renewed or replaced (plus improvements on such property) and (ii) the Borrowed Debt secured by such Lien at such time is not increased. 

 

	11.14	 Disposal of Assets 

 

	 	(a)	 The Borrower shall not, without the prior written consent of JBIC (such consent not to be unreasonably
withheld), sell, lease or transfer or otherwise dispose of, whether by a single transaction or a series of transactions (whether or not related), assets or properties which would have a material adverse effect on the ability of the Borrower to
perform its payment obligations under this Agreement, so long as the Borrower has agreed to an equivalent agreement in its financing agreement and such agreement remains effective. 

 

	 	(b)	 Paragraph (a) does not apply to any sale, lease, transfer or other disposal made in the ordinary course
of the Borrower’s business. 

  

	11.15	 No Merger or Change of Business 

The Borrower shall not, without the prior written consent of JBIC, merge or consolidate with or into, or convey, transfer,
lease or otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (other than Unrestricted Margin Stock) (whether now owned or hereafter acquired) to, any Person, or permit any member of
the Consolidated Group to do so, except that: 
  

	 	(a)	 any member of (x) the Consolidated Group other than the Borrower may merge or consolidate with or into
or (y) the Consolidated Group may dispose of assets to, in each case, any other member of the Consolidated Group; 

  

	 	(b)	 the Borrower may merge with any other Person so long as (i) the Borrower is the surviving entity or
(ii) the surviving entity shall succeed, by agreement reasonably satisfactory in form and substance to the JBIC, to all of the businesses and operations of the Borrower and shall assume all of the rights and obligations of the Borrower under
this Agreement and the other Loan Documents (it being understood that notwithstanding the foregoing, the consummation of the Transactions shall not be prohibited by this Clause 11.15 or otherwise pursuant hereto); 

 

	 	(c)	 any member of the Consolidated Group (other than the Borrower) may merge or consolidate with or into another
Person, convey, transfer, lease or otherwise dispose of all or any portion of its assets so long as (i) the consideration received in respect of such merger, consolidation, conveyance, transfer, lease or other disposition is at least equal to
the fair market value of such assets and (ii) no Material Adverse Effect would reasonably be expected to result from such merger, consolidation, conveyance, transfer, lease or other disposition; 

provided, in the cases of clause (a), (b) and (c) hereof, that no Default or Event of Default (or, during the
Certain Funds Period, no Certain Funds Default) shall have occurred and be continuing at the time of such proposed transaction or would result therefrom. 

  
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	11.16	 Additional or Substitutional Security / Guarantee 

The Borrower shall, upon request by JBIC, immediately: 

 

	 	(a)	 provide JBIC with such additional security; or 

 

	 	(b)	 obtain such absolute, irrevocable and unconditional guarantee, 

for the Loan as JBIC requires, in each case, such additional security or guarantee shall, within thirty (30) days of
JBIC’s first written demand therefor, be submitted to JBIC and shall be in form and substance satisfactory to JBIC in all respects. 
  

	11.17	 Financial Covenants 

The Borrower shall ensure all of the Financial Covenants in Attachment 1 (Financial Covenants) shall be observed. 

 

	11.18	 Use of Proceeds 

The proceeds of the Disbursement will be used in accordance with the provisions of Clause 3 (Use of Proceeds). No part
of the proceeds of the Disbursement will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations U and X. The Borrower will not request the Disbursement, and the
Borrower shall not use, and the Borrower shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of the Disbursement (i) for payments to any Person in violation of
any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or
transaction would be prohibited by Sanctions if conducted by a corporation incorporated in the United States, Japan, the United Kingdom or in a European Union member state or (iii) in any other manner that would result in the violation of any
Sanctions applicable to any party hereto. 
  

	11.19	 Anti-Social Conduct / Anti-Social Groups 

Each party hereto shall ensure that (i) it is not classified as an Anti-Social Group, nor shall any such party have any
Anti-Social Relationship nor engage in any Anti-Social Conduct, whether directly or indirectly through a third party and (ii) it shall not make any claim against any other party hereto for any damages or losses suffered or incurred as a result
of such other party exercising its rights under this Agreement as a result of any breach of this Clause 11.19 or any misrepresentation in connection with Clause 9.1.11 (Anti-Corruption / Sanctions / Anti-Social Groups). 

 

	12.	 Events of Default 

 

	12.1	 Events of Default 

Each of the events set out in this Clause is an Event of Default, on the occurrence of which JBIC may (subject to Clause 4.2(b)
(Further Conditions to Disbursement)) by notice in writing to the Borrower: 
  

	 	(a)	 suspend the Disbursement; and/or 

 

	 	(b)	 cancel the Unutilized Amount of the Facility; and/or 

 

	 	(c)	 declare that any amounts outstanding under this Agreement are immediately due and payable.

  

	12.2	 Non-payment 

The Borrower fails (i) to pay any principal when the same becomes due and payable or (ii) to pay any interest or make
any payment of fees or other amounts payable under this Agreement within five (5) Business Days after the same becomes due and payable. 

  
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	12.3	 Breach of Other Obligations 

 

	 	(a)	 The Borrower breaches any provision of Clause 11 (Particular Covenants) Subclauses 4 (Preservation of
Existence, Etc.) (i), 8 (Reporting Requirements) (a)(iv), 9 (Conduct of the Scheme) 12 (No Encumbrance), 15 (No Merger or Change of Business) or 17 (Financial Covenants). 

 

	 	(b)	 The Borrower breaches any provision of Clause 11 (Particular Covenants) Subclauses 5 (Visitation
Rights), 8 (reporting Requirements) (a) (i)-(iii) or (v)-(vii), unless such breach: 

  

	 	(i)	 is capable of remedy; and 

 

	 	(ii)	 is remedied within ten (10) business days of the earlier of JBIC giving notice in writing and the
Borrower becoming aware of such non-compliance. 

  

	 	(c)	 The Borrower breaches any provision of Clause 11 (Particular Covenants) other than Subclauses listed
in (a) and (b) above, unless such breach: 

  

	 	(i)	 is capable of remedy; and 

 

	 	(ii)	 is remedied within thirty (30) days of the earlier of JBIC giving notice in writing and the Borrower
becoming aware of such non-compliance. 

  

	 	(d)	 The Borrower does not comply with any other term, condition or provision of this Agreement other than Clause
10.3 (Environmental and Social Considerations), unless such non-compliance: 

  

	 	(i)	 is capable of remedy; and 

 

	 	(ii)	 is remedied within thirty (30) days of the earlier of JBIC giving notice in writing and the Borrower
becoming aware of such non-compliance. 

  

	12.4	 Misrepresentation 

Any representation or warranty made or repeated by the Borrower in this Agreement, or in any other document delivered by or on
behalf of the Borrower under this Agreement is incorrect in any material respect when made or deemed to be repeated unless the circumstances giving rise to the misrepresentation: 

 

	 	(a)	 are capable of remedy; and 

 

	 	(b)	 are remedied within fifteen (15) days of the earlier of JBIC giving notice in writing and the Borrower
becoming aware of such misrepresentation. 

  

	12.5	 Cross-Default 

Any of the following occurs in relation to the Borrower or any Significant Subsidiary: 

 

	 	(a)	 fails to pay any principal of or premium or interest on any Indebtedness that is outstanding in a principal
amount of at least $200,000,000 in the aggregate (but excluding Indebtedness outstanding hereunder) when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall
continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness; 

  

	 	(b)	 any other event shall occur or condition shall exist under any agreement or instrument relating to any such
Indebtedness and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or

  

	 	(c)	 any such Indebtedness shall be declared to be due and payable, or required to be prepaid or redeemed (other
than by a regularly scheduled required prepayment or redemption), purchased 

  
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or defeased, or an offer to prepay, redeem, purchase or defease such Indebtedness shall be required to be made, in each case prior to the stated maturity thereof. 

 

	12.6	 Cross Default—Other JBIC Agreements 

Notwithstanding Clause 12.5 (Cross-Default), JBIC becomes entitled, duly pursuant to the applicable Other JBIC
Agreements, to: 
  

	 	(a)	 declare any Indebtedness under any such Other JBIC Agreement immediately due and payable prior to its stated
maturity; or 

  

	 	(b)	 suspend any disbursement in respect of any such Other JBIC Agreement. 

 

	12.7	 Reschedule, Cessation, Insolvency, Dissolution or Other Similar Event 

The Borrower or any Significant Subsidiary shall generally not pay its debts as such debts become due, or shall admit in
writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against the Borrower or any Significant Subsidiary seeking to adjudicate it as bankrupt or
insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of its debts under any law relating to bankruptcy, insolvency, or reorganization or relief of debtors, or seeking the entry of
an order for relief or the appointment of receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it), such
proceeding shall remain undismissed or unstayed for a period of sixty (60) days; or the Borrower or any Significant Subsidiary shall take any corporate action to authorize any of the actions set forth above in this Clause 12.7. With respect to
the Borrower or any Significant Subsidiary organized under the laws of Japan, the following shall constitute an Event of Default: if (i) the Borrower makes an express declaration or implicit declaration of its inability to pay its debts to its
creditors generally (shiharai teishi); (ii) a bank clearinghouse refuses to process the Borrower’s checks (tegata torihiki teishi shobun); or densai.net Co., Ltd. (iii) an order is issued by a court for the attachment (whether
preliminary or otherwise) or preservation of the Borrower’s material property, estate or other right and is not discharged within sixty (60) days; (iv) a receiver or trustee is appointed for all or a portion of the property or estate of
the Borrower; (v) an involuntary petition for commencement of bankruptcy (hasan), corporate reorganization (kaisha kosei), civil rehabilitation (minji saisei), special liquidation (tokubetsu seisan) or similar
proceedings are filed against the Borrower and are not discharged within sixty (60) days; (vi) the Borrower files a voluntary petition (including a petition filed by a director of the Borrower) to commence, or a court of competent jurisdiction
approves an involuntary petition with respect to and commences the procedure of, any of the proceedings specified in subparagraph (v) above; (vii) a voluntary petition to commence a special conciliation proceeding (tokutei choutei); or
(viii) the Borrower adopts a resolution for liquidation at a meeting of its shareholders. 
  

	12.8	 Laws and Consents 

 

	 	(a)	 It is or becomes unlawful for the Borrower to perform any of its obligations under this Agreement.

  

	 	(b)	 Any Public Requirement in the Borrower’s Country, which is necessary for or advisable in connection
with: 

  

	 	(i)	 the validity, enforceability or performance of this Agreement or any agreement or instrument required under
this Agreement; or 

  

	 	(ii)	 the admissibility in evidence of this Agreement, 

is revoked, is not issued or renewed on time, or ceases to remain in full force and effect. 

  
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	 	(c)	 This Agreement shall cease to be valid and binding obligations of the Borrower or the validity of this
Agreement shall be contested by the Borrower or the Borrower denies liability under this Agreement in a way which is materially adverse to the interest of JBIC and any other lenders pursuant to Clause14.1 (Assignment) hereof taken as a whole.

  

	12.9	 Clean-up 

Notwithstanding anything in this Agreement to the contrary, for a period commencing on the Closing Date and ending on the date
falling one hundred eighty (180) days after the Closing Date (the “Clean-up Date”), notwithstanding any other provision of any Loan Document, any breach of covenants, misrepresentation or
other default which arises with respect to the Target Group will be deemed not to be a breach of representation or warranty, a breach of covenant or an Event of Default, as the case may be, if: 

 

	 	(a)	 it is capable of remedy and reasonable steps are being taken to remedy it; 

 

	 	(b)	 the circumstances giving rise to it have not knowingly been procured by or approved by the Borrower; and

  

	 	(c)	 it is not reasonably likely to have a Material Adverse Effect. 

If the relevant circumstances are continuing on or after the Clean-up Date, there shall
be a breach of representation or warranty, breach of covenant or Event of Default, as the case may be, notwithstanding the above. 
  

	13.	 Governing Law and Dispute Resolution 

 

	13.1	 Governing Law 

This Agreement, will be construed in accordance with, and is governed by the law of Japan. 

 

	13.2	 Jurisdiction 

 

	 	(a)	 Subject to Clause 13.2(c) (Jurisdiction), the Tokyo District Court have exclusive jurisdiction to
settle any action, suit, dispute, or other legal proceeding arising out of, relating to or having any connection with this Agreement (including any action, suit, dispute, or other legal proceeding relating to any
non-contractual obligation arising from or in connection with this Agreement and any dispute regarding the existence, validity, interpretation, performance, breach or termination of this Agreement or the
consequences of its nullity) (a “Dispute”). 

  

	 	(b)	 The Borrower agrees that the courts referred to in Clause 13.2(a) (Jurisdiction) are the most
appropriate and convenient courts to settle Disputes and accordingly agrees not to assert (by way of motion, as a defense or otherwise) that a Dispute has been brought in an inconvenient forum, that the courts referred to in Clause 13.2(a)
(Jurisdiction) are an improper venue for a Dispute or that this Agreement or the subject matter of this Agreement may not be enforced in or by such courts. 

 

	 	(c)	 To the extent allowed by law, JBIC may take proceedings relating to a Dispute in any other courts with
jurisdiction, and concurrent proceedings in any number of jurisdictions. 

  

	13.3	 Waiver of Immunities 

 

	 	(a)	 To the fullest extent permitted by law, the Borrower, with respect to itself and its revenues and assets
(irrespective of their use or intended use), irrevocably and unconditionally: 

  

	 	(i)	 waives and agrees not to claim any sovereign, diplomatic or other immunity, from the jurisdiction of the
courts referred to in Clause 13.2(a) (Jurisdiction) in relation to any 

  
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Dispute (including to the extent that such immunity may be attributed to it), and agrees to ensure that no such claim is made on its behalf; 

 

	 	(ii)	 to the jurisdiction of the courts referred to in Clause 13.2(a) (Jurisdiction) and the courts of any
other jurisdiction in relation to the recognition of any judgment or order of the court referred to in Clause 13.2(a) (Jurisdiction) or the courts of any other jurisdiction in relation to any Dispute and waives and agrees not to claim any
sovereign, diplomatic or other immunity from the jurisdiction of the courts referred to in Clause 13.2(a) (Jurisdiction) or the courts of any other jurisdiction in relation to the recognition of any such judgment or court order and agrees to
ensure that no such claim is made on its behalf; and 

  

	 	(iii)	 consents to the enforcement of any order or judgment made or given in connection with any Dispute and the
giving of any relief in the courts referred to in Clause 13.2(a) (Jurisdiction) and the courts of any other jurisdiction whether before or after final judgment including, without limitation (i) relief by way of interim or final
injunction or order for specific performance or recovery of any property; (ii) attachment of its assets; and (iii) enforcement or execution against any property, revenues or other assets whatsoever (irrespective of their use or intended
use) and waives and agrees not to claim any sovereign, diplomatic or other immunity from the jurisdiction of the courts referred to in Clause 13.2(a) (Jurisdiction) or the courts of any other jurisdiction in relation to such enforcement and
the giving of such relief (including to the extent that such immunity may be attributed to it), and agrees to ensure that no such claim is made on its behalf. 

 

	 	(b)	 The Borrower irrevocably and unconditionally acknowledges that the execution, delivery and performance of
this Agreement constitute private and commercial (and not public) acts of the Borrower. 

  

	14.	 Miscellaneous Provisions 

 

	14.1	 Assignment 

 

	 	(a)	 Subject to Paragraph (b) and (c) below, this Agreement shall be binding upon and inure to the benefit
of the Borrower and JBIC and their respective successors and assigns. 

  

	 	(b)	 The Borrower may not assign or transfer any or all of its rights and/or obligations under this Agreement
without the prior written consent of JBIC. 

  

	 	(c)	 JBIC may assign or transfer any or all of its rights and/or obligations under this Agreement following good
faith consultation with the Borrower, provided that during the Certain Funds Period, JBIC shall not be permitted to make any such assignment or transfer. 

  

	14.2	 No Release 

Any claim or dispute arising out of or in connection with any other contract or agreement, whether or not related to the Target
Acquisition, shall not: 
  

	 	(a)	 have any effect upon the Borrower’s obligations under this Agreement; and 

 

	 	(b)	 in any way be deemed to release the Borrower from such obligations being absolute and unconditional.

  

	14.3	 No Waiver, Remedies Cumulative 

 

	 	(a)	 Any term of this Agreement may be amended or waived with the agreement of the Borrower and JBIC.

  
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	 	(b)	 The rights of JBIC under this Agreement: 

 

	 	(i)	 may be exercised as often as necessary; 

 

	 	(ii)	 are cumulative and not exclusive of its rights under general law; and 

 

	 	(iii)	 may be waived only in writing and then only in the instance and purpose for which it was given.

  

	 	(c)	 Any delay in exercising or non-exercise of any right or remedy by
JBIC is not a waiver of that right nor shall any single or partial exercise of any right or remedy prevent any further or other exercise of any other right or remedy. 

 

	14.4	 Partial Illegality 

If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that will
not affect the legality, validity or enforceability in: 
  

	 	(a)	 that jurisdiction of any other term of this Agreement; or 

 

	 	(b)	 other jurisdictions of that provision or any other term of this Agreement. 

 

	14.5	 Contract Construction 

 

	 	(a)	 Headings: Clause and Sub-Clause headings and the Table of
Contents in this Agreement are inserted for ease of reference only and shall have no effect on the interpretation of any of the provisions hereof. 

  

	 	(b)	 References: In this Agreement, references to: 

 

	 	(i)	 this Agreement or any other agreement or document are to this Agreement or, as the case may be, such other
agreement or document as the same may be amended, varied, novated or supplemented from time to time; 

  

	 	(ii)	 Clauses, Sub-Clauses, Paragraphs or Attachments are to Clauses, Sub-Clauses, Paragraphs or Attachments of this Agreement; 

  

	 	(iii)	 any act, statute, ordinance or enactment shall be deemed to include references to such act, statute,
ordinance or enactment as re-enacted, amended, extended, consolidated or replaced and any orders, decrees, proclamations, regulations, instruments or other subordinate legislation made and enforced from time
to time thereunder; 

  

	 	(iv)	 any Person shall be construed so as to include its successors, permitted assigns and permitted transferees;
and 

  

	 	(v)	 a “successor” shall be construed so as to include a successor in title of such party and any
Person who under the Laws of its jurisdiction or domicile has assumed the rights and obligations of such party under this Agreement or by which, under such Laws, rights and obligations have been assumed. 

 

	 	(c)	 Singular and Plural: Where the context so requires, words importing the singular number shall include
the plural and vice versa. 

  

	 	(d)	 Attachments: The Attachments to this Agreement form an integral part hereof. 

 

	14.6	 Confidentiality 

Each of the Borrower and JBIC shall treat this Agreement as confidential and shall not disclose to any Person any provision of
or information regarding this Agreement without the prior written consent of 

  
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JBIC, except to the extent that (i) such disclosure is required by applicable Law, or regulations or by any subpoena or similar legal process including to the Panel or pursuant to the City
Code; (ii) such disclosure is requested by Ministry of Finance, Board of Audit of Japan, or any other regulatory authority purporting to have jurisdiction over it or its Affiliates; (iii) such disclosure is made to its Affiliates or to its
own and its Affiliates’ respective managers, administrators, trustees, partners, directors, officers, employees, agents, attorneys, certified public accountants, licensed tax accountants, other advisors (and their legal advisors) and other
representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (iv) such disclosure is requested in
connection with the exercise of any remedies hereunder or any action or proceeding relating to this Agreement or the enforcement of rights hereunder or thereunder; (v) such disclosure is subject to an agreement containing provisions
substantially the same as those of this Clause and is made, to (a) any assignee of or participant in, or any prospective assignee of or participant in, any of its rights or obligations under this Agreement, (b) any actual or prospective
party (or its managers, administrators, trustees, partners, directors, officers, employees, agents, advisors and other representatives) to any swap or derivative or similar transaction under which payments are to be made by reference to the Borrower
and its obligations, this Agreement or payments hereunder, (c) any rating agency, (d) the CUSIP Service Bureau or any similar organization or (e) any Person to whom or for whose benefit JBIC has created a security interest in all or any
portion of its rights under this Agreement pursuant to Clause 14.1 or (vi) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to JBIC on a non-confidential basis from a source other than the Borrower. JBIC acknowledges that its ability to disclose information concerning the Transactions is restricted by the City Code and the Panel and that Clause 14.6
is subject to those restrictions. 
 For purposes of this Agreement, “Information” means this Agreement and
the other Loan Documents and all information received in writing and clearly identified as confidential or proprietary at that time or thereafter without undue delay from the Consolidated Group relating to the Consolidated Group or any of their
respective businesses, other than any such information that is available to JBIC on a non-confidential basis prior to disclosure by the Consolidated Group and other than information pertaining to this
Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry. Any Person required to maintain the confidentiality of Information as provided in this Section shall be
considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

 

	14.7	 Change of Evidence of Authority 

 

	 	(a)	 If there is any change in the form or substance of the Evidence of Authority after the date of the Documents
Receipt, the Borrower must promptly: 

  

	 	(i)	 notify JBIC in writing of such change; and 

 

	 	(ii)	 provide JBIC with the relevant Evidence of Authority accompanied by the Specimen Signatures in respect of
such change. 

  

	 	(b)	 JBIC may rely upon and refer to the Evidence of Authority previously received by JBIC until JBIC receives
the revised Evidence of Authority. 

  

	14.8	 Use of English Language 

Any document or material to be provided in connection with this Agreement must be: 

 

	 	(a)	 in English or Japanese; or 

 

	 	(b)	 in the language of the Borrower’s Country accompanied by a certified English translation, which
translation shall prevail unless the document is a statutory or other official document. 

  
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	14.9	 Communications 

Unless otherwise specified in this Agreement, all communications between the parties hereto must be by: 

 

	 	(a)	 registered air mail, with any such communication deemed to have been duly given or made
seven (7) days after being deposited in the mail; 

  

	 	(b)	 internationally recognized courier services, with any such communication deemed to have been duly given or
made when such internationally recognized courier service is received by the recipient; or 

  

	 	(c)	 facsimile (promptly confirmed by registered air mail or internationally recognized courier services), with
any such communication deemed to have been duly given or made when such facsimile is received by the recipient, 

to the following addresses or at such other address as any party may designate by written notice to the other party: 

The contact details of the Borrower for this purpose are: 

 

			
	Address:	  	 Takeda Pharmaceutical

		  	 Company Limited

		
		  	 1-1, Nihonbashi-Honcho

		  	 2-Chome,
Chuo-ku

		  	 Tokyo 103-8668, Japan

		
	Fax number:	  	
81-3-3278-2198

		
	Attention:	  	 Global Treasury and

		  	 Finance Management

		  	 Head.

 The contact details of JBIC for this purpose are: 

 

			
	Address:	  	 Japan Bank for International

		  	 Cooperation

		
		  	 4-1, Ohtemachi
1-chome,

		  	 Chiyoda-ku,

		
		  	 Tokyo 100-8144, Japan

		
	Fax number:	  	
81-3-5218-3967

		
	Attention:	  	 Director General, Industry

		  	 Finance Group, Corporate

		  	 Finance Department.

  

	14.10	 Abbreviation 

This Agreement may be referred to as “JBIC Loan to Takeda” in communications between JBIC and the Borrower, as well
as in relevant documents. 
 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the Borrower and JBIC, acting through their duly authorized
representatives, have caused this Agreement to be duly executed in duplicate in the English language and signed in their respective names on the several dates and at the several places herein below written. The date of signature by JBIC in Tokyo,
Japan shall be deemed to be the date of conclusion of this Agreement and the office of JBIC in Tokyo, Japan shall be deemed to be the place of signing of this Agreement. 
  

									
	 TAKEDA PHARMACEUTICAL

COMPANY LIMITED
	 		 	 Japan Bank for International Cooperation

					
	 By
	 	 /s/ Costa Saroukos
	 		 	 By
	 	  

	 Name:
	 	 Costa Saroukos
	 		 	 Name:
	 	
	 Title:
	 	 Chief Financial Officer
	 		 	 Title:
	 	
	 Date:
	 	 December 3, 2018
	 		 	 Date:
	 	
	 Place:
	 	 1-1, Nihonbashi-Honcho 2-Chome,

Chuo-ku Tokyo 103-8668, Japan
	 		 	 Place:
	 	

  
 Signature Page to

 Loan Agreement 

Table of Contents

 IN WITNESS WHEREOF, the Borrower and JBIC, acting through their duly authorized
representatives, have caused this Agreement to be duly executed in duplicate in the English language and signed in their respective names on the several dates and at the several places herein below written. The date of signature by JBIC in Tokyo,
Japan shall be deemed to be the date of conclusion of this Agreement and the office of JBIC in Tokyo, Japan shall be deemed to be the place of signing of this Agreement. 
  

									
		 	 TAKEDA PHARMACEUTICAL

COMPANY LIMITED
	 		 	 Japan Bank for International Cooperation

					
	 By
	 	  
	 		 	 By
	 	 /s/ Kazuhiko Tanaka

	 Name:
	 		 		 	 Name:
	 	 Kazuhiko Tanaka

	 Title:
	 		 		 	 Title:
	 	 Managing Executive Officer

	 Date:
	 		 		 		 	 Global Head of Industry Finance Group

	 Place:
	 		 		 	 Date:
	 	 December 3, 2018

		 		 		 	 Place:
	 	 Tokyo, Japan

  
 Signature Page to

 Loan Agreement 

Table of Contents

 Attachment 1        Financial
Covenants 
  

	1.	 Beginning on the later of (i) the last day of the first fiscal half year ending at least one full
fiscal quarter after the Closing Date (which for the avoidance of doubt shall be no later than March 31, 2020) and (ii) (A) if the fiscal year end is December 31, June 30 2019, or (B) if the fiscal year end is March 31,
September 30 2019 and the last day of each fiscal half year ending thereafter, the Borrower will not permit, as of the last day of any such fiscal half year (each such date, the “Testing Date”) the ratio of
(x) Consolidated Net Debt at such time to (y) Consolidated EBITDA of the Borrower for the four (4) consecutive fiscal quarter period ending as of such date to exceed the ratio set forth in the applicable table below for such
applicable Testing Date: 

  

			
	 Testing Date (if fiscal year end is March 31)
	  	Ratio Level
		
	September 30 2019 (if the Closing Date occurs on or prior to June 30 2019)	  	5.95 to 1.00
		
	March 31 2020 and September 30 2020	  	5.35 to 1.00
		
	March 31 2021 and September 30 2021	  	4.30 to 1.00
		
	March 31 2022, September 30 2022, March 31 2023 and September 30 2023	  	4.00 to 1.00
		
	 March 31 2024 and September 30 2024
	  	3.75 to 1.00
		
		  	(if the Term Loan Maturity Date has not occurred, 4.00 to 1.00)
		
	 March 31 2025 and thereafter
	  	3.50 to 1.00
		
		  	(if the Term Loan Maturity Date has not occurred, 4.00 to 1.00)

  

	2.	 The Borrower shall ensure that (a) remains greater than seventy five percent (75%) of (b):

  

	 	(a)	 the total equity listed in the consolidated statement of financial position on the last day of each fiscal
year (from which the exchange differences on translation of foreign operations listed in the consolidated statement of changes in equity on the last day of each fiscal year is deducted); 

 

	 	(b)	 the total equity listed in the consolidated statement of financial position on the last day of the most
recent second quarterly finance period (from which the exchange differences on translation of foreign operations listed in the consolidated statement of changes in equity on the last day of the most recent second quarterly finance period is
deducted). 

  

	3.	 The Borrower shall ensure that (a) remains greater than seventy five present (75%) of (b):

  

	 	(a)	 the total equity listed in the consolidated statement of financial position on the last day of each second
quarterly finance period (from which the exchange differences on translation of foreign operations listed in the consolidated statement of changes in equity on the last day of each second quarterly finance period is deducted); 

 

	 	(b)	 the total equity listed in the consolidated statement of financial position on the last day of the most
recent fiscal year (from which the exchange differences on translation of foreign operations listed in the consolidated statement of changes in equity on the last day of the most recent fiscal year is deducted). 

 

	4.	 The Borrower’s profit before tax listed in the consolidated statement of profit or loss on the last day
of each fiscal year shall not be negative for two (2) consecutive fiscal year. 

  

	5.	 So far as and to the extent that any clauses of any Syndicated Loan which is substantially equivalent to the
Clauses 2, 3 or 4 above is terminated, amended, restated or waived, such termination, amendment, 

  
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restatement or waiver shall apply mutatis mutandis to this Agreement following mutual consultation between JBIC and the Borrower in good faith and in a timely manner. 

 

	6.	 If a Testing Date would have occurred in the fiscal quarter in which the Borrower changed its fiscal year
end to December 31 (the “Fiscal Year Change”) but does not because of such Fiscal Year Change, the last day of such fiscal quarter shall be a Testing Date notwithstanding the Fiscal Year Change. 

 

	7.	 Notwithstanding the foregoing, in the event that the Borrower incurs indebtedness in an amount no less than
US$ 5,000,000,000 in connection with an Acquisition and the Borrower’s Public Debt Rating is equal to or higher than each of (x) Baa3 from Moody’s and (y) BBB- from S&P, then the
Borrower shall be permitted on one (1) occasion during the term of this Agreement to allow the maximum ratio of Consolidated Net Debt to Consolidated EBITDA permitted pursuant to this Attachment to be increased to 5.00 to 1.00 (if the then
applicable required ratio level is lower than 5.00 to 1.00); provided that on the second Testing Date after the Testing Date on which such maximum ratio was increased to 5.00 to 1.00, the maximum ratio permitted under this Attachment shall be 4.50
to 1.00, on the fourth Testing Date after the Testing Date on which such maximum ratio was increased to 5.00 to 1.00, the maximum ratio permitted under this Attachment shall be 4.00 to 1.00, on the sixth Testing Date after the Testing Date on which
such maximum ratio was increased to 5.00 to 1.00, the maximum ratio permitted under this Attachment shall be 3.75 to 1.00 (if the Term Loan Maturity Date has not occurred, 4.00 to 1.00) and on the eighth Testing Date after the Testing Date on which
such maximum ratio was increased to 5.00 to 1.00, the maximum ratio permitted under this Attachment shall be 3.50 to 1.00 (if the Term Loan Maturity Date has not occurred, 4.00 to 1.00). 

 

	8.	 For purposes of calculating the aggregate principal amount of the Consolidated Net Debt of the Borrower on
any such date, the currency exchange rate used for such calculation shall be the rate used in the annual or semi-annual financial statements for such date; provided, however, that if the Borrower determines that an average exchange rate is a more
accurate reflection of the value of such currency over such four (4) consecutive fiscal quarter period, the currency exchange rate used may be, at the option of the Borrower, the currency exchange rate used for the statement of income of the
Borrower for such fiscal half year. 

  

	9.	 For the purposes of this Attachment: 

“Acquisition” means any acquisition (whether by purchase, merger, consolidation or otherwise) or series of
related acquisitions by the Borrower or any Subsidiary after the Effective Date of (i) at least a majority of the assets of (or at least a majority of the assets constituting a business unit, division, product line or line of business of) any
Person, or (ii) at least the majority of the Equity Interests in a Person or division or line of a Person. 

“Borrowed Debt” means any Debt for money borrowed, including loans, hybrid securities, debt convertible into
Equity Interests and any Debt represented by notes, bonds, debentures or other similar evidences of Debt for money borrowed. 

“Consolidated” refers to the consolidation of accounts in accordance with IFRS. 

“Consolidated EBITDA” means, for any fiscal period, the Consolidated net profit of the Consolidated Group for
such period determined in accordance with IFRS plus the following, to the extent deducted in calculating such Consolidated net profit: (a) the provision for Federal, state, local and foreign taxes based on income, profits, revenue, business
activities, capital or similar measures payable by the Consolidated Group in each case, as set forth on the financial statements of the Consolidated Group, (b) share of loss of investments accounted for using the equity method,
(c) Consolidated Interest Expense and dividend expense, (d) any losses (including all fees and expenses or charges relating thereto) on the retirement of debt, (e) any extraordinary, unusual, nonrecurring or non-cash impairments, charges, expenses or losses (including impairments, charges, fees, expenses and losses incurred in connection with the Transactions or any issuance of Debt or equity, acquisitions, investments,
restructuring activities, asset sales or divestitures permitted hereunder, purchase accounting effects, derivatives transactions and other finance expenses and other operating expenses), (f) non-cash stock

  
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option expenses, non-cash equity-based compensation and/or non-cash expenses related to stock-based compensation,
(g) any foreign currency exchange losses, (h) losses (including all fees and expenses or charges relating thereto) on sales of assets outside of the ordinary course of business and losses from discontinued operations and
(i) depreciation and amortization expense and minus, to the extent included in calculating such Consolidated net profit for such period, the sum of (i) share of profit of investments accounted for using the equity method,
(ii) interest and dividend income, (iii) any gains (less all fees and expenses or charges relating thereto) on the retirement of debt, (iv) any extraordinary, unusual, nonrecurring or non-cash
income (including other finance income ), (v) gains (less all fees and expenses or charges relating thereto) on the sales of assets outside of the ordinary course of business and gains from discontinued operations (without duplication of any amounts
added back in Clause (a) of this definition) and (vi) any foreign currency exchange gains, all as determined on a Consolidated basis. Consolidated EBITDA will be calculated on a pro forma basis as if the Transactions and any related
incurrence or repayment of Debt by any member of the Consolidated Group had occurred on the first day of the relevant period, but shall not take into account any cost savings or synergies projected to be realized as a result of such acquisition or
disposition other than cost savings or cost synergies that are factually supportable and quantifiable pro forma cost savings or expense reductions related to operational efficiencies (including the entry into any material contract or arrangement),
strategic initiatives or purchasing improvements and other cost savings, improvements or cost synergies, in each case, that have been realized, or are reasonably expected to be realized, by any member of the Consolidated Group based upon actions to
be taken within 12 months after the consummation of the action as if such cost savings, expense reductions, improvements and cost synergies occurred on the first day of the relevant period; provided that the aggregate amount of such cost savings and
cost synergies, together with any cost savings and cost synergies included in the calculation of Consolidated EBITDA pursuant to the immediately succeeding sentence, shall not exceed, for any such fiscal period, ten percent (10%) of Consolidated
EBITDA for such period (as calculated without giving effect this sentence or the immediately succeeding sentence). In addition, in the event that any member of the Consolidated Group acquired or disposed of any Person, business unit or line of
business or made any investment during the relevant period, Consolidated EBITDA will be determined giving pro forma effect to such acquisition, disposition or investment as if such acquisition, disposition or investment and any related incurrence or
repayment of Debt had occurred on the first day of the relevant period, but shall not take into account any cost savings or synergies projected to be realized as a result of such acquisition or disposition other than cost savings or cost synergies
that are factually supportable and quantifiable pro forma cost savings or expense reductions related to operational efficiencies (including the entry into any material contract or arrangement), strategic initiatives or purchasing improvements and
other cost savings, improvements or cost synergies, in each case, that have been realized, or are reasonably expected to be realized, by any member of the Consolidated Group based upon actions to be taken within 12 months after the consummation of
the action as if such cost savings, expense reductions, improvements and cost synergies occurred on the first day of the relevant period; provided that the aggregate amount of such cost savings and cost synergies, together with any cost savings and
cost synergies included in the calculation of Consolidated EBITDA pursuant to the immediately preceding sentence, shall not exceed, for any such fiscal period, ten percent (10%) of Consolidated EBITDA for such period (as calculated without giving
effect this sentence or the immediately preceding sentence). 
 “Consolidated Interest Expense” means, for
any fiscal period, the total interest expense of the Consolidated Group on a Consolidated basis determined in accordance with IFRS, including the imputed interest component of capitalized lease obligations during such period, and all commissions,
discounts and other fees and charges owed with respect to letters of credit, if any, and net costs under Hedge Agreements; provided that if any member of the Consolidated Group acquired or disposed of any Person or line of business during the
relevant period (including for the avoidance of doubt the Transactions), Consolidated Interest Expense will be determined giving pro forma effect to any incurrence or repayment of Debt related to such acquisition or disposition as if such incurrence
or repayment of Debt had occurred on the first day of the relevant period. 

  
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 “Consolidated Net Assets” means the aggregate amount of
assets (less applicable reserves and other properly deductible items) after deducting therefrom all current liabilities, as set forth on the Consolidated balance sheet of the Consolidated Group most recently furnished to the JBIC pursuant to Clause
11.8 (Reporting Requirements) (i)(ii) prior to the time as of which Consolidated Net Assets shall be determined. 

“Consolidated Net Debt” means, as of any date of determination, the aggregate amount of Borrowed Debt of the
Consolidated Group determined on a Consolidated basis as of such date, minus all unrestricted cash and cash equivalents of the Consolidated Group. 

“Consolidated Tangible Assets” means, as of any date of determination thereof, Consolidated Total Assets
minus, without duplication, (x) the Intangible Assets of the Consolidated Group and (y) goodwill of the Consolidated Group, in each case on such date. 

“Consolidated Total Assets” means, as of the date of any determination thereof, total assets of the
Consolidated Group calculated in accordance with IFRS on a consolidated basis as of such date. 
 “Debt” of
any Person means, without duplication, (a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services that would appear as a liability on the balance sheet
of such Person prepared in accordance with IFRS (other than trade payables incurred in the ordinary course of such Person’s business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments,
(d) all obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such
agreement in the event of default are limited to repossession or sale of such property), (e) all obligations of such Person as lessee under leases that have been or should be, in accordance with IFRS, recorded as capital leases, (f) all
obligations, contingent or otherwise, of such Person in respect of acceptances, letters of credit or similar extensions of credit, (g) all obligations of such Person in respect of Hedge Agreements, (h) all Debt of others referred to in
Clauses (a) through (g) above or Clause (i) below directly guaranteed in any manner by such Person, or the payment of which is otherwise provided for by such Person, and (i) all Debt referred to in Clauses (a) through (h) above
secured by any Lien on property (including, without limitation, accounts and contract rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such Debt; provided, however, that the amount of such
Debt will be the lesser of (x) the fair market value of such asset at such date of determination and (y) the amount of such other Debt. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest. 

“Hedge Agreements” means interest rate swap, cap or collar agreements, interest rate future or option
contracts, currency swap agreements, currency future or option contracts and other similar agreements. 
 “Intangible
Assets” means the aggregate amount, for the Consolidated Group on a consolidated basis, of all assets classified as intangible assets under IFRS, including, without limitation, customer lists, acquired technology, computer software,
trademarks, patents, copyrights, organization expenses, franchises, licenses, trade names, brand names, mailing lists, catalogs, unamortized debt discount and capitalized research and development costs. 

“Syndicated Loan” means each of : 
  

	 	(a)	 a syndicated loan agreement dated 23 July 2013 entered into among, inter alia, the Borrower as
borrower, various financial institutions indicated therein as lenders, Sumitomo Mitsui Banking Corporation as the agent and Sumitomo Mitsui Banking Corporation and MUFG Bank, Ltd. as the arrangers; 

  
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	 	(b)	 a syndicated loan agreement dated 22 April 2016 entered into among, inter alia, the Borrower as
borrower, various financial institutions indicated therein as lenders, Sumitomo Mitsui Banking Corporation as the agent and Sumitomo Mitsui Banking Corporation and MUFG Bank, Ltd. as the arrangers; and 

 

	 	(c)	 a syndicated loan agreement dated 31 March 2017 entered into among, inter alia, the Borrower as
borrower, various financial institutions indicated therein as lenders, Sumitomo Mitsui Banking Corporation as the agent and Sumitomo Mitsui Banking Corporation and MUFG Bank, Ltd. as the arrangers. 

“Term Loan” means the term loan credit agreement dated 8 June 2018 entered into among, the Borrower as
borrower, various financial institutions indicated therein as lenders and JPMorgan Chase Bank, N.A. as administrative agent. 

“Term Loan Maturity Date” means the Maturity Date defined in the Term Loan. 

  
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 Attachment 2        Definitions

 “Acceptance Condition” means, in respect of a Takeover Offer, the condition to the Takeover Offer
with respect to the number of acceptances to the Takeover Offer which must be secured to declare the Takeover Offer unconditional as to acceptances (as set out in the Offer Press Announcement). 

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, controls, is
controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, the term “control” (including the terms “controlling”, “controlled by” and
“under common control with”) of a Person means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Stock, by contract or
otherwise. 
 “Amortization Notice” has the meaning given in Paragraph (a) of Clause 5.2
(Arrangement of the Amortization Schedule). 
 “Amortization Schedule” means the schedule of the
dates and amounts of repayments of the Loan, as amended from time to time in accordance with Clause 5 (Repayment). 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower
or any of its Subsidiaries from time to time concerning or relating to bribery or corruption. 
 “Anti-Social
Conduct” means (i) a demand and conduct with force and arms; (ii) an unreasonable demand and conduct having no legal cause; (iii) threatening or committing violent behavior relating to its business transactions; (iv) an
action to defame the reputation or interfere with the business of JBIC by spreading rumor, using fraudulent means or resorting to force; or (v) other actions similar or analogous to any of the foregoing in any jurisdiction. 

“Anti-Social Group” means: 
  

	 	(a)	 an organized crime group (as defined in the Law relating to Prevention of Unjustifiable Acts by Gang Members
of Japan (Law No. 77 of 1991, as amended)); 

  

	 	(b)	 a member of an organized crime group; 

 

	 	(c)	 a person who used to be a member of an organized crime group but has only ceased to be a member of an
organized crime group for a period of less than 5 years; 

  

	 	(d)	 quasi-member of an organized crime group; 

 

	 	(e)	 a related or associated company of an organized crime group; 

 

	 	(f)	 a corporate racketeer or blackmailer advocating social cause or a special intelligence organized crime
group; or 

  

	 	(g)	 a member of any other criminal force similar or analogous to any of the foregoing in any jurisdiction.

 “Anti-Social Relationship” means in relation a Person: 

 

	 	(a)	 an Anti-Social Group controls its management; 

 

	 	(b)	 an Anti-Social Group is substantively involved in its management; 

 

	 	(c)	 it has entered into arrangements with an Anti-Social Group for the purpose of, or which have the effect of,
unfairly benefiting itself or a third party or prejudicing a third party; 

  

	 	(d)	 it is involved in the provision of funds or other benefits to an Anti-Social Group; or

  

	 	(e)	 any of its directors or any other person who is substantively involved in its management has a socially
objectionable relationship with an Anti-Social Group. 

 “Board” means the Board of
Governors of the Federal Reserve System of the United States of America. 

  
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 “Borrower” has the meaning given in the opening Paragraph
of this Agreement. 
 “Borrower’s Country” means Japan 

“Business Day” means a day on which banks and other financial institutions are open for foreign exchange
business in Tokyo, London and New York. 
 “CERCLIS” means the Comprehensive Environmental Response,
Compensation and Liability Information System maintained by the U.S. Environmental Protection Agency. 
 “Certain
Funds Default” means an Event of Default arising from any of the following (other than in respect of any Subsidiary of the Borrower, the Target or any Subsidiary of the Target, or a breach of a procurement obligation with respect to any
Subsidiary of the Borrower, the Target or any Subsidiary of the Target): 
  

	 	(a)	 Clause 12.2 (Non-payment) (in so far as it relates to payment
of principal and/or interest only); 

  

	 	(b)	 Clause 12.3 (Breach of Other Obligations) as it relates to the failure to perform any of the
following covenants: 

  

	 	(i)	 Clause 11.4 (i) (Preservation of Existence) 

 

	 	(ii)	 Clause 11.9 (Conduct of the Scheme) (other than paragraphs (h), (i) and (k) thereof);

  

	 	(iii)	 Clause 11.13 (No Encumbrance); or 

 

	 	(iv)	 Clause 11.15 (No Merger or Change of Business); 

 

	 	(c)	 Clause 12.4 (Misrepresentation) as it relates to a Certain Funds Representation; or

  

	 	(d)	 Clause 12.7 (Reschedule, Cessation, Insolvency, Dissolution or Other Similar Event) in relation to
the Borrower, but excluding, in relation to involuntary proceedings referenced therein, any Event of Default caused by a frivolous or vexatious action, proceeding or petition in respect of which no order or decree in respect of such involuntary
proceeding shall have been entered. 

 “Certain Funds Period” means the period commencing
on the Effective Date and ending on the earlier of (i) the date on which a Mandatory Cancellation Event occurs, for the avoidance of doubt, on such date but immediately after the relevant Mandatory Cancellation Event occurs or first exists or
(ii) if the Borrower has served written notice to JBIC in accordance with the definition of Commitment Termination Date to extend the Commitment Termination Date to the date that is 60 days after the Closing Date so that up to $2,100,000,000
Commitments remain outstanding until such date, the date that is 60 days after the Closing Date. 
 “Certain Funds
Purposes” means: 
  

	 	(a)	 where the Target Acquisition proceeds by way of a Scheme: 

 

	 	(i)	 payment (directly or indirectly) of the cash price payable by the Borrower to the holders of the Scheme
Shares in consideration of the acquisition of such Scheme Shares pursuant to the Scheme; 

  

	 	(ii)	 financing (directly or indirectly) the consideration payable to holders of options to acquire Target Shares
pursuant to any proposal in respect of those options as required by the City Code; 

  

	 	(iii)	 financing (directly or indirectly) the fees, costs and expenses in respect of the Transactions; and

  

	 	(iv)	 repayment of certain Existing Target Indebtedness (which the Borrower may from time to time elect); or

  
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	 	(b)	 where the Target Acquisition proceeds by way of a Takeover Offer: 

 

	 	(i)	 payment (directly or indirectly) of all or part of the cash price payable by the Borrower to the holders of
the Target Shares subject to the Takeover Offer in consideration of the acquisition of such Target Shares pursuant to the Takeover Offer; 

  

	 	(ii)	 payment (directly or indirectly) of the cash consideration payable to the holders of Target Shares pursuant
to the operation by Borrower of the procedures contained in Articles 117 and 121 of the Jersey Companies Law; 

  

	 	(iii)	 financing (directly or indirectly) the consideration payable to holders of options to acquire Target Shares
pursuant to any proposal in respect of those options as required by the City Code; 

  

	 	(iv)	 financing (directly or indirectly) the fees, costs and expenses in respect of the Transactions; and

  

	 	(v)	 repayment of certain Existing Target Indebtedness (which the Borrower may from time to time elect).

 “Certain Funds Representations” means each of the following: 

 

	 	(a)	 Clause 9.1.1 (Status of Borrower and its Business); 

 

	 	(b)	 Clause 9.1.2(a) (Power and Internal Authorization) Subclauses (i), (ii) and (iii) (but excluding
9.1.2(a)(iii)(C) and also excluding subclause 9.1.2(a)(iv)); 

  

	 	(c)	 Clause 9.1.3 (Public Requirement); 

 

	 	(d)	 Clause 9.1.4 (Form and Effect of this Agreement); and 

 

	 	(e)	 Clause 9.1.12 (a), (b)(ii) and (c) (Scheme), 

in each case only insofar as it relates to the Borrower (excluding, for the avoidance of doubt, any Subsidiary of the Borrower,
Target or any Subsidiary of Target). 
 “City Code” means the City Code on Takeovers and Mergers applicable,
inter alia, to takeovers of listed companies in the United Kingdom and to Jersey listed companies pursuant to the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009. 

“Clean-up Date” has the meaning given in Clause 12.9 (Clean-up). 
 “Closing Date” means the date on which each of the
conditions set forth in Attachment 3 Part 2 (Further Conditions Precedent) have been satisfied (or waived in accordance with Clause 14.3) 

“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

“Commitment” means the commitment of JBIC to make the Disbursement pursuant to this Loan. 

“Commitment Termination Date” means the earlier of (a) the date on which a Mandatory Cancellation Event
occurs, for the avoidance of doubt, on such date but immediately after the relevant Mandatory Cancellation Event occurs or first exists; provided that, if the Closing Date has occurred prior to the date described in this Clause (a), up to
$2,100,000,000 of Commitments shall remain outstanding until the date that is sixty (60) days after the Closing Date if so elected by the Borrower by written notice to JBIC prior to the Closing Date and (b) the date on which the
Commitments are terminated in full in accordance with Clause 4.5 (Termination of Commitment) or, subject to Clause 4.2(b) (Further Conditions to Disbursement), Clause 12.1(Events of Default). 

“Conditions Precedent Documents” means the documents specified in Clause 4.1 (Conditioned Precedent
Documents). 
 “Consolidated Group” means, prior to the consummation of the Target Acquisition, the
Borrower and its Subsidiaries (excluding the Target and its Subsidiaries) and thereafter, the Borrower and its Subsidiaries (including the Target and its Subsidiaries). 

  
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 “Court” means the Royal Court of Jersey. 

“Court Meeting” means the meeting or meetings of Scheme Shareholders (or any adjournment thereof) to be
convened by order of the Court under Article 125(1) of the Jersey Companies Law for the purposes of considering and, if thought fit, approving the Scheme. 

“Court Order” means the Act of Court sanctioning the Scheme under Article 125(2) of the Jersey Companies Law.

 “Default” means any condition or event which constitutes an Event of Default or which with the giving of
notice or lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Disbursement”
means the disbursement under the Facility in accordance with the provisions of this Agreement. 
 “Disbursement
Date” has the meaning given in Clause 4.3 (Disbursement). 
 “Disbursement Procedures” means
the disbursement procedures set forth in Attachment 4 (Disbursement Procedure).  
 “Disclosure
Letter” means that certain disclosure letter dated as of the Effective Date from the Borrower to JBIC. 

“Dispute” has the meaning given in Paragraph (a) of Clause 13.2 (Jurisdiction). 

“Documents Receipt” has the meaning given in Clause 4.1 (Conditions Precedent Documents). 

“EEA Financial Institution” means (a) any institution established in any EEA Member Country which is
subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any institution established in an
EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 “EEA Resolution Authority” means any public administrative authority or any Person entrusted with public
administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the date of the Documents Receipt issued pursuant to Clause 4.1 (Conditions
Precedent Documents). 
 “Eligible Currency” has the meaning given in Clause 2.2 (Currency). 

“Environmental Action” means any action, suit, demand, demand letter, claim, notice of noncompliance or
violation, notice of liability or potential liability investigation, proceeding, consent order or consent agreement relating in any way to any Environmental Law, Environmental Permit or Hazardous Materials or arising from alleged injury or threat of
injury to health, safety or the environment, including, without limitation, (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages and (b) by any governmental or
regulatory authority or any third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief. 

“Environmental and Social Considerations” means the considerations described in Clause 10.3 (Environmental
and Social Considerations) and the JBIC Environmental Guidelines; 
 “Environmental Law” means any
applicable federal, state, local or foreign statute; law (including common law); ordinance; rule; regulation; code; final and binding court order; judgment; decree or judicial or agency interpretation, policy or guidance; or agency order relating to
pollution or protection of the environment, health, safety or natural resources, including, without limitation, those relating to the use, handing, transportation, treatment, storage, disposal, release or discharge of Hazardous Materials. 

  
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 “Environmental Permit” means any permit, approval,
identification number, license or other authorization required under any Environmental Law. 
 “ERISA” means
the Employee Retirement Income Security Act of 1974, as amended from time to time, and the applicable regulations promulgated thereunder. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is a member of the
Borrower’s controlled group, or under common control with the Borrower, within the meaning of Section 414 of the Code. 

“ERISA Event” means: 
  

	 	(a)	 (i) the occurrence of a reportable event, within the meaning of Section4043 of ERISA, with respect to any
Single Employer Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC, or (ii) the requirements of subsection (1) of Section 4043(b) of ERISA (without
regard to subsection (2) of such Section) are being met with a contributing sponsor, as defined in Section 4001 (a)(l 3) of ERISA, of a Single Employer Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of
Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within the following 30 days unless the 30-day notice requirement has been waived by the PBGC; 

 

	 	(b)	 the application for a minimum funding waiver with respect to a Single Employer Plan; 

 

	 	(c)	 the termination of or provision of a notice of intent to terminate any Plan pursuant to
Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA) or otherwise so as to incur liability of the Borrower or any ERISA Affiliate under Title IV of ERISA (other
than premiums due to the PBGC); 

  

	 	(d)	 the cessation of operations at a facility of the Borrower or any ERISA Affiliate in the circumstances
described in Section 4062(e) of ERISA; 

  

	 	(e)	 the withdrawal by the Borrower or any ERISA Affiliate from a Multiple Employer Plan during a plan year for
which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA; 

  

	 	(f)	 the conditions for the imposition of a lien under Section 303(k) of ERISA shall have been met with
respect to any Plan; or 

  

	 	(g)	 the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or
the occurrence of any event or condition described in Section 4042 of ERISA that could constitute grounds for the termination of a Plan, or the appointment of a trustee to administer a Single Employer Plan or Multiple Employer Plan.

 “Escrow Account” means any account established for the purpose of depositing funds
prior to their being applied towards Certain Funds Purposes. 
 “Events of Default” has the meaning given in
Clause 12.1 (Events of Default). 
 “Evidence of Authority” means the documentary evidence of the
authority of each Person who: 
  

	 	(a)	 has signed this Agreement on behalf of the Borrower; and 

 

	 	(b)	 will sign the statements, reports, certificates and other documents required under this Agreement or will
otherwise act as a representative of the Borrower in relation to the implementation, administration or performance of this Agreement, 

(such documentary evidence to include certified copies of all corporate consents obtained in order to authorize the execution,
delivery and performance by the Borrower of this Agreement and the transactions contemplated hereby). 
 “Existing
Target Indebtedness” means indebtedness of the Target existing on the Closing Date. 

  
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 “Facility” means the loan facility described in Clause 2.1
(Facility). 
 “Financial Covenants” has the meaning given in Clause 11.17 (Financial
Covenants). 
 “Floating Rate” means, with respect to any Interest Period or Overdue Period: 

 

	 	(a)	 the rate per annum (on the basis of a year of three hundred sixty (360) days) quoted on the Reuters
page LIBOR01 for the purpose of displaying London interbank offered rate administered by ICE Benchmark Administration Limited (or any other Person which takes over the administration of that rate) in U.S. Dollars (“LIBOR”) or if
such page ceases to display, such other page on Reuters which displays such rate or on such other service as may be duly selected by JBIC as suitable for determining LIBOR, for a period of six (6) months, at approximately 11:00 a.m., London
time, on each Quotation Date; or 

  

	 	(b)	 if no rate is quoted on such pages on each such Quotation Date, the average (rounded upwards, if necessary,
to the nearest one-sixteenth of one per cent (1/16%)) of the rates per annum for a period of six (6) months at which deposits in U.S. Dollars are offered to at least three Reference Banks, as set out
below, in the London interbank market, in each case, at approximately 11:00 a.m., London time, on each such Quotation Date. “Reference Banks” shall mean three (3) banks duly selected by JBIC. In the event that such rate is not
available at such time for any reason, then “Floating Rate” for such Interest Period or Overdue Period shall be duly determined by JBIC, 

and if, in either case, that rate is less than zero, the Floating Rate shall be deemed to be zero. 

“Foreign Exchange Act” means the Foreign Exchange and Foreign Trade Act of Japan (Law No. 59 of 2009, as
amended). 
 “General Meeting” means the extraordinary general meeting of the holders of Target Shares (or
any adjournment thereof) to be convened in connection with the implementation of a Scheme. 
 “Governmental
Authority” means the government of Japan, the United States of America, or any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or
other entity exercising executive,’ legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 

“Hazardous Materials” means (a) petroleum and petroleum products, byproducts or breakdown products,
radioactive materials, asbestos-containing materials, polychlorinated biphenyls and radon gas and (b) any other chemicals, materials or substances designated, classified or regulated as “hazardous” or “toxic” or as a
“pollutant” or “contaminant” or for which liability may be imposed, under any Environmental Law. 

“IFRS” means the International Financial Reporting Standards, as promulgated by the International Accounting
Standards Board (or any successor board or agency), as in effect on the Effective Date. 
 “Indebtedness”
means any obligation (whether incurred as principal or surety) for the payment or repayment of money, whether present or future, actual or contingent, and for or in respect of: 

 

	 	(a)	 amounts borrowed; 

 

	 	(b)	 amounts of any deferred purchase price of property or services, the payment of which has been deferred in
excess of thirty (30) days; 

  

	 	(c)	 guarantee, letters of credit or banker’s acceptances; 

 

	 	(d)	 amounts payable under or evidenced by bonds, debentures, notes or other similar instruments;

  

	 	(e)	 leases or hire purchase contracts, which would in accordance with generally accepted accounting principles
be treated as finance or capital leases; or 

  

	 	(f)	 amounts raised under any other transaction (including, without limitation, any forward sale or purchase
agreement) having the commercial effect of a borrowing. 

  
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	 	“Interest”	 has the meaning given in Clause 6.1.1 (Interest). 

 

	 	“Interest	 Payment Date” has the meaning given in Clause 6.1.3 (Interest Payment Date).

  

	 	“Interest	 Period” has the meaning given in Clause 6.1.4 (Interest Period). 

“Interest Rate” has the meaning given in Clause 6.1.2 (Rate of Interest). 

“JBIC” means Japan Bank for International Cooperation. 

“JBIC Environmental Guidelines” means the “JBIC Guidelines for Confirmation of Environmental and Social
Considerations” (January 2015). 
 “JBIC’s Account” means the bank account described in Clause
8.1.2 (Account of JBIC). 
 “Jersey Companies Law” means the Companies (Jersey) Law 1991. 

“Law” means any convention, treaty, law, ordinance, decree, rule, directive, regulation, judicial or arbitral
decision, or voluntary restraint, policy or guideline or any of the provisions of the foregoing (as amended, supplemented or replaced from time to time) binding on or affecting the party referred to in the context in which the term is used. 

“LIBOR Business Day” means a day on which dealings in deposits in U.S. Dollars are carried on in the London
interbank market. 
 “Lien” means any lien, security interest or other charge or encumbrance of any kind, or
any other type of preferential arrangement, intended as a security interest, including, without limitation, the lien or retained security title of a conditional vendor and any easement, right of way or other encumbrance on title to real property.

 “Litigation” means any of court proceedings, arbitration proceedings or administrative proceedings. 

“Loan” has the meaning given in Clause 5.1 (Repayment of Loan). 

“Loan Documents” means this Agreement and any amendments, notes or notices entered into in connection
herewith. 
 “Long Stop Date” means 8 August 2019 or such other date as may be agreed in writing
between JBIC and the Borrower.  
 “Mandatory Cancellation Event” means the occurrence of any
of the following conditions or events: 
  

	 	(a)	 where the Target Acquisition proceeds by way of a Scheme: 

 

	 	(i)	 the Court Meeting is held (and not adjourned or otherwise postponed) to approve the Scheme at which a vote
is held to approve the Scheme, but the Scheme is not so approved in accordance with Article 125(2) of the Jersey Companies Law by the requisite majority of the Scheme Shareholders at such Court Meeting; 

 

	 	(ii)	 the General Meeting is held (and not adjourned or otherwise postponed) to pass the Scheme Resolutions at
which a vote is held on the Scheme Resolutions, but the Scheme Resolutions are not passed by the requisite majority of the shareholders of Target at such General Meeting; 

 

	 	(iii)	 an application for the issuance of the Court Order is made to the Court (and not adjourned or otherwise
postponed) but the Court (in its final judgment) refuses to grant the Court Order; 

  

	 	(iv)	 either the Scheme lapses or it is withdrawn with the consent of the Panel or by order of the Court; or

  

	 	(v)	 the date which is 15 days after the Scheme Effective Date; 

unless, in respect of paragraphs (i) to (iv) inclusive above, for the purpose of switching from a Scheme to a Takeover
Offer, within five (5) Business Days of such event the Borrower has 

  
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notified JBIC that the Borrower intends to issue, and then within ten (10) Business Days after delivery of such notice the Borrower does issue, an Offer Press Announcement and provides a
copy to JBIC (in which case no Mandatory Cancellation Event shall have occurred); 
  

	 	(b)	 where the Target Acquisition proceeds by way of a Takeover Offer: 

 

	 	(i)	 such Takeover Offer lapses, terminates or is withdrawn unless, for the purpose of switching from a Takeover
Offer to a Scheme, within five (5) Business Days of such event the Borrower has notified JBIC that the Borrower intends to issue, and then within ten (10) Business Days after delivery of such notice the Borrower does issue, a Scheme Press
Release and provides a copy to JBIC (in which case no Mandatory Cancellation Event shall have occurred); or 

  

	 	(ii)	 the date which is six (6) weeks after the date (or to the extent necessary to address a minority
shareholder’s application to the Court in protest thereof and written notice is provided to JBIC on or prior to the end of such initial six (6) week period, twelve weeks after the date) that the Borrower serves notice under Article 117 of
the Jersey Companies Law to buy out minority shareholders; 

  

	 	(c)	 the date upon which all payments made or to be made for Certain Funds Purposes have been paid in full in
cleared funds; or 

  

	 	(d)	 the date which is 15 days after the Long Stop Date. 

“Mandatory Prepayment Event” means each of the events listed in Clause 7.2 (Mandatory Prepayment).
 
 “Margin” has the meaning given in Clause 6.1.2 (Rate of Interest). 

“Margin Stock” has the meaning provided in Regulation U. 

“Material Adverse Effect” means a material adverse effect on (a) the financial condition or results of
operations of the Borrower or the Consolidated Group taken as a whole, (b) the rights and remedies of JBIC under this Agreement, taken as a whole, (c) the ability of the Borrower to perform its or their payment obligations under this
Agreement. 
 “Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of
ERISA, to which the Borrower or any ERISA Affiliate is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions. 

“Multiple Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that
(a) is maintained for employees of the Borrower or any ERISA Affiliate and at least one Person other than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which the Borrower or any ERISA Affiliate could have
liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated. 

“Necessary Environmental Review” means an ongoing review: 

 

	 	(a)	 of the effect of local environmental Laws and standards on the business, operations and properties of the
Borrower and its subsidiaries; and 

  

	 	(b)	 in the course of which the Borrower identifies and evaluates liabilities and costs related thereto
(including, without limitation, with respect to any clean-up or closure of properties, in compliance with applicable operating constraints, disposal of wastes and possible liabilities to employees and other
third parties). 

 “NPL” means the National Priorities List under the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended from time to time. 
 “Offer
Documents” means the Takeover Offer Document and the Offer Press Announcement. 

  
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 “Offer Press Announcement” means a press announcement
released by or on behalf of the Borrower in accordance with Rule 2.7 of the City Code announcing that the Target Acquisition is to be effected by a Takeover Offer and setting out the terms and conditions of the Takeover Offer. 

“Original Scheme Press Release” means the Scheme Press Release released by the Borrower on May 8, 2018.

 “Other JBIC Agreement” means any agreement other than this Agreement involving the borrowing of money or
the extension of credit or any guarantee or indemnity between the Borrower or any Subsidiary of the Borrower and JBIC (either acting alone or acting together with one or more other banks or financial institutions or acting through a special purpose
company). For the avoidance of doubt, this includes any contract initially entered into with the Borrower on or before 31 March 2012, by any of The Export-Import Bank of Japan, Japan Bank for International Cooperation and/or Japan Bank for
International Cooperation which constitutes the international arm of Japan Finance Corporation (each of which being a predecessor organization of JBIC). 

“Overdue Amount” has the meaning given in Paragraph (a) of Clause 6.2.1 (Overdue Interest). 

“Overdue Interest” has the meaning given in Paragraph (a) of Clause 6.2.1 (Overdue Interest). 

“Overdue Interest Rate” has the meaning given in Paragraph (a) of Clause 6.2.2 (Overdue Interest
Rate). 
 “Overdue Period” has the meaning given in Clause 6.2.3 (Overdue Period). 

“Panel” means the Panel on Takeovers and Mergers. 

“Person” means an individual, partnership, corporation (including a business trust), joint stock company,
trust, unincorporated association, joint venture, limited liability company or other entity, or a government or any political subdivision or agency thereof. 

“Plan” means a Single Employer Plan or a Multiple Employer Plan. 

“Planned Amortization Schedule” has the meaning given in Paragraph (b) of Clause 5.1 (Repayment of
Loan). 
 “Plan Asset Regulations” means 29 CFR §
2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time. 

“Projections” means any projections and any forward-looking statements (including statements with respect to
booked business) of the Consolidated Group furnished to JBIC by or on behalf of the Borrower prior to the Closing Date. 

“Public Requirement” means approvals, authorizations, consents, licenses, recordations and filings,
registrations, and other acts, in any court, central bank, government or other public office or elsewhere. 

“Quotation Date” means: 
  

	 	(a)	 with respect to any Interest Period, the day which is two (2) LIBOR Business Days prior to the
commencement of such Interest Period; and 

  

	 	(b)	 with respect to any Overdue Period, the day which is two (2) LIBOR Business Days prior to:

  

	 	(i)	 the day on which the Overdue Amount becomes due and payable (for the period from and including such due date
up to and excluding the immediately succeeding Revision Date (in the case where such period includes the date of actual receipt of the payment by JBIC, up to and excluding such date)); or 

 

	 	(ii)	 each succeeding Revision Date (for the subsequent period from and including such Revision Date up to and
excluding the immediately succeeding Interest Payment Date (in the case where such period includes the date of actual receipt of the payment by JBIC, up to and excluding such date)) 

  
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 “Relevant Currency” has the meaning given in Paragraph
(c) of Clause 8.2 (Other Payment Obligations). 
 “Relevant Information” means: 

 

	 	(a)	 any information which has been provided by the Borrower in connection with this Agreement or the Target
Acquisition; and 

  

	 	(b)	 any and all facts which materially and adversely affect or may affect (to the extent the Borrower can now
reasonably foresee), the business, operations or financial condition of the Borrower or the ability of the Borrower to perform its obligations under this Agreement. 

“Repayment Date” has the meaning given in Paragraph (b) of Clause 5.1 (Repayment of Loan);

 “Responsible Officer” means, with respect to the Borrower, the Chief Executive Officer, the Chief
Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Head of Corporate Law, Japan Legal and the General Counsel of the Borrower (or other executive officer of the Borrower performing similar functions) or any other officer
of the Borrower responsible for overseeing or reviewing compliance with this Agreement 
 “Restricted Margin
Stock” means Margin Stock owned by the Consolidated Group the value of which (determined as required under clause 2(i) of the definition of “Indirectly Secured” set forth in Regulation U) represents not more than 25% of the
aggregate value (determined as required under clause (2)(i) of the definition of “Indirectly Secured” set forth in Regulation U), on a consolidated basis, of the property and assets of the Consolidated Group (excluding any Margin Stock)
that is subject to the provisions of Clause 11.13 (No Encumbrance) or Clause 11.15 (No Merger or Change of Business). 

“Revision Date” has the meaning given in Paragraph (b) of Clause 6.2.2 (Overdue Interest
Rate); 
 “Sanctioned Country” means, at any time, a country, region or territory which is itself
the subject or target of comprehensive Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria). 

“Sanctioned Person” means, at any time: 

 

	 	(a)	 any Person listed in any Sanctions-related list of designated Persons maintained by OFAC, the U.S.
Department of State, the Ministry of Finance of Japan, the United Nations Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom, any relevant and applicable European Union member state or other relevant sanctions
authority; 

  

	 	(b)	 any Person operating, organized or resident in a Sanctioned Country; 

 

	 	(c)	 any Person owned or controlled by any such Person or Persons described in the foregoing Clauses (a) or
(b); or 

  

	 	(d)	 any Person otherwise the subject of any Sanctions. 

“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from
time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, (b) the Japanese government, including those imposed under the Foreign Exchange Act and the Import Trade Control Order of Japan
(Cabinet Order No. 414 of 1949, as amended) or (c) the United Nations Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom or any relevant and applicable European Union member state or other relevant
sanctions authority. 
 “Scheme” means a scheme of arrangement to be effected under Article 125 of the
Jersey Companies Law between Target and the Scheme Shareholders pursuant to which the Borrower will become the holder of all of the Scheme Shares in accordance with the Scheme Documents, subject to such changes and amendments to the extent not
prohibited by the Loan Documents. 

  
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 “Scheme Circular” means the document issued by or on behalf
of Target to the Scheme Shareholders setting out the terms and conditions of and an explanatory statement in relation to the Scheme, stating the recommendation of the Target Acquisition and the Scheme to the Scheme Shareholders by the board of
directors of Target and setting out the notices of the Court Meeting and the General Meeting as such document may be amended from time to time to the extent such amendment is not prohibited by the Loan Documents. 

“Scheme Documents” means, collectively (a) the Scheme Press Release, (b) the Scheme Circular,
(c) the Scheme Resolutions and (d) any other document issued by or on behalf of Target to its shareholders in respect of the Scheme and any other document designated as a “Scheme Document” by JBIC and the Borrower. 

“Scheme Effective Date” means the date on which the Court Order sanctioning the Scheme is duly delivered on
behalf of Target to the Registrar in accordance with Article 125(3) of the Jersey Companies Law. 
 “Scheme Press
Release” means a press announcement released by the Borrower in accordance with Rule 2.7 of the City Code announcing that the Target Acquisition is to be effected by a Scheme and setting out the terms and conditions of the Scheme. 

“Scheme Resolutions” means the resolutions of the shareholders of Target which are required to implement the
Scheme and which are referred to and substantially in the form set out in the Scheme Circular and which are to be proposed at the General Meeting. 

“Scheme Shareholders” means the registered holders of Scheme Shares at the relevant time. 

“Scheme Shares” means the Target Shares which are subject to the Scheme in accordance with its terms. 

“Short Value” has the meaning given in Clause 8.3 (Different Currency Receipt). 

“Significant Subsidiary” means any Subsidiary of the Borrower that constitutes a “significant
subsidiary” under Regulation S-X promulgated by the Securities and Exchange Commission, as in effect from time to time. 

“Single Employer Plan” means a single employer plan, as defined in Section 4001 (a)( 15) of ERISA, that
(a) is maintained for employees of the Borrower or any ERISA Affiliate and no Person other than the Borrower and the ERISA Affiliates or (b) was so maintained and in respect of which the Borrower or any ERISA Affiliate could have liability
under Section 4069 of ERISA in the event such plan has been or were to be terminated. 
 “Specified
Currency” has the meaning given in Clause 2.2 (Currency). 
 “Specimen Signatures” means
authenticated, as per Borrower’s existing procedures, specimen of signatures of and certificates of incumbency in respect of any Person(s) who are referred to in the Evidence of Authority. 

“Subsidiary” means, with respect to any Person, any corporation, partnership, joint venture, limited liability
company, trust or estate of which (or in which) more than 50% of (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether at the time
capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such limited liability company, partnership or joint venture or
(c) the beneficial interest in such trust or estate is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries.

 “Takeover Offer” means a “takeover offer” within the meaning of Article 116(1) of the Jersey
Companies Law proposed to be made by the Borrower to acquire (directly or indirectly) Target Shares, 

  
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substantially on the terms and conditions set out in an Offer Press Announcement (as such offer may be amended in any way which is not prohibited by the terms of the Loan Documents). 

“Takeover Offer Document” means the document issued by or on behalf of the Borrower and dispatched to
shareholders of the Target in respect of a Takeover Offer containing the terms and conditions of the Takeover Offer reflecting the Offer Press Announcement in all material respects as such document may be amended from time to time to the extent such
amendment is not prohibited by the Loan Documents. 
 “Target” means Shire plc. 

“Target Acquisition” means the direct or indirect acquisition, pursuant to the Offer Documents or Scheme
Documents, as applicable, of the Target Shares, which acquisition will be effected pursuant to a Takeover Offer or Scheme. 

“Target Group” means the Target and its Subsidiaries. 

“Target Shares” means all of the issued and to be issued ordinary shares in the capital of the Target
(including any issued pursuant to the exercise of any options or awards or other instruments convertible into or exchangeable for shares of the Target). 

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, withholdings
(including back-up withholdings), assessments, fees or other like charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Transactions” means the Target Acquisition, the entry into this Agreement and the transactions contemplated
hereby, the borrowings by the Borrower under the Commitments, and in each case, related fees costs and expenses. 

“Unrestricted Margin Stock” means any Margin Stock owned by the Consolidated Group which is not Restricted
Margin Stock. 
 “Unutilized Amount” means an amount equal to the difference between (A) the amount of
the Facility and (B) the total aggregate amount actually disbursed to the Borrower under this Agreement. 

“U.S. Dollars” or “US$” means the lawful currency of the United States of America from time to time.

 “Voting Stock” means shares of capital stock issued by a corporation, or equivalent interests in any
other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote has been suspended by the
happening of such a contingency. 
 “Withdrawal Liability” has the meaning specified in Part I of Subtitle E
of Title IV of ERISA. 

  
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 Attachment 3        Conditions
Precedent 
 Part 1    Conditions Precedent Documents to the Disbursement 

 

	 	(a)	 JBIC (or its counsel) shall have received from each party hereto either (i) a counterpart of this
Agreement and the other Loan Documents signed on behalf of such party or (ii) written evidence reasonably satisfactory to JBIC (which may include .pdf or facsimile transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement. 

  

	 	(b)	 All fees and other amounts then due and payable by the Borrower to JBIC under the Loan Documents or pursuant
to any fee or similar letters relating to the Loan Documents shall be paid, to the extent invoiced by the relevant person at least one Business Day prior to the Effective Date and to the extent such amounts are payable on or prior to the Effective
Date. 

  

	 	(c)	 JBIC shall have received on or before the Effective Date, each dated on or about such date:

  

	 	(i)	 Certified copies of the resolutions or similar authorizing documentation of the governing bodies of the
Borrower authorizing such Person to enter into and perform its obligations under the Loan Documents to which it is a party; 

  

	 	(ii)	 Certified copies of the Borrower’s articles of incorporation, certificate of incorporation and bylaws
(or comparable organizational documents) and any amendments thereto; 

  

	 	(iii)	 A certificate of commercial registry (rireki jikou zenbu shomeisho) of the Borrower issued by a Legal
Affairs Bureau and certifying that all information required to be registered under the laws of Japan has been registered in the commercial registry; 

  

	 	(iv)	 A customary certificate of the Borrower certifying the names and true signatures of the officers of the
Borrower authorized to sign this Agreement and the other documents to be delivered by it hereunder; and 

  

	 	(v)	 A favorable opinion letter of Gaikokuho Kyodo-Jigyo Horitsu Jimusho Linklaters, in each case in form and
substance reasonably satisfactory to JBIC. 

  

	 	(d)	 JBIC shall have received a copy, certified by the Borrower, of the Original Scheme Press Release.

  

	 	(e)	 JBIC shall have received, at least three (3) Business Days prior to the Effective Date, so long as
requested no less than ten (10) Business Days prior to the Effective Date, all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including the Criminal Proceeds Transfer Prevention Act of Japan (Law No. 22 of 2007, as amended), in each case relating to the Borrower and its Subsidiaries, including the Borrower. 

 

	 	(f)	 JBIC shall have received a copy of the Disclosure Letter, it being acknowledged that JBIC shall not have any
approval right as regards the form or contents of the Disclosure Letter. 

 Part
2    Further Conditions Precedent 
  

	 	(a)	 The Effective Date shall have occurred. 

 

	 	(b)	 If the Target Acquisition is effected by way of a Scheme, JBIC shall have received: 

 

	 	(i)	 a certificate of the Borrower signed by a director certifying: 

 

	 	(A)	 that the confirmation provided to JBIC pursuant to paragraph (c)(iv) of Part 1 of Attachment 3 remains
correct, or otherwise a new confirmation in substantially the same form setting out the names and true signatures of the officers of the Borrower authorized to sign the documents to be delivered by it under this Agreement; 

  
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	 	(B)	 the date on which the Scheme Circular was posted to the shareholders of the Target; 

 

	 	(C)	 the date on which the Court has sanctioned the Scheme and that the Court Order has been duly delivered to
the Registrar in accordance with Article 125(3) of the Jersey Companies Law; 

  

	 	(D)	 confirmation as to the satisfaction of each condition set forth in Clauses (d) and (e) below;

  

	 	(E)	 the Target Acquisition shall have been, or, within the time period permitted by the City Code, shall be,
consummated in all material respects in accordance with the terms and conditions of the Scheme Documents except to the extent not prohibited by the Loan Documents; and 

 

	 	(F)	 each copy of the documents specified in paragraph (ii) below is correct and complete and has not been
amended or superseded on or prior to the Closing Date, except to the extent such changes thereto have been required pursuant to the City Code or required by the Panel or by a court of competent jurisdiction or to the extent not prohibited by the
Loan Documents; and 

  

	 	(ii)	 a copy of the Scheme Circular which is consistent in all material respects with the terms and conditions in
the Scheme Press Release and the Scheme Resolutions, in each case, except to the extent changes thereto have been required pursuant to the City Code or required by the Panel or by a court of competent jurisdiction or are not prohibited by the Loan
Documents. 

  

	 	(c)	 If the Target Acquisition is effected by way of a Takeover Offer, the JBIC shall have received:

  

	 	(i)	 a certificate of the Borrower signed by a director certifying: 

 

	 	(A)	 the date on which the Takeover Offer Document was posted to the shareholders of the Target;

  

	 	(B)	 confirmation as to the satisfaction of each condition set forth in clauses (d) and (e) below;

  

	 	(C)	 each copy of the documents specified in paragraph (ii) below is correct and complete and has not been
amended or superseded on or prior to the Closing Date, except to the extent such changes thereto have been required pursuant to the City Code or required by the Panel or are not prohibited by the Loan Documents; and 

 

	 	(D)	 the Takeover Offer has been declared unconditional in all respects without any material amendment,
modification or waiver of the conditions to the Takeover Offer or of the Acceptance Condition except to the extent not prohibited by the Loan Documents; and 

  

	 	(ii)	 a copy of the Takeover Offer Document which is consistent in all material respects with the terms and
conditions in the Offer Press Announcement, except to the extent changes thereto have been required pursuant to the City Code or required by the Panel or a court of competent jurisdiction or are permitted under the Loan Documents.

  

	 	(d)	 On the date of the applicable borrowing request and on the proposed date of such borrowing (x) no
Certain Funds Default is continuing or would result from the proposed Disbursement and (y) all the Certain Funds Representations are true or, if a Certain Funds Representation does not include a materiality concept, true in all material
respects. 

  
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	 	(e)	 JBIC shall have received a Request for Disbursement in accordance with the Disbursement Procedure.

  

	 	(f)	 JBIC shall have received a pro forma consolidated balance sheet and related pro forma consolidated statement
of income of the Borrower and its Subsidiaries as of and for the twelve-month period ending on the last day of the most recently completed four- fiscal quarter period ended at least 45 days prior to the Closing Date prepared after giving effect to
the Transactions as if the Transactions had occurred as of such date (in the case of such balance sheet) or at the beginning of such period (in the case of such statement of income) (the “Pro-Forma
Financials”), it being acknowledged that JBIC shall not have any approval right as regards the form or contents of the Pro-Forma Financials. 

 

	 	(g)	 It is not illegal for JBIC to lend and there is no injunction, restraining order or equivalent prohibiting
JBIC from lending the Loan or restricting the application of the proceeds thereof. 

  
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 Attachment 4
        Disbursement Procedure 
 Unless otherwise agreed in writing by the parties to this
Agreement, the Disbursement under this Agreement shall be made in accordance with the following procedures: 
  

	1.	 Request for Disbursement 

 

	1.1	 If the Borrower shall seek Disbursement in respect of the Target Acquisition, the Borrower shall, at least
three (3) Business Days prior to the intended date of Disbursement, submit to JBIC a duly completed Request for Disbursement as per the attached Form 1 signed by the Borrower and accompanied by a duly completed and signed Statement of
Expenditures as per the attached Form 2. 

  

	1.2	 The Request for Disbursement and the Statement of Expenditures shall be reviewed by JBIC as to its
compliance with the provisions of this Agreement. If the Request for Disbursement results in Certain Funds Default or a Certain Funds Representation remains incorrect or, if a Certain Funds Representation does not include a materiality concept,
incorrect in any material respect, JBIC may refuse to make the Disbursement. 

  

	1.3	 The Borrower shall submit to JBIC a revised Statement of Expenditures promptly after such expenditure
occurred. 

  

	2.	 Disbursement 

 

	2.1	 The Disbursement, not later than the third (3rd) Business Day following receipt by JBIC of the Request for
Disbursement, shall be made to the Borrower on the intended date of Disbursement in the Eligible Currency by means of a telegraphic transfer into the Borrower’s account in the name of the Borrower set forth in the Request for Disbursement (the
“Account”) in accordance with this Agreement including, without limitation, Clause 4 (Conditions Precedent and Disbursement) of this Agreement and this Attachment 4 (Disbursement Procedure), provided that, if the said
intended date of Disbursement is not a Business Day, the Disbursement shall be made on the immediately succeeding Business Day. 

  

	2.2	 The receipt of remittance by the Borrower denominated in the Eligible Currency into the Account shall be the
Disbursement of the Facility under this Agreement and shall, as from the date of such receipt, constitute a valid and binding obligation upon the Borrower in respect of repayment of the corresponding amount of the Loan and the payment of interest
and any other amount payable hereunder in relation thereto. 

  

	2.3	 The Borrower shall issue a notice of the receipt of remittance in form and substance reasonably satisfactory
to JBIC promptly after the receipt of remittance. 

  

	2.4	 No more than one (1) Disbursement shall be made hereunder. 

 

	3.	 General 

On the day on which the Disbursement shall be made, the amount of the Facility shall be reduced by the amount of the
Disbursement. Notwithstanding any provision of this Agreement to the contrary, JBIC shall not be required to make the Disbursement hereunder if, as a result thereof, the amount of the Facility would thereby be exceeded. 

  
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Table of Contents

 (Form 1) 

Request for Disbursement 

(JBIC Loan to Takeda) 
 Date:
                     
 Serial No.:
                     
 Japan
Bank for International Cooperation 
 4-1, Ohtemachi 1-chome,

 Chiyoda-ku, Tokyo 100-8144, Japan 

 

	Attn:	 Director General 

Industry Finance Group 

Corporate Finance Department 

Dear Sirs: 
 In
accordance with Section 1 (Request for Disbursement) of Attachment 4 to the loan agreement dated                     , (JBIC Loan
to Takeda) (the “Agreement”), we hereby request you to disburse the amount specified below. Terms used herein and not defined herein have the meanings given thereto in the Agreement. 

Date of Disbursement: 

Disbursement Amount in the Eligible Currency: 

Please make the Disbursement of the above-mentioned amount by means of a telegraphic transfer into the following account. 

Bank Name/Branch Name: 
 Address
of the Branch: 
 Account Name/Account Number: 

SWIFT: 
 We
enclose the Statement of Expenditures specifying the above-mentioned amount for your Disbursement and the Disbursement Plan. 

We hereby certify that, as at the date hereof, (x) no Certain Funds Default is continuing or would result from the
Disbursement requested herein and (y) all the Certain Funds Representations are true, or, if a Certain Funds Representation does not include a materiality construct, true in all material respects. 

 

	
	 Yours faithfully,

	 (name of the Borrower)

	
	 (name and title of signer)

  
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Table of Contents

 (Form 2) 

Date:             

Serial No.:             

Statement of Expenditures 
 (JBIC
Loan to Takeda) 
  

													
	 1
	 	2	 	3	 	4	 	5	 	6	 	7
	
Name of Payee
	 	 Category of Expenditure

 
	 	Brief Description of Payment	 	Date of Payment	 	Amount in Currency of Expenditure	 	Exchange Rate	 	Amount in the Eligible Currency
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

  

									
		 	
(A) Total
  
	  		 	
*
	 	
		 	
(B) Amount to be disbursed

 
  
  
	  		 	
*
	 	

  

			
	 Remarks:
	  	  

		
		  	(name of the Borrower)
	 * Please insert the amount denominated in the Eligible Currency.
	  	(authorized signature)

  
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 Attachment
5        Planned Amortization Schedule 
  

					
	Installment Number	  	Date Due	  	Amount in U.S.Dollars
	 1
	  	December 11th, 2025	  	US$ 3,700,000,000.00
	 Total
	  		  	US$ 3,700,000,000.00

  
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Table of Contents

 Attachment 6         Form of
Compliance Certificate 
 Japan Bank for International Cooperation 

4-1, Otemachi 1-chome,
Chiyoda-ku, 
 Tokyo 100-8144 

 

	Attention:	 Director General 

Industry Finance Group 

Corporate Finance Department 

Facsimile: +81-3-5218-3967 

[Date] 
 Ladies and Gentlemen:

 Reference is hereby made to the loan agreement dated as of
                         2018 (as the same day may be amended, restated, supplemented or otherwise modified from time to
time, the “Loan Agreement”), between Takeda Pharmaceutical Company Limited (the “Borrower”) and JBIC. Capitalized term used but not defined herein shall have the meanings assigned to such terms in the Loan
Agreement. 
 The undersigned is the [Chief Executive Officer / Chief Financial Officer / Treasurer] of the Borrower
(the “Authorized Officer”) and, as such, the undersigned is authorized to execute and deliver this Compliance Certificate to the JBIC on behalf of the Borrower in accordance with clause 11.8(a)(iii) of the Loan Agreement. The
Authorized Officer hereby certifies as follows, in his/ her capacity as an officer of the Borrower and not in his/ her individual capacity: 
  

	 	1.	 I have review the terms of the Loan Agreement and I have made, or caused to be made under my supervision, a
view in reasonable detail of the transactions and conditions of the Consolidated Group during the accounting period covered by the financial statements have been prepared in accordance with IFRS (subject to the absence of footnotes and year end
audit adjustments); and 

  

	 	2.	 The examinations described in paragraph 1 did not disclose[, except as set forth below], and I have no
knowledge of the existence of any condition or event which constitutes a Default or Event of Default during or at the end of accounting period covered by the attached financial statements or as of the date of this Compliance Certificate; and

  

	 	a.	 [Please specify in reasonable detail each condition or event which constitutes a Default or Event of
Default and any action taken or proposed to be taken with respect thereto]:and 

  

	 	3.	 The Borrower is in compliance with the each of the Financial Covenants as shown in the calculations attached
hereto as Annex II. 

  
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Table of Contents

 ANNEX I 

FINANCIAL STATEMENTS FOR PERIOD ENDING
[                ] 
 [To be attached unless the
Borrower is deemed to have delivered the financial statements pursuant to 
 Paragraph (b) of Clause 11.8 (Reporting
Requirements)] 

  
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 ANNEX II 

CALCULATION OF COMPLIANCE WITH FINANCIAL COVENANTS 

[To be attached] 

  
 57

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