Document:

EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 

VIRGIN MEDIA FINANCE PLC, as Issuer 

The Guarantors named herein 

$400,000,000 5  3⁄4% Senior Notes due 2025

 €460,000,000 4  1⁄2% Senior Notes due
2025 
 INDENTURE 
 Dated as
of January 28, 2015 
 THE BANK OF NEW YORK MELLON, LONDON BRANCH, as Trustee and Principal Paying Agent 

THE BANK OF NEW YORK MELLON, as Paying Agent, and Dollar Notes Transfer Agent and Registrar 

THE BANK OF NEW YORK MELLON (LUXEMBOURG) S.A., as Euro Notes Registrar and Transfer Agent 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	
	ARTICLE 1.	  
	DEFINITIONS AND INCORPORATION	  
	BY REFERENCE	  
			
	 Section 1.01
	 	 Definitions
	  	 	5	  
	 Section 1.02
	 	 Other Definitions
	  	 	48	  
	 Section 1.03
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	50	  
	 Section 1.04
	 	 Rules of Construction
	  	 	50	  
	
	ARTICLE 2.	  
	THE NOTES	  
			
	 Section 2.01
	 	 Form and Dating
	  	 	50	  
	 Section 2.02
	 	 Execution and Authentication
	  	 	52	  
	 Section 2.03
	 	 Registrar and Paying Agent
	  	 	53	  
	 Section 2.04
	 	 Holders to Be Treated as Owners; Payments of Interest
	  	 	54	  
	 Section 2.05
	 	 Paying Agent to Hold Money
	  	 	55	  
	 Section 2.06
	 	 Holder Lists
	  	 	55	  
	 Section 2.07
	 	 Transfer and Exchange
	  	 	55	  
	 Section 2.08
	 	 Replacement Notes
	  	 	64	  
	 Section 2.09
	 	 Outstanding Notes
	  	 	65	  
	 Section 2.10
	 	 Treasury Notes
	  	 	65	  
	 Section 2.11
	 	 Temporary Notes
	  	 	65	  
	 Section 2.12
	 	 Cancellation
	  	 	65	  
	 Section 2.13
	 	 Defaulted Interest
	  	 	66	  
	 Section 2.14
	 	 CUSIP, ISIN or Common Code Number
	  	 	66	  
	 Section 2.15
	 	 Deposit of Moneys
	  	 	66	  
	
	ARTICLE 3.	  
	REDEMPTION AND PREPAYMENT	  
			
	 Section 3.01
	 	 Notices to Trustee
	  	 	66	  
	 Section 3.02
	 	 Selection of Notes to Be Redeemed or Purchased
	  	 	67	  
	 Section 3.03
	 	 Notice of Redemption
	  	 	67	  
	 Section 3.04
	 	 Effect of Notice of Redemption
	  	 	68	  
	 Section 3.05
	 	 Deposit of Redemption or Purchase Price
	  	 	68	  
	 Section 3.06
	 	 Notes Redeemed or Repurchased in Part
	  	 	69	  
	 Section 3.07
	 	 Optional Redemption
	  	 	69	  
	 Section 3.08
	 	 Special Optional Redemption
	  	 	71	  
	 Section 3.09
	 	 [Reserved]
	  	 	71	  
	 Section 3.10
	 	 Mandatory Redemption
	  	 	71	  
	 Section 3.11
	 	 Redemption for Taxation Reasons
	  	 	71	  
	 Section 3.12
	 	 Offer to Purchase by Application of Excess Proceeds
	  	 	72	  
	
	ARTICLE 4.	  
	COVENANTS	  
			
	 Section 4.01
	 	 Payment of Notes
	  	 	75	  
	 Section 4.02
	 	 The Maintenance of Office or Agency
	  	 	76	  
	 Section 4.03
	 	 Reports
	  	 	76	  
	 Section 4.04
	 	 Compliance Certificate
	  	 	77	  
	 Section 4.05
	 	 Taxes
	  	 	78	  
	 Section 4.06
	 	 Stay, Extension and Usury Laws
	  	 	78	  
	 Section 4.07
	 	 Limitation on Restricted Payments
	  	 	78	  

  
 i 

							
	 Section 4.08
	 	 Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	 	85	  
	 Section 4.09
	 	 Limitation on Indebtedness
	  	 	88	  
	 Section 4.10
	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	 	92	  
	 Section 4.11
	 	 Limitation on Affiliate Transactions
	  	 	94	  
	 Section 4.12
	 	 Limitation on Liens
	  	 	97	  
	 Section 4.13
	 	 Corporate Existence
	  	 	98	  
	 Section 4.14
	 	 Change of Control
	  	 	98	  
	 Section 4.15
	 	 Limitation on Issuances of Guarantees of Indebtedness by Restricted Subsidiaries
	  	 	100	  
	 Section 4.16
	 	 Payments for Consents
	  	 	101	  
	 Section 4.17
	 	 Limitation on Layering
	  	 	101	  
	 Section 4.18
	 	 Additional Amounts
	  	 	101	  
	 Section 4.19
	 	 Suspension of Covenants on Achievement of Investment Grade Status
	  	 	104	  
	 Section 4.20
	 	 Further Instruments and Acts
	  	 	104	  
	 Section 4.21
	 	 Listing
	  	 	105	  
	 Section 4.22
	 	 [Reserved]
	  	 	105	  
	 Section 4.23
	 	 Intercreditor Deed
	  	 	105	  
	
	ARTICLE 5.	  
	SUCCESSORS	  
			
	 Section 5.01
	 	 Merger and Consolidation
	  	 	106	  
	 Section 5.02
	 	 Successor Corporation Substituted
	  	 	108	  
	
	ARTICLE 6.	  
	DEFAULTS AND REMEDIES	  
			
	 Section 6.01
	 	 Events of Default
	  	 	109	  
	 Section 6.02
	 	 Acceleration
	  	 	110	  
	 Section 6.03
	 	 Other Remedies
	  	 	111	  
	 Section 6.04
	 	 Waiver of Past Defaults
	  	 	111	  
	 Section 6.05
	 	 Control by Majority
	  	 	111	  
	 Section 6.06
	 	 Limitation on Suits
	  	 	112	  
	 Section 6.07
	 	 Rights of Holders of Notes to Receive Payment
	  	 	112	  
	 Section 6.08
	 	 Collection Suit by Trustee
	  	 	112	  
	 Section 6.09
	 	 Trustee May File Proofs of Claim
	  	 	112	  
	 Section 6.10
	 	 Priorities
	  	 	113	  
	 Section 6.11
	 	 Undertaking for Costs
	  	 	113	  
	
	ARTICLE 7.	  
	TRUSTEE	  
			
	 Section 7.01
	 	 Duties of Trustee
	  	 	113	  
	 Section 7.02
	 	 Rights of Trustee
	  	 	114	  
	 Section 7.03
	 	 Individual Rights of Trustee
	  	 	117	  
	 Section 7.04
	 	 Trustee’s Disclaimer
	  	 	117	  
	 Section 7.05
	 	 Notice of Defaults
	  	 	117	  
	 Section 7.06
	 	 Reports by Trustee to Holders of the Notes
	  	 	117	  
	 Section 7.07
	 	 Compensation and Indemnity
	  	 	117	  
	 Section 7.08
	 	 Replacement of Trustee
	  	 	118	  
	 Section 7.09
	 	 Successor Trustee by Merger, etc.
	  	 	119	  
	 Section 7.10
	 	 Eligibility; Disqualification
	  	 	119	  
	 Section 7.11
	 	 Preferential Collection of Claims Against Issuer
	  	 	120	  
	
	ARTICLE 8.	  
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE SECTION	  
			
	 Section 8.01
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	120	  
	 Section 8.02
	 	 Legal Defeasance and Discharge
	  	 	120	  

  
 ii 

							
	 Section 8.03
		 Covenant Defeasance
		 	121	  
	 Section 8.04
		 Conditions to Legal or Covenant Defeasance
		 	121	  
	 Section 8.05
		 Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions
		 	122	  
	 Section 8.06
		 Repayment to Issuer
		 	123	  
	 Section 8.07
		 Reinstatement
		 	123	  
	
	ARTICLE 9.	  
	AMENDMENT, SUPPLEMENT AND WAIVER	  
			
	 Section 9.01
		 Without Consent of Holders of Notes
		 	123	  
	 Section 9.02
		 With Consent of Holders of Notes
		 	125	  
	 Section 9.03
		 Revocation and Effect of Consents
		 	126	  
	 Section 9.04
		 Notation on or Exchange of Notes
		 	127	  
	 Section 9.05
		 Trustee to Sign Amendments, etc.
		 	127	  
	
	ARTICLE 10.	  
	NOTE GUARANTEES	  
			
	 Section 10.01
		 Guarantee
		 	127	  
	 Section 10.02
		 Limitation on Guarantor Liability
		 	128	  
	 Section 10.03
		 [Reserved]
		 	129	  
	 Section 10.04
		 Execution and Delivery of Note Guarantee
		 	129	  
	 Section 10.05
		 Releases
		 	129	  
	
	ARTICLE 11.	  
			
	 [RESERVED]
				 	132	  
	
	ARTICLE 12.	  
	SATISFACTION AND DISCHARGE	  
			
	 Section 12.01
		 Satisfaction and Discharge
		 	132	  
	 Section 12.02
		 Application of Trust Money
		 	133	  
	
	ARTICLE 13.	  
		
	 SUBORDINATION OF SUBSIDIARY GUARANTEES
		 	133	  
	
	ARTICLE 14.	  
	MISCELLANEOUS	  
			
	 Section 14.01
		 Notices
		 	133	  
	 Section 14.02
		 Communication by Holders of Notes with Other Holders of Notes
		 	135	  
	 Section 14.03
		 Certificate and Opinion as to Conditions Precedent
		 	135	  
	 Section 14.04
		 Statements Required in Certificate or Opinion
		 	135	  
	 Section 14.05
		 Rules by Trustee and Agents
		 	135	  
	 Section 14.06
		 No Personal Liability of Directors, Officers, Employees and Stockholders
		 	135	  
	 Section 14.07
		 Currency Indemnity
		 	136	  
	 Section 14.08
		 Governing Law
		 	136	  
	 Section 14.09
		 Submission to Jurisdiction; Appointment of Agent for Service
		 	136	  
	 Section 14.10
		 No Adverse Interpretation of Other Agreements
		 	137	  
	 Section 14.11
		 Successors
		 	137	  
	 Section 14.12
		 Severability
		 	137	  
	 Section 14.13
		 Counterpart Originals
		 	137	  
	 Section 14.14
		 Table of Contents, Headings, etc.
		 	137	  
	 Section 14.15
		 Prescription
		 	138	  
	 Section 14.16
		 USA Patriot Act
		 	138	  

  
 iii 

 EXHIBITS 

(ATTACHED SEPARATELY HERETO) 
  

			
	Exhibit A	  	FORM OF GLOBAL NOTE
	Exhibit B	  	FORM OF DEFINITIVE REGISTERED NOTE
	Exhibit C	  	FORM OF CERTIFICATE OF TRANSFER
	Exhibit D	  	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit E	  	FORM OF SUPPLEMENTAL INDENTURE
	Exhibit F	  	FORM OF NOTATION OF GUARANTEE

  
 iv 

 INDENTURE dated as of January 28, 2015 among Virgin Media Finance PLC (the
“Issuer”), a public limited company incorporated under the laws of England and Wales, having its registered office at Media House, Bartley Wood Business Park, Bartley Way, Hook, Hampshire, RG27 9UP, United Kingdom, the Guarantors
named herein, The Bank of New York Mellon, London Branch, not in its individual capacity but solely as trustee and principal paying agent, The Bank of New York Mellon, as paying agent, registrar and transfer agent for the Dollar Notes, and The Bank
of New York Mellon (Luxembourg) S.A., as registrar and transfer agent for the Euro Notes. 
 The Issuer and the Trustee agree as follows for
the benefit of each other and for the equal and rateable benefit of the Holders (as defined herein) of the $400,000,000 5 3⁄4% Senior Notes due 2025 (the
“Dollar Notes”) and the €460,000,000 4 1⁄2% Senior Notes due 2025 (the “Euro Notes” and, together with the Dollar Notes,
the “Notes”): 
 ARTICLE 1. 

DEFINITIONS AND INCORPORATION 
 BY
REFERENCE 
 Section 1.01 Definitions 

“144A Global Note” means the Dollar 144A Global Note and the Euro 144A Global Note. 

“2006 Indenture” means the indenture dated as of July 25, 2006 between the Issuer, NTL Incorporated, NTL:Telewest LLC,
NTL Holdings Inc., NTL (UK) Group, Inc., NTL Communications Limited, NTL Investment Holdings Limited, The Bank of New York, as trustee and paying agent and The Bank of New York (Luxembourg) S.A. as Luxembourg paying agent. 

“Acquired Indebtedness” means Indebtedness (1) of a Person or any of its Subsidiaries existing at the time such Person
becomes a Restricted Subsidiary or (2) assumed in connection with the acquisition of assets from such Person, in each case whether or not Incurred by such Person in connection with, or in anticipation or contemplation of, such Person becoming a
Restricted Subsidiary or such acquisition. Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (1) of the preceding sentence, on the date such Person becomes a Restricted Subsidiary and, with respect to clause
(2) of the preceding sentence, on the date of consummation of such acquisition of assets. 
 “Additional Assets”
means: 
  

	 	(1)	any property or assets (other than Indebtedness and Capital Stock) to be used by the Issuer or a Restricted Subsidiary in a Related Business or are otherwise useful in a Related Business (it being understood that
capital expenditure on property or assets already used in a Related Business or to replace any property or assets that are the subject of such Asset Disposition or any operating expenses Incurred in the day-to-day operations of a Related Business
shall be deemed an Investment in Additional Assets); 

  

	 	(2)	the Capital Stock of a Person that is engaged in a Related Business and becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Issuer or a Restricted Subsidiary; or

  

	 	(3)	Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary. 

  
 5 

 “Additional Guarantor” means any Restricted Subsidiary other than a Subsidiary
Guarantor that executes a supplemental indenture in the form set forth in Exhibit E hereto, and its respective successors and assigns, in each case, until the Note Guarantee of such Person has been released in accordance with the provisions
of this Indenture. 
 “Additional Notes” means additional Notes (other than the Initial Notes) issued under this Indenture
in accordance with Sections 2.01(f), 2.02 and 4.09, as part of the same series as the Initial Notes. 
 “Additional Parent
Guarantor” means any Parent other than a Parent Guarantor on the date of this Indenture that executes and delivers to the Trustee a supplemental Indenture in the form set forth in Exhibit E hereto, and its respective successors and
assigns, in each case, until the Note Guarantee of such Parent has been released in accordance with the provisions of this Indenture. 

“Additional Subsidiary Guarantee” means the Note Guarantee provided by an Additional Subsidiary Guarantor. 

“Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or under
direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Affiliate Subsidiaries” means (1) ntl Kirklees, a private unlimited company incorporated under the laws of England and
Wales; and (2) ntl Glasgow, a private unlimited company incorporated under the laws of Scotland. 
 “Agent” means any
Registrar, co-registrar, Paying Agent or additional paying agent. 
 “Applicable Premium” means, in the case of the Euro
Notes, the Euro Applicable Premium and, in the case of the Dollar Notes, the Dollar Applicable Premium. 
 “Applicable
Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary that apply to such transfer or exchange. 

“Asset Disposition” means any direct or indirect sale, lease (other than an operating lease entered into in the ordinary
course of business), transfer, issuance or other disposition, or a series of related sales, leases (other than an operating lease entered into in the ordinary course of business), transfers, issuances or dispositions that are part of a common plan,
of shares of Capital Stock of a Subsidiary (other than directors’ qualifying shares), property or other assets (each referred to for the purposes of this definition as a “disposition”) by the Issuer or any of the Restricted
Subsidiaries, including any disposition by means of a merger, consolidation or similar transaction. 
 Notwithstanding the preceding, the
following items shall not be deemed to be Asset Dispositions: 
  

	 	(1)	a disposition by a Restricted Subsidiary to the Issuer or by the Issuer or a Restricted Subsidiary (other than a Receivables Entity) to a Restricted Subsidiary; 

 

	 	(2)	the sale or disposition of cash or of Cash Equivalents or Investment Grade Securities in the ordinary course of business; 

  
 6 

	 	(3)	a disposition of inventory, consumer equipment, trading stock, communications capacity or other assets in the ordinary course of business; 

 

	 	(4)	a sale, lease, transfer or other disposition, or a series of related sales, leases, transfers, issuances or dispositions that are part of a common plan, of obsolete, surplus or worn out equipment or other equipment and
assets that are no longer useful in the conduct of the business of the Issuer and the Restricted Subsidiaries; 

  

	 	(5)	transactions permitted under Section 5.01 or a transaction that constitutes a Change of Control; 

  

	 	(6)	an issuance of Capital Stock by a Restricted Subsidiary to the Issuer or to another Restricted Subsidiary; 

  

	 	(7)	for purposes of Section 4.10 only, the making of a Permitted Investment or a disposition subject to Section 4.07, or solely for the purpose of Section 4.10(a)(3), a disposition, the proceeds of which are
used to make Restricted Payments permitted to be made under Section 4.07 or Permitted Investments; 

  

	 	(8)	dispositions of assets in a single transaction or series of related transactions with an aggregate fair market value in any calendar year of less than the greater of £10.0 million and 1.0% of Total Assets
(with unused amounts in any calendar year being carried over to the next succeeding year subject to a maximum of the greater of £10.0 million and 1.0% of Total Assets of carried over amounts for any calendar year); 

 

	 	(9)	dispositions in connection with Permitted Liens; 

  

	 	(10)	dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar
arrangements; 

  

	 	(11)	the licensing or sublicensing of intellectual property or other general intangibles and licenses, sublicenses, leases or subleases of other property; 

 

	 	(12)	foreclosure, condemnation or similar action with respect to any property or other assets; 

  

	 	(13)	the sale or discount (with or without recourse, and on customary or commercially reasonable terms) of accounts receivable or notes receivable arising in the ordinary course of business, or the conversion or exchange of
accounts receivable for notes receivable; 

  

	 	(14)	sales of accounts receivable and related assets or an interest therein of the type specified in the definition of “Qualified Receivables Transaction” to a Receivables Entity; 

 

	 	(15)	any disposition of Capital Stock, Indebtedness or other securities of an Unrestricted Subsidiary; 

  

	 	(16)	 any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a Person (other than the Issuer or
a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such acquisition and
in each case comprising all or a portion of the consideration in respect of such sale or acquisition; 

  
 7 

	 	(17)	any surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; 

  

	 	(18)	(A) disposals of assets, rights or revenue not constituting part of the Distribution Business of the Issuer and the Restricted Subsidiaries, and (B) other disposals of non-core assets acquired in connection with
any acquisition permitted under this Indenture; 

  

	 	(19)	disposals of assets or Capital Stock which the Issuer or any Restricted Subsidiary is required by a regulatory authority or court of competent jurisdiction to dispose of; 

 

	 	(20)	disposals of other interests in other entities in an amount not to exceed £10.0 million; 

  

	 	(21)	any disposition of real property, provided that the fair market value of the real property disposed of in any calendar year does not exceed the greater of £50.0 million and 1.0% of Total Assets;

  

	 	(22)	any disposition of assets to a Person who is providing services related to such assets, the provision of which have been or are to be outsourced by the Issuer or any Restricted Subsidiary to such Person; and

  

	 	(23)	any other disposal of assets comprising in aggregate percentage value of 10% or less of Total Assets. 

In the event that a transaction (or any portion thereof) meets the criteria of a disposition permitted under clauses (1) through
(23) above and would also be a Restricted Payment permitted to be made under Section 4.07 or a Permitted Investment, the Issuer, in its sole discretion, will be entitled to divide and classify such transaction (or a portion thereof) as a
disposition permitted under clauses (1) through (23) above and/or one or more of the types of Restricted Payments permitted to be made under Section 4.07 or Permitted Investments. 

“Authenticating Agent” means each Person authorized pursuant to Section 2.02 to authenticate Notes and any Person
authorized pursuant to Section 2.02 to act on behalf of the Trustee to authenticate Notes. 
 “Authorized Person”
means any person who is designated in writing by the Issuer from time to time to give Instructions to the Agents under the terms of this Indenture. 

“The Bank of New York Mellon Group” means the group comprising The Bank of New York Mellon and its affiliates. 

“Bankruptcy Law” means Title 11, United States Bankruptcy Code of 1978, or any similar United States federal or state law or
relevant law in any jurisdiction or organization or similar foreign law (including, without limitation, laws of England and Wales and Scotland relating to moratorium, bankruptcy, insolvency, receivership, winding up, liquidation, reorganization or
relief of debtors) or any amendment to, succession to or change in any such law. 
 “beneficial owner” has the meaning
assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any 

  
 8 

 
particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such
“person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the passage of time. The terms “beneficially owns” and “beneficially
owned” have a corresponding meaning. 
 “Board of Directors” means, as to any Person, the board of directors of such
Person or any duly authorized committee thereof; provided, any action required to be taken under this Indenture by the Board of Directors of the Issuer can, in the alternative, at the option of the Issuer, be taken by the Board of Directors
of the Ultimate Parent. 
 “Book-Entry Interest” means a beneficial interest in a Global Note held by or through a
Participant. 
 “Bund Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual
equivalent yield to maturity as of such date of the Comparable German Bund Issue, assuming a price for the Comparable German Bund Issue (expressed as a percentage of its principal amount) equal to the Comparable German Bund Price for such redemption
date, where: 
  

	 	(1)	“Comparable German Bund Issue” means the German Bundesanleihe security selected by any Reference German Bund Dealer as having a fixed maturity most nearly equal to the period from such Redemption
Date to January 15, 2020 and that would be utilized at the time of selection and in accordance with customary financial practice, in pricing new issues of euro-denominated corporate debt securities in a principal amount approximately equal to
the then outstanding principal amount of the Notes and of a maturity most nearly equal to January 15, 2020; provided, however, that, if the period from such Redemption Date to January 15, 2020 is not equal to the fixed maturity of
the German Bundesanleihe security selected by such Reference German Bund Dealer, the Bund Rate shall be determined by linear interpolation (calculated to the nearest one-twelfth of a year) from the yields of German Bundesanleihe
securities for which such yields are given, except that if the period from such Redemption Date to January 15, 2020, is less than one year, a fixed maturity of one year shall be used; 

 

	 	(2)	“Comparable German Bund Price” means, with respect to any Redemption Date, the average of all Reference German Bund Dealer Quotations for such date (which, in any event, must include at least two such
quotations), after excluding the highest and lowest such Reference German Bund Dealer Quotations, or if the Issuer obtains fewer than four such Reference German Bund Dealer Quotations, the average of all such quotations; 

 

	 	(3)	“Reference German Bund Dealer” means any dealer of German Bundesanleihe securities appointed by the Issuer in good faith; and 

 

	 	(4)	“Reference German Bund Dealer Quotations” means, with respect to each Reference German Bund Dealer and any Redemption Date, the average as determined by the Issuer in good faith of the bid and offered
prices for the Comparable German Bund Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such Reference German Bund Dealer at 3.30 p.m. Frankfurt am Main, Germany, time on a day no earlier
than the third Business Day preceding the date of the delivery of the redemption notice in respect of such Redemption Date. 

  
 9 

 “Business Day” means each day that is not a Saturday, Sunday or other day on
which banking institutions in Amsterdam, The Netherlands, New York, New York or London, England are authorized or required by law to close. 

“Business Division Transaction” means any creation or participation in any joint venture with respect to any assets,
undertakings and/or businesses of the Issuer and the Restricted Subsidiaries which comprise all or part of the Virgin Media Business division (or its predecessor or successors), to or with any other entity or person whether or not the Issuer or any
of the Restricted Subsidiaries, excluding the contribution to (but not the use by) any joint venture of the backbone assets utilized by the Issuer and the Restricted Subsidiaries and excluding any Subsidiary included in or owned by the Virgin Media
Business division but not engaged in the business of that division. 
 “Capital Stock” of any Person means any and all
shares, interests, rights to purchase, warrants, options, participation or other equivalents of interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity.

 “Capitalized Lease Obligation” means an obligation that is required to be classified and accounted for as a capitalized
lease for financial reporting purposes in accordance with GAAP. The amount of Indebtedness represented by such obligation will be the capitalized amount of such obligation at the time any determination thereof is to be made as determined in
accordance with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated without penalty, provided that, upon a change in
generally accepted accounting principles eliminating the difference in treatment of operating leases and capital leases, “capital lease” shall be deemed to be a leasing arrangement where the net present value of the payments (using an
interest rate determined with reference to yield to maturity in the trading markets for the issue at the date of the lease of the Issuer’s unsecured senior notes with the longest maturity date at the date of the lease) exceeds 90% of the fair
value of the asset. 
 “Cash Equivalents” means: 
  

	 	(1)	securities issued or directly and fully guaranteed or insured by the United States Government or a member state of the European Union as of January 1, 2004 (each, a “Qualified Country”) or any
agency or instrumentality thereof (provided that the full faith and credit of such Qualified Country is pledged in support thereof), having maturities of not more than one year from the date of acquisition; 

 

	 	(2)	marketable general obligations issued by any political subdivision of any Qualified Country or any public instrumentality thereof maturing within one year from the date of acquisition of the United States
(provided that the full faith and credit of the Qualified Country is pledged in support thereof) and, at the time of acquisition, having a credit rating of “A2” or better from either Standard & Poor’s Ratings Services
or Moody’s Investors Service, Inc.; 

  

	 	(3)	certificates of deposit, time deposits, eurodollar time deposits, bank deposits or bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any lender party to
any Credit Facility or by any bank or trust company the long-term debt of which is rated at the time of acquisition thereof at least “A-” or the equivalent thereof by Standard & Poor’s Ratings Services, or “A-” or
the equivalent thereof by Moody’s Investors Service, Inc. (or if at the time neither is issuing comparable ratings, then a comparable rating of another nationally recognized rating agency); 

  
 10 

	 	(4)	repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (1), (2) and (3) entered into with any bank meeting the qualifications specified in
clause (3) above; 

  

	 	(5)	commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent thereof by Standard & Poor’s Ratings Services or “P-2” or the equivalent thereof by
Moody’s Investors Service, Inc., or carrying an equivalent rating by an internationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of investments, and in any case maturing within one year after
the date of acquisition thereof; and 

  

	 	(6)	interests in any investment company or money market fund which invests 95% or more of its assets in instruments of the type specified in clauses (1) through (5) above. 

“Change of Control” means: 
  

	 	(1)	Virgin Media Communications (A) ceases to be the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the
Voting Stock of the Issuer and (B) ceases, by virtue of any powers conferred by the articles of association or other documents regulating the Issuer to, directly or indirectly, direct or cause the direction of management and policies of the
Issuer; 

  

	 	(2)	the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Issuer and the
Restricted Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) other than a Permitted Holder; or 

 

	 	(3)	the adoption by the stockholders of the Issuer of a plan or proposal for the liquidation or dissolution of the Issuer, other than a transaction complying with Section 5.01; 

provided that a Change of Control shall not be deemed to have occurred pursuant to clause (1) of this definition upon the
consummation of the Post-Closing Reorganization or a Spin-Off. Notwithstanding the foregoing, upon consummation of the Post-Closing Reorganization or a Spin-Off, “Virgin Media Communications” in clause (1) will be replaced with New
Immediate Holdco, in respect of the Post-Closing Reorganization, and the Spin Parent, in respect of a Spin-Off. 

“Clearstream” means Clearstream Banking, S.A., or any successor thereto. 

“Code” means the United States Internal Revenue Code of 1986, as amended. 

“Commodity Agreement” means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract,
commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary. 

“Common Depositary” means The Bank of New York Mellon Depository (Nominees) Limited, as Common Depositary until a successor
replaces it and thereafter means the successor serving hereunder. 

  
 11 

 “Common Stock” means, with respect to any Person, any and all shares, interests
or other participations in, and other equivalents (however designated and whether voting or nonvoting) of such Person’s common stock whether or not outstanding on the Issue Date, and includes, without limitation, all series and classes of such
common stock. 
 “Consolidated EBITDA” means, for any period, without duplication, the Consolidated Net Income for such
period, plus the following to the extent deducted in calculating such Consolidated Net Income: 
  

	 	(1)	Consolidated Interest Expense; 

  

	 	(2)	Consolidated Income Taxes; 

  

	 	(3)	consolidated depreciation expense; 

  

	 	(4)	consolidated amortization expense; 

  

	 	(5)	any reasonable expenses, charges or other costs related to any Equity Offering, Permitted Investment, acquisition, disposition, recapitalization or the Incurrence of any Indebtedness permitted by this Indenture, in each
case, as determined in good faith by an Officer of the Issuer; 

  

	 	(6)	the amount of Management Fees and other fees and related expenses paid in such period to the Permitted Holders to the extent permitted by Section 4.11; 

 

	 	(7)	at the Issuer’s option, other non-cash charges reducing Consolidated Net Income (provided that if any such non-cash charge represents an accrual of or reserve for potential cash charges in any future period, the
cash payment in respect thereof in such future period shall reduce Consolidated Net Income to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period) less other non-cash items of income increasing Consolidated
Net Income (excluding any such non-cash item of income to the extent it represents (A) a receipt of cash payments in any future period, (B) the reversal of an accrual or reserve for a potential cash item that reduced Consolidated Net
Income in any prior period and (C) any non-cash gains with respect to cash actually received in a prior period so long as such cash did not increase Consolidated Net Income in such prior period); 

 

	 	(8)	the amount of loss on sale of assets in connection with a Qualified Receivables Transaction; 

  

	 	(9)	Specified Legal Expenses; 

  

	 	(10)	any net earnings or losses attributable to non-controlling interests; 

  

	 	(11)	share of income or loss on equity Investments; 

  

	 	(12)	any realized and unrealized gains or losses due to changes in fair value of equity Investments; 

  

	 	(13)	 at the Issuer’s option, an amount equal to 100.0% of the up-front installation fees associated with commercial contract installations completed
during the applicable reporting period, less any portion of such fees included in Consolidated Net Income for such period, provided that the amount of such fees, to the extent amortized over the life of the underlying service contract, shall not be
included in Consolidated Net Income in any future period; and 

  
 12 

	 	(14)	at the Issuer’s option, any fees or other amounts charged or credited to the Issuer and the Restricted Subsidiaries related to Intra-Group Services may be excluded from the calculation of Consolidated EBITDA to the
extent such fees or other amounts (A) are not included in the Issuer’s externally reported operating cash flow or equivalent measure (as defined by the Issuer in its earnings releases and other publicly disseminated information) or
(B) are deemed to be exceptional or unusual items. 

 “Consolidated Income Taxes” means taxes based on
income, profits or capital of any of the Issuer and the Restricted Subsidiaries whether or not paid, estimated, accrued or required to be remitted to any governmental authority taken into account in calculating Consolidated Net Income. 

“Consolidated Interest Expense” means, for any period the consolidated net interest income/expense of the Issuer and the
Restricted Subsidiaries (in each case, determined on the basis of GAAP), whether paid or accrued, including any such interest and charges consisting of: 
  

	 	(1)	interest expense attributable to Capitalized Lease Obligations; 

  

	 	(2)	amortization of debt discount and debt issuance cost; 

  

	 	(3)	non-cash interest expense; 

  

	 	(4)	commissions, discounts and other fees and charges owed with respect to financings not included in clause (2) above; 

  

	 	(5)	costs associated with Hedging Obligations; 

  

	 	(6)	dividends on other distributions in respect of all Disqualified Stock of the Issuer and all Preferred Stock of any Restricted Subsidiary, to the extent held by Persons other than the Issuer or a Subsidiary of the
Issuer; 

  

	 	(7)	the consolidated interest expense that was capitalized during such period; and 

  

	 	(8)	interest actually paid by the Issuer or any Restricted Subsidiary, under any guarantee of Indebtedness or other obligation of any other Person. 

“Consolidated Net Income” means, for any period, net income (loss) of the Issuer and the Restricted Subsidiaries determined
on a consolidated basis on the basis of GAAP; provided, however, that there will not be included in such Consolidated Net Income: 
  

	 	(1)	 subject to the limitations contained in clause (3) below, any net income (loss) of any Person (other than the Issuer) if such Person is not a
Restricted Subsidiary, except that (A) the Issuer’s equity in the net income of any such Person for such period will be included in such Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents actually distributed by
such Person during such period to the Issuer or a Restricted Subsidiary as a dividend or other distribution or return on investment (subject, in the case of a dividend or other distribution or return on investment to a Restricted Subsidiary, to the
limitations contained in clause (2) below) and (B) the Issuer’s equity in a net loss of any such Person (other than an Unrestricted 

  
 13 

	 	
Subsidiary) for such period will be included in determining such Consolidated Net Income to the extent such loss has been funded with cash from the Issuer or a Restricted Subsidiary;

  

	 	(2)	solely for the purpose of determining the amount available for Restricted Payments under Section 4.07(a)(4)(C)(i), any net income (loss) of any Restricted Subsidiary if such Subsidiary is subject to restrictions,
directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the Issuer by operation of the terms of such Restricted Subsidiary’s charter or any agreement,
instrument, judgment, decree, order, statute or governmental rule or regulation applicable to such Restricted Subsidiary or its shareholders (other than (A) restrictions that have been waived or otherwise released, (B) restrictions
pursuant to the Notes or this Indenture, (C) restrictions in effect on the Issue Date with respect to a Restricted Subsidiary (including pursuant to the Notes, the Senior Credit Facility, the Existing Senior Secured Notes, the Senior Secured
Notes, the Intercreditor Deed or the Existing Senior Notes) and other restrictions with respect to any Restricted Subsidiary that, taken as a whole, are not materially less favorable to the Holders than restrictions in effect on the Issue Date and
(D) restrictions as in effect on the Issue Date specified in Section 4.08(b)(8), or restrictions specified in Section 4.08(b)(10)), except that the Issuer’s equity in the net income of any such Restricted Subsidiary for such
period will be included in such Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents actually distributed or that could have been distributed by such Restricted Subsidiary during such period to the Issuer or another
Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend to another Restricted Subsidiary, to the limitation contained in this clause); 

 

	 	(3)	any net gain (or loss) realized upon the sale, held for sale or other disposition of any asset or disposed operations of the Issuer or any Restricted Subsidiary which is not sold or otherwise disposed of in the ordinary
course of business (as determined in good faith by the Board of Directors or senior management of the Issuer); 

  

	 	(4)	any extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense or charge, including any charges or reserves in respect of any restructuring, redundancy, relocation, refinancing, integration or
severance or other post-employment arrangements, signing, retention or completion bonuses, transaction costs, acquisition costs, disposition costs, business optimization, information technology implementation or development costs, costs related to
governmental investigations and curtailments or modifications to pension or postretirement benefits schemes, litigation or any asset impairment charges or the financial impacts of natural disasters (including fire, flood and storm and related
events); 

  

	 	(5)	the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies; 

 

	 	(6)	any stock-based compensation expense; 

  

	 	(7)	all deferred financing costs written off and premiums paid in connection with any early extinguishment of Indebtedness and any net gain (loss), including financing costs that are expensed as incurred, from any
extinguishment, modification, exchange or forgiveness of Indebtedness; 

  
 14 

	 	(8)	any unrealized gains or losses in respect of Hedging Obligations; 

  

	 	(9)	any goodwill, other intangible or tangible asset impairment charge or write-off; 

  

	 	(10)	the impact of capitalized interest on Subordinated Shareholder Loans; 

  

	 	(11)	any derivative instruments gains or losses, foreign exchange gains or losses, and gains or losses associated with fair value adjustment on financial instruments; 

 

	 	(12)	at the Issuer’s option, effects of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries) pursuant to GAAP (including inventory, property, equipment,
software, goodwill, intangible assets, in process research and development, deferred revenue and debt line items) attributable to the application of recapitalization accounting or purchase accounting, as the case may be, in relation to any
consummated acquisition or joint venture investment or the amortization or write-off or write-down of amounts thereof, net of taxes; 

  

	 	(13)	accruals and reserves that are established or adjusted within twelve months after the closing date of any acquisition that are so required to be established or adjusted as a result of such acquisition in accordance with
GAAP; and 

  

	 	(14)	any expenses, charges or losses to the extent covered by insurance or indemnity and actually reimbursed, or, so long as the Issuer or a Restricted Subsidiary has made a determination that there exists reasonable
evidence that such amount will in fact be reimbursed by the insurer or indemnifying party and only to the extent that such amount is in fact reimbursed within 365 days of the date of the insurable or indemnifiable event (net of any amount so added
back in any prior period to the extent not so reimbursed within the applicable 365-day period). 

 In addition, to the extent
not already included in the Consolidated Net Income, notwithstanding anything to the contrary in the foregoing, Consolidated Net Income shall include the amount of proceeds received from business interruption insurance and reimbursements of any
expenses and charges that are covered by indemnification or other reimbursement provisions in connection with any acquisition or Investment, or any sale, conveyance, transfer or other disposition of assets permitted under this Indenture. 

“Consolidated Net Leverage Ratio,” as of any date of determination, means the ratio of: 

 

	 	(1)	(A) the outstanding Indebtedness (other than (i) any Indebtedness up to a maximum amount equal to the Revolving Facility Excluded Amount at the relevant time Incurred under any Permitted Revolving Credit Facility,
(ii) Subordinated Shareholder Loans, (iii) any Indebtedness incurred pursuant to Section 4.09(b)(19); (iv) any Indebtedness which is a contingent obligation of the Issuer or a Restricted Subsidiary and (v) for the purpose of
calculating the Consolidated Net Leverage Ratio for purposes of Section 4.09(a)(1)(A), outstanding Indebtedness of the Issuer) of the Issuer and the Restricted Subsidiaries on a Consolidated basis less (B) the aggregate amount of cash and
Cash Equivalents of the Issuer and the Restricted Subsidiaries on a Consolidated basis, to 

  

	 	(2)	the Pro forma EBITDA for the period of the most recent two consecutive fiscal quarters for which financial statements have previously been furnished to holders of the Notes pursuant to Section 4.03 multiplied by
2.0, 

  
 15 

 provided, however, that the pro forma calculation of the Consolidated Net Leverage Ratio
shall not give effect to (A) any Indebtedness Incurred on the date of determination pursuant to Section 4.09(b) or (B) the discharge on the date of determination of any Indebtedness to the extent that such discharge results from the
proceeds Incurred pursuant to Section 4.09(b). 
 For the avoidance of doubt, in determining the Consolidated Net Leverage Ratio, no
cash or Cash Equivalents shall be included that are the proceeds of Indebtedness in respect of which the calculation of the Consolidated Net Leverage Ratio is to be made. 

“Consolidation” means the consolidation or combination of the accounts of each of the Restricted Subsidiaries (excluding the
Affiliate Subsidiaries) with those of the Issuer in accordance with GAAP consistently applied and together with the accounts of the Affiliate Subsidiaries on a combined basis (including eliminations of intercompany transactions and balances, as
appropriate); provided, however, that “Consolidation” will not include consolidation of the accounts of any Unrestricted Subsidiary, but the interest of the Issuer or any Restricted Subsidiary in an Unrestricted Subsidiary will be
accounted for as an investment. The term “Consolidated” has a correlative meaning. 
 “Content” means any rights
to broadcast, transmit, distribute or otherwise make available for viewing, exhibition or reception (whether in analogue or digital format and whether as a channel or an internet service, a teletext-type service, an interactive service, or an
enhanced television service or any part of any of the foregoing, or on a pay-per-view basis, or near video-on-demand, or video-on-demand basis or otherwise) any one or more of audio and/or visual images, audio content, or interactive content
(including hyperlinks, re-purposed web-site content, database content plus associated templates, formatting information and other data including any interactive applications or functionality), text, data, graphics, or other content, by means of any
means of distribution, transmission or delivery system or technology (whether now known or herein after invented). 
 “Convertible
Senior Notes” means the $1,000,000,000 of 6.50% Convertible Senior Notes due 2016 issued pursuant to an indenture dated as of April 16, 2008 between Virgin Media and The Bank of New York, as trustee, as amended or supplemented from
time or any refinancing or replacement thereof (including successive refinancings). 
 “Corporate Trust Office of the
Trustee” will be at the address of the Trustee at One Canada Square, Canary Wharf, London E14 5AL, United Kingdom, or such other address as to which the Trustee may give notice to the Issuer. 

“Credit Facility” means, one or more debt facilities or arrangements (including, without limitation, the Senior Credit
Facility or any Permitted Revolving Credit Facility) or commercial paper facilities with banks or other institutions or investors providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to
such institutions or to special purpose entities formed to borrow from such institutions against such receivables), letters of credit or other Indebtedness, in each case, as amended, restated, modified, renewed, refunded, replaced, restructured,
refinanced, repaid, increased or extended in whole or in part from time to time (and whether in whole or in part and whether or not with the original administrative agent and lenders or another administrative agent or agents or other banks or
institutions or investors and whether provided under the Senior Credit Facility, a Permitted Revolving Credit Facility or one or more other credit or other agreements, indentures, financing agreements or otherwise) and in each case including all
agreements, instruments and documents executed 

  
 16 

 
and delivered pursuant to or in connection with the foregoing (including but not limited to any notes and letters of credit issued pursuant thereto and any guarantee and collateral agreement,
patent and trademark security agreement, mortgages or letter of credit applications and other guarantees, pledges, agreements, security agreements and collateral documents). Without limiting the generality of the foregoing, the term “Credit
Facility” shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Issuer as additional borrowers or guarantors thereunder,
(3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof. 

“Currency Agreement” means, in respect of a Person, any foreign exchange contract, currency swap agreement, futures contract,
option contract, derivative or other similar agreement as to which such Person is a party or a beneficiary. 
 “Custodian”
means, with respect to the Dollar Global Notes, The Bank of New York Mellon or any successor entity thereto and thereafter means the successor serving hereunder. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default; provided
that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed to be cured if such previous Default is cured prior to becoming an Event of Default. 

“Definitive Registered Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance
with Section 2.07, substantially in the form of Exhibit B hereto. 
 “Depositary” means, with respect to the
Notes issuable or issued in whole or in part in global form, DTC, in respect of the Dollar Notes, or Euroclear and Clearstream, in respect of the Euro Notes, in each case, including any and all successors thereto appointed as Depositary hereunder
and having become such pursuant to the applicable provision(s) of this Indenture. 
 “Designated Non-Cash Consideration”
means, the fair market value (as determined in good faith by the Board of Directors or senior management of the Issuer) of non-cash consideration received by the Issuer or one of the Restricted Subsidiaries in connection with an Asset Disposition
that is so designated as Designated Non-Cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent payment,
redemption, retirement, sale or other disposition of such Designated Non-Cash Consideration. A particular item of Designated Non-Cash Consideration will no longer be considered to be outstanding when and to the extent it has been paid, redeemed or
otherwise retired or sold or otherwise disposed of in compliance with Section 4.10. 
 “Disqualified Stock” means,
with respect to any Person, any Capital Stock of such Person which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event: 

 

	 	(1)	matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise; 

  

	 	(2)	is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock which is convertible or exchangeable solely at the option of the Issuer or a Restricted Subsidiary); or 

 

	 	(3)	is redeemable at the option of the holder of the Capital Stock in whole or in part, 

  
 17 

 in each case on or prior to the earlier of the date (a) of the Stated Maturity of the Notes
or (b) on which there are no Notes outstanding, provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof
prior to such date will be deemed to be Disqualified Stock; provided, further that any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Issuer to repurchase such Capital
Stock upon the occurrence of a change of control or asset sale (each defined in a substantially identical manner to the corresponding definitions in this Indenture) shall not constitute Disqualified Stock if the terms of such Capital Stock (and all
such securities into which it is convertible or for which it is ratable or exchangeable) provides that the Issuer may not repurchase or redeem any such Capital Stock (and all such securities into which it is convertible or for which it is ratable or
exchangeable) pursuant to such provision prior to compliance by the Issuer with the provisions of Section 3.12 and Section 4.10 and Section 4.14 and such repurchase or redemption complies with Section 4.07. 

“Distribution Business” means: 
  

	 	(1)	the business of upgrading, constructing, creating, developing, acquiring, operating, owning, leasing and maintaining cable television networks (including for avoidance of doubt master antenna television, satellite
master antenna television, single and multi-channel microwave single or multi-point distribution systems and direct-to-home satellite systems) for the transmission, reception and/or delivery of multi-channel television and radio programming,
telephony and internet and/or data services to the residential markets; or 

  

	 	(2)	any business which is incidental to or related to and, in either case, material to such business. 

“dollar” or “$” means the lawful currency of the United States of America. 

“Dollar 144A Global Note” means a Dollar Global Note substantially in the form of Exhibit A bearing the Global Note Legend
and the Private Placement Legend and deposited with the Custodian and registered in the name of Cede & Co., as nominee for DTC, that will be issued in a denomination equal to the outstanding principal amount of the Dollar Notes sold in
reliance on Rule 144A. 
 “Dollar Applicable Premium” means with respect to a Dollar Note at any Redemption Date prior to
January 15, 2020, the excess of (1) the present value at such Redemption Date of (A) the redemption price of such Dollar Note on January 15, 2020 (such redemption price being set forth in the table appearing in
Section 3.07(c) exclusive of any accrued and unpaid interest) plus (B) all required remaining scheduled interest payments due on such Dollar Note through January 15, 2020 (but excluding accrued and unpaid interest to the Redemption
Date), computed using a discount rate equal to the Treasury Rate plus 50 basis points over (2) the principal amount of such Dollar Note on such Redemption Date. 

“Dollar Book-Entry Interest” means a beneficial interest in a Dollar Global Note held by or through a Participant. 

“Dollar Definitive Registered Global Note” means a Definitive Registered Note bearing the Private Placement Legend in a
minimum principal amount of $200,000 and integral multiples of $1,000 above $200,000. 

  
 18 

 “Dollar Equivalent” means with respect to any monetary amount in euros, at any
time for the determination thereof, the amount of dollars obtained by converting the euros involved in such computation into dollars at the spot rate for the purchase of dollars with euro as published by Bloomberg on the date two Business Days prior
to such determination. 
 “Dollar Global Note” means the Dollar 144A Global Notes and the Dollar Regulation S Global Notes.

 “Dollar Notes” means the Dollar Global Notes and the Dollar Definitive Registered Notes. 

“Dollar Regulation S Global Note” means a Dollar Regulation S Temporary Global Note or a Dollar Regulation S Permanent Global
Note, as appropriate. 
 “Dollar Regulation S Permanent Global Note” means a permanent Global Note in the form of Exhibit A
hereto bearing the Global Note Legend and the Private Placement Legend and deposited with the Custodian and registered in the name of Cede & Co., as nominee for DTC, issued in a denomination equal to the denomination of the Dollar
Regulation S Temporary Global Note upon expiration of the Restricted Period. 
 “Dollar Regulation S Temporary Global Note”
means a temporary Global Note in the form of Exhibit A hereto bearing the Global Legend, the Private Placement Legend and the Regulation S Temporary Global Note Legend and, deposited with the Custodian and registered in the name of Cede &
Co., as nominee for DTC, issued in a denomination equal to the outstanding principal amount of the Dollar Notes initially sold in reliance on Rule 903 of Regulation S. 

“DTC” means The Depository Trust Company, a limited-purpose trust company under New York law, or any successor thereto. 

“Electronic Means” means the following communications methods: S.W.I.F.T. (Society for Worldwide Interbank Financial
Telecommunication) messaging, email, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee
as available for use in connection with its services hereunder. 
 “Equity Offering” means a sale of (1) Capital Stock
of the Issuer (other than Disqualified Stock), (2) Capital Stock the proceeds of which are contributed as equity share capital to the Issuer or as Subordinated Shareholder Loans or (3) Subordinated Shareholder Loans. 

“Escrowed Proceeds” means the proceeds from the offering of any debt securities or other Indebtedness paid into escrow
accounts with an independent escrow agent on the date of the applicable offering or incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such escrow accounts upon satisfaction of certain conditions or the
occurrence of certain events. The term “Escrowed Proceeds” shall include any interest earned on the amounts held in escrow. 

“euro” or “€” means the lawful currency of the European Union. 

“Euro 144A Global Note” means a Euro Global Note substantially in the form of Exhibit A bearing the Global Note Legend
and the Private Placement Legend and deposited with and registered in the name of, The Bank of New York Depository (Nominees) Limited as nominee for Euroclear and Clearstream that will be issued in a denomination equal to the outstanding principal
amount of the Euro Notes initially sold in reliance on Rule 144A. 

  
 19 

 “Euro Applicable Premium” means with respect to a Euro Note at any Redemption
Date prior to January 15, 2020, the excess of (1) the present value at such Redemption Date of (A) the redemption price of such Euro Note on January 15, 2020 (such redemption price being set forth in the table appearing in
Section 3.07(c) exclusive of any accrued and unpaid interest) plus (B) all required remaining scheduled interest payments due on such Euro Note through January 15, 2020 (but excluding accrued and unpaid interest to the redemption
date), computed using a discount rate equal to the Bund Rate plus 50 basis points over (2) the principal amount of such Euro Note on such Redemption Date. 

“Euro Book-Entry Interest” means a beneficial interest in a Euro Global Note held by or through a Participant. 

“Euro Definitive Registered Note” means a Definitive Registered Note bearing the Private Placement Legend in a principal
amount of €100,000 and integral multiples of €1,000 above €100,000. 
 “Euro Equivalent” means, with respect
to any monetary amount in a currency other than euro, at any time of determination thereof by the Issuer, the amount of euro obtained by converting such currency other than euro involved in such computation into euro at the spot rate for the
purchase of euro with the applicable currency other than euro as published in The Financial Times in the “Currency Rates” section (or, if The Financial Times is no longer published, or if such information is no longer available in The
Financial Times, such source as may be selected in good faith by the Board of Directors or senior management of the Issuer) on the date of such determination. 

“Euro Global Note” means the Euro 144A Global Notes and the Euro Regulation S Global Notes, collectively. 

“Euro MTF” means the Euro MTF, the alternative market of the Luxembourg Stock Exchange. 

“Euro Notes” means the Euro Global Notes and the Euro Definitive Registered Notes, collectively. 

“Euro Regulation S Global Note” means a Euro Regulation S Temporary Global Note or a Euro Regulation S Permanent Global Note,
as appropriate. 
 “Euro Regulation S Permanent Global Note” means a permanent Global Note in the form of Exhibit A
hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of the Common Depositary and registered in the name of a nominee thereof, issued in a denomination equal to the denomination of the relevant Euro
Regulation S Temporary Global Note upon expiration of the Restricted Period. 
 “Euro Regulation S Temporary Global Note”
means a temporary Global Note in the form of Exhibit A hereto bearing the Global Legend, the Private Placement Legend and the Regulation S Temporary Global Note Legend and deposited with the Common Depositary, as custodian for Euroclear or
Clearstream or on behalf of, and registered in the name of a nominee thereof, issued in a denomination equal to the outstanding principal amount of the Euro Notes initially sold in reliance on Rule 903 of Regulation S. 

“Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system or any successor thereto. 

“European Government Obligations” means any security that is (1) a direct obligation of Ireland, Belgium, the
Netherlands, France, The Federal Republic of Germany or any other country that is a member of the European Monetary Union on the Issue Date, for the 

  
 20 

 
payment of which the full faith and credit of such country is pledged or (2) an obligation of a person controlled or supervised by and acting as an agency or instrumentality of any such
country the payment of which is unconditionally guaranteed as a full faith and credit obligation by such country, which, in either case under the preceding clause (1) or (2), is not callable or redeemable at the option of the issuer thereof.

 “European Union” means the European Union, including member states as of May 1, 2004 but excluding any country
which became or becomes a member of the European Union after May 1, 2004. 
 “Exchange Act” means the United States
Securities Exchange Act of 1934, as amended. 
 “Excluded Contribution” means Net Cash Proceeds or property or assets
received by the Issuer as capital contributions or Subordinated Shareholder Loans to the Issuer after February 22, 2013 or from the issuance or sale (other than to a Restricted Subsidiary) of Capital Stock (other than Disqualified Stock) of the
Issuer, in each case to the extent designated as an Excluded Contribution pursuant to an Officer’s Certificate of the Issuer. 

“Existing Senior Notes” means the (1) $500 million of 6.000% Senior Notes due 2024, (2) £300 million of
6.375% Senior Notes due 2024, (3) the $530 million of 6.875% Senior Notes due 2023, (4) the £250 million of 7.000% Senior Notes due 2023, (5) the $500 million of 5.25% Senior Notes due 2022, (f) the $900 million of
4.875% Senior Notes due 2022 and (6) the £400 million of 5.125% Senior Notes due 2022, issued by the Issuer pursuant to the relevant Existing Senior Notes Indenture. 

“Existing Senior Notes Indentures” means collectively (1) the indenture dated as of June 3, 2009, among the Issuer,
Virgin Media, Virgin Media Group LLC, Virgin Media (UK) Group LLC (formerly Virgin Media (UK) Group, Inc.), Virgin Media Communications, VMIH, VMIL, The Bank of New York Mellon, acting through its London Branch, as trustee and paying agent and The
Bank of New York Mellon (Luxembourg) S.A. as Luxembourg paying agent, as amended or supplemented from time to time, (2) the indenture dated as of March 13, 2012, among the Issuer, Virgin Media, Virgin Media Group LLC, Virgin Media (UK)
Group LLC (formerly Virgin Media (UK) Group, Inc.), Virgin Media Communications, VMIH, VMIL, The Bank of New York Mellon, acting through its London Branch, as trustee and paying agent and The Bank of New York Mellon (Luxembourg) S.A. as Luxembourg
paying agent, as amended or supplemented from time to time, (3) the indenture dated as of October 30, 2012, among the Issuer, Virgin Media, Virgin Media Group LLC, Virgin Media (UK) Group LLC (formerly Virgin Media (UK) Group, Inc.),
Virgin Media Communications, VMIH, VMIL, The Bank of New York Mellon, acting through its London Branch, as trustee and paying agent and The Bank of New York Mellon (Luxembourg) S.A. as Luxembourg paying agent, as amended or supplemented from time to
time, (4) the indenture dated February 22, 2013, among Lynx II Corp., The Bank of New York Mellon, acting through its London Branch, as trustee, transfer agent and principal paying agent, The Bank of New York Mellon, as paying agent and
newco security trustee and The Bank of New York Mellon (Luxembourg) S.A., as registrar, as amended or supplemented on June 7, 2013 pursuant to which, inter alia, the Issuer assumed the obligations of Lynx II, as issuer, and as further amended
or supplemented from time to time and (5) the indenture dated as of October 7, 2014, among the Issuer, Virgin Media, Virgin Media Group LLC, Virgin Media (UK) Group LLC (formerly Virgin Media (UK) Group, Inc.), Virgin Media Communications,
VMIH, VMIL, The Bank of New York Mellon, London Branch, as trustee, transfer agent and principal paying agent, The Bank of New York Mellon, as paying agent and The Bank of New York Mellon (Luxembourg) S.A. as transfer agent, as amended or
supplemented from time to time. 

  
 21 

 “Existing Senior Secured Notes” means the (1) the $1,000 million of 5.875%
Senior Secured Notes due 2021, (2) the £1,100 million of 6.000% Senior Secured Notes due 2021, (3) the £650 million of 5.500% Senior Secured Notes due 2021, (4) the $500 million of 5.250% Senior Secured Notes due
2021, (e) the $425 million of 5.500% Senior Secured Notes due 2025, (5) the £430 million of 5.500% Senior Secured Notes due 2025 and (6) the £400 million of 6.250% Senior Secured Notes due 2029, issued by Virgin
Media Secured Finance pursuant to relevant Existing Senior Secured Notes Indenture. 
 “Existing Senior Secured Notes
Indentures” means collectively (1) the indenture dated as of March 3, 2011 among Virgin Media Secured Finance, Virgin Media, the Issuer, VMIH, the guarantors party thereto, The Bank of New York Mellon, acting through its London
Branch, as trustee and paying agent and The Bank of New York Mellon (Luxembourg) S.A. as Luxembourg paying agent, as amended or supplemented from time to time, (2) the indenture dated as of February 22, 2013 among Lynx I Corp. and The Bank
of New York Mellon, acting through its London Branch, as trustee, newco security agent, transfer agent and principal paying agent, The Bank of New York Mellon, as paying agent and The Bank of New York Mellon (Luxembourg) S.A., as registrar, as
amended or supplemented on June 7, 2013 pursuant to which, inter alia, Virgin Media Secured Finance assumed the obligations of Lynx I, as issuer, and as further amended or supplemented from time to time and (3) the indenture dated as of
March 28, 2014 among Virgin Media Secured Finance, Virgin Media, the Issuer, VMIH, the guarantors party thereto, The Bank of New York Mellon, acting through its London Branch, as trustee and paying agent and The Bank of New York Mellon
(Luxembourg) S.A. as Luxembourg paying agent, as amended or supplemented from time to time. 
 “fair market value” unless
otherwise specified, wherever such term is used in this Indenture (except as otherwise specifically provided in this Indenture), may be conclusively established by means of an Officer’s Certificate or a resolution of the Board of Directors of
the Issuer setting out such fair market value as determined by such Officer or such Board of Directors in good faith. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect as of the Issue Date or,
for purposes of Section 4.03, as in effect from time to time; provided that at any date after the Issue Date the Issuer may make an irrevocable election to establish that “GAAP” shall mean GAAP as in effect on a date that is on
or prior to the date of such election. Except as otherwise expressly provided below or in this Indenture, all ratios and calculations based on GAAP contained in this Indenture shall be computed in conformity with GAAP. At any time after the Issue
Date, the Issuer may elect to apply for all purposes of this Indenture, in lieu of GAAP, IFRS and, upon such election, references to GAAP herein will be construed to mean IFRS as in effect on the Issue Date; provided that (1) all
financial statements and reports to be provided, after such election, pursuant to this Indenture shall be prepared on the basis of IFRS as in effect from time to time (including that, upon first reporting its fiscal year results under IFRS, the
Issuer shall restate its financial statements on the basis of IFRS for the year ending immediately prior to the first fiscal year for which financial statements have been prepared on the basis of IFRS), and (2) from and after such election, all
ratios, computations and other determinations based on GAAP contained in this Indenture shall, at the Issuer’s option (A) continue to be computed in conformity with GAAP (provided that, following such election, the annual and
quarterly information required by clauses (1) and (2) of Section 4.03(a) shall include a reconciliation, either in the footnotes thereto or in a separate report delivered therewith, of such GAAP presentation to the corresponding IFRS
presentation of such financial information), or (B) be computed in conformity with IFRS with retroactive effect being given thereto assuming that such election had been made on the Issue Date. Thereafter, the Issuer may, at its option, elect to
apply GAAP or IFRS and compute all ratios, computations and other determinations based on GAAP or IFRS, as applicable, all on the basis of the foregoing provisions of this definition of GAAP. 

  
 22 

 “Global Note Legend” means the legend set forth in Section 2.07(j)(2),
which is required to be placed on all Global Notes issued under this Indenture. 
 “Global Notes” means, individually and
collectively, each of the Restricted Global Notes and the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depositary or a nominee thereof, substantially in the form of Exhibit A hereto and that
bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 2.01, 2.07(c), 2.07(d), 2.07(f) or 2.07(h). 

“Group Intercreditor Deed” means the Group Intercreditor Deed originally entered into on March 3, 2006 and as amended
from time to time, between The Bank of Nova Scotia as facility agent, Deutsche Bank AG, London Branch as security trustee, the Original Borrowers, the Original Guarantors, the Senior Lenders, the Lessors, the Lessees, the Hedge Counterparties, the
Lessor’s Agent, the Intergroup Debtors and the Intergroup Creditors (each as defined therein) as the same may be amended, modified, supplemented, extended or replaced from time to time. 

“guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness
of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 
  

	 	(1)	to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase
assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise); or 

  

	 	(2)	entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided,
however, that the term “guarantee” will not include endorsements for collection or deposit in the ordinary course of business. The term “guarantee” used as a verb has a corresponding meaning. 

“guarantor” means the obligor under a guarantee. 

“Guarantor” means (1) each of the Parent Guarantors and the Subsidiary Guarantors in its capacity as guarantor of the
Notes and (2) each Additional Guarantor in its capacity as an additional guarantor of the Notes. 
 “Hedging
Obligations” of any Person means the obligations of such Person pursuant to any Interest Rate Agreement, Commodity Agreement or Currency Agreement. 

“High Yield Trustee Direct Claims” refers to such term as defined in the Intercreditor Deed. 

“Holder” means a Person in whose name a Note is registered on the Registrar’s books. 

“Holding Company” means, in relation to a person, an entity of which that person is a Subsidiary. 

  
 23 

 “IFRS” means the accounting standards issued by the International Accounting
Standards Board and its predecessors as in effect on the Issue Date. 
 “Incur” means issue, create, assume, guarantee,
incur or otherwise become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) will be
deemed to be Incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary; and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing. 

“Indebtedness” means, with respect to any Person on any date of determination (without duplication): 

 

	 	(1)	money borrowed or raised and debit balances at banks; 

  

	 	(2)	any bond, note, loan stock, debenture or similar debt instrument; 

  

	 	(3)	acceptance or documentary credit facilities; 

  

	 	(4)	receivables sold or discounted (otherwise than on a non-recourse basis and other than in the normal course of business for collections); 

 

	 	(5)	any other transaction (including without limitation forward sale or purchase agreements) having the commercial effect of a borrowing or raising of money or any of (2) to (4) above; 

 

	 	(6)	the principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any Restricted Subsidiary,
any Preferred Stock (but excluding, in each case, any accrued dividends); and 

  

	 	(7)	the principal component of Indebtedness of other Persons to the extent guaranteed by such Person to the extent not otherwise included in the Indebtedness of such Person, 

provided that Indebtedness which has been cash-collateralized shall not be included in any calculation of Indebtedness to the extent so
cash-collateralized. 
 Notwithstanding the foregoing, “Indebtedness” shall not include (a) any deposits or prepayments
received by the Issuer or a Restricted Subsidiary from a customer or subscriber for its service, (b) any obligations to make payments in relation to earn outs, (c) Indebtedness which is in the nature of equity (other than redeemable
shares); (d) Capitalized Lease Obligations, (e) any indebtedness in respect of Qualified Receivables Transactions, (f) pension obligations and (g) any payments for assets acquired or services supplied deferred (including Trade
Payables) in accordance with the terms pursuant to which the relevant assets were or are to be acquired or services were or are to be supplied. The amount of Indebtedness of any Person at any date will be the outstanding balance at such date of all
unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date. 

“Indenture” means this Indenture, as amended or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm of nationally recognized standing
that is, in the good faith judgment of the Board of Directors or senior management of the Issuer, qualified to perform the task for which it has been engaged. 

  
 24 

 “Initial Notes” means the first $400,000,000 aggregate principal amount of
Dollar Notes and the first €460,000,000 aggregate principal amount of Euro Notes issued under this Indenture on the Issue Date. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 

“Initial Public Offering” means an Equity Offering of common stock or other common equity interests of the Issuer or any
direct or indirect parent company of the Issuer (the “IPO Entity”) following which there is a Public Market and, as a result of which, the shares of the common stock or other common equity interests of the IPO Entity in such offering are
listed on an internationally recognized exchange or traded on an internationally recognized market. 
 “Initial Purchasers”
means, Deutsche Bank AG, London Branch, Deutsche Bank Securities Inc., Barclays Bank PLC, BNP PARIBAS, Credit Suisse Europe (Securities) Limited and HSBC Bank plc, as initial purchasers of the Initial Notes. 

“Intercreditor Deed” means the Intercreditor Deed first entered into among the Issuer, VMIH, Credit Suisse First Boston, The
Bank of New York and the senior lenders party thereto, on April 13, 2004, as the same may be amended, modified, supplemented, extended or replaced from time to time, in each case in accordance with the terms of this Indenture. 

“Instructions” means Oral Instructions and Written Instructions. 

“Interest Payment Date” has the meaning given to it in the Notes. 

“Interest Rate Agreement” means, with respect to any Person, any interest rate protection agreement, interest rate future
agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a
beneficiary. 
 “Intra-Group Services” means any of the following (provided that the terms of each such transaction
are not materially less favorable, taken as a whole, to the Issuer or a Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable transaction in arm’s length dealings with a Person that is not an Affiliate):

  

	 	(1)	the sale of programming or other content by the Ultimate Parent, the Spin Parent or any of their respective Subsidiaries to the Issuer or any Restricted Subsidiary; 

 

	 	(2)	the lease or sublease of office space, other premises or equipment by the Issuer or the Restricted Subsidiaries to the Ultimate Parent, the Spin Parent or any of their respective Subsidiaries or by the Ultimate Parent,
the Spin Parent or any of their respective Subsidiaries to the Issuer or the Restricted Subsidiaries; 

  

	 	(3)	 the provision or receipt of other goods, services, facilities or other arrangements (in each case not constituting Indebtedness) in the ordinary
course of business, by the Issuer or the Restricted Subsidiaries to or from the Ultimate Parent, the Spin Parent or any of their respective Subsidiaries, including, without limitation, (A) the employment of personnel, (B) provision of
employee healthcare or other benefits, (C) acting as agent to buy or develop equipment, other assets or services or to trade with residential or business 

  
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customers, and (D) the provision of treasury, audit, accounting, banking, strategy, branding, marketing, network, technology, research and development, telephony, office, administrative,
compliance, payroll or other similar services; and 

  

	 	(4)	the extension, in the ordinary course of business and on terms not materially less favorable to the Issuer or the Restricted Subsidiaries than arm’s length terms, by or to the Issuer or the Restricted Subsidiaries
to or by the Ultimate Parent, the Spin Parent or any of their respective Subsidiaries of trade credit not constituting Indebtedness in relation to the provision or receipt of Intra-Group Services referred to in clauses (1), (2) or
(3) above. 

 “Investment” means, with respect to any Person, all investments by such Person in other
Persons (including Affiliates) in the form of any direct or indirect advance, loan (other than advances or extensions of credit to customers in the ordinary course of business) or other extensions of credit (including by way of guarantee or similar
arrangement, but excluding any debt or extension of credit represented by a bank deposit other than a time deposit) or capital contribution to (by means of any transfer of cash or other property to others or any payment for property or services for
the account or use of others), or any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by, such Person and all other items that are or would be classified as investments on a balance sheet prepared in
accordance with GAAP; provided that none of the following will be deemed to be an Investment: 
  

	 	(1)	Hedging Obligations entered into in the ordinary course of business and in compliance with this Indenture; 

  

	 	(2)	endorsements of negotiable instruments and documents in the ordinary course of business; and 

  

	 	(3)	an acquisition of assets, Capital Stock or other securities by the Issuer or a Subsidiary for consideration to the extent such consideration consists of Common Stock of the Issuer. 

For purposes of the definition of “Unrestricted Subsidiary” and Section 4.07, 

 

	 	(A)	“Investment” will include the portion (proportionate to the Issuer’s equity interest in a Restricted Subsidiary to be designated as an Unrestricted Subsidiary) of the fair market value of the net assets
of such Restricted Subsidiary at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer will be deemed to
continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (i) the Issuer’s “Investment” in such Subsidiary at the time of such redesignation less (ii) the portion
(proportionate to the Issuer’s equity interest in such Subsidiary) of the fair market value of the net assets (as conclusively determined by the Board of Directors or senior management of the Issuer in good faith) of such Subsidiary at the time
that such Subsidiary is so redesignated a Restricted Subsidiary; and 

  

	 	(B)	any property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Board of Directors or senior
management of the Issuer. 

  
 26 

 If the Issuer or a Restricted Subsidiary transfers, conveys, sells, leases or otherwise disposes
of Voting Stock of a Restricted Subsidiary such that such Subsidiary is no longer a Restricted Subsidiary, then the Investment of the Issuer in such Person shall be deemed to have been made as of the date of such transfer or other disposition in an
amount equal to the fair market value (as determined by the Board of Directors or senior management of the Issuer in good faith). 

“Investment Grade Securities” means: 
  

	 	(1)	securities issued by the U.S. government or by any agency or instrumentality thereof (other than Cash Equivalents) or directly and fully guaranteed or insured by the U.S. government and in each case with maturities not
exceeding two years from the date of the acquisition; 

  

	 	(2)	securities issued by or a member of the European Union as of January 1, 2004, or any agency or instrumentality thereof (other than Cash Equivalents) or directly and fully guaranteed or insured by a member of the
European Union as of January 1, 2004, and in each case with maturities not exceeding two years from the date of the acquisition; 

  

	 	(3)	debt securities or debt instruments with a rating of A or higher by Standard & Poor’s Ratings Services or A-2 or higher by Moody’s Investors Service, Inc. or the equivalent of such rating by such
rating organization, or if no rating of Standard & Poor’s Ratings Services or Moody’s Investors Service, Inc. then exists, the equivalent of such rating by any other nationally recognized securities ratings agency, by excluding
any debt securities or instruments constituting loans or advances among the Issuer and its Subsidiaries; 

  

	 	(4)	investments in any fund that invests exclusively in investments of the type described in clauses (1) through (3) which fund may also hold immaterial amounts of cash and Cash Equivalents pending investment
and/or distribution; and 

  

	 	(5)	corresponding instruments in countries other than those identified in clauses (1) and (2) above customarily utilized for high quality investments and, in each case, with maturities not exceeding two years from
the date of the acquisition. 

 “Investment Grade Status” shall occur when the Notes receive both of the
following: 
  

	 	(1)	a rating of “Baa3” (or the equivalent) or higher from Moody’s Investors Service, Inc. or any of its successors or assigns; and 

 

	 	(2)	a rating of “BBB-” (or the equivalent) or higher from Standard & Poor’s Ratings Services, or any of its successors or assigns, 

in each case, with a “stable outlook” from such rating agency. 

“IPO Market Capitalization” means an amount equal to (1) the total number of issued and outstanding shares of Capital
Stock of the IPO Entity at the time of closing of the Initial Public Offering multiplied by (2) the price per share at which such shares of common stock or common equity interests are sold in such Initial Public Offering. 

“Issue Date” means the date of first issuance of the Notes. 

  
 27 

 “Issuer” means Virgin Media Finance PLC and any and all successors thereto (by
merger, consolidation, transfer, conversion of legal form or otherwise). 
 “Law” means, collectively, all international,
foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any governmental authority
charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any governmental authority, in each case
whether or not having the force of law. 
 “Lien” means any mortgage, pledge, security interest, encumbrance, lien or
charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof). 

“Losses” means any and all claims, losses, liabilities, damages, costs, expenses and judgments (including legal fees and
expenses) sustained by either party. 
 “Management Fees” means any management, consultancy or other similar fees payable
by the Issuer or any Restricted Subsidiary. 
 “Market Capitalization” means an amount equal to (1) the total number
of issued and outstanding shares of Capital Stock of the IPO Entity on the date of the declaration of the relevant dividend, multiplied by (2) the arithmetic mean of the closing prices per share of such Capital Stock for the 30 consecutive
trading days immediately preceding the date of the declaration of such dividend. 
 “Net Available Cash” from an Asset
Disposition means cash payments received (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and net proceeds from the sale or other disposition of any securities
received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring person of Indebtedness or other obligations relating to the properties or assets that are the subject
of such Asset Disposition or received in any other non-cash form) therefrom, in each case net of: 
  

	 	(1)	all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expenses Incurred, and all federal, state, provincial, foreign and local taxes required to be paid or accrued
as a liability under GAAP (after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Disposition; 

 

	 	(2)	all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon such assets, or which must by its terms, or in order to obtain a
necessary consent to such Asset Disposition, or by applicable law be repaid out of the proceeds from such Asset Disposition; 

  

	 	(3)	all distributions and other payments required to be made to minority interest holders in Subsidiaries or joint ventures as a result of such Asset Disposition; and 

 

	 	(4)	the deduction of appropriate amounts to be provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the assets disposed of in such Asset Disposition and retained by the
Issuer or any Restricted Subsidiary after such Asset Disposition. 

  
 28 

 “Net Cash Proceeds” means, with respect to any issuance or sale of Capital
Stock, Subordinated Shareholder Loans and other capital contributions, the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, listing fees, discounts or
commissions and brokerage, consultant and other fees and charges actually Incurred in connection with such issuance or sale and net of taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or
deductions and any tax sharing arrangements). 
 “New Immediate Holdco” means the direct or indirect Subsidiary of the
Ultimate Parent following the Post-Closing Reorganization. 
 “Non-U.S. Person” means a Person who is not a U.S. Person.

 “Note Guarantee” means the guarantee by each Guarantor of the Issuer’s obligations under this Indenture and the
Notes, executed pursuant to the provisions of this Indenture. 
 “Notes” has the meaning assigned to it in the preamble to
this Indenture. The Initial Notes and the Additional Notes will be treated as a single class for all purposes under this Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any
Additional Notes. 
 “Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements,
damages and other liabilities payable under the documentation governing any Indebtedness. 
 “Offering Memorandum” means
the final offering memorandum, dated January 13, 2015, relating to the offer of the Initial Notes. 
 “Officer” of any
Person means the Chairman of the Board of Directors, the Chief Executive Officer, the Chief Financial Officer, Deputy Chief Financial Officer, the President, any Vice President, any Managing Director, any Director, the Treasurer, any Assistant
Treasurer, the Secretary or any Assistant Secretary, or any authorized signatory of such Person. 
 “Officer’s
Certificate” means a certificate signed by an Officer. 
 “Opinion of Counsel” means a written opinion from legal
counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer or the Trustee. 

“Oral Instructions” means verbal instructions or directions received by the Agents from an Authorized Person or a person
reasonably believed by the Agents to be an Authorized Person. 
 “Parent” means the Ultimate Parent, any Subsidiary of the
Ultimate Parent of which the Issuer is a Subsidiary on the Issue Date and any other Person of which the Issuer at any time is or becomes a Subsidiary after the Issue Date. 

“Parent Expenses” means: 
  

	 	(1)	costs (including all professional fees and expenses) Incurred by any Parent in connection with reporting obligations under or otherwise Incurred in connection with compliance with applicable laws, applicable rules or
regulations of any governmental, regulatory or self-regulatory body or stock exchange, this Indenture or any other agreement or instrument relating to Indebtedness of the Issuer or any Restricted Subsidiary; 

  
 29 

	 	(2)	indemnification obligations of any Parent owing to directors, officers, employees or other Persons under its charter or by-laws or pursuant to written agreements with any such Person with respect to its ownership of the
Issuer or the conduct of the business of the Issuer and the Restricted Subsidiaries; 

  

	 	(3)	obligations of any Parent in respect of director and officer insurance (including premiums therefor) with respect to its ownership of the Issuer or the conduct of the business of the Issuer and the Restricted
Subsidiaries; and 

  

	 	(4)	general corporate overhead expenses, including professional fees and expenses and other operational expenses of any Parent or Subsidiary of a Parent related to the ownership or operation of the business (including, but
not limited to, Intra-Group Services) of the Issuer or any of the Restricted Subsidiaries, including acquisitions or dispositions by the Issuer or the Subsidiaries permitted hereunder (whether or not successful), in each case, to the extent such
costs, obligations and/or expenses are not paid by another Subsidiary of such Parent. 

 “Parent Guarantor”
means (1) each of Virgin Media, Virgin Media Group LLC, Virgin Media (UK) Group LLC and Virgin Media Communications and (2) each Additional Parent Guarantor. 

“Pari Passu Indebtedness” means Indebtedness of the Issuer that ranks equally or junior in right of payment with the Notes or
the Note Guarantees (taking the Intercreditor Deed into account). 
 “Participant” means, with respect to the Depositary, a
Person who has an account with DTC, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 

“Permitted Asset Swap” means the concurrent purchase and sale or exchange of related business assets (including, without
limitation, securities of a Related Business) or a combination of such assets, cash and Cash Equivalents between the Issuer or any of the Restricted Subsidiaries and another Person. 

“Permitted Business” means any business: 
  

	 	(1)	engaged in by the Issuer or any other Restricted Subsidiary on the Issue Date; 

  

	 	(2)	that consists of the upgrade, construction, creation, development, marketing, acquisition (to the extent permitted under this Indenture), operation, utilization and maintenance of networks that use existing or future
technology for the transmission, reception and delivery of voice, video and/or other data (including networks that transmit, receive and/or deliver services such as multi-channel television and radio, programming, telephony (including for the
avoidance of doubt, mobile telephony), Internet services and content, high speed data transmission, video, multi-media and related activities); 

  

	 	(3)	that supports, is incidental, ancillary or complementary to or is related to any such business including, without limitation, all forms of television, telephony and internet services and any services relating to
carriers, networks, broadcast or communications services, or Content; or 

  

	 	(4)	that comprises being a Holding Company of one or more Persons engaged in such business. 

  
 30 

 “Permitted Holders” means, collectively, (1) the Ultimate Parent,
(2) in the event of a Spin-Off, the Spin Parent and any Subsidiary of the Spin Parent, (3) any Affiliate or Related Person of a Permitted Holder described in clause (1) above, and any successor to such Permitted Holder, Affiliate, or
Related Person, (4) any Person who is acting as an underwriter in connection with any public or private offering of Capital Stock of the Issuer, acting in such capacity and (5) any “person” or “group” of related persons
(as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) whose acquisition of “beneficial ownership” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act) of Voting Stock or of all or substantially all of the
assets of the Issuer and the Restricted Subsidiaries (taken as a whole) constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of Section 4.14. 

“Permitted Investment” means an Investment by the Issuer or any Restricted Subsidiary in: 

 

	 	(1)	the Issuer or a Restricted Subsidiary (other than a Receivables Entity) or a Person which will, upon the making of such Investment, become a Restricted Subsidiary (other than a Receivables Entity); 

 

	 	(2)	another Person if as a result of such Investment such other Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the Issuer or a Restricted Subsidiary (other
than a Receivables Entity); 

  

	 	(3)	cash and Cash Equivalents or Investment Grade Securities; 

  

	 	(4)	receivables owing to the Issuer or any Restricted Subsidiary created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary trade terms; provided, however, that
such trade terms may include such concessionary trade terms as the Issuer or any such Restricted Subsidiary deems reasonable under the circumstances; 

  

	 	(5)	payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business;

  

	 	(6)	loans or advances to employees made in the ordinary course of business consistent with past practices of the Issuer or such Restricted Subsidiary; 

 

	 	(7)	Capital Stock, obligations or securities received in settlement of debts created in the ordinary course of business and owing to the Issuer or any Restricted Subsidiary, or as a result of foreclosure, perfection or
enforcement of any Lien, or in satisfaction of judgments or pursuant to any plan of reorganization or similar arrangement including upon the bankruptcy or insolvency of a debtor; 

 

	 	(8)	Investments made as a result of the receipt of non-cash consideration from a sale or other disposition of property or assets, including without limitation an Asset Disposition, in each case, that was made in compliance
with Section 4.10 and other Investments resulting from the disposition of assets in transactions excluded from the definition of “Asset Disposition” pursuant to the exclusions from such definition; 

 

	 	(9)	 any Investment existing on the Issue Date or made pursuant to binding commitments in effect on the Issue Date or an Investment consisting of any
extension, modification, replacement, renewal or reinvestment of any 

  
 31 

	 	
Investment or binding commitment existing on the Issue Date or made in compliance with Section 4.07; provided, that the amount of any such Investment or binding commitment may be
increased (A) as required by the terms of such Investment or binding commitment as in existence on the Issue Date (including as a result of the accrual or accretion of interest or original issue discount or the issuance of pay-in-kind
securities) or (B) as otherwise permitted under this Indenture; 

  

	 	(10)	Currency Agreements, Commodity Agreements and Interest Rate Agreements and related Hedging Obligations, which transactions or obligations are Incurred in compliance with Section 4.09; 

 

	 	(11)	Investments by the Issuer or any of the Restricted Subsidiaries, together with all other Investments pursuant to this clause (11), in an aggregate amount at the time of such Investment not to exceed the greater of
£350 million and 5.0% of Total Assets at any one time, provided that, if an Investment is made pursuant to this clause in a Person that is not a Restricted Subsidiary and such Person subsequently becomes a Restricted Subsidiary or
is subsequently designated a Restricted Subsidiary pursuant to Section 4.07, such Investment shall thereafter be deemed to have been made pursuant to clause (1) or (2) of the definition of “Permitted Investments” and not
this clause; 

  

	 	(12)	Investments by the Issuer or a Restricted Subsidiary in a Receivables Entity or any Investment by a Receivables Entity in any other Person, in each case, in connection with a Qualified Receivables Transaction, provided,
however, that any Investment in any such Person is in the form of a Purchase Money Note, or any equity interest or interests in Receivables and related assets generated by the Issuer or a Restricted Subsidiary and transferred to any Person in
connection with a Qualified Receivables Transaction or any such Person owning such Receivables; 

  

	 	(13)	guarantees issued in accordance with Section 4.09 and other guarantees (and similar arrangements) of obligations not constituting Indebtedness; 

 

	 	(14)	pledges or deposits (A) with respect to leases or utilities provided to third parties in the ordinary course of business or (B) otherwise described in the definition of “Permitted Liens” or made in
connection with Liens permitted under Section 4.12; 

  

	 	(15)	the Notes, the Existing Senior Notes and the Existing Senior Secured Notes and the Senior Secured Notes; 

  

	 	(16)	so long as no Default or Event of Default of the type specified in Section 6.01(a)(1) or Section 6.01(a)(2) has occurred and is continuing, (A) minority Investments in any Person engaged in a Permitted
Business and (B) Investments in joint ventures that conduct a Permitted Business to the extent that, after giving pro forma effect to any such Investment, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00;

  

	 	(17)	any Investment to the extent made using as consideration Capital Stock of the Issuer (other than Disqualified Stock), Subordinated Shareholder Loans or Capital Stock of any Parent; 

 

	 	(18)	 Investments acquired after the Issue Date as a result of the acquisition by the Issuer or a Restricted Subsidiary, including by way of merger,
amalgamation 

  
 32 

	 	
or consolidation with or into the Issuer or any Restricted Subsidiary in a transaction that is not prohibited by Section 5.01 after the Issue Date to the extent that such Investments were
not made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

 

	 	(19)	Permitted Joint Ventures; 

  

	 	(20)	[Reserved]; 

  

	 	(21)	Investments resulting from the disposition of assets in transactions excluded from the definition of “Asset Disposition” pursuant to the exclusions from such definition; 

 

	 	(22)	any Person where such Investment was acquired by the Issuer or any other Restricted Subsidiary (A) in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary in
connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable or (B) as a result of a foreclosure by the Issuer or any such Restricted Subsidiary with
respect to any secured Investment or other transfer of title with respect to any secured Investment in default; and 

  

	 	(23)	any transaction to the extent constituting an Investment that is permitted and made in accordance with the provisions of Section 4.11(b) (except those described in clauses (1), (5), (9) and (22) of
Section 4.11(b)). 

 “Permitted Joint Ventures” means one or more joint ventures formed by the
contribution of some or all of the assets of the Virgin Media Business division pursuant to a Business Division Transaction to a joint venture formed by the Issuer or any of the Restricted Subsidiaries with one or more other joint venturers. 

“Permitted Liens” means: 
  

	 	(1)	Liens on Receivables and related assets of the type described in the definition of “Qualified Receivables Transaction” Incurred in connection with a Qualified Receivables Transaction; 

 

	 	(2)	pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the
payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or United States government bonds to secure surety or appeal bonds to which such Person is a
party, or deposits as security for contested taxes or import or customs duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

 

	 	(3)	Liens imposed by law, including carriers’, warehousemen’s, mechanics’ landlords’, materialmen’s and repairmen’s or other like Liens, in each case for sums not yet overdue for a period of
more than 60 days or that are bonded or being contested in good faith by appropriate proceedings; 

  

	 	(4)	Liens for taxes, assessments or other governmental charges not yet subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings provided appropriate reserves required
pursuant to GAAP have been made in respect thereof; 

  
 33 

	 	(5)	Liens in favor of issuers of surety or performance bonds or letters of credit or bankers’ acceptances issued pursuant to the request of and for the account of such Person in the ordinary course of its business;

  

	 	(6)	encumbrances, ground leases, easements or reservations of, or rights of others for, licenses, rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or
other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of the Issuer and the Restricted Subsidiaries
or to the ownership of its properties which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of the Issuer and the Restricted Subsidiaries;

  

	 	(7)	[Reserved]; 

  

	 	(8)	leases, licenses, subleases and sublicenses of assets (including, without limitation, real property and intellectual property rights) which do not materially interfere with the ordinary conduct of the business of the
Issuer or the Restricted Subsidiaries; 

  

	 	(9)	Liens arising out of judgments, decrees, orders or awards not giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings which may have been duly initiated for the
review of such judgment, decree, order or award have not been finally terminated or the period within which such proceedings may be initiated has not expired; 

  

	 	(10)	Liens for the purpose of securing the payment of all or a part of the purchase price of, or Capitalized Lease Obligations, Purchase Money Obligations or other payments Incurred to finance the acquisition, improvement or
construction of, assets or property acquired or constructed in the ordinary course of business provided that such Liens do not encumber any other assets or property of the Issuer or the Restricted Subsidiaries other than such assets or
property and assets affixed or appurtenant thereto; 

  

	 	(11)	Liens arising solely by virtue of any statutory or common law provisions or customary business provisions relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other
funds maintained with a depositary institution; provided that such deposit account is not intended by the Issuer or the Restricted Subsidiaries to provide collateral to the depository institution; 

 

	 	(12)	Liens arising from United States Uniform Commercial Code financing statement filings (or similar filings in other applicable jurisdictions) regarding operating leases entered into by the Issuer and the Restricted
Subsidiaries in the ordinary course of business; 

  

	 	(13)	(A) Liens on rights, property and assets of the Restricted Subsidiaries to secure Indebtedness to the extent Incurred in compliance with Section 4.09(a) or clauses (1), (3), (7), (12), (16) and (19) under
Section 4.09(b) and guarantees thereof and (B) Liens on rights, property and assets of the Issuer to secure guarantees of Indebtedness to the extent such Indebtedness was Incurred in compliance with Section 4.09(a) or clauses (1),
(3), (7), (12), (16) and (19) under the Section 4.09(b); 

  
 34 

	 	(14)	Liens securing obligations under any Additional Notes (as defined in each of the indentures for the Existing Senior Secured Notes and the Senior Secured Notes) and guarantees thereof; 

 

	 	(15)	Liens existing on, or provided for under written arrangements existing on, the Issue Date; 

  

	 	(16)	Liens on property, other assets or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary; provided, however, that any such Lien may not extend to any other property owned by
the Issuer or any other Restricted Subsidiary; 

  

	 	(17)	Liens on property at the time the Issuer or a Restricted Subsidiary acquired the property, including any acquisition by means of a merger or consolidation with or into any Restricted Subsidiary; provided,
however, that any such Lien may not extend to any other property owned by the Issuer or such Restricted Subsidiary; 

  

	 	(18)	Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Issuer or another Restricted Subsidiary; 

  

	 	(19)	Liens on rights, property and assets of the Restricted Subsidiaries to secure Indebtedness to the extent Incurred in compliance with Section 4.09(b)(6) and guarantees thereof; provided that, at the time of
the acquisition or other transaction pursuant to which such Indebtedness was Incurred and after giving effect to the Incurrence of such Indebtedness on a pro forma basis, (A) the Issuer would have been able to incur £1.00 of additional
Indebtedness pursuant to Section 4.09(a) or (B) the Consolidated Net Leverage Ratio would not be greater than it was immediately prior to giving pro forma effect to such acquisition or other transaction and to the Incurrence of such
Indebtedness); 

  

	 	(20)	Liens securing Refinancing Indebtedness Incurred to refinance Indebtedness that was previously so secured, provided that any such Lien is limited to all or part of the same property or assets (plus improvements,
accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of property that is the
security for a Permitted Lien hereunder; 

  

	 	(21)	Liens securing the Notes or the Note Guarantees; 

  

	 	(22)	Liens on Capital Stock or other securities of any Unrestricted Subsidiary that secure Indebtedness or other obligations of such Unrestricted Subsidiary; 

 

	 	(23)	any interest or title of a lessor under any Capitalized Lease Obligations or operating leases; 

  

	 	(24)	any encumbrance or restriction (including, but not limited to, put and call arrangements) with respect to Capital Stock of any joint venture or similar arrangement pursuant to any joint venture or similar agreement;

  

	 	(25)	Liens over rights under loan agreements relating to, or over notes or similar instruments evidencing, the on-loan of proceeds received by a Restricted Subsidiary from the issuance of Indebtedness, which Liens are
created to secure payment of such Indebtedness; 

  
 35 

	 	(26)	Liens of a Restricted Subsidiary that is not the Issuer or a Guarantor securing Indebtedness of a Restricted Subsidiary that is not the Issuer or a Guarantor; 

 

	 	(27)	any Liens in respect of the ownership interests in, or assets owned by, any joint ventures securing obligations of such joint ventures; 

 

	 	(28)	Liens on (A) Escrowed Proceeds for the benefit of the related holders of debt securities or other Indebtedness (or the underwriters or arrangers thereof) or (B) cash set aside at the time of the Incurrence of
any Indebtedness or government securities purchased with such cash, in either case, to the extent such cash or government securities prefund the payment of interest on such Indebtedness and are held in escrow accounts or similar arrangement to be
applied for such purpose; and 

  

	 	(29)	Liens Incurred with respect to obligations that do not exceed the greater of (A) £250.0 million and (B) 5.0% of Total Assets at any time outstanding. 

“Permitted Revolving Credit Facility” means, one or more debt facilities or arrangements (including, without limitation, the
Senior Credit Facility) that may be entered into by Issuer and the Restricted Subsidiaries providing for revolving credit loans, letters of credit or other revolving Indebtedness or other advances in each case, Incurred in compliance with
Section 4.09. 
 “Person” means any individual, corporation, partnership, joint venture, association, joint-stock
company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision hereof or any other entity. 

“Post-Closing Reorganizations” means the possible reorganization of the Virgin Group by the Ultimate Parent, which is
expected to include: (1) a distribution or other transfer of Virgin Media Communications and its Subsidiaries or a Parent of Virgin Media Communications to the Ultimate Parent or another direct Subsidiary of the Ultimate Parent through one or
more mergers, transfers, consolidations or other similar transactions such that Virgin Media Communications and its Subsidiaries or such Parent will become the direct Subsidiary of the Ultimate Parent or such other direct Subsidiary of the Ultimate
Parent, (2) the issuance by Virgin Media Communications or the Issuer of Capital Stock to the Ultimate Parent or another direct Subsidiary of the Ultimate Parent and, as consideration therefor, the assignment by the Ultimate Parent or a direct
Subsidiary of the Ultimate Parent of a loan receivable to Virgin Media Communications or the Issuer, as the case may be, and/or (3) the insertion of a new entity as a direct Subsidiary of Virgin Media Communications, which new entity will
become a Parent of the Issuer. 
 “Preferred Stock”, as applied to the Capital Stock of any corporation, partnership,
limited liability company or other entity, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or
dissolution of such entity, over shares of Capital Stock of any other class of such entity. 
 “Private Placement Legend”
means the legend set forth in Section 2.07(j)(1) to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 

  
 36 

 “Pro forma EBITDA” means, for any period, the Consolidated EBITDA of the Issuer
and the Restricted Subsidiaries, provided, however, that for the purposes of calculating Pro forma EBITDA for such period, if, as of such date of determination: 
  

	 	(1)	since the beginning of such period the Issuer or any Restricted Subsidiary will have made any Asset Disposition or disposed of any company, any business, or any group of assets constituting an operating unit of a
business (any such disposition, a “Sale”) or if the transaction giving rise to the need to calculate the Consolidated Net Leverage Ratio is such a Sale, Pro forma EBITDA for such period will be reduced by an amount equal to the
Consolidated EBITDA (if positive) attributable to the assets which are the subject of such Sale for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such period; 

 

	 	(2)	since the beginning of such period the Issuer or any Restricted Subsidiary (by merger or otherwise) will have made an Investment in any Person that thereby becomes a Restricted Subsidiary, or otherwise acquires any
company, any business, or any group of assets constituting an operating unit of a business (any such Investment or acquisition, a “Purchase”) including any such Purchase occurring in connection with a transaction causing a calculation to
be made hereunder, Consolidated EBITDA for such period will be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of such period; and 

 

	 	(3)	since the beginning of such period any Person (that became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning of such period) will have made any Sale or any
Purchase that would have required an adjustment pursuant to clause (1) or (2) above if made by the Issuer or a Restricted Subsidiary since the beginning of such period, Consolidated EBITDA for such period will be calculated after giving
pro forma effect thereto as if such Sale or Purchase occurred on the first day of such period. 

 For purposes of this
definition and the definition of Consolidated Net Leverage Ratio, (A) whenever pro forma effect is to be given to any transaction or calculation, the pro forma calculations will be as determined in good faith by a responsible
financial or accounting officer of the Issuer (including without limitation in respect of anticipated expense and cost reductions) including, without limitation, as a result of, or that would result from any actions taken, committed to be taken or
with respect to which substantial steps have been taken, by the Issuer or any Restricted Subsidiary including, without limitation, in connection with any cost reduction synergies or cost savings plan or program or in connection with any transaction,
investment, acquisition, disposition, restructuring, corporate reorganization or otherwise (regardless of whether these cost savings and cost reduction synergies could then be reflected in pro forma financial statements to the extent prepared),
(B) in determining the amount of Indebtedness outstanding on any date of determination, pro forma effect shall be given to any Incurrence, repayment, repurchase, defeasance or other acquisition, retirement or discharge of Indebtedness as
if such transaction had occurred on the first day of the relevant period and (C) interest on any Indebtedness that bears interest at a floating rate and that is being given pro forma effect shall be calculated as if the rate in effect on
the date of calculation had been applicable for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). 

“Public Debt” means any Indebtedness consisting of bonds, debentures, notes or other similar debt securities issued in
(1) a public offering registered under the Securities Act or (2) a private placement to institutional investors that is underwritten for resale in 

  
 37 

 
accordance with Rule 144A or Regulation S under the Securities Act, whether or not it includes registration rights entitling the holders of such debt securities to registration thereof with the
SEC for public resale. The term “Public Debt” (A) shall not include the Notes (or any Additional Notes) and (B) for the avoidance of doubt, shall not be construed to include any Indebtedness issued to institutional investors in a
direct placement of such Indebtedness that is not underwritten by an intermediary (it being understood that, without limiting the foregoing, a financing that is distributed to not more than ten Persons (provided that multiple managed accounts
and affiliates of any such Persons shall be treated as one Person for the purposes of this definition) shall be deemed not to be underwritten), or any Indebtedness under the Senior Credit Facility or a Permitted Revolving Credit Facility, commercial
bank or similar Indebtedness, Capitalized Lease Obligation or recourse transfer of any financial asset or any other type of Indebtedness incurred in a manner not customarily viewed as a “securities offering”. 

“Public Market” means any time after an Equity Offering has been consummated, shares of common stock or other common equity
interests of the IPO Entity having a market value in excess of £75 million on the date of such Equity Offering have been distributed pursuant to such Equity Offering. 

“Public Offering” means any offering, including an Initial Public Offering, of shares of common stock or other common equity
interests that are listed on an exchange or publicly offered (which shall include any offering pursuant to Rule 144A and/or Regulation S under the Securities Act to professional market investors or similar persons). 

“Public Offering Expenses” means expenses Incurred by any Parent in connection with any public offering of Capital
Stock or Indebtedness (whether or not successful): 
  

	 	(1)	where the net proceeds of such offering are intended to be received by or contributed or loaned to the Issuer or a Restricted Subsidiary; or 

 

	 	(2)	in a prorated amount of such expenses in proportion to the amount of such net proceeds intended to be so received, contributed or loaned; or 

 

	 	(3)	otherwise on an interim basis prior to completion of such offering so long as any Parent shall cause the amount of such expenses to be repaid to the Issuer or the relevant Restricted Subsidiary out of the proceeds of
such offering promptly if completed, 

 in each case, to the extent such expenses are not paid by another Subsidiary of such Parent. 

“Purchase Money Note” means a promissory note of a Receivables Entity evidencing the deferred purchase price of Receivables
(and related assets) and/or a line of credit, which may be irrevocable, from the Issuer or any Restricted Subsidiary in connection with a Qualified Receivables Transaction with a Receivables Entity, which deferred purchase price or line is repayable
from cash available to the Receivables Entity, other than amounts required to be established as reserves pursuant to agreements, amounts paid to investors in respect of interest, principal and other amounts owing to such investors and amounts owing
to such investors and amounts paid in connection with the purchase of newly generated Receivables. 
 “Purchase Money
Obligations” means any Indebtedness Incurred to finance or refinance the acquisition, leasing, construction or improvement of property (real or personal) or assets (including Capital Stock), and whether acquired through the direct
acquisition of such property or assets or the acquisition of the Capital Stock of any Person owning such property or assets, or otherwise. 

  
 38 

 “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

 “Qualified Receivables Transaction” means any transaction or series of transactions that may be entered into by the
Issuer or any of the Restricted Subsidiaries pursuant to which the Issuer or any of the Restricted Subsidiaries may sell, convey or otherwise transfer to (1) a Receivables Entity (in the case of a transfer by the Issuer or any of the Restricted
Subsidiaries) and (2) any other Person (in the case of a transfer by a Receivables Entity), or may grant a security interest in, any Receivables (whether now existing or arising in the future) of the Issuer or any of the Restricted
Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such Receivables, all contracts and all guarantees or other obligations in respect of such accounts receivable, the proceeds of such Receivables and
other assets which are customarily transferred, or in respect of which security interests are customarily granted, in connection with asset securitization involving Receivables. 

“Receivable” means a right to receive payment arising from a sale or lease of goods or the performance of services by a
Person pursuant to an arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any items
of property that would be classified as an “account”, “chattel paper”, “payment intangible” or “instrument” under the Uniform Commercial Code as in effect in the State of New York and any “supporting
obligations” as so defined. 
 “Receivables Entity” means a Wholly Owned Subsidiary of the Issuer (or another Person
in which the Issuer or any Restricted Subsidiary makes an Investment and to which the Issuer or any Restricted Subsidiary transfers Receivables and related assets) which engages in no activities other than in connection with the financing of
Receivables and which is designated by the Board of Directors of the Issuer (as provided below) as a Receivables Entity: 
  

	 	(1)	no portion of the Indebtedness or any other obligations (contingent or otherwise) of which: 

  

	 	(A)	is guaranteed by the Issuer or any Restricted Subsidiary (excluding guarantees of Obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings);

  

	 	(B)	is recourse to or obligates the Issuer or any Restricted Subsidiary in any way other than pursuant to Standard Securitization Undertakings; or 

 

	 	(C)	subjects any property or asset of the Issuer or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings;

  

	 	(2)	with which neither the Issuer nor any Restricted Subsidiary has any material contract, agreement, arrangement or understanding (except in connection with a Purchase Money Note or Qualified Receivables Transaction) other
than on terms no less favorable to the Issuer or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuer, other than fees payable in the ordinary course of business in connection
with servicing Receivables; and 

  

	 	(3)	to which neither the Issuer nor any Restricted Subsidiary has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results.

  
 39 

 Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by
promptly filing with the Trustee a certified copy of the resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing conditions.

 “Redemption Date” means, when used with respect to any Note to be redeemed pursuant to this Indenture, the date fixed
for such redemption. 
 “Refinancing Indebtedness” means Indebtedness that is Incurred to refund, refinance, replace,
exchange, renew, repay or extend (including pursuant to any defeasance or discharge mechanism) (collectively, “refinance”, “refinances”, and “refinanced” shall have a correlative meaning) any Indebtedness existing on
the Issue Date or Incurred in compliance with this Indenture (including Indebtedness of the Issuer that refinances Indebtedness of any Restricted Subsidiary and Indebtedness of any Restricted Subsidiary that refinances Indebtedness of another
Restricted Subsidiary) including Indebtedness that refinances Refinancing Indebtedness, including successive refinancings, provided, however, that: 
  

	 	(1)	if the Indebtedness being refinanced constitutes Subordinated Obligations (A) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being refinanced or (B) if the Stated Maturity of the Indebtedness being refinanced is later than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity later than the Stated Maturity of the Notes; 

  

	 	(2)	such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original issue discount, an aggregate issue price) that is equal to or less than the sum of the aggregate principal amount
(or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced plus an amount to pay any interest, fees, expenses, premiums and defeasance costs, Incurred in connection therewith; and

  

	 	(3)	if the Indebtedness being refinanced constitutes Subordinated Obligations, such Refinancing Indebtedness is subordinated in right of payment to the Notes on terms at least as favorable to the Holders as those contained
in the documentation governing the Indebtedness being refinanced. 

 Refinancing Indebtedness in respect of any Credit
Facility or any other Indebtedness may be Incurred from time to time after the termination, discharge or repayment of all or any part of any such Credit Facility or other Indebtedness. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means one or more of the Dollar Regulation S Global Note and the Euro Regulation S Global Note.

 “Regulation S Permanent Global Note” means a Dollar Regulation S Permanent Global Note and/or a Euro Regulation S
Permanent Global Note, as appropriate. 

  
 40 

 “Regulation S Temporary Global Note” means a Dollar Regulation S Temporary
Global Note and/or a Euro Regulation S Temporary Global Note, as appropriate. 
 “Regulation S Temporary Global Note
Legend” means the legend set forth in Section 2.07(j)(3) to be placed on all Regulation S Temporary Global Notes issued under this Indenture. 

“Related Business” means any business that is the same as or related, ancillary or complementary to any of the businesses of
the Issuer and the Restricted Subsidiaries on the Issue Date. 
 “Related Person” with respect to any Permitted Holder,
means: 
  

	 	(1)	any controlling equity holder or majority (or more) owned Subsidiary of such Permitted Holder; 

  

	 	(2)	in the case of an individual, any spouse, family member or relative of such individual, any trust or partnership for the benefit of one or more of such individual and any such spouse, family member or relative, or the
estate, executor, administrator, committee or beneficiaries of any thereof; or 

  

	 	(3)	any trust, corporation, partnership or other Person for which one or more of the Permitted Holders and other Related Persons of any thereof constitute the beneficiaries, stockholders, partners or owners thereof, or
Persons beneficially holding in the aggregate a majority (or more) controlling interest therein. 

 “Related
Taxes” means: 
  

	 	(1)	any taxes, including but not limited to sales, use, transfer, rental, ad valorem, value added, stamp, property, consumption, franchise, license, capital, registration, business, customs, net worth, gross receipts,
excise, occupancy, intangibles or similar taxes (other than (x) taxes measured by income and (y) withholding imposed on payments made by any Parent), required to be paid by any Parent by virtue of its: 

 

	 	(A)	being organized or having Capital Stock outstanding (but not by virtue of owning stock or other equity interests of any corporation or other entity other than the Issuer or any of the Issuer’s Subsidiaries), or

  

	 	(B)	being a holding company parent of the Issuer or any of the Issuer’s Subsidiaries, or 

  

	 	(C)	receiving dividends from or other distributions in respect of the Capital Stock of the Issuer, or any of the Issuer’s Subsidiaries, or 

 

	 	(D)	having guaranteed any obligations of the Issuer or any Subsidiary of the Issuer, or 

  

	 	(E)	having made any payment in respect to any of the items for which the Issuer is permitted to make payments to any Parent pursuant to Section 4.07, 

in each case, to the extent such taxes are not paid by another Subsidiary or such Parent; or 

  
 41 

	 	(2)	any taxes measured by income for which any Parent is liable up to an amount not to exceed with respect to such taxes the amount of any such taxes that the Issuer and its Subsidiaries would have been required to pay on a
separate company basis or on a consolidated basis if the Issuer and its Subsidiaries had paid tax on a consolidated, combined, group, affiliated or unitary basis on behalf of an affiliated group consisting only of the Issuer and its Subsidiaries and
any taxes imposed by way of withholding on payments made by one Parent to another Parent on any financing that is provided, directly or indirectly in relation to the Issuer and its Subsidiaries (reduced by any taxes measured by income actually paid
by the Issuer and its Subsidiaries). 

 “Released Entity” means any Parent that ceases to be a Parent of
Virgin Media Communications following a Post-Closing Reorganization. 
 “Representative” means any trustee, agent or
representative (if any) for an issue of Senior Indebtedness or the provider of Senior Indebtedness (if provided on a bilateral basis), as the case may be. 

“Responsible Officer”, when used with respect to the Trustee, means any officer within the Corporate Trust Administration of
the Trustee (or any successor group of the Trustee) including any vice president, assistant vice president, assistant treasurer, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above
designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 

“Restricted Definitive Registered Note” means a Definitive Registered Note bearing the Private Placement Legend. 

“Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

“Restricted Investment” means any Investment other than a Permitted Investment. 

“Restricted Period” means the 40-day distribution compliance period as defined in Regulation S. 

“Restricted Subsidiary” means any Subsidiary of the Issuer, together with ntl Glasgow and ntl Kirklees, other than an
Unrestricted Subsidiary. 
 “Revolving Facility Excluded Amount” means the greater of (1) £500,000,000
(or its equivalent in other currencies) and (2) 0.25 multiplied by the Pro forma EBITDA of the Issuer and the Restricted Subsidiaries on a Consolidated basis for the period of the most recent two consecutive fiscal quarters for which financial
statements have previously been furnished to Holders pursuant to Section 4.03, multiplied by 2.0. 
 “Rule 144”
means Rule 144 promulgated under the Securities Act. 
 “Rule 144A” means Rule 144A promulgated under the Securities Act.

 “Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

  
 42 

 “SEC” means the United States Securities and Exchange Commission. 

“Secured Indebtedness” means any Indebtedness of any Person secured by a Lien. 

“Securities Act” means the United States Securities Act of 1933, as amended. 

“Senior Credit Facility” means the senior facility agreement dated as of June 7, 2013, between, among others, VMIH and
certain financial institutions as lenders thereunder, as amended or supplemented from time to time. 
 “Senior
Indebtedness” means, whether outstanding on the Issue Date or thereafter Incurred, all amounts payable by, under or in respect of all other Indebtedness of the Issuer or any other Guarantor, including premiums and accrued and unpaid
interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Issuer or such other Guarantor at the rate specified in the documentation with respect thereto whether or not a claim
for post filing interest is allowed in such proceeding) and fees relating thereto; provided, however, that Senior Indebtedness will not include: 
  

	 	(1)	any Indebtedness Incurred in violation of this Indenture; 

  

	 	(2)	any obligation of the Issuer to any Restricted Subsidiary or any obligation of any Guarantor to the Issuer or any Restricted Subsidiary; 

 

	 	(3)	any liability for taxes owed or owing by the Issuer or any Restricted Subsidiary; 

  

	 	(4)	any accounts payable or other liability to trade creditors arising in the ordinary course of business (including guarantees thereof or instruments evidencing such liabilities); 

 

	 	(5)	any Indebtedness, guarantee or obligation of the Issuer or any other Guarantor that is expressly subordinate or junior in right of payment to any other Indebtedness, guarantee or obligation of the Issuer or such other
Guarantor, including, without limitation, any Subordinated Obligation; or 

  

	 	(6)	any Capital Stock. 

 “Senior Lenders” means a bank or financial institution or
other person which has become a party to the Group Intercreditor Deed as a Senior Lender, in accordance with the applicable provisions thereof. 

“Senior Liabilities” means all present and future obligations and liabilities of the obligors to the parties identified in
the Group Intercreditor Deed. 
 “Senior Secured Notes” means £300 million aggregate principal amount of 5 1⁄8% Senior Secured Notes due 2025, issued by Virgin Media Secured Finance on the Issue Date. 

“Senior Secured Notes Indenture” means the indenture governing the Senior Secured Notes to be dated as of the Issue Date,
between, among others, Virgin Media Secured Finance and The Bank of New York Mellon, London Branch, as trustee, as amended or supplemented from time to time. 

“Senior Subordinated Indebtedness” of a Subsidiary Guarantor means any Indebtedness of such Subsidiary Guarantor that
specifically provides that such Indebtedness is to rank equally with the Subsidiary Guarantee of such Subsidiary Guarantor in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of such
Subsidiary Guarantor which is not Senior Indebtedness. 

  
 43 

 “Significant Subsidiary” means any Restricted Subsidiary which, together with
the Restricted Subsidiaries of such Restricted Subsidiary, accounted for more than 10.0% of the Total Assets of the Issuer for the most recently completed fiscal year. 

“Specified Legal Expenses” means, to the extent not constituting an extraordinary, non-recurring or unusual loss, charge or
expense, all attorneys’ and experts’ fees and expenses and all other costs, liabilities (including all damages, penalties, fines and indemnification and settlement payments) and expenses paid or payable in connection with any threatened,
pending, completed or future claim, demand, action, suit, proceeding, inquiry or investigation (whether civil, criminal, administrative, governmental or investigative). 

“Spin-Off” means a transaction by which all outstanding ordinary shares of Virgin Media Communications or a Parent of Virgin
Media Communications directly or indirectly owned by the Ultimate Parent are distributed to all of the Ultimate Parent’s shareholders either directly or indirectly through the distribution of shares in a company holding Virgin Media
Communications’ shares or Parent’s shares. 
 “Spin Parent” means the company the shares of which are distributed
to the shareholders of the Ultimate Parent pursuant to the Spin-Off. 
 “Standard Securitization Undertakings” means
representations, warranties, covenants and indemnities entered into by the Issuer or any Restricted Subsidiary which are reasonably customary in securitization of Receivables transactions. 

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the
payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such principal prior to the date originally
scheduled for the payment thereof. 
 “sterling” or “£” means the lawful currency of the United
Kingdom. 
 “Sterling Equivalent” means with respect to any monetary amount in a currency other than sterling, at any time
of determination thereof, the amount of sterling obtained by converting such foreign currency involved in such computation into sterling at the average of the spot rates for the purchase and sale of sterling with the applicable foreign currency as
quoted on or recorded in any recognized source of foreign exchange rates at least two Business Days (but not more than five Business Days) prior to such determination. 

“Subordinated Obligation” means, in the case of the Issuer, any Indebtedness of the Issuer (whether outstanding on the Issue
Date or thereafter Incurred) which is expressly subordinate or junior in right of payment to the Notes pursuant to a written agreement and, in the case of a Guarantor, any Indebtedness of such Guarantor (whether outstanding on the Issue Date or
thereafter Incurred) which is expressly subordinate or junior in right of payment to the Note Guarantee of such Guarantor pursuant to a written agreement. 

“Subordinated Shareholder Loans” means Indebtedness of the Issuer (and any security into which such Indebtedness, other than
Capital Stock, is convertible or for which it is exchangeable at the option of the holder) issued to and held by any Affiliate (other than a Restricted Subsidiary) that (either pursuant to its terms or pursuant to an agreement with respect thereto):

  

	 	(1)	does not mature or require any amortization, redemption or other repayment of principal or any sinking fund payment prior to the first anniversary of the Stated Maturity of the Notes (other than through conversion or
exchange of such Indebtedness into Capital Stock (other than Disqualified Stock) of the Issuer or any Indebtedness meeting the requirements of this definition); 

  
 44 

	 	(2)	does not require, prior to the first anniversary of the Stated Maturity of the Notes, payment of cash interest, cash withholding amounts or other cash gross-ups, or any similar cash amounts; 

 

	 	(3)	contains no change of control or similar provisions that are effective, and does not accelerate and has no right to declare a default or event of default or take any enforcement action or otherwise require any cash
payment prior to the first anniversary of the Stated Maturity or the Notes; 

  

	 	(4)	does not provide for or require any security interest or encumbrance over any asset of the Issuer or any of the Restricted Subsidiaries; 

 

	 	(5)	is subordinated in right of payment to the prior payment in full of the Notes in the event of (A) a total or partial liquidation, dissolution or winding up of the Issuer, (B) a bankruptcy, reorganization,
insolvency, receivership or similar proceeding relating to the Issuer or its property, (C) an assignment for the benefit of creditors or (D) any marshalling of the Issuer’s assets and liabilities; 

 

	 	(6)	under which the Issuer may not make any payment or distribution of any kind or character with respect to any obligations on, or relating to, such Subordinated Shareholder Loans if (A) a payment Default on the Notes
occurs and is continuing or (B) any other Default under this Indenture occurs and is continuing on the Notes that permits the Holders to accelerate their maturity and the Issuer receives notice of such Default from the requisite Holders, until
in each case the earliest of (i) the date on which such Default is cured or waived or (ii) 180 days from the date such Default occurs (and only once such notice may be given during any 360 day period); and 

 

	 	(7)	under which, if the holder of such Subordinated Shareholder Loans receives a payment or distribution with respect to such Subordinated Shareholder Loan (A) other than in accordance with this Indenture or as a
result of a mandatory requirement of applicable law or (B) under circumstances described under clauses (5)(A) through (D) above, such Holder will forthwith pay all such amounts to the Trustee to be held in trust for application in
accordance with this Indenture. 

 “Subsidiary” of any Person means (1) any corporation, association or
other business entity (other than a partnership, joint venture, limited liability company or similar entity) of which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers or trustees thereof (or Persons performing similar functions) or (2) any partnership, joint venture limited liability company or similar entity of which more than 50% of the capital
accounts, distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, is, in the case of clauses (1) and (2), at the time owned or controlled, directly or indirectly, by (A) such
Person, (B) such Person and one or more Subsidiaries of such Person or (C) one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a Subsidiary will refer to a Subsidiary of the Issuer. 

  
 45 

 “Subsidiary Guarantors” means VMIH and VMIL together with any Person that
becomes a Subsidiary Guarantor after the Issue Date pursuant to the terms of this Indenture, in each case, until the Note Guarantee of such Person has been released in accordance with the provisions of this Indenture. 

“Successor Reporting Entity” means any successor to the Ultimate Parent or any Parent of the Issuer that files an Annual
Report on Form 10-K with the SEC. 
 “Tax Sharing Agreement” means the tax cooperation agreement entered into with effect
as of the 3rd day of March, 2006, by and between (1) Virgin Media and (2) VMIH and Telewest Communications Networks Limited, as amended or supplemented from time to time. 

“TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb). 

“Total Assets” means the Consolidated total assets of the Issuer and the Restricted Subsidiaries as shown on the most recent
balance sheet (excluding the footnotes thereto) of the Issuer (and, in the case of any determination relating to any Incurrence of Indebtedness or any Restricted Payment, on a pro forma basis including any property or assets being acquired in
connection therewith). 
 “Trade Payables” means, with respect to any Person, any accounts payable or an Indebtedness or
monetary obligation to trade creditors created, assumed or guaranteed by such Person arising in the ordinary course of business in connection with the acquisition of goods or services. 

“Treasury Rate” means the yield to maturity at the time of computation of U.S. Treasury securities with a constant maturity
(as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available on a day no earlier than two Business Days prior to the date of the delivery of the redemption notice in respect of
such Redemption Date (or, if such statistical release is not so published or available, any publicly available source of similar market date selected by the Issuer in good faith)) most nearly equal to the period from the Redemption Date to
January 15, 2020; provided, however, that if the period from the Redemption Date to January 15, 2020 is not equal to the constant maturity of a U.S. Treasury security for which a weekly average yield is given, the Treasury Rate shall be
obtained by a linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields to U.S. Treasury securities for which such yields are given, except that if the period from the Redemption Date to January 15,
2020 is less than one year, the weekly average yield on actually traded U.S. Treasury securities adjusted to a constant maturity of one year shall be used. 

“Trustee” means The Bank of New York Mellon, London Branch, until a successor replaces it in accordance with the applicable
provisions of this Indenture and thereafter means the successor serving hereunder. 
 “Ultimate Parent” means Liberty
Global plc and any and all successors thereto. 
 “Unrestricted Global Note” means a Global Note that does not bear and is
not required to bear the Private Placement Legend. 
 “Unrestricted Subsidiary” means: 

 

	 	(1)	any Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors of the Issuer in the manner provided below; and 

 

	 	(2)	any Subsidiary of an Unrestricted Subsidiary. 

  
 46 

 The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any
newly acquired or newly formed Subsidiary or a Person becoming a Subsidiary through merger or consolidation or Investment therein) to be an Unrestricted Subsidiary only if: 
  

	 	(A)	such Subsidiary or any of its Subsidiaries does not own any Capital Stock or Indebtedness of or have any Investment in, or own or hold any Lien on any property of, any other Subsidiary of the Issuer which is not a
Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary; and 

  

	 	(B)	such designation and the Investment of the Issuer in such Subsidiary complies with Section 4.07. 

Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a
resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complies with the foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail
to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed to be Incurred as of such date. 

The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that immediately
after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof and either (1) the Issuer could Incur at least £1.00 of additional Indebtedness under
Section 4.09(a) or (2) the Consolidated Net Leverage Ratio would be no greater than it was immediately prior to giving effect to such designation, in each case, on a pro forma basis taking into account such designation. 

“UPC Ireland Acquisition” means the acquisition of UPC Broadband Ireland Ltd (or its successor) and its Subsidiaries. 

“U.S. Government Obligations” means direct obligations of, or obligations guaranteed by, the United States of America, and
the payment for which the United States pledges its full faith and credit. 
 “U.S. Person” means a U.S. Person as defined
in Rule 902(k) promulgated under the Securities Act. 
 “Virgin Group” means Virgin Media and its Subsidiaries. 

“Virgin Media” means Virgin Media Inc., an indirect parent company of the Issuer, together with its successors (by
merger, consolidation, transfer, conversion of legal form or otherwise). 
 “Virgin Media Communications” means Virgin
Media Communications Limited, a company incorporated under the laws of England and Wales, together with its successors (by merger, consolidation, transfer, conversion of legal form or otherwise). 

“Virgin Media Holding Company” means any Person of which the Issuer is a direct or indirect Wholly Owned Subsidiary. 

  
 47 

 “Virgin Reporting Entity” means to Virgin Media, or following such election in
accordance with Section 4.03(d), the Issuer or another Parent of the Issuer. 
 “Virgin Media Secured Finance” means
to Virgin Media Secured Finance PLC, a public limited company incorporated under the laws of England and Wales, together with its successors (by merger, consolidation, transfer, conversion of legal form or otherwise). 

“VMIH” refers to Virgin Media Investment Holdings Limited, a direct wholly owned subsidiary of the Issuer, together with its
successors (by merger, consolidation, transfer, conversion of legal form or otherwise). 
 “VMIL” refers to Virgin Media
Investments Limited, a direct wholly owned subsidiary of VMIH, together with its successors (by merger, consolidation, transfer, conversion of legal form or otherwise). 

“Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote
in the election of directors. 
 “Wholly Owned Subsidiary” means (1) in respect of any Person, a Person, all of the
Capital Stock of which (other than directors’ qualifying shares or an immaterial amount of shares required to be owned by other Persons pursuant to applicable law, regulation or to ensure limited liability) is owned by that Person directly or
(2) indirectly by a Person that satisfies the requirements of clause (1). 
 “Written Instructions” means any written
notices, directions or instructions (including, for the avoidance of doubt, by Electronic Means) received by the Agents from an Authorized Person or from a person reasonably believed by the Agents to be an Authorized Person. 

Section 1.02 Other Definitions. 
  

			
	Term	  	Defined in
Section
		
	“Additional Amounts”	  	4.18
		
	“Affiliate Transaction”	  	4.11
		
	“Asset Disposition Offer”	  	3.12
		
	“Asset Disposition Offer Amount”	  	3.12
		
	“Asset Disposition Offer Period”	  	3.12
		
	“Asset Disposition Purchase Date”	  	3.12
		
	“Authentication Order”	  	2.02
		
	“Bankruptcy Provisions”	  	6.01
		
	“Change in Tax Law”	  	3.11
		
	“Change of Control Offer”	  	4.14
		
	“Change of Control Purchase Price”	  	4.14

  
 48 

			
	Term	  	Defined in
Section
		
	“Change of Control Purchase Date”	  	4.14
		
	“Covenant Defeasance”	  	8.03
		
	“cross acceleration provision	  	6.01
		
	“Event of Default”	  	6.01
		
	“Excess Proceeds”	  	4.10
		
	“Investment Grade Status Period”	  	4.19
		
	“judgment default provision”	  	6.01
		
	“Legal Defeasance”	  	8.02
		
	“Other Asset Disposition Indebtedness”	  	3.12
		
	“Paying Agent”	  	2.03
		
	“payment default”	  	6.01
		
	“Payor”	  	4.18
		
	“Principal Paying Agent”	  	2.03
		
	“Register”	  	2.03
		
	“Registered Agent”	  	12.09
		
	“Registrar”	  	2.03
		
	“Regular Record Date”	  	2.04
		
	“Release”	  	3.08
		
	“Reinstatement Date”	  	4.19
		
	“Relevant Taxing Jurisdiction”	  	4.18
		
	“Special Optional Redemption”	  	3.08
		
	“Successor Company”	  	5.01
		
	“Taxes”	  	4.18
		
	“Tax Redemption Date”	  	3.11
		
	“Transfer Agent”	  	2.03

  
 49 

 Section 1.03 Incorporation by Reference of Trust Indenture Act 

Whenever this Indenture refers to a provision of the TIA, the provision (but only such provision) is incorporated by reference in and made a
part of this Indenture as if this Indenture was required to be qualified under the TIA, and the mandatory provisions of the TIA that are required to govern indentures qualified under the TIA shall not be incorporated by reference herein unless
specifically referred to herein. 
 The following TIA terms used in this Indenture have the following meanings: 

(1) “indenture securities” means the Notes; 

(2) “indenture security Holder” means a Holder of a Note; 

(3) “indenture to be qualified” means this Indenture; 

(4) “indenture trustee” or “institutional trustee” means the Trustee; and 

(5) “obligor” on the Notes means the Issuer and any successor obligor on the Notes. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA have the meanings so assigned to them in this Indenture. 
 Section 1.04 Rules of Construction 

Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) “will” shall be interpreted to express a command; 

(6) provisions apply to successive events and transactions; and 

(7) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of successor
sections or rules adopted by the SEC from time to time. 
 ARTICLE 2. 

THE NOTES 
 Section 2.01
Form and Dating 
 (a) Global Notes. The Dollar Notes offered and sold in reliance on Rule 144A shall be issued initially in
the form of a Dollar 144A Global Note, duly executed by the Issuer, and authenticated by the Trustee as hereinafter provided. Dollar Notes offered and sold in reliance on Regulation S shall be issued initially in the form of the Dollar Regulation S
Temporary Global Note, duly executed by the Issuer and authenticated by the Trustee as 

  
 50 

 
hereinafter provided. The Euro Notes offered and sold in reliance on Rule 144A shall be issued initially in the form of a Euro 144A Global Note, duly executed by the Issuer, and authenticated by
the Trustee as hereinafter provided. Euro Notes offered and sold in reliance on Regulation S shall be issued initially in the form of the Euro Regulation S Temporary Global Note, duly executed by the Issuer and authenticated by the Trustee as
hereinafter provided. Each Regulation S Permanent Global Note that is issued in exchange for a Regulation S Temporary Global Note pursuant to Section 2.02(b) hereof shall be duly executed by the Issuer, and authenticated by the Trustee as
hereinafter provided. Each Global Note shall represent such aggregate principal amount of the outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Notes from
time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, by the Trustee, the Registrar or the Principal Paying Agent to reflect
exchanges, repurchases, redemptions and transfers of interests therein, in accordance with the terms of this Indenture. 
 The terms and
provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and the Issuer and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be
bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

Ownership of interests in the Global Notes will be limited to Participants and Indirect Participants. Book-Entry Interests in the Global Notes
will be shown on, and transfers thereof will be effected only through, records maintained in book-entry form by the Depositary and its Participants. The Applicable Procedures shall be applicable to Book-Entry Interests in Global Notes. 

Except as set forth in Section 2.07(a), the Global Notes may be transferred, in whole and not in part, only to a nominee or a successor
of the Depositary. 
 (b) Temporary Global Notes. On the first day following expiry of the Restricted Period, beneficial interests in
the Regulation S Temporary Global Notes will be exchanged by the Trustee, with no further action by the Issuer, for beneficial interests in a duly authenticated Regulation S Permanent Global Notes. Simultaneously with the authentication of each
Regulation S Permanent Global Note, the Trustee will cancel each Regulation S Temporary Global Note. The aggregate principal amount of each Regulation S Temporary Global Note and each Regulation S Permanent Global Note may from time to time be
increased or decreased by adjustments made on the records of the Trustee (or Registrar) and the Depositary or its nominee, as the case may be, in connection with transfers of interests hereinafter provided. 

(c) Definitive Registered Notes. Definitive Registered Notes issued upon transfer of a Book-Entry Interest or a Definitive Registered
Note, or in exchange for a Book-Entry Interest or a Definitive Registered Note, shall be issued in accordance with this Indenture. 
 (d)
Book-Entry Provisions. Neither Participants nor Indirect Participants shall have any rights either under this Indenture or under any Global Note held on their behalf by a Depositary. Notwithstanding the foregoing, nothing herein shall prevent
the Issuer, the Trustee or any Agent from giving effect to any written certification, proxy or other authorization furnished by a Depositary or impair, as between a Depositary and its Participants, the operation of customary practices of such
Depositary governing the exercise of the rights of an owner of a beneficial interest in any Global Note. 
 (e) Note Forms. The
Global Notes and the Definitive Registered Notes shall be issuable only in registered form, substantially in the forms set forth as Exhibit A and Exhibit B 

  
 51 

 
hereto, respectively. The Dollar Notes shall be issued only in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof, and the Euro Notes shall be issued only in
minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof. 
 (f) Additional Notes. Subject to
the restrictions contained in Section 4.09, from time to time after the Issue Date the Issuer may issue Additional Notes under this Indenture. Any Additional Notes issued as provided for herein will be treated as a single class and as part of
the same series as the Initial Notes for all purposes (including voting) under this Indenture. 
 (g) Dating. Each Note shall be
dated the date of its authentication. 
 Section 2.02 Execution and Authentication 

At least one Officer of the Issuer must sign the Notes for the Issuer by manual or facsimile signature. 

If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated or at any time thereafter, the Note
will nevertheless be valid. 
 A Note will not be valid until authenticated by the manual signature of the Authenticating Agent. The
signature will be conclusive evidence that the Note has been authenticated under this Indenture. 
 The Authenticating Agent shall
authenticate the Dollar Notes on the Issue Date in an aggregate principal amount of $400,000,000 and the Euro Notes on the Issue Date in an aggregate principal amount of €460,000,000 upon receipt of an authentication order signed by at least
one Officer of the Issuer directing the Authenticating Agent to authenticate the Notes and certifying that all conditions precedent to the issuance of the Notes contained herein have been complied with (an “Authentication Order”).
The Authenticating Agent shall authenticate Additional Notes upon receipt of an Authentication Order relating thereto. Each Note shall be dated the date of its authentication. 

The Trustee may authenticate Notes as the Issuer’s Authenticating Agent. The Trustee may appoint an additional Authenticating Agent or
Agents acceptable to the Issuer to authenticate Notes. Unless limited by the terms of such appointment, an Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee
includes authentication by such Authenticating Agent. Such Authenticating Agent shall have the same rights as the Trustee in any dealings hereunder with any of the Issuer’s Affiliates. 

Notes authenticated by an Authenticating Agent shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all
purposes as if authenticated hereunder by the Trustee, and every reference in this Indenture to the authentication and delivery of Notes by the Trustee or the Trustee’s certificate of authentication shall be deemed to include authentication and
delivery on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be subject to acceptance by the Issuer and shall at all times be a corporation organized and doing business under, or licensed to do business pursuant to,
the laws of the United States of America (including any State thereof or the District of Columbia) or a jurisdiction in the European Union and authorized under such laws to act as Authenticating Agent, subject to supervision or examination by
governmental authorities, if applicable. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 2.02, such Authenticating Agent shall resign immediately in the manner and with the
effect specified in this Section 2.02. 

  
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 Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation resulting from any merger, conversion or consolidation to which such
Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent; provided that such
corporation shall be otherwise eligible under this Section 2.02, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent may resign at any time by giving written notice of resignation to the Trustee and the Issuer. Each of the Trustee and
the Issuer may at any time terminate the agency of an Authenticating Agent by giving written notice of the termination to that Authenticating Agent and the Issuer or the Trustee, as the case may be. Upon receiving such a notice of resignation or
upon such a termination, or in case at any time any Authenticating Agent ceases to be eligible in accordance with the provisions of this Section 2.02, the Trustee may appoint a successor Authenticating Agent acceptable to the Issuer. Any
successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all of the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No
successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 2.02. 
 The Issuer agrees to
pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section 2.02. 
 If an
Authenticating Agent is appointed with respect to the Notes pursuant to this Section 2.02, the Notes may have endorsed thereon, in addition to or in lieu of the Trustee’s certification of authentication, an alternative certificate of
authentication in the following form: 
 “This is one of the Notes referred to in the within-mentioned Indenture. 

 

							
	 [NAME OF AUTHENTICATING AGENT], as Authenticating Agent

				
			By:		  
		Authorized Signatory”

 Section 2.03 Registrar and Paying Agent 

The Issuer will maintain one or more paying agents (each, a “Paying Agent”) for the Notes in each of (a) London (the
“Principal Paying Agent”) and (b) the Borough of Manhattan, City of New York. If, after the Issue Date, the Principal Paying Agent becomes obliged to withhold or deduct tax in connection with any payment made by it in relation
to the Notes, the Issuer will also maintain such office or agency in another member state of the European Union (including any country which becomes a member state of the European Union after the Issue Date) that is not obliged to withhold or deduct
tax pursuant to European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the European Council of Economics and Finance Ministers (“ECOFIN”) meeting of November 26-27, 2000 or any law
implementing or complying with, or introduced in order to conform to, such Directive. 
 The Issuer will also maintain one or more
registrars (each, a “Registrar”) for so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted for trading on the Euro MTF and the rules of the Luxembourg Stock Exchange so require. The
Issuer will also maintain a transfer agent (each, a “Transfer Agent”). The initial Registrar and Transfer Agent with respect to the Euro Notes will be The Bank of New York Mellon (Luxembourg) S.A. The initial Registrar and Transfer
Agent with respect to the Dollar Notes will be The Bank of New York Mellon. The Registrar will maintain a register (the 

  
 53 

 
“Register”) on behalf of the Issuer for so long as the Euro Notes or the Dollar Notes, as the case may be, remain outstanding reflecting ownership of Definitive Registered Notes
outstanding from time to time. The Paying Agents will make payments on and the Transfer Agents will facilitate transfer of, Definitive Registered Notes on behalf of the Issuer. In the event that the Notes are no longer listed, the Issuer or its
agent will maintain a register reflecting ownership of the Notes. 
 The parties hereto acknowledge that the Issuer has appointed
(a) The Bank of New York Mellon, London Branch, as the Principal Paying Agent, and the Issuer acknowledges that The Bank of New York Mellon, London Branch, has accepted such appointment; and (b) The Bank of New York Mellon, as initial
Paying Agent with respect to the Dollar Notes, and the Issuer acknowledges that The Bank of New York Mellon has accepted such appointment. In addition, the Issuer has appointed The Bank of New York Mellon (Luxembourg) S.A., as initial Transfer Agent
and Registrar with respect to the Euro Notes, and acknowledges that The Bank of New York Mellon (Luxembourg) S.A. has accepted such appointment. So long as The Bank of New York Mellon, London Branch, The Bank of New York Mellon and The Bank of New
York Mellon (Luxembourg) S.A. serve in such capacities, Section 7.07 shall apply to them as if they were Trustee hereunder. 
 The
Issuer may appoint one or more additional Paying Agents and the term “Paying Agent” shall include any such additional Paying Agent, as applicable. Upon notice to the Trustee, the Issuer may change any Paying Agent, Registrar or
Transfer Agent and the Issuer may act as the Paying Agent; provided, however, that in no event may the Issuer act as Principal Paying Agent or appoint a Principal Paying Agent in any member state of the European Union where the Principal
Paying Agent would be obliged to withhold or deduct tax in connection with any payment made by it in relation to the Notes unless the Principal Paying Agent would be so obliged if it were located in all other member states. 

The Issuer shall notify the Trustee of the name and address of any Agent appointed after the Issue Date. If the Issuer fails to maintain a
Registrar or a Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such and shall be entitled to appropriate compensation in accordance with Section 7.07. 

Any Notice to be given under this Indenture or under the Notes by the Trustee or the Issuer to the Holders shall be mailed by first-class mail
to each Holder at their address as it appears at the time of such mailing in the Register. 
 Section 2.04 Holders to Be Treated as Owners; Payments
of Interest 
 (a) Except as otherwise ordered by a court of competent jurisdiction or required by applicable law, the Issuer, the Paying
Agents, the Registrar, the Trustee and any agent of the Issuer, any Paying Agent, the Registrar or the Trustee shall deem and treat the Holder as the absolute owner of such Note for the purpose of receiving payment of or on account of the principal,
premium or interest on such Note and for all other purposes; and neither the Issuer, any Paying Agent, the Registrar, the Trustee nor any agent of the Issuer, any Paying Agent, the Registrar or the Trustee shall be affected by any notice to the
contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effective to satisfy and discharge the liability for moneys payable upon any Note. 

(b) Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or the Agents from giving effect to any written
certification, proxy or other authorization furnished to the Depositary or impair, as between the Depositary, its nominees, the Participants or any other person, the operation of customary practices of such persons governing the exercise of the
rights of a Holder. 

  
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 (c) A Holder at the close of business on any Regular Record Date with respect to any Interest
Payment Date shall be entitled to receive the interest payable on such Interest Payment Date notwithstanding any transfer or exchange of such Note subsequent to the Regular Record Date and prior to such Interest Payment Date, except if and to the
extent the Issuer shall default in the payment of the interest due on such Interest Payment Date, in which case such defaulted interest shall be paid in accordance with Section 2.13. The term “Regular Record Date” as used with
respect to any Interest Payment Date for the Notes shall mean the date specified as such in the Notes. 
 Section 2.05 Paying Agent to Hold
Money 
 Each Paying Agent shall hold for the benefit of the Holders or the Trustee all money received by the Paying Agent for the
payment of principal, premium, interest or Additional Amounts on the Notes (whether such money has been paid to it by the Issuer or any other obligor on the Notes), and the Issuer and the Paying Agent shall notify the Trustee of any Default by the
Issuer (or any other obligor on the Notes) in making any such payment. Money held in trust by a Paying Agent need not be segregated (other than when the Issuer acts as a Paying Agent), except as required by law, and in no event shall any Paying
Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require each Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may, if such a Default has
occurred and is continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, the relevant Paying Agent shall have no further liability for the money
delivered to the Trustee. 
 Section 2.06 Holder Lists 

The Trustee, on behalf of the Issuer, will preserve in as current a form as is reasonably practicable the most recent list available to it of
the names and addresses of all Holders. If the Trustee is not the Registrar and the Registrar maintains such a list on behalf of the Issuer will furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such other
times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders. 

Section 2.07 Transfer and Exchange 

(a) Transfer and Exchange of Global Notes. 

(1) A Dollar Global Note may not be transferred except as a whole by a Depositary to a Custodian or a nominee of such
Custodian, by a Custodian or a nominee of such Custodian to such Depositary or to another nominee or Custodian of such Depositary, or by such Custodian or Depositary or any such nominee to a successor Depositary or Custodian or a nominee thereof.

 (2) A Euro Global Note may not be transferred except as a whole by a Depositary to a Common Depositary or a nominee of
such Common Depositary, by a Common Depositary or a nominee of such Depositary to such Depositary or to another nominee or Common Depositary of such Depositary, or by such Common Depositary or Depositary or any such nominee to a successor Depositary
or Common Depositary or a nominee thereof. 

  
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 (3) All Dollar Global Notes and Euro Global Notes, respectively, will be
exchanged by the Issuer for Dollar Definitive Registered Notes and Euro Definitive Registered Notes, respectively: 
 (A) If
DTC, in respect of the Dollar Global Notes, and Euroclear or Clearstream, in respect of the Euro Global Notes, notify the Issuer that they are unwilling or unable to continue to act as Depositary and a successor Depositary is not appointed by the
Issuer within 120 days; 
 (B) in whole, but not in part, if the Issuer or DTC, in respect of the Dollar Notes, or Euroclear
or Clearstream, in respect of the Euro Notes, so request following an Event of Default; provided that in no event shall the Regulation S Temporary Global Note be exchanged by and at the discretion of the Issuer for Definitive Registered Notes
prior to (i) the expiration of the Restricted Period and (ii) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act; or 

(C) if the holder of a Book-Entry Interest requests such exchange in writing delivered through DTC, in respect of the Dollar
Global Notes, or through Euroclear or Clearstream, in respect of the Euro Global Notes, following an Event of Default. 
 Upon the
occurrence of any of the preceding events in clauses (A) through (C) above, the Issuer shall issue or cause to be issued Definitive Registered Notes in such names as the relevant Depositary shall instruct the Trustee. 

(4) Global Notes may also be exchanged or replaced, in whole or in part, as provided in Section 2.08 and
Section 2.11. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to Section 2.08 or Section 2.11, shall be authenticated and delivered in the form of, and shall be, a
Global Note. A Global Note may not be exchanged for another Note (including a Definitive Registered Note), other than as provided in this Section 2.07(a). 

(b) General Provisions Applicable to Transfers and Exchanges of the Notes. Dollar Book-Entry Interests cannot be exchanged for,
or transferred to Persons who take delivery thereof in the form of, Euro Book-Entry Interests or Euro Definitive Registered Notes. Euro Book-Entry Interests cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of,
Dollar Book-Entry Interests or Dollar Definitive Registered Notes. In all other cases, the transfer and exchange of Book-Entry Interests shall be effected through the relevant Depositary, in accordance with the provisions of this Indenture and the
Applicable Procedures. Transfers of Book-Entry Interests in the Global Notes (other than transfers of Book-Entry Interests in connection with which the transferor takes
delivery thereof in the form of a Book-Entry Interest in the same Global Note) shall require compliance with this Section 2.07(b), as well as one or more of the other following subparagraphs of this
Section 2.07, as applicable; provided that (1) prior to the expiration of the Restricted Period, transfers of Book-Entry Interests in the Regulation S Temporary Global Note may not be made to a U.S. Person or for the account and
benefit of a U.S. Person (other than an Initial Purchaser) and (2) in no event shall Definitive Registered Notes be issued upon the transfer or exchange of Book-Entry Interests in the Regulation S Temporary Global Note prior to (A) the
expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act.  

In connection with all transfers and exchanges of Book-Entry Interests (other than transfers of Book-Entry Interests in connection with which the transferor takes delivery thereof in the form of a Book-Entry Interest in the same Global Note), the Trustee and the
Principal Paying Agent must receive: (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing 

  
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the Depositary to debit from the transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to
be transferred or exchanged; (2) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a Book-Entry Interest in another Global Note in an amount equal to the Book-Entry Interest to be transferred or exchanged; and (3) instructions given in accordance with the
Applicable Procedures containing information regarding the Participants’ accounts to be debited with such decrease and credited with such increase, as applicable. 

In connection with a transfer or exchange of a Book-Entry Interest for a Definitive Registered Note,
the Principal Paying Agent and the Registrar must receive: (a) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to debit from the
transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (b) a written order from a Participant directing the
Depositary to cause to be issued a Definitive Registered Note in an amount equal to the Book-Entry Interest to be transferred or exchanged; and (c) instructions given by the Depositary to the Registrar
containing information regarding the Person in whose name such Definitive Registered Note shall be registered to effect the transfer or exchange referred to above. 

In connection with any transfer or exchange of Definitive Registered Notes, the Holder of such Notes shall present or surrender to the
Registrar the Definitive Registered Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, in connection
with a transfer or exchange of a Definitive Registered Note for a Book-Entry Interest, the Trustee and the Principal Paying Agent must receive (1) a written order directing the Depositary to credit the
account of the transferee in an amount equal to the Book-Entry Interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information
regarding the Participant’s account to be credited with such increase. 
 Upon satisfaction of all of the requirements for transfer or
exchange of Book-Entry Interests in Global Notes contained in this Indenture, the Principal Paying Agent or the Registrar, as specified in this Section 2.07, shall endorse the relevant Global Note(s) with
any increase or decrease and instruct the Depositary to reflect such increase or decrease in its systems. 
 (c) Transfer of Book-Entry Interests in a Regulation S Global Note to Book-Entry Interests in a 144A Global Note. A Book-Entry Interest in a
Regulation S Global Note may be transferred to a Person who takes delivery thereof in the form of a Book-Entry Interest in a 144A Global Note, only if the transfer complies with the requirements of
Section 2.07(b) above and the Trustee receives a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (1) thereof. 

Upon the receipt of such certificate and the orders and instructions required by Section 2.07(b), the Trustee shall (1) instruct the
Custodian or the Common Depositary, as applicable, to deliver, or cause to be delivered, the Global Notes to the Transfer Agent for endorsement and upon receipt thereof, decrease Schedule A to such Regulation S Global Note and increase
Schedule A to such 144A Global Note by the principal amount of such transfer, and (2) thereafter, return the Global Notes to the Custodian or the Common Depositary, as applicable, together with all information regarding the Participant
accounts to be credited and debited in connection with such transfer. 
 (d) Transfer of
Book-Entry Interests in a 144A Global Note to Book-Entry Interests in a Regulation S Global Note. A Book-Entry Interest in a
144A Global Note may 

  
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be transferred to a Person who takes delivery thereof in the form of a Book-Entry Interest in a Regulation S Global Note only if the transfer complies with
the requirements of Section 2.07(b) above and the Trustee receives a certificate from the holder of such Book-Entry Interest in the form of Exhibit C hereto, including the certifications in item
(2) thereof. 
 Upon receipt of such certificates and the orders and instructions required by Section 2.07(b), the Trustee shall
(a) instruct the Custodian or the Common Depositary, as applicable, to deliver, or cause to be delivered, the Global Notes to the Transfer Agent for endorsement and, upon receipt thereof, increase Schedule A to such Regulation S Global
Note and decrease Schedule A to such 144A Global Note by the principal amount of such transfer, and (b) thereafter, return the Global Notes to the Custodian or the Common Depositary, as applicable, together with all information regarding
the Participant accounts to be credited and debited in connection with such transfer. 
 (e) Transfer of Book-Entry Interests in Global Notes to Definitive Registered Notes. Book-Entry Interests in a Dollar Global Note cannot be transferred to persons who take delivery thereof in the form of a Euro Definitive
Registered Note. Book-Entry Interests in a Euro Global Note cannot be transferred to persons who take delivery thereof in the form of a Dollar Definitive Registered Note. A holder of a Book-Entry Interest in a
Global Note may transfer such Book-Entry Interest to a Person who takes delivery thereof in the form of a Definitive Registered Note if the transfer complies with the requirements of Section 2.07(a) and
Section 2.07(b) above and: 
 (1) in the case of a transfer by a holder of a
Book-Entry Interest in a Global Note to a QIB in reliance on Rule 144A, the Trustee shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in
item (1) thereof; or 
 (2) in the case of a transfer by a holder of a
Book-Entry Interest in a Global Note in reliance on Regulation S, the Trustee shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (2)
thereof. 
 Upon receipt of such certificates and the orders and instructions required by Section 2.07(b), the Trustee shall
(1) instruct the Custodian or the Common Depositary, as applicable, to deliver, or cause to be delivered, the relevant Global Note to the Transfer Agent for endorsement and upon receipt thereof, decrease Schedule A to the relevant Global
Note by the principal amount of such transfer; (2) thereafter, return the Global Note to the Custodian or the Common Depositary, as applicable, together with all information regarding the Participant accounts to be debited in connection with
such transfer; and (3) deliver to the Registrar the instructions received by it that contain information regarding the Person in whose name Definitive Registered Notes shall be registered to effect such transfer. The Registrar shall record the
transfer in the Register and cause all Definitive Registered Notes issued in connection with a transfer pursuant to this Section 2.07(e) to bear the Private Placement Legend. 

Notwithstanding Section 2.07(e)(1) or Section 2.07(e)(2) hereof, a Book-Entry Interest in the Regulation S Temporary Global Note may
not be transferred to a Person who takes delivery in the form of a Definitive Registered Note prior to (A) the expiration of the Restricted Period and (B) receipt by the Registrar of any certificates required pursuant to Rule
903(b)(3)(ii)(B) under the Securities Act, except in the case of a transfer pursuant to an exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904. 

The Issuer shall issue and, upon receipt of an Authentication Order from the Issuer in accordance with Section 2.02, the Authenticating
Agent shall authenticate, one or more 

  
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Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of Book-Entry Interests so transferred and registered
and in the names set forth in the instructions received by the Registrar. 
 (f) Transfer of Definitive Registered Notes to Book-Entry Interests in Global Notes. Dollar Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form of Book-Entry Interests in a Euro Global Note. Euro Definitive
Registered Notes cannot be transferred to persons who take delivery thereof in the form of Book-Entry Interests in a Dollar Global Note. Any Holder of a Definitive Registered Note may transfer such Definitive Registered Note to a Person who takes
delivery thereof in the form of a Book-Entry Interest in a Global Note only if: 
  

	 	(1)	in the case of a transfer by a holder of a Regulation S Definitive Registered Note to a person who takes delivery thereof in the form of a Book-Entry Interest in a Regulation S
Global Note, the Registrar shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (2) thereof; or 

 

	 	(2)	in the case of a transfer by a holder of Definitive Registered Notes to a QIB in reliance on Rule 144A who takes delivery thereof in the form of a Book-Entry Interest in a Rule
144A Global Note, the Registrar shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (1) thereof. 

Upon satisfaction of the foregoing conditions, the Registrar shall (1) deliver the Definitive Registered Notes to the Trustee for
cancellation pursuant to Section 2.12; (2) record such transfer on the Register; (3) instruct the Custodian or the Common Depositary, as applicable, to deliver (A) in the case of a transfer pursuant to Section 2.07(f)(1), a
Dollar Regulation S Global Note or a Euro Regulation S Global Note, as the case may be, and (B) in the case of a transfer pursuant to Section 2.07(f)(2), a Dollar 144A Global Note or a Euro 144A Global Note, as the case may be;
(4) endorse Schedule A to such Global Note to reflect the increase in principal amount resulting from such transfer; and (5) thereafter, return the Global Notes to the Custodian or the Common Depositary, as applicable, together with
all information regarding the Participant accounts to be credited in connection with such transfer. 
 (g) Exchanges of Book-Entry Interests in Global Notes for Definitive Registered Notes. Euro Book-Entry Interests cannot be exchanged for Dollar Definitive Registered Notes. Dollar Book-Entry Interests cannot be exchanged for
Euro Definitive Registered Notes. A holder of a Book-Entry Interest in a Global Note may exchange such Book-Entry Interest for a Definitive Registered Note if the
exchange complies with the requirements of Section 2.07(a) and Section 2.07(b) above and the Trustee receives the following: 

(1) if the holder of such Book-Entry Interest in a Global Note proposes to exchange
such Book-Entry Interest for a Regulation S Definitive Registered Note, a certificate from such holder in the form of Exhibit D hereto, including the certifications in item 2(a) thereof; 

(2) if the holder of such Book-Entry Interest in a Global Note proposes to exchange
such Book-Entry Interest for a 144A Definitive Registered Note, a certificate from such holder in the form of Exhibit D hereto including the certifications in item 2(a) thereof. 

Upon receipt of such certificates and the orders and instructions required by Section 2.07(b), the Trustee shall (1) instruct the
Custodian or the Common Depositary, as applicable, to deliver, or cause to be delivered, the relevant Global Note to the Transfer 

  
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Agent for endorsement and upon receipt thereof, decrease Schedule A to the relevant Global Note by the principal amount of such exchange; (2) thereafter, return the Global Note to the
Custodian or the Common Depositary, as applicable, together with all information regarding the Participant accounts to be debited in connection with such exchange; and (3) deliver to the Registrar instructions received by it that contain
information regarding the Person in whose name Definitive Registered Notes shall be registered to effect such exchange. The Registrar shall record the transfer in the Register and cause all Definitive Registered Notes issued in exchange for a Book-Entry Interest in a Global Note pursuant to this Section 2.07(g) to bear the Private Placement Legend. 

Notwithstanding Section 2.07(g)(1) or Section 2.07(g)(2) hereof, a Book-Entry Interest in the Regulation S Temporary Global Note may
not be exchanged for a Definitive Registered Note prior to (A) the expiration of the Restricted Period and (B) receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the
case of a transfer pursuant to an exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904. 
 The
Issuer shall issue and, upon receipt of an Authentication Order from the Issuer in accordance with Section 2.02, the Authenticating Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the
aggregate principal amount of Book-Entry Interests so exchanged and registered and in the names set forth in the instructions received by the Registrar. 

(h) Exchanges of Definitive Registered Notes for Book-Entry Interests in Global Notes.
Dollar Definitive Registered Notes cannot be exchanged for Book-Entry Interests in a Euro Global Note. Euro Definitive Registered Notes cannot be exchanged for Book-Entry Interests in a Dollar Global Note. Any Holder of a Definitive Registered
Note may exchange such Note for a Book-Entry Interest in a Global Note if such exchange complies with Section 2.07(b) above and the Registrar receives the following documentation: 

(1) if the Holder of a 144A Definitive Registered Note proposes to exchange such Note for a
Book-Entry Interest in a 144A Global Note, a certificate from such Holder in the form of Exhibit D hereto, including the certifications in item (b) thereof; or 

(2) if the Holder of a Regulation S Definitive Registered Notes proposes to exchange such Notes for a Book-Entry Interest in a Regulation S Global Note, a certificate from such Holder in the form of Exhibit D hereto, including the certifications in item (b) thereof. 

Upon satisfaction of the foregoing conditions, the Trustee shall (a) cancel such Note pursuant to Section 2.12; (b) record such
exchange on the Register; (c) endorse Schedule A to such Global Note to reflect the increase in principal amount resulting from such exchange; and (d) thereafter, return the Global Note to the Custodian or the Common Depositary, as
applicable, together with all information regarding the Participant accounts to be credited in connection with such exchange. 
 (i)
Transfer of Definitive Registered Notes for Definitive Registered Notes. Dollar Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form of Euro Definitive Registered Notes. Euro Definitive Registered
Notes cannot be transferred to persons who take delivery thereof in the form of Dollar Definitive Registered Notes. Any Holder of a Definitive Registered Note may transfer such Note to a Person who takes delivery thereof in the form of Definitive
Registered Notes if the transfer complies with Section 2.07(b) above and the Registrar receives the following additional documentation: 

(1) in the case of a transfer by a Holder of Definitive Registered Notes pursuant to Regulation S, the Registrar shall have
received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (2) thereof; or 

(2) in the case of a transfer by a Holder of Definitive Registered Notes to a QIB in reliance on Rule 144A, the Registrar shall
have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (1) thereof. 

  
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 Upon the receipt of any Definitive Registered Note, the Trustee shall cancel such Note pursuant
to Section 2.12 and complete and deliver to the Issuer (1) in the case of a transfer pursuant to Section 2.07(i)(1), a Regulation S Definitive Registered Note and (2) in the case of a transfer pursuant to Section 2.07(i)(2),
a 144A Definitive Registered Note. The Registrar shall record the transfer in the Register and cause all Definitive Registered Notes issued in exchange in connection with a transfer pursuant to this Section 2.07(i) to bear the Private Placement
Legend. 
 The Issuer shall issue and, upon receipt of an Authentication Order from the Issuer in accordance with Section 2.02, the
Authenticating Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of Definitive Registered Notes so transferred and registered in the names set forth in the
instructions received by the Registrar. 
 (j) Legends. 

(1) Private Placement Legend. The following legend shall appear on the face of all Notes issued under this Indenture,
unless the Issuer determines otherwise in compliance with applicable law: 
 “THE SECURITY EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A
TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND THE
SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE
U.S. SECURITIES ACT, (2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION
DATE”) THAT IS IN THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY AND IN THE CASE OF REGULATION S
NOTES: 40 DAYS AFTER THE LATER OF THE COMMENCEMENT OF THIS OFFERING AND THE DATE ON WHICH THIS SECURITY (OR PREDECESSOR OF THIS SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTIONS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON
REGULATION S, ONLY (A) TO THE ISSUER, (B) PURSUANT TO A 

  
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REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S.
SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM
NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE U.S. SECURITIES ACT, OR (E) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY
OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

BY ACCEPTING THIS NOTE (OR AN INTEREST IN THE NOTES REPRESENTED HEREBY) EACH ACQUIRER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND
AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT HOLDS THIS NOTE OR ANY INTEREST HEREIN IT
WILL NOT BE, AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)), SUBJECT TO THE PROVISIONS OF
PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), APPLIES, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS”
(WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3 101 (AS MODIFIED BY SECTION 3(42) OF ERISA)), BY REASON OF SUCH PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “BENEFIT PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON
U.S. PLAN WHICH IS SUBJECT TO ANY FEDERAL, STATE, LOCAL, NON U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE PROHIBITED TRANSACTION PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE
(“SIMILAR LAWS”), AND NO PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN INVESTOR OR SUCH A GOVERNMENTAL, CHURCH OR NON U.S. PLAN, OR (B) ITS ACQUISITION,
HOLDING AND DISPOSITION OF THIS NOTE OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA AND/OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A
GOVERNMENTAL, CHURCH OR NON U.S. PLAN, A NON EXEMPT VIOLATION OF ANY SIMILAR LAWS); AND (2) NEITHER THE ISSUER NOR ANY OF ITS AFFILIATES IS A “FIDUCIARY” (WITHIN THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE

  
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CODE OR, WITH RESPECT TO A GOVERNMENTAL, CHURCH OR NON U.S. PLAN, ANY DEFINITION OF “FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO THE PURCHASER OR HOLDER IN CONNECTION WITH ANY
PURCHASE OR HOLDING OF THIS NOTE, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THIS NOTE, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY
INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION WITH THIS NOTE AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS NOTE.” 

The following legend shall be included to the extent applicable: 

“THE FOLLOWING INFORMATION IS SUPPLIED SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES. THIS NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT
(“OID”) WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND THIS LEGEND IS REQUIRED BY SECTION 1275(c) OF THE CODE.” 

(2) Global Note Legend. Each Global Note shall bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE [IN THE CASE OF DOLLAR GLOBAL NOTES: CUSTODIAN/ IN THE CASE OF EURO GLOBAL NOTES: COMMON DEPOSITARY] (AS
DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL NOTE MAY BE TRANSFERRED OR
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE; (II) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE; AND (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE
FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE.” 
 (3) Regulation S Temporary Global Note Legend.
The following legend shall appear on the face of all Regulation S Temporary Global Notes issued under this Indenture, unless the Issuer determines otherwise in compliance with applicable law: 

“THIS GLOBAL NOTE IS A TEMPORARY GLOBAL NOTE FOR PURPOSES OF REGULATION S UNDER THE U.S. SECURITIES ACT. NEITHER THIS TEMPORARY GLOBAL
NOTE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD, DELIVERED OR EXCHANGED FOR AN INTEREST IN A PERMANENT GLOBAL NOTE OR OTHER NOTE EXCEPT UPON DELIVERY OF THE CERTIFICATIONS SPECIFIED IN THE INDENTURE.” 

(k) Cancellation. At such time as all Book-Entry Interests have been exchanged for Definitive Registered Notes or all Global Notes have
been redeemed or repurchased, the Global Notes shall be returned to the Trustee for cancellation in accordance with Section 2.12. 
 (l)
General Provisions Relating to Registration of Transfers and Exchanges. To permit registration of transfers and exchanges, the Issuer shall execute and the Authentication Agent shall authenticate Global Notes and Definitive Registered Notes
upon the Issuer’s order in accordance with the provisions of Section 2.02. 
 (1) No service charge shall be made to a
Holder for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any taxes, duties or governmental charge payable in connection therewith (other than any such taxes, duties or governmental charge
payable upon exchange or transfer pursuant to Sections 2.11, 4.10, 4.14 and 9.05). 

  
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 (2) All Global Notes and Definitive Registered Notes issued upon any registration
of transfer or exchange of Global Notes or Definitive Registered Notes shall be the valid obligations of the Issuer and the Guarantors, evidencing the same debt and entitled to the same benefits under this Indenture, as the Global Notes or
Definitive Registered Notes surrendered upon such registration of transfer or exchange. 
 (3) The Issuer shall not be
required to register the transfer of or, to exchange, Definitive Registered Notes (A) for a period beginning at the opening of business 15 calendar days before any Redemption Date and ending at the close of business on the Redemption Date;
(B) for a period beginning at the opening of business 15 calendar days immediately prior to the date fixed for selection of Notes to be redeemed in part, and ending at the close of business on the date on which such Notes are selected;
(C) for a period of 15 calendar days before any Regular Record Date with respect to any Interest Payment Date; or (D) which the Holder has tendered (and not withdrawn) for repurchase in connection with a Change of Control Offer or an Asset
Disposition Offer. 
 (4) As soon as practicable after delivering any Global Note or Definitive Registered Note, the
Registrar shall supply to the Trustee and the Agents all relevant details of the Notes delivered. 
 (5) The Issuer shall not
be required to register the transfer or exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

The Trustee shall have no responsibility for any actions or omissions of a Depositary. 

Section 2.08 Replacement Notes 
 (a)
If any mutilated Note is surrendered to a Paying Agent, the Registrar or the Trustee or the Issuer and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Issuer will issue and the Authenticating
Agent, upon receipt of an Authentication Order, will authenticate a replacement Note if the Trustee’s and/or the Authenticating Agent’s requirements are met. If required by the Trustee or the Issuer, an indemnity bond must be supplied by
the Holder that is sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the Trustee, any Agent and any Authenticating Agent from any loss that any of them may suffer if a Note is replaced. The Issuer and the Trustee may
charge for their expenses in replacing a Note, including reasonable fees and expenses of counsel. In the event any such mutilated, lost, destroyed or stolen Note has become or is about to become due and payable, the Issuer in its discretion may pay
such Note instead of issuing a new Note in replacement thereof. 
 (b) The provisions of this Section 2.08 are exclusive and shall
preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or stolen Notes. 

(c) Every replacement Note issued pursuant to this Section 2.08 is an additional obligation of the Issuer and will be entitled to all of
the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 

  
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 Section 2.09 Outstanding Notes 

The Notes outstanding at any time are all the Notes authenticated by the Authenticating Agent except for those cancelled by it, those delivered
to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.09 as not outstanding. Except as set forth in Section 2.10, a
Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note; however, Notes held by the Issuer or a Subsidiary of the Issuer shall not be deemed to be outstanding for purposes of Section 3.07(a). 

If a Note is replaced pursuant to Section 2.08, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the
replaced Note is held by a protected purchaser. 
 If the principal amount of any Note is considered paid under Section 4.01, it ceases
to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any
thereof) holds, on a Redemption Date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest. 

A mutilated Note ceases to be outstanding upon surrender of such Note and replacement thereof pursuant to Section 2.08. 

Section 2.10 Treasury Notes 
 In
determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer, or by any Person directly or indirectly controlling or controlled by or under direct or indirect
common control with the Issuer, will be considered as though not outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that a Responsible
Officer of the Trustee actually knows are so owned will be so disregarded. 
 Section 2.11 Temporary Notes 

Until certificates representing Notes are ready for delivery, the Issuer may prepare and the Authenticating Agent, upon receipt of an
Authentication Order, will authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but may have variations that the Issuer considers appropriate for temporary Notes and as may be reasonably acceptable to
the Trustee. Without unreasonable delay, the Issuer will prepare and the Trustee will authenticate definitive Notes in exchange for temporary Notes. 

Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

Section 2.12 Cancellation 
 The
Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel
all Notes surrendered for registration of transfer, exchange, payment, replacement or 

  
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cancellation and will destroy cancelled Notes. Certification of the destruction of all cancelled Notes will be delivered to the Issuer. The Issuer may not issue new Notes to replace Notes that it
has paid or that have been delivered to the Trustee for cancellation. 
 Section 2.13 Defaulted Interest 

If the Issuer defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer will notify the Trustee in writing of the
amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be less
than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) will mail
or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

Section 2.14 CUSIP, ISIN or Common Code Number 

The Issuer in issuing the Notes may use a “CUSIP”, “ISIN” or “Common Code” number and, if so, such CUSIP, ISIN or
Common Code number shall be included in notices of redemption or exchange as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP, ISIN or Common
Code number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes 

Section 2.15 Deposit of Moneys 
 One
Business Day prior to each Interest Payment Date, the maturity date of the Notes, each Redemption Date and each payment date relating to an Asset Disposition Offer or a Change of Control Offer, and on the Business Day immediately following any
acceleration of the Notes pursuant to Section 6.02, the Issuer shall deposit with a Paying Agent in immediately available funds money in dollars and/or euro sufficient to make cash payments, if any, due on such Interest Payment Date, maturity
date, Redemption Date, the payment date relating to an Asset Disposition or a Change of Control Offer, or Business Day, as the case may be. All such payments so made to a Paying Agent, or upon his order, shall be valid, and, to the extent of the sum
or sums so paid, effective to satisfy and discharge the liability for moneys payable upon any Note. Subject to receipt of such funds by such time, each Paying Agent shall remit such payment in a timely manner to the Holders on such Interest Payment
Date, maturity date, Redemption Date, the payment date relating to an Asset Disposition or a Change of Control Offer, or Business Day, as the case may be, to the Persons and in the manner set forth in paragraph 2 of the Notes. 

ARTICLE 3.  
 REDEMPTION AND
PREPAYMENT 
 Section 3.01 Notices to Trustee 

If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07, Section 3.08 or
Section 4.14(d), they must furnish to the Trustee, at least 10 days but not more than 60 days before a Redemption Date, an Officer’s Certificate setting forth: 

(1) the clause of this Indenture pursuant to which the redemption shall occur; 

  
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 (2) the Redemption Date and the record date; 

(3) the principal amount of Notes to be redeemed; 

(4) the redemption price; and 

(5) the CUSIP, ISIN or Common Code numbers, as applicable. 

Section 3.02 Selection of Notes to Be Redeemed or Purchased 

If less than all of the Dollar Notes or the Euro Notes, as the case may be, are to be redeemed or purchased in an offer to purchase at any
time, the Trustee will select Notes for redemption or purchase on a pro rata basis (or, in the case of Global Notes, pursuant to the applicable procedures of the relevant Depositary) unless otherwise required by law or applicable stock
exchange or depositary requirements. 
 In the case of any partial redemption, selection of the Notes for redemption will be made by the
Trustee on a pro rata basis (or, in the case of Global Notes, based on the procedures of the applicable Depositary) unless otherwise required by law or applicable stock exchange or depositary requirements, although no Dollar Notes of $200,000 in
original principal amount or less or no Euro Notes of €100,000 in original principal amount or less can be redeemed in part. The Trustee will not be liable for selections made by it in accordance with this paragraph. If any Dollar Note or Euro
Note is to be redeemed in part only, the notice of redemption relating to such Note will state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the
name of the Holder thereof upon cancellation of the original Note. 
 Section 3.03 Notice of Redemption 

Subject to the provisions of Section 3.07, Section 3.08 and Section 4.14(d), at least 10 days but not more than 60 days before a
Redemption Date, the Issuer will deliver or cause to be delivered, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be delivered more than 60 days prior to a
Redemption Date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 12. 

The notice will identify the Notes to be redeemed and will state: 

(1) the Redemption Date and the record date; 

(2) the redemption price; 

(3) the CUSIP, ISIN and/or Common Code number(s), if any; 

(4) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the
Redemption Date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation of the original Note; 

(5) the name and address of the Paying Agent; 

  
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 (6) that Notes called for redemption must be surrendered to the Paying Agent to
collect the redemption price; 
 (7) that, unless the Issuer defaults in making such redemption payment, interest on Notes
called for redemption ceases to accrue on and after the Redemption Date (or such other date specified in Section 4.14(d) to the extent applicable); 

(8) the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being
redeemed; and 
 (9) that no representation is made as to the correctness or accuracy of the CUSIP, ISIN and/or Common Code,
if any, listed in such notice or printed on the Notes. 
 At the Issuer’s request, the Trustee will give the notice of redemption in
the Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee, at least 15 days prior to the Redemption Date or such shorter period as the Trustee may agree, an Officer’s Certificate
requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Any notices in connection with such redemption shall be given by the Issuer pursuant to Section 14.01(d) and Section 14.01(e), as
applicable. 
 Section 3.04 Effect of Notice of Redemption 

Once notice of redemption is delivered in accordance with Section 3.03, Notes called for redemption become irrevocably due and payable on
the Redemption Date at the redemption price; provided, however, that a notice of redemption may be conditional except as otherwise set forth in this Article 3. 

Section 3.05 Deposit of Redemption or Purchase Price 

One Business Day prior to the Redemption Date or repurchase date, the Issuer will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption or purchase price of and accrued interest on all Notes to be redeemed or repurchased on that date. The Trustee or the Paying Agent will promptly return to the Issuer any money deposited with the Trustee or the Paying
Agent by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest on, all Notes to be redeemed or purchased. 

If the Issuer complies with the provisions of the preceding paragraph, on and after the Redemption Date or repurchase date (or such other date
specified in Section 4.14(d) to the extent applicable), interest will cease to accrue on the Notes or the portions of Notes called for redemption or repurchase. If a Note is redeemed or purchased on or after an interest record date but on or
prior to the related Interest Payment Date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or repurchase is not
so paid upon surrender for redemption or repurchase because of the failure of the Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the Redemption Date or repurchase date until such principal is
paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01. 

  
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 Section 3.06 Notes Redeemed or Repurchased in Part 

Upon surrender of a Note that is redeemed in part, the Issuer will issue and, upon receipt of an Authentication Order, the Trustee will
authenticate for the Holder at the expense of the Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered; provided that any Definitive Registered Note shall be in a principal amount of
$200,000 and integral multiples of $1,000 above $200,000 in the case of the Dollar Notes and shall be in a principal amount of €100,000 and integral multiples of €1,000 above €100,000 in the case of the Euro Notes. 

Section 3.07 Optional Redemption 

(a) Except as set forth in Section 3.07(c), Section 3.07(d), 3.08, Section 3.11 and Section 4.14(d), the Notes are not
redeemable until January 15, 2020. 
 (b) At any time prior to January 15, 2020, the Issuer may also redeem all, or from time to
time a part, of the Dollar Notes and/or Euro Notes upon not less than 10 nor more than 60 days’ notice, in amounts, in the case of the Dollar Notes, of $200,000 and in integral multiples of $1,000 in excess thereof and, in the case of the Euro
Notes, €100,000 and in integral multiples of €1,000 in excess thereof, at a price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued but unpaid interest and Additional Amounts, if any, to, the
applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). 

Any redemption and notice pursuant to this Section 3.07(b) may, in the Issuer’s discretion, be subject to satisfaction of one or
more conditions precedent. For the avoidance of doubt, the Issuer may choose to redeem the Dollar Notes and Euro Notes, either together or separately pursuant to this Section 3.07(b). 

If the optional Redemption Date is on or after an interest record date and on or before the related Interest Payment Date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Dollar Note or Euro Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Dollar Notes and/or Euro Notes will
be subject to redemption by the Issuer. 
 (c) On or after January 15, 2020, the Issuer may redeem all or, from time to time, a part of
the Dollar and/or Euro Notes upon not less than 10 nor more than 60 days’ notice, in amounts, in the case of the Dollar Notes, of $200,000 and in integral multiples of $1,000 in excess thereof and, in the case of the Euro Notes, of
€100,000 and in integral multiples of $1,000 in excess thereof, at the following redemption prices (expressed as a percentage of principal amount) plus accrued and unpaid interest and Additional Amounts, if any, to the applicable Redemption
Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), if redeemed during the twelve-month period commencing on January 15 of the years set out below: 

 

									
	 	  	Redemption Price	 
	 Year
	  	Dollar Notes	 	 	Euro Notes	 
	 2020
	  	 	102.875	% 	 	 	102.250	% 
			
	 2021
	  	 	101.917	% 	 	 	101.500	% 
			
	 2022
	  	 	100.958	% 	 	 	100.750	% 
			
	 2023 and thereafter
	  	 	100.000	% 	 	 	100.000	% 

  
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 Any redemption and notice pursuant to this Section 3.07(c) may, in the Issuer’s
discretion, be subject to satisfaction of one or more conditions precedent. For the avoidance of doubt, the Issuer may choose to redeem Dollar Notes and Euro Notes, either together or separately pursuant to this Section 3.07(c). 

If the optional Redemption Date is on or after an interest record date and on or before the related Interest Payment Date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Dollar Note or Euro Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Dollar Notes and/or Euro Notes will
be subject to redemption by the Issuer. 
 (d) At any time, or from time to time, prior to January 15, 2018, the Issuer may, at its
option, use the Net Cash Proceeds of one or more Equity Offerings to redeem, upon not less than 10 nor more than 60 days’ notice, in amounts, in the case of the Dollar Notes, of $200,000 and in integral multiples of $1,000 in excess thereof
and, in the case of the Euro Notes, of €100,000 and in integral multiples of €1,000 in excess thereof, up to 40% of the principal amount of the Notes issued under this Indenture (including the principal amount of any Additional Notes) at a
redemption price of 105.750% of the principal amount of the Dollar Notes redeemed and 104.500% of the principal amount of the Euro Notes redeemed, plus accrued and unpaid interest and Additional Amounts, if any, to the Redemption Date (subject to
the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date); provided that: 

(1) at least 50% of the principal amount of each of the Dollar Notes and the Euro Notes (which includes Additional Notes, if
any) issued under this Indenture remains outstanding immediately after any such redemption; and 
 (2) the Issuer makes such
redemption not more than 180 days after the consummation of any such Equity Offering. 
 Any redemption and notice pursuant to this
Section 3.07(d) may, in the Issuer’s discretion, be subject to satisfaction of one or more conditions precedent. For the avoidance of doubt, the Issuer may choose to redeem each series of Notes, either together or separately, pursuant to
this Section 3.07(d). 
 If the optional Redemption Date is on or after an interest record date and on or before the related Interest
Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to
redemption by the Issuer. 
 (e) Any redemption pursuant to this Section 3.07 and Section 4.14(d) shall be made pursuant to the
provisions of Sections 3.01 through 3.06. 

  
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 Section 3.08 Special Optional Redemption 

(a) At any time on or prior to the earlier of (1) the date that is 15 days following the consummation of the UPC Ireland Acquisition (or
if such date is not a Business Day, the following Business Day) or (2) the date that is six months from the Issue Date (or if such date is not a Business Day, the following Business Day) (the “Special Optional Redemption Election
Date”), the Issuer may, at its option, elect to redeem all or a portion of the Dollar Notes and/or Euro Notes (the “Special Optional Redemption”) at a redemption price (the “Special Optional Redemption
Price”) equal to 100% of the principal amount of the Dollar Notes and/or Euro Notes redeemed, plus accrued but unpaid interest and Additional Amounts, if any, to the Special Optional Redemption Date (as defined in Section 3.08(b))
(subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). 

(b) Notice of the Special Optional Redemption will be mailed or delivered to the Trustee (with an Officer’s Certificate requesting the
Trustee to deliver the same to each Holder) by the Issuer on or prior to the Special Optional Redemption Election Date, and will provide that the Notes shall be redeemed on a date that is no later than the tenth Business Day after such notice is
mailed or delivered, which for the avoidance of doubt, may be following the Special Optional Redemption Election Date (the “Special Optional Redemption Date”). On the Special Optional Redemption Date, the Issuer shall pay to the
Paying Agent for payment to each Holder the Special Optional Redemption Price for such Holder’s Notes. Any such Special Optional Redemption and notice may, in the Issuer’s discretion, be subject to satisfaction of one or more conditions
precedent. 
 (c) If the Special Optional Redemption Date is on or after an interest record date and on or before the related Interest
Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to
redemption by the Issuer. 
 (d) Other than as specifically provided in this Section 3.08, any redemption pursuant to this
Section 3.08 shall be made pursuant to the provisions of Sections 3.01 through 3.06. 
 Section 3.09 [Reserved] 

Section 3.10 Mandatory Redemption 

The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

Section 3.11 Redemption for Taxation Reasons 

The Issuer may redeem the Notes in whole, but not in part, at any time upon giving not less than 10 nor more than 60 days’ notice to the
Holders (which notice will be irrevocable) at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest, if any, to the date fixed for redemption (a “Tax Redemption Date”) (subject
to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), and Additional Amounts, if any, then due and which will become due on the Tax Redemption Date as a result of the redemption
or otherwise, if the Issuer determines that, as a result of: 
 (1) any change in, or amendment to, the law or treaties (or
any regulations or rulings promulgated thereunder) of a Relevant Taxing Jurisdiction affecting taxation; or 
 (2) any change
in position regarding the application, administration or interpretation of such laws, treaties, regulations or rulings (including a holding, judgment or order by a court of competent jurisdiction) (each of the foregoing in clauses (1) and (2),
a “Change in Tax Law”), 

  
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 the Issuer is, or on the next Interest Payment Date in respect of the Notes would be, required to pay more than
de minimis Additional Amounts, and such obligation cannot be avoided by taking reasonable measures available to it (including, without limitation, by appointing a new or additional paying agent in another jurisdiction). The Change in Tax Law must
become effective on or after the date of the Offering Memorandum. In the case of a successor to the Issuer, the Change in Tax Law must become effective after the date that such entity first makes payment on the Notes. Notice of redemption for
taxation reasons will be given by the Issuer in accordance with Section 3.03. Notwithstanding the foregoing, no such notice of redemption will be given (1) earlier than 90 days prior to the earliest date on which the Payor would be obliged
to make such payment of Additional Amounts and (2) unless at the time such notice is given, such obligation to pay such Additional Amounts remains in effect. Prior to the publication, delivery or mailing of any notice of redemption of the Notes
pursuant to the foregoing, the Issuer will deliver to the Trustee (1) an Officer’s Certificate stating that the Issuer is entitled to effect such redemption and setting forth a statement of facts showing that the conditions precedent to
its right to so redeem have been satisfied and that it cannot avoid the obligations to pay Additional Amounts by taking reasonable measures available to it; and (2) an opinion of an independent tax counsel reasonably satisfactory to the Trustee
to the effect that the circumstances referred to above exist. The Trustee will accept such Officer’s Certificate and opinion as sufficient evidence of the existence of satisfaction of the conditions precedent as described above, in which event
it will be conclusive and binding on the Holders. 
 The foregoing provisions will apply mutatis mutandis to any successor to the
Issuer after such successor person becomes a party to this Indenture. 
 Section 3.12 Offer to Purchase by Application of Excess Proceeds 

In the event that, pursuant to Section 4.10, the Issuer is required to make an offer to all Holders to purchase Notes (an “Asset
Disposition Offer”), it will follow the procedures specified below. 
 The Asset Disposition Offer shall be made to all Holders and
to the extent required by the terms of other Indebtedness of the Issuer or any Subsidiary Guarantor that does not constitute Subordinated Obligations, to all holders of such other Indebtedness outstanding with similar provisions requiring the Issuer
or such Subsidiary Guarantor to make an offer to purchase such Indebtedness with the proceeds from any Asset Disposition (“Other Asset Disposition Indebtedness”), to purchase the maximum principal amount of Notes and any such Other
Asset Disposition Indebtedness to which the Asset Disposition Offer applies that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes and Other Asset Disposition
Indebtedness plus accrued and unpaid interest to the date of purchase, in accordance with the procedures set forth in this Section 3.12 or the agreements governing the Other Asset Disposition Indebtedness, as applicable, in each case in a
principal amount of $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes and €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes. 

To the extent that the aggregate amount of Notes and Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn
pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for general corporate purposes in any manner not prohibited by this 

  
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Indenture. If the aggregate principal amount of Notes surrendered by Holders thereof and Other Asset Disposition Indebtedness surrendered by Holders or lenders, collectively, exceeds the amount
of Excess Proceeds, the Trustee shall select the Notes and Other Asset Disposition Indebtedness to be purchased on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and Other Asset Disposition Indebtedness. For
the purposes of calculating the principal amount of any such Indebtedness not denominated in sterling, such Indebtedness shall be calculated by converting any such principal amounts into their Sterling Equivalent determined as of a date selected by
the Issuer that is within the Asset Disposition Offer Period. Upon completion of such Asset Disposition Offer, the amount of Excess Proceeds shall be reset at zero. 

The Asset Disposition Offer, insofar as it relates to the Notes, will remain open for a period of 20 Business Days following its commencement,
except to the extent that a longer period is required by applicable law (the “Asset Disposition Offer Period”). No later than five Business Days after the termination of the Asset Disposition Offer Period (the “Asset
Disposition Purchase Date”), the Issuer will purchase the principal amount of Notes and Other Asset Disposition Indebtedness required to be purchased pursuant to this Section 3.12 (the “Asset Disposition Offer Amount”)
or, if less than the Asset Disposition Offer Amount has been so validly tendered, all Notes and Other Asset Disposition Indebtedness validly tendered in response to the Asset Disposition Offer. 

Any Net Available Cash payable in respect of the Notes pursuant to this Section 3.12 will be apportioned between the Dollar Notes and the
Euro Notes in proportion to the respective aggregate principal amounts of Dollar Notes and Euro Notes validly tendered and not withdrawn, based upon the Euro Equivalent of such principal amount of Dollar Notes determined as of a date selected by the
Issuer that is within the Asset Disposition Offer Period. To the extent that any portion of Net Available Cash payable in respect of the Notes is denominated in a currency other than the currency in which the relevant Notes are denominated, the
amount thereof payable in respect of such Notes shall not exceed the net amount of funds in the currency in which such Notes are denominated that is actually received by the Issuer upon converting such portion into such currency. 

If the Asset Disposition Purchase Date is on or after an interest record date and on or before the related Interest Payment Date, any accrued
and unpaid interest will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Asset Disposition Offer. 

Upon the commencement of an Asset Disposition Offer, the Issuer will deliver a notice to the Trustee and each of the Holders, with a copy to
the Trustee. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Disposition Offer. The notice, which will govern the terms of the Asset Disposition Offer, will state: 

(1) that the Asset Disposition Offer is being made pursuant to this Section 3.12 and Section 4.10 and the length of
time the Asset Disposition Offer will remain open; 
 (2) the Asset Disposition Offer Amount, the purchase price and the
Asset Disposition Purchase Date; 
 (3) that any Note not tendered or accepted for payment will continue to accrue interest;

  
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 (4) that, unless the Issuer defaults in making such payment, any Note accepted
for payment pursuant to the Asset Disposition Offer will cease to accrue interest after the Asset Disposition Purchase Date; 

(5) that Holders electing to have a Note purchased pursuant to an Asset Disposition Offer may elect to have Notes purchased in
denominations of $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes, and €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes; 

(6) that Holders electing to have Notes purchased pursuant to any Asset Disposition Offer will be required to surrender the
Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the Issuer, a Depositary, if appointed by the Issuer, or a
Paying Agent at the address specified in the notice at least three days before the Asset Disposition Purchase Date; 
 (7)
that Holders will be entitled to withdraw their election if the Issuer, the Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Asset Disposition Offer Period, facsimile transmission or letter setting
forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 

(8) that, if the aggregate principal amount of Notes and Other Asset Disposition Indebtedness surrendered by Holders thereof
exceeds the Asset Disposition Offer Amount, the Issuer will select the Notes and Other Asset Disposition Indebtedness to be purchased on a pro rata basis based on the principal amount of Notes and such Other Asset Disposition Indebtedness
surrendered (with such adjustments as may be deemed appropriate by the Issuer so that only Notes in denominations of $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes, and €100,000 and in integral
multiples of €1,000 in excess thereof, in the case of the Euro Notes, will be purchased); and 
 (9) that Holders whose
Notes were purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 

On or before the Asset Disposition Purchase Date, the Issuer will, to the extent lawful, accept for payment, on a pro rata basis to the extent
necessary, the Asset Disposition Offer Amount of Notes and Other Asset Disposition Indebtedness or portions of Notes and Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn pursuant to the Asset Disposition Offer, or
if less than the Asset Disposition Offer Amount has been validly tendered and not properly withdrawn, all Notes and Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn, in each case in a principal amount of $200,000
and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes, and €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes. The Issuer will deliver to the Trustee an
Officer’s Certificate stating that such Notes or portions thereof were accepted for payment by the Issuer in accordance with the terms of this Section 3.12. The Issuer or the Paying Agent, as the case may be, will promptly (but in any case
not later than five Business Days after termination of the Asset Disposition Offer Period) mail or deliver to each tendering Holder or Holder or lender of Other Asset Disposition Indebtedness, as the case may be, an amount equal to the purchase
price of the Notes or Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn by such Holder or lender, as the case may be, and accepted by the 

  
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Issuer for purchase, and the Issuer will promptly issue a new Note, and the Trustee, upon delivery of an Officer’s Certificate from the Issuer, will authenticate and mail or deliver (or
cause to be transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered; provided that each such new Note will be in a principal amount of $200,000 and in integral
multiples of $1,000 in excess thereof, in the case of the Dollar Notes and €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes. In addition, the Issuer will take any and all other actions required
by the agreements governing the Other Asset Disposition Indebtedness. Any Note not so accepted will be promptly mailed or delivered by the Issuer to the Holder thereof. The Issuer will publicly announce the results of the Asset Disposition Offer on
the Asset Disposition Purchase Date. 
 The Issuer will comply, to the extent applicable, with the requirements of Section 14(e) of the
Exchange Act and any other securities laws or regulations in connection with the repurchase of Notes pursuant an Asset Disposition Offer. To the extent that the provisions of any securities laws or regulations conflict with provisions of this
Section 3.12 or Section 4.10, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Indenture by virtue of any conflict. 

Other than as specifically provided in this Section 3.12, any purchase pursuant to this Section 3.12 shall be made pursuant to the
provisions of Sections 3.01 through 3.06. 
 ARTICLE 4.  

COVENANTS 
 Section 4.01 Payment of
Notes 
 (a) The Issuer shall pay or cause to be paid the principal of, premium, if any, and interest and Additional Amounts, if any, on
the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid on the date due if the Principal Paying Agent, if other than the Issuer, holds on the Business Day prior to the due
date, money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal, premium and Additional Amounts, if any, and interest then due. 

Principal of, interest, premium and Additional Amounts, if any, on Global Notes will be payable, in respect of the Euro Notes, at the
corporate trust office or agency of the Principal Paying Agent maintained in London for such purposes and, in respect of the Dollar Notes, at the corporate trust office or agency of the Paying Agent maintained in the Borough of Manhattan, City of
New York, for such purposes. All payments on the Global Notes will be made by transfer of immediately available funds to an account of the Holder of the Global Notes in accordance with instructions given by that Holder. 

Principal of, interest, premium and Additional Amounts, if any, on any Definitive Registered Notes will be payable at the corporate trust
office or agency of any Paying Agent in any location required to be maintained for such purposes pursuant to Section 2.03. In addition, interest on Definitive Registered Notes may be paid by check mailed to the person entitled thereto as shown
on the Register for such Definitive Registered Notes. 
 (b) The Issuer shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue principal and premium at the rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in
any proceeding under any Bankruptcy Law) on overdue instalments of interest and Additional Amounts (without regard to any applicable grace period) at the same rate to the extent lawful. 

  
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 Section 4.02 The Maintenance of Office or Agency 

The Issuer shall maintain the offices and agencies specified in Section 2.03. The Issuer shall give prompt written notice to the Trustee
of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. For the avoidance of doubt, the Trustee shall not be required to act as Registrar. 

The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any
or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its obligations to maintain an office or agency in Luxembourg for
such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

The Issuer hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Issuer in accordance with
Section 2.03. 
 Section 4.03 Reports 

(a) So long as the Notes are outstanding, the Issuer will furnish to the Trustee without cost to the Trustee (who, at the Issuer’s
expense, will furnish to the Holders), and, in each case of clauses (2) and (3) of this Section 4.03(a), will post on its website (or make similar disclosure); provided, however, that to the extent any reports are filed on the
SEC’s website or the Issuer’s or the Ultimate Parent’s website, such reports shall be deemed to be furnished to the Trustee and the Holders: 

(1) within 150 days after the end of each fiscal year ending subsequent to the Issue Date, an annual report of the Virgin
Reporting Entity, containing the following information: (A) audited combined or consolidated balance sheets of the Virgin Reporting Entity as of the end of the two most recent fiscal years and audited combined or consolidated income statements
and statements of cash flow of the Virgin Reporting Entity for the two most recent fiscal years, in each case prepared in accordance with GAAP, including appropriate footnotes to such financial statements, and a report of the independent public
accountants on the financial statements; (B) to the extent relating to such annual periods, an operating and financial review of the audited financial statements, including a discussion of the results of operations, financial condition,
liquidity and capital resources, and critical accounting policies; and (C) to the extent not included in the audited financial statements or operating and financial review, a description of the business, management and shareholders of the
Virgin Reporting Entity and its Subsidiaries and a description of all material debt instruments; provided, however, that such reports need not (i) contain any segment data other than as required under GAAP in its financial reports with respect
to the period presented, (ii) include any exhibits or (iii) include separate financial statements for any Affiliates of the Virgin Reporting Entity or any acquired businesses; 

(2) within 60 days after each of the first three fiscal quarters in each fiscal year, a quarterly report of the Virgin
Reporting Entity containing the following information: (A) unaudited combined or consolidated financial statements of the Virgin Reporting Entity for such period, prepared in accordance with GAAP, and (B) a financial review of such period
including a comparison against the prior year’s comparable period), consisting of a discussion of (i) the results of operations and financial condition of the Virgin Reporting Entity on a consolidated basis, and material

  
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changes between the current period and the prior year’s comparable period and (ii) material developments in the business of the Virgin Reporting Entity and its Subsidiaries,
(C) financial information and trends in the business in which the Virgin Reporting Entity and its Subsidiaries are engaged and (D) information with respect to any material acquisition or disposal during the period provided, however, that
such reports need not (i) contain any segment data other than as required under GAAP in its financial reports with respect to the period presented, (ii) include any exhibits or (iii) include separate financial statements for any
Affiliates of the Virgin Reporting Entity or any acquired businesses; and 
 (3) within 10 days after the occurrence of such
event, information with respect to (A) any change in the independent public accountants of the Virgin Reporting Entity (unless such change is made in conjunction with a change in the auditor of the Ultimate Parent), (B) any material
acquisition or disposal, and (c) any material development in the business of the Issuer and the Restricted Subsidiaries. 
 (b) If the
Issuer has designated any of the Restricted Subsidiaries as Unrestricted Subsidiaries and any such Unrestricted Subsidiary or group of Unrestricted Subsidiaries constitute Significant Subsidiaries of the Issuer, then the annual and quarterly
information required by clauses (1) and (2) of Section 4.03(a) shall include a reasonably detailed presentation, either on the face of the financial statements, in the footnotes thereto or in a separate report delivered therewith, of
the financial condition and results of operations of the Issuer and the Restricted Subsidiaries separate from the financial condition and results of operations of such Unrestricted Subsidiaries. 

(c) Following any election by the Issuer to change its accounting principles in accordance with the definition of GAAP set forth in
Section 1.01, the annual and quarterly information required by clauses (1) and (2) of Section 4.03(a) shall include any reconciliation presentation required by clause 2(a) of the definition of GAAP set forth in Section 1.01.

 (d) Notwithstanding the foregoing, the Issuer may satisfy its obligations under clauses (1) and (2) of Section 4.03(a) by
delivering the corresponding consolidated annual and quarterly reports of the Issuer or any Parent of the Issuer and, following such election, references in this Section 4.03 to the “Virgin Reporting Entity” shall be deemed to refer
to the Issuer or any Parent of the Issuer (as the case may be). 
 (e) To the extent any material differences exist between the business,
assets, results of operations or financial condition of the Virgin Reporting Entity and the Issuer (excluding, for the avoidance of doubt, the effect of any intercompany balances between the Virgin Reporting Entity and the Issuer and its
Subsidiaries), the annual and quarterly reports shall give a reasonably detailed description of such differences and include an unaudited reconciliation of the Issuer’s financial statements to the financial statements of the Virgin Reporting
Entity. 
 (f) In addition, so long as the Notes remain outstanding and during any period during which the Issuer is not subject to
Section 13 or 15(d) of the Exchange Act nor exempt therefrom pursuant to Rule 12g3-2(b) of the Exchange Act, the Issuer shall furnish to the Holders of the Notes and to prospective investors, upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 Section 4.04 Compliance Certificate 

(a) The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s Certificate stating that, in
the course of the performance by the signers of their duties as officers of the Issuer they would normally have knowledge of any Default, and further stating whether or not the signers know of any Default that occurred during such period. 

(b) The Issuer shall, so long as any of the Notes are outstanding, deliver to the Trustee within 30 days after the occurrence of any Default
or Event of Default an Officer’s Certificate specifying such Default or Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. 

  
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 Section 4.05 Taxes 

The Issuer will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental
levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 

Section 4.06 Stay, Extension and Usury Laws 

The Issuer and the Guarantors agree (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any
manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and each of the Issuer and the
Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and agrees that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the
Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 
 Section 4.07 Limitation on
Restricted Payments 
 (a) The Issuer will not, and will not permit any of the Restricted Subsidiaries, directly or indirectly: 

(1) to declare or pay any dividend or make any distribution on or in respect of its Capital Stock (including any payment in
connection with any merger or consolidation involving the Issuer or any of the Restricted Subsidiaries) except: 
 (A)
dividends or distributions payable in Capital Stock of the Issuer (other than Disqualified Stock) or Subordinated Shareholder Loans; and 

(B) dividends or distributions payable to the Issuer or a Restricted Subsidiary (and if such Restricted Subsidiary is not a
Wholly Owned Subsidiary of the Issuer, to its other holders of common Capital Stock on a pro rata basis); 
 (2) to purchase,
redeem, retire or otherwise acquire for value any Capital Stock of the Issuer or any Parent of the Issuer or any Affiliate Subsidiary held by Persons other than the Issuer or a Restricted Subsidiary; 

(3) to purchase, repurchase, redeem, defease or otherwise acquire or retire for value, prior to scheduled maturity, scheduled
repayment or scheduled sinking fund payment, any Subordinated Obligations (other than (A) the purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations purchased in anticipation of satisfying a
sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of purchase, repurchase, redemption, defeasance or other acquisition or retirement or (B) Indebtedness permitted under
Section 4.09(b)(2); or 
 (4) to make any Restricted Investment in any Person; 

  
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 (any such dividend, distribution, purchase, redemption, repurchase, defeasance, other acquisition, retirement or
Restricted Investment referred to in clauses (1) through (4) is referred to herein as a “Restricted Payment”), if at the time the Issuer or such Restricted Subsidiary makes such Restricted Payment: 

(A) a Default shall have occurred and be continuing (or would result therefrom); or 

(B) the Issuer is not able to Incur an additional £1.00 of Pari Passu Indebtedness pursuant to Section 4.09(a) after
giving effect, on a pro forma basis, to such Restricted Payment; or 
 (C) the aggregate amount of such Restricted
Payment and all other Restricted Payments (the amount so expended, if other than in cash, to be determined in good faith by the Board of Directors or senior management of the Issuer) declared or made subsequent to July 25, 2006 and not returned
or rescinded would exceed the sum of: 
  

	 	(i)	50.0% of Consolidated Net Income for the period (treated as one accounting period) from the beginning of the first fiscal quarter commencing after July 25, 2006 to the end of the most recent fiscal quarter ending
prior to the date of such Restricted Payment for which financial statements are available (or, in case such Consolidated Net Income is a deficit, minus 100% of such deficit); 

 

	 	(ii)	100.0% of the aggregate Net Cash Proceeds and the fair market value, as determined in good faith by the Board of Directors or senior management of the Issuer, of marketable securities, or other property or assets,
received by the Issuer from the issue or sale of its Capital Stock (other than Disqualified Stock) or Subordinated Shareholder Loans or other capital contributions subsequent to July 25, 2006 (other than (a) Net Cash Proceeds received from
an issuance or sale of such Capital Stock to the Issuer or a Restricted Subsidiary or an employee stock ownership plan, option plan or similar trust to the extent such sale to an employee stock ownership plan or similar trust is financed by loans
from or guaranteed by the Issuer or any Restricted Subsidiary unless such loans have been repaid with cash on or prior to the date of determination or (b) Excluded Contributions; 

 

	 	(iii)	100.0% of the aggregate Net Cash Proceeds and the fair market value, as determined in good faith by the Board of Directors or senior management of the Issuer, of marketable securities, or other property or assets,
received by the Issuer or any Restricted Subsidiary from the issuance or sale (other than to the Issuer or a Restricted Subsidiary) by the Issuer or any Restricted Subsidiary subsequent to July 25, 2006 of any Indebtedness that has been
converted into or exchanged for Capital Stock of the Issuer (other than Disqualified Stock) or Subordinated Shareholder Loans; 

  
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	 	(iv)	the amount equal to the net reduction in Restricted Investments made by the Issuer or any of the Restricted Subsidiaries subsequent to July 25, 2006 resulting from: 

 

	 	(A)	repurchases, redemptions or other acquisitions or retirements of any such Restricted Investment, proceeds realized upon the sale or other disposition to a Person other than the Issuer or a Restricted Subsidiary of any
such Restricted Investment, repayments of loans or advances or other transfers of assets (including by way of dividend, distribution, interest payments or returns of capital) to the Issuer or any Restricted Subsidiary; or 

 

	 	(B)	the redesignation of Unrestricted Subsidiaries as Restricted Subsidiaries (valued, in each case, as provided in the definition of “Investment”) not to exceed, in the case of any Unrestricted Subsidiary, the
amount of Investments previously made by the Issuer or any Restricted Subsidiary in such Unrestricted Subsidiary, which amount in each case under this clause (iv) was included in the calculation of the amount of Restricted Payments; provided,
however, that no amount will be included in Consolidated Net Income for the purposes of the preceding clause (i) to the extent that it is (at the Issuer’s option) included under this clause (iv); 

 

	 	(v)	without duplication of amounts included in clause (iv), the amount by which Indebtedness of the Issuer is reduced on the Issuer’s Consolidated balance sheet upon the conversion or exchange of any Indebtedness of
the Issuer issued after July 25, 2006, which is convertible or exchangeable for Capital Stock (other than Disqualified Stock) of the Issuer issued to Persons not including the Issuer (less the amount of any cash or the Fair Market Value of
other property or assets distributed by the Issuer upon such conversion or exchange); and 

  

	 	(vi)	100% of the Net Cash Proceeds and the fair market value (as determined in accordance with the next succeeding paragraph of this Section 4.07(a)) of marketable securities, or other property or assets, received by
the Issuer or any of the Restricted Subsidiaries in connection with: (a) the sale or other disposition (other than to the Issuer or a Restricted Subsidiary or an employee stock ownership plan or trust established by the Issuer or any Subsidiary
of the Issuer for the benefit of its employees to the extent funded by the Issuer or any Restricted Subsidiary) of Capital Stock of an Unrestricted Subsidiary; and (b) any dividend or distribution made by an Unrestricted Subsidiary to the
Issuer or a Restricted Subsidiary; provided, however, that no amount will be included in Consolidated Net Income for the purposes of the preceding clause (i) to the extent that it is (at the Issuer’s option) included under this clause
(vi). 

  
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 For purposes of calculating the aggregate amount of Restricted Payments under clause
(4)(C) above declared or made subsequent to July 25, 2006 and prior to the Issue Date, any Restricted Payment which was not included in the calculation of the amount of Restricted Payments under Section 4.07(a)(C) of the 2006
Indenture shall also not be included in such calculation under clause 4(C) above. 
 The fair market value of property or assets other than
cash, for purposes of this Section 4.07, shall be the fair market value thereof as determined in good faith by the Board of Directors or senior management of the Issuer. 

(b) Section 4.07(a) will not prohibit: 

(1) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Capital Stock, Disqualified Stock,
Subordinated Shareholder Loans or Subordinated Obligations of the Issuer made by exchange (including any such exchange pursuant to the exercise of a conversion right or privilege in connection with which cash is paid in lieu of the issuance of
fractional shares) for, or out of the substantially concurrent (and in any event not more than 90 days following) sale of, or issuance of, Subordinated Shareholder Loans or, Capital Stock of the Issuer (other than Disqualified Stock or Capital Stock
issued or sold to a Subsidiary or an employee stock ownership plan or similar trust to the extent such sale to an employee stock ownership plan or similar trust is financed by loans from or guaranteed by the Issuer or any Restricted Subsidiary
unless such loans have been repaid with cash on or prior to the date of determination), or of a substantially concurrent capital contribution to the Issuer; provided, however, that (a) such purchase, repurchase, redemption,
defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of Restricted Payments and (b) the Net Cash Proceeds from such sale or issuance of Capital Stock or Subordinated Shareholder Loans or from such
capital contribution will be excluded from clause (4)(C)(ii) of Section 4.07(a); 
 (2) any purchase, repurchase,
redemption, defeasance or other acquisition or retirement of Subordinated Obligations of the Issuer or a Restricted Subsidiary made by exchange for, or out of the proceeds of the substantially concurrent (and in any event not more than 90 days
following) sale of, Subordinated Obligations of the Issuer or such Restricted Subsidiary that is permitted to be Incurred pursuant to Section 4.09 and that in each case constitutes Refinancing Indebtedness; provided, however, that such
purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of Restricted Payments; 

(3) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Disqualified Stock of the Issuer or
a Restricted Subsidiary made by exchange for, or out of the proceeds of the substantially concurrent (and in any event not more than 90 days following) sale of, Disqualified Stock of the Issuer or such Restricted Subsidiary, as the case may be,
that, in each case, is permitted to be Incurred pursuant to Section 4.09 and that in each case constitutes Refinancing Indebtedness; provided, however, that such purchase, repurchase, redemption, defeasance, acquisition or retirement will be
excluded in subsequent calculations of the amount of Restricted Payments; 
 (4) dividends paid within 60 days after the date
of declaration if at such date of declaration such dividend would have complied with this provision; provided, however, that such dividends will be included in subsequent calculations of the amount of Restricted Payments; 

  
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 (5) the purchase, repurchase, defeasance, redemption or other acquisition,
cancellation or retirement for value of Capital Stock, or options, warrants, equity appreciation rights or other rights to purchase or acquire Capital Stock of the Issuer or any Restricted Subsidiary or any parent of the Issuer held by any existing
or former employees or management of the Issuer or any Subsidiary of the Issuer or their assigns, estates or heirs, in each case in connection with the repurchase provisions under employee stock option or stock purchase agreements or other
agreements to compensate management employees; provided that such redemptions or repurchases pursuant to this clause will not exceed an amount equal to £20.0 million in the aggregate during any calendar year (with any unused
amounts in any preceding calendar year being carried over to the succeeding calendar year); provided, however, that the amount of any such repurchase or redemption will be included in subsequent calculations of the amount of Restricted
Payments; 
 (6) the declaration and payment of dividends to holders of any class or series of Disqualified Stock, or of any
Preferred Stock of a Restricted Subsidiary, Incurred in accordance with the terms of Section 4.09; provided, however, that such dividends will be excluded from subsequent calculations of the amount of Restricted Payments; 

(7) purchases, repurchases, redemptions, defeasance or other acquisitions or retirements of Capital Stock deemed to occur upon
the exercise of stock options, warrants or other convertible securities if such Capital Stock represents a portion of the exercise price thereof; provided, however, that such repurchases will be excluded from subsequent calculations of the
amount of Restricted Payments; 
 (8) the purchase, repurchase, redemption, defeasance or other acquisition or retirement for
value of any Subordinated Obligation (A) at a purchase price not greater than 101% of the principal amount of such Subordinated Obligation in the event of a Change of Control in accordance with provisions similar to Section 4.14 or
(B) at a purchase price not greater than 100% of the principal amount thereof in accordance with provisions similar to Section 3.12 and Section 4.10; provided that, prior to or simultaneously with such purchase, repurchase,
redemption, defeasance or other acquisition or retirement, the Issuer has made the Change of Control Offer or Asset Disposition Offer, as applicable, as provided in Section 3.12, Section 4.10 or Section 4.14, as the case may be, with
respect to the Notes and have completed the repurchase or redemption of all Notes validly tendered for payment in connection with such Change of Control Offer or Asset Disposition Offer; and provided, further, that such purchase,
redemption or other acquisition of Subordinated Obligations will be excluded from subsequent calculations of the amount of Restricted Payments; or (C) (i) consisting of Acquired Indebtedness (other than Indebtedness Incurred to provide all
or any portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the Issuer or a Restricted Subsidiary) and (ii) at a
purchase price not greater than 100% of the principal amount of such Subordinated Obligation plus accrued and unpaid interest and any premium required by the terms of any Acquired Indebtedness; 

(9) dividends, loans, advances or distributions to any Parent or other payments by the Issuer or any Restricted Subsidiary in
amounts equal to: 
 (A) the amounts required for any Parent to pay Parent Expenses; 

  
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 (B) the amounts required for any Parent to pay Public Offering Expenses or fees
and expenses related to any other equity or debt offering of such Parent that are directly attributable to the operation of the Issuer and the Restricted Subsidiaries; 

(C) the amounts required for any Parent to pay Related Taxes or, without duplication, pursuant to the Tax Sharing Agreement;
and 
 (D) amounts constituting payments satisfying the requirements of clauses (11) and (12) of
Section 4.11(b); 
 provided, that such dividends, loans, advances, distributions or other payments will be excluded from
subsequent calculations of the amount of Restricted Payments; 
 (10) Restricted Payments in an aggregate amount outstanding
at any time not to exceed the aggregate cash amount of Excluded Contributions, or consisting of non-cash Excluded Contributions, or Investments in exchange for or using as consideration Investments previously made under this clause, provided,
however, that the amount of such Restricted Payments will be excluded from subsequent calculations of the amount of Restricted Payments; 

(11) payments by the Issuer, or loans, advances, dividends or distributions to any parent company of the Issuer to make
payments to holders of Capital Stock of the Issuer or any parent company of the Issuer in lieu of the issuance of fractional shares of such Capital Stock; provided, however, that the net amount of such payments will be excluded from
subsequent calculations of the amount of Restricted Payments; 
 (12) [Reserved]; 

(13) so long as no Default or Event of Default of the type specified in clauses (1) or (2) under Section 6.01(a)
has occurred and is continuing, any Restricted Payment to the extent that, after giving pro forma effect to any such Restricted Payment, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00, provided, however, that
the net amount of such payments will be included in subsequent calculations of the amount of Restricted Payments; 
 (14)
Restricted Payments in an aggregate amount at any time outstanding, when taken together with all other Restricted Payments made pursuant to this clause (14), not to exceed the greater of (A) £100.0 million and (B) 3.0% of Total
Assets, in the aggregate in any calendar year (with any unused amounts in any preceding calendar year being carried over to the succeeding calendar year); provided, however, that the amount of such Restricted Payments will be included in
subsequent calculations of the amount of Restricted Payments; 
 (15) any Restricted Payments for purposes of making
corresponding payments on (A) the Convertible Senior Notes and (B) other Indebtedness of any Parent Guarantor that were (i) used in the prepayment, repayment, redemption, defeasance, retirement or purchase of the Convertible Senior
Notes, the Existing Senior Notes, the Existing Senior Secured Notes, the Senior Secured Notes, the Notes, other Indebtedness of any Restricted Subsidiary and Pari Passu Indebtedness of the Issuer (in each case, in whole or in part), or
(ii) contributed to or otherwise loaned or transferred to the Issuer or any Restricted Subsidiary; provided, however, that the amount of such payments will be excluded in subsequent calculations of the amount of Restricted Payments; 

  
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 (16) the distribution, as a dividend or otherwise, of shares of Capital Stock of
or, Indebtedness owed to the Issuer or a Restricted Subsidiary by, Unrestricted Subsidiaries; provided, however, that such distributions will be excluded from subsequent calculations of the amount of Restricted Payments; 

(17) following a Public Offering of the Issuer or any Parent, the declaration and payment by the Issuer or such Parent, or the
making of any cash payments, advances, loans, dividends or distributions to any Parent to pay, dividends or distributions on the Capital Stock, common stock or common equity interests of the Issuer or any Parent; provided that the aggregate
amount of all such dividends or distributions under this clause (17) shall not exceed in any fiscal year the greater of (A) 6.0% of the Net Cash Proceeds received from such Public Offering or subsequent Equity Offering by the Issuer or
contributed to the capital of the Issuer by any Parent of the Issuer in any form other than Indebtedness or Excluded Contributions and (B) following the Initial Public Offering, an amount equal to the greater of (i) 7.0% of the Market
Capitalization and (ii) 7.0% of the IPO Market Capitalization, provided that after giving pro forma effect to the payment of any such dividend or making of any such distribution, the Consolidated Net Leverage Ratio would not
exceed 5.00 to 1.00; provided, however, that the amount of such Restricted Payments will be included in subsequent calculations of the amount of Restricted Payments; 

(18) after the designation of any Restricted Subsidiary as an Unrestricted Subsidiary, distributions (including by way of
dividend) consisting of cash, Capital Stock or property or other assets of such Unrestricted Subsidiary that in each case is held by the Issuer or any Restricted Subsidiary; provided, however, that (A) such distribution or disposition shall
include the concurrent transfer of all liabilities (contingent or otherwise) attributable to the property or other assets being transferred; (B) any property or other assets received from any Unrestricted Subsidiary (other than Capital Stock
issued by any Unrestricted Subsidiary) may be transferred by way of distribution or disposition pursuant to this clause (18) only if such property or other assets, together with all related liabilities, is so transferred in a transaction that
is substantially concurrent with the receipt of the proceeds of such distribution or disposition by the Issuer or such Restricted Subsidiary; and (C) such distribution or disposition shall not, after giving effect to any related agreements,
result nor be likely to result in any material liability, tax or other adverse consequences to the Issuer and the Restricted Subsidiaries on a consolidated basis; provided further, however, that such distributions will be excluded from the
calculation of the amount of Restricted Payments, it being understood that proceeds from the disposition of any cash, Capital Stock or property or other assets of an Unrestricted Subsidiary that are so distributed will not increase the amount of
Restricted Payments permitted under Section 4.07(a)(4)(C)(iv); 
 (19) any Restricted Payment on common stock of the
Issuer or any Affiliate Subsidiary up to £60.0 million per year; provided, however, in each case, that such Restricted Payments will be included in the calculation of the amount of Restricted Payments; 

(20) Restricted Payments at any time outstanding made with the proceeds of any drawings under a Permitted Revolving Credit
Facility in an amount not to exceed the Revolving Facility Excluded Amount, provided that, the amount of any Restricted Payment made pursuant to this clause (20) shall be deemed to be reduced (but not below zero) by the aggregate principal
amount of any prepayment or repayment (including on a cashless basis) of any such drawings under such Permitted Revolving Credit Facility; provided, however, that, the net amount of such Restricted Payments will be included in
subsequent calculations of the amount of Restricted Payments; 

  
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 (21) any Business Division Transaction, provided, that after giving pro
forma effect thereto, the Issuer and the Restricted Subsidiaries could Incur at least £1.00 of additional Indebtedness under Section 4.09(a); provided, however, that the amount of such Restricted Payments will be
excluded from the calculation of Restricted Payments; 
 (22) any Restricted Payment from the Issuer or any Restricted
Subsidiary to the Parent or any other Subsidiary of the Parent which is not a Restricted Subsidiary; provided that such Subsidiary advances the proceeds of any such Restricted Payment to the Issuer or any other Restricted Subsidiary, as
applicable, within three days of receipt thereof and that such Restricted Payments do not exceed an amount equal to 10.0% of Total Assets at any one time; provided, however, that such Restricted Payments will be excluded from the
calculation of the amount of Restricted Payments; and 
 (23) any Restricted Payment by the Issuer or any Restricted
Subsidiary not to exceed the aggregate amount of the proceeds of the Notes and the Senior Secured Notes issued on the Issue Date and any other Restricted Payments reasonably required in connection with the UPC Ireland Acquisition; provided,
however, that the amount of such Restricted Payments will be excluded in subsequent calculations of the amount of Restricted Payments. 

(c) For purposes of determining compliance with this Section 4.07, in the event that a Restricted Payment meets the criteria of more than
one of the categories described in clauses (1) through (23) of Section 4.07(b), or is permitted pursuant to Section 4.07(a), the Issuer will be entitled to classify such Restricted Payment (or portion thereof) on the date of its
payment or later reclassify such Restricted Payment (or portion thereof) in any manner that complies with this Section 4.07. 
 (d) The
amount of all Restricted Payments (other than cash) shall be the fair market value on the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or issued by the Issuer or such Restricted Subsidiary, as the
case may be, pursuant to such Restricted Payment. The fair market value of any cash Restricted Payment shall be its face amount and any non-cash Restricted Payment shall be determined in good faith by the Board of Directors or senior management of
the Issuer. 
 Section 4.08 Limitation on Restrictions on Distributions from Restricted Subsidiaries 

(a) The Issuer will not, and will not permit any Restricted Subsidiary (other than Affiliate Subsidiaries) to, create or otherwise cause or
permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary (other than the Affiliate Subsidiaries) to: 

(1) pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness or other obligations owed to the
Issuer or any Restricted Subsidiary; 
 (2) make any loans or advances to the Issuer or any Restricted Subsidiary; or 

(3) transfer any of its property or assets to the Issuer or any Restricted Subsidiary; 

  
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 provided that (x) the priority of any Preferred Stock in receiving dividends or liquidating
distributions prior to dividends or liquidating distributions being paid on Common Stock and (y) the subordination of (including but not limited to, the application of any standstill requirements to) loans or advances made to the Issuer or any
Restricted Subsidiary to other Indebtedness Incurred by the Issuer or any Restricted Subsidiary, shall not be deemed to constitute such an encumbrance or restriction. 

(b) Section 4.08(a) will not prohibit: 

(1) any encumbrance or restriction pursuant to an agreement in effect at or entered into on the Issue Date, including, without
limitation, this Indenture, the Existing Senior Secured Notes Indentures, the Senior Secured Notes Indenture, the Existing Senior Notes Indentures, the Senior Credit Facility, the Intercreditor Deed and the security documents thereunder, in each
case, as in effect on the Issue Date; 
 (2) any encumbrance or restriction pursuant to an agreement or instrument of a
Person relating to any Capital Stock or Indebtedness of a Person, Incurred on or before the date on which such Person was acquired by or merged or consolidated with or into the Issuer or any Restricted Subsidiary, or on which such agreement or
instrument is assumed by the Issuer or any Restricted Subsidiary in connection with an acquisition of assets (other than Capital Stock or Indebtedness Incurred as consideration in, or to provide all or any portion of the funds utilized to
consummate, the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was acquired by the Issuer or was merged or consolidated with or into the Issuer or any Restricted Subsidiary or in
contemplation of such transaction) and outstanding on such date, provided, that any such encumbrance or restriction shall not extend to any assets or property of the Issuer or any other Restricted Subsidiary other than the assets and property so
acquired and provided, further, that for the purposes of this clause, if another Person is the Successor Company, any Subsidiary thereof or agreement or instrument of such Person or any such Subsidiary shall be deemed acquired or assumed by the
Issuer or any Restricted Subsidiary when such Person becomes the Successor Company; 
 (3) any encumbrance or restriction
pursuant to an agreement or instrument effecting a refunding, replacement or refinancing of Indebtedness Incurred pursuant to, or that otherwise extends, renews, refunds, refinances or replaces, an agreement referred to in clause (1) or
(2) of this Section 4.08(b) or this clause (3) or contained in any amendment, supplement or other modification to an agreement referred to in clause (1) or (2) of this Section 4.08(b) or this clause (3); provided,
however, that the encumbrances and restrictions, taken as a whole, with respect to such Restricted Subsidiary contained in any such agreement are no less favorable in any material respect to the Holders of the Notes than the encumbrances and
restrictions contained in such agreements referred to in clauses (1) or (2) of this Section 4.08(b) (as determined in good faith by the Board of Directors or senior management of the Issuer); 

(4) in the case of Section 4.08(a)(3), any encumbrance or restriction: 

(A) that restricts in a customary manner the subletting, assignment or transfer of any property or asset that is subject to a
lease, license or similar contract, or the assignment or transfer of any such lease, license or other contract; 
 (B)
contained in Liens permitted under this Indenture securing Indebtedness of the Issuer or a Restricted Subsidiary to the extent such encumbrances or restrictions restrict the transfer of the property subject to such mortgages, pledges or other
security agreements; or 
 (C) pursuant to customary provisions restricting dispositions of real property interests set forth
in any reciprocal easement agreements of the Issuer or any Restricted Subsidiary; 

  
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 (5) any encumbrance or restriction pursuant to (A) Purchase Money
Obligations for property acquired in the ordinary course of business and (B) Capitalized Lease Obligations permitted under this Indenture, in each case that impose encumbrances or restrictions of the nature described in Section 4.08(a)(3)
on the property so acquired; 
 (6) any Purchase Money Note or other Indebtedness or contractual requirements Incurred with
respect to a Qualified Receivables Transaction relating exclusively to a Receivables Entity that, in the good faith determination of the Board of Directors or senior management of the Issuer, are necessary to effect such Qualified Receivables
Transaction; 
 (7) any encumbrance or restriction with respect to a Restricted Subsidiary (or any of its property or assets)
imposed pursuant to an agreement entered into for the direct or indirect sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary (or the property or assets that are subject to such restriction)
pending the closing of such sale or disposition; 
 (8) customary provisions in leases, asset sale agreements, joint venture
agreements and other agreements and instruments entered into by the Issuer or any Restricted Subsidiary in the ordinary course of business; 

(9) encumbrances or restrictions arising or existing by reason of applicable law or any applicable rule, regulation,
governmental license or order, or required by any regulatory authority; 
 (10) any encumbrance or restriction on cash or
other deposits or net worth imposed by customers under agreements entered into in the ordinary course of business; 
 (11)
any encumbrance or restriction pursuant to Currency Agreements, Commodity Agreements or Interest Rate Agreements; and 
 (12)
any encumbrance or restriction arising pursuant to an agreement or instrument relating to any Indebtedness permitted to be Incurred subsequent to the Issue Date pursuant to the provisions of Section 4.09 if (A) the encumbrances and
restrictions taken as a whole are not materially less favorable to the Holders than the encumbrances and restrictions contained in the Senior Credit Facility, the Existing Senior Secured Notes Indentures, the Senior Secured Notes Indenture and the
Intercreditor Deed, in each case, as in effect on the Issue Date (as determined in good faith by the Board of Directors or senior management of the Issuer) or (B) such encumbrances and restrictions taken as a whole are not materially more
disadvantageous to the Holders than is customary in comparable financings (as determined in good faith by the Board of Directors or senior management of the Issuer) and, in each case, either (i) the Issuer reasonably believes that such
encumbrances and restrictions will not materially affect the Issuer’s ability to make principal or interest payments on the Notes as and when they come due or (ii) such encumbrances and restrictions apply only if a default occurs in
respect of a payment or financial covenant relating to such Indebtedness. 

  
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 Section 4.09 Limitation on Indebtedness 

(a) The Issuer will not, and will not permit any of the Restricted Subsidiaries to, Incur any Indebtedness (including Acquired Indebtedness);
provided, however: 
 (1) any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) if on the
date of such Incurrence and after giving effect thereto on a pro forma basis (A) the Consolidated Net Leverage Ratio for the Restricted Subsidiaries would not exceed 4.00 to 1.00 and (B) the Consolidated Net Leverage Ratio would not exceed
5.00 to 1.00; and 
 (2) the Issuer may Incur Pari Passu Indebtedness (including Acquired Indebtedness constituting Pari
Passu Indebtedness) if on the date of such Incurrence and after giving effect thereto on a pro forma basis the Consolidated Net Leverage Ratio for the Issuer and the Restricted Subsidiaries would not exceed 5.00 to 1.00. 

(b) Section 4.09(a) will not prohibit the Incurrence of the following Indebtedness: 

(1) Indebtedness of the Issuer and any of the Restricted Subsidiaries under Credit Facilities in the aggregate principal amount
at any one time outstanding not to exceed (A) an amount equal to the greater of (i)(a) £3,500.0 million plus (b) the amount of any Credit Facilities incurred under Section 4.09(a) or any other provision of
Section 4.09(b) to acquire any property, other assets or shares of Capital Stock of a Person and (ii) 5.0% of Total Assets, plus (B) any accrual or accretion of interest that increases the principal amount of Indebtedness under Credit
Facilities, plus (C) in the case of any refinancing of any Indebtedness permitted under this Section 4.09(b)(1) or any portion thereof, the aggregate amount of fees, underwriting discounts, premiums and other costs and expenses Incurred in
connection with such refinancing; 
 (2) Indebtedness of the Issuer owing to and held by any Restricted Subsidiary (other
than a Receivables Entity) or Indebtedness of a Restricted Subsidiary owing to and held by the Issuer or any other Restricted Subsidiary (other than a Receivables Entity); provided, however, that: 

(A) any subsequent issuance or transfer of Capital Stock or any other event which results in any such Indebtedness being
beneficially held by a Person other than the Issuer or a Restricted Subsidiary (other than a Receivables Entity); and 
 (B)
any sale or other transfer of any such Indebtedness to a Person other than the Issuer or a Restricted Subsidiary (other than a Receivables Entity), shall be deemed, in each case, to constitute an Incurrence of such Indebtedness by the Issuer or such
Restricted Subsidiary, as the case may be; 
 (3) (A) Indebtedness of the Issuer represented by the Notes (other than any
Additional Notes issued after the Issue Date) and (B) Indebtedness of the Guarantors represented by the Note Guarantees; 

(4) any Indebtedness (other than the Indebtedness described in clauses (1), (2) and (3) of this Section 4.09(b))
outstanding on the Issue Date; 
 (5) any Refinancing Indebtedness Incurred in respect of any Indebtedness described in
clauses (3), (4), (5), (6), (8), (15) or (19) of this Section 4.09(b) or Incurred pursuant to Section 4.09(a); 

  
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 (6) Indebtedness of the Issuer or a Restricted Subsidiary (A) Incurred and
outstanding on the date on which such Restricted Subsidiary was acquired by the Issuer or a Restricted Subsidiary or is merged, consolidated, amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of
related liabilities) the Issuer or any Restricted Subsidiary; (B) Incurred to provide all or a portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted
Subsidiary or was otherwise acquired by the Issuer or a Restricted Subsidiary; or (C) Incurred and outstanding on the date on which such Restricted Subsidiary was acquired by the Issuer or a Restricted Subsidiary or is merged, consolidated,
amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of related liabilities) the Issuer or any Restricted Subsidiary (other than Indebtedness Incurred in contemplation of the transaction or series of
related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the Issuer or a Restricted Subsidiary); provided, however, that with respect to clauses (A) and (B) of this
Section 4.09(b)(6) only, immediately following the consummation of the acquisition of such Restricted Subsidiary by the Issuer or such other transaction, (i) the Issuer and Restricted Subsidiaries would have been able to Incur £1.00
of additional Indebtedness pursuant to Section 4.09(a) after giving pro forma effect to the relevant acquisition or other transaction and the Incurrence of such Indebtedness pursuant to this Section 4.09(b)(6) or (ii) the
Consolidated Net Leverage Ratio would not be greater than immediately prior to such acquisition or such other transaction; 

(7) Indebtedness under Currency Agreements, Commodity Agreements and Interest Rate Agreements entered into for bona fide
hedging purposes of the Issuer and the Restricted Subsidiaries and not for speculative purposes (as determined in good faith by the Board of Directors or senior management of the Issuer); 

(8) Indebtedness consisting of (A) mortgage financings, Purchase Money Obligations or other financings, Incurred for the
purpose of financing all or any part of the purchase price or cost of design, construction, installation or improvement of property (real or personal), plant, equipment or other assets used or useful in the business of the Issuer or such Restricted
Subsidiary or (B) Indebtedness otherwise Incurred to finance the purchase, lease, rental or cost of design, development, construction, installation or improvement of property (real or personal), plant, equipment or other assets used or useful
in the business of the Issuer or such Restricted Subsidiary, whether through the direct purchase of assets or the Capital Stock of any Person owning such assets, and any Refinancing Indebtedness which refinances, replaces or refunds such
Indebtedness, in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (8) will not exceed the greater of (i) £200.0 million and
(ii) 3.0% of Total Assets at any time outstanding so long as such Indebtedness exists on the date of, or commissioning of, or contracting for, such purchase, design, development, construction, installation or improvement, or is created within
270 days thereafter; 
 (9) Indebtedness in respect of (A) workers’ compensation claims, self- insurance
obligations, performance, bid, indemnity, surety, judgment, appeal, advance payment, customs, VAT or other tax or other guarantees or other similar bonds, instruments or obligations and completion guarantees and warranties provided by the Issuer or
a Restricted Subsidiary or relating to liabilities, obligations or guarantees Incurred in the ordinary course of business or in respect of any government requirement, (B) letters of credit, bankers’ acceptances, guarantees or

  
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other similar instruments or obligations issued or relating to liabilities or obligations Incurred in the ordinary course of business, including letters of credit or similar instruments in
respect of self-insurance and workers compensation obligations, (C) the financing of insurance premiums in the ordinary course of business and (D) any customary cash management, cash pooling or netting or setting off arrangements in the
ordinary course of business; 
 (10) Indebtedness arising from agreements of the Issuer or a Restricted Subsidiary providing
for indemnification, obligations in respect of earn-outs or adjustment of purchase price or similar obligations, in each case, Incurred or assumed in connection with the disposition of any business, assets or Capital Stock of a Restricted
Subsidiary, provided that the maximum aggregate liability in respect of all such Indebtedness shall at no time exceed the gross proceeds (including the fair market value of non-cash proceeds) actually received by the Issuer and the Restricted
Subsidiaries in connection with such disposition; 
 (11) Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business, provided, however, that such Indebtedness is extinguished within thirty
Business Days of Incurrence; 
 (12) guarantees by the Issuer or any Restricted Subsidiary of Indebtedness or any other
obligation or liability of the Issuer or any Restricted Subsidiary (other than of any Indebtedness Incurred by the Issuer or Restricted Subsidiary in violation of this Section 4.09); provided, however, that if the Indebtedness being
guaranteed is subordinated in right of payment to the Notes or any Note Guarantee, then such guarantee shall be subordinated substantially to the same extent as the relevant Indebtedness guaranteed; 

(13) [Reserved]; 

(14) Subordinated Shareholder Loans Incurred by the Issuer; 

(15) [Reserved]; 

(16) Indebtedness of the Issuer or any Restricted Subsidiary in an aggregate outstanding principal amount which, when taken
together with any Refinancing Indebtedness in respect thereof and the principal amount of all other Indebtedness Incurred pursuant to this Section 4.09(b)(16) and then outstanding, will not exceed 100% of the Net Cash Proceeds received by the
Issuer from the issuance or sale (other than to the Issuer or a Restricted Subsidiary) of its Subordinated Shareholder Loans or Capital Stock or otherwise contributed to the equity of the Issuer, in each case, subsequent to February 22, 2013
(and in each case, other than through the issuance of Disqualified Stock, Preferred Stock or an Excluded Contribution); provided, however, that (A) any such Net Cash Proceeds that are so received or contributed shall be excluded
for purposes of making Restricted Payments under Section 4.07(a)(4)(C)(ii) and Section 4.07(a)(4)(C)(iii) and Section 4.07(b)(1) to the extent the Issuer or any Restricted Subsidiary Incurs Indebtedness in reliance thereon and
(B) any Net Cash Proceeds that are so received or contributed shall be excluded for purposes of Incurring Indebtedness pursuant to this clause (16) to the extent the Issuer or any Restricted Subsidiary makes a Restricted Payment under
Section 4.07(a)(4)(C)(ii) and Section 4.07(a)(4)(C)(iii) and Section 4.07(b)(1). 

  
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 (17) Indebtedness of the Issuer or any Restricted Subsidiary relating to any VAT
liabilities or deferral of PAYE taxes with the agreement of the U.K. HM Revenue and Customs (including guarantees by a Restricted Subsidiary in favor of the U.K. HM Revenue and Customs in connection with the U.K. tax liability of the Issuer or any
Restricted Subsidiary (including, without limitation, any VAT liabilities)); 
 (18) Indebtedness with Affiliates reasonably
required in connection with the UPC Ireland Acquisition; and 
 (19) in addition to the items referred to in clauses
(1) through (18) of this Section 4.09(b), Indebtedness of the Issuer and any of the Restricted Subsidiaries in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness
Incurred pursuant to this clause (19) and then outstanding, will not exceed the greater of (A) £300.0 million and (B) 3.0% of Total Assets at any time outstanding. 

(c) For purposes of determining compliance with, and the outstanding principal amount of any particular Indebtedness Incurred pursuant to and
in compliance with, this Section 4.09: 
 (1) in the event that Indebtedness meets the criteria of more than one of the
types of Indebtedness described in Section 4.09(a) and Section 4.09(b), the Issuer, in its sole discretion, will classify such item of Indebtedness on the date of its Incurrence and only be required to include the amount and type of such
Indebtedness in one of such clauses and will be permitted on the date of such Incurrence to divide and classify an item of Indebtedness in more than one of the types of Indebtedness described in Section 4.09(a) and Section 4.09(b), and,
from time to time, may reclassify all or a portion of such Indebtedness, in any manner that complies with this Section 4.09; 

(2) guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the
determination of a particular amount of Indebtedness shall not be included; 
 (3) if obligations in respect of letters of
credit are Incurred pursuant to any Credit Facility and are being treated as Incurred pursuant to Section 4.09(b)(1) and the letters of credit relate to other Indebtedness, then such other Indebtedness shall not be included; 

(4) the principal amount of any Disqualified Stock of the Issuer, or Preferred Stock of a Restricted Subsidiary, will be equal
to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation preference thereof; 

(5) Indebtedness permitted by this Section 4.09 need not be permitted solely by reference to one provision permitting such
Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this Section 4.09 permitting such Indebtedness; and 

(6) the amount of Indebtedness issued at a price that is less than the principal amount thereof will be equal to the amount of
the liability in respect thereof determined in accordance with GAAP. 
 Accrual of interest, accrual of dividends, the accretion of accreted
value, the accretion or amortization of original issue discount, the payment of interest or dividends in the form of additional Indebtedness, Preferred Stock or Disqualified Stock and increases in the amount of Indebtedness due to a change in
accounting principles will not be deemed 

  
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to be an Incurrence of Indebtedness for purposes of this Section 4.09. The amount of any Indebtedness outstanding as of any date shall be (1) the accreted value thereof in the case of
any Indebtedness issued with original issue discount and (2) the principal amount or liquidation preference thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness. 

If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be Incurred
by a Restricted Subsidiary as of such date. 
 For purposes of determining compliance with any sterling-denominated restriction on the
Incurrence of Indebtedness, the Sterling Equivalent principal amount of Indebtedness denominated in a foreign currency shall be (1) calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in
the case of term Indebtedness, or first committed or first Incurred (whichever yields the lower Sterling Equivalent), in the case of revolving credit Indebtedness; provided that if such Indebtedness is Incurred to refinance other Indebtedness
denominated in a foreign currency, and such refinancing would cause the applicable sterling-dominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such sterling-dominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced and (2) if and for so long as any such
Indebtedness is subject to an agreement intended to protect against fluctuations in currency exchange rates with respect to the currency in which such Indebtedness is denominated covering principal and interest on such Indebtedness, the swapped rate
of such Indebtedness as of the date of the applicable swap. Notwithstanding any other provision of this Section 4.09, the maximum amount of Indebtedness that the Issuer and the Restricted Subsidiaries may Incur pursuant to this
Section 4.09 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different currency from
the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated that is in effect on the date of such refinancing. 

For purposes of determining compliance with Section 4.09(a), the Sterling Equivalent principal amount of Indebtedness denominated in a
foreign currency (if such Indebtedness has not been swapped into sterling, or if such Indebtedness has been swapped into a currency other than sterling) shall be calculated using the same weighted average exchange rates for the relevant period used
in the consolidated financial statements of the Virgin Reporting Entity for calculating the Sterling Equivalent of Consolidated EBITDA denominated in the same currency as the currency in which such Indebtedness is denominated or into which it has
been swapped. 
 Section 4.10 Limitation on Sales of Assets and Subsidiary Stock 

(a) The Issuer will not, and will not permit any of the Restricted Subsidiaries to, make any Asset Disposition unless: 

(1) the Issuer or such Restricted Subsidiary, as the case may be, receives consideration (including by way of relief from, or
by any other Person assuming responsibility for, any liabilities, contingent or otherwise) at least equal to the fair market value (such fair market value to be determined on the date of contractually agreeing to such Asset Disposition), as
determined in good faith by the Board of Directors or senior management of the Issuer (including as to the value of all non-cash consideration), of the shares and assets subject to such Asset Disposition; 

  
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 (2) unless the Asset Disposition is a Permitted Asset Swap, at least 75% of the
consideration from such Asset Disposition (excluding any consideration by way of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise, other than Indebtedness) received by the Issuer or such
Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; and 
 (3) an amount equal to 100% of
the Net Available Cash from such Asset Disposition is applied by the Issuer or such Restricted Subsidiary, as the case may be: 

(A) to the extent the Issuer or any Restricted Subsidiary, as the case may be, elects (or is required by the terms of any
Indebtedness), to prepay, repay or purchase Senior Indebtedness of the Issuer (including the Notes) or any Subsidiary Guarantor or Indebtedness of a Restricted Subsidiary that is not a Subsidiary Guarantor (in each case other than Indebtedness owed
to the Issuer or an Affiliate of the Issuer) within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; provided, however, that, in connection with any prepayment, repayment or purchase of
Indebtedness pursuant to this clause (A), the Issuer or such Restricted Subsidiary will retire such Indebtedness and will cause the related commitment (if any) to be permanently reduced in an amount equal to the principal amount so prepaid, repaid
or purchased; or 
 (B) to the extent the Issuer or such Restricted Subsidiary elects to invest in or commit to invest in
Additional Assets within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; provided, however, that any such reinvestment in Additional Assets made pursuant to a definitive agreement or a
commitment approved by the Board of Directors or senior management of the Issuer that is executed or approved within such time will satisfy this requirement, so long as such investment is consummated within 6 months of such 365th day; 

provided that pending the final application of any such Net Available Cash in accordance with clause (A) or clause (B) of this
Section 4.10(a)(3), the Issuer or such Restricted Subsidiary may temporarily reduce Indebtedness or otherwise invest such Net Available Cash in any manner not prohibited by this Indenture. 

(b) Any Net Available Cash from Asset Dispositions that is not applied or invested or committed to be applied as provided in the preceding
paragraph will be deemed to constitute “Excess Proceeds”. On the 366th day after an Asset Disposition, if the aggregate amount of Excess Proceeds exceeds £250.0 million, the Issuer will be required to make an Asset Disposition
Offer in accordance with Section 3.12. 
 (c) For the purposes of this Section 4.10, the following will be deemed to be cash: 

(1) the assumption by the transferee of Indebtedness (other than Subordinated Obligations) of the Issuer or any Subsidiary
Guarantor or Indebtedness of a Restricted Subsidiary that is not a Subsidiary Guarantor and the release of the Issuer, such Subsidiary Guarantor or such Restricted Subsidiary from all liability on such Indebtedness in connection with such Asset
Disposition (in which case the Issuer will, without further action, be deemed to have applied such deemed cash to Indebtedness in accordance with Section 4.10(a)(3)(A); 

  
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 (2) securities, notes or other obligations received by the Issuer or any
Restricted Subsidiary from the transferee that are convertible by the Issuer or such Restricted Subsidiary into cash or Cash Equivalents within 180 days following the closing of such Asset Disposition; 

(3) Indebtedness of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Asset Disposition,
to the extent that the Issuer and each other Restricted Subsidiary are released from any guarantee of payment of the principal amount of such Indebtedness in connection with such Asset Disposition; 

(4) consideration consisting of Indebtedness of the Issuer or any Restricted Subsidiary; 

(5) any Designated Non-Cash Consideration received by the Issuer or any Restricted Subsidiary in such Asset Dispositions having
an aggregate fair market value not to exceed 25.0% of the consideration from such Asset Disposition (excluding any consideration received from such Asset Disposition in accordance with clauses (1) to (4) of this Section 4.10(c)) (with
the fair market value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value); and 

(6) in addition to any Designated Non-Cash Consideration received pursuant to Section 4.10(c)(5), any Designated Non-Cash
Consideration received by the Issuer or any Restricted Subsidiary in such Asset Dispositions having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this Section 4.10(c)(6)
that is at that time outstanding, not to exceed the greater of £250.0 million and 5.0% of Total Assets (with the fair market value of each item of Designated Non-Cash Consideration being measured at the time received and without giving
effect to subsequent changes in value). 
 (d) The Issuer will comply, to the extent applicable, with the requirements of Section 14(e)
of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Notes pursuant to this Indenture. To the extent that the provisions of any securities laws or regulations conflict with provisions of this
Section 4.10, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Indenture by virtue of any conflict. 

Section 4.11 Limitation on Affiliate Transactions 

(a) The Issuer will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, enter into or conduct any
transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Issuer (an “Affiliate Transaction”) involving aggregate consideration in excess of
£15.0 million for such Affiliate Transactions in any fiscal year, unless: 
 (1) the terms of such
Affiliate Transaction are not materially less favorable, taken as a whole, to the Issuer or such Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable transaction at the time of such transaction in
arm’s-length dealings with a Person who is not such an Affiliate; and 
 (2) in the event such Affiliate Transaction
involves an aggregate consideration in excess of £100.0 million, the terms of such transaction have been approved by a majority of the members of the Board of Directors of the Issuer. 

  
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 (b) Section 4.11(a) will not apply to: 

(1) any Restricted Payment permitted to be made pursuant to Section 4.07 or any Permitted Investment; 

(2) any issuance or sale of Capital Stock, options, other equity-related interests or other securities, or other payments,
awards or grants in cash, securities or otherwise pursuant to, or the funding of, or entering into, or maintenance of, any employment, consulting, collective bargaining or benefit plan, program, agreement or arrangement, related trust or other
similar agreement and other compensation arrangements, options, warrants or other rights to purchase Capital Stock of the Issuer or any Parent, restricted stock plans, long-term incentive plans, stock appreciation rights plans, participation plans
or similar employee benefits or consultant plans (including, without limitation, valuation, health, insurance, deferred compensation, severance, retirement, savings or similar plans, programs or arrangements) and/or indemnities provided on behalf of
officers, employees or directors or consultants approved by the Board of Directors of the Issuer, in each case in the ordinary course of business; 

(3) loans or advances to employees, officers or directors in the ordinary course of business of the Issuer or any of the
Restricted Subsidiaries but in any event not to exceed £10.0 million in the aggregate outstanding at any one time with respect to all loans or advances made since the Issue Date; 

(4) (A) any transaction between or among the Issuer and a Restricted Subsidiary (or an entity that becomes a Restricted
Subsidiary in connection with such transaction) or between or among Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary in connection with such transaction); and (B) any guarantees issued by the Issuer or a Restricted
Subsidiary for the benefit of the Issuer or a Restricted Subsidiary (or an entity that becomes a Restricted Subsidiary in connection with such transaction), as the case may be, in accordance with Section 4.09; 

(5) transactions with customers, clients, suppliers or purchasers or sellers of goods or services, in each case in the ordinary
course of business and otherwise in compliance with the terms of this Indenture, which, taken as a whole, are fair to the Issuer or the relevant Restricted Subsidiary in the reasonable determination of the Board of Directors or the senior management
of the Issuer or the relevant Restricted Subsidiary, as applicable, or are on terms not materially less favorable than those that could reasonably have been obtained at such time from an unaffiliated party; 

(6) loans or advances to any Affiliate of the Issuer by the Issuer or any Restricted Subsidiary, provided that the terms
of such loan or advance are fair to the Issuer or the relevant Restricted Subsidiary, as the case may be, in the reasonable determination of the Board of Directors or senior management of the Issuer or are on terms not materially less favorable than
those that could reasonably have been obtained from an unaffiliated party; 
 (7) the payment of reasonable and customary
fees paid to, and indemnity provided on behalf of, directors of the Issuer or any Restricted Subsidiary; 

  
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 (8) the performance of obligations of the Issuer or any of the Restricted
Subsidiaries under (A) the terms of any agreement to which the Issuer or any of the Restricted Subsidiaries is a party as of or on the Issue Date or (B) any agreement entered into after the Issue Date on substantially similar terms to an
agreement under clause (A) of this Section 4.11(b)(8), in each case, as these agreements may be amended, modified, supplemented, extended or renewed from time to time; provided, however, that any such agreement or amendment,
modification, supplement, extension or renewal to such agreement, in each case, entered into after the Issue Date will be permitted to the extent that its terms are not materially more disadvantageous to the Holders than the terms of the agreements
in effect on the Issue Date; 
 (9) sales or other transfers or dispositions of accounts receivable and other related assets
customarily transferred in an asset securitization transaction involving accounts receivable to a Receivables Entity in a Qualified Receivables Transaction, and acquisitions of Permitted Investments in connection with a Qualified Receivables
Transaction; 
 (10) the issuance of Capital Stock or any options, warrants or other rights to acquire Capital Stock (other
than Disqualified Stock) of the Issuer to any Affiliate; 
 (11) the payment to any Permitted Holder of all reasonable
expenses Incurred by any Permitted Holder in connection with its direct or indirect investment in the Issuer and its Subsidiaries and unpaid amounts accrued for prior periods (but after the Issue Date); 

(12) the payment to any Parent or Permitted Holder (A) of Management Fees (i) on a bona fide arm’s-length basis
in the ordinary course of business or (ii) of up to the greater of £15.0 million and 0.5% of Total Assets in any calendar year, (B) for financial advisory, financing, underwriting or placement services or in respect of other
investment banking activities, including without limitation in connection with acquisitions or divestitures, which payments are approved by a majority of the members of the Board of Directors of the Issuer or (C) of Parent Expenses; 

(13) guarantees of Indebtedness and other obligations otherwise permitted under this Indenture; 

(14) if not otherwise prohibited under this Indenture, the issuance of Capital Stock (other than Disqualified Stock) or
Subordinated Shareholder Loans (including the payment of cash interest thereon; provided that, after giving pro forma effect to any such cash interest payment, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00) of the
Issuer to any direct Parent of the Issuer or any Permitted Holder; 
 (15) arrangements with customers, clients, suppliers,
contractors, lessors or sellers of goods or services that are negotiated with an Affiliate, in each case, which are otherwise in compliance with the terms of this Indenture; provided that the terms and conditions of any such transaction or
agreement as applicable to the Issuer and the Restricted Subsidiaries, taken as a whole are fair to the Issuer and the Restricted Subsidiaries and are on terms not materially less favorable to the Issuer and the Restricted Subsidiaries than those
that could have reasonably been obtained in respect of an analogous transaction or agreement that would not constitute an Affiliate Transaction (in each case, as determined in good faith by the Board of Directors or the senior management of the
Issuer); 

  
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 (16) (A) transactions with Affiliates in their capacity as holders of
Indebtedness or Capital Stock of the Issuer or any Restricted Subsidiary, so long as such Affiliates are not treated materially more favorably than holders of such Indebtedness or Capital Stock generally, and (B) transactions with Affiliates in
their capacity as borrowers of Indebtedness from the Issuer or any Restricted Subsidiary, so long as such Affiliates are not treated materially more favorably than holders of such Indebtedness generally; 

(17) any tax sharing agreement or arrangement and payments pursuant thereto between or among the Ultimate Parent, the Issuer or
any other Person or a Restricted Subsidiary not otherwise prohibited by this Indenture and any payments or other transactions pursuant to a tax sharing agreement between the Issuer and any other Person or a Restricted Subsidiary and any other Person
with which the Issuer or any of the Restricted Subsidiaries files a consolidated tax return or with which the Issuer or any of the Restricted Subsidiaries is part of a group for tax purposes; 

(18) transactions relating to the provision of Intra-Group Services in the ordinary course of business; 

(19) transactions between any Restricted Subsidiary and Virgin Media Communications, or between the Issuer and Virgin Media
Communications, in each case, to effect or facilitate a transfer of any property or asset from the Issuer and/or any Restricted Subsidiary to another Restricted Subsidiary and/or the Issuer, as applicable; 

(20) any transaction reasonably necessary to effect the UPC Ireland Acquisition; 

(21) any transaction reasonably necessary to effect the Post-Closing Reorganizations; 

(22) any transaction in the ordinary course of business between or among the Issuer or any Restricted Subsidiary and any
Affiliate of the Issuer that is an Unrestricted Subsidiary or a joint venture or similar entity (including a Permitted Joint Venture) that would constitute an Affiliate Transaction solely because the Issuer or a Restricted Subsidiary owns an equity
interest in or otherwise controls such Unrestricted Subsidiary, joint venture or similar entity; and 
 (23) commercial
contracts entered into in the ordinary course of business between an Affiliate of the Issuer and the Issuer or any Restricted Subsidiary that are on arm’s length terms or on a basis that senior management of the Issuer reasonably believes
allocates costs fairly. 
 Section 4.12 Limitation on Liens 

The Issuer will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any
Lien (other than Permitted Liens) upon any of its property or assets (including Capital Stock of Restricted Subsidiaries), whether owned on the date of this Indenture or acquired after that date, which Lien is securing any Indebtedness (such Lien,
the “Initial Lien”), unless contemporaneously with the Incurrence of such Initial Lien effective provision is made to secure the Indebtedness due under this Indenture and the Notes or, in respect of Liens on any Guarantor’s property
or assets, such Guarantor’s Guarantee, equally and ratably with (or (a) on a junior priority basis if such Indebtedness is Senior Indebtedness of a Guarantor or (b) prior to, in the case of Liens with respect to Subordinated
Obligations of a Guarantor, as the case may be) the Indebtedness secured by such Initial Lien for so long as such Indebtedness is so secured. 

  
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 Any such Lien thereby created in favor of the Notes will be automatically and unconditionally
released and discharged upon (1) the release and discharge of the Initial Lien to which it relates, (2) any sale, exchange or transfer to any Person other than the Issuer or any Restricted Subsidiary of the property or assets secured by
such Initial Lien, (3) the full and final payment of all amounts payable by the Issuer under the Notes and this Indenture, (4) with respect to any Additional Subsidiary Guarantor the assets or the Capital Stock of which are encumbered by
such Lien, upon the release of the Additional Subsidiary Guarantee of such Additional Subsidiary Guarantor in accordance with Section 4.15 or (5) the defeasance or discharge of the Notes in accordance with Article 8 and Article 12.
Pursuant to Section 7.02(b), the Trustee may require an Officer’s Certificate or an Opinion of Counsel before taking any action under this Section 4.12. 

Section 4.13 Corporate Existence 

Subject to Article 5, the Issuer shall do or cause to be done all things necessary to preserve and keep in full force and effect: 

(1) its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with
the respective organizational documents (as the same may be amended from time to time) of the Issuer or any such Subsidiary; and 

(2) the rights (charter and statutory), licenses and franchises of the Issuer and its Subsidiaries; 

provided, however, that the Issuer shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other
existence of any of its Subsidiaries (other than the Issuer), if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Issuer and its Subsidiaries, taken as a whole, and
that the loss thereof is not adverse in any material respect to the Holders of the Notes. 
 Section 4.14 Change of Control 

(a) Upon the occurrence of a Change of Control at any time, the Issuer shall, pursuant to the procedures described in this Section 4.14,
offer (the “Change of Control Offer”) to purchase all Notes in whole or in part in denominations of $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes, and €100,000 and in integral
multiples of €1,000 in excess thereof, in the case of the Euro Notes, at a purchase price (the “Change of Control Purchase Price”) in cash in an amount equal to 101% of the principal amount of such Notes, plus any Additional
Amounts and accrued and unpaid interest, if any, to the date of purchase (the “Change of Control Purchase Date”) (subject to the rights of Holders of record on relevant record dates to receive interest due on an Interest Payment
Date); provided, however, that the Issuer shall not be obliged to repurchase Notes as described in this Section 4.14 in the event and to the extent that it has unconditionally exercised its right to redeem all of the Notes
pursuant to Section 3.07 or all conditions to such redemption have been satisfied or waived. No such purchase in part shall reduce the principal amount at maturity of the Notes held by any Holder to below $200,000, in the case of the Dollar
Notes, and €100,000, in the case of the Euro Notes. 
 (b) Unless the Issuer has unconditionally exercised its right to redeem all the
Notes as described under Section 3.07 or all conditions to such redemption have been satisfied or waived, within 30 days of any Change of Control, or, at the Issuer’s option, at any time prior to a Change of Control following the public
announcement thereof or if a definitive agreement is in place for the Change of Control, the Issuer shall notify the Trustee thereof and give written notice of such Change of Control to each Holder stating to the extent relevant, among other things:

 (1) that a Change of Control has occurred (or may occur) and the date (or expected date) of such event; 

  
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 (2) the circumstances and relevant facts regarding such Change of Control; 

(3) the purchase price and the purchase date which shall be fixed by the Issuer on a Business Day no earlier than 10 days nor
later than 60 days from the date such notice is mailed, or delivered, or such later date as is necessary to comply with requirements under the Exchange Act; 

(4) that any Note not tendered will continue to accrue interest and unless the Issuer defaults in payment of the Change of
Control Purchase Price, any Notes accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Purchase Date; and 

(5) certain other procedures that a Holder must follow to accept a Change of Control Offer or to withdraw such acceptance. 

If and, for so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted for trading on the Euro MTF and
the rules of the Luxembourg Stock Exchange so require, the Issuer will publish a public announcement with respect to the results of any Change of Control Offer in a leading newspaper of general circulation in Luxembourg or, to the extent and in the
manner permitted by such rules, post such notice on the official website of the Luxembourg Stock Exchange. 
 The Issuer will comply with
the applicable tender offer rules, including Rule 14e-1 under the Exchange Act, and any other applicable securities laws or regulations in connection with a Change of Control Offer. To the extent that the provisions of any applicable securities laws
or regulations conflict with the provisions of this Section 4.14 (other than the obligation to make an offer pursuant to this Section 4.14), the Issuer will comply with the securities laws and regulations and will not be deemed to have
breached its obligations described in this Section 4.14 by virtue thereof. 
 (c) On the Change of Control Purchase Date, the Issuer
shall, to the extent lawful: 
 (1) accept for payment all Notes or portions of Notes properly tendered pursuant to the
Change of Control Offer; 
 (2) deposit with the Paying Agent, prior to 10:00 a.m. London time an amount equal to the Change
of Control Purchase Price in respect of all Notes or portions of Notes properly tendered; and 
 (3) deliver or cause to be
delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Issuer. 

The Paying Agent will promptly mail (but in any case not later than five days after the Change of Control Purchase Date) to each Holder
properly tendered the Change of Control Purchase Price for such Notes, and the Authenticating Agent will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased
portion of the Notes surrendered, if any. The Issuer will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Purchase Date. 

  
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 (d) Notwithstanding anything to the contrary in this Section 4.14, the Issuer shall not be
required to make a Change of Control Offer upon a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.14 and
purchases all Notes validly tendered and not withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to Section 3.07, unless and until there is a default in payment of the applicable redemption
price. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of
making of the Change of Control Offer. 
 (e) If holders of not less than 90% in aggregate principal amount of the outstanding Notes validly
tender and do not withdraw such Notes in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of the Issuer as described above, purchases all of the Notes validly tendered and not withdrawn by such
holders, the Issuer or such third party will have the right, upon not less than 10 nor more than 60 days’ prior notice, given not more than 30 days following such purchase pursuant to the Change of Control Offer described above, to redeem all
Notes that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to but excluding the date of the delivery of the notice for such redemption. 

Section 4.15 Limitation on Issuances of Guarantees of Indebtedness by Restricted Subsidiaries 

(a) No Restricted Subsidiary (other than the Issuer or a Guarantor) shall guarantee or otherwise become obligated under any Indebtedness under
the Existing Senior Notes or guarantee any other Indebtedness of the Issuer or any Guarantor in an amount in excess of £50.0 million, unless such Restricted Subsidiary is or becomes an Additional Guarantor on the date on which such other
guarantee or Indebtedness is Incurred (or as soon as reasonably practicable thereafter) and, if applicable, executes and delivers to the Trustee a supplemental indenture in the form set forth in Exhibit E hereto pursuant to which such
Restricted Subsidiary will provide an Additional Subsidiary Guarantee (which Additional Subsidiary Guarantee shall be subordinated to Senior Indebtedness of such Additional Guarantor and senior to or pari passu with such Restricted
Subsidiary’s guarantee of such other Indebtedness); provided that: 
 (1) if such Restricted Subsidiary is not a
Significant Subsidiary, such Restricted Subsidiary shall only be obligated to become an Additional Guarantor if such Indebtedness is Indebtedness of the Issuer or Public Debt of a Guarantor; 

(2) an Additional Guarantor’s Additional Subsidiary Guarantee may be limited in amount to the extent required by
fraudulent conveyance, thin capitalization, corporate benefit, financial assistance or other similar laws (but, in such a case (A) each of the Issuer and the Restricted Subsidiaries will use their reasonable best efforts to overcome the
relevant legal limit and will procure that the relevant Restricted Subsidiary undertakes all whitewash or similar procedures which are legally available to eliminate the relevant limit and (B) the relevant guarantee shall be given on an equal
and ratable basis with the guarantee of any other Indebtedness giving rise to the obligation to guarantee the Notes); and 

(3) for so long as it is not permissible under applicable law for a Restricted Subsidiary to become an Additional Guarantor,
such Restricted Subsidiary need not become an Additional Guarantor (but, in such a case, each of the Issuer and the Restricted Subsidiaries will use their reasonable best efforts to overcome the relevant legal prohibition precluding the giving of
the guarantee and will procure that the relevant Restricted Subsidiary undertakes all whitewash or similar procedures which are legally available to eliminate the relevant legal prohibition, and shall give such guarantee at such time (and to the
extent) that it thereafter becomes permissible). 

  
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 (b) Section 4.15(a) shall not apply to: (1) the granting by such Restricted Subsidiary
of a Permitted Lien under circumstances which do not otherwise constitute the guarantee of Indebtedness of the Issuer; or (2) the guarantee by any Restricted Subsidiary of Indebtedness that refinances Indebtedness which benefited from a
guarantee by any Restricted Subsidiary Incurred in compliance with this Section 4.15 immediately prior to such refinancing. 
 (c)
Notwithstanding the foregoing, any guarantee of the Notes created pursuant to the provisions described in Section 4.15(a) shall provide by its terms that it shall be automatically and unconditionally released and discharged upon the occurrence
of any events as set forth in clauses (1) through (9) of Section 10.05. 
 (d) Notwithstanding any of the foregoing, in all
circumstances a Note Guarantee shall only be released pursuant to Section 4.15(c) if (1) the Issuer has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided
for in this Indenture relating to such transaction have been complied with and (2) such Guarantor is released from its guarantees of the Existing Senior Notes. 

Section 4.16 Payments for Consents 

The Issuer will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any
consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture, the Notes, the Intercreditor Deed unless such consideration is offered to be paid and
is paid to all Holders of the Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement. 

Section 4.17 Limitation on Layering 

The Issuer or any Guarantors may not Incur any Indebtedness that is subordinated in right of payment to other Senior Indebtedness of the Issuer
or any Guarantor that ranks pari passu with the Notes or Note Guarantee, as applicable, unless such Indebtedness Incurred by the Issuer or any Guarantor is also subordinated or pari passu to the Notes or the relevant Note Guarantee;
provided, however, that no Indebtedness will be deemed to be contractually subordinated in right of payment to any other Indebtedness of the Issuer or any Guarantor solely by virtue of being unsecured, by virtue of being secured with
different collateral, by virtue of being secured on a junior priority basis or by virtue of the application of waterfall or other payment-ordering provisions. 

Section 4.18 Additional Amounts 
 All
payments made by the Issuer, any Guarantor or any successor thereto (a “Payor”) on the Notes (including any Note Guarantee for the purposes of this Section 4.18) will be made without withholding or deduction for, or on account
of, any present or future taxes (including interest penalties to the extent resulting from a failure by the Issuer to timely pay amounts due), duties, assessments or governmental charges of whatever nature

  
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(“Taxes”) unless the withholding or deduction of such Taxes is then required by law or by the official interpretation or administration thereof. If any deduction or withholding
for, or on account of, any Taxes imposed or levied by or on behalf of: 
 (1) the government of the United Kingdom or any
political subdivision or governmental authority thereof or therein having power to tax; 
 (2) any jurisdiction from or
through which payment on the Notes is made, or any political subdivision or governmental authority thereof or therein having the power to tax; or 

(3) any other jurisdiction in which a Payor is organized or otherwise considered to be a resident for tax purposes, or any
political subdivision or governmental authority thereof or therein having the power to tax (each of clause (1), (2) and (3), a “Relevant Taxing Jurisdiction”), 

will at any time be required from any payments made with respect to the Notes, including payments of principal, redemption price, interest or premium,
the Payor will pay (together with such payments) such additional amounts (the “Additional Amounts”) as may be necessary in order that the net amounts received in respect of such payments by each Holder, as the case may be, after
such withholding or deduction (including any such deduction or withholding from such Additional Amounts) equal the amounts which would have been received in respect of such payments in the absence of such withholding or deduction; provided,
however, that no such Additional Amounts will be payable with respect to: 
  

	 	(A)	any Taxes that would not have been so imposed but for the existence of any present or former connection between the relevant Holder or beneficial owner and the Relevant Taxing Jurisdiction imposing such Taxes (other
than the mere ownership or holding of such Note or enforcement of rights thereunder or under this Indenture or the receipt of payments in respect thereof); 

  

	 	(B)	any Taxes that would not have been so imposed if the Holder had made a declaration of non-residence or any other claim or filing for exemption to which it is entitled (provided that (i) such declaration of
non-residence or other claim or filing for exemption is required by the applicable law of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such Taxes and (ii) at
least 30 days prior to the first payment date with respect to which such declaration of non-residence or other claim or filing for exemption is required under the applicable law of the Relevant Taxing Jurisdiction, the relevant Holder at that time
has been notified (in accordance with the procedures set forth in this Indenture) by the Payor or any other person through whom payment may be made that a declaration of non-residence or other claim or filing for exemption is required to be made but
only to the extent the holder is legally entitled to provide such declaration, claim or filing); 

  

	 	(C)	any Note presented for payment (where presentation is required) more than 30 days after the relevant payment is first made available for payment to the Holder (except to the extent that the Holder would have been
entitled to Additional Amounts had the Note been presented during such 30-day period); 

  
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	 	(D)	any Taxes that are payable otherwise than by withholding from a payment of the principal of, premium, if any, or interest on the Notes; 

 

	 	(E)	any estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental charge; 

  

	 	(F)	Taxes withheld or deducted on a payment required to be withheld or deducted pursuant to the European Council Directive 2003/48/EC or any other directive implementing the conclusions of the ECOFIN meeting of
November 26-27, 2000 on the taxation of savings income or any law implementing or complying with, or introduced in order to conform to, such directive; 

  

	 	(G)	any Taxes which could have been avoided by the presentation (where presentation is required) of the relevant Note to another Paying Agent in a member state of the European Union; 

 

	 	(H)	all United States backup withholding taxes; 

  

	 	(I)	any withholding or deduction imposed pursuant to (i) Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986 (as amended), as of the Issue Date (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof; (ii) any treaty, law, regulation or other official guidance enacted in any other jurisdiction,
or relating to an intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation of (i) above or (iii) any agreement pursuant to the implementation of (i) or
(ii) above with the US Internal Revenue Service, the US government or any governmental or taxation authority in any other jurisdiction; or 

  

	 	(J)	any combination of items (A) through (I) above. 

 Such Additional Amounts will also
not be payable where, had the beneficial owner of the Note been the Holder, it would not have been entitled to payment of Additional Amounts by reason of any of clauses (A) to (J) inclusive of this Section 4.18. 

The Payor will (a) make any required withholding or deduction and (b) remit the full amount deducted or withheld to the Relevant
Taxing Jurisdiction in accordance with applicable law. The Payor will use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Relevant Taxing Jurisdiction imposing
such Taxes and will provide such certified copies (or, if certified copies are not available despite reasonable efforts of the Payor, other evidence of payment reasonably satisfactory to the Trustee) to each Holder. The Payor will attach to each
certified copy (or other evidence) a certificate stating (x) that the amount of withholding Taxes evidenced by the certified copy was paid in connection with payments in respect of the principal amount of Notes then outstanding and (y) the
amount of such withholding Taxes paid per €1,000 or $1,000 principal amount of the Notes, as the case may be. Copies of such documentation will be available for inspection during ordinary business hours at the office of the Trustee by the
Holders upon request and will be made available at the offices of the Paying Agent if the Notes are then listed on the Luxembourg Stock Exchange. 

At least 30 days prior to each date on which any payment under or with respect to the Notes is due and payable (unless such obligation to pay
Additional Amounts 

  
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arises shortly before or after the 30th day prior to such date, in which case it shall be promptly thereafter), if the Payor will be obligated to pay Additional Amounts with respect to such
payment, the Payor will deliver to the Trustee an Officer’s Certificate stating the fact that such Additional Amounts will be payable, the amounts so payable and will set forth such other information necessary to enable the Trustee to pay such
Additional Amounts to Holders on the payment date. Each such Officer’s Certificate shall be relied upon until receipt of a further Officer’s Certificate addressing such matters. The Trustee shall be entitled to rely solely on each such
Officer’s Certificate as conclusive proof that such payments are necessary. 
 Wherever mentioned in this Indenture or the Notes, in
any context: (1) the payment of principal, (2) purchase prices in connection with a purchase of Notes, (3) interest, or (4) any other amount payable on or with respect to the Notes, such reference shall be deemed to include
payment of Additional Amounts as described under this heading to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. 

The Payor will pay any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies
(including interest and penalties to the extent resulting from a failure by the Issuer to timely pay amounts due) which arise in any jurisdiction from the execution, delivery or registration of any Notes or any other document or instrument referred
to therein (other than a transfer of the Notes), or the receipt of any payments with respect to the Notes, excluding any such taxes, charges or similar levies imposed by any jurisdiction that is not a Relevant Taxing Jurisdiction or any jurisdiction
in which a Paying Agent is located, other than those resulting from, or required to be paid in connection with, the enforcement of the Notes or any other such document or instrument following the occurrence of any Event of Default with respect to
the Notes. 
 The obligations of this Section 4.18 will survive any termination, defeasance or discharge of this Indenture and will
apply mutatis mutandis to any jurisdiction in which any successor to a Payor is organized or any political subdivision or taxing authority or agency thereof or therein. 

Section 4.19 Suspension of Covenants on Achievement of Investment Grade Status 

If, during any period after the Issue Date, the Notes have achieved and continue to maintain Investment Grade Status and no Event of Default
has occurred and is continuing (such period hereinafter referred to as an “Investment Grade Status Period”), then the Issuer will notify the Trustee of this fact and beginning on the date such status was achieved, the provisions of
Sections 3.12, 4.07, 4.08, 4.09, 4.10, 4.11, 4.14, 5.01(a)(3) and 5.01(b)(3) and any related default provisions of this Indenture will be suspended and will not, during such Investment Grade Status Period, be applicable to the Issuer and the
Restricted Subsidiaries. No action taken during an Investment Grade Status Period or prior to an Investment Grade Status Period in compliance with the covenants then applicable will require reversal or constitute a Default under this Indenture or
the Notes in the event that suspended covenants are subsequently reinstated or suspended, as the case may be. An Investment Grade Status Period will terminate immediately upon the failure of the Notes to maintain Investment Grade Status (the
“Reinstatement Date”). The Issuer will promptly notify the Trustee in writing of any failure of the Notes to maintain Investment Grade Status and the Reinstatement Date. 

Section 4.20 Further Instruments and Acts 

Upon request of the Trustee, but without an affirmative duty on the Trustee to do so, the Issuer shall execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

  
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 Section 4.21 Listing 

The Issuer will apply to list the Notes on the Official List of the Luxembourg Stock Exchange and will use all reasonable efforts to have the
Notes admitted to trading on the Euro MTF within a reasonable period after the Issue Date and will maintain such listing as long as the Notes are outstanding; provided, however, that if the Issuer can no longer maintain such listing or
it becomes unduly burdensome to make or maintain such listing (for the avoidance of doubt, preparation of financial statements in accordance with GAAP or any accounting standard other than GAAP and any other standard pursuant to which the Issuer
then prepares its financial statements shall be deemed unduly burdensome), the Issuer may cease to make or maintain such listing on the Luxembourg Stock Exchange provided that the Issuer will use its reasonable best efforts to obtain and
maintain the listing of the Notes on another recognized listing exchange for high yield issuers (which may be a stock exchange that is not regulated by the European Union). 

Section 4.22 [Reserved] 
 Section 4.23
Intercreditor Deed 
 The Trustee will become party to the Intercreditor Deed by executing an accession and/or amendment thereto on or
about the Issue Date, and each Holder, by accepting a Note, will be deemed to have (a) authorized the Trustee to enter into the Intercreditor Deed, (b) agreed to be bound by all the terms and provisions of the Intercreditor Deed applicable
to such Holder and (c) irrevocably appointed the Trustee to act on its behalf and to perform the duties and exercise the rights, powers and discretions that are specifically given to it under the Intercreditor Deed. 

At the direction of the Issuer and without the consent of the Holders, the Trustee will upon direction of the Issuer from time to time enter
into one or more amendments to the Intercreditor Deed to: (a) cure any ambiguity, omission, defect or inconsistency therein; (b) add Guarantors or other parties (such as representatives of new issuances of Indebtedness) thereto;
(c) secure the Notes (including Additional Notes) and any other Indebtedness permitted by the terms of this Indenture to be Incurred and secured by a Lien; (d) make any other change to the Intercreditor Deed to provide for additional
Indebtedness (including with respect to the Intercreditor Deed, the addition of provisions relating to new Indebtedness ranking junior in right of payment to the Notes) or other obligations that are permitted by the terms of this Indenture to be
Incurred and secured by a Lien on any collateral on a pari passu or junior basis with the Liens securing the Notes or the Note Guarantees, (e) add Restricted Subsidiaries to the Intercreditor Deed, (f) amend the Intercreditor Deed
in accordance with the terms thereof or; (g) make any change necessary or desirable, in the good faith determination of the Board of Directors or senior management of the Issuer, in order to implement any transaction that is subject to
Section 5.01; (h) implement any transaction in connection with the renewal, extension, refinancing, replacement or increase of the Credit Facilities that is not prohibited by this Indenture; or (i) make any other change thereto that
does not adversely affect the rights of the Holders in any material respect; provided that no such changes shall be permitted to the extent they affect the ranking of any Note or Note Guarantee or the release of any Note Guarantees in a
manner than would adversely affect the rights of the Holders in any material respect except as otherwise permitted by this Indenture or the Intercreditor Deed immediately prior to such change. The Issuer will not otherwise direct the Trustee to
enter into any amendment to the Intercreditor Deed without the consent of the holders of a majority in principal amount of the outstanding Notes outstanding, except as otherwise permitted under Article 9 and the Issuer

  
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may only direct the Trustee to enter into any amendment to the extent such amendment does not impose any personal obligations on the Trustee or, in the opinion of the Trustee, adversely affect
their respective rights, duties, liabilities or immunities under this Indenture or the Intercreditor Deed. 
 Each Holder, by accepting a
Note, will be deemed to have: 
 (a) appointed and authorized the Trustee from time to time to give effect to such provisions; and 

(b) irrevocably appointed the Trustee to act on its behalf from time to time to enter into and comply with such provisions and the provisions
described above, 
 in each case, without the need for the consent of the Holders. 

In relation to the Intercreditor Deed, the Trustee shall consent on behalf of the Holders to the payment, repayment, purchase, repurchase,
defeasance, acquisition, retirement or redemption of any obligations subordinated to the Notes thereby; provided, however, that such transaction would comply with Section 4.07. 

ARTICLE 5. 

SUCCESSORS 
 Section 5.01
Merger and Consolidation 
 (a) No Parent Guarantor will consolidate with, or merge with or into, or convey, transfer or lease all or
substantially all its assets to, any Person, unless: 
 (1) the resulting, surviving or transferee Person (the
“Successor Company”) will be a corporation, partnership, trust or limited liability company organized and existing under the laws of any member of the state of the European Union that is a member of the European Union on the Issue Date,
Bermuda, the Cayman Islands, or the United States of America, any State of the United States or the District of Columbia and the Successor Company (if not the Issuer or such Parent Guarantor) will expressly assume, by supplemental indenture,
executed and delivered to the Trustee, in form satisfactory to the Trustee and as set forth in Exhibit E hereto, all the obligations of such Parent Guarantor under the Notes and this Indenture and expressly assumes all obligations of such
Parent Guarantor under the Intercreditor Deed pursuant to agreements reasonably satisfactory to the Trustee; 
 (2)
immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the Successor Company or any Subsidiary of the Successor Company as a result of such transaction as having been Incurred by the
Successor Company or such Subsidiary at the time of such transaction), no Default or Event of Default shall have occurred and be continuing; 

(3) either (A) immediately after giving effect to such transaction, the Issuer would be able to Incur at least an
additional £1.00 of Pari Passu Indebtedness pursuant to Section 4.09(a) or (B) the Consolidated Net Leverage Ratio of the Issuer and the Restricted Subsidiaries, would be no greater than that of the Issuer immediately prior to giving
effect to such transaction; and 
 (4) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer complies with this Indenture; provided that in giving such opinion, such counsel may rely on an Officer’s Certificate as to compliance with clauses (2) and
(3) of Section 5.01(a) and as to any matters of fact. 

  
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 (b) The Issuer will not consolidate with, or merge with or into, or convey, transfer or lease all
or substantially all its assets to, any Person, unless: 
 (1) the Successor Company will be a corporation,
partnership, trust or limited liability company organized and existing under the laws of any member of the state of the European Union that is a member of the European Union on the Issue Date, Bermuda, the Cayman Islands, or the United States of
America, any State of the United States or the District of Columbia and the Successor Company (if not the Issuer) will expressly assume, by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee and as set
forth in Exhibit E hereto, all the obligations of the Issuer under the Notes and this Indenture and expressly assumes all obligations of the Issuer under the Intercreditor Deed pursuant to agreements reasonably satisfactory to the Trustee;

 (2) immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the
Successor Company or any Subsidiary of the Successor Company as a result of such transaction as having been Incurred by the Successor Company or such Subsidiary at the time of such transaction), no Default or Event of Default shall have occurred and
be continuing; 
 (3) either (A) immediately after giving effect to such transaction, the Issuer or such Successor
Company would be able to Incur at least an additional £1.00 of Pari Passu Indebtedness pursuant to Section 4.09(a) or (B) the Consolidated Net Leverage Ratio of the Issuer and the Restricted Subsidiaries or such Successor Company and
the Restricted Subsidiaries would be no greater than that of the Issuer immediately prior to giving effect to such transaction; and 

(4) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
such consolidation, merger or transfer complies with this Indenture; provided that in giving such opinion, such counsel may rely on an Officer’s Certificate as to compliance with clauses (2) and (3) of Section 5.01(b) as
to any matters of fact. 
 (c) A Subsidiary Guarantor will not consolidate with, or merge with or into, or convey, transfer or lease all or
substantially all its assets to, any Person, other than the Issuer or another Subsidiary Guarantor (other than in connection with a transaction that does not constitute an Asset Disposition or a transaction that is permitted under
Section 4.10), unless: 
 (1) immediately after giving effect to that transaction, no Default or Event of Default shall
have occurred and be continuing; and 
 (2) either: 

(A) the Successor Company assumes all the obligations of that Guarantor under its Note Guarantee, this Indenture and the
Intercreditor Deed to which such Guarantor is a party pursuant to agreements reasonably satisfactory to the Trustee; or 

(B) the Net Cash Proceeds of such sale or other disposition are applied in accordance with the applicable provisions of this
Indenture. 

  
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 (d) For purposes of this Section 5.01, the sale, lease, conveyance, assignment, transfer, or
other disposition of all or substantially all of the properties and assets of one or more Subsidiaries of the Issuer or a Guarantor, which properties and assets, if held by the Issuer or such Guarantor, as applicable, instead of such Subsidiaries,
would constitute all or substantially all of the properties and assets of the Issuer or such Guarantor, as applicable, on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Issuer
or such Guarantor, as applicable. 
 (e) The Successor Company will succeed to, and be substituted for, and may exercise every right and
power of, the relevant Guarantor or the Issuer, as the case may be, under this Indenture, and upon such substitution, the predecessor to such Guarantor or the Issuer, as the case may be, will be released from its obligations under this Indenture and
the Notes, but, in the case of a lease of all or substantially all its assets, the predecessor to such Guarantor or the Issuer will not be released from the obligation to pay the principal of and interest on the Notes. 

(f) The provisions set forth in this Section 5.01 shall not restrict (and shall not apply to): (1) any Restricted Subsidiary that is
not a Subsidiary Guarantor from consolidating with, merging or liquidating into or transferring all or substantially all of its properties and assets to the Issuer, a Subsidiary Guarantor or any other Restricted Subsidiary that is not a Subsidiary
Guarantor; (2) any Subsidiary Guarantor from merging or liquidating into or transferring all or part of its properties and assets to the Issuer or another Subsidiary Guarantor; (3) any consolidation or merger of the Issuer into any
Guarantor, provided that, for the purposes of this clause (3) of Section 5.01(f), if the Issuer is not the surviving entity of such merger or consolidation, the relevant Guarantor will assume the obligations of the Issuer under the
Notes, this Indenture, the Intercreditor Deed and clauses (1) and (4) under Section 5.01(b) shall apply to such transaction; (4) any Parent Guarantor from consolidating with, merging into or transferring all or part of its
properties and assets to any other Parent Guarantor; and (5) the Issuer or any Guarantor consolidating into or merging or combining with an Affiliate incorporated or organized for the purpose of changing the legal domicile of such entity,
reincorporating such entity in another jurisdiction, or changing the legal form of such entity, provided that, for the purposes of this clause (5) of this Section 5.01(f), clauses (1), (2) and (4) under
Section 5.01(a) or Section 5.01(b) or clauses (1) or (2) under Section 5.01(c), as the case may be, shall apply to any such transaction. 

Section 5.02 Successor Corporation Substituted 

Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all
of the properties or assets of the Issuer in a transaction that is subject to, and that complies with the provisions of, Section 5.01, the successor Person formed by such consolidation or into or with which the Issuer is merged or to which such
sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition,
the provisions of this Indenture referring to the “Issuer” shall refer instead to the successor Person and not to the Issuer), and may exercise every right and power of the Issuer under this Indenture with the same effect as if such
successor Person had been named as the Issuer herein; provided, however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of and interest on the Notes except in the case of a sale of all of the
Issuer’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01. 

  
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 ARTICLE 6. 

DEFAULTS AND REMEDIES 

Section 6.01 Events of Default 
 (a)
Each of the following is an “Event of Default”: 
 (1) default in any payment of interest or Additional
Amounts on any Note when due, which has continued for 30 days; 
 (2) default in the payment of principal of or premium, if
any, on any Note when due at its Stated Maturity, upon optional redemption, upon required repurchase or otherwise; 
 (3)
failure by the Issuer or any Guarantor to comply for 60 days after the notice specified in this Indenture with its other agreements contained in the Notes, this Indenture; the Intercreditor Deed; provided, however, that the Issuer or any Guarantor
shall have 90 days after receipt of such notice to remedy, or receive a waiver for, any failure to comply with the obligations to file annual, quarterly and current reports in accordance with Section 4.03 so long as the Issuer or any Guarantor
are attempting to cure such failure as promptly as reasonably practicable; 
 (4) default under any mortgage, indenture or
instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Issuer or any of the Restricted Subsidiaries (or the payment of which is guaranteed by the Issuer or any of the
Restricted Subsidiaries), other than Indebtedness owed to the Issuer or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists, or is created after the Issue Date, which default: 

(A) is caused by a failure to pay principal of such Indebtedness at its Stated Maturity after giving effect to any applicable
grace period provided in such Indebtedness (“payment default”); or 
 (B) results in the acceleration of
such Indebtedness prior to its maturity (the “cross acceleration provision”); 
 and, in each case, the principal amount of any
such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a payment default or the maturity of which has been so accelerated, aggregates £75.0 million or more; 

(5) (A) a proceeding is commenced seeking a decree or order for (i) relief in respect of the Issuer, a Significant
Subsidiary, or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary, in an involuntary
case under any applicable Bankruptcy Law, (ii) appointment of a receiver, liquidator, assignee, custodian, trustee, examiner, administrator, sequestrator or similar official of the Issuer, a Significant Subsidiary or group of Restricted
Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary, or for all or substantially all of the property and
assets of the Issuer, a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a
Significant Subsidiary, or (iii) the winding up or liquidation of the affairs of the Issuer, a 

  
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Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to
Section 4.03), would constitute a Significant Subsidiary (other than, except in the case of the Issuer, a solvent winding up or liquidation in connection with a transfer of assets among the Issuer and the Restricted Subsidiaries) and, in each
case, such proceeding shall remain unstayed and in effect for a period of 30 consecutive days; or (B) other than, except in the case of the Issuer, in relation to a solvent winding up or liquidation in connection with a transfer of assets among
the Issuer and the Restricted Subsidiaries, the Issuer, a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to
Section 4.03), would constitute a Significant Subsidiary (i) commences a voluntary case (including taking any action for the purpose of winding up) under any applicable Bankruptcy Law, or consents to the entry of an order for relief in an
involuntary case under any such law, (ii) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, examiner, administrator, sequestrator or similar official of the Issuer, a Significant
Subsidiary, or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary, or for all or
substantially all of the property and assets of the Issuer, a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to
Section 4.03), would constitute a Significant Subsidiary, or (iii) effects any general assignment for the benefit of creditors; 

(6) failure by the Issuer, any Guarantor or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together
(as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary, to pay final judgments aggregating in excess of £75.0 million (net of any
amounts that a solvent insurance company has acknowledged liability for), which judgments are not paid, discharged or stayed for a period of 60 days (the “judgment default provision”); or 

(7) any Note Guarantee of a Significant Subsidiary ceases to be in full force and effect (except in accordance with the terms
of this Indenture) or is declared invalid or unenforceable in a judicial proceeding and such Default continues for 30 days after the notice specified in this Indenture. 

(b) However, a default under clauses (3) or (7) of Section 6.01(a) will not constitute an Event of Default until the Trustee or
the Holders of 25% in principal amount of the outstanding Notes notify the Issuer of the default and the Issuer does not cure such default within the time specified in clauses (3) or (7) of Section 6.01(a) after receipt of such
notice. 
 Section 6.02 Acceleration 

If an Event of Default (other than an Event of Default described in Section 6.01(a)(5)) occurs and is continuing, the Trustee by notice to
the Issuer, or the Holders of at least 25% in principal amount of the outstanding Notes by notice to the Issuer and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal of, premium, if any, and accrued and
unpaid interest, if any, and Additional Amounts, if any, on all the Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and unpaid interest and Additional Amounts, if any, will be due and payable immediately. In
the event of a declaration of acceleration of the Notes because an Event of Default described in Section 6.01(a)(4) has occurred and is continuing, the declaration of acceleration of the 

  
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Notes shall be automatically annulled if the event of default or payment default triggering such Event of Default pursuant to Section 6.01(a)(4) shall be remedied or cured by the Issuer or
any of the Restricted Subsidiaries or waived by the holders of the relevant Indebtedness within 20 days after the declaration of acceleration with respect thereto and if (a) the annulment of the acceleration of the Notes would not conflict
with any judgment or decree of a court of competent jurisdiction, (b) all existing Events of Default, except non-payment of principal, premium or interest and Additional Amounts, if any, on the Notes that became due solely because of the
acceleration of the Notes, have been cured or waived. If an Event of Default described in Section 6.01(a)(5) occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest and Additional Amounts, if any, on all the
Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the outstanding Notes may waive all past defaults (except with
respect to non-payment of principal, premium, interest or Additional Amounts) and rescind any such acceleration with respect to the Notes and its consequences if (1) rescission would not conflict with any judgment or decree of a court of
competent jurisdiction; (2) all existing Events of Default, other than the non-payment of the principal of, premium, if any, interest and Additional Amounts, if any, on the Notes that have become due solely by such declaration of acceleration,
have been cured or waived; and (3) the Issuer has paid the Trustee its reasonable compensation and reimbursed the Trustee for its reasonable expenses, disbursements and advances. 

Section 6.03 Other Remedies 
 If an
Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture.

 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to
the extent permitted by law. 
 Section 6.04 Waiver of Past Defaults 

Holders of not less than a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may on behalf of the
Holders of all of the Notes waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium, if any, or interest on, the Notes (including in
connection with an offer to purchase); provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration and its consequences, including any related payment default that
resulted from such acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon. 
 Prior to taking any action hereunder, the Trustee shall be entitled
to indemnification or other security satisfactory to it in its sole discretion against all Losses, liabilities and expenses caused by taking or not taking such action. 

Section 6.05 Control by Majority 

Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any
proceeding for exercising any 

  
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remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law, this Indenture or the
Intercreditor Deed or that the Trustee determines may be unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal liability. 

Section 6.06 Limitation on Suits 
 A
Holder may pursue a remedy with respect to this Indenture or the Notes only if: 
 (1) such Holder has previously given the
Trustee written notice that an Event of Default is continuing; 
 (2) Holders of at least 50% in principal amount of the
outstanding Notes have requested the Trustee to pursue the remedy; 
 (3) such Holders have offered the Trustee security or
indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee has not complied with such
request within 60 days after the receipt of the request and the offer of security or indemnity; and 
 (5) the Holders of a
majority in principal amount of the outstanding Notes have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. 

Section 6.07 Rights of Holders of Notes to Receive Payment 

Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal, premium, if any, and interest
on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or
affected without the consent of the Holders of not less than 90% in aggregate principal amount of the Notes. 
 Section 6.08 Collection Suit by
Trustee 
 If an Event of Default specified in Section 6.01(a)(1) or Section 6.01(a)(2) occurs and is continuing, the Trustee
is authorized to recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount of principal of, premium, if any, and interest remaining unpaid on, the Notes and interest on overdue principal and, to the
extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

Section 6.09 Trustee May File Proofs of Claim 

The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Issuer (or any
other obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such

  
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judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 out of the estate in any such proceeding, shall be denied for any reason,
payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under
any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.10 Priorities 
 Subject to
the terms of the Intercreditor Deed (if applicable), if the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order: 

First: to the Trustee, its agents and attorneys for amounts due to any of them under this Indenture, including payment of all
compensation, expenses, liabilities and indemnities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second: to Holders of Notes for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any and interest, respectively; and 

Third: to the Issuer or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant to this Section 6.10. 

Section 6.11 Undertaking for Costs 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes. 
 ARTICLE 7.

 TRUSTEE 
 Section 7.01
Duties of Trustee 
 (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and
powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

  
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 (b) Except during the continuance of an Event of Default: 

(1) the duties of the Trustee under this Indenture will be determined solely by the express provisions of this Indenture and
the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee will examine the certificates and opinions to determine whether or not
they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy or mathematical calculations or other facts stated therein). 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own wilful
misconduct, except that: 
 (1) this Section 7.01(c) does not limit the effect of Section 7.01(b); 

(2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee will not be liable with respect to
any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.02 or Section 6.05. 

(d) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to
clauses (a), (b), and (c) of this Section 7.01. 
 (e) No provision of this Indenture will require the Trustee to expend or risk
its own funds or incur any liability. The Trustee will be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has offered to the Trustee security and indemnity
satisfactory to it against any loss, liability or expense. 
 (f) The Trustee will not be liable for interest on any money received by it
except as the Trustee may agree in writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) In no event shall the Trustee or any other entity of The Bank of New York Mellon Group be liable for any Losses arising to the Trustee or
any other entity of The Bank of New York Mellon Group receiving or transmitting any data from any Issuer, any Authorized Person or any party to the transaction via any non-secure method of transmission or communication, such as, but without
limitation, by facsimile or e-mail. 
 Section 7.02 Rights of Trustee 

(a) The Trustee and each agent acting on its instructions may conclusively rely upon any document believed by it to be genuine and to have been
signed or presented by 

  
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the proper Person. The Trustee need not investigate any fact or matter stated in the document (regardless of whether any such document is subject to any monetary or other limit). 

(b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The
Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel and the written advice of such counsel or any Opinion of
Counsel will be full and complete protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any agent appointed
with due care. 
 (d) The Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be
authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided in this
Indenture, any demand, request, direction or notice from the Issuer will be sufficient if signed by an Officer of the Issuer. 
 (f) The
Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against the
losses, liabilities and expenses that might be incurred by it in compliance with such request or direction. 
 (g) The Trustee shall have no
duty to inquire as to the performance of the covenants of the Issuer and/or the Restricted Subsidiaries in Article 4. In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of Default except: (1) any Event of
Default occurring pursuant to Section 6.01(a)(1) or Section 6.01(a)(2) (provided it is acting as Paying Agent); and (2) any Default or Event of Default of which a Responsible Officer shall have received written notification. Delivery
of reports, information and documents to the Trustee under Section 4.03 is for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Issuer’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

(h) The Trustee shall not have any obligation or duty to monitor, determine or inquire as to compliance, and shall not be responsible or
liable for compliance with restrictions on transfer, exchange, redemption, purchase or repurchase, as applicable, of minimum denominations imposed under this Indenture or under applicable law or regulation with respect to any transfer, exchange,
redemption, purchase or repurchase, as applicable, of any interest in any Notes. 
 (i) The rights, privileges, protections, immunities and
benefits given to the Trustee, including its right to be indemnified, are extended to, and shall be enforceable by The Bank of New York Mellon, London Branch, in each of its capacities hereunder, The Bank of New York Mellon and The Bank of New York
Mellon (Luxembourg) S.A. and each agent, custodian and other person employed to act hereunder. Absent wilful misconduct or negligence, each Paying Agent and Transfer Agent shall not be liable for acting in good faith on instructions believed by it
to be genuine and from the proper party. 
 (j) The Trustee will not be liable to any person if prevented or delayed in performing any of
its obligations or discretionary functions under this Indenture by reason of any present or future law applicable to it, by any governmental or regulatory authority or by any circumstances beyond its control. 

  
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 (k) The Trustee shall not be liable for any consequential loss (being loss of business, goodwill,
opportunity or profit of any kind) of the Issuer, Successor Company, the Ultimate Parent or any Restricted Subsidiary. 
 (l) The Trustee
shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall
be entitled to examine the books, records and premises of the Issuer personally or by agent or attorney. 
 (m) In the event the Trustee
receives inconsistent or conflicting requests and indemnity from two or more groups of Holders, each representing less than a majority in aggregate principal amount of the Notes then outstanding, pursuant to the provisions of this Indenture, the
Trustee, in its sole discretion, may determine what action, if any, will be taken and shall not incur any liability for its failure to act until such inconsistency or conflict is, in its reasonable opinion, resolved. 

(n) The Trustee may request that the Issuer deliver an Officer’s Certificate setting forth the names of the individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person specified as so authorized in
any such certificate previously delivered and not superseded. 
 (o) In no event shall the Trustee be responsible or liable for any failure
or delay in the performance of its obligations hereunder arising out of or caused by acts of war or terrorism involving the United States, the United Kingdom or any member state of the European Monetary Union or any other national or international
calamity or emergency (including natural disasters or acts of God), it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable
under the circumstances. 
 (p) The Trustee is not required to give any bond or surety with respect to the performance or its duties or the
exercise of its powers under this Indenture or the Notes. 
 (q) The permissive right of the Trustee to take the actions permitted by this
Indenture shall not be construed as an obligation or duty to do so. 
 (r) The Trustee shall have the right to accept and act upon
Instructions, including with respect to fund transfers given pursuant to this Indenture and delivered using Electronic Means. If the Issuer elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to
act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Issuer understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the
Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Person have been sent by such Authorized Person. The Issuer shall be responsible for ensuring that only Authorized Persons transmit such Instructions
to the Trustee and that the Issuer and all Authorized Persons are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Issuer. The Trustee
shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions 

  
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notwithstanding such directions conflict or are inconsistent with a subsequent Written Instruction not delivered by Electronic Means. The Issuer agrees: (1) to assume all risks arising out
of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (2) that it is fully
informed of the protections and risks associated with the various methods of transmitting Instructions by Electronic Means to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s) selected by the
Issuer; (3) that the security procedures (if any) to be followed in connection with its transmission of Instructions by Electronic Means provide to it a commercially reasonable degree of protection in light of its particular needs and
circumstances; and (4) use its reasonable commercial efforts to notify the Trustee upon learning of any compromise or unauthorized use of the security procedures. 

Section 7.03 Individual Rights of Trustee 

The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or any
Affiliate of the Issuer with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days or resign as Trustee hereunder. Any Agent may
do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11. 
 Section 7.04 Trustee’s Disclaimer 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not
be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any provision of this Indenture, it will not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other
than its certificate of authentication. 
 Section 7.05 Notice of Defaults 

If a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee will deliver to Holders of Notes a
notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest on, any Note, the Trustee may withhold the notice if and so long
as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Notes. 

Section 7.06 Reports by Trustee to Holders of the Notes 

Within 60 days after it becomes aware of the occurrence of an event described in TIA § 313(a), and for so long as Notes remain
outstanding, the Trustee shall mail to the Holders of the Notes a brief report dated as of such reporting date that would comply with TIA § 313(a) as if this Indenture were required to be qualified under the TIA (but if no event described in
TIA § 313(a) has occurred, no report need be transmitted). The Trustee also shall comply with TIA § 313(b)(2) as if this Indenture were required to be qualified under the TIA. 

Section 7.07 Compensation and Indemnity 

(a) The Issuer will pay to the Trustee from time to time reasonable compensation for its acceptance of this Indenture and services hereunder.
The Trustee’s compensation 

  
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will not be limited by any law on compensation of a trustee of an express trust. The Issuer will reimburse the Trustee promptly upon request for all reasonable disbursements, advances and
expenses incurred or made by it in addition to the compensation for its services. Such expenses will include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

(b) The Issuer will indemnify the Trustee, including its directors, officers, employees and agents, against any and all losses, liabilities or
expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, any Supplemental Indenture, the Notes, the Intercreditor Deed or in any other role performed by The Bank of New York
Mellon Group under said documents, including the costs and expenses of enforcing this Indenture against the Issuer (including this Section 7.07) and defending itself against any claim (whether asserted by the Issuer, any Holder or any other
Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or bad faith. The Trustee will notify the
Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer will not relieve the Issuer of its obligations hereunder. The Issuer will defend the claim and the Trustee will cooperate in the defense.
The Trustee may have separate counsel and the Issuer will pay the reasonable fees and expenses of such counsel. The Issuer need not pay for any settlement made without its consent, which consent will not be unreasonably withheld. 

(c) The obligations of the Issuer under this Section 7.07 and any claim arising hereunder shall survive the resignation or removal of any
Trustee, the satisfaction and discharge of the Issuer’s obligations pursuant to Article 8 and any rejection or termination under any Bankruptcy Law, and the satisfaction and discharge of this Indenture 

(d) To secure the Issuer’s payment obligations in this Section 7.07, the Trustee will have a Lien prior to the Notes on all money or
property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien will survive the satisfaction and discharge of this Indenture. 

(e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(a)(7) occurs, the expenses
and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any applicable Bankruptcy Law. 

For the avoidance of doubt, the rights, privileges, protections, immunities and benefits given, to the Trustee in Section 7.07, including
its right to be indemnified, are extended to, and shall be enforceable by The Bank of New York Mellon, London Branch, in each of its capacities hereunder and by each agent (including The Bank of New York Mellon and The Bank of New York Mellon
(Luxembourg) S.A.), custodian and other Person employed by the Trustee to act hereunder. 
 Section 7.08 Replacement of Trustee 

(a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in writing at any time and be discharged from
the trust hereby created by so notifying the Issuer. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. The Issuer may remove the
Trustee if: 
 (1) the Trustee fails to comply with Section 7.10; 

  
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 (2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the
Trustee or its property; or 
 (4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer will promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Issuer. 
 (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, (1) the
retiring Trustee, the Issuer, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee; or (2) the retiring Trustee
may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office; provided that such appointment shall be reasonably satisfactory to the Issuer. 

(e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10,
such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders.
The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07.
Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 will continue for the benefit of the retiring Trustee. 

Section 7.09 Successor Trustee by Merger, etc. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act will be the successor Trustee. 
 Section 7.10 Eligibility; Disqualification 

There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of
America or of any state thereof or a jurisdiction in the European Union that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined
capital and surplus of at least $50.0 million equivalent as set forth in its most recent published annual report of condition. 
 This
Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5) as if this Indenture were required to be qualified under the TIA. For 

  
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purposes of this Indenture, the Trustee will be deemed to be subject to TIA § 310(b); provided, however that there shall be excluded from the operation of TIA § 310(b)(1) any
indenture or indentures under which other securities of, or certificates of interest or participation in other securities of, the Issuer are outstanding if the requirements for such exclusion as set forth in TIA § 310(b)(1) are met. 

Section 7.11 Preferential Collection of Claims Against Issuer 

The Trustee will be deemed to be subject to TIA § 311(a) on the same basis as if this Indenture were required to be qualified under the
TIA, excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be deemed to be subject to TIA § 311(a) to the extent indicated therein. 

ARTICLE 8. 
 LEGAL
DEFEASANCE AND COVENANT DEFEASANCE SECTION 
 Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance 

The Issuer may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate, elect
to have either Section 8.02 or 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge 

(a) Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.02, the Issuer will, subject
to the satisfaction of the conditions set forth in Section 8.04, be deemed to have been discharged from its obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal
Defeasance”). For this purpose, Legal Defeasance means that the Issuer will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes, which will thereafter be deemed to be “outstanding”
only for the purposes of Section 8.05 and the other Sections of this Indenture referred to in clauses (1) and (2) of this Section 8.02(a), and to have satisfied all its other obligations under such Notes and this Indenture (and
the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder: 

(1) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if
any, on, such Notes when such payments are due from the trust referred to in Section 8.04; 
 (2) the Issuer’s
obligations with respect to such Notes under Article 2 and Section 4.02; 
 (3) the rights, powers, trusts, duties and
immunities of the Trustee hereunder and the Issuer’s obligations in connection therewith; and 
 (4) this Article 8.

 (b) Subject to compliance with this Article 8, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior
exercise of its option under Section 8.03. 

  
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 Section 8.03 Covenant Defeasance 

Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03, the Issuer will, subject to the
satisfaction of the conditions set forth in Section 8.04, be released from its, and each Guarantor will be released from its obligations under Sections 3.12, 4.03, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.14, 4.15, 4.16, 4.17, 4.19, 4.21 and 4.24
and clauses (3) and (4) of Sections 5.01(a) and (b) with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.04 are satisfied (hereinafter, “Covenant Defeasance”), and the
Notes will thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed
“outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the
Issuer may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason
of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01(a), but, except as specified above, the remainder
of this Indenture and such Notes will be unaffected thereby. In addition, upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in
Section 8.04, Section 6.01(a)(4), Section 6.01(a)(5) (with respect only to Significant Subsidiaries) and Sections 6.01(a)(6) and 6.01(a)(7) will not constitute Events of Default. 

Section 8.04 Conditions to Legal or Covenant Defeasance 

(a) In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03: 

(1) the Issuer must irrevocably deposit with the Trustee (or an agent nominated by the Trustee for such purpose), in trust, for
the benefit of the Holders, cash in dollars, U.S. Government Obligations or a combination thereof (in the case of the Dollar Notes) and euros, European Government Obligations or a combination thereof (in the case of the Euro Notes), in such amounts
as will be sufficient, in the opinion of an Independent Financial Advisor, to pay the principal of, premium, if any, and interest and any Additional Amounts on, the outstanding Notes on the stated date for payment thereof or on the applicable
Redemption Date, as the case may be, and the Issuer must specify whether the Notes are being defeased to such stated date for payment or to a particular Redemption Date; 

(2) in the case of an election under Section 8.02, the Issuer must deliver to the Trustee an Opinion of Counsel (subject
to customary exceptions and exclusions) confirming that: 
 (A) the Issuer has received from, or there has been published by,
the Internal Revenue Service a ruling; or 
 (B) since the Issue Date, there has been a change in the applicable federal
income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel (subject to customary exceptions and
exclusions) shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for United States Federal income tax purposes as a result of such Legal Defeasance and will be subject to United States Federal income tax
on the 

  
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same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred. In the case of legal defeasance only, such Opinion of Counsel must be
based on a ruling of the Internal Revenue Service or other change in applicable United States Federal income tax law; 
 (3)
in the case of an election under Section 8.03, the Issuer must deliver to the Trustee an Opinion of Counsel (subject to customary exceptions and exclusions) confirming that the Holders of the outstanding Notes will not recognize income, gain or
loss for United States Federal income tax purposes as a result of such Covenant Defeasance and will be subject to United States Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
Covenant Defeasance had not occurred; 
 (4) no Default or Event of Default shall have occurred and be continuing on the date
of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which
the Issuer is a party or by which the Issuer is bound; 
 (5) such Legal Defeasance or Covenant Defeasance will not result in
a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Issuer or any of its Subsidiaries is a party or by which the Issuer or any of its Subsidiaries is bound; 

(6) the Issuer must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Issuer
with the intent of preferring the Holders of Notes over the other creditors of the Issuer with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or others; and 

(7) the Issuer must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
 Section 8.05 Deposited Money and
Government Obligations to be Held in Trust; Other Miscellaneous Provisions 
 (a) Subject to Section 8.06, all money, all U.S.
Government Obligations and all European Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to
Section 8.04 in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the
Issuer acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except
to the extent required by law. 
 (b) The Issuer will pay and indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against the cash in dollars or against U.S. Government Obligations (in the case of the Dollar Notes) and euros or against European Government Obligations (in the case of the Euro Notes) deposited pursuant to Section 8.04 or the
principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 

  
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 (c) Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay
to the Issuer from time to time upon the request of the Issuer any money, non-callable U.S. Government Obligations (in the case of the Dollar Notes) and non-callable European Government Obligations (in the case of the Euro Notes) held by it as
provided in Section 8.04 which, in the opinion of an Independent Financial Advisor expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a)(1)), are in excess of the
amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
 Section 8.06
Repayment to Issuer 
 Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment
of the principal of, premium, if any, or interest on, any Note and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Issuer on its request or (if then held by the
Issuer) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Issuer as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may (without an obligation to do so) at the expense of the Issuer
causes to be published once, in a leading newspaper having general circulation in London, notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or
publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. 
 Section 8.07 Reinstatement 

If the Trustee or Paying Agent is unable to apply any dollars or non-callable U.S. Government Obligations (in the case of the Dollar Notes) and
euros or non-callable European Government Obligations (in the case of the Euro Notes) in accordance with Section 8.02 or 8.03, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, then the Issuer’s obligations under this Indenture and the Notes will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03, as the case may be; provided, however, that, if the Issuer makes any payment of principal of, premium, if any, or interest on, any Note following
the reinstatement of its obligations, the Issuer will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE 9. 
 AMENDMENT,
SUPPLEMENT AND WAIVER 
 Section 9.01 Without Consent of Holders of Notes 

(a) Notwithstanding Section 9.02 of this Indenture, the Issuer and the Trustee (to the extent party thereto) may amend or supplement this
Indenture, the Notes or the Intercreditor Deed without the consent of any Holder to: 
 (1) cure any ambiguity, omission,
defect or inconsistency; 
 (2) provide for the assumption by a Successor Company of the obligations of the Issuer under this
Indenture, the Notes and the Intercreditor Deed; 

  
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 (3) provide for uncertificated Notes in addition to or in place of certificated
Notes (provided that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code); 

(4) add guarantees with respect to the Notes; 

(5) secure the Notes; 

(6) add to the covenants of the Issuer for the benefit of the Holders or surrender any right or power conferred upon the
Issuer; 
 (7) make any change that does not adversely affect the rights of any Holder in any material respect; 

(8) release the Note Guarantees as provided by the terms of this Indenture; 

(9) issue Additional Notes in accordance with the terms of this Indenture; 

(10) give effect to Permitted Liens; 

(11) evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee pursuant to the
requirements thereof; 
 (12) to the extent necessary to grant a security interest for the benefit of any Person;
provided that the granting of such security interest is permitted by this Indenture and the Intercreditor Deed; 

(13) make any amendment to the provisions of this Indenture relating to the transfer and legending of Notes as permitted by
this Indenture, including, without limitation to facilitate the issuance and administration of the Notes; provided, however, that (A) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the
Securities Act or any applicable securities law and (B) such amendment does not materially and adversely affect the rights of Holders to transfer Notes; or 

(14) to conform the text of this Indenture, the Notes and the Intercreditor Deed to any provision of the “Description of
the Senior Notes” section of the Offering Memorandum to the extent that such provision in the “Description of the Senior Notes” section of the Offering Memorandum was intended to be a verbatim recitation of this Indenture, the Notes
and the Intercreditor Deed. 
 (b) In formulating its opinion on such matters, the Trustee shall be entitled to require and rely on such
evidence as it deems appropriate, including an Opinion of Counsel and an Officer’s Certificate. 
 (c) The consent of the Holders is
not necessary under this Indenture to approve the particular form of any proposed amendment. It is sufficient if such consent approves the substance of the proposed amendment. A consent to any amendment or waiver under this Indenture by any Holder
given in connection with a tender of such Holder’s Notes will not be rendered invalid by such tender. For so long as the Notes are listed on the Luxembourg Stock Exchange and the guidelines of such stock exchange so require, the Issuer will
notify the Luxembourg Stock Exchange of any such amendment, supplement and waiver. 
 (d) Upon the request of the Issuer accompanied by a
resolution of its Board of Directors authorizing the execution of any such amended or supplemental Indenture, and 

  
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upon receipt by the Trustee of the documents described in Section 7.02, the Trustee will join with the Issuer in the execution of any amended or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that adversely affects
its own rights, duties or immunities under this Indenture or otherwise. 
 Section 9.02 With Consent of Holders of Notes 

Except as provided below in this Section 9.02, the Issuer and the Trustee may amend or supplement this Indenture, the Notes and the
Intercreditor Deed with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding including without limitation, Additional Notes, if any, voting as a single class (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), and, subject to Sections 6.04 and 6.07, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the
principal of, premium, if any, or interest on, the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or the Notes may be waived with the consent of the Holders
of a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, the Notes); provided, however that if any amendment, waiver or other modification will only affect the Dollar Notes or the Euro Notes, only the consent of the Holders of at least a majority in principal
amount of the then outstanding Dollar Notes or Euro Notes (and not the consent of at least a majority of all Notes then outstanding), as the case may be, shall be required. 

Upon the request of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental Indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02, the Trustee
will join with the Issuer in the execution of such amended or supplemental Indenture unless such amended or supplemental indenture directly adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in
which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 
 It is not
be necessary for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof. 

The Holders of a majority in aggregate principal amount of the Notes then outstanding voting as a single class may waive compliance in a
particular instance by the Issuer with any provision of this Indenture or the Notes. 
 However, unless consented to by the Holders of at
least 90% of the aggregate principal amount of then outstanding Notes (provided, however that if any amendment, waiver or other modification will only affect the Dollar Notes or the Euro Notes only the consent of the Holders of at least 90% of the
aggregate principal amount of the then outstanding Dollar Notes or Euro Notes (and not the consent of at least 90% of the aggregate principal amount of all Notes then outstanding), as the case may be, will be required), an amendment may not: 

(1) reduce the principal amount of Notes whose Holders must consent to an amendment or waiver; 

  
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 (2) reduce the stated rate of or extend the stated time for payment of interest
or Additional Amounts on any Note; 
 (3) reduce the principal of or extend the Stated Maturity of any Note; 

(4) whether through an amendment or waiver of provisions in the covenants, definitions or otherwise (A) reduce the premium
payable upon the redemption of any Note or change the time at which any Note may be redeemed under Section 3.07 (other than the notice provisions) or (B) reduce the premium payable upon repurchase of any Note or change the time at which
any Note is to be repurchased pursuant to Section 3.12, Section 4.10 or Section 4.14 at any time after the obligation to repurchase has arisen; 

(5) make any Note payable in money other than that stated in the Note (except to the extent the currency stated in the Notes
has been succeeded or replaced pursuant to applicable law); 
 (6) impair the right of any Holder to receive payment of,
premium, if any, principal of or interest or Additional Amounts, if any, on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; 

(7) modify the Note Guarantees in any manner materially adverse to the Holders of the Notes, except in accordance with the
terms of this Indenture and the Intercreditor Deed; or 
 (8) make any change in the amendment or waiver provisions described
in this Section 9.02(b). 
 In addition, without the consent of at least seventy-five per cent (75%) in aggregate principal amount
of Notes then outstanding (provided, however that if any amendment, waiver or other modification will only affect the Dollar Notes or the Euro Notes only the consent of the Holders of at least 75% of the aggregate principal amount of the then
outstanding Dollar Notes or Euro Notes (and not the consent of at least 75% of the aggregate principal amount of all Notes then outstanding), as the case may be, shall be required), no amendment or supplement may release or modify any Guarantor from
any of its obligations under its Note Guarantee, except in accordance with the terms of this Indenture. 
 For purposes of determining
whether the Holders of the requisite principal amount of Notes have taken any action under this Section 9.02 (other than with respect to a determination that only affects the Dollar Notes), the principal amount of Dollar Notes shall be deemed
to be the Euro Equivalent of such principal amount of Dollar Notes as of (1) if a record date has been set with respect to the taking of such action, such date or (2) if no such record date has been set, the date the taking of such action
by the Holders of such requisite principal amount is certified to the Trustee by the Issuer. 
 Section 9.03 Revocation and Effect of Consents

 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every
subsequent Holder or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to its Note if
the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 

  
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 Section 9.04 Notation on or Exchange of Notes 

The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in
exchange for all Notes may issue and the Authenticating Agent shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 

Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.

 Section 9.05 Trustee to Sign Amendments, etc. 

The Trustee will sign any amended or supplemental Indenture authorized pursuant to this Article 9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuer may not sign an amended or supplemental Indenture until the Board of Directors of the Issuer approves it. In executing any amended or supplemental Indenture,
the Trustee will be entitled to receive and (subject to Section 7.01) will be fully protected in relying upon, in addition to the documents required by Section 14.03, an Officer’s Certificate and an Opinion of Counsel stating that the
execution of such amended or supplemental Indenture is authorized or permitted by or not in breach of this Indenture and that such amendment is the legal, valid and binding obligation of the Issuer (and any Guarantor) enforceable against it in
accordance with its terms, subject to customary exceptions, and complies with the provisions of this Indenture. 
 ARTICLE 10. 

NOTE GUARANTEES 
 Section 10.01
Guarantee 
 (a) Subject to this Article 10, each of the Guarantors hereby, jointly and severally, irrevocably and unconditionally
guarantees to each Holder authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the obligations of the Issuer hereunder or
thereunder, that: 
 (1) the principal of, premium, if any, and interest on, or Additional Amounts, if any, in respect to the
Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest and Additional Amounts on the Notes, if any, if lawful, and all other obligations of
the Issuer to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 

(2) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be
promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 

Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors will be jointly and
severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

  
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 (b) Each Guarantor hereby agrees that its obligations hereunder are unconditional, irrespective
of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any judgment against
the Issuer, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims
with a court in the event of insolvency or bankruptcy of the Issuer, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), any right to require a proceeding first against the Issuer, protest,
notice and all demands whatsoever and covenant that this Note Guarantee will not be discharged except by complete performance of the obligations contained in the Notes and this Indenture. 

(c) If any Holder or the Trustee is required by any court or otherwise to return to the Issuer, any Guarantor or any custodian, trustee,
liquidator or other similar official acting in relation to either the Issuer or any Guarantor, any amount paid by either to the Trustee or such Holder, this Note Guarantee, to the extent theretofore discharged, will be reinstated in full force and
effect. 
 (d) Each Guarantor agrees that it will not be entitled to any right of subrogation in relation to the Holders in respect of any
obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, 

(1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of this Note
Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and 

(2) in the event of any declaration of acceleration of such obligations as provided in Article 6, such obligations (whether or
not due and payable) will forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors will have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not
impair the rights of the Holders under the Note Guarantee. 
 Section 10.02 Limitation on Guarantor Liability. 

Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note
Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar national, federal, local or state law to the
extent applicable to any Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor will be limited to the maximum amount that will, after giving
effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf
of any other Guarantor in respect of the obligations of such other Guarantor under this Article 10, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent transfer or conveyance. 

  
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 Section 10.03 [Reserved] 

Section 10.04 Execution and Delivery of Note Guarantee. 

To evidence its Note Guarantee set forth in Section 10.01, each Guarantor hereby agrees that a notation of such Note Guarantee
substantially in the form attached as Exhibit F hereto will be endorsed by an Officer or a director of such Guarantor on each Note authenticated and delivered by the Trustee and that this Indenture will be executed on behalf of such Guarantor
by one of its Officers or directors. 
 Each Guarantor hereby agrees that its Note Guarantee set forth in Section 10.01 will remain in
full force and effect notwithstanding any failure to endorse on each Note a notation of such Note Guarantee. 
 If an Officer or director
whose signature is on this Indenture or on the Note Guarantee no longer holds that office at the time the Trustee authenticates the Note on which a Note Guarantee is endorsed, the Note Guarantee will be valid nevertheless. 

The delivery of any Note by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the Note Guarantee set
forth in this Indenture on behalf of the Guarantors. 
 The Issuer shall cause any Restricted Subsidiary so required by Section 4.15,
to execute a Supplemental Indenture in the form of Exhibit E to this Indenture and a notation of Note Guarantees in the form of Exhibit F to this Indenture in accordance with Section 4.15 and this Article 10. 

Section 10.05 Releases. 
 (a) The
Note Guarantee of a Parent Guarantor will automatically and unconditionally be released and discharged with no further force or effect: 

(1) in the case of any Note Guarantee of a Released Entity, pursuant to the Post-Closing Reorganization; provided that
(A) such Released Entity is also released or discharged from such Released Entity’s guarantee of Indebtedness of the Issuer and the Subsidiary Guarantors under the Existing Senior Notes or any Pari Passu Indebtedness and
(B) the New Immediate Holdco provides a guarantee of the Notes on substantially the same terms as the Note Guarantee provided by Virgin Media prior to the Post-Closing Reorganization; and 

(2) in the case of a Parent Guarantor that is prohibited or restricted by applicable Law from guaranteeing the Notes. 

(b) The Note Guarantee of a Subsidiary Guarantor will automatically and unconditionally be released and discharged with no further force or
effect: 
 (1) concurrently with any sale by way of enforcement by the relevant Security Trustee (as defined in the
Intercreditor Deed) of a security interest therein of (a) all of the Capital Stock of such Subsidiary Guarantor or any parent company of such Subsidiary Guarantor or (b) all or substantially all of the assets of such Subsidiary Guarantor,
in each case so long as: 
  

	 	(A)	the proceeds of such sale are in cash (or substantially in all cash) and are applied in the manner described under Section 3.12; 

  
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	 	(B)	such Subsidiary Guarantor is released from its obligations in respect of any other Indebtedness of Virgin Media Group LLC and any Restricted Subsidiary; provided, however, that nothing in the Intercreditor Deed
shall require the release by such Subsidiary Guarantor or any of its Subsidiaries of any of their obligations in respect of the Senior Liabilities or the High Yield Trustee Direct Claims; and 

 

	 	(C)	the sale is made pursuant to either a public auction or a competitive bid process to obtain the best price reasonably obtainable given the then-current condition (financial or otherwise), earnings, business, assets and
prospects of such Subsidiary Guarantor and its Subsidiaries, the Security Trustee having consulted with an internationally recognized investment bank (including without limitation and to the extent appropriate a Senior Lender or a relationship bank
of the Issuer or its Subsidiaries) or an internationally recognized accounting firm regarding the appropriate procedures for obtaining the best price for the shares or assets, considered the recommendations of that investment bank or accounting firm
and used its reasonable efforts to cause the procedures recommended by that investment bank or accounting firm to be implemented in all material respects in relation to the sale and to permit holders to participate in the sale process as bidders;
provided, however, that the Security Trustee shall not be under any further obligation to cause such recommendations to be implemented to the extent not implemented in connection with such sale by the relevant court, authority or other third
party required to act in connection with such sale; provided further, that such reasonable efforts will, to the extent permitted by applicable law, include attempting to conduct such sale process other than through a court or legal proceeding;

 (2) concurrently with any sale by an administrator under the U.K. Insolvency Act 1986 of (a) all of the
Capital Stock of such Subsidiary Guarantor or any parent company of such Subsidiary Guarantor or (b) all or substantially all of the assets of such Subsidiary Guarantor, in each case so long as: 

 

	 	(A)	the administrator is an insolvency practitioner whose appointment the Trustee has not objected to (acting reasonably) under the provisions of the U.K. Insolvency Act 1986 relating to the selection of a person or persons
to be an/the administrator; 

  

	 	(B)	the proceeds of such sale are in cash (or substantially in all cash) and are applied in the manner described under Section 3.12; 

 

	 	(C)	such Subsidiary Guarantor is released from its obligations in respect of any other Indebtedness of Virgin Media Group LLC, the Issuer or any Restricted Subsidiary; provided, however, that nothing in the
Intercreditor Deed shall require the release by such Subsidiary Guarantor or any of its Subsidiaries of any of their obligations in respect of the Senior Liabilities or the High Yield Trustee Direct Claims; and 

 

	 	(D)	 the sale is made pursuant to a public auction or a competitive bid process to obtain the best price reasonably obtainable given the then-current
condition (financial or otherwise), earnings, business, assets 

  
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and prospects of such Subsidiary Guarantor and its Subsidiaries, the administrator having consulted with an internationally recognized investment bank (including without limitation and to the
extent appropriate a Senior Lender or a relationship bank of the Issuer or its Subsidiaries) or an internationally recognized accounting firm regarding the appropriate procedures for obtaining the best price for the shares or assets, considered the
recommendations of that investment bank or accounting firm and used its reasonable efforts to cause the procedures recommended by that investment bank or accounting firm to be implemented in all material respects in relation to the sale and to
permit holders to participate in the sale process as bidders; 

 (3) with respect to an Additional Subsidiary
Guarantee given under Section 4.15, upon release of the guarantee that gave rise to the requirement to issue such Additional Subsidiary Guarantee so long as no Event of Default would arise as a result and no other Indebtedness that would give
rise to an obligation to give an Additional Subsidiary Guarantee is at that time guaranteed by the relevant Subsidiary Guarantor; 

(4) in the case of a Guarantor that is prohibited or restricted by applicable Law from guaranteeing the Notes; 

(5) as a result of a transaction permitted by, and in compliance with, Section 5.01; 

(6) as described under Article 9; 

(7) upon the legal defeasance, covenant defeasance or satisfaction and discharge of the Notes and this Indenture as provided in
Article 8 and Article 12, in each case in accordance with the terms and conditions of this Indenture; 
 (8) upon the full
and final payment and performance of all obligations of the Issuer and the Guarantors under this Indenture and the Notes; or 

(9) upon designation of such Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with the terms of this Indenture.

 Notwithstanding any of the foregoing, in all circumstances a Note Guarantee shall only be released if (1) the relevant Guarantor has
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for in this Indenture relating to such transaction have been complied with and (2) such Guarantor is released
from its guarantees of the Senior Credit Facility, the Existing Senior Secured Notes and the Existing Senior Notes, as applicable. The Trustee shall take all necessary actions, including the granting of releases or waivers under the Intercreditor
Deed, to effectuate any release in accordance with these provisions, subject to customary protections and indemnifications. 

  
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 ARTICLE 11. 

[RESERVED] 
 ARTICLE 12.

 SATISFACTION AND DISCHARGE 

Section 12.01 Satisfaction and Discharge 

(a) This Indenture and, subject to Section 7.07, the rights, duties and obligations of the Trustee and the Holders under the Intercreditor
Deed will be discharged and will cease to be of further effect as to all Notes issued thereunder, or as to the Dollar Notes or Euro Notes, as applicable, when: 

(1) either: 

(A) all Notes (or all Dollar Notes or Euro Notes, as applicable) that have been authenticated, except lost, stolen or destroyed
Notes that have been replaced or paid and Notes for whose payment money has been deposited in trust and thereafter repaid to the Issuer, have been delivered to a Paying Agent or Registrar for cancellation; or 

(B) (i) all Notes (or all Dollar Notes or Euro Notes, as applicable) that have not been delivered to a Paying Agent or
Registrar for cancellation (a) have become due and payable by reason of the mailing or delivery of a notice of redemption or otherwise or (b) will become due and payable within one year and (ii) the Issuer or a Guarantor has
irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, with respect to the Dollar Notes, cash, Cash Equivalents, U.S. Government Obligations or a combination thereof, in each
case, denominated in dollars and, with respect to the Euro Notes, cash, Cash Equivalents, European Government Obligations or a combination thereof, in each case, denominated in euros, in amounts as will be sufficient, without consideration of any
reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to a Paying Agent or Registrar for cancellation for principal, premium and Additional Amounts (if any) and accrued interest to the date of maturity or
redemption; 
 (2) the Issuer or the Guarantors have paid or caused to be paid all other amounts (other than those paid or
deposited or caused to be paid or deposited in accordance with Section 12.01(a)(1)) payable by it under this Indenture; and 

(3) the Issuer has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward
the payment of the Notes (or the Dollar Notes or Euro Notes, as applicable) at maturity or on the Redemption Date, as the case may be. 

(b) In addition, the Issuer must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions
precedent to satisfaction and discharge have been satisfied. 
 (c) Notwithstanding the satisfaction and discharge of this Indenture, if
money has been deposited with the Trustee pursuant to Section 12.01(a)(1)(B), the provisions of Sections 12.02 and 8.06 will survive. In addition, nothing in this Section 12.01 will be deemed to discharge those provisions of
Section 7.07, that, by their terms, survive the satisfaction and discharge of this Indenture. 

  
 132 

 Section 12.02 Application of Trust Money 

Subject to the provisions of Section 8.06, all money deposited with the Trustee pursuant to Section 12.01 shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law. 

If the Trustee or Paying Agent is unable to apply dollars or non-callable U.S. Government Obligations in the case of the Dollar Notes, and
euro or non-callable European Government Obligations in the case of the Euro Notes, in accordance with Section 12.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.01; provided that if the
Issuer has made any payment of principal of, premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from dollars
or non-callable U.S. Government Obligations in the case of the Dollar Notes, and euros or non-callable European Government Obligations in the case of the Euro Notes, held by the Trustee or Paying Agent. 

ARTICLE 13. 
 SUBORDINATION
OF SUBSIDIARY GUARANTEES 
 Each of the Subsidiary Guarantors agrees, and each Holder by accepting a Note and related Subsidiary Guarantees
agrees, that the obligations of such Guarantor hereunder are subordinated in right of payment, to the extent and in the manner provided in the Intercreditor Deed to the prior payment in full of all Senior Indebtedness of such Subsidiary Guarantor
and that the subordination is for the benefit of and enforceable by the holders of such Senior Indebtedness against such Subsidiary Guarantor. Each Holder, by accepting a Note, shall be deemed to have agreed to and accepted the terms and conditions
of the Intercreditor Deed (including the limitations on enforcement and the obligations to turnover contained therein). A copy of the Intercreditor Deed shall be available on any Business Day upon prior written request at the offices of the Trustee.
The obligations hereunder with respect to a Subsidiary Guarantor shall in all respects rank pari passu with all other Senior Subordinated Indebtedness of such Subsidiary Guarantor and shall rank senior to all existing and future Subordinated
Obligations of such Subsidiary Guarantor. 
 ARTICLE 14. 

MISCELLANEOUS 
 Section 14.01 Notices

 (a) Any notice or communication by the Issuer or the Trustee to the others is duly given if in writing and delivered in Person or by first
class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’ address: 

If to the Issuer: 
 Virgin Media
Finance PLC 
 Media House 

Bartley Wood Business Park 
 Hook,
Hampshire RG27 9UP 

  
 133 

 United Kingdom 

Telephone: +44 1256 752000 

Facsimile: +44 1256 752170 

Attention: Chief Financial Officer 

If to the Trustee: 
 The Bank of
New York Mellon, London Branch 
 Merck House 

Seldown 
 Poole 

Dorset BH15 1PX United Kingdom 

Email: corpsov4@bnymellon.com 

Facsimile +44 (0)20 7964 2536 

Attention: Corporate Trust Administration 

(b) The Issuer or the Trustee, by notice to the others, may designate additional or different addresses for subsequent notices or
communications. 
 (c) All notices and communications addressed to the Issuer or the Trustee at the addresses set forth in this
Section 14.01 (or such other address as may be designated hereunder) (other than those sent to Holders) will 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 acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 

(d) All notices to the Holders (while any Notes are represented by one or more Global Notes) shall be delivered to DTC, Euroclear and
Clearstream, as applicable for communication to entitled account holders. In the case of Definitive Registered Notes, notices will be mailed to Holders by first-class mail at their respective addresses as they appear on the records of the Registrar,
unless stated otherwise in the register kept by, and at the registered office of the Issuer. 
 (e) So long as the Notes are listed on the
Official List of the Luxembourg Stock Exchange and admitted for trading on the Euro MTF and the rules and regulations of the Luxembourg Stock Exchange so require, all notices to Holders will also be published in a newspaper having general
circulation in Luxembourg approved by the Trustee or posted on the official website of the Luxembourg Stock Exchange (www.bourse.lu). If publication as provided above is not practicable, notice will be given in such other manner, and shall be deemed
to have been given on such date, as the Trustee may approve. So long as the Notes are listed on any other securities exchange, notices will also be given in accordance with any applicable requirements of such securities exchange. 

(f) Failure to deliver a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other
Holders. 
 (g) If a notice or communication is mailed or otherwise delivered in the manner provided above within the time prescribed, it is
duly given, whether or not the addressee receives it. 
 (h) If the Issuer mails or otherwise delivers a notice or communication to Holders,
it will mail or otherwise deliver a copy to the Trustee and each Agent at the same time. 
 (i) Notices given by publication will be deemed
given on the first date on which publication is made and notices given by first class mail, postage prepaid to Holders, will be deemed given five calendar days after mailing. 

  
 134 

 Section 14.02 Communication by Holders of Notes with Other Holders of Notes 

Holders may communicate pursuant to TIA § 312(b) as if this Indenture were required to be qualified under the TIA with other Holders with
respect to their rights under this Indenture or the Notes. The Issuer, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c) as if this Indenture were required to be qualified under the TIA. 

Section 14.03 Certificate and Opinion as to Conditions Precedent 

Upon any request or application by the Issuer to the Trustee to take any action under this Indenture, the Issuer shall furnish to the Trustee:

 (1) an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which must include the
statements set forth in Section 14.04) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

(2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which must include the statements set
forth in Section 14.04) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 

Section 14.04 Statements Required in Certificate or Opinion 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture must include: 

(1) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied. 

Section 14.05 Rules by Trustee and Agents 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set
reasonable requirements for its functions. 
 Section 14.06 No Personal Liability of Directors, Officers, Employees and Stockholders 

No director, officer, employee, incorporator, member or stockholder of the Issuer any of its parent companies or any of its Subsidiaries or
Affiliates, as such, shall have any liability 

  
 135 

 
for any obligations of the Issuer under the Notes or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note
waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver and release may not be effective to waive liabilities under the United States federal securities laws and it is the
view of the SEC that such a waiver is against public policy. 
 Section 14.07 Currency Indemnity 

The sole currency of account and payment for all sums payable by the Issuer under this Indenture or the Notes with respect to the Dollar Notes
is dollars and with respect to the Euro Notes is euros. Any amount received or recovered in a currency other than dollars or euros, as the case may be, under this Indenture or the Notes (whether as a result of, or the enforcement of, a judgment or
order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer, any Subsidiary or otherwise) by the Holder, the Trustee or any other person in respect of any sum expressed to be due to it from the Issuer will constitute a
discharge of the Issuer only to the extent of the dollar or euro amount, as the case may be, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that receipt or recovery (or, if it
is not possible to make that purchase on that date, on the first date on which it is possible to do so). If that dollar amount or euro amount, as the case may be, is less than the dollar amount or euro amount, as the case may be, expressed to be due
to the recipient under this Indenture or any Note, the Issuer will indemnify the recipient against any loss sustained by it as a result. In any event the Issuer will indemnify the recipient against the cost of making any such purchase. 

For the purposes of this indemnity, it will be sufficient for the Holder, the Trustee or such other person to certify that it would have
suffered a loss had an actual purchase of dollars or euros, as the case may be, been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of dollars or euros, as the case may be, on such date
had not been practicable, on the first date on which it would have been practicable). These indemnities constitute a separate and independent obligation from the other obligations of the Issuer, will give rise to a separate and independent cause of
action, will apply irrespective of any waiver granted by any Holder or the Trustee and will continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under this Indenture or
any Note or any other judgment or order. 
 Section 14.08 Governing Law 

THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE AND THE NOTES. 

Section 14.09 Submission to Jurisdiction; Appointment of Agent for Service 

To the fullest extent permitted by applicable law, each of the parties hereto irrevocably submits to the non-exclusive jurisdiction of and
venue in any federal or state court in the Borough of Manhattan in the City of New York, County and State of New York, United States of America, in any suit or proceeding based on or arising out of or under or in connection with this Indenture and
the Notes and irrevocably agrees that all claims in respect of such suit or proceeding may be determined in any such court. The Issuer and each Guarantor, to the fullest extent permitted by applicable law, irrevocably and fully waives the defense of
an inconvenient forum to the maintenance of such suit or proceeding, and irrevocably and fully waives any right to trial by jury, and each of the Issuer and each Guarantor (other than any Guarantor incorporated in the State of New York) shall
irrevocably designate and appoint Virgin Media (the “Registered Agent”) (whose registered office as of the date hereof is Virgin Media Inc. 12300 Liberty Boulevard, Englewood, CO 

  
 136 

 
80112, USA), as its registered agent upon whom process may be served in any such suit or proceeding. This designation shall remain in place unless it is substituted by the Issuer with written
notice to all parties hereto. Each of the Issuer and each Guarantor (other than any Guarantor incorporated in the State of New York) will notify the Registered Agent of such designation and appointment and that the Registered Agent has accepted the
same in writing. Such appointment shall be irrevocable unless and until replaced by an agent reasonably acceptable to the Trustee. The Issuer and each Guarantor (other than any Guarantor incorporated in the State of New York) will further agree that
service of process upon its Registered Agent and written notice of said service to the Issuer or such Guarantor mailed by first class mail or delivered to its Registered Agent shall be deemed in every respect effective service of process upon the
Issuer and such Guarantor in any such suit or proceeding. 
 Nothing herein shall affect the right of any person to serve process in any
other manner permitted by law. The Issuer and each Guarantor agrees that a final action in any such suit or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other lawful manner. 

The Issuer and each Guarantor hereby irrevocably waives, to the extent permitted by law, any immunity to jurisdiction to which it may
otherwise be entitled (including, without limitation, immunity to pre-judgment attachment, post-judgment attachment and execution) in any legal suit, action or proceeding against it arising out of or based on this Indenture, the Notes or the
transactions contemplated hereby. 
 The provisions of this Section 14.09 are intended to be effective upon the execution of this
Indenture and the Notes without any further action by the Issuer or the Trustee and the introduction of a true copy of this Indenture into evidence shall be conclusive and final evidence as to such matters. 

Section 14.10 No Adverse Interpretation of Other Agreements 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Issuer or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 14.11 Successors 

All agreements of the Issuer and Guarantor in this Indenture, the Notes and the Note Guarantees will bind its respective successors. All
agreements of the Trustee in this Indenture will bind its successors. 
 Section 14.12 Severability 

In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions will not in any way be affected or impaired thereby. 
 Section 14.13 Counterpart Originals 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same
agreement. 
 Section 14.14 Table of Contents, Headings, etc. 

The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof. 

  
 137 

 Section 14.15 Prescription 

Claims against the Issuer for the payment of principal or Additional Amounts, if any, on the Notes will be prescribed ten years after the
applicable due date for payment thereof. Claims against the Issuer for the payment of interest on the Notes will be prescribed five years after the applicable due date for payment of interest. 

Section 14.16 USA Patriot Act 
 The
parties hereto acknowledge that in order to help the United States government fight the funding of terrorism and money laundering activities, pursuant to Federal regulations that became effective on October 1, 2003, Section 326 of the USA
PATRIOT Act requires all financial institutions to obtain, verify, record and update information that identifies each person establishing a relationship or opening an account. The parties to this Indenture agree that they will provide The Bank of
New York Mellon such information as it may request, from time to time, in order for The Bank of New York Mellon to satisfy the requirements of the USA PATRIOT Act, including but not limited to the name, address, tax identification number and other
information that will allow it to identify the individual or entity who is establishing the relationship or opening the account and may also ask for formation documents such as articles of incorporation or other identifying documents to be provided.

 [Signatures on following page] 

  
 138 

 Dated as of January 28, 2015 

 

			
	 VIRGIN MEDIA FINANCE PLC
 as
Issuer

		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Director
	
	VIRGIN MEDIA INC.
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President
	
	VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Director
	
	VIRGIN MEDIA INVESTMENTS LIMITED
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Director
	
	VIRGIN MEDIA (UK) GROUP LLC
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Director
	
	VIRGIN MEDIA COMMUNICATIONS LIMITED
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Director
	
	VIRGIN MEDIA GROUP LLC
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President

  
 (Signature page
to Senior Notes Indenture) 

 
			
	 THE BANK OF NEW YORK MELLON, LONDON BRANCH,

as Trustee and Principal Paying Agent

		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President
	
	 THE BANK OF NEW YORK MELLON,
 as
Dollar Notes Registrar, Transfer Agent and Paying Agent

		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President
	
	 THE BANK OF NEW YORK MELLON (LUXEMBOURG) S.A.,

as Euro Notes Registrar and Transfer Agent

		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President

  
 (Signature page
to Senior Notes Indenture) 

 EXHIBIT A 

FORM OF GLOBAL NOTE 
 [Face
of Global Note] 
 Virgin Media Finance PLC. 

[5  3⁄4% Senior Notes due 2025] 

[4  1⁄2% Senior Notes due 2025] 

 

			
	No. [    ]		 [CUSIP for Dollar Notes][for Reg S][—] [for 144A]
[—]
 ISIN][for Dollar Notes][for Reg S][—] [for
144A] [—]

		
			 [COMMON CODE] [for Euro Notes]]for Reg S][—] [for 144A] [—]
 ISIN][for Euro Notes][for Reg S][—] [for 144A] [—]

		
			[$][€]:         
		
			Issue Date:                     

 Virgin Media Finance PLC, a public limited company incorporated under the laws of England and Wales, having its registered
office at Media House, Bartley Wood Business Park, Bartley Way, Hook, Hampshire, RG27 9UP, United Kingdom, for value received, promises to pay to [The Bank of New York Depository (Nominees) Limited][Cede & Co.], upon surrender hereof, the
principal sum as set forth on Schedule A attached hereto on January 15, 2025 (with such adjustments as are listed in such schedule). 
 Capitalized
terms used herein shall have the same meanings assigned to them in this Indenture referred to below unless otherwise indicated. 
 Interest Payment Dates:
January 15 and July 15. 
 Regular Record Dates: January 1 and July 1 immediately preceding the related interest payment date. 

Additional provisions of this Note are set forth on the other side of this Note. 

(Signature pages to follow) 

  
 A-1 

 EXHIBIT A 
  

 IN WITNESS WHEREOF, Virgin Media Finance PLC has caused this Note to be signed manually by its duly
authorized officer. 
 Dated: 
  

					
	VIRGIN MEDIA FINANCE PLC
	
	AS ISSUER
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 A-2 

 EXHIBIT A 
  

			
	Certificate of Authentication
	
	This is one of the Notes referred to in the within-mentioned Indenture:
	
	 THE BANK OF NEW YORK MELLON, LONDON BRANCH

as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-3 

 EXHIBIT A 
  

 [5
 3⁄4% Senior Notes due 2025]1 

[4  1⁄2% Senior Notes due 2025]2 
 THE SECURITY EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER
SECTION 5 OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED,
SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED
IN RULE 144A UNDER THE U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT, (2) AGREES ON ITS OWN BEHALF
AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS IN THE CASE OF RULE 144A NOTES: ONE
YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY AND IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE COMMENCEMENT OF THIS
OFFERING AND THE DATE ON WHICH THIS SECURITY (OR PREDECESSOR OF THIS SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTIONS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S, ONLY (A) TO THE ISSUER, (B) PURSUANT
TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A
“QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE U.S. SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

BY ACCEPTING THIS NOTE (OR AN INTEREST IN THE NOTES REPRESENTED HEREBY) EACH ACQUIRER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT
THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT HOLDS THIS NOTE OR ANY INTEREST HEREIN IT WILL NOT BE,
AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN 
  

	1 	Applicable to the Dollar Notes. 

	2 	 Applicable to the Euro Notes. 

  
 A-4 

 EXHIBIT A 
  

 
SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)), SUBJECT TO THE PROVISIONS OF PART 4 OF SUBTITLE B OF TITLE I OF
ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), APPLIES, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R.
SECTION 2510.3 101 (AS MODIFIED BY SECTION 3(42) OF ERISA)), BY REASON OF SUCH PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “BENEFIT PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON U.S. PLAN WHICH IS SUBJECT TO ANY
FEDERAL, STATE, LOCAL, NON U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE PROHIBITED TRANSACTION PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND NO
PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN INVESTOR OR SUCH A GOVERNMENTAL, CHURCH OR NON U.S. PLAN, OR (B) ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE
OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA AND/OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A GOVERNMENTAL, CHURCH OR NON U.S. PLAN, A NON
EXEMPT VIOLATION OF ANY SIMILAR LAWS); (2) NEITHER THE ISSUER NOR ANY OF ITS AFFILIATES IS A “FIDUCIARY” (WITHIN THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE CODE OR, WITH RESPECT TO A GOVERNMENTAL, CHURCH OR
NON U.S. PLAN, ANY DEFINITION OF “FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO THE PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THIS NOTE, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF THEIR AFFILIATES OF
ANY RIGHTS IN CONNECTION WITH THIS NOTE, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION WITH THIS NOTE AND THE
TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS NOTE. 
 THIS GLOBAL NOTE IS HELD BY THE [IN THE CASE OF DOLLAR GLOBAL NOTES: CUSTODIAN/ IN THE CASE OF EURO
GLOBAL NOTES: COMMON DEPOSITARY] (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS
GLOBAL NOTE MAY BE TRANSFERRED OR EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE; (II) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE; AND (III) THIS GLOBAL
NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE. 
 [THIS GLOBAL NOTE IS A TEMPORARY GLOBAL NOTE FOR
PURPOSES OF REGULATION S UNDER THE U.S. SECURITIES ACT. NEITHER THIS TEMPORARY GLOBAL NOTE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD, DELIVERED OR EXCHANGED FOR AN INTEREST IN A PERMANENT GLOBAL NOTE OR OTHER NOTE EXCEPT UPON DELIVERY OF THE
CERTIFICATIONS SPECIFIED IN THE INDENTURE.]3 
 [THE FOLLOWING INFORMATION IS SUPPLIED SOLELY
FOR U.S. FEDERAL INCOME TAX PURPOSES. THIS NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”) WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND THIS LEGEND IS REQUIRED BY
SECTION 1275(c) OF THE CODE.] 
  

	3 	Applicable to Regulation S Temporary Global Notes. 

  
 A-5 

 EXHIBIT A 
  

 [Back of Global Note] 

The term “Issuer” means, Virgin Media Finance PLC, and any and all successors thereto. Capitalized terms used herein shall have the meanings
assigned to them in the Indenture referred to below unless otherwise indicated. 
 (i) INTEREST. The
Issuer promises to pay interest on the principal amount of this Note at [5.750%]4[4.500%]5 per annum from the date of issuance until maturity
and shall pay the Additional Amounts payable pursuant to Section 4.18 of the Indenture referred to below. The Issuer will pay interest and Additional Amounts semi-annually in arrears on January 15 and July 15 of each year or, if any
such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Regular Record Date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be [    ]. The Issuer shall pay interest (including post-petition interest in any
proceeding under any bankruptcy, insolvency, reorganization or other similar law) on overdue principal and premium, if any, at a rate that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition
interest in any proceeding under any bankruptcy, insolvency, reorganization or other similar law) on overdue installments of interest and Additional Amounts (without regard to any applicable grace periods) at the same rate to the extent lawful.
Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 [Until this Regulation S Temporary Global Note is exchanged for one or
more Regulation S Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to the same
benefits as other Notes under the Indenture.]6 
 (ii) METHOD
OF PAYMENT. The Issuer will pay cash interest on the Notes (except defaulted interest) and Additional Amounts to the Persons who are registered Holders of Notes at the close of business on
January 1 and July 1 immediately preceding the Interest Payment Date, even if such Notes are canceled after such Regular Record Date and on or before such Interest Payment Date, except as provided in Section 2.13 of the Indenture with
respect to defaulted interest. The [Dollar Notes]7[Euro Notes]8 will be payable as to principal, premium and Additional Amounts, if any, and
interest at the office or agency of the Issuer maintained for such purpose; provided that, at the option of the Issuer, payment of interest and Additional Amounts with respect to Definitive Registered Notes may be made by check mailed to the
Holders at their addresses set forth in the Register of Holders; and provided further that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium and Additional Amounts on,
all Global Notes the Holders of which shall have provided wire transfer instructions to the Issuer or the Paying Agent. Such payment shall be in [dollars]9[euros]10. Holders must surrender Notes to a Paying Agent to collect principal and/or premium payments. 

 

	4 	Applicable to the Dollar Notes. 

	5 	Applicable to the Euro Notes. 

	6 	Applicable to Regulation S Temporary Global Notes. 

	7 	Applicable to the Dollar Notes. 

	8 	Applicable to the Euro Notes. 

	9 	Applicable to the Dollar Notes. 

	10 	Applicable to the Euro Notes. 

  
 A-6 

 EXHIBIT A 
  

 (iii) PAYING AGENT AND
REGISTRAR. The Issuer has appointed [The Bank of New York Mellon, as initial Paying Agent, Transfer Agent and Registrar, and has appointed The Bank of New York Mellon, London Branch, as Principal Paying Agent]11 [The Bank of New York Mellon, London Branch, as Principal Paying Agent and The Bank of New York Mellon (Luxembourg) S.A., as initial Transfer Agent and Registrar]12. The Issuer may change any Paying Agent, Transfer Agent or Registrar upon notice to the Trustee. The Issuer may act as Registrar or Paying Agent. 

(iv) INDENTURE. The Issuer issued the Notes under an Indenture, dated as of January 28, 2015 (the
“Indenture”), among, inter alios, the Issuer and the Trustee named therein. The terms of the Notes include those stated in the Indenture and the Notes are subject to all such terms of the Indenture. Holders are referred to
the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

(v) INTERCREDITOR DEED. Each Holder, by accepting a Note, agrees to be bound by all of the terms and
provisions of the Indenture and the Intercreditor Deed, as the same may be amended from time to time, and acknowledges that the claims of Holders of the Notes are subject to the Intercreditor Deed. Each Holder, by accepting a Note, authorizes and
requests the Trustee to, on such Holder’s behalf, (a) make all undertakings, representations, offers and agreements of the Trustee set forth in the Intercreditor Deed and (b) take all actions called for to be taken by the Trustee in
the Intercreditor Deed. 
 (vi) ADDITIONAL AMOUNTS. The Issuer will pay to the Holders
of the Notes any Additional Amounts as may become payable under Section 4.18 of the Indenture. 
 (vii) REDEMPTION
AND REPURCHASE; DISCHARGE PRIOR TO REDEMPTION OR MATURITY. 

 

	 	(a)	This Note is subject to optional redemption and may be the subject of a Change of Control Offer or an Asset Disposition Offer, as further described in the Indenture. There is no sinking fund or mandatory redemption
applicable to this Note. 

  

	 	(b)	If the Issuer deposits with the Trustee money or [U.S. Government Obligations]13[European Government
Obligations]14 sufficient to pay the then outstanding principal of, premium, if any, and accrued interest on the Notes to redemption or maturity, the Issuer may in certain circumstances be
discharged from the Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture. 

 

	11 	Applicable to the Dollar Notes. 

	12 	Applicable to the Euro Notes. 

	13 	Applicable to the Dollar Notes. 

	14 	Applicable to the Euro Notes. 

  
 A-7 

 EXHIBIT A 
  

 (viii) DENOMINATIONS, TRANSFER,
EXCHANGE. The Global Notes are in global registered form without coupons attached. [The Dollar Global Notes will represent the aggregate principal amount of all the Dollar Notes issued and not yet cancelled other
than Dollar Definitive Registered Notes.]15 [The Euro Global Notes will represent the aggregate principal amount of all the Euro Notes issued and not yet cancelled other than Euro Definitive
Registered Notes.]16 The transfer of Notes will be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements, transfer documents and opinions, and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to the Indenture, there are certain periods during which the
Trustee will not be required to authenticate, register the transfer of or exchange any Note or certain portions of a Note. 
 [This Regulation S Temporary
Global Note will be exchanged by the Trustee, with no further action by the Issuer, for one or more Regulation S Permanent Global Notes on the first day following the expiry of the Restricted Period (as defined in the Indenture). Upon exchange of
this Regulation S Temporary Global Note for one or more Regulation S Permanent Global Notes, the Trustee shall simultaneously cancel this Regulation S Temporary Global Note.]17 

(ix) PERSONS DEEMED OWNERS. The registered Holder shall be treated as its
owner for all purposes. 
 (x) AMENDMENT, SUPPLEMENT AND
WAIVER. Subject to certain exceptions, the Indenture, the Notes and the Intercreditor Deed may be amended, or default may be waived, with the consent of the Holders of a majority in principal amount of the
outstanding Notes. Without notice to or consent of any Holder, the Issuer and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency. 

(xi) DEFAULTS AND REMEDIES. Except as set forth in Section 6.02 of the
Indenture, if an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due or payable. If a bankruptcy or insolvency
default with respect to the Issuer, a Significant Subsidiary, or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03 of the
Indenture, would constitute a Significant Subsidiary) occurs and is continuing, the Notes automatically become due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity
satisfactory to it before it enforces the Indenture or the Notes. 
 (xii) TRUSTEE DEALINGS
WITH ISSUER. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer, or its Affiliates, and may otherwise deal with the
Issuer, or its Affiliates, as if it were not the Trustee. 
 (xiii) NO RECOURSE AGAINST
OTHERS. No director, officer, employee, incorporator member or stockholder of the Issuer, any of its parent companies or any of its Subsidiaries or Affiliates, as such shall have any liability for any obligations of
the Issuer under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations of their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for the issuance of the Notes. 
  

	15 	Applicable to the Dollar Notes. 

	16 	Applicable to the Euro Notes. 

	17 	Applicable to Regulation S Temporary Global Notes. 

  
 A-8 

 EXHIBIT A 
  

 (xiv) AUTHENTICATION. This Note shall not be valid until
authenticated by the manual signature of the Trustee or another Authenticating Agent. 
 (xv) GOVERNING
LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE. 

(xvi) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as:
TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

(xvii) [CUSIP and]18 ISIN [AND COMMON
CODE NUMBERS]19. [Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has cause CUSIP numbers to
be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders.]20 The Issuer has caused ISIN numbers to be printed on the Notes and the Trustee
may use ISIN numbers in notices of redemption as a convenience to Holders. [In addition, the Issuer has caused Common Code numbers to be printed on the Notes and the Trustee may use Common Code numbers in notices of redemption as a convenience to
Holders.]21 No representation is made as to the accuracy of any such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon. 
 (xviii) COPY OF INDENTURE AND
OTHER AGREEMENTS. The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the Intercreditor Deed. Requests may be made to the Issuer, Virgin Media
Finance PLC, Media House, Bartley Wood Business Park, Bartley Way, Hook, Hampshire, RG27 9UP, United Kingdom, Telephone: +44 1256 752000, Fax: +44 1256 752170. 

 

	18 	Applicable to the Dollar Notes. 

	19 	Applicable to the Euro Notes. 

	20 	Applicable to the Dollar Notes. 

	21 	Applicable to the Euro Notes. 

  
 A-9 

 EXHIBIT A 
  

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to: 
  

 
 (Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
  

			
	and irrevocably appoint	 	  

 to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 

			
	Date:	 	  

  

			
	Your Signature:	 	  

 

			
	(Sign exactly as your name appears on the face of this Note)

  

					
	Signature Guarantee*:	 	  
	  	

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-10 

 EXHIBIT A 
  

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10 or 4.14 of
the Indenture, check the appropriate box below: 
  

			
	 •       Section 4.10
		 •       Section 4.14

 If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or Section 4.14
of the Indenture, state the amount you elect to have purchased: 
 [$][€]         

 

			
	Date:		  

 

			
	Your Signature:		  

 
			
	
	 (Sign exactly as your name appears

on the face of this Note)

		
	Tax Identification No.:		  

  

					
	Signature Guarantee*:		  
		

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-11 

 EXHIBIT A 
  

 SCHEDULE A 

EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 
 The
initial principal amount of this Global Note is [$][€]        . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Registered Note, or
exchanges of a part of another Global Note or Definitive Registered Note for an interest in this Global Note, have been made: 
  

									
	 Date of
Exchange
	 	Amount of
decrease in
Principal Amount
of this Global
Note	 	Amount of
increase in
Principal Amount
of this Global
Note	 	Principal Amount
of this Global
Note following
such decrease
(or increase)	 	Signature of
authorized officer
of Transfer
Agent
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  
 A-12 

 EXHIBIT B 

FORM OF DEFINITIVE REGISTERED NOTE 

[Face of Definitive Registered Note] 

[5  3⁄4% Senior Notes due 2025]22 
 [4
 1⁄2% Senior Notes due 2025]23 
  

			
	No.		[$][€]        

 Virgin Media Finance PLC 

Registered office at Media House, Bartley Wood Business Park, Bartley Way, Hook, 

Hampshire, RG27 9UP, United Kingdom 

Virgin Media Finance PLC, organized under the laws of England and Wales, for value received, promises to pay to
                     or registered assigns, upon surrender hereof, the principal sum of
                                         [U.S.
dollars ($        )]24 [euros (€        )]25 on
January 15, 2025. 
 Capitalized terms used herein shall have the same meanings assigned to them in the Indenture referred to below unless otherwise
indicated. 
 Interest Payment Dates: January 15 and July 15. 

Regular Record Dates: January 1 and July 1 preceding the related interest payment date. 

Additional provisions of this Note are set forth on the other side of this Note. 

(Signature pages to follow) 

 

	22 	Applicable to the Dollar Notes. 

	23 	Applicable to the Euro Notes. 

	24 	Applicable to the Dollar Notes. 

	25 	Applicable to the Euro Notes. 

  
 B-1 

 EXHIBIT B 
  

 IN WITNESS WHEREOF, Virgin Media Finance PLC has caused this Note to be signed manually by its duly
authorized officer. 
 Dated: 
  

					
	VIRGIN MEDIA FINANCE PLC
	
	AS ISSUER
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 B-2 

 EXHIBIT B 
  

			
	Certificate of Authentication
	
	This is one of the Notes referred to in the within-mentioned Indenture:
	
	 THE BANK OF NEW YORK MELLON, LONDON BRANCH

as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 B-3 

 EXHIBIT B 
  

 [5 3/4% SENIOR NOTES DUE 2025]26 

[4 1/2% SENIOR NOTES DUE
2025]27 
 THE SECURITY EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM
REGISTRATION UNDER SECTION 5 OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND THE SECURITY EVIDENCED HEREBY
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL
BUYER” (AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT,
(2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS IN THE
CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY AND IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE
LATER OF THE COMMENCEMENT OF THIS OFFERING AND THE DATE ON WHICH THIS SECURITY (OR PREDECESSOR OF THIS SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTIONS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S, ONLY
(A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT,
TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE U.S. SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

BY ACCEPTING THIS NOTE (OR AN INTEREST IN THE NOTES REPRESENTED HEREBY) EACH ACQUIRER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT
THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT 

 

	26 	Applicable to the Dollar Notes. 

	27 	 Applicable to the Euro Notes. 

  
 B-4 

 EXHIBIT B 
  

 
HOLDS THIS NOTE OR ANY INTEREST HEREIN IT WILL NOT BE, AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)), SUBJECT TO THE PROVISIONS OF PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED,
(“CODE”), APPLIES, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3 101 (AS MODIFIED BY SECTION 3(42) OF ERISA)), BY REASON OF SUCH PLAN’S
INVESTMENT IN SUCH ENTITY (EACH, A “BENEFIT PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON U.S. PLAN WHICH IS SUBJECT TO ANY FEDERAL, STATE, LOCAL, NON U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY
RESPONSIBILITY OR THE PROHIBITED TRANSACTION PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND NO PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY
BENEFIT PLAN INVESTOR OR SUCH A GOVERNMENTAL, CHURCH OR NON U.S. PLAN, OR (B) ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON EXEMPT PROHIBITED
TRANSACTION UNDER SECTION 406 OF ERISA AND/OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A GOVERNMENTAL, CHURCH OR NON U.S. PLAN, A NON EXEMPT VIOLATION OF ANY SIMILAR LAWS); (2) NEITHER THE ISSUER NOR ANY OF ITS AFFILIATES IS A
“FIDUCIARY” (WITHIN THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE CODE OR, WITH RESPECT TO A GOVERNMENTAL, CHURCH OR NON U.S. PLAN, ANY DEFINITION OF “FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO THE
PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THIS NOTE, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THIS NOTE, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS
AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION WITH THIS NOTE AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS NOTE. 

  
 B-5 

 EXHIBIT B 
  

 [Back of Definitive Registered Note] 

The term “Issuer” means, Virgin Media Finance PLC, as the context may require, and any and all successors thereto. Capitalized terms used herein
shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (i)
INTEREST. The Issuer promises to pay interest on the principal amount of this Note at [5.750%]28[4.500%]29
per annum from the date of issuance until maturity and shall pay the Additional Amounts payable pursuant to Section 4.18 of the Indenture referred to below. The Issuer will pay interest and Additional Amounts semi-annually in arrears on
January 15 and July 15 of each year or, if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Regular Record Date referred to on the
face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be
[                    ]. The Issuer shall pay interest (including post-petition interest in any proceeding under any bankruptcy, insolvency,
reorganization or other similar law) on overdue principal and premium, if any, at a rate that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any bankruptcy,
insolvency, reorganization or other similar law) on overdue installments of interest and Additional Amounts (without regard to any applicable grace periods) at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day
year of twelve 30-day months. 
 (ii) METHOD OF PAYMENT. The Issuer will
pay cash interest on the Notes (except defaulted interest) and Additional Amounts to the Persons who are registered Holders of Notes at the close of business on January 1 and July 1 immediately preceding the Interest Payment Date, even if
such Notes are canceled after such Regular Record Date and on or before such Interest Payment Date, except as provided in Section 2.13 of the Indenture with respect to defaulted interest. The [Dollar Notes]30[Euro Notes]31 will be payable as to principal, premium and Additional Amounts, if any, and interest at the office or agency of the Issuer
maintained for such purpose; provided that, at the option of the Issuer, payment of interest and Additional Amounts with respect to Definitive Registered Notes may be made by check mailed to the Holders at their addresses set forth in the
Register of Holders; and provided further that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium and Additional Amounts on, all Global Notes the Holders of which shall
have provided wire transfer instructions to the Issuer or the Paying Agent. Such payment shall be in [dollars]32[euros]33. Holders must
surrender Notes to a Paying Agent to collect principal and/or premium payments. 
 (iii) PAYING AGENT
AND REGISTRAR. The Issuer has appointed [The Bank of New York Mellon, as initial Paying Agent, Transfer Agent and Registrar, and has appointed The 

 

	28 	Applicable to the Dollar Notes. 

	29 	Applicable to the Euro Notes. 

	30 	Applicable to the Dollar Notes. 

	31 	Applicable to the Euro Notes. 

	32 	Applicable to the Dollar Notes. 

	33 	 Applicable to the Euro Notes. 

  
 B-6 

 EXHIBIT B 
  

 
Bank of New York Mellon, London Branch, as Principal Paying Agent]34 [The Bank of New York Mellon, London Branch, as Principal Paying Agent
and The Bank of New York Mellon (Luxembourg) S.A., as initial Transfer Agent and Registrar]35. The Issuer may change any Paying Agent, Transfer Agent or Registrar upon notice to the Trustee. The
Issuer may act as Registrar or Paying Agent. 
 (iv) INDENTURE. The Issuer issued the Notes under an
Indenture, dated as of January 28, 2015 (the “Indenture”), among, inter alia, the Issuer and the Trustee named therein. The terms of the Notes include those stated in the Indenture and the Notes are subject to all such
terms of the Indenture. Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling. 
 (v) INTERCREDITOR DEED. Each Holder, by accepting a Note, agrees to be bound by all of
the terms and provisions of the Indenture and the Intercreditor Deed, as the same may be amended from time to time, and acknowledges that the claims of Holders of the Notes are subject to the Intercreditor Deed. Each Holder, by accepting a Note,
authorizes and requests the Trustee to, on such Holder’s behalf, (a) make all undertakings, representations, offers and agreements of the Trustee set forth in the Intercreditor Deed and (b) take all actions called for to be taken by
the Trustee in the Intercreditor Deed. 
 (vi) ADDITIONAL AMOUNTS. The Issuer will pay
to the Holders of the Notes any Additional Amounts as may become payable under Section 4.18 of the Indenture. 
 (vii)
REDEMPTION AND REPURCHASE; DISCHARGE PRIOR TO REDEMPTION OR MATURITY. 

 

	 	(a)	This Note is subject to optional redemption and may be the subject of a Change of Control Offer or an Asset Disposition Offer, as further described in the Indenture. There is no sinking fund or mandatory redemption
applicable to this Note. 

  

	 	(b)	If the Issuer deposits with the Trustee money or [U.S. Government Obligations]36[European Government
Obligations]37 sufficient to pay the then outstanding principal of, premium, if any, and accrued interest on the Notes to redemption or maturity, the Issuer may in certain circumstances be
discharged from the Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture. 

(viii) DENOMINATIONS, TRANSFER, EXCHANGE. The [Dollar]38[Euro]39 Definitive Registered Notes are in registered form without coupons attached in denominations of [$200,000]40[€100,000]41 and integral multiples of [$1,000]42[€1,000]43 above 
  

	34 	Applicable to the Dollar Notes. 

	35 	Applicable to the Euro Notes. 

	36 	Applicable to the Dollar Notes. 

	37 	Applicable to the Euro Notes. 

	38 	Applicable to the Dollar Notes. 

	39 	Applicable to the Euro Notes. 

	40 	Applicable to the Dollar Notes. 

	41 	Applicable to the Euro Notes. 

	42 	Applicable to the Dollar Notes. 

	43 	 Applicable to the Euro Notes. 

  
 B-7 

 EXHIBIT B 
  

 
[$200,000]44[€100,000]45. The transfer of Notes will be registered and Notes may be
exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements, transfer documents and opinions, and the Issuer may require a Holder to pay any taxes and fees
required by law or permitted by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to authenticate, register the transfer of or exchange any Note or certain portions of a Note. 

(ix) PERSONS DEEMED OWNERS. The registered Holder shall be treated as its
owner for all purposes. 
 (x) AMENDMENT, SUPPLEMENT AND
WAIVER. Subject to certain exceptions, the Indenture, the Notes and the Intercreditor Deed may be amended, or default may be waived, with the consent of the Holders of a majority in principal amount of the
outstanding Notes. Without notice to or consent of any Holder, the Issuer and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency. 

(xi) DEFAULTS AND REMEDIES. Except as set forth in Section 6.02 of the
Indenture, if an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due or payable. If a bankruptcy or insolvency
default with respect to the Issuer, a Significant Subsidiary, or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03 of the
Indenture, would constitute a Significant Subsidiary) occurs and is continuing, the Notes automatically become due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity
satisfactory to it before it enforces the Indenture or the Notes. 
 (xii) TRUSTEE DEALINGS
WITH ISSUER. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer, the Guarantors or their respective Affiliates, and may
otherwise deal with the Issuer, the Guarantors or their respective Affiliates, as if it were not the Trustee. 
 (xiii) NO
RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator member or stockholder of the Issuer, any of its parent companies or any of its Subsidiaries or Affiliates, as such
shall have any liability for any obligations of the Issuer under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations of their creation. Each Holder by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 (xiv) GOVERNING
LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE. 

(xv) AUTHENTICATION. This Note shall not be valid until authenticated by the manual signature of the
Trustee or another Authenticating Agent. 
  

	44 	Applicable to the Dollar Notes. 

	45 	Applicable to the Euro Notes. 

  
 B-8 

 EXHIBIT B 
  

 (xvi) ABBREVIATIONS. Customary abbreviations may be used
in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform
Gifts to Minors Act). 
 (xvii) [CUSIP and]46 ISIN [AND
COMMON CODE]47 NUMBERS. [Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures,
the Issuer has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders.]48 The Issuer has caused ISIN numbers to
be printed on the Notes and the Trustee may use ISIN numbers in notices of redemption as a convenience to Holders. [In addition, the Issuer has caused Common Code numbers to be printed on the Notes and the Trustee may use Common Code numbers in
notices of redemption as a convenience to Holders.]49 No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption or
purchase and reliance may be placed only on the other identification numbers placed thereon. 
 (xiii) COPY
OF INDENTURE AND OTHER AGREEMENTS. The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the
Intercreditor Deed. Requests may be made to the Issuer, Virgin Media Finance PLC, Media House, Bartley Wood Business Park, Bartley Way, Hook, Hampshire, RG27 9UP, United Kingdom, Telephone: +44 1256 752000, Fax: +44 1256 752170. 

 

	46 	Applicable to the Dollar Notes. 

	47 	Applicable to the Euro Notes. 

	48 	Applicable to the Dollar Notes. 

	49 	Applicable to the Euro Notes. 

  
 B-9 

 EXHIBIT B 
  

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to: 
  

 
 (Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
  

			
	and irrevocably appoint		  

 to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 

			
	Date:		  

  

			
	Your Signature:		  

		
			(Sign exactly as your name appears on the face of this Note)

  

			
	Signature Guarantee*:		  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 B-10 

 EXHIBIT B 
  

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10 or 4.14 of
the Indenture, check the appropriate box below: 
  

			
	 •       Section 4.10
		 •       Section 4.14

 If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or Section 4.14
of the Indenture, state the amount you elect to have purchased: 
 [$][€]         

 

			
	Date:		  

  

			
	Your Signature:		  

(Sign exactly as your name appears on the face of this Note) 

			
		
	Tax Identification No.:		  

  

			
	Signature Guarantee*:		  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 B-11 

 EXHIBIT C 

FORM OF CERTIFICATE OF TRANSFER 
 Virgin
Media Finance PLC 
 Media House 
 Bartley Wood Business Park

 Bartley Way, Hook 
 Hampshire, RG 27 9UP 

United Kingdom 
 The Bank of New York Mellon, London Branch 

Merck House 
 Seldown 

Poole 
 Dorset BH15 1PX United Kingdom 

Email: corpsov4@bnymellon.com 
 Facsimile +44 (0)20 7964 2536 

Attention: Corporate Trust Administration 
  

	 	Re:	[5 3/4 % Senior Notes due 2025][4 1/2 % Senior Notes due 2025] 

 Reference is hereby made to the Indenture, dated as
of January 28, 2015 (the “Indenture”), among, inter alios, Virgin Media Finance PLC, as issuer, and The Bank of New York Mellon, London Branch, as Trustee. Capitalized terms used but not defined herein shall have the
meanings given to them in the Indenture. 

                    , (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of [$][€]            
in such Note[s] or interests (the “Transfer”), to
                                         (the
“Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 

[CHECK ONLY ONE] 
 1.  ̈ Check if Transfer Is Pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A (“Rule 144A”) under the U.S. Securities Act of 1933,
as amended (the “U.S. Securities Act”), and, accordingly, the Transferor hereby further certifies that the Book-Entry Interest or Definitive Registered Note is being transferred to a Person that the Transferor reasonably believed
and believes is purchasing the Book-Entry Interest or Definitive Registered Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a
“qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable securities laws of any jurisdiction. Upon consummation of the
proposed Transfer in accordance with the terms of the Indenture, the transferred Book-Entry Interest or Definitive Registered Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global
Note and/or the 144A Definitive Registered Note and in the Indenture and the U.S. Securities Act. 
 2.
 ̈ Check if Transfer Is Pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 and Rule 904 under the U.S. Securities Act and, accordingly,
the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the United States and (A) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any
Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (B) the transaction was executed in, on or through the facilities of a 

  
 C-1 

 EXHIBIT C 
  

 
designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States; (ii) no
directed selling efforts have been made in contravention of the requirements of Rule 904(b) of Regulation S under the U.S. Securities Act; (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the U.S.
Securities Act; and (iv) if the Transfer is being made prior to the completion of the Restricted Period, the Transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon
consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred Book-Entry Interest or Definitive Registered Note will be subject to the restrictions on Transfer enumerated
in the Private Placement Legend printed on the Regulation S Global Note and/or the Definitive Registered Note and in the Indenture and the U.S. Securities Act. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer and the Trustee and the Issuer
and the Trustee are irrevocably authorized to produce this certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	  

	[Insert Name of Transferor]
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Dated:	 	  

  
 C-2 

 EXHIBIT C 
  

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE] 

 ̈ a Book-Entry Interest held through
DTC/Euroclear/Clearstream Account No.            , in the: 
  

	 	(i)	 ̈ 144A Global Note (ISIN             ), or 

 

	 	(ii)	 ̈ Regulation S Global Note (ISIN             ), or 

 

	 	(b)	 ̈ a 144A Definitive Registered Note; or 

  

	 	(c)	 ̈ a Regulation S Definitive Registered Note. 

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 

(a)  ̈ a Book-Entry Interest through
DTC/Euroclear/Clearstream Account No.             in the: 
  

	 	(i)	 ̈ 144A Global Note (ISIN             ), or 

 

	 	(ii)	 ̈ Regulation S Global Note (ISIN             ), or 

 

	 	(b)	 ̈ a 144A Definitive Registered Note; or 

  

	 	(c)	 ̈ a Regulation S Definitive Registered Note, 

in accordance with the terms of the Indenture. 

  
 C-3 

 EXHIBIT D 

FORM OF CERTIFICATE OF EXCHANGE 
 Virgin
Media Finance PLC 
 Media House 
 Bartley Wood Business Park

 Bartley Way, Hook 
 Hampshire, RG 27 9UP 

United Kingdom 
 The Bank of New York Mellon, London Branch 

Merck House 
 Seldown 

Poole 
 Dorset BH15 1PX United Kingdom 

Email: corpsov4@bnymellon.com 
 Facsimile +44 (0)20 7964 2536 

Attention: Corporate Trust Administration 
  

	 	Re:	[5 3/4 % Senior Notes due 2025][4 1/2 % Senior Notes due 2025] 

 Reference is hereby made to the
Indenture, dated as of January 28, 2015 (the “Indenture”), among, Virgin Media Finance PLC, as issuer, and The Bank of New York Mellon, London Branch, as Trustee. Capitalized terms used but not defined herein shall have the
meanings given to them in the Indenture. 

                       
                 , (the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified in Annex A hereto, in the
principal amount of [$][€]             in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 

(a) Check if Exchange is Book-Entry Interest in a Global Note to Definitive Registered Note. In connection with the Exchange of the
Owner’s Book-Entry Interest in the Global Note for a Definitive Registered Note with an equal principal amount, the Owner hereby certifies that the Definitive Registered Note is being acquired for the
Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Definitive Registered Note issued will continue to be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Definitive Registered Note and in the Indenture and the U.S. Securities Act. 
 (b) Check if
Exchange is from Definitive Registered Note to Book-Entry Interest in a Global Note. In connection with the Exchange of the Owner’s Definitive Registered Note for a Book-Entry Interest in the [CHECK ONE], 

 

	 	 ̈	144A Global Note 

  

	 	 ̈	Regulation S Global Note 

 with an equal principal amount, the Owner hereby certifies (i) the Book-Entry
Interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the U.S.
Securities Act, an in compliance with any applicable securities laws of any applicable jurisdiction. Upon consummation of the proposed Exchange in accordance with the terms of the 

  
 D-1 

 EXHIBIT D 
  

 
Indenture, the Book-Entry Interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Global Note and in the Indenture and
the U.S. Securities Act. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer and
the Trustee and the Issuer and the Trustee are irrevocably authorized to produce this certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	  

	[Insert Name of Owner]
		
	By:	 	  

		
	Name:	 	
		
	Title:	 	
		
	Dated:	 	  

  
 D-2 

 EXHIBIT D 
  

 ANNEX A TO CERTIFICATE OF EXCHANGE 

 

	1.	The Owner owns and proposes to exchange the following: 

 [CHECK ONE] 

(a)  ̈ a Book-Entry Interest held through
DTC/Euroclear/Clearstream Account No.            , in the: 
  

	 	(i)	 ̈ 144A Global Note (ISIN             ), or 

 

	 	(ii)	 ̈ Regulation S Global Note (ISIN             ), or 

 

	 	(b)	 ̈ a 144A Definitive Registered Note. 

  

	 	(c)	 ̈ a Regulation S Definitive Registered Note. 

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 

(a)  ̈ a Book-Entry Interest through
DTC/Euroclear/Clearstream Account No.             in the: 
  

	 	(i)	 ̈ 144A Global Note (ISIN             ), or 

 

	 	(ii)	 ̈ Regulation S Global Note (ISIN             ), or 

 

	 	(b)	 ̈ a 144A Definitive Registered Note; or 

  

	 	(c)	 ̈ a Regulation S Definitive Registered Note, 

in accordance with the terms of the Indenture. 

  
 D-3 

 EXHIBIT E 

FORM OF SUPPLEMENTAL INDENTURE 

TO BE DELIVERED BY SUBSEQUENT GUARANTORS 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
            , among                      (the “Additional Guarantor”),
Virgin Media Finance PLC, as Issuer (the “Issuer”), and The Bank of New York Mellon, London Branch, as Trustee under the Indenture referred to below (the “Trustee”). 

W I T N E S S E T H 
 WHEREAS,
the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of January 28, 2015, providing for the issuance of an initial aggregate principal amount of the $400,000,000 5 3/4% Senior Notes due 2025 (the “Dollar Notes”) and €460,000,000 4 1/2% Senior Notes due 2025 (the “Euro Notes” and, together with the Dollar Notes, the “Notes”). 

WHEREAS, the Indenture provides that under certain circumstances the Additional Guarantor shall execute and deliver to the Trustee a
Supplemental Indenture pursuant to which the Additional Guarantor shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Guarantee”);
and 
 WHEREAS, pursuant to Section 9.05 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental
Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Additional Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them
in the Indenture. 
 2. AGREEMENT TO GUARANTEE. The Additional Guarantor hereby agrees to
provide an unconditional Guarantee on the terms and subject to the conditions set forth in such Guarantee and in the Indenture. 
 3.
NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator member or stockholder of the Issuer, any of its parent companies or any of its Subsidiaries or Affiliates, as such
shall have any liability for any obligations of the Issuer under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations of their creation. Each Holder by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 5. NEW YORK
LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE. 

6. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. 
 7. EFFECT OF HEADINGS. The
Section headings herein are for convenience only and shall not affect the construction hereof. 

  
 E-1 

 EXHIBIT E 
  

 8. THE TRUSTEE. The Trustee shall not be responsible in any
manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Additional Guarantor and the Issuer. 

9. RATIFICATION OF INDENTURE; SUPPLEMENTAL INDENTURES
PART OF INDENTURE. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.
This Supplemental Indenture shall form a part of the Indenture for all purposes. 
 10. SUCCESSORS. All covenants and
agreements in this Supplemental Indenture by the parties hereto shall bind their successors. 
 (Signature page to follow.) 

  
 E-2 

 EXHIBIT E 
  

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

			
	[ADDITIONAL GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	VIRGIN MEDIA FINANCE PLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	THE BANK OF NEW YORK MELLON, LONDON BRANCH
		
	By:	 	  

		 	Name:
		 	Title:

  
 E-3 

 EXHIBIT F 

FORM OF NOTATION OF GUARANTEE 

For value received, each Guarantor (which term includes any successor Person under the Indenture) has, jointly and severally, unconditionally
guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture dated as of January 28, 2015 (the “Indenture”) among, inter alios, Virgin Media Finance PLC (the “Issuer”) and
The Bank of New York Mellon, London Branch, as trustee (the “Trustee”) and The Bank of New York Mellon (Luxembourg) S.A., (a) the due and punctual payment of the principal of, premium, Additional Amounts, if any, and interest
on, the Notes, whether at maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on overdue principal of and interest on the Notes, if any, if lawful, and the due and punctual performance of all other
obligations of the Issuer to the Holders or the Trustee all in accordance with the terms of the Indenture and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be
promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. The obligations of the Guarantors to the Holders and to the Trustee pursuant to the Note
Guarantee and the Indenture are expressly set forth in Articles 10 [and 13]50 of the Indenture and the Intercreditor Deed and reference is hereby made to the Indenture for the precise terms of the
Note Guarantee. Each Holder, by accepting the same, agrees to and shall be bound by such provisions. 
 Capitalized terms used but not defined herein have
the meanings given to them in the Indenture. 
  

			
	[GUARANTOR]
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	50 	Applicable to Subsidiary Guarantors only. 

  
 F-1EX-4.3

 Exhibit 4.3 

EXECUTION VERSION 
 ZIGGO
BOND FINANCE B.V. 
 $400,000,000 5.875% Senior Notes due 2025 

€400,000,000 4.625% Senior Notes due 2025 
  

 
 INDENTURE 

Dated as of January 29, 2015 
  

 
  

 
 DEUTSCHE TRUSTEE
COMPANY LIMITED 
 Trustee and Security Trustee 

DEUTSCHE BANK TRUST COMPANY AMERICAS 

Dollar Notes Paying Agent, Registrar and Transfer Agent 

DEUTSCHE BANK AG, LONDON BRANCH 

Euro Notes Paying Agent 
 DEUTSCHE
BANK LUXEMBOURG S.A. 
 Euro Notes Registrar and Transfer Agent 

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	ARTICLE 1.	  			
	DEFINITIONS AND INCORPORATION	  			
	BY REFERENCE	  			
			
	 Section 1.01
	 	 Definitions
	  	 	1	  
	 Section 1.02
	 	 Other Definitions
	  	 	46	  
	 Section 1.03
	 	 Rules of Construction
	  	 	47	  
		
	ARTICLE 2.	  			
	THE NOTES	  			
			
	 Section 2.01
	 	 Form and Dating
	  	 	47	  
	 Section 2.02
	 	 Execution and Authentication
	  	 	48	  
	 Section 2.03
	 	 Registrar and Paying Agent
	  	 	50	  
	 Section 2.04
	 	 Holders to Be Treated as Owners; Payments of Interest
	  	 	51	  
	 Section 2.05
	 	 Paying Agent to Hold Money
	  	 	51	  
	 Section 2.06
	 	 Holder Lists
	  	 	52	  
	 Section 2.07
	 	 Transfer and Exchange
	  	 	52	  
	 Section 2.08
	 	 Replacement Notes
	  	 	61	  
	 Section 2.09
	 	 Outstanding Notes
	  	 	61	  
	 Section 2.10
	 	 Treasury Notes
	  	 	62	  
	 Section 2.11
	 	 Temporary Notes
	  	 	62	  
	 Section 2.12
	 	 Cancellation
	  	 	62	  
	 Section 2.13
	 	 Defaulted Interest
	  	 	62	  
	 Section 2.14
	 	 CUSIP, ISIN or Common Code Number
	  	 	62	  
	 Section 2.15
	 	 Deposit of Moneys
	  	 	63	  
	 Section 2.16
	 	 Actions of Agents
	  	 	63	  
		
	ARTICLE 3.	  			
	REDEMPTION AND PREPAYMENT	  			
			
	 Section 3.01
	 	 Notices to Trustee
	  	 	63	  
	 Section 3.02
	 	 Selection of Notes to Be Redeemed or Purchased; Notices
	  	 	64	  
	 Section 3.03
	 	 Notice of Redemption
	  	 	64	  
	 Section 3.04
	 	 Effect of Notice of Redemption
	  	 	65	  
	 Section 3.05
	 	 Deposit of Redemption or Purchase Price
	  	 	65	  
	 Section 3.06
	 	 Notes Redeemed or Repurchased in Part
	  	 	65	  
	 Section 3.07
	 	 Optional Redemption
	  	 	65	  
	 Section 3.08
	 	 Special Mandatory Redemption
	  	 	67	  
	 Section 3.09
	 	 Mandatory Redemption
	  	 	68	  
	 Section 3.10
	 	 Redemption for Taxation Reasons
	  	 	68	  
	 Section 3.11
	 	 Offer to Purchase by Application of Excess Proceeds
	  	 	69	  
		
	ARTICLE 4.	  			
	COVENANTS	  			
			
	 Section 4.01
	 	 Payment of Notes
	  	 	72	  
	 Section 4.02
	 	 Maintenance of Office or Agency
	  	 	72	  
	 Section 4.03
	 	 Reports
	  	 	73	  
	 Section 4.04
	 	 Compliance Certificate
	  	 	75	  
	 Section 4.05
	 	 Taxes
	  	 	75	  
	 Section 4.06
	 	 Stay, Extension and Usury Laws
	  	 	75	  
	 Section 4.07
	 	 Limitation on Restricted Payments
	  	 	75	  
	 Section 4.08
	 	 Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	 	83	  

  
 i 

							
	 Section 4.09
	 	 Limitation on Indebtedness
	  	 	85	  
	 Section 4.10
	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	 	91	  
	 Section 4.11
	 	 Limitation on Affiliate Transactions
	  	 	93	  
	 Section 4.12
	 	 Limitation on Liens
	  	 	96	  
	 Section 4.13
	 	 Corporate Existence
	  	 	97	  
	 Section 4.14
	 	 Change of Control
	  	 	97	  
	 Section 4.15
	 	 Limitation on Issuances of Guarantees of Indebtedness by Restricted Subsidiaries
	  	 	99	  
	 Section 4.16
	 	 Payments for Consents
	  	 	100	  
	 Section 4.17
	 	 Impairment of Liens
	  	 	100	  
	 Section 4.18
	 	 Additional Amounts
	  	 	102	  
	 Section 4.19
	 	 Suspension of Covenants on Achievement of Investment Grade Status
	  	 	105	  
	 Section 4.20
	 	 Further Instruments and Acts
	  	 	105	  
	 Section 4.21
	 	 Listing
	  	 	105	  
	 Section 4.22
	 	 Collateral Sharing Agreement; Additional Collateral Sharing Agreements
	  	 	105	  
	 Section 4.23
	 	 Priority Agreement; Additional Priority Agreements
	  	 	107	  
	 Section 4.24
	 	 Additional Proceeds Loan Guarantees
	  	 	108	  
	 Section 4.25
	 	 Limitation on Layering
	  	 	108	  
	 Section 4.26
	 	 Limitation on Issuer Activities
	  	 	109	  
	 Section 4.27
	 	 Assumption of Note Obligations by the Fold-In Issuer following the Ziggo Group Combination
	  	 	110	  
		
	ARTICLE 5.	  			
	SUCCESSORS	  			
			
	 Section 5.01
	 	 Merger and Consolidation
	  	 	111	  
	 Section 5.02
	 	 Successor Corporation Substituted
	  	 	113	  
		
	ARTICLE 6.	  			
	DEFAULTS AND REMEDIES	  			
	 Section 6.01
	 	 Events of Default
	  	 	113	  
	 Section 6.02
	 	 Acceleration
	  	 	116	  
	 Section 6.03
	 	 Other Remedies
	  	 	117	  
	 Section 6.04
	 	 Waiver of Past Defaults
	  	 	117	  
	 Section 6.05
	 	 Control by Majority
	  	 	117	  
	 Section 6.06
	 	 Limitation on Suits
	  	 	118	  
	 Section 6.07
	 	 Rights of Holders to Receive Payment
	  	 	118	  
	 Section 6.08
	 	 Collection Suit by Trustee
	  	 	118	  
	 Section 6.09
	 	 Trustee May File Proofs of Claim
	  	 	118	  
	 Section 6.10
	 	 Priorities
	  	 	119	  
	 Section 6.11
	 	 Undertaking for Costs
	  	 	119	  
	 Section 6.12
	 	 Restoration of Rights and Remedies
	  	 	119	  
	 Section 6.13
	 	 Rights and Remedies Cumulative
	  	 	119	  
		
	ARTICLE 7.	  			
	TRUSTEE	  			
	 Section 7.01
	 	 Duties of Trustee
	  	 	120	  
	 Section 7.02
	 	 Rights of Trustee
	  	 	121	  
	 Section 7.03
	 	 Individual Rights of Trustee
	  	 	124	  
	 Section 7.04
	 	 Trustee’s Disclaimer
	  	 	124	  
	 Section 7.05
	 	 Notice of Defaults
	  	 	124	  
	 Section 7.06
	 	 [Reserved]
	  	 	124	  
	 Section 7.07
	 	 Compensation and Indemnity
	  	 	124	  
	 Section 7.08
	 	 Replacement of Trustee
	  	 	125	  
	 Section 7.09
	 	 Successor Trustee by Merger, etc.
	  	 	126	  
	 Section 7.10
	 	 Agents; Resignation of Agents
	  	 	126	  
	 Section 7.11
	 	 Eligibility; Disqualification
	  	 	127	  

  
 ii 

							
		
	ARTICLE 8.	  			
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  			
			
	 Section 8.01
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	127	  
	 Section 8.02
	 	 Legal Defeasance and Discharge
	  	 	127	  
	 Section 8.03
	 	 Covenant Defeasance
	  	 	127	  
	 Section 8.04
	 	 Conditions to Legal or Covenant Defeasance
	  	 	128	  
	 Section 8.05
	 	 Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions
	  	 	129	  
	 Section 8.06
	 	 Repayment to Issuer
	  	 	130	  
	 Section 8.07
	 	 Reinstatement
	  	 	130	  
		
	ARTICLE 9.	  			
	AMENDMENT, SUPPLEMENT AND WAIVER	  			
			
	 Section 9.01
	 	 Without Consent of Holders
	  	 	130	  
	 Section 9.02
	 	 With Consent of Holders
	  	 	132	  
	 Section 9.03
	 	 Specified Consents and Amendments
	  	 	134	  
	 Section 9.04
	 	 Revocation and Effect of Consents
	  	 	134	  
	 Section 9.05
	 	 Notation on or Exchange of Notes
	  	 	135	  
	 Section 9.06
	 	 Trustee to Sign Amendments, etc.
	  	 	135	  
		
	ARTICLE 10.	  			
	GUARANTEES	  			
			
	 Section 10.01
	 	 Releases
	  	 	135	  
	 Section 10.02
	 	 Affiliate Proceeds Loan Obligor and Affiliate Subsidiaries
	  	 	136	  
		
	ARTICLE 11.	  			
	SECURITY	  			
			
	 Section 11.01
	 	 Note Security Documents
	  	 	136	  
	 Section 11.02
	 	 Release of Note Collateral
	  	 	137	  
	 Section 11.03
	 	 Release of Proceeds Loan Collateral
	  	 	138	  
	 Section 11.04
	 	 Authorization of Actions to Be Taken by the Security Trustee
	  	 	139	  
	 Section 11.05
	 	 Authorization of Receipt of Funds by the Security Trustee Under the Note Security Documents
	  	 	139	  
	 Section 11.06
	 	 Waiver of subrogation
	  	 	139	  
	 Section 11.07
	 	 Termination of Security Interest
	  	 	139	  
		
	ARTICLE 12.	  			
	SATISFACTION AND DISCHARGE	  			
			
	 Section 12.01
	 	 Satisfaction and Discharge
	  	 	140	  
	 Section 12.02
	 	 Application of Trust Money
	  	 	141	  
		
	ARTICLE 13.	  			
	LIMITED RECOURSE OBLIGATIONS	  			
			
	 Section 13.01
	 	 Limited Recourse Obligations
	  	 	141	  
		
	ARTICLE 14.	  			
	MISCELLANEOUS	  			
			
	 Section 14.01
	 	 Notices
	  	 	142	  
	 Section 14.02
	 	 Communication by Holders with Other Holders
	  	 	143	  
	 Section 14.03
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	143	  
	 Section 14.04
	 	 Statements Required in Certificate or Opinion
	  	 	143	  
	 Section 14.05
	 	 Rules by Trustee and Agents
	  	 	144	  
	 Section 14.06
	 	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	144	  

  
 iii 

							
	 Section 14.07
	 	 Currency Indemnity
	  	 	144	  
	 Section 14.08
	 	 Governing Law
	  	 	144	  
	 Section 14.09
	 	 Submission to Jurisdiction; Appointment of Agent for Service
	  	 	145	  
	 Section 14.10
	 	 No Adverse Interpretation of Other Agreements
	  	 	145	  
	 Section 14.11
	 	 Successors
	  	 	145	  
	 Section 14.12
	 	 Severability
	  	 	145	  
	 Section 14.13
	 	 Counterpart Originals
	  	 	145	  
	 Section 14.14
	 	 Table of Contents, Headings, etc.
	  	 	146	  
	 Section 14.15
	 	 Prescription
	  	 	146	  
	 Section 14.16
	 	 USA PATRIOT Act
	  	 	146	  

 EXHIBITS 

(ATTACHED SEPARATELY HERETO) 
  

			
	Exhibit A	 	FORM OF GLOBAL NOTE
	Exhibit B	 	FORM OF DEFINITIVE REGISTERED NOTE
	Exhibit C	 	FORM OF CERTIFICATE OF TRANSFER
	Exhibit D	 	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit E	 	FORM OF SUPPLEMENTAL INDENTURE
	Exhibit F	 	ACCESSION AGREEMENT
	Exhibit G	 	FORM OF SOLVENCY CERTIFICATE
	Exhibit H	 	FOLD-IN COVENANT SCHEDULE

  
 iv 

 INDENTURE dated as of January 29, 2015 among Ziggo Bond Finance B.V., a private
limited company incorporated under the laws of the Netherlands, having its registered office at Naritaweg 165, Telestone 8, 1043 BW, Amsterdam, The Netherlands, registered with the Dutch Commercial Register under number 61995460, and any successors
thereto (the “Issuer), Deutsche Trustee Company Limited, not in its individual capacity but solely as trustee (the “Trustee”), Deutsche Bank Trust Company Americas, as dollar notes paying agent, registrar and transfer
agent, Deutsche Bank AG, London Branch as euro notes paying agent, Deutsche Bank Luxembourg S.A., as euro notes registrar and transfer agent, and Deutsche Trustee Company Limited as security trustee (the “Security Trustee”).

 The Issuer and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as
defined herein) of the $400,000,000 5.875% Senior Notes due 2025 (the “Dollar Notes”) and the €400,000,000 4.625% Senior Notes due 2025 (the “Euro Notes” and, together with the Dollar Notes, the “Notes”):

 ARTICLE 1.  

DEFINITIONS AND INCORPORATION 
 BY
REFERENCE 
 Section 1.01 Definitions 

“144A Global Note” means a Dollar 144A Global Note or a Euro 144A Global Note. 

“Acquisition” means the acquisition by LGE Holdco VII B.V. of shares in Ziggo N.V. following a recommended public offer
pursuant to a merger protocol agreement dated January 27, 2014. 
 “Acquired Indebtedness” means Indebtedness
(i) of a Person or any of its Subsidiaries existing at the time such Person becomes a Restricted Subsidiary or (ii) assumed in connection with the acquisition of assets from such Person, in each case whether or not Incurred by such Person
in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary or such acquisition. Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (i) of the preceding sentence, on
the date such Person becomes a Restricted Subsidiary and, with respect to clause (ii) of the preceding sentence, on the date of consummation of such acquisition of assets. 

“Additional Assets” means: 
  

	 	(1)	any property or assets (other than Indebtedness and Capital Stock) to be used by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary in a Related Business or are otherwise useful
in a Related Business (it being understood that capital expenditure on property or assets already used in a Related Business or to replace any property or assets that are the subject of such Asset Disposition or any operating expenses Incurred in
the day-to-day operations of a Related Business shall be deemed an Investment in Additional Assets); 

  

	 	(2)	the Capital Stock of a Person that is engaged in a Related Business and becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company, UPC NL Holdco, the Affiliate Proceeds Loan
Obligor or a Restricted Subsidiary; or 

  

	 	(3)	Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary. 

“Additional Issuer Debt” means (i) Public Debt and (ii) other Indebtedness Incurred under Credit Facilities,
in each case Incurred by the Issuer.  

  
 1 

 “Additional Notes” means additional Notes (other than the Initial Notes)
issued under this Indenture in accordance with Sections 2.01(e), 2.02 and 4.09, as part of the same series as the Initial Notes. 

“Affiliate” of any specified Person means any other Person, directly or indirectly, controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Affiliate Subsidiary” refers to any Subsidiary of Liberty Global (other than a Subsidiary of the Company, UPC NL or
the Affiliate Proceeds Loan Obligor) that provides a Proceeds Loan Guarantee following the Issue Date. 

“Agent” means any Registrar, co-registrar, Paying Agent or additional paying
agent. 
 “Applicable Premium” means, in the case of the Euro Notes, the Euro Applicable Premium and, in the
case of the Dollar Notes, the Dollar Applicable Premium. For the avoidance of doubt, calculation of the Applicable Premium shall be made by the Issuer and shall not be a duty or obligation of the Trustee, Security Trustee or any Registrar, Paying
Agent or Transfer Agent. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear or Clearstream that apply to such transfer or exchange. 

“Asset Disposition” means any direct or indirect sale, lease (other than an operating lease entered into in the ordinary
course of business), transfer, issuance or other disposition, or a series of related sales, leases, (other than an operating lease entered into in the ordinary course of business), transfers, issuances or dispositions that are part of a common plan,
of shares of Capital Stock of a Subsidiary (other than directors’ qualifying shares), property or other assets (each referred to for the purposes of this definition as a “disposition”) by the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or any of the Restricted Subsidiaries, including any disposition by means of a merger, consolidation or similar transaction. 

Notwithstanding the preceding, the following items shall not be deemed to be Asset Dispositions: 

 

	 	(1)	a disposition by a Restricted Subsidiary to the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary (other than
a Receivables Entity) to a Restricted Subsidiary; 

  

	 	(2)	the sale or disposition of cash, Cash Equivalents or Investment Grade Securities in the ordinary course of business; 

  

	 	(3)	a disposition of inventory, consumer equipment, trading stock, communications capacity or other assets in the ordinary course of business; 

 

	 	(4)	a sale, lease, transfer or other disposition, or a series of related sales, leases, transfers, issuances or dispositions that are part of a common plan, of obsolete, surplus or worn out equipment or other equipment and
assets that are no longer useful in the conduct of the business of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries; 

  
 2 

	 	(5)	transactions permitted under Section 5.01 or a transaction that constitutes a Change of Control; 

  

	 	(6)	an issuance of Capital Stock by a Restricted Subsidiary to the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or to another Restricted Subsidiary; 

 

	 	(7)	(a) for purposes of Section 4.10 only, the making of a Permitted Investment or a disposition subject to Section 4.07 and (b) solely for the purpose of Section 4.10(b)(3), a disposition, the proceeds
of which are used to make Restricted Payments permitted to be made under Section 4.07 or Permitted Investments; 

  

	 	(8)	dispositions of assets in a single transaction or series of related transactions with an aggregate fair market value in any calendar year of less than the greater of €10.0 million and 1.0% of Total Assets
(with unused amounts in any calendar year being carried over to the next succeeding year subject to a maximum of the greater of €10.0 million and 1.0% of Total Assets of carried over amounts for any calendar year); 

 

	 	(9)	dispositions in connection with Permitted Liens; 

  

	 	(10)	dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar
arrangements; 

  

	 	(11)	the licensing or sublicensing of intellectual property or other general intangibles and licenses, sublicenses, leases or subleases of other property; 

 

	 	(12)	foreclosure, condemnation or similar action with respect to any property or other assets; 

  

	 	(13)	the sale or discount (with or without recourse, and on customary or commercially reasonable terms) of accounts receivable or notes receivable arising in the ordinary course of business, or the conversion or exchange of
accounts receivable for notes receivable; 

  

	 	(14)	sales of accounts receivable and related assets or an interest therein of the type specified in the definition of “Qualified Receivables Transaction” to a Receivables Entity; 

 

	 	(15)	any disposition of Capital Stock, Indebtedness or other securities of an Unrestricted Subsidiary; 

  

	 	(16)	any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a Person (other than the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted
Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such acquisition and in each case
comprising all or a portion of the consideration in respect of such sale or acquisition; 

  

	 	(17)	any surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; 

  

	 	(18)	 (a) disposals of assets, rights or revenue not constituting part of the Distribution Business of the Company, UPC NL Holdco, the Affiliate Proceeds

  
 3 

	 	
Loan Obligor and the Restricted Subsidiaries, and (b) other disposals of non-core assets acquired in connection with any acquisition permitted under this Indenture; 

 

	 	(19)	any disposition of assets or Capital Stock which the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary is required by a regulatory authority or court of competent jurisdiction to
dispose of; 

  

	 	(20)	any dispositions of other interests in other entities in an amount not to exceed €10.0 million; 

  

	 	(21)	any disposition of real property; provided that the fair market value of the real property disposed of in any calendar year does not exceed the greater of €50.0 million and 1.0% of Total Assets;

  

	 	(22)	any disposition of assets to a Person who is providing services related to such assets, the provision of which have been or are to be outsourced by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any
Restricted Subsidiary to such Person; and 

  

	 	(23)	any other disposition of assets comprising in aggregate percentage value of 10% or less of Total Assets. 

In the event that a transaction (or any portion thereof) meets the criteria of a disposition permitted under clauses (1) through
(23) above and would also be a Restricted Payment permitted to be made under Section 4.07 or a Permitted Investment, the Company, in its sole discretion, will be entitled to divide and classify such transaction (or a portion thereof) as a
disposition permitted under clauses (1) through (23) above and/or one or more of the types of Restricted Payments permitted to be made under Section 4.07 or Permitted Investments. 

“Authenticating Agent” means each Person authorized pursuant to Section 2.02 to authenticate Notes and any Person
authorized pursuant to Section 2.02 to act on behalf of the Trustee to authenticate Notes. 
 “Authorized
Person” means any person who is designated by the Issuer to give Instructions to the Trustee or the Agents under the terms of this Indenture pursuant to one or more incumbency certificates (which may be amended or updated from time to time)
delivered to the Trustee containing the specimen signature of such person provided that no Authorized Person shall be entitled to give instructions directly to Deutsche Bank Trustee Company Americas, which shall only receive instructions via the
Trustee or Euro Paying Agent, as applicable.  
 “Bankruptcy Law” means Title 11, United States Bankruptcy
Code of 1978, or any similar United States federal or state law or relevant law in any jurisdiction or organization or similar foreign law (including, without limitation, laws of The Netherlands relating to moratorium, bankruptcy, insolvency,
receivership, winding up, liquidation, reorganization or relief of debtors) or any amendment to, succession to or change in any such law. 

“beneficial owner” has the meaning assigned to such term in Rule 13d-3 and
Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such
“person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “beneficially owns” and “beneficially owned” have a corresponding meaning. 

  
 4 

 “Board of Directors” means, as to any Person, the board of directors of such
Person or any duly authorized committee thereof, or, in the case of the Company, its managing director; provided that (i) if and for so long as the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor is a Subsidiary of Liberty Global,
any action required to be taken under this Indenture by the Board of Directors of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor can, in the alternative, at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan
Obligor, be taken by the Board of Directors of Liberty Global and (ii) following consummation of a Spin-Off, any action required to be taken under this Indenture by the Board of Directors of the Company, UPC NL Holdco or the Affiliate Proceeds
Loan Obligor can, in the alternative, at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, be taken by the Board of Directors of the Spin Parent. 

“Book-Entry Interest” means a beneficial interest in a Global Note held by or through
a Participant. 
 “Bund Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity as of such date of the Comparable German Bund Issue, assuming a price for the Comparable German Bund Issue (expressed as a percentage of its principal amount) equal to the Comparable German Bund Price for
such Redemption Date, where:  
  

	 	(1)	“Comparable German Bund Issue” means the German Bundesanleihe security selected by any Reference German Bund Dealer as having a fixed maturity most nearly equal to the period from such Redemption Date
to January 15, 2020 and that would be utilized at the time of selection and in accordance with customary financial practice, in pricing new issues of euro-denominated corporate debt securities in a principal amount approximately equal to the
then outstanding principal amount of the Notes and of a maturity most nearly equal to January 15, 2020; provided, however, that, if the period from such Redemption Date to January 15, 2020 is not equal to the fixed maturity of the
German Bundesanleihe security selected by such Reference German Bund Dealer, the Bund Rate shall be determined by linear interpolation (calculated to the nearest one-twelfth of a year) from the yields of German Bundesanleihe securities
for which such yields are given, except that if the period from such Redemption Date to January 15, 2020, is less than one year, a fixed maturity of one year shall be used; 

 

	 	(2)	“Comparable German Bund Price” means, with respect to any Redemption Date, the average of all Reference German Bund Dealer Quotations for such date (which, in any event, must include at least two such
quotations), after excluding the highest and lowest such Reference German Bund Dealer Quotations, or if the Company obtains fewer than four such Reference German Bund Dealer Quotations, the average of all such quotations; 

 

	 	(3)	“Reference German Bund Dealer” means any dealer of German Bundesanleihe securities appointed by the Company in good faith; and 

 

	 	(4)	“Reference German Bund Dealer Quotations” means, with respect to each Reference German Bund Dealer and any Redemption Date, the average as determined by the Company in good faith of the bid and offered
prices for the Comparable German Bund Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference German Bund Dealer at 3.30 p.m. Frankfurt am Main, Germany, time on a day no earlier than
the third Business Day preceding the date of the delivery of the redemption notice in respect of such Redemption Date. 

  
 5 

 “Business Day” means each day that is not a Saturday, Sunday or other day
on which banking institutions in The Netherlands, New York, New York, or London, England are authorized or required by law to close. 

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options,
participation or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity. 

“Capitalized Lease Obligation” means an obligation that is required to be classified and accounted for as a
capitalized lease for financial reporting purposes in accordance with GAAP. The amount of Indebtedness represented by such obligation will be the capitalized amount of such obligation at the time any determination thereof is to be made as determined
in accordance with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated without penalty. 

“Cash Equivalents” means: 
  

	 	(1)	securities issued or directly and fully guaranteed or insured by the United States Government or a member state of the European Union as of January 1, 2004 (each a “Qualified Country”) or any agency or
instrumentality thereof (provided that the full faith and credit of such Qualified Country is pledged in support thereof), having maturities of not more than one year from the date of acquisition; 

 

	 	(2)	marketable general obligations issued by any political subdivision of any Qualified Country or any public instrumentality thereof maturing within one year from the date of acquisition of the United States (provided that
the full faith and credit of the Qualified Country is pledged in support thereof) and, at the time of acquisition, having a credit rating of “A2” or better from either Standard & Poor’s Ratings Services or Moody’s
Investors Service, Inc.; 

  

	 	(3)	certificates of deposit, time deposits, eurodollar time deposits, bank deposits or bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any lender party to
any Credit Facility or by any bank or trust company (x) the long-term debt of which is rated at the time of acquisition thereof at least “A-” or the equivalent thereof by Standard & Poor’s Ratings Services, or
“A-” or the equivalent thereof by Moody’s Investors Service, Inc. (or if at the time neither is issuing comparable ratings, then a comparable rating of another nationally recognized rating agency); 

 

	 	(4)	repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (1), (2) and (3) entered into with any bank meeting the qualifications specified in
clause (3) above; 

  

	 	(5)	commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent thereof by Standard & Poor’s Ratings Services or “P-2” or the equivalent thereof by
Moody’s Investors Service, Inc., or carrying an equivalent rating by an internationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of investments, and in any case maturing within one year after
the date of acquisition thereof; and 

  

	 	(6)	interests in any investment company or money market fund which invests 95% or more of its assets in instruments of the type specified in clauses (1) through (5) above. 

  
 6 

 “Change of Control” means: 

 

	 	(1)	Parent Company (a) ceases to be the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the Voting Stock
of each of the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor and (b) ceases, by virtue of any powers conferred by the articles of association or other documents regulating the Company, UPC NL Holdco and the Affiliate Proceeds
Loan Obligor to, directly or indirectly, direct or cause the direction of management and policies of the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor; 

 

	 	(2)	the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) other than a Permitted Holder; 

 

	 	(3)	the adoption by the stockHolders of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor of a plan or proposal for the liquidation or dissolution of the Company, UPC NL Holdco or the Affiliate Proceeds Loan
Obligor, other than a transaction complying with Section 5.01; 

  

	 	(4)	the Issuer ceases to directly or indirectly hold 100% of the Capital Stock of the Senior Secured Notes Issuer; or 

  

	 	(5)	the SPV Parent ceases to directly or indirectly hold 100% of the Capital Stock of the Issuer; 

provided, however, that a Change of Control shall not be deemed to have occurred pursuant to clause (1) of this definition upon
the consummation of the Post-Closing Reorganization or a Spin-Off.  
 “Clearing System Business Day” means a
day on which each of Euroclear, Clearstream and DTC are open for business. 
 “Clearstream” means Clearstream
Banking, S.A., or any successor thereto. 
 “Code” means the United States Internal Revenue Code of 1986, as
amended.  
 “Collateral Sharing Agreement” means the collateral sharing agreement dated the Escrow Release
Date between, among others, the Issuer, the SPV Parent, the Security Trustee and the Trustee, as amended, restated or otherwise modified or varied from time to time. 

“Commodity Agreements” means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract,
commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary. 

“Common Depositary” means Deutsche Bank AG, London Branch, as Common Depositary until a successor replaces it and thereafter
means the successor serving hereunder. 
 “Common Stock” means, with respect to any Person, any and all shares,
interests or other participations in, and other equivalents (however designated and whether voting or nonvoting) of such Person’s common stock whether or not outstanding on the Issue Date, and includes, without limitation, all series and
classes of such common stock. 

  
 7 

 “Company” means Ziggo Bond Company B.V., and any successors thereto.

 “Consolidated EBITDA” means, for any period, operating income (loss) determined on the basis of GAAP of the Company,
UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries on Consolidated basis, plus the following (to the extent deducted from operating income (loss)): 

 

	 	(1)	Consolidated depreciation expense; 

  

	 	(2)	Consolidated amortization expense; 

  

	 	(3)	stock based compensation expense; 

  

	 	(4)	at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, other non-cash charges reducing operating income (provided that if any such non-cash charge represents an accrual of or reserve for
potential cash charges in any future period, the cash payment in respect thereof in such future period shall reduce operating income to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period) less other
non-cash items of income increasing operating income (excluding any such non-cash item of income to the extent it represents (i) a receipt of cash payments in any future period, (ii) the reversal of an accrual or reserve for a potential
cash item that reduced operating income in any prior period and (iii) any non-cash gains with respect to cash actually received in a prior period so long as such cash did not increase operating income in such prior period); 

 

	 	(5)	any extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense or charge, including any charges or reserves in respect of any restructuring, redundancy, relocation, refinancing, integration or
severance or other post-employment arrangements, signing, retention or completion bonuses, transaction costs, acquisition costs, disposition costs, business optimization, information technology implementation or development costs, costs related to
governmental investigations and curtailments or modifications to pension or postretirement benefits schemes, litigation or any asset impairment charges or the financial impacts of natural disasters (including fire, flood and storm and related
events); 

  

	 	(6)	at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, effects of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries) in such
Person’s Consolidated financial statements pursuant to GAAP (including inventory, property, equipment, software, goodwill, intangible assets, in process research and development, deferred revenue and debt line items) attributable to the
application of recapitalization accounting or acquisition accounting, as the case may be, in relation to any consummated acquisition or joint venture investment or the amortization or write-off or write-down of amounts thereof, net of taxes;

  

	 	(7)	any net gain (or loss) realized upon the sale, held for sale or other disposition of any asset or disposed operations of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary which
is not sold or otherwise disposed of in the ordinary course of business (as determined in good faith by the Board of Directors or senior management of the Company); 

  
 8 

	 	(8)	the amount of Management Fees and other fees and related expenses paid in such period to the Permitted Holders to the extent permitted by Section 4.11; 

 

	 	(9)	any reasonable expenses, charges or other costs related to any Equity Offering, Permitted Investment, acquisition, disposition, recapitalization or the Incurrence of any Indebtedness permitted by this Indenture, in each
case, as determined in good faith by an Officer of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor; 

  

	 	(10)	at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, any adjustments to reduce the impact of the cumulative effect of a change in accounting principles and changes as a result of the
adoption or modification of accounting policies; 

  

	 	(11)	the amount of loss on sale of assets in connection with a Qualified Receivables Transaction; 

  

	 	(12)	Specified Legal Expenses; 

  

	 	(13)	at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, an amount equal to 100% of the up-front installation fees associated with commercial contract installations completed during the
applicable reporting period, less any portion of such fees included in Consolidated Net Income for such period, provided that the amount of such fees, to the extent amortized over the life of the underlying service contract, shall not be included in
Consolidated Net Income in any future period; and 

  

	 	(14)	at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, any fees or other amounts charged or credited to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted
Subsidiary related to Intra-Group Services may be excluded from the calculation of Consolidated EBITDA to the extent such fees or other amounts (a) are not included in the externally reported operating cash flow or equivalent measure of the
Reporting Entity (as defined in any earnings releases and other publicly disseminated information relating to the Reporting Entity) or (b) are deemed to be exceptional or unusual items. 

“Consolidated Net Income” means, for any period, the net income (loss) determined on the basis of GAAP of the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries on a Consolidated basis; provided, however, that there will not be included in such Consolidated Net Income: 

 

	 	(1)	subject to the limitations contained in clause (2) below, any net income (loss) of any Person (other than the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor) if such Person is not a Restricted
Subsidiary, except that (a) the Company’s, UPC NL Holdco’s or the Affiliate Proceeds Loan Obligor’s equity in the net income (loss) of any such Person for such period will be included in such Consolidated Net Income up to the
aggregate amount of cash or Cash Equivalents actually distributed by such Person during such period to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary as a dividend or other distribution or return on
investment (subject, in the case of a dividend or other distribution or return on investment to a Restricted Subsidiary, to the limitations contained in clause (2) below) and (b) the Company’s, UPC NL Holdco’s or the
Affiliate Proceeds Loan Obligor’s equity in a net loss of any such Person (other than an Unrestricted Subsidiary) for such period will be included in determining such Consolidated Net Income to the extent such loss has been funded with cash
from the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary; 

  
 9 

	 	(2)	any net income (loss) of any Restricted Subsidiary if such Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary,
directly or indirectly, to the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor by operation of the terms of such Restricted Subsidiary’s charter or any agreement, instrument, judgment, decree, order, statute or governmental rule
or regulation applicable to such Restricted Subsidiary or its shareholders (other than (a) restrictions that have been waived or otherwise released, (b) restrictions pursuant to the Notes or this Indenture, (c) restrictions in effect
on the Issue Date with respect to a Restricted Subsidiary (including pursuant to this Indenture, the Covenant Agreement, the Proceeds Loan, the Senior Facility Agreement, the Proceeds Loan Collateral Documents or the Priority Agreement) and other
restrictions with respect to any Restricted Subsidiary that, taken as a whole, are not materially less favorable to the Holders than restrictions in effect on the Issue Date and (d) restrictions as in effect on the Issue Date specified in
Section 4.08(b)(8), or restrictions specified in Section 4.08(b)(10), except that the net income (loss) of any such Restricted Subsidiary for such period will be included in such Consolidated Net Income up to the aggregate amount of cash
or Cash Equivalents actually distributed or that could have been distributed by such Restricted Subsidiary during such period to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or another Restricted Subsidiary as a dividend or other
distribution (subject, in the case of a dividend to another Restricted Subsidiary, to the limitation contained in this clause); 

  

	 	(3)	any net gain (or loss) realized upon the sale, held for sale or other disposition of any asset or disposed operations of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary which
is not sold or otherwise disposed of in the ordinary course of business (as determined in good faith by the Board of Directors or senior management of the Company); 

 

	 	(4)	any extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense or charge, including any charges or reserves in
respect of any restructuring, redundancy, relocation, refinancing, integration or severance or other post-employment arrangements, signing, retention or completion bonuses, transaction costs, acquisition
costs, disposition costs, business optimization, information technology implementation or development costs, costs related to governmental investigations and curtailments or modifications to pension or postretirement benefits schemes, litigation or
any asset impairment charges or the financial impacts of natural disasters (including fire, flood and storm and related events); 

  

	 	(5)	the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies; 

 

	 	(6)	any stock-based compensation expense; 

  

	 	(7)	all deferred financing costs written off and premiums paid in connection with any early extinguishment of Indebtedness and any net gain (loss), including financing costs that are expensed as incurred, from any
extinguishment, modification, exchange or forgiveness of Indebtedness; 

  

	 	(8)	any unrealized gains or losses in respect of Hedging Obligations; 

  
 10 

	 	(9)	any goodwill, other intangible or tangible asset impairment charge or write-off; 

  

	 	(10)	the impact of capitalized interest on Subordinated Shareholder Loans; 

  

	 	(11)	any derivative instruments gains or losses, foreign exchange gains or losses, and gains or losses associated with fair value adjustment on financial instruments; 

 

	 	(12)	at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, effects of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries) pursuant
to GAAP (including inventory, property, equipment, software, goodwill, intangible assets, in process research and development, deferred revenue and debt line items) attributable to the application of recapitalization accounting or purchase
accounting, as the case may be, in relation to any consummated acquisition or joint venture investment or the amortization or write-off or write-down of amounts thereof,
net of taxes; 

  

	 	(13)	accruals and reserves that are established or adjusted within twelve months after the closing date of any acquisition that are so required to be established or adjusted as a result of such acquisition that are so
required to be established as a result of such acquisition in accordance with GAAP; and 

  

	 	(14)	any expenses, charges or losses to the extent covered by insurance or indemnity and actually reimbursed, or, so long as the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary has made
a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer or indemnifying party and only to the extent that such amount is in fact reimbursed within 365 days of the date of the insurable or
indemnifiable event (net of any amount so added back in any prior period to the extent not so reimbursed within the applicable 365-day period). 

In addition, to the extent not already included in the Consolidated Net Income, notwithstanding anything to the contrary in the foregoing,
Consolidated Net Income shall include the amount of proceeds received from business interruption insurance and reimbursements of any expenses and charges that are covered by indemnification or other reimbursement provisions in connection with any
acquisition, Investment or any sale, conveyance, transfer or other disposition of assets permitted under this Indenture. 

“Consolidated Net Leverage Ratio”, as of any date of determination, means the ratio of: 

 

	 	(1)	 (a) the outstanding Indebtedness (other than (i) Subordinated Shareholder Loans, (ii) Indebtedness up to a maximum amount equal to the
Revolving Facility Excluded Amount (or its equivalent in other currencies) at the relevant time incurred under any Permitted Revolving Credit Facility, (iii) any Indebtedness which is a contingent obligation of the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or a Restricted Subsidiary, provided that for purposes of calculating the Consolidated Net Leverage Ratio for purposes of Section 4.09(c)(13) and Section 4.07(c)(20), any guarantee by the Company, UPC NL Holdco,
the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary of Indebtedness of a Parent shall be included in determining any such outstanding Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted
Subsidiaries, (iv) any Indebtedness incurred pursuant to Section 4.09(c)(17) and (v) for the purpose of calculating the Consolidated Net Leverage Ratio for purposes of

  
 11 

	 	
Section 4.09(b)(1)(a), outstanding Indebtedness of the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor) of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor
and the Restricted Subsidiaries on a Consolidated basis, less (b) the aggregate amount of cash and Cash Equivalents of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries on a Consolidated basis, to

  

	 	(2)	the Pro forma EBITDA for the period of the most recent two consecutive fiscal quarters for which financial statements of the Reporting Entity have previously been furnished to Holders pursuant to Section 4.03,
multiplied by 2.0; 

 provided, however, that the pro forma calculation of the Consolidated Net Leverage Ratio shall
not give effect to (a) any Indebtedness Incurred on the date of determination pursuant to Section 4.09(c) or (b) the discharge on the date of determination of any Indebtedness to the extent that such discharge results from the
proceeds Incurred pursuant to Section 4.09(c). 
 For the avoidance of doubt, in determining the Consolidated Net Leverage Ratio, no
cash or Cash Equivalents shall be included that are the proceeds of Indebtedness in respect of which the calculation of the Consolidated Net Leverage Ratio is to be made. 

“Consolidation” means the consolidation or combination of the accounts of each of the Restricted Subsidiaries with those of
the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor in accordance with GAAP consistently applied; provided, however, that “Consolidation” will not include consolidation or combination of the accounts of any
Unrestricted Subsidiary, but the interest of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in an Unrestricted Subsidiary will be accounted for as an investment. The term “Consolidated” has a
correlative meaning. 
 “Content” means any rights to broadcast, transmit, distribute or otherwise make available for
viewing, exhibition or reception (whether in analogue or digital format and whether as a channel or an internet service, a teletext- type service, an interactive service, or an enhanced television service or any part of any of the foregoing, or on a
pay-per-view basis, or near video-on-demand, or video-on-demand basis or otherwise) any one or more of audio and/or visual images, audio content, or interactive content (including hyperlinks, re-purposed web-site content, database content plus
associated templates, formatting information and other data including any interactive applications or functionality), text, data, graphics, or other content, by means of any means of distribution, transmission or delivery system or technology
(whether now known or herein after invented). 
 “Covenant Agreement” means the covenant agreement dated the Issue Date,
between, among others, the Issuer, the Proceeds Loan Obligors and the Trustee pursuant to which the Proceeds Loan Obligors agree to be bound by the covenants in this Indenture applicable to them. 

“Corporate Trust Office of the Trustee” will be at the address of the Trustee specified in Section 13.01 or such
other address as to which the Trustee may give notice to the Issuer. 
 “Credit Facility” means, one or more debt
facilities or arrangements (including, without limitation, the facilities made available under the Senior Facility Agreement) or commercial paper facilities with banks or other institutions or investors providing for revolving credit loans, term
loans, receivables financing (including through the sale of receivables to such institutions or to special purpose entities formed to borrow from such institutions against such receivables), letters of credit or other Indebtedness, in each case, as
amended, restated, modified, renewed, refunded, replaced, restructured, refinanced, repaid, increased or extended in whole or in part from time to time (and whether in whole or in part and whether or not with the original administrative agent and
lenders or another administrative 

  
 12 

 
agent or agents or other banks or institutions or investors and whether provided under the Senior Facility Agreement or one or more other credit or other agreements, indentures, financing
agreements or otherwise) and in each case including all agreements, instruments and documents executed and delivered pursuant to or in connection with the foregoing (including but not limited to any notes and letters of credit issued pursuant
thereto and any guarantee and collateral agreement, patent and trademark security agreement, mortgages or letter of credit applications and other guarantees, pledges, agreements, security agreements and collateral documents). Without limiting the
generality of the foregoing, the term “Credit Facility” shall include any agreement or instrument (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding additional borrowers or
guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof. 

“Credit Facility Assumption” means (i) the assumption by, or assignment or other transfer to, any Restricted Subsidiary
of any obligations under Credit Facilities incurred by the Senior Secured Notes Issuer and its Subsidiaries and/or (ii) the acquisition or other transfer of the Senior Secured Notes Issuer and its Subsidiaries, together with any outstanding
obligations under Credit Facilities incurred by the Senior Secured Notes Issuer and its Subsidiaries, by any Restricted Subsidiary, in each case, pursuant to the Ziggo Group Combination. 

“Currency Agreement” means, in respect of a Person, any foreign exchange contract, currency swap agreement, futures
contract, option contract, derivative or other similar agreement as to which such Person is a party or a beneficiary. 

“Custodian” means Deutsche Bank Trust Company Americas, as custodian with respect to the Dollar Notes in global form,
or any successor thereto. 
 “Default” means any event which is, or after notice or passage of time or both
would be, an Event of Default; provided that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed to be cured if such previous Default is
cured prior to becoming an Event of Default. 
 “Definitive Registered Note” means a certificated Note
registered in the name of the Holder thereof and issued in accordance with Section 2.07, substantially in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of
Exchanges of Interests in the Global Note” attached thereto. 
 “Depositary” means, with respect to the Dollar
Notes issuable or issued in whole or in part in global form, DTC, including any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision(s) of this Indenture. 

“Designated Non-Cash Consideration” means the fair market value (as determined in good faith by the Board of Directors or
senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor) of non-cash consideration received by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary in connection with an Asset
Disposition that is so designated as Designated Non-Cash Consideration pursuant to an Officers’ Certificate, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent
payment, redemption, retirement, sale or other disposition of such Designated Non-Cash Consideration. A particular item of Designated Non-Cash Consideration will no longer be considered to be outstanding when and to the extent it has been paid,
redeemed or otherwise retired or sold or otherwise disposed of in compliance with Section 4.10. 

  
 13 

 “Dollar Proceeds Loans” means one or more proceeds loans made by the Issuer to
the Proceeds Loan Borrowers on or about the Escrow Release Date with the proceeds from the Dollar Notes pursuant to the Proceeds Loan Agreement. 

“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which by its terms (or by the
terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event: 
  

	 	(1)	matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise; 

  

	 	(2)	is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock which is convertible or exchangeable solely at the option of the Company, UPC NL Holdco or the Affiliate Proceeds Loan
Obligor or a Restricted Subsidiary); or 

  

	 	(3)	is redeemable at the option of the Holder of the Capital Stock in whole or in part, 

 in each case on or prior
to the earlier of the date (a) of the Stated Maturity of the Notes or (b) on which there are no Notes outstanding, provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or
exchangeable or is so redeemable at the option of the Holder thereof prior to such date will be deemed to be Disqualified Stock; provided, further that any Capital Stock that would constitute Disqualified Stock solely because the Holders
thereof have the right to require the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor to repurchase such Capital Stock upon the occurrence of a change of control or asset sale (each defined in a substantially identical manner to the
corresponding definitions in this Indenture) shall not constitute Disqualified Stock if the terms of such Capital Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) provide that the Company, UPC
NL Holdco and the Affiliate Proceeds Loan Obligor may not repurchase or redeem any such Capital Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) pursuant to such provision prior to compliance by
the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor with the provisions of Section 3.11 and Section 4.10 and Section 4.14 and such repurchase or redemption complies with Section 4.07. 

“Distribution Business” means: (1) the business of upgrading, constructing, creating, developing, acquiring,
operating, owning, leasing and maintaining cable television networks (including for avoidance of doubt master antenna television, satellite master antenna television, single and multi channel microwave single or multi point distribution systems and
direct-to-home satellite systems) for the transmission, reception and/or delivery of multi channel television and radio programming, telephony and internet and/or data services to the residential markets; or (2) any business which is incidental
to or related to such business.  
 “dollar” or “$” means the lawful currency of the United States
of America. 
 “Dollar 144A Global Note” means a Global Note substantially in the form of Exhibit A
bearing the Global Note Legend and the Private Placement Legend and deposited with the Custodian and registered in the name of the Depositary or its nominee issued in a denomination equal to the outstanding principal amount of the Dollar Notes
initially sold in reliance on Rule 144A. 
 “Dollar Applicable Premium” means with respect to a Dollar Note at any
Redemption Date prior to January 15, 2020, the excess of (1) the present value at such Redemption Date of (a) the redemption price of such Dollar Note on January 15, 2020 (such redemption price being described under
Section 3.07(c) exclusive of any accrued and unpaid interest) plus (b) 

  
 14 

 
all required remaining scheduled interest payments due on such Dollar Note through January 15, 2020 (but excluding accrued and unpaid interest to the Redemption Date), computed using a
discount rate equal to the Treasury Rate plus 50 basis points over (2) the principal amount of such Dollar Note on such Redemption Date. 

“Dollar Book-Entry Interest” means a beneficial interest in a Dollar Global Note held by or through a Participant.

 “Dollar Definitive Registered Note” means a Definitive Registered Note bearing the Private Placement Legend
in a minimum principal amount at maturity of $200,000 and integral multiples of $1,000 above $200,000. 
 “Dollar
Global Note” means a Dollar 144A Global Note or a Dollar Regulation S Global Note. 
 “Dollar Global Note
Legend” means the legend set forth in Section 2.07(j)(3), which is required to be placed on all Dollar Global Notes issued under this Indenture. 

“Dollar Regulation S Global Note” means a Global Note, substantially in the form of Exhibit A hereto bearing
the Global Note Legend and the Private Placement Legend and deposited with the Custodian and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Dollar Notes initially
sold in reliance on Rule 903 of Regulation S. 
 “DTC” means The Depository Trust Company, a limited-purpose
trust company under New York law, or any successor thereto. 
 “Electronic Means” means the following
communications methods: S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunication) messaging, email, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys
issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder. 

“Enforcement Sale” means (1) any sale or disposition (including by way of public auction) of the Proceeds Loan
Collateral pursuant to an enforcement action taken by the Security Agent in accordance with the provisions of the Priority Agreement to the extent such sale or disposition is effected in compliance with the provisions of the Priority Agreement, or
(2) any sale or disposition of the Proceeds Loan Collateral pursuant to the enforcement of security in favor of other Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Restricted Subsidiaries which complies
with the terms of an Additional Priority Agreement (or if there is no such priority agreement, would substantially comply with the requirements of clause (1) hereof). 

“Equity Offering” means (1) the distribution of Capital Stock of the Spin Parent in connection with any Spin-Off, or
(2) a sale of (a) Capital Stock of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor (other than Disqualified Stock), or (b) Capital Stock the proceeds of which are contributed as equity share capital to the Company,
UPC NL Holdco or the Affiliate Proceeds Loan Obligor or as Subordinated Shareholder Loans, or (c) Subordinated Shareholder Loans. 

“Escrow Accounts” means, collectively, one or more segregated escrow accounts into which the net proceeds of the
offering of the Initial Notes will be deposited on the date hereof. 
 “Escrow Agent” means Deutsche Bank AG,
London Branch, in its capacity as escrow agent under the Escrow Deed. 

  
 15 

 “Escrow Deed” means the senior notes escrow deed entered into on or about
the date hereof, between, among others, the Issuer, the Trustee and the Escrow Agent in connection with the funding of the proceeds of the Initial Notes into segregated escrow accounts. 

“Escrowed Proceeds” means the proceeds from the offering of any debt securities or other Indebtedness paid into escrow
accounts with an independent escrow agent on the date of the applicable offering or incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such escrow accounts upon satisfaction of certain conditions or the
occurrence of certain events. The term “Escrowed Proceeds” shall include any interest earned on the amounts held in escrow.  

“Escrow Property” means the proceeds of the Initial Notes initially credited to the Escrow Accounts and all funds now
or hereafter credited to the Escrow Accounts plus all interest, cash dividends and other cash distributions and payments on any of the foregoing, if any, received or receivable by the Escrow Agent and credited to the Escrow Account, less any
property and/or funds distributed or paid in accordance with the Escrow Deed, together with all proceeds of any of the foregoing. 

“Escrow Release” means the release of the Escrowed Property from the Escrow Accounts. 

“Escrow Release Date” means the date on which the Escrowed Property is released from the Escrow Accounts, in
accordance with the terms of the Escrow Deed. 
 “euro” or “€” means the currency introduced
at the start of the third stage of the European economic and monetary union pursuant to the Treaty establishing the European Community, as amended by the Treaty on European Union. 

“Euro 144A Global Note” means a Global Note substantially in the form of Exhibit A bearing the Global Note
Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Common Depositary or its nominee issued in a denomination equal to the outstanding principal amount of the Euro Notes initially sold in
reliance on Rule 144A. 
 “Euro Applicable Premium” means with respect to a Euro Note at any Redemption Date
prior to January 15, 2020, the excess of (1) the present value at such Redemption Date of (a) the redemption price of such Euro Note on January 15, 2020 (such redemption price being described under Section 3.07(c) exclusive
of any accrued and unpaid interest) plus (b) all required remaining scheduled interest payments due on such Euro Note through January 15, 2020 (but excluding accrued and unpaid interest to the Redemption Date), computed using a discount
rate equal to the Bund Rate plus 50 basis points over (2) the principal amount of such Euro Note on such Redemption Date. 

“Euro Book-Entry Interest” means a beneficial interest in a Euro Global Note held by or through a Participant. 

“Euro Definitive Registered Note” means a Definitive Registered Note bearing the Private Placement Legend in a
principal amount of €100,000 and integral multiples of €1,000 above €100,000. 
 “Euro
Equivalent” means, with respect to any monetary amount in a currency other than euro, at any time of determination thereof by the Company, the amount of euro obtained by converting such currency other than euro involved in such computation
into euro at the spot rate for the purchase of euro with the applicable currency other than euro as published in The Financial Times in the “Currency Rates” section (or, if The Financial Times is no longer published, or if such information
is no longer available in The Financial Times, such source as may be selected in good faith by the Board of Directors or senior management of the Company) on the date of such determination. 

  
 16 

 “Euro Global Note” means a Euro 144A Global Note or a Euro Regulation S Global
Notes. 
 “Euro Global Note Legend” means the legend set forth in Section 2.07(j)(2), which is required to be
placed on all Euro Global Notes issued under this Indenture. 
 “Euro MTF” means the Euro MTF, the alternative
market of the Luxembourg Stock Exchange. 
 “Euro Proceeds Loans” means one or more proceeds loans made by the
Issuer to the Proceeds Loan Borrowers on or about the Escrow Release Date with the proceeds from the Euro Notes pursuant to the Proceeds Loan Agreement. 

“Euro Regulation S Global Note” means a Global Note, substantially in the form of Exhibit A hereto bearing the
Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Common Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Euro Notes initially
sold in reliance on Rule 903 of Regulation S. 
 “Euroclear” means Euroclear Bank, S.A./N.V., as operator
of the Euroclear system. 
 “European Government Obligations” means any security that is (1) a direct
obligation of Ireland, Belgium, the Netherlands, France, The Federal Republic of Germany or any other country that is a member of the European Monetary Union on the Issue Date, for the payment of which the full faith and credit of such country is
pledged or (2) an obligation of a person controlled or supervised by and acting as an agency or instrumentality of any such country the payment of which is unconditionally guaranteed as a full faith and credit obligation by such country, which,
in either case under the preceding clause (1) or (2), is not callable or redeemable at the option of the issuer thereof. 

“European Union” means the European Union, including member states as of May 1, 2004 but excluding any country which
became or becomes a member of the European Union after May 1, 2004. 
 “Euro-zone” means the region comprised of
member states of the European Union that adopt the euro. 
 “Exchange Act” means the United States Securities Exchange Act
of 1934, as amended. 
 “Excluded Contribution” means Net Cash Proceeds or property or assets received by the Company, UPC
NL Holdco or the Affiliate Proceeds Loan Obligor as capital contributions or Subordinated Shareholder Loans to the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor after May 7, 2010 or from the issuance or sale (other than to a
Restricted Subsidiary) of Capital Stock (other than Disqualified Stock) of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, in each case to the extent designated as an Excluded Contribution pursuant to an Officers’ Certificate
of the Company. 
 “Existing Senior Notes” means Ziggo Bond Company B.V.’s €743,128,000 aggregate principal
amount of 7.125% Senior Notes due 2024. 
 “Existing Senior Secured Notes” means the €750 million 3 5⁄8% Senior Secured Notes due 2020 issued by Ziggo B.V. outstanding on the Issue Date. 

  
 17 

 “Expenses Agreement” means the expenses agreement dated on or about the Issue
Date between, among others, the Issuer, the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor pursuant to which the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor will agree to pay certain obligations of the Issuer,
including without limitation, in respect of maintenance of the Issuer’s existence, the payment of certain tax liabilities of the Issuer, the payment of Additional Amounts (as defined below) pursuant to this Indenture following certain tax
events and the payment of additional interest required to be paid under the Notes on overdue principal and interest. 
 “fair
market value” unless otherwise specified, wherever such term is used in this Indenture (except as otherwise specifically provided in this Indenture), may be conclusively established by means of an Officers’ Certificate or a resolution
of the Board of Directors of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor setting out such fair market value as determined by such Officer or such Board of Directors in good faith. 

“Fold-In Issuer” means any of the Proceeds Loan Obligors (or their successors) following the Ziggo Group Combination. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect as of the Issue Date or,
for purposes of Section 4.03, as in effect from time to time; provided that at any date after the Issue Date the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Issuer may make an irrevocable election to establish that
“GAAP” shall mean GAAP as in effect on a date that is on or prior to the date of such election. Except as otherwise expressly provided below or in this Indenture, all ratios and calculations based on GAAP contained in this Indenture shall
be computed in conformity with GAAP. At any time after the Issue Date, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Issuer may elect to apply for all purposes of this Indenture, in lieu of GAAP, IFRS and, upon such
election, references to GAAP herein will be construed to mean IFRS as in effect on the Issue Date; provided that (1) all financial statements and reports to be provided, after such election, pursuant to this Indenture shall be prepared on the
basis of IFRS as in effect from time to time (including that, upon first reporting its fiscal year results under IFRS, the financial statements of the Reporting Entity (but not the financial statements of the Issuer) shall be restated on the basis
of IFRS for the year ending immediately prior to the first fiscal year for which financial statements have been prepared on the basis of IFRS), and (2) from and after such election, all ratios, computations and other determinations based on
GAAP contained in this Indenture shall, at the option of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Issuer, (a) continue to be computed in conformity with GAAP (provided that, following such election, the annual and
quarterly information required by clauses (1) and (2) of the first paragraph of Section 4.03 shall include a reconciliation, either in the footnotes thereto or in a separate report delivered therewith, of such GAAP presentation to the
corresponding IFRS presentation of such financial information), or (b) be computed in conformity with IFRS with retroactive effect being given thereto assuming that such election had been made on the Issue Date. Thereafter, the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor or the Issuer may, at its option, elect to apply GAAP or IFRS and compute all ratios, computations and other determinations based on GAAP or IFRS, as applicable, all on the basis of the foregoing
provisions of this definition of GAAP. 
 “Global Note Legend” means the Euro Global Note Legend or the Dollar Global Note
Legend, as applicable. 
 “Global Notes” means, individually and collectively, each of the Restricted Global Notes
and the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depositary or the nominee of the Common Depositary, substantially in the form of Exhibit A hereto and that bears the Global Note Legend
and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 2.01, 2.07(c), 2.07(d), 2.07(f) or 2.07(h). 

  
 18 

 “guarantee” means any obligation, contingent or otherwise, of any Person
directly or indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 
  

	 	(1)	to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase
assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise); or 

  

	 	(2)	entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided,
however, that the term “guarantee” will not include endorsements for collection or deposit in the ordinary course of business. The term “guarantee” used as a verb has a corresponding meaning. 

“guarantor” means the obligor under a guarantee. 

“Hedging Obligations” of any Person means the obligations of such Person pursuant to any Interest Rate Agreement,
Commodity Agreement or Currency Agreement.  
 “Holder” means a Person in whose name a Note is registered on the
Registrar’s books. 
 “Holding Company” means, in relation to a Person, an entity of which that Person is a
Subsidiary. 
 “IFRS” means the accounting standards issued by the International Accounting Standards Board and its
predecessors. 
 “Incur” means issue, create, assume, guarantee, incur or otherwise become liable for; provided,
however, that any Indebtedness or Capital Stock of a Person existing at the time such person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) will be deemed to be Incurred by such Restricted Subsidiary
at the time it becomes a Restricted Subsidiary; and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing. 

“Indebtedness” means, with respect to any Person on any date of determination (without duplication): 

 

	 	(1)	money borrowed or raised and debit balances at banks; 

  

	 	(2)	any bond, note, loan stock, debenture or similar debt instrument; 

  

	 	(3)	acceptance or documentary credit facilities; 

  

	 	(4)	receivables sold or discounted (otherwise than on a non-recourse basis and other than in the normal course of business for collections); 

 

	 	(5)	any other transaction (including without limitation forward sale or purchase agreements) having the commercial effect of a borrowing or raising of money or any of (2) to (4) above; 

 

	 	(6)	the principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any Restricted Subsidiary,
any Preferred Stock (but excluding, in each case, any accrued dividends); and 

  

	 	(7)	the principal component of Indebtedness of other Persons to the extent guaranteed by such Person to the extent not otherwise included in the Indebtedness of such Person, 

  
 19 

 provided that Indebtedness which has been cash collateralized shall not be included in any calculation of
Indebtedness to the extent so cash collateralized. 
 Notwithstanding the foregoing, “Indebtedness” shall not include (a) any
deposits or prepayments received by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary from a customer or subscriber for its service, (b) any obligations to make payments in relation to earn outs,
(c) Indebtedness which is in the nature of equity (other than redeemable shares), (d) Capitalized Lease Obligations, (e) any indebtedness in respect of Qualified Receivables Transactions, (f) pension obligations (g) any
“parallel debt” obligations to the extent such obligations mirror other Indebtedness and (h) any payments for assets acquired or services supplied deferred (including Trade Payables) in accordance with the terms pursuant to which the
relevant assets were or are to be acquired or services were or are to be supplied. The amount of Indebtedness of any Person at any date will be the outstanding balance at such date of all unconditional obligations as described above and the maximum
liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date. 

“Indenture” means this Indenture, as amended or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm of nationally recognized standing
that is, in the good faith judgment of the Board of Directors or senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, qualified to perform the task for which it has been engaged. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 

“Initial Notes” means the $400,000,000 aggregate principal amount of Dollar Notes and €400,000,000 aggregate principal amount
of the Euro Notes issued under this Indenture on the Issue Date. 
 “Initial Public Offering” means an Equity Offering of
common stock or other common equity interests of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor, the Spin Parent or any direct or indirect parent company of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor (the
“IPO Entity”) following which there is a Public Market and, as a result of which, the shares of the common stock or other common equity interests of the IPO Entity in such offering are listed on an internationally recognized exchange or
traded on an internationally recognized market. 
 “Instructions” means Written Instructions. 

“Interest Payment Date” has the meaning given to it in the Notes. 

“Interest Rate Agreement” means, with respect to any Person, any interest rate protection agreement, interest rate future
agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a
beneficiary. 

  
 20 

 “Intra-Group Services” means any of the following (provided that the terms of
each such transaction are not materially less favorable, taken as a whole, to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable
transaction in arm’s length dealings with a Person that is not an Affiliate): 
  

	 	(1)	the sale of programming or other content by Liberty Global, the Spin Parent or any of their respective Subsidiaries to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary;

  

	 	(2)	the lease or sublease of office space, other premises or equipment by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Restricted Subsidiaries to Liberty Global, the Spin Parent or any of their
Subsidiaries or by Liberty Global, the Spin Parent or any of their Subsidiaries to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Restricted Subsidiaries; 

 

	 	(3)	the provision or receipt of other goods, services, facilities or other arrangements (in each case not constituting Indebtedness) in the ordinary course of business, by the Company, UPC NL Holdco, the Affiliate Proceeds
Loan Obligor or the Restricted Subsidiaries to or from Liberty Global, the Spin Parent or any of their Subsidiaries, including, without limitation, (a) the employment of personnel, (b) provision of employee healthcare or other benefits,
(c) acting as agent to buy or develop equipment, other assets or services or to trade with residential or business customers, and (d) the provision of treasury, audit, accounting, banking, strategy, branding, marketing, network,
technology, research and development, telephony, office, administrative, compliance, payroll or other similar services; and 

  

	 	(4)	the extension, in the ordinary course of business and on terms not materially less favorable to the Company or the Restricted Subsidiaries than arm’s length terms, by or to the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or the Restricted Subsidiaries to or by Liberty Global or any of their Subsidiaries of trade credit not constituting Indebtedness in relation to the provision or receipt of Intra-Group Services referred to in paragraphs (1),
(2) or (3) of this definition of Intra-Group Services. 

 “Investment” means, with respect to any
Person, all investments by such Person in other Persons (including Affiliates) in the form of any direct or indirect advance, loan (other than advances or extensions of credit to customers in the ordinary course of business) or other extensions of
credit (including by way of guarantee or similar arrangement, but excluding any debt or extension of credit represented by a bank deposit other than a time deposit) or capital contribution to (by means of any transfer of cash or other property to
others or any payment for property or services for the account or use of others), or any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by, such Person and all other items that are or would be classified
as investments on a balance sheet prepared in accordance with GAAP; provided that none of the following will be deemed to be an Investment: 
  

	 	(1)	Hedging Obligations entered into in the ordinary course of business and in compliance with this Indenture; 

  

	 	(2)	endorsements of negotiable instruments and documents in the ordinary course of business; and 

  

	 	(3)	an acquisition of assets, Capital Stock or other securities by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Subsidiary for consideration to the extent such consideration consists of Common Stock
of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor. 

 For purposes of the definition of “Unrestricted
Subsidiary” and Section 4.07, 
  

	 	(a)	 “Investment” will include the portion (proportionate to the Company’s, UPC NL Holdco’s or the Affiliate Proceeds Loan
Obligor’s equity 

  
 21 

	 	
interest in a Restricted Subsidiary to be designated as an Unrestricted Subsidiary) of the fair market value of the net assets of such Restricted Subsidiary of the Company, UPC NL Holdco and the
Affiliate Proceeds Loan Obligor at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company, UPC NL Holdco or the
Affiliate Proceeds Loan Obligor will be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (i) the Company’s, UPC NL Holdco’s or the Affiliate Proceeds Loan
Obligor’s “Investment” in such Subsidiary at the time of such redesignation less (ii) the portion (proportionate to the Company’s, UPC NL Holdco’s or the Affiliate Proceeds Loan Obligor’s equity interest in such
Subsidiary) of the fair market value of the net assets (as conclusively determined by the Board of Directors or senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor in good faith) of such Subsidiary at the time that
such Subsidiary is so redesignated a Restricted Subsidiary; and 

  

	 	(b)	any property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Board of Directors or senior
management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor. 

 If the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or a Restricted Subsidiary transfers, conveys, sells, leases or otherwise disposes of Voting Stock of a Restricted Subsidiary such that such Subsidiary is no longer a Restricted Subsidiary, then the Investment of the
Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor in such Person shall be deemed to have been made as of the date of such transfer or other disposition in an amount equal to the fair market value (as determined in good faith by the Board
of Directors or senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor). 
 “Investment Grade
Securities” means: 
  

	 	(1)	securities issued by the U.S. government or by any agency or instrumentality thereof (other than Cash Equivalents) or directly and fully guaranteed or insured by the U.S. government and in each case with maturities not
exceeding two years from the date of the acquisition; 

  

	 	(2)	securities issued by or a member of the European Union as of January 1, 2004, or any agency or instrumentality thereof (other than Cash Equivalents) or directly and fully guaranteed or insured by a member of the
European Union as of January 1, 2004, and in each case with maturities not exceeding two years from the date of the acquisition; 

  

	 	(3)	debt securities or debt instruments with a rating of A or higher by Standard & Poor’s Ratings Services or A-2 or higher by Moody’s Investors Service, Inc. or the equivalent of such rating by such
rating organization, or if no rating of Standard & Poor’s Ratings Services or Moody’s Investors Service, Inc. then exists, the equivalent of such rating by any other nationally recognized securities ratings agency, by excluding
any debt securities or instruments constituting loans or advances among the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their Subsidiaries; 

  
 22 

	 	(4)	investments in any fund that invests exclusively in investments of the type described in clauses (1) through (3) which fund may also hold immaterial amounts of cash and Cash Equivalents pending investment
and/or distribution; and 

  

	 	(5)	corresponding instruments in countries other than those identified in clauses (1) and (2) above customarily utilized for high quality investments and, in each case, with maturities not exceeding two years from
the date of the acquisition. 

 “Investment Grade Status” shall occur when the Notes receive both of the
following: 
  

	 	(1)	a rating of “Baa3” (or the equivalent) or higher from Moody’s Investors Service, Inc. or any of its successors or assigns; and 

 

	 	(2)	a rating of “BBB-” (or the equivalent) or higher from Standard & Poor’s Ratings Services, or any of its successors or assigns, 

in each case, with a “stable outlook” from such rating agency. 

“IPO Market Capitalization” means an amount equal to (i) the total number of issued and outstanding shares of
Capital Stock of the IPO Entity at the time of closing of the Initial Public Offering multiplied by (ii) the price per share at which such shares of common stock or common equity interests are sold or distributed in such Initial Public
Offering. 
 “Issue Date” means January 29, 2015. 

“Issuer” means Ziggo Bond Finance B.V. and any and all successors thereto. 

“Issuer Asset Sale” means the sale, lease, conveyance or other disposition of any rights, property or assets by the Issuer,
other than the granting of a Permitted Issuer Lien or any Permitted Issuer Investment. 
 “Liberty Global” means Liberty
Global plc and any and all successors thereto. 
 “Lien” means any mortgage, pledge, security interest, encumbrance, lien
or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof). 
 “Local
GAAP” means generally accepted accounting principles of the jurisdiction of the Issuer as in effect from time to time. 

“Losses” means any and all claims, losses, liabilities, damages, costs, expenses and judgments (including legal fees
and expenses) sustained by either party.  
 “Management Fees” means any management, consultancy or other similar
fees payable by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary. 
 “Market
Capitalization” means an amount equal to (1) the total number of issued and outstanding shares of Capital Stock of the IPO Entity on the date of the declaration of the relevant dividend, multiplied by (2) the arithmetic mean of
the closing prices per share of such Capital Stock for the 30 consecutive trading days immediately preceding the date of the declaration of such dividend. 

“Net Available Cash” from an Asset Disposition means cash payments received (including any cash payments received by way of
deferred payment of principal pursuant to a note or installment receivable or otherwise and net proceeds from the sale or other disposition 

  
 23 

 
of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring person of Indebtedness or
other obligations relating to the properties or assets that are the subject of such Asset Disposition or received in any other non-cash form) therefrom, in each case net of: 
  

	 	(1)	all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expenses Incurred, and all federal, state, provincial, foreign and local taxes required to be paid or accrued
as a liability under GAAP (after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Disposition; 

 

	 	(2)	all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon such assets, or which must by its terms, or in order to obtain a
necessary consent to such Asset Disposition, or by applicable law be repaid out of the proceeds from such Asset Disposition; 

  

	 	(3)	all distributions and other payments required to be made to minority interest Holders in Subsidiaries or joint ventures as a result of such Asset Disposition; and 

 

	 	(4)	the deduction of appropriate amounts to be provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the assets disposed of in such Asset Disposition and retained by the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary after such Asset Disposition. 

“Net Cash Proceeds” means, with respect to any issuance or sale of Capital Stock, Subordinated Shareholder Loans or
other capital contributions, the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and
other fees and charges actually Incurred in connection with such issuance or sale and net of taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or deductions and any tax sharing
arrangements). 
 “New Holdco” means the direct Subsidiary of Liberty Global following the Post-Closing
Reorganizations, or, if the distribution or other transfer pursuant to the Post-Closing Reorganizations is to a second-tier Subsidiary of Liberty Global, such second-tier Subsidiary. 

“Non-U.S. Person” means a Person who is not a U.S. Person. 

“Note Collateral” means 

(1) a first-ranking pledge over all of the issued shares of the Issuer; 

(2) a first-ranking charge over all bank accounts of the Issuer; and 

(3) a first-ranking assignment of the Issuer’s rights under the Proceeds Loans and Proceeds Loan Agreement and any Additional Proceeds
Loans that may be incurred in the future, including the Issuer’s rights in respect of the Proceeds Loan Guarantees and the Proceeds Loan Collateral. 

“Note Security Documents” means the security documents creating the security interest in the Note Collateral. 

“Notes” has the meaning assigned to it in the preamble to this Indenture. The Initial Notes and the Additional Notes shall be
treated as a single class for all purposes under this Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional Notes. 

  
 24 

 “Obligations” means any principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 

“Offering Memorandum” means the final Offering Memorandum, dated January 14, 2015, relating to the offer of the
Initial Notes. 
 “Officer” of any Person means the Chairman of the Board of Directors, the Chief Executive Officer,
the Chief Financial Officer, any Managing Director, the Treasurer, any Assistant Treasurer, the Secretary, any Assistant Secretary, or any authorized signatory of such Person. 

“Officer’s Certificate” means a certificate signed by one or more Officers. 

“Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may
be an employee of or counsel to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Trustee. 
 “Parent”
means Liberty Global, any Subsidiary of Liberty Global of which the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor is a Subsidiary on the Issue Date and any other Person of which the Company, UPC NL Holdco or the Affiliate Proceeds
Loan Obligor at any time is or becomes a Subsidiary after the Issue Date. 
 “Parent Company” means the Reporting Company;
provided, however, that upon consummation of (i) the Post-Closing Reorganization, “Parent Company” will mean New Holdco and its successors, and (ii) a Spin-Off, “Parent Company” will mean the Spin Parent and its
successors. 
 “Parent Expenses” means: 
  

	 	(1)	costs (including all professional fees and expenses) Incurred by any Parent in connection with reporting obligations under or otherwise Incurred in connection with compliance with applicable laws, applicable rules or
regulations of any governmental, regulatory or self-regulatory body or stock exchange, this Indenture or any other agreement or instrument relating to Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted
Subsidiary; 

  

	 	(2)	indemnification obligations of any Parent owing to directors, officers, employees or other Persons under its charter or by-laws or pursuant to written agreements with any such Person with respect to its ownership of the
Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or the conduct of the business of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries; 

 

	 	(3)	obligations of any Parent in respect of director and officer insurance (including premiums therefor) with respect to its ownership of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or the conduct of
the business of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries; 

  

	 	(4)	 general corporate overhead expenses, including professional fees and expenses and other operational expenses of any Parent or Subsidiary of a Parent
related to the ownership or operation of the business (including, but not limited to, Intra-Group Services) of the Company, UPC NL Holdco, the 

  
 25 

	 	
Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries, including acquisitions or dispositions by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the
Subsidiaries permitted hereunder (whether or not successful) in each case, to the extent such costs, obligations and/or expenses are not paid by another Subsidiary of such Parent; and 

 

	 	(5)	fees and expenses payable by any Parent in connection with any Related Transaction. 

“Pari Passu Indebtedness” means Indebtedness of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor that ranks
equally or junior in right of payment with the Proceeds Loans (after giving effect to any Proceeds Loan Guarantee and the Priority Agreement or any Additional Priority Agreement). 

“Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the
Depositary, Euroclear or Clearstream, respectively. 
 “Permitted Asset Swap” means the concurrent purchase and sale
or exchange of related business assets (including, without limitation, securities of a Related Business) or a combination of such assets, cash and Cash Equivalents between the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the
Restricted Subsidiaries and another Person. 
 “Permitted Business” means any business: 

 

	 	(1)	that consists of the upgrade, construction, creation, development, marketing, acquisition (to the extent permitted under this Indenture), operation, utilization and maintenance of networks that use existing or future
technology for the transmission, reception and delivery of voice, video and/or other data (including networks that transmit, receive and/or deliver services such as multi channel television and radio, programming, telephony (including for the
avoidance of doubt, mobile telephony), Internet services and content, high speed data transmission, video, multi media and related activities); or 

  

	 	(2)	engaged in by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries on the Issue Date; 

 

	 	(3)	or other activities that are reasonably similar, ancillary, complementary or related to, or a reasonable extension, development or expansion of, the businesses in which the Company, UPC NL Holdco, the Affiliate Proceeds
Loan Obligor and the Restricted Subsidiaries are engaged on the Issue Date, including, without limitation, all forms of television, telephony (including for the avoidance of doubt, mobile telephony) and internet services and any services relating to
carriers, networks, broadcast or communications services, or Content; or 

  

	 	(4)	that comprises being a Holding Company of one or more Persons engaged in any such business. 

“Permitted Collateral Liens” means: 
  

	 	(1)	Liens on the Proceeds Loan Collateral that are described in one or more of clauses (2), (3), (4), (5), (7) and (10) of the definition of “Permitted Liens” and that, in each case, would not materially
interfere with the ability of the Security Agent to enforce the Lien in the Proceeds Loan Collateral granted under the Proceeds Loan Collateral Documents; 

  
 26 

	 	(2)	Liens on the Proceeds Loan Collateral to secure any Additional Proceeds Loan and Pari Passu Indebtedness; and 

  

	 	(3)	any Refinancing Indebtedness in respect of Indebtedness referred to in the foregoing clauses (1) and (2) 

provided, however, that (i) such Lien ranks equal or junior to all other Liens on the Proceeds Loan Collateral securing Senior
Indebtedness of the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor, and (ii) Holders of Indebtedness referred to in clause (2) (or their duly authorized Representative) shall accede to the Priority Agreement or enter into
an Additional Priority Agreement as permitted under Section 4.23 
 “Permitted Holders” means, collectively,
(1) Liberty Global, (2) in the event of a Spin-Off, the Spin Parent and any Subsidiary of the Spin Parent, (3) any Affiliate or Related Person of a Permitted Holder described in clause (1) above, and any successor to such
Permitted Holder, Affiliate, or Related Person, (4) any Person who is acting as an underwriter in connection with any public or private offering of Capital Stock of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, acting
in such capacity and (5) any “person” or “group” of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) whose acquisition of “beneficial ownership” (within the meaning of Rules
13d-3 and 13d-5 under the Exchange Act) of Voting Stock or of all or substantially all of the assets of the Company and the Restricted Subsidiaries (taken as a whole) constitutes a Change of Control in respect of which a Change of Control Offer is
made in accordance with Section 4.14. 
 “Permitted Investment” means an Investment by the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in: 
  

	 	(1)	the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary (other than a Receivables Entity) or a Person which will, upon the making of such Investment, become a Restricted Subsidiary
(other than a Receivables Entity); 

  

	 	(2)	another Person if as a result of such Investment such other Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or a Restricted Subsidiary (other than a Receivables Entity); 

  

	 	(3)	cash and Cash Equivalents or Investment Grade Securities; 

  

	 	(4)	receivables owing to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary created or acquired in the ordinary course of business and payable or dischargeable in accordance with
customary trade terms; provided, however, that such trade terms may include such concessionary trade terms as the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any such Restricted Subsidiary deems reasonable under the
circumstances; 

  

	 	(5)	payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business;

  

	 	(6)	loans or advances to employees made in the ordinary course of business consistent with past practices of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary; 

  
 27 

	 	(7)	Capital Stock, obligations or securities received in settlement of debts created in the ordinary course of business and owing to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted
Subsidiary, or as a result of foreclosure, perfection or enforcement of any Lien, or in satisfaction of judgments or pursuant to any plan of reorganization or similar arrangement including upon the bankruptcy or insolvency of a debtor;

  

	 	(8)	Investments made as a result of the receipt of non-cash consideration from a sale or other disposition of property or assets, including without limitation an Asset Disposition, in
each case, that was made in compliance with Section 4.10 and other Investments resulting from the disposition of assets in transactions excluded from the definition of “Asset Disposition” pursuant to the exclusions from such
definition; 

  

	 	(9)	any Investment existing on the Issue Date or made pursuant to binding commitments in effect on the Issue Date or an Investment consisting of any extension, modification, replacement, renewal or reinvestment of any
Investment or binding commitment existing on the Issue Date or made in compliance with Section 4.07; provided, that the amount of any such Investment or binding commitment may be increased (a) as required by the terms of such
Investment or binding commitment as in existence on the Issue Date (including as a result of the accrual or accretion of interest or original issue discount or the issuance of
pay-in-kind securities) or (b) as otherwise permitted under this Indenture; 

  

	 	(10)	Currency Agreements, Commodity Agreements and Interest Rate Agreements and related Hedging Obligations, which transactions or obligations are Incurred in compliance with Section 4.09; 

 

	 	(11)	Investments by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries, together with all other Investments pursuant to this clause (11), in an aggregate amount at the time
of such Investment not to exceed the greater of €350.0 million and 5.0% of Total Assets at any one time, provided that, if an Investment is made pursuant to this clause in a Person that is not a Restricted Subsidiary and such Person
subsequently becomes a Restricted Subsidiary or is subsequently designated a Restricted Subsidiary in compliance with Section 4.07, such Investment shall thereafter be deemed to have been made pursuant to clause (1) or (2) of the
definition of “Permitted Investments” and not this clause; 

  

	 	(12)	Investments by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary in a Receivables Entity or any Investment by a Receivables Entity in any other Person, in each case, in
connection with a Qualified Receivables Transaction, provided, however, that any Investment in any such Person is in the form of a Purchase Money Note, or any equity interest or interests in Receivables and related assets generated by the Company,
UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary and transferred to any Person in connection with a Qualified Receivables Transaction or any such Person owning such Receivables; 

 

	 	(13)	guarantees issued in accordance with Section 4.09 and other guarantees (and similar arrangements) of obligations not constituting Indebtedness; 

 

	 	(14)	pledges or deposits (a) with respect to leases or utilities provided to third parties in the ordinary course of business or (b) otherwise described in the definition of “Permitted Liens” or made in
connection with Liens permitted under Section 4.12; 

  
 28 

	 	(15)	the Notes and the Existing Senior Notes; 

  

	 	(16)	so long as no Default or Event of Default of the type specified in Section 6.01(a)(1) or Section 6.01(a)(2) has occurred and is continuing, (a) minority Investments in any Person engaged in a Permitted
Business and (b) Investments in joint ventures that conduct a Permitted Business to the extent that, after giving pro forma effect to any such Investment, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00; 

 

	 	(17)	any Investment to the extent made using as consideration Capital Stock of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor (other than Disqualified Stock), Subordinated Shareholder Loans or Capital Stock
of any Parent; 

  

	 	(18)	Investments acquired after the Issue Date as a result of the acquisition by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary, including by way of merger, amalgamation or
consolidation with or into the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in a transaction that is not prohibited by Section 5.01 after the Issue Date to the extent that such Investments were not
made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

 

	 	(19)	Investments resulting from the disposition of assets in transactions excluded from the definition of “Asset Disposition” pursuant to the exclusions from such definition; 

 

	 	(20)	any Person where such Investment was acquired by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary (a) in exchange for any other Investment or accounts receivable held by
the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable or (b) as a result of a foreclosure by the
Issuer or any such Restricted Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; and 

  

	 	(21)	any transaction to the extent constituting an Investment that is permitted and made in accordance with the provisions of Section 4.11(b) (except those transactions described in Section 4.11(b)(1),
Section 4.11(b)(5), Section 4.11(b)(9) or Section 4.11(b)(19)). 

 “Permitted Issuer
Investment” means Investments in: 
  

	 	(1)	cash and Cash Equivalents; 

  

	 	(2)	the Notes; 

  

	 	(3)	any Additional Issuer Debt; 

  

	 	(4)	the Proceeds Loans; and 

  

	 	(5)	any Additional Proceeds Loan. 

  
 29 

 “Permitted Issuer Liens” means: 

 

	 	(1)	Liens created for the benefit of (or to secure) the Notes or the Note Guarantees; 

  

	 	(2)	Liens on the Note Collateral to secure Additional Issuer Debt and guarantees of Additional Issuer Debt; 

  

	 	(3)	Liens arising by operation of law described in one or more of clauses (4), (9) or (11) of the definition of Permitted Liens; 

 

	 	(4)	Liens on Escrowed Proceeds for the benefit of the related Holders of debt securities or other Indebtedness (or the underwriters or arrangers thereof) or on cash set aside at the time of the Incurrence of any
Indebtedness or government securities purchased with such cash, in either case to the extent such cash or government securities prefund the payment of interest on such Indebtedness and are held in escrow accounts or similar arrangement to be applied
for such purpose; and 

  

	 	(5)	Liens over Capital Stock of any Subsidiary of the Issuer. 

 “Permitted Issuer
Maintenance Payments” means amounts paid to a direct or indirect Parent of the Issuer to the extent required to permit such Parent to pay reasonable amounts required to be paid by it to maintain the Parent’s, the Issuer’s and its
Subsidiaries’ corporate existence and to pay reasonable accounting, legal, management and administrative fees and other bona fide operating expenses. 

“Permitted Liens” means: 
  

	 	(A)	with respect to any Restricted Subsidiary: 

  

	 	(1)	Liens on Receivables and related assets of the type described in the definition of “Qualified Receivables Transaction” Incurred in connection with a Qualified Receivables Transaction; 

 

	 	(2)	pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the
payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or United States government bonds to secure surety or appeal bonds to which such Person is a
party, or deposits as security for contested taxes or import or customs duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

 

	 	(3)	Liens imposed by law, including carriers’, warehousemens’, mechanics’ landlords’, materialmens’, repairmens’ and other like Liens, in each case for sums not yet overdue for a period of more
than 60 days or that are bonded or being contested in good faith by appropriate proceedings; 

  

	 	(4)	Liens for taxes, assessments or other governmental charges not yet subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings provided appropriate reserves required
pursuant to GAAP have been made in respect thereof; 

  
 30 

	 	(5)	Liens in favor of issuers of surety or performance bonds or letters of credit or bankers’ acceptances issued pursuant to the request of and for the account of such Person in the ordinary course of its business;

  

	 	(6)	encumbrances, ground leases, easements or reservations of, or rights of others for, licenses, rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or
other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor and the Restricted Subsidiaries or to the ownership of its properties which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries; 

  

	 	(7)	Liens securing Hedging Obligations so long as the related Indebtedness is, and is permitted to be incurred under this Indenture, secured by a Lien on the same property securing such Hedging Obligation;

  

	 	(8)	leases, licenses, subleases and sublicenses of assets (including, without limitation, real property and intellectual property rights) which do not materially interfere with the ordinary conduct of the business of the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries; 

  

	 	(9)	Liens arising out of judgments, decrees, orders or awards not giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings which may have been duly initiated for the
review of such judgment, decree, order or award have not been finally terminated or the period within which such proceedings may be initiated has not expired; 

  

	 	(10)	Liens for the purpose of securing the payment of all or a part of the purchase price of, or Capitalized Lease Obligations, Purchase Money Obligations or other payments Incurred to finance the acquisition, improvement or
construction of, assets or property acquired or constructed in the ordinary course of business provided that such Liens do not encumber any other assets or property of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Restricted
Subsidiaries other than such assets or property and assets affixed or appurtenant thereto; 

  

	 	(11)	Liens arising solely by virtue of any statutory or common law provisions or customary business provisions relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other
funds maintained with a depositary institution; provided that such deposit account is not intended by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary to provide collateral to the depository
institution; 

  

	 	(12)	Liens arising from United States Uniform Commercial Code financing statement filings (or similar filings in other applicable jurisdictions) regarding operating leases entered into by the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries in the ordinary course of business; 

  
 31 

	 	(13)	Liens existing on, or provided for under written arrangements existing on, the Issue Date; 

  

	 	(14)	Liens on property, other assets or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary; provided, however, that any such Lien may not extend to any other property owned by the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; 

  

	 	(15)	Liens on property at the time the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary acquired the property, including any acquisition by means of a merger or consolidation with or
into any Restricted Subsidiary; provided, however, that such Liens may not extend to any other property owned by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary; 

 

	 	(16)	Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary; 

 

	 	(17)	Liens securing the Proceeds Loan and any Additional Proceeds Loan; 

  

	 	(18)	Liens securing Refinancing Indebtedness Incurred to refinance Indebtedness that was previously so secured, provided that any such Lien is limited to all or part of the same property or assets (plus improvements,
accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of property that is the
security for a Permitted Lien hereunder; 

  

	 	(19)	any interest or title of a lessor under any Capitalized Lease Obligation or operating lease; 

  

	 	(20)	Liens on Capital Stock or other securities of any Unrestricted Subsidiary that secure Indebtedness or other obligations of such Unrestricted Subsidiary; 

 

	 	(21)	Liens in respect of the ownership interests in, or assets owned by, any joint ventures or similar arrangements securing obligations of such joint ventures or similar agreements; 

 

	 	(22)	Liens over rights under loan agreements relating to, or over notes or similar instruments evidencing, the on-loan of proceeds received by a Restricted Subsidiary from the issuance of Indebtedness Incurred by a
Restricted Subsidiary, which Liens are created to secure payment of such Indebtedness; 

  

	 	(23)	Liens securing Indebtedness that is permitted to be Incurred by the Restricted Subsidiaries under Section 4.09(b)(1) or clauses (1), (3), (7), or (12) (in the case of (12), to the extent such guarantee is in
respect of Indebtedness otherwise permitted to be secured and specified in this definition of Permitted Liens), (15) and (17) of Section 4.09(c). 

  
 32 

	 	(24)	Liens on assets or property of a Restricted Subsidiary that is not a Proceeds Loan Obligor securing Indebtedness of any Restricted Subsidiary that is not a Proceeds Loan Obligor permitted by Section 4.09;

  

	 	(25)	Liens on Escrowed Proceeds for the benefit of the related Holders of debt securities or other Indebtedness (or the underwriters or arrangers thereof) or on cash set aside at the time of the Incurrence of any
Indebtedness or government securities purchased with such cash, in either case to the extent such cash or government securities prefund the payment of interest on such Indebtedness and are held in escrow accounts or similar arrangement to be applied
for such purpose; and 

  

	 	(26)	Liens Incurred with respect to obligations that do not exceed the greater of (a) €250.0 million and (b) 5.0% of Total Assets at any time outstanding: and 

 

	 	(B)	with respect to the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor: 

  

	 	(1)	Liens securing the Proceeds Loans; 

  

	 	(2)	Permitted Collateral Liens; 

  

	 	(3)	Liens securing guarantees of Indebtedness Incurred under Credit Facilities, to the extent the underlying Indebtedness was Incurred in compliance with Section 4.09(b) or Section 4.09(c)(1); 

 

	 	(4)	Liens on property at the time the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor acquired the property, including any acquisition by means of a merger or consolidation with or into the Company, UPC NL
Holdco or the Affiliate Proceeds Loan Obligor; provided, that such Liens may not extend to any other property owned by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor; 

 

	 	(5)	Liens over (i) Capital Stock of any Restricted Subsidiary and (ii) rights under loan agreements, notes or similar instruments representing Indebtedness of any Restricted Subsidiary owing to and held by the
Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, securing Indebtedness Incurred by a Restricted Subsidiary in compliance with (a) Section 4.09(b)(1) or clauses (1), (7), (15) and (17) of Section 4.09(c) and
(b) any Refinancing Indebtedness in respect of Indebtedness referred to in clause (a); and 

  

	 	(6)	Liens of the type described in clauses (3), (4), (5), (6), (7), (9), (10), (11), (12), (17), (19), (20), (21) and (23) of clause (A) of this definition of “Permitted Liens”. 

“Permitted Revolving Credit Facility” means, one or more debt facilities or arrangements that may be entered into by the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Restricted Subsidiaries providing for revolving credit loans, letters of credit or other revolving indebtedness or other advances, in each case, Incurred in compliance with
Section 4.09. 
 “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision hereof or any other entity. 

  
 33 

 “Post-Closing Reorganization” means the possible reorganization that is
expected to include (i) a distribution or other transfer of Ziggo Group Holding B.V. or the Reporting Entity and their Subsidiaries to Liberty Global or a first-tier or second-tier Subsidiary of Liberty Global through one or more mergers,
transfers, consolidations or other similar transactions, and/or (ii) the issuance by Ziggo Group Holding B.V. or the Reporting Entity of Capital Stock to Liberty Global or a first-tier or second-tier Subsidiary of Liberty Global and, as
consideration therefor, the assignment or transfer by Liberty Global or such first-tier or second-tier Subsidiary of Liberty Global of assets to Ziggo Group Holding B.V. or the Reporting Entity. 

“Preferred Stock”, as applied to the Capital Stock of any corporation, partnership, limited liability company or other
entity, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such entity, over shares
of Capital Stock of any other class of such entity. 
 “Priority Agreement” means the priority agreement dated
January 17, 2014 (as amended on February, 20 2014 and as amended and restated on July 4, 2014) between, among others, the Company, UPC NL and Deutsche Trustee Company Limited, as security agent, as previously amended and as may be further
amended and in effect from time to time. 
 “Private Placement Legend” means the legend set forth in
Section 2.07(j)(1) to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 

“Pro forma EBITDA” means, for any period, the Consolidated EBITDA of the Company, UPC NL Holdco, the Affiliate Proceeds Loan
Obligor and the Restricted Subsidiaries, provided, however, that for the purposes of calculating Pro forma EBITDA for such period, if, as of such date of determination: 
  

	 	(1)	since the beginning of such period the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary will have made any Asset Disposition or disposed of any company, any business, or any group
of assets constituting an operating unit of a business (any such disposition, a “Sale”) or if the transaction giving rise to the need to calculate the Consolidated Net Leverage Ratio is such a Sale, Pro forma EBITDA for such period will be
reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the assets which are the subject of such Sale for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such
period; 

  

	 	(2)	since the beginning of such period the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary (by merger or otherwise) will have made an Investment in any Person that thereby becomes a
Restricted Subsidiary, or otherwise acquires any company, any business, or any group of assets constituting an operating unit of a business (any such Investment or acquisition, a “Purchase”) including any such Purchase occurring in
connection with a transaction causing a calculation to be made hereunder, Consolidated EBITDA for such period will be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of such period; and

  

	 	(3)	 since the beginning of such period any Person (that became a Restricted Subsidiary or was merged with or into the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or any Restricted Subsidiary since the beginning of such period) will have made any Sale or any Purchase that would have required an adjustment pursuant to clause (1) or (2) above if

  
 34 

	 	
made by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary since the beginning of such period, Consolidated EBITDA for such period will be calculated after
giving pro forma effect thereto as if such Sale or Purchase occurred on the first day of such period. 

 For purposes of this
definition and the definition of Consolidated Net Leverage Ratio, (a) whenever pro forma effect is to be given to any transaction or calculation, the pro forma calculations will be as determined in good faith by a responsible
financial or accounting officer of the Company (including without limitation in respect of anticipated expense and cost reductions) including, without limitation, as a result of, or that would result from any actions taken, committed to be taken or
with respect to which substantial steps have been taken, by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary including, without limitation, in connection with any cost reduction synergies or cost savings
plan or program or in connection with any transaction, investment, acquisition, disposition, restructuring, corporate reorganization or otherwise (regardless of whether these cost savings and cost reduction synergies could then be reflected in pro
forma financial statements to the extent prepared), (b) in determining the amount of Indebtedness outstanding on any date of determination, pro forma effect shall be given to any Incurrence, repayment, repurchase, defeasance or other
acquisition, retirement or discharge of Indebtedness as if such transaction had occurred on the first day of the relevant period and (c) interest on any Indebtedness that bears interest at a floating rate and that is being given pro forma
effect shall be calculated as if the rate in effect on the date of calculation had been applicable for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). 

“Proceeds Loans” means, collectively, the Dollar Proceeds Loans and the Euro Proceeds Loans. 

“Proceeds Loan Agreement” means the senior proceeds loan facility agreement to be dated on or about the Escrow Release Date,
pursuant to which the Issuer will fund the Proceeds Loans to the Proceeds Loan Borrowers. 
 “Proceeds Loan Borrowers”
means, in respect of each Proceeds Loan, either the Company or UPC NL Holdco, any and all successors thereto, and any permitted assignees thereof under the Proceeds Loan Agreement. 

“Proceeds Loan Collateral” means the Capital Stock of each Proceeds Loan Obligor and any other additional security interests
that may in the future be pledged to secure obligations under the Proceeds Loans. 
 “Proceeds Loan Collateral Documents”
means the security documents which create the security interest in the Proceeds Loan Collateral. 
 “Proceeds Loan
Guarantors” means, in respect of each Proceeds Loan, the Proceeds Loan Obligors other than the borrower of such Proceeds Loan, any and all successors thereto, and any permitted assignees thereof under the Proceeds Loans (including any
Additional Proceeds Loan Guarantor). 
 “Proceeds Loan Obligors” means the Proceeds Loan Borrowers and the Proceeds Loan
Guarantors (including any Additional Proceeds Loan Guarantor). 
 “Public Debt” means any Indebtedness consisting of bonds,
debentures, notes or other similar debt securities issued in (1) a public offering registered under the Securities Act or (2) a private placement to institutional investors that is underwritten for resale in accordance with Rule 144A or
Regulation S under the Securities Act, whether or not it includes registration rights entitling the Holders of such debt securities to registration thereof with the SEC for public resale. The term “Public Debt” (a) shall not include
the Notes (or any 

  
 35 

 
Additional Notes) and (b) for the avoidance of doubt, shall not be construed to include any Indebtedness issued to institutional investors in a direct placement of such Indebtedness that is
not underwritten by an intermediary (it being understood that, without limiting the foregoing, a financing that is distributed to not more than ten Persons (provided that multiple managed accounts and affiliates of any such Persons shall be treated
as one Person for the purposes of this definition) shall be deemed not to be underwritten), or any Indebtedness under the Senior Facility Agreement, a Permitted Revolving Credit Facility, commercial bank or similar Indebtedness, Capitalized Lease
Obligation or recourse transfer of any financial asset or any other type of Indebtedness incurred in a manner not customarily viewed as a “securities offering”. 

“Public Market” means any time after an Equity Offering has been consummated, shares of common stock or other common equity
interests of the IPO Entity having a market value in excess of €75 million on the date of such Equity Offering have been distributed pursuant to such Equity Offering. 

“Public Offering” means any offering, including an Initial Public Offering, of shares of common stock or other common equity
interests that are listed on an exchange or publicly offered (which shall include any offering pursuant to Rule 144A and/or Regulation S under the Securities Act to professional market investors or similar persons). 

“Public Offering Expenses” means expenses Incurred by any Parent in connection with any public offering of Capital Stock or
Indebtedness (whether or not successful): 
  

	 	(1)	where the net proceeds of such offering are intended to be received by or contributed or loaned to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary; or 

 

	 	(2)	in a prorated amount of such expenses in proportion to the amount of such net proceeds intended to be so received, contributed or loaned; or 

 

	 	(3)	otherwise on an interim basis prior to completion of such offering so long as any Parent shall cause the amount of such expenses to be repaid to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the
relevant Restricted Subsidiary out of the proceeds of such offering promptly if completed, 

 in each case, to the extent such
expenses are not paid by another Subsidiary of such Parent. 
 “Purchase Money Note” means a promissory note of a
Receivables Entity evidencing the deferred purchase price of Receivables (and related assets) and/or a line of credit, which may be irrevocable, from the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in
connection with a Qualified Receivables Transaction with a Receivables Entity, which deferred purchase price or line is repayable from cash available to the Receivables Entity, other than amounts required to be established as reserves pursuant to
agreements, amounts paid to investors in respect of interest, principal and other amounts owing to such investors and amounts owing to such investors and amounts paid in connection with the purchase of newly generated Receivables. 

“Purchase Money Obligations” means any Indebtedness Incurred to finance or refinance the acquisition, leasing,
construction or improvement of property (real or personal) or assets (including Capital Stock), and whether acquired through the direct acquisition of such property or assets or the acquisition of the Capital Stock of any Person owning such property
or assets, or otherwise. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

  
 36 

 “Qualified Receivables Transaction” means any transaction or series of
transactions that may be entered into by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries pursuant to which the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of its Restricted
Subsidiaries may sell, convey or otherwise transfer to (1) a Receivables Entity (in the case of a transfer by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries) and (2) any other Person
(in the case of a transfer by a Receivables Entity), or may grant a Lien in, any Receivables (whether now existing or arising in the future) of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries,
and any assets related thereto including, without limitation, all collateral securing such Receivables, all contracts and all guarantees or other obligations in respect of such accounts receivable, the proceeds of such Receivables and other assets
which are customarily transferred, or in respect of which Liens are customarily granted, in connection with asset securitization involving Receivables. 

“Receivable” means a right to receive payment arising from a sale or lease of goods or the performance of services by
a Person pursuant to an arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any
items of property that would be classified as an “account”, “chattel paper”, “payment intangible” or “instrument” under the Uniform Commercial Code as in effect in the State of New York and any
“supporting obligations” as so defined. 
 “Receivables Entity” means a Wholly Owned Subsidiary of
the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor (or another Person in which the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary makes an Investment and to which the Company, UPC NL Holdco,
the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary transfers Receivables and related assets) which engages in no activities other than in connection with the financing of Receivables and which is designated by the Board of Directors of
the Company (as provided below) as a Receivables Entity: 
  

	 	(1)	no portion of the Indebtedness or any other obligations (contingent or otherwise) of which: 

  

	 	(a)	is guaranteed by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to
Standard Securitization Undertakings); 

  

	 	(b)	is recourse to or obligates the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in any way other than pursuant to Standard Securitization Undertakings; or 

 

	 	(c)	subjects any property or asset of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than
pursuant to Standard Securitization Undertakings; 

  

	 	(2)	with which neither the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor nor any Restricted Subsidiary has any material contract, agreement, arrangement or understanding (except in connection with a Purchase
Money Note or Qualified Receivables Transaction) other than on terms no less favorable to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary than those that might be obtained at the time from Persons that
are not Affiliates of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, other than fees payable in the ordinary course of business in connection with servicing Receivables; and 

 

	 	(3)	to which neither the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor nor any Restricted Subsidiary has any obligation to maintain or preserve such entity’s financial condition or cause such entity to
achieve certain levels of operating results. 

  
 37 

 Any such designation by the Board of Directors of the Company shall be evidenced to the Trustee
by promptly filing with the Trustee a certified copy of the resolution of the Board of Directors of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor giving effect to such designation and an Officers’ Certificate certifying that
such designation complied with the foregoing conditions. 
 “Redemption Date” means, when used with respect to any Note to
be redeemed pursuant to this Indenture, the date fixed for such redemption. 
 “Refinancing Indebtedness” means
Indebtedness that is Incurred to refund, refinance, replace, exchange, renew, repay or extend (including pursuant to any defeasance or discharge mechanism) (collectively, “refinance”, “refinances”, and “refinanced”
shall have a correlative meaning) any Indebtedness existing on the Issue Date or Incurred in compliance with this Indenture (including Indebtedness of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor that refinances Indebtedness of
any Restricted Subsidiary and Indebtedness of any Restricted Subsidiary that refinances Indebtedness of another Restricted Subsidiary) including Indebtedness that refinances Refinancing Indebtedness, including successive refinancings; provided,
however, that: 
  

	 	(1)	if the Indebtedness being refinanced constitutes Subordinated Obligations, (a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity of the Indebtedness being refinanced is later than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity later than the Stated Maturity of the Notes; 

  

	 	(2)	such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original issue discount, an aggregate issue price) that is equal to or less than the sum of the aggregate principal amount
(or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced plus an amount to pay any interest, fees and expenses, premiums and defeasance costs, Incurred in connection therewith;
and 

  

	 	(3)	if the Indebtedness being refinanced constitutes Subordinated Obligations, such Refinancing Indebtedness is subordinated in right of payment to the Notes on terms at least as favorable to the Holders as those contained
in the documentation governing the Indebtedness being refinanced. 

 Refinancing Indebtedness in respect of any Credit
Facility or any other Indebtedness may be Incurred from time to time after the termination, discharge or repayment of all or any part of any such Credit Facility or other Indebtedness. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Dollar Regulation S Global Note or a Euro Regulation S Global Note. 

“Related Business” means any business that is the same as or related, ancillary or complementary to any of the businesses of
the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries on the Issue Date. 

  
 38 

 “Related Person” with respect to any Permitted Holder, means: 

 

	 	(1)	any controlling equity Holder or majority (or more) owned Subsidiary of such Permitted Holder; or 

  

	 	(2)	in the case of an individual, any spouse, family member or relative of such individual, any trust or partnership for the benefit of one or more of such individual and any such spouse, family member or relative, or the
estate, executor, administrator, committee or beneficiaries of any thereof; or 

  

	 	(3)	any trust, corporation, partnership or other Person for which one or more of the Permitted Holders and other Related Persons of any thereof constitute the beneficiaries, stockholders, partners or owners thereof, or
Persons beneficially holding in the aggregate a majority (or more) controlling interest therein. 

 “Related
Taxes” means: 
  

	 	(1)	any taxes, including but not limited to sales, use, transfer, rental, ad valorem, value added, stamp, property, consumption, franchise, license, capital, registration, business, customs, net worth, gross receipts,
excise, occupancy, intangibles or similar taxes (other than (x) taxes measured by income and (y) withholding imposed on payments made by any Parent), required to be paid by any Parent by virtue of its: 

 

	 	(a)	being organized or incorporated or having Capital Stock outstanding (but not by virtue of owning stock or other equity interests of any corporation or other entity other than the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or any of the Company’s, UPC NL Holdco’s or the Affiliate Proceeds Loan Obligor’s Subsidiaries), or 

  

	 	(b)	being a holding company parent of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Company’s, UPC NL Holdco’s or the Affiliate Proceeds Loan Obligor’s Subsidiaries, or

  

	 	(c)	receiving dividends from or other distributions in respect of the Capital Stock of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, or any of the Company’s, UPC NL Holdco’s or the Affiliate
Proceeds Loan Obligor’s Subsidiaries, or 

  

	 	(d)	having guaranteed any obligations of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Subsidiary of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, or 

 

	 	(e)	having made any payment in respect to any of the items for which the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor is permitted to make payments to any Parent pursuant to Section 4.07,

 in each case, to the extent such taxes are not paid by another Subsidiary or such Parent; and 

 

	 	(2)	 any taxes measured by income for which any Parent is liable up to an amount not to exceed with respect to such taxes the amount of any such taxes that
the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their Subsidiaries would have been required to pay on a separate company basis or on a consolidated basis if the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and
their Subsidiaries had paid tax on a consolidated, combined, group, affiliated or unitary basis on behalf of an affiliated group 

  
 39 

	 	
consisting only of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their Subsidiaries and any taxes imposed by way of withholding on payments made by one Parent to another
Parent on any financing that is provided, directly or indirectly in relation to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their Subsidiaries (reduced by any taxes measured by income actually paid by the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor and their Subsidiaries). 

 “Related Transaction” means
(1) any transactions to effect or consummate the Reorganization Transactions, the Ziggo Group Combination and/or the Ziggo Group Assumption, which may include the contribution of an Affiliate entity by a Parent (“Contributed Entity”)
which Contributed Entity indirectly holds Share Capital in the Company or the UPC NL Holdco, (2) any transaction to effect or consummate the Credit Facility Assumption, (3) intercompany indebtedness (A) by the Company, UPC NL Holdco,
the Affiliate Proceeds Loan Obligor, the Contributed Entity or a Restricted Subsidiary to an Affiliate or (B) by an Affiliate to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor, the Contributed Entity or a Restricted Subsidiary,
in each case, to effect or consummate the Ziggo Group Combination and/or the Ziggo Group Assumption, (4) the Post-Closing Reorganization and (5) payment of fees, costs and expenses in connection with the Reorganization Transactions, the
Ziggo Group Combination and/or the Ziggo Group Assumption and/or Credit Facility Assumption and the Post-Closing Reorganization. 

“Reorganization Transactions” means the internal reorganization of Liberty Global’s broadband and wireless
communications businesses in the Netherlands whereby UPC Nederland B.V. and/or its successor company and its subsidiaries will become subsidiaries of UPC Nederland Holding I B.V. 

“Reporting Entity” refers to (i) Ziggo Group Holding B.V., (ii) following the accession of any Affiliate
Subsidiary, Ziggo Group Holding B.V. or a common Parent of the Company, UPC NL Holdco and the Affiliate Subsidiary, or (iii) following an Affiliate Proceeds Loan Obligor Accession, a common Parent of the Company, UPC NL Holdco and the Affiliate
Proceeds Loan Obligor. 
 “Representative” means any trustee, agent or representative (if any) for an issue of Senior
Indebtedness or the provider of Senior Indebtedness (if provided on a bilateral basis), as the case may be. 
 “Responsible
Officer,” when used with respect to the Trustee, means any officer within the Corporate Trust Administration of the Trustee (or any successor group of the Trustee) including any vice president, assistant vice president, assistant treasurer,
or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is
referred because of his knowledge of and familiarity with the particular subject. 
 “Restricted Definitive Note” means a
Definitive Note bearing the Private Placement Legend. 
 “Restricted Global Note” means a Global Note bearing the Private
Placement Legend. 
 “Restricted Investment” means any Investment other than a Permitted Investment. 

“Restricted Period” means the 40-day distribution compliance period as defined in
Regulation S. 

  
 40 

 “Restricted Subsidiary” means any Subsidiary of the Company, UPC NL Holdco or
the Affiliate Proceeds Loan Obligor together with any Affiliate Subsidiaries other than an Unrestricted Subsidiary. 
 “Revolving
Facility Excluded Amount” means the greater of (1) €400 million (or its equivalent in other currencies) and (2) 0.25 multiplied by the Pro Forma EBITDA of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and
the Restricted Subsidiaries on a Consolidated basis for the period of the most recent two consecutive fiscal quarters for which financial statements have previously been furnished to the Holders pursuant to Section 4.03, multiplied by 2.0. 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the United States Securities Act of 1933, as amended. 

“Security Agent” means Deutsche Trustee Company Limited and any successor or replacement Security Agent, acting in such
capacity. 
 “Senior Facility Agreement” means the senior facility agreement dated January 27, 2014 between, among
others, Amsterdamse Beheer- en Consultingmaatschappij B.V., certain subsidiaries of Amsterdamse Beheer- en Consultingmaatschappij B.V. and certain financial institutions as lenders thereunder, as amended or supplemented from time to time. 

“Senior Indebtedness” means, whether outstanding on the Issue Date or thereafter Incurred, all amounts payable by, under or
in respect of all other Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary, including premiums and accrued and unpaid interest (including interest accruing on or after the filing of any
petition in bankruptcy or for reorganization relating to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary at the rate specified in the documentation with respect thereto whether or not a claim for post
filing interest is allowed in such proceeding) and fees relating thereto; provided, however, that Senior Indebtedness will not include: 
  

	 	(1)	any Indebtedness Incurred in violation of this Indenture; 

  

	 	(2)	any obligation of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor to any Restricted Subsidiary; 

  

	 	(3)	any liability for taxes owed or owing by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; 

 

	 	(4)	any accounts payable or other liability to trade creditors arising in the ordinary course of business (including guarantees thereof or instruments evidencing such liabilities); 

 

	 	(5)	any Indebtedness, guarantee or obligation of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor that is expressly subordinate or junior in right of payment to any other Indebtedness, guarantee or
obligation of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, including, without limitation, any Subordinated Obligation; or 

  

	 	(6)	any Capital Stock. 

  
 41 

 “Senior Secured Priority Agreement” means the priority agreement dated
January 12, 2006 (as amended and restated on October 6, 2006, November 17, 2006, March 28, 2013 and November 14, 2014) between, among others, Amsterdamse Beheer- en Consultingmaatschappij B.V., certain guarantors
party thereto and ING Bank N.V., as security agent, as previously amended and as may be further amended and in effect from time to time. 

“Significant Subsidiary” means any Restricted Subsidiary which, together with the Restricted Subsidiaries of such Restricted
Subsidiary, accounted for more than 10% of Total Assets as of the end of the most recently completed fiscal year. 
 “Specified
Legal Expenses” means, to the extent not constituting an extraordinary, non-recurring or unusual loss, charge or expense, all attorneys’ and experts’ fees and expenses and all other costs,
liabilities (including all damages, penalties, fines and indemnification and settlement payments) and expenses paid or payable in connection with any threatened, pending, completed or future claim, demand, action, suit, proceeding, inquiry or
investigation (whether civil, criminal, administrative, governmental or investigative). 
 “Spin-Off” means a transaction
by which all outstanding ordinary shares of the Parent Company or a Parent of the Parent Company directly or indirectly owned by Liberty Global are distributed to all of Liberty Global’s shareholders either directly or indirectly through the
distribution of shares in a company holding the Parent Company’s shares or such Parent’s shares. 
 “Spin Parent”
means the company the shares of which are distributed to the shareholders of Liberty Global pursuant to the Spin-Off. 
 “Standard
Securitization Undertakings” means representations, warranties, covenants and indemnities entered into by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary which are reasonably customary in
securitization of Receivables transactions. 
 “Stated Maturity” means, with respect to any security, the date specified in
such security as the fixed date on which the payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such
principal prior to the date originally scheduled for the payment thereof. 
 “Subordinated Obligation” means in the case of
each Proceeds Loan Borrower, any Indebtedness that is expressly subordinate or junior in right of payment to the applicable Proceeds Loan pursuant to a written agreement and, in the case of another Proceeds Loan Obligor, any Indebtedness that is
expressly subordinate or junior in right of payment to the Proceeds Loan Guarantee of such Proceeds Loan Obligor pursuant to a written agreement. 

“Subordinated Shareholder Loans” means Indebtedness of the Company, UPC NL Holdco, or the Affiliate Proceeds Loan Obligor
(and any security into which such Indebtedness, other than Capital Stock, is convertible or for which it is exchangeable at the option of the Holder) issued to and held by any Affiliate (other than a Restricted Subsidiary) that (either pursuant to
its terms or pursuant to an agreement with respect thereto): 
  

	 	(1)	does not mature or require any amortization, redemption or other repayment of principal or any sinking fund payment prior to the first anniversary of the Stated Maturity of the Notes (other than through conversion or
exchange of such Indebtedness into Capital Stock (other than Disqualified Stock) of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, as applicable, or any Indebtedness meeting the requirements of this definition);

  
 42 

	 	(2)	does not require, prior to the first anniversary of the Stated Maturity of the Notes, payment of cash interest, cash withholding amounts or other cash gross-ups, or any similar cash amounts; 

 

	 	(3)	contains no change of control or similar provisions that are effective, and does not accelerate and has no right to declare a default or event of default or take any enforcement action or otherwise require any cash
payment prior to the first anniversary of the Stated Maturity or the Notes; 

  

	 	(4)	does not provide for or require any Lien or encumbrance over any asset of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries; 

 

	 	(5)	is subordinated in right of payment to the prior payment in full of the Proceeds Loan or the Proceeds Loan Guarantee, as applicable, in the event of (a) a total or partial liquidation, dissolution or winding up of
the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, as applicable, (b) a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property or UPC NL Holdco or its property, as
applicable, (c) an assignment for the benefit of creditors or (d) any marshalling of the assets and liabilities of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, as applicable; 

 

	 	(6)	under which the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, as applicable, may not make any payment or distribution of any kind or character with respect to any obligations on, or relating to, such
Subordinated Shareholder Loans if (a) a payment Default on the Notes occurs and is continuing or (b) any other Default under this Indenture occurs and is continuing on the Notes that permits the Holders to accelerate their maturity and the
Company receives notice of such Default from the requisite Holders, until in each case the earliest of (i) the date on which such Default is cured or waived or (ii) 180 days from the date such Default occurs (and only once such notice may
be given during any 360 day period); and 

  

	 	(7)	under which, if the Holder of such Subordinated Shareholder Loans receives a payment or distribution with respect to such Subordinated Shareholder Loan (a) other than in accordance with this Indenture or as a
result of a mandatory requirement of applicable law or (b) under circumstances described under clauses (5)(a) through (d) above, such Holder will forthwith pay all such amounts to the Trustee to be held in trust for application in
accordance with this Indenture. 

 “Subsidiary” of any Person means (a) any corporation, association or
other business entity (other than a partnership, joint venture, limited liability company or similar entity) of which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers or trustees thereof (or Persons performing similar functions) or (b) any partnership, joint venture limited liability company or similar entity of which more than 50% of the capital
accounts, distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or indirectly, by (1) such
Person, (2) such Person and one or more Subsidiaries of such Person or (3) one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a Subsidiary will refer to a Subsidiary of the Company, UPC NL Holdco
or the Affiliate Proceeds Loan Obligor. 

  
 43 

 “Total Assets” means the Consolidated total assets of the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries as shown on the most recent balance sheet (excluding the footnotes thereto) of the Reporting Entity (and, in the case of any determination relating to any Incurrence of
Indebtedness or any Restricted Payment, on a pro forma basis including any property or assets being acquired in connection therewith). 

“Trade Payables” means, with respect to any Person, any accounts payable or any Indebtedness or monetary obligation to trade
creditors created, assumed or guaranteed by such Person arising in the ordinary course of business in connection with the acquisition of goods or services. 

“Treasury Rate” means the yield to maturity at the time of computation of U.S. Treasury securities with a constant maturity
(as compiled and published in the most recent Federal Reserve Statistical Release H.15X (519) which has become publicly available on a day no earlier than two Business Days prior to the date of the delivery of the redemption notice in respect
of such Redemption Date (or, if such statistical release is not so published or available, any publicly available source of similar market date selected by the Issuer in good faith)) most nearly equal to the period from the Redemption Date to
January 15, 2020; provided, however, that if the period from the Redemption Date to January 15, 2020 is not equal to the constant maturity of a U.S. Treasury security for which a weekly average yield is given, the Treasury Rate shall be
obtained by a linear interpolation (calculated to the nearest one twelfth of a year) from the weekly average yields of U.S. Treasury securities for which such yields are given, except that if the period from the Redemption Date to January 15,
2020 is less than one year, the weekly average yield on actually traded U.S. Treasury securities adjusted to a constant maturity of one year shall be used. 

“Trustee” means Deutsche Trustee Company Limited, until a successor replaces it in accordance with the applicable provisions
of this Indenture and thereafter means the successor serving hereunder. 
 “Unrestricted Global Note” means a Global Note
that does not bear and is not required to bear the Private Placement Legend. 
 “Unrestricted Subsidiary” means: 

 

	 	(1)	any Subsidiary of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors of the Company in the manner
provided below; and 

  

	 	(2)	any Subsidiary of an Unrestricted Subsidiary. 

 The Board of Directors of the Company, UPC NL
Holdco or the Affiliate Proceeds Loan Obligor may designate any Subsidiary of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor (including any newly acquired or newly formed Subsidiary or a Person becoming a Subsidiary through merger
or consolidation or Investment therein) to be an Unrestricted Subsidiary only if: 
  

	 	(a)	such Subsidiary or any of its Subsidiaries does not own any Capital Stock or Indebtedness of or have any Investment in, or own or hold any Lien on any property of, any other Subsidiary of the Company, UPC NL Holdco or
the Affiliate Proceeds Loan Obligor which is not a Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary; and 

  

	 	(b)	such designation and the Investment of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor in such Subsidiary complies with Section 4.07. 

  
 44 

 Any such designation by the Board of Directors of the Company, UPC NL Holdco or the Affiliate
Proceeds Loan Obligor shall be evidenced to the Trustee by promptly filing with the Trustee a resolution of the Board of Directors of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor giving effect to such designation and an
Officers’ Certificate certifying that such designation complies with the foregoing conditions. If, at any time, any Unrestricted Subsidiary would fail to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease
to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary shall be deemed to be Incurred as of such date. 

The Board of Directors of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided that immediately after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof and either (1) the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries could Incur at least €1.00 of additional Pari Passu Indebtedness under Section 4.09(b) or (2) the Consolidated Net Leverage Ratio would be no greater than it
was immediately prior to giving effect to such designation, in each case, on a pro forma basis taking into account such designation. 

“U.S. Government Obligations” means direct obligations of, or obligations guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “U.S. Person” means a U.S. Person as defined in
Rule 902(k) promulgated under the Securities Act. 
 “Voting Stock” of a Person means all classes of Capital Stock of such
Person then outstanding and normally entitled to vote in the election of directors. 
 “Wholly Owned Subsidiary” means
(1) in respect of any Person, a Person, all of the Capital Stock of which (other than directors’ qualifying shares or an immaterial amount of shares required to be owned by other Persons pursuant to applicable law or regulation or to
ensure limited liability) is owned by that Person directly or (2) indirectly by a Person that satisfies the requirements of clause (1). 

“Written Instructions” means any written notices, directions or instructions (including for the avoidance of doubt by
Electronic Means) received by the Trustee or the Agents from an Authorized Person or from a person reasonably believed by the Agents to be an Authorized Person. 

“Ziggo Group Combination” means the series of transactions whereby (i) the Company and its Subsidiaries are combined
with UPC NL Holdco and its Subsidiaries through one or more mergers, consolidations, contributions or similar transactions or (ii) the special purpose financing company structure whereby the Issuer issued the Notes and funded proceeds loans is
terminated and the Proceeds Loan Obligors and their Subsidiaries assume or otherwise acquire all of the outstanding Indebtedness of the Issuer and its Subsidiaries through the assumption, assignment or other transfer of such Indebtedness or the
acquisition or other transfer of the Issuer and/or any of its Subsidiaries to the Proceeds Loan Obligors. 
 “Ziggo Group
Combination Date” means the date the Ziggo Group Combination is consummated. 

  
 45 

 Section 1.02 Other Definitions. 

 

			
	 Term
	  	 Defined in
Section

		
	 “Accession Agreement”
	  	4.27
	 “Additional Amounts”
	  	4.19
	 “Additional Collateral Sharing Agreement”
	  	4.22
	 “Additional Priority Agreement”
	  	4.23
	 “Additional Proceeds Loan”
	  	4.09
	 “Additional Proceeds Loan Guarantor”
	  	4.24
	 “Affiliate Proceeds Loan Obligor”
	  	10.02
	 “Affiliate Proceeds Loan Obligor Accession”
	  	10.02
	 “Affiliate Proceeds Loan Obligor Guarantee”
	  	10.02
	 “Affiliate Transaction”
	  	4.11
	 “Asset Disposition Offer”
	  	3.11
	 “Asset Disposition Offer Amount”
	  	3.11
	 “Asset Disposition Offer Period”
	  	3.11
	 “Asset Disposition Purchase Date”
	  	3.11
	 “Authentication Order”
	  	2.02
	 “Change in Tax Law”
	  	3.09
	 “Change of Control Offer”
	  	4.14
	 “Change of Control Purchase Price”
	  	4.14
	 “Change of Control Purchase Date”
	  	4.14
	 “Claim”
	  	13.01
	 “Claim Amount”
	  	13.01
	 “Covenant Defeasance”
	  	8.03
	 “cross acceleration provision”
	  	6.01
	 “Dollar Paying Agent”
	  	2.03
	 “Escrow Termination Date”
	  	3.08
	 “Euro Paying Agent”
	  	2.03
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.10
	 “Fold-In Collateral”
	  	4.27
	 “Fold-In Collateral Documents”
	  	4.27
	 “Initial Reporting Standard”
	  	4.03
	 “Instructing Group Consent”
	  	9.03
	 “Investment Grade Status Period”
	  	4.20
	 “Legal Defeasance”
	  	8.02
	 “Other Asset Disposition Indebtedness”
	  	3.11
	 “Net Proceeds”
	  	13.01
	 “New Reporting Standard”
	  	4.03
	 “Note Guarantee”
	  	4.27
	 “Note Guarantors”
	  	4.27
	 “Paying Agent”
	  	2.03
	 “payment default”
	  	6.01
	 “Payor”
	  	4.19
	 “Principal Obligations”
	  	7.12
	 “Register”
	  	2.03
	 “Registered Agent”
	  	12.09
	 “Registrar”
	  	2.03
	 “Regular Record Date”
	  	2.04
	 “Reinstatement Date”
	  	4.19
	 “Release”
	  	3.08
	 “Relevant Taxing Jurisdiction”
	  	4.19
	 “Restricted Payments”
	  	4.07
	 “Special Mandatory Redemption”
	  	3.08

  
 46 

			
	 Term
	  	 Defined in
Section

		
	 “Special Mandatory Redemption Date”
	  	3.08
	 “Successor Company”
	  	5.01
	 “Taxes”
	  	4.19
	 “Tax Redemption Date”
	  	3.09
	 “Ziggo Group Assumption”
	  	4.27

 Section 1.03 Rules of Construction 

Unless the context otherwise requires: 
  

	 	(1)	a term has the meaning assigned to it; 

  

	 	(2)	an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS; 

  

	 	(3)	“or” is not exclusive; 

  

	 	(4)	words in the singular include the plural, and in the plural include the singular; 

  

	 	(5)	“will” shall be interpreted to express a command; 

  

	 	(6)	provisions apply to successive events and transactions; and 

  

	 	(7)	references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of successor sections or rules adopted by the SEC from time to time. 

ARTICLE 2. 
 THE NOTES 

Section 2.01 Form and Dating 
 (a)
Global Notes. Dollar Notes offered and sold in reliance on Rule 144A shall be issued initially in the form of one or more Dollar 144A Global Notes, duly executed by the Issuer, and authenticated by the Trustee or its Authenticating Agent as
hereinafter provided. Dollar Notes offered and sold in reliance on Regulation S shall be issued initially in the form of one or more Dollar Regulation S Global Notes, duly executed by the Issuer and authenticated by the Trustee or its Authenticating
Agent as hereinafter provided. Euro Notes offered and sold in reliance on Rule 144A shall be issued initially in the form of one or more Euro 144A Global Notes, duly executed by the Issuer, and authenticated by the Trustee or its Authenticating
Agent as hereinafter provided. Euro Notes offered and sold in reliance on Regulation S shall be issued initially in the form of one or more Euro Regulation S Global Notes, duly executed by the Issuer and authenticated by the Trustee or its
Authenticating Agent as hereinafter provided. Each Global Note shall represent such aggregate principal amount of the outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of
outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby shall from time to time be reduced or increased, as appropriate, by the Registrar, the relevant Paying Agent or the
Trustee to reflect exchanges, repurchases, redemptions and transfers of interests therein, in accordance with the terms of this Indenture. 

The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and the Issuer and
the Trustee, by their execution 

  
 47 

 
and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of
this Indenture, the provisions of this Indenture shall govern and be controlling. 
 Ownership of interests in the Global Notes will be
limited to Participants and Indirect Participants. Book-Entry Interests in the Global Notes will be shown on, and transfers thereof will be effected only through, records maintained in book-entry form by the Depositary, the Common Depositary, Euroclear or Clearstream and their respective Participants. The Applicable Procedures shall be applicable to
Book-Entry Interests in Global Notes. 
 Except as set forth in Section 2.07(a), the Global
Notes may be transferred, in whole and not in part, only to a nominee or a successor of the Depositary, Euroclear or Clearstream, as applicable. 

(b) Definitive Registered Notes. Definitive Registered Notes issued upon transfer of a
Book-Entry Interest or a Definitive Registered Note, or in exchange for a Book-Entry Interest or a Definitive Registered Note, shall be issued in accordance with this
Indenture. 
 (c) Book-Entry Provisions. Neither Participants nor Indirect Participants shall
have any rights either under this Indenture or under any Global Note held on their behalf by the Depositary, Euroclear or Clearstream. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any Agent from giving
effect to any written certification, proxy or other authorization furnished by the Depositary, Euroclear or Clearstream or impair, as between the Depositary, Euroclear or Clearstream and their respective Participants, the operation of customary
practices of the Depositary, Euroclear or Clearstream governing the exercise of the rights of an owner of a beneficial interest in any Global Note. 

(d) Note Forms. The Global Notes and the Definitive Registered Notes shall be issuable only in registered form, substantially in
the forms set forth as Exhibit A and Exhibit B hereto, respectively. The Euro Notes shall be issued without coupons and only in denominations of at least €100,000 and in integral multiples of €1,000 in excess thereof. The
Dollar Notes shall be issued without coupons and only in denominations of at least $200,000 and in integral multiples of $1,000 in excess thereof. 

(e) Additional Notes. Subject to the restrictions contained in Section 4.09, from time to time after the Issue Date the
Issuer may issue Additional Notes under this Indenture. Any Additional Notes issued as provided for herein will be treated as a single class and as part of the same series as the Initial Notes for all purposes (including voting) under this
Indenture. 
 (f) Dating. Each Note shall be dated the date of its authentication. 

Section 2.02 Execution and Authentication 

At least one Officer of the Issuer must sign the Notes for such Issuer by manual or facsimile signature. 

If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated or at any time thereafter, the Note
will nevertheless be valid. 
 A Note will not be valid until authenticated by the manual signature of the Authenticating Agent. The
signature will be conclusive evidence that the Note has been authenticated under this Indenture. 
 The Authenticating Agent shall
authenticate the Euro Notes on the Issue Date in an aggregate principal amount of €400,000,000 and the Dollar Notes on the Issue Date in an 

  
 48 

 
aggregate principal amount of $400,000,000, upon receipt of an authentication order signed by at least one Officer of the Issuer directing the Authenticating Agent to authenticate the Notes and
certifying that all conditions precedent to the issuance of the Notes contained herein have been complied with (an “Authentication Order”). The Authenticating Agent shall authenticate Additional Notes upon receipt of an
Authentication Order relating thereto. Each Note shall be dated the date of its authentication. 
 The Trustee may authenticate Notes as the
Issuer’s Authenticating Agent. The Trustee may appoint an additional Authenticating Agent or Agents acceptable to the Issuer to authenticate Notes. Unless limited by the terms of such appointment, an Authenticating Agent may authenticate Notes
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such Authenticating Agent. Such Authenticating Agent shall have the same rights as the Trustee in any dealings hereunder
with any of the Issuer’s Affiliates. 
 Notes authenticated by an Authenticating Agent shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if authenticated hereunder by the Trustee, and every reference in this Indenture to the authentication and delivery of Notes by the Trustee or the Trustee’s certificate of
authentication shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be subject to acceptance by the Issuer and shall at all times be a corporation organized and
doing business under, or licensed to do business pursuant to, the laws of the United States of America (including any State thereof or the District of Columbia) or a jurisdiction in the European Union and authorized under such laws to act as
Authenticating Agent, subject to supervision or examination by governmental authorities, if applicable. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 2.02, such
Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section 2.02. 
 Any
corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any
corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the corporate agency or corporate trust business of an Authenticating
Agent, shall continue to be an Authenticating Agent; provided that such corporation shall be otherwise eligible under this Section 2.02, without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice of resignation to the Trustee and
the Issuer. Each of the Trustee and the Issuer may at any time terminate the agency of an Authenticating Agent by giving written notice of the termination to that Authenticating Agent and the Issuer or the Trustee, as the case may be. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time any Authenticating Agent ceases to be eligible in accordance with the provisions of this Section 2.02, the Trustee may appoint a successor Authenticating Agent
acceptable to the Issuer. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all of the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an
Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 2.02. 

The Issuer agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section 2.02.

 The initial Authenticating Agents shall be Deutsche Bank Trust Company Americas in respect of the Dollar Notes and Deutsche Bank
Luxembourg S.A. in respect of the Euro Notes. 

  
 49 

 If an Authenticating Agent is appointed with respect to the Notes pursuant to this
Section 2.02, the Notes may have endorsed thereon, in addition to or in lieu of the Trustee’s certification of authentication, an alternative certificate of authentication in the following form: 

“This is one of the Notes referred to in the within-mentioned Indenture. 

 

			
	[NAME OF AUTHENTICATING AGENT], as Authenticating Agent

		
	By:	 	  

		 	Authorized Signatory”

 Section 2.03 Registrar and Paying Agent 

The Issuer will maintain one or more paying agents (each, a “Paying Agent”) for the Notes in each of (a) London,
England for the Euro Notes (the “Euro Paying Agent”) and (b) the Borough of Manhattan, City of New York for the Dollar Notes (the “Dollar Paying Agent”). If, after the Issue Date, the relevant Paying Agent
becomes obliged to withhold or deduct tax in connection with any payment made by it in relation to the Notes, the Issuer will also maintain such office or agency in another member state of the European Union (including any country which becomes a
member state of the European Union after the Issue Date) that is not obliged to withhold or deduct tax pursuant to European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the European Council of Economics and
Finance Ministers (“ECOFIN”) meeting of November 26-27, 2000 or any law implementing or complying with, or introduced in order to conform to, such Directive. 

The Issuer will also maintain one or more registrars (each, a “Registrar”). The Issuer will also maintain a transfer agent.
The initial Registrar for the Euro Notes will be Deutsche Bank Luxembourg S.A. in Luxembourg and the initial Registrar for the Dollar Notes will be Deutsche Bank Trust Company Americas. Each Registrar will maintain a register for the Dollar Notes
and the Euro Notes, respectively (the “Register”) on behalf of the Issuer for so long as the Notes remain outstanding reflecting ownership of Definitive Registered Notes outstanding from time to time; the Paying Agents will make
payments on behalf of the Issuer and the transfer agent will facilitate transfer of Notes on behalf of the Issuer. In the event that the Notes are no longer listed, the Issuer or its agent will maintain a register reflecting ownership of the Notes.

 The parties hereto acknowledge that the Issuer has appointed Deutsche Bank AG, London Branch, at Winchester House, 1 Great Winchester
Street, London EC2N 2DB, United Kingdom, as the Euro Paying Agent. The Issuer acknowledges that Deutsche Bank AG, London Branch has accepted such appointment. The parties hereto acknowledge that the Issuer has appointed Deutsche Bank Trust Company
Americas, at 60 Wall Street- 16th Floor, New York NY 10005, as Dollar Notes Paying Agent, Registrar and Transfer Agent. The Issuer acknowledges that Deutsche Bank Trust Company Americas has accepted such appointment. In addition, the Issuer has
appointed Deutsche Bank Luxembourg, S.A., at 2 Boulevard Konrad Adenauer, L-115 Luxembourg, as Euro Notes Registrar and Transfer Agent and acknowledge that Deutsche Bank Luxembourg S.A. has accepted such appointment. So long as Deutsche Bank AG,
London Branch, Deutsche Bank Trust Company Americas and Deutsche Bank Luxembourg S.A. serve in such capacities, Section 7.07 shall apply to them as if they were Trustee hereunder. 

The Issuer may appoint one or more additional Paying Agents and the term “Paying Agent” shall include any such additional
Paying Agent, as applicable. Upon notice to the Trustee, the Issuer may change any Paying Agent, Registrar or transfer agent and the Issuer may act as the Paying Agent; provided, however, that in no event may an Issuer act as Paying Agent or
appoint a Paying Agent in any member state of the European Union where the Paying Agent would be obliged to withhold or deduct tax in connection with any payment made by it in relation to the Notes unless the Paying Agent would be so obliged if it
were located in all other member states. 

  
 50 

 The Issuer shall notify the Trustee of the name and address of any Agent appointed after the
Issue Date. 
 Any Notice to be given under this Indenture or under the Notes by the Trustee or the Issuer to the Holders shall be mailed by
first-class mail to each Holder of Notes at their address as it appears at the time of such mailing in the Register. 

Section 2.04 Holders to Be Treated as Owners; Payments of Interest 

(a) Except as otherwise ordered by a court of competent jurisdiction or required by applicable law, the Issuer, the Paying Agents, the
Registrar, the Trustee and any agent of the Issuer, any Paying Agent, the Registrar or the Trustee shall deem and treat the Holder of a Note as the absolute owner of such Note for the purpose of receiving payment of or on account of the principal,
premium or interest on such Note and for all other purposes (including voting and consents and enforcement of the Note Security Documents); and neither the Issuer, any Paying Agent, the Registrar, the Trustee nor any agent of the Issuer, any Paying
Agent, the Registrar or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effective to satisfy and discharge
the liability for moneys payable upon any Note. 
 (b) Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee
or the Agents from giving effect to any written certification, proxy or other authorization furnished by the Depositary, Euroclear or Clearstream or impair, as between the Depositary, Euroclear or Clearstream or their respective nominees, the
Participants or any other person, the operation of customary practices of such persons governing the exercise of the rights of a Holder. 

(c) A Holder of a Note at the close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to
receive the interest payable on such Interest Payment Date notwithstanding any transfer or exchange of such Note subsequent to the Regular Record Date and prior to such Interest Payment Date, except if and to the extent the Issuer shall default in
the payment of the interest due on such Interest Payment Date, in which case such defaulted interest shall be paid in accordance with Section 2.13. The term “Regular Record Date” as used with respect to any Interest Payment
Date for the Notes shall mean the date specified as such in the Notes. 
 (d) The Issuer shall on the Business Day prior to the day on which
the Paying Agent is to make a payment, procure that the bank effecting payment for it confirms by fax or tested SWIFT MT100 message to the Paying Agent the payment instructions relating to such payment. For the avoidance of doubt, the Paying Agent
and the Trustee shall be held harmless and have no liability with respect to payments or disbursements to be made by the Paying Agent and Trustee (i) for which payment instructions are not made or that are not otherwise deposited by the
respective times set forth in this Article 2; and (ii) until they have confirmed receipt of funds sufficient to make the relevant payment. 

Section 2.05 Paying Agent to Hold Money 

Each Paying Agent shall hold for the benefit of the Holders or the Trustee all money received by the Paying Agent for the payment of principal,
premium, interest or Additional Amounts on the Notes (whether such money has been paid to it by the Issuer or any other obligor on the Notes), and the Issuer and the Paying Agent shall notify the Trustee of any Default by the Issuer (or any other
obligor on the Notes) in making any such payment. For the avoidance of doubt, each Paying Agent acts as agent and not trustee under this 

  
 51 

 
Indenture. Money held by a Paying Agent need not be segregated (other than when an Issuer acts as a Paying Agent), except as required by law, and in no event shall any Paying Agent be liable for
any interest on any money received by it hereunder. The Issuer at any time may require each Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may, if such a Default has occurred and is
continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, the relevant Paying Agent shall have no further liability for the money delivered to the
Trustee. 
 Section 2.06 Holder Lists 

The Registrar will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of all Holders. If the Trustee is not the Registrar and the Registrar maintains such a list on behalf of the Issuer, the Issuer will furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such other times as the
Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders. 

Section 2.07 Transfer and Exchange 

(a) Transfer and Exchange of Global Notes. 

(1) A Dollar Global Note may not be transferred except as a whole by the Depositary to a nominee of the Depositary, by a
nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 

(2) A Euro Global Note may not be transferred except as a whole by a Common Depositary or a nominee of such Common Depositary,
by a Common Depositary or a nominee of such Common Depositary to such Common Depositary or to another nominee or Common Depositary or any such nominee to a successor of a Common Depositary or a nominee thereof. 

(3) All Dollar Global Notes and Euro Global Notes, respectively, will be exchanged by the Issuer for Dollar Definitive
Registered Notes and Euro Definitive Registered Notes, respectively: 
 (A) if the Depositary, in respect of the Dollar
Global Notes, or the Common Depositary, in respect of the Euro Global Notes, notifies the Issuer that it is unwilling or unable to continue to act as depositary and a successor depositary is not appointed within 120 days; 

(B) in whole, but not in part, if the Issuer or the Depositary, in respect of the Dollar Global Notes, and/or Euroclear or
Clearstream, in respect of the Euro Global Notes, so request following an Event of Default; or 
 (C) if the Holder of a
Book-Entry Interest requests such exchange in writing delivered through the Depositary, in respect of the Dollar Global Notes, or through Euroclear and/or Clearstream, in respect of the Euro Global Notes, following an Event of Default. 

Upon the occurrence of any of the preceding events in clauses (A) through (C) above, the Issuer shall issue or cause to be issued Definitive
Registered Notes in such names as the Depositary, Euroclear and/or Clearstream, as applicable, shall instruct the Trustee and such transfer or exchange shall be recorded in the applicable Register. 

(4) Global Notes may also be exchanged or replaced, in whole or in part, as provided in Section 2.08 and
Section 2.11. Every Note authenticated and 

  
 52 

 
delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to Section 2.08 or Section 2.11, shall be authenticated and delivered in the form of, and shall
be, a Global Note. A Global Note may not be exchanged for another Note (including a Definitive Registered Note), other than as provided in this Section 2.07(a). 

(b) General Provisions Applicable to Transfers and Exchanges of the Notes. Dollar Book-Entry Interests cannot be exchanged for, or
transferred to Persons who take delivery thereof in the form of, Euro Book-Entry Interests or Euro Definitive Registered Notes. Euro Book-Entry Interests cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of,
Dollar Book-Entry Interests or Dollar Definitive Registered Notes. In all other cases, the transfer and exchange of Book-Entry Interests shall be effected through the Depositary, Euroclear or Clearstream in accordance with the provisions of this
Indenture and the Applicable Procedures. Transfers of Book-Entry Interests in the Global Notes (other than transfers of Book-Entry Interests in connection with which the
transferor takes delivery thereof in the form of a Book-Entry Interest in the same Global Note) shall require compliance with this Section 2.07(b), as well as one or more of the other following
subparagraphs of this Section 2.07, as applicable. 
 In connection with all transfers and exchanges of
Book-Entry Interests (other than transfers of Book-Entry Interests in connection with which the transferor takes delivery thereof in the form of a Book-Entry Interest in the same Global Note), the Trustee and the relevant Paying Agent must receive: (i) a written order from a Participant or an Indirect Participant given to the Depositary, Euroclear or
Clearstream in accordance with the Applicable Procedures directing the Depositary, Euroclear or Clearstream to debit from the transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a written order from a Participant or an Indirect Participant given to the Depositary, Euroclear or Clearstream in accordance with the Applicable
Procedures directing the Depositary, Euroclear or Clearstream to credit or cause to be credited a Book-Entry Interest in another Global Note in an amount equal to the
Book-Entry Interest to be transferred or exchanged; and (iii) instructions given in accordance with the Applicable Procedures containing information regarding the Participants’ accounts to be debited
with such decrease and credited with such increase, as applicable. 
 In connection with a transfer or exchange of a Book-Entry Interest for a Definitive Registered Note, the relevant Paying Agent and the Registrar must receive: (i) a written order from a Participant or an Indirect Participant given to the Depositary,
Euroclear or Clearstream in accordance with the Applicable Procedures directing the Depositary, Euroclear or Clearstream to debit from the transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a written order from a Participant directing the Depositary, Euroclear or Clearstream to cause to be issued a Definitive Registered Note in an amount
equal to the Book-Entry Interest to be transferred or exchanged; and (iii) instructions given by the Depositary, Euroclear or Clearstream to the Registrar containing information regarding the Person in
whose name such Definitive Registered Note shall be registered to effect the transfer or exchange referred to above. 
 In connection with
any transfer or exchange of Definitive Registered Notes, the Holder of such Notes shall present or surrender to the Registrar the Definitive Registered Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to
the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, in connection with a transfer or exchange of a Definitive Registered Note for a Book-Entry Interest, the
Trustee and the relevant Paying Agent must receive (i) a written order directing the Depositary Euroclear or Clearstream to credit the account of the transferee in an amount equal to the Book-Entry
Interest to be transferred or exchanged and (ii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant’s account to be credited with such increase. 

  
 53 

 Upon satisfaction of all of the requirements for transfer or exchange of Book-Entry Interests in Global Notes contained in this Indenture, the relevant Paying Agent, the Registrar or the Trustee as specified in this Section 2.07, shall endorse the relevant Global Note(s) with any
increase or decrease and instruct the Depositary, Euroclear or Clearstream to reflect such increase or decrease in its systems. 

(c) Transfer of Book-Entry Interests in a Regulation S Global Note to Book-Entry Interests in a 144A Global Note. A Book-Entry Interest in a Regulation S Global Note may be transferred to a Person who takes delivery thereof in the form of a Book-Entry Interest in a 144A Global Note, only if the transfer complies with the requirements of Section 2.07(b) above and the Registrar receives a certificate to the effect set forth in Exhibit C
hereto, including the certification in item (1) thereof. 
 Upon the receipt of such certificate and the orders and instructions
required by Section 2.07(b), the Trustee shall (i) instruct the Common Depositary or the Depositary to decrease Schedule A to such Regulation S Global Note and increase Schedule A to such 144A Global Note by the principal
amount of such transfer, and (ii) instruct the Common Depositary or Depositary, as applicable, to credit and debit the Participants’ accounts in accordance with the certificate and the procedures of Euroclear, Clearstream and DTC as
applicable. 
 (d) Transfer of Book-Entry Interests in a 144A Global Note to Book-Entry Interests in a Regulation S Global Note. A Book-Entry Interest in a 144A Global Note may be transferred to a Person who takes delivery thereof in the form of a Book-Entry Interest in a Regulation S Global Note only if the transfer complies with the requirements of Section 2.07(b) above and the Trustee receives a certificate from the Holder of such Book-Entry Interest in the form of Exhibit C hereto, including the certifications in item (2) thereof. 

Upon the receipt of such certificate and the orders and instructions required by Section 2.07(b), the Trustee shall (i) instruct the
Common Depositary or the Depositary to increase Schedule A to such Regulation S Global Note and decrease Schedule A to such 144A Global Note by the principal amount of such transfer, and (ii) instruct the Common Depositary or
Depositary, as applicable, to credit and debit the Participants’ accounts in accordance with the certificate and the procedures of Euroclear, Clearstream and DTC as applicable. 

(e) Transfer of Book-Entry Interests in Global Notes to Definitive Registered Notes.
Book-Entry Interests in a Dollar Global Note cannot be transferred to persons who take delivery thereof in the form of a Euro Definitive Registered Note. Book-Entry Interests in a Euro Global Note cannot be transferred to persons who take
delivery thereof in the form of a Dollar Definitive Registered Note. A Holder of a Book-Entry Interest in a Global Note may transfer such Book-Entry Interest to a Person
who takes delivery thereof in the form of a Definitive Registered Note if the transfer complies with the requirements of Section 2.07(a) and Section 2.07(b) above and: 

(1) in the case of a transfer by a Holder of a Book-Entry Interest in a Global Note to
a QIB in reliance on Rule 144A, the Trustee shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (1) thereof; or 

(2) in the case of a transfer by a Holder of a Book-Entry Interest in a Global Note in
reliance on Regulation S, the Trustee shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (2) thereof. 

Upon receipt of such certificates and the orders and instructions required by Section 2.07(b), the Trustee shall (i) instruct the
Common Depositary or the Depositary to decrease 

  
 54 

 
Schedule A to the relevant Global Note by the principal amount of such transfer; (ii) instruct the Common Depositary or Depositary, as applicable, to credit and debit the
Participants’ accounts in accordance with the certificate and the procedures of Euroclear, Clearstream and DTC as applicable; and (iii) deliver to the Registrar the instructions received by it that contain information regarding the Person
in whose name Definitive Registered Notes shall be registered to effect such transfer. The Registrar shall record the transfer in the Register and shall cause all Definitive Registered Notes issued in connection with a transfer pursuant to this
Section 2.07(e) to bear the Private Placement Legend. 
 The Issuer shall issue and, upon receipt of an Authentication Order from the
Issuer in accordance with Section 2.02, the Authenticating Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of
Book-Entry Interests so transferred and registered and in the names set forth in the instructions received by the Registrar. 

(f) Transfer of Definitive Registered Notes to Book-Entry Interests in Global Notes.
Dollar Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form of Book-Entry Interests in a Euro Global Note. Euro Definitive Registered Notes cannot be transferred to persons who take delivery thereof
in the form of Book-Entry Interests in a Dollar Global Note. Any Holder of a Definitive Registered Note may transfer such Definitive Registered Note to a Person who takes delivery thereof in the form of a
Book-Entry Interest in a Global Note only if: 
 (1) in the case of a transfer
by a Holder of Definitive Registered Note to a person who takes delivery thereof in the form of a Book-Entry Interest in a Regulation S Global Note, the Registrar shall have received a certificate to the
effect set forth in Exhibit C hereto, including the certifications in item (2) thereof; 
 (2) in the case
of a transfer by a Holder of Definitive Registered Notes to a QIB in reliance on Rule 144A who takes delivery thereof in the form of a Book-Entry Interest in a Rule 144A Global Note, the Registrar shall have
received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (1) thereof; 
 Upon
satisfaction of the foregoing conditions, the Registrar shall (i) deliver the Definitive Registered Notes to the Trustee for cancellation pursuant to Section 2.12; (ii) record such transfer on the Register; (iii) instruct the
Common Depositary or the Depositary to deliver (A) in the case of a transfer pursuant to Section 2.07(f)(1), a Dollar Regulation S Global Note or a Euro Regulation S Global Note, as the case may be, and (B) in the case of a transfer
pursuant to Section 2.07(f)(2), a Dollar 144A Global Note or a Euro 144A Global Note, as the case may be; (iv) endorse Schedule A to such Global Note to reflect the increase in principal amount resulting from such transfer; and
(v) thereafter, return the Global Notes to the Common Depositary or the Depositary, together with all information regarding the Participant accounts to be credited in connection with such transfer. 

(g) Exchanges of Book-Entry Interests in Global Notes for Definitive Registered Notes.
Euro Book-Entry Interests cannot be exchanged for Dollar Definitive Registered Notes. Dollar Book-Entry Interests cannot be exchanged for Euro Definitive Registered Notes. A Holder of a Book-Entry Interest
in a Global Note may exchange such Book-Entry Interest for a Definitive Registered Note if the exchange complies with the requirements of Section 2.07(a) and Section 2.07(b) above and the Trustee
receives the following: 
 (1) if the Holder of such Book-Entry Interest in a
Global Note proposes to exchange such Book-Entry Interest for a Regulation S Definitive Registered Note, a certificate from such Holder in the form of Exhibit D hereto, including the certifications in
items (a) thereof; 
 (2) if the Holder of such Book-Entry Interest in a Global
Note proposes to exchange such Book-Entry Interest for a 144A Definitive Registered Note, a certificate from such Holder in the form of Exhibit D hereto including the certifications in item
(a) thereof. 

  
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 [Upon receipt of such certificates and the orders and instructions required by
Section 2.07(b), the Trustee shall (i) instruct the Common Depositary or the Depositary to deliver, or cause to be delivered, the relevant Global Note to the Trustee for endorsement and upon receipt thereof, decrease Schedule A to
the relevant Global Note by the principal amount of such exchange; (ii) thereafter, return the Global Note to the Common Depositary or the Depositary, together with all information regarding the Participant accounts to be debited in connection
with such exchange; and (iii) deliver to the Registrar instructions received by it that contain information regarding the Person in whose name Definitive Registered Notes shall be registered to effect such exchange. The Registrar shall record
the exchange in the Register and shall cause all Definitive Registered Notes issued in exchange for a Book-Entry Interest in a Global Note pursuant to this Section 2.07(g) to bear the Private Placement
Legend.] 
 The Issuer shall issue and, upon receipt of an Authentication Order from the Issuer in accordance with Section 2.02, the
Authenticating Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of Book-Entry Interests so exchanged and registered and
in the names set forth in the instructions received by the Registrar. 
 (h) Exchanges of Definitive Registered Notes for Book-Entry Interests in Global Notes. Dollar Definitive Registered Notes cannot be exchanged for Book-Entry Interests in a Euro Global Note. Euro Definitive Registered Notes cannot be exchanged for Book-Entry
Interests in a Dollar Global Note. Any Holder of a Definitive Registered Note may exchange such Note for a Book-Entry Interest in a Global Note if such exchange complies with Section 2.07(b) above and the
Registrar receives the following documentation: 
 (1) if the Holder of a 144A Definitive Registered Note proposes to
exchange such Note for a Book-Entry Interest in a 144A Global Note, a certificate from such Holder in the form of Exhibit D hereto, including the certifications in item (b) thereof; or 

(2) if the Holder of a Regulation S Definitive Registered Notes proposes to exchange such Notes for a Book-Entry Interest in a Regulation S Global Note, a certificate from such Holder in the form of Exhibit D hereto, including the certifications in item (b) thereof. 

Upon satisfaction of the foregoing conditions, the Common Depositary or Depositary shall (i) cancel such Note pursuant to
Section 2.12; (ii) request that the Registrar record such exchange on the Register; (iii) endorse Schedule A to such Global Note to reflect the increase in principal amount resulting from such exchange. 

  
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 (i) Transfer of Definitive Registered Notes for Definitive Registered Notes. Dollar
Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form of Euro Definitive Registered Notes. Euro Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form of Dollar
Definitive Registered Notes. Any Holder of a Definitive Registered Note may transfer such Note to a Person who takes delivery thereof in the form of Definitive Registered Notes if the transfer complies with Section 2.07(b) above and the
Registrar receives the following additional documentation: 
 (1) in the case of a transfer by a Holder pursuant to
Regulation S, the Registrar shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (2) thereof; or 

(2) in the case of a transfer by a Holder of Definitive Registered Notes to a QIB in reliance on Rule 144A, the Registrar shall
have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (1) thereof. 

Upon the receipt of any Definitive Registered Note, the Registrar shall cancel such Note pursuant to Section 2.12 and complete and
deliver to the Issuer (i) in the case of a transfer pursuant to Section 2.07(i)(1), a Regulation S Definitive Registered Note and (ii) in the case of a transfer pursuant to Section 2.07(i)(2), a 144A Definitive Registered Note.
The Registrar shall cause all Definitive Registered Notes issued in exchange in connection with a transfer pursuant to this Section 2.07(i) to bear the Private Placement Legend. 

The Issuer shall issue and, upon receipt of an Authentication Order from the Issuer in accordance with Section 2.02, the Authenticating
Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of Definitive Registered Notes so transferred and registered in the names set forth in the instructions
received by the Registrar. 
 (j) Legends. 

(1) Private Placement Legend. The following legend shall appear on the face of all Notes issued under this Indenture,
unless the Issuer determines otherwise in compliance with applicable law: 
 “THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR OTHER SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 

THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS
DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT, (2) AGREES
ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN THE CASE OF
RULE 144A NOTES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATES OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF SUCH NOTE)] [IN THE CASE OF REGULATION S NOTES:
40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S],
ONLY (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS 

  
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BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT, TO A
PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE U.S. SECURITIES ACT, OR (E) PURSUANT
TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO REQUIRE THE
DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

BY ACCEPTING THIS NOTE (OR AN INTEREST IN THE NOTE REPRESENTED HEREBY) EACH ACQUIRER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND
AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT HOLDS THIS NOTE OR ANY INTEREST HEREIN IT
WILL NOT BE, AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)), SUBJECT TO THE PROVISIONS
OF PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), APPLIES, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN
ASSETS” (WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3-101 (AS MODIFIED BY SECTION 3(42) OF ERISA)), BY REASON OF SUCH AN EMPLOYEE BENEFIT PLAN’S AND/OR PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “BENEFIT PLAN
INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN WHICH IS SUBJECT TO ANY U.S. FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE PROHIBITED TRANSACTION
PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND NO PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN INVESTOR OR SUCH A
GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, OR (B) ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF
ERISA AND/OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, A NON-EXEMPT VIOLATION OF ANY SIMILAR LAWS); (2) NEITHER THE ISSUER NOR ANY OF ITS AFFILIATES IS A “FIDUCIARY” (WITHIN
THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE CODE OR, WITH RESPECT TO A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, ANY DEFINITION OF 

  
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“FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO THE PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THIS NOTE, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF
ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THIS NOTE, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION WITH THIS NOTE
AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS NOTE; AND (3) IT WILL NOT SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY INTEREST HEREIN OTHERWISE THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS,
WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE.” 
 The following legend shall be
included to the extent applicable: 
 “THE FOLLOWING INFORMATION IS SUPPLIED SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES. THIS NOTE WAS
ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”) WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND THIS LEGEND IS REQUIRED BY SECTION 1275(c) OF THE CODE.” 

(2) Euro Global Note Legend. Each Euro Global Note shall bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE COMMON DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL NOTE MAY BE TRANSFERRED OR EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE; (II)
THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE; AND (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE.” 

(3) Dollar Global Note Legend. Each Dollar Global Note shall bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL NOTE MAY BE TRANSFERRED OR EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE; (II) THE TRUSTEE
MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE; AND (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE. 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITARY TO A 

  
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NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE
OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 
 (k)
Cancellation. At such time as all Book-Entry Interests have been exchanged for Definitive Registered Notes or all Global Notes have been redeemed or repurchased, the Global Notes shall be returned to
the Trustee for cancellation in accordance with Section 2.12. 
 (l) General Provisions Relating to Registration of
Transfers and Exchanges. To permit registration of transfers and exchanges, the Issuer shall execute and the Authentication Agent shall authenticate Global Notes and Definitive Registered Notes upon the Issuer’s order in accordance with the
provisions of Section 2.02. 
 (1) No service charge shall be made to a Holder for any registration of transfer or
exchange, but the Issuer may require payment of a sum sufficient to cover any taxes, duties or governmental charge payable in connection therewith (other than any such taxes, duties or governmental charge payable upon exchange or transfer pursuant
to Sections 2.11, 4.10, 4.14 and 9.05). 
 (2) All Global Notes and Definitive Registered Notes issued upon any registration
of transfer or exchange of Global Notes or Definitive Registered Notes shall be the valid obligations of the Issuer, evidencing the same debt and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Registered Notes
surrendered upon such registration of transfer or exchange. 
 (3) The Issuer shall not be required to register the transfer
of or, to exchange, Definitive Registered Notes (A) for a period beginning at the opening of business 15 calendar days before any Redemption Date and ending at the close of business on the Redemption Date; (B) for a period beginning at the
opening of business 15 calendar days immediately prior to the date fixed for selection of Notes to be redeemed in part, and ending at the close of business on the date on which such Notes are selected; (C) for a period of 15 calendar days
before any Regular Record Date with respect to any Interest Payment Date; or (D) which the Holder has tendered (and not withdrawn) for repurchase in connection with a Change of Control Offer or an Asset Disposition Offer. 

(4) The Issuer, the Trustee, the Registrar and the Paying Agents will be entitled to treat the registered Holder of a Note as
the owner thereof for all purposes. 
 (5) As soon as practicable after delivering any Global Note or Definitive Registered
Note, the Registrar shall supply to the Trustee and the Agents all relevant details of the Notes delivered. 
 (6) The Issuer
shall not be required to register the transfer or exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

  
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 The Trustee shall have no responsibility for any actions or omissions of the Depositary, Common
Depositary, Euroclear or Clearstream. 
 Section 2.08 Replacement Notes 

(a) If any mutilated Note is surrendered to a Paying Agent, the Registrar or the Trustee or the Issuer and the Trustee receives evidence to its
satisfaction of the destruction, loss or theft of any Note, the Issuer will issue and the Authenticating Agent, upon receipt of an Authentication Order, will authenticate a replacement Note if the Trustee’s and/or the Authenticating
Agent’s requirements are met. If required by the Trustee or the Issuer, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the Trustee, any Agent and any
Authenticating Agent from any loss that any of them may suffer if a Note is replaced. The Issuer and the Trustee may charge for their expenses in replacing a Note, including reasonable fees and expenses of counsel. In the event any such mutilated,
lost, destroyed or stolen Note has become or is about to become due and payable, the Issuer in its discretion may pay such Note instead of issuing a new Note in replacement thereof. 

(b) The provisions of this Section 2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, lost, destroyed or stolen Notes. 
 (c) Every replacement Note issued pursuant to this
Section 2.08 is an additional obligation of the Issuer and will be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 

Section 2.09 Outstanding Notes 
 The
Notes outstanding at any time are all the Notes authenticated by the Authenticating Agent except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in
accordance with the provisions hereof, and those described in this Section 2.09 as not outstanding. Except as set forth in Section 2.10, a Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the
Note; however, Notes held by the Issuer or a Subsidiary of the Issuer shall not be deemed to be outstanding for purposes of Section 3.07(a). 

If a Note is replaced pursuant to Section 2.08, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the
replaced Note is held by a protected purchaser. 
 If the principal amount of any Note is considered paid under Section 4.01, it ceases
to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any
thereof) holds, on a Redemption Date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest. 

A mutilated Note ceases to be outstanding upon surrender of such Note and replacement thereof pursuant to Section 2.08. 

  
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 Section 2.10 Treasury Notes 

In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by
the Issuer, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer, will be considered as though not outstanding, except that for the purposes of determining whether the
Trustee will be protected in relying on any such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows are so owned will be so disregarded. 

Section 2.11 Temporary Notes 
 Until
certificates representing Notes are ready for delivery, the Issuer may prepare and the Authenticating Agent, upon receipt of an Authentication Order, will authenticate temporary Notes. Temporary Notes will be substantially in the form of
certificated Notes but may have variations that the Issuer consider appropriate for temporary Notes and as may be reasonably acceptable to the Trustee. Without unreasonable delay, the Issuer will prepare and the Trustee will authenticate definitive
Notes in exchange for temporary Notes. 
 Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

Section 2.12 Cancellation 
 The
Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel
all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled Notes. Certification of the destruction of all canceled Notes will be delivered to the Issuer. The Issuer may not issue new
Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. 
 Section 2.13 Defaulted Interest 

If the Issuer defaults in a payment of interest on the Notes, they will pay the defaulted interest in any lawful manner plus, to the
extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer will notify the Trustee in writing of
the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be
less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) will
mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

Section 2.14 CUSIP, ISIN or Common Code Number 

The Issuer in issuing the Notes may use a “CUSIP”, an “ISIN” or “Common Code” number and, if so, such
CUSIP, ISIN or Common Code number shall be included in notices of redemption or exchange as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the
CUSIP, ISIN or Common Code number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. The Issuer will promptly notify the Trustee and each Agent of any change in the
CUSIP, Common Code and/or ISIN number. 

  
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 Section 2.15 Deposit of Moneys 

One Business Day prior to each Interest Payment Date, the maturity date of the Notes, each Redemption Date and each payment date relating to an
Asset Disposition Offer or a Change of Control Offer, and on the Business Day immediately following any acceleration of the Notes pursuant to Section 6.02, the Issuer shall deposit with the relevant Paying Agent in immediately available funds
money in U.S. Dollars, in the Case of the Dollar Notes, or euros, in the case of the Euro Notes, sufficient to make cash payments, if any, due on such Interest Payment Date, maturity date, Redemption Date, the payment date relating to an Asset
Disposition or a Change of Control Offer, or Business Day, as the case may be. All such payments so made to the relevant Paying Agent, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effective to satisfy and
discharge the liability for moneys payable upon any Note. Subject to receipt of such funds by such time, each Paying Agent shall remit such payment in a timely manner on such Interest Payment Date, maturity date, Redemption Date, the payment date
relating to an Asset Disposition or a Change of Control Offer, or Business Day, as the case may be, to the Persons and in the manner set forth in paragraph (B) of the Notes. 

The rights of Holders to receive the payments of principal, premium, if any, interest, and Additional Amounts, if any, on such Global Notes
are subject to applicable procedures of the Depositary, Euroclear and Clearstream. If the due date for any payment in respect of any Global Notes is not a Business Day at the place at which such payment is due to be paid, the Holders thereof will
not be entitled to payment of the amount due until the next succeeding Business Day at such place, and will not be entitled to any further interest or other payment as a result of any such delay 

Section 2.16 Actions of Agents 
 The
rights, powers, duties and obligations and actions of each Agent under this Indenture are several and not joint or joint and several. 

ARTICLE 3. 

REDEMPTION AND PREPAYMENT 

Section 3.01 Notices to Trustee 
 If
the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 or pursuant to Section 4.14(d), they must furnish to the Trustee, at least 10 days but not more than 60 days before a Redemption Date, an
Officers’ Certificate setting forth: 
 (1) the clause of this Indenture pursuant to which the redemption shall occur;

 (2) the Redemption Date and the record date; 

(3) the principal amount of Notes to be redeemed; 

(4) the redemption price; and 

(5) the CUSIP, ISIN or Common Code numbers, as applicable. 

  
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 Section 3.02 Selection of Notes to Be Redeemed or Purchased; Notices 

If less than all of the Euro Notes or the Dollar Notes, as the case may be, are to be redeemed or purchased in an offer to purchase at
any time, the Trustee will select Notes for redemption or purchase on a pro rata basis except: 
 (1) if the
Notes are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange on which the Notes are listed, as provided to it by the Issuer; or 

(2) if otherwise required by law. 

In the case of any partial redemption, selection of the Notes for redemption will be made by the Trustee on a pro rata basis (or, in the case
of Notes issued in global form, based on the procedures of the Depositary, Euroclear or Clearstream, as applicable) unless otherwise required by law or applicable stock exchange or depositary requirements, although no Euro Notes of €100,000 or
less or Dollar Notes of $200,000 or less can be redeemed in part. The Trustee will not be liable for selections made by it in accordance with this paragraph. If any Note is to be redeemed in part only, the notice of redemption relating to such Note
will state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Note. 

For Notes which are represented by Global Notes held on behalf of the Depositary, Euroclear or Clearstream, notices may be given by delivery
of the relevant notices to the Depositary, Euroclear or Clearstream for communication to entitled account Holders in substitution for the aforesaid mailing. 

Section 3.03 Notice of Redemption 

Subject to the provisions of Section 3.07, at least 10 calendar days but not more than 60 calendar days before a Redemption Date, the
Issuer will mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a Redemption Date if
the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 12. 

The notice will identify the Notes to be redeemed and will state: 
  

	 	(1)	the Redemption Date and the record date; 

  

	 	(2)	the redemption price; 

  

	 	(3)	the CUSIP, ISIN and/or Common Code number(s), if any; 

  

	 	(4)	if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the Redemption Date upon surrender of such Note, a new Note or Notes in principal amount equal to
the unredeemed portion will be issued upon cancellation of the original Note; 

  

	 	(5)	the name and address of the relevant Paying Agent; 

  

	 	(6)	that Notes called for redemption must be surrendered to the relevant Paying Agent to collect the redemption price; 

  

	 	(7)	that, unless the Issuer defaults in making such redemption payment, interest on Notes called for redemption ceases to accrue on and after the Redemption Date (or such other date specified in Section 4.14(d) to the
extent applicable); 

  

	 	(8)	the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; and 

 

	 	(9)	that no representation is made as to the correctness or accuracy of the CUSIP, ISIN and/or Common Code, if any, listed in such notice or printed on the Notes. 

  
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 At the Issuer’s request, the relevant Agent will give the notice of redemption in the
Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee and the Agents, at least 5 days prior to the date on which such notice is to be sent to the Holders or such shorter period as the Trustee
may agree, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Section 3.04 Effect of Notice of Redemption 

Once notice of redemption is mailed in accordance with Section 3.03, Notes called for redemption become irrevocably due and payable
on the Redemption Date at the redemption price; provided, however, that a notice of redemption may be conditional except as otherwise set forth in this Article 3. 

Section 3.05 Deposit of Redemption or Purchase Price 

One Business Day prior to the Redemption Date or repurchase date, the Issuer will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption or purchase price of and accrued interest on all Notes to be redeemed or repurchased on that date. The Trustee or the Paying Agent will promptly return to the Issuer any money deposited with the Trustee or the Paying
Agent by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest on, all Notes to be redeemed or purchased. 

If the Issuer complies with the provisions of the preceding paragraph, on and after the Redemption Date or repurchase date (or such other date
specified in Section 4.14(d), to the extent applicable), interest will cease to accrue on the Notes or the portions of Notes called for redemption or repurchase. If a Note is redeemed or purchased on or after an interest record date but on or
prior to the related Interest Payment Date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or repurchase is not
so paid upon surrender for redemption or repurchase because of the failure of the Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the Redemption Date or repurchase date until such principal is
paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01. 

Section 3.06 Notes Redeemed or Repurchased in Part 

Upon surrender of a Note that is redeemed in part, the Issuer will issue and, upon receipt of an Authentication Order, the Trustee or
the Authenticating Agent will authenticate for the Holder at the expense of the Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered; provided that any Euro Definitive Registered Note
shall be in a principal amount of €100,000 or an integral multiple of €1,000 in excess thereof and any Dollar Definitive Registered Note shall be in a principal amount of $200,000 or an integral multiple of $1,000 in excess thereof.

 Section 3.07 Optional Redemption 

(a) Except as set forth in Section 3.07(b), Section 3.07(d), Section 3.08, Section 3.10 and Section 4.14(d), the Notes
are not redeemable until January 15, 2020. 
 (b) At any time prior to January 15, 2020, the applicable Proceeds Loan Borrower may
instruct the Issuer to, and upon receipt of such instruction the Issuer will, redeem all, or 

  
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from time to time a part, of the Euro Notes and/or Dollar Notes upon not less than 10 nor more than 60 days’ notice, at a price equal to 100% of the principal amount thereof plus the
Applicable Premium as of, and accrued but unpaid interest and Additional Amounts, if any, to, the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest
Payment Date). 
 In each case above, any such redemption and notice may, in the discretion of the applicable Proceeds Loan Borrower or the
Issuer, be subject to satisfaction of one or more conditions precedent, including that the Issuer or any Paying Agent has received sufficient funds from the applicable Proceeds Loan Borrower to pay the full redemption price payable to the Holders on
or before the relevant Redemption Date. For the avoidance of doubt, in each case above, the Proceeds Loan Borrowers may choose to redeem each series of Notes, either together or separately. 

If the optional Redemption Date is on or after an interest record date and on or before the related Interest Payment Date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption by the Issuer. 

(c) On or after January 15, 2020, the applicable Proceeds Loan Borrower may instruct the Issuer to, and upon receipt of such instruction
the Issuer will, redeem all, or from time to time a part, of the Euro Notes and/or Dollar Notes upon not less than 10 nor more than 60 days’ notice, at the following redemption prices (expressed as a percentage of principal amount) plus accrued
and unpaid interest and Additional Amounts, if any, to the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), if redeemed during the
twelve-month period commencing on January 15 of the years set out below: 
  

									
	 Year
	  	Redemption Price	 
	 	  	Euro Notes	 	 	Dollar Notes	 
	 2020
	  	 	102.313	% 	 	 	102.938	% 
	 2021
	  	 	101.542	% 	 	 	101.958	% 
	 2022
	  	 	100.771	% 	 	 	100.979	% 
	 2023 and thereafter
	  	 	100.000	% 	 	 	100.000	% 

 In each case above, any such redemption and notice may, in the discretion of the applicable Proceeds Loan
Borrower or the Issuer, be subject to satisfaction of one or more conditions precedent, including that the Issuer or any Paying Agent has received sufficient funds from the applicable Proceeds Loan Borrower to pay the full redemption price payable
to the Holders on or before the relevant Redemption Date. For the avoidance of doubt, in each case above, the Proceeds Loan Borrowers may choose to redeem each series of Notes, either together or separately. 

If the optional Redemption Date is on or after an interest record date and on or before the related Interest Payment Date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption by the Issuer. 

Unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called for
redemption on the applicable Redemption Date. 
 (d) At any time, or from time to time, prior to January 15, 2018, the applicable
Proceeds Loan Borrower may also at its option, instruct the Issuer to, and upon receipt of such instruction the Issuer will, redeem, upon not less than 10 nor more than 60 days’ 

  
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notice, up to 40% of the principal amount of the Notes issued under this Indenture (including the principal amount of any Additional Notes) at a redemption price of 104.625% of the principal
amount of the Euro Notes and/or 105.875% of the principal amount of the Dollar Notes redeemed, plus accrued and unpaid interest and Additional Amounts, if any, to the applicable Redemption Date (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant Interest Payment Date), with the Net Cash Proceeds of one or more Equity Offerings; provided that: 

(1) at least 50% of the principal amount of each of the Euro Notes and the Dollar Notes (which includes Additional Notes, if
any) issued under this Indenture remains outstanding immediately after any such redemption; and 
 (2) the redemption occurs
not more than 180 days after the consummation of any such Equity Offering. 
 In each case above, any such redemption and notice may, in the
discretion of the applicable Proceeds Loan Borrower or the Issuer, be subject to satisfaction of one or more conditions precedent, including that the Issuer or any Paying Agent has received sufficient funds from the applicable Proceeds Loan Borrower
to pay the full redemption price payable to the Holders on or before the relevant Redemption Date. For the avoidance of doubt, in each case above, the Proceeds Loan Borrowers may choose to redeem each series of Notes, either together or separately.

 If the optional Redemption Date is on or after an interest record date and on or before the related Interest Payment Date, the accrued
and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption by the Issuer.

 (e) At the Issuer’s request, the relevant Agent will give the notice of redemption in the Issuer’s name and at its
expense; provided, however, that the Issuer has delivered to the Trustee and the Agents, at least 5 days prior to the date on which such notice is to be sent to the Holders or such shorter period as the Trustee may agree, an Officers’
Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in Section 3.03. 

(f) Any redemption pursuant to this Section 3.07 and Section 4.14(d) shall be made pursuant to the provisions of Sections 3.01
through 3.06. 
 Section 3.08 Special Mandatory Redemption 

(a) Upon the earliest of (i) the date on which there first occurs a repudiation by the Issuer of any of its obligations under the Escrow
Deed or the unenforceability of the Escrow Deed against the Issuer or any of its other creditors for any reason, (ii) the date on which any conditions to the Escrow Release could not reasonably be deemed to be capable of being satisfied and
(iii) if the Reorganization Transactions have not been completed on or before the Longstop Date (such date, the “Escrow Termination Date”), the Issuer will redeem all of the Notes (the “Special Mandatory
Redemption”) at a redemption price equal to 100% of the principal amount of the Notes plus accrued but unpaid interest (or issue price plus accreted original issue discount and accrued but unpaid interest, if applicable) and Additional
Amounts, if any, to the date of the Special Mandatory Redemption (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). Notice of the Special Mandatory Redemption will
be mailed or delivered by the Issuer, no later than the second Business Day following the Escrow Termination Date, to the Trustee (with an instruction to the Trustee to deliver the same to each Holder of the Notes) and the Escrow Agent, and will
provide that the Notes shall be redeemed on a date that is no later than the fifth Business Day after such notice is mailed or delivered (the 

  
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“Special Mandatory Redemption Date”). On the Special Mandatory Redemption Date, the Escrow Agent shall pay to the relevant Paying Agent for payment to each Holder the Special
Mandatory Redemption Price for such Holder’s Notes and, concurrently with the payment to such Holders, deliver any excess Escrowed Property (if any) to the Issuer. 

(b) If the Special Mandatory Redemption Date is on or after an interest record date and on or before the related Interest Payment Date, the
accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption by the
Issuer. 
 (c) No provisions of the Escrow Deed (including, without limitation, those relating to the release of the Escrowed Property) and,
to the extent such provisions relate to the Issuer’s obligation to redeem the Notes in a Special Mandatory Redemption, this Indenture, may be waived or modified in any manner materially adverse to the Holders without the written consent of
Holders of at least 90% in aggregate principal amount of Notes affected thereby. 
 (d) At the Issuer’s request, the relevant
Agent will give the notice of redemption in the Issuer’s name and at its expense;  provided, however, that the Issuer has delivered to the Trustee and the Agents, at least 5 days prior to the date on which such notice is to be sent
to the Holders or such shorter period as the Trustee may agree, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in Section 3.03. 

Section 3.09 Mandatory Redemption 

Except as set forth in Section 3.08 above, the Issuer is not required to make mandatory redemption or sinking fund payments with respect
to the Notes. 
 Section 3.10 Redemption for Taxation Reasons 

The applicable Proceeds Loan Borrower may instruct the Issuer to, and upon receipt of such instruction the Issuer will, redeem the Notes in
whole, but not in part, at any time upon giving not less than 10 nor more than 60 days’ notice to the Holders (which notice will be irrevocable) at a redemption price equal to 100% of the principal amount thereof, together with accrued and
unpaid interest, if any, to the date fixed for redemption (a “Tax Redemption Date”) (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), and
Additional Amounts, if any, then due and which will become due on the Tax Redemption Date as a result of the redemption or otherwise, if the Issuer or the applicable Proceeds Loan Borrower determines that, as a result of: 

(1) any change in, or amendment to, the law or treaties (or any regulations or rulings promulgated thereunder) of a Relevant
Taxing Jurisdiction affecting taxation; or 
 (2) any change in position regarding the application, administration or
interpretation of such laws, treaties, regulations or rulings (including a holding, judgment or order by a court of competent jurisdiction) (each of the foregoing in clauses (1) and (2), a “Change in Tax Law”), 

the relevant Payor is, or on the next Interest Payment Date in respect of the Notes would be, required to pay more than de minimis Additional Amounts, and
such obligation cannot be avoided by taking reasonable measures available to it (including, without limitation, by appointing a new or additional paying agent in another jurisdiction). The Change in Tax Law must become effective on or after the date
of the Offering Memorandum. Notice of 

  
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redemption for taxation reasons will be published in accordance with Section 3.03. Notwithstanding the foregoing, no such notice of redemption will be given (a) earlier than 90 days prior to
the earliest date on which the relevant Payor would be obliged to make such payment of Additional Amounts and (b) unless at the time such notice is given, such obligation to pay such Additional Amounts remains in effect. Prior to the
publication, delivery or mailing of any notice of redemption of the Notes pursuant to the foregoing, the applicable Proceeds Loan Borrower or the Issuer will deliver to the Trustee (a) an Officers’ Certificate stating that the Issuer is
entitled to effect such redemption and setting forth a statement of facts showing that the conditions precedent to its right to so redeem have been satisfied and that the relevant Payor cannot avoid the obligations to pay Additional Amounts by
taking reasonable measures available to it; and (b) an opinion of an independent tax counsel reasonably satisfactory to the Trustee to the effect that the circumstances referred to above exist. The Trustee will accept and shall be entitled to
rely on such Officers’ Certificate and opinion as sufficient evidence of the existence of satisfaction of the conditions precedent as described above, in which event it will be conclusive and binding on the Holders. 

The foregoing provisions will apply mutatis mutandis to any successor to a Payor after such successor person becomes a party to
this Indenture.  
 At the Issuer’s request, the relevant Agent will give the notice of redemption in the Issuer’s name and
at its expense; provided, however, that the Issuer has delivered to the Trustee and the Agents, at least 5 days prior to the date on which such notice is to be sent to the Holders or such shorter period as the Trustee may agree, an
Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in Section 3.03. 

Section 3.11 Offer to Purchase by Application of Excess Proceeds 

In the event that, pursuant to Section 4.10, the Issuer is required to make an offer to all Holders to purchase Notes (an
“Asset Disposition Offer”), they will follow the procedures specified below. 
 Within five Business Days of the
receipt of such notice from the Company, the Issuer will make the Asset Disposition Offer to all Holders and to the extent notified by the Company in such Notice, to all Holders of other Indebtedness of the Company, UPC NL Holdco or the Affiliate
Proceeds Loan Obligor that does not constitute Subordinated Obligations (“Other Asset Disposition Indebtedness”) to purchase the maximum principal amount of Notes and any such Other Asset Disposition Indebtedness to which the Asset
Disposition Offer applies that may be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes and the Other Asset Disposition Indebtedness plus accrued and unpaid interest to
the date of purchase, in accordance with the procedures set forth in Section 3.11 or the agreements governing the Other Asset Disposition Indebtedness, as applicable, in each case in a principal amount of €100,000 and in integral multiples
of €1,000 in excess thereof, in the case of the Euro Notes and $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes. 

To the extent that the aggregate amount of Notes and Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn
pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate purposes in any manner not prohibited by this Indenture. If the aggregate principal amount of Notes
surrendered by Holders thereof and Other Asset Disposition Indebtedness surrendered by Holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and Other Asset Disposition Indebtedness to be
purchased on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and Other Asset Disposition Indebtedness. For the purposes of calculating the principal amount of any such Indebtedness not denominated in

  
 69 

 
euro, such Indebtedness shall be calculated by converting any such principal amounts into their Euro Equivalent determined as of a date selected by the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or the Issuer that is within the Asset Disposition Offer Period. Upon completion of such Asset Disposition Offer, the amount of Excess Proceeds shall be reset at zero. The Trustee will not be liable for selections made by it in
accordance with this paragraph. 
 The Asset Disposition Offer, insofar as it relates to the Notes, will remain open for a period of
20 Business Days following its commencement, except to the extent that a longer period is required by applicable law (the “Asset Disposition Offer Period”). No later than five Business Days after the termination of the Asset
Disposition Offer Period (the “Asset Disposition Purchase Date”), the Issuer will purchase the principal amount of Notes and Other Asset Disposition Indebtedness required to be purchased pursuant to this Section 3.11 (the
“Asset Disposition Offer Amount”) or, if less than the Asset Disposition Offer Amount has been so validly tendered, all Notes and Other Asset Disposition Indebtedness validly tendered in response to the Asset Disposition Offer.

 Any Net Available Cash payable in respect of the Notes pursuant to this covenant will be apportioned between the Euro Notes and the
Dollar Notes in proportion to the respective aggregate principal amounts of Euro Notes and Dollar Notes validly tendered and not withdrawn, based upon the Euro Equivalent of such principal amount of Dollar Notes determined as of a date selected by
the Issuer that is within the Asset Disposition Offer Period. To the extent that any portion of Net Available Cash payable in respect of the Notes is denominated in a currency other than the currency in which the Notes are denominated, the amount
thereof payable in respect of such Notes shall not exceed the net amount of funds in the currency in which such Notes are denominated that is actually received by the Company upon converting such portion into such currency. 

If the Asset Disposition Purchase Date is on or after an interest record date and on or before the related Interest Payment Date, any accrued
and unpaid interest will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Asset Disposition Offer. 

Upon the commencement of an Asset Disposition Offer, the Issuer will send, by first class mail, a notice to the Trustee and each of the
Holders, with a copy to the Trustee. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Disposition Offer. The notice, which will govern the terms of the Asset Disposition
Offer, will state: 
  

	 	(1)	that the Asset Disposition Offer is being made pursuant to this Section 3.11 and Section 4.10 and the length of time the Asset Disposition Offer will remain open; 

 

	 	(2)	the Asset Disposition Offer Amount, the purchase price and the Asset Disposition Purchase Date; 

  

	 	(3)	that any Note not tendered or accepted for payment will continue to accrue interest; 

  

	 	(4)	that, unless the Issuer defaults in making such payment, any Note accepted for payment pursuant to the Asset Disposition Offer will cease to accrue interest after the Asset Disposition Purchase Date; 

 

	 	(5)	that Holders electing to have a Note purchased pursuant to an Asset Disposition Offer may elect to have Notes purchased in denominations of €100,000 and in integral multiples of €1,000 in excess thereof, in
the case of the Euro Notes, and in denominations of $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes; 

  
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	 	(6)	that Holders electing to have Notes purchased pursuant to any Asset Disposition Offer will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes
completed, or transfer by book-entry transfer, to the Issuer, the Depositary, Euroclear or Clearstream, if appointed by the Issuer, or a Paying Agent at the address specified in the notice at least three days
before the Asset Disposition Purchase Date; 

  

	 	(7)	that Holders will be entitled to withdraw their election if the Issuer, the Depositary, Euroclear or Clearstream or the Paying Agent, as the case may be, receives, not later than the expiration of the Asset Disposition
Offer Period, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased;

  

	 	(8)	that, if the aggregate principal amount of Notes and Other Asset Disposition Indebtedness surrendered by Holders thereof exceeds the Asset Disposition Offer Amount, the Issuer will select the Notes and Other Asset
Disposition Indebtedness to be purchased on a pro rata basis based on the principal amount of Notes and such Other Asset Disposition Indebtedness surrendered (with such adjustments as may be deemed appropriate by the Issuer so that only Euro
Notes in denominations of €100,000 and in integral multiples of €1,000 in excess thereof or Dollar Notes in denominations of $200,000 and in integral multiples of $1,000 in excess thereof will be purchased); and 

 

	 	(9)	that Holders whose Notes were purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by
book-entry transfer). 

 On or before the Asset Disposition Purchase Date, the Issuer
will, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Asset Disposition Offer Amount of Notes and Other Asset Disposition Indebtedness or portions of Notes and Other Asset Disposition Indebtedness so
validly tendered and not properly withdrawn pursuant to the Asset Disposition Offer, or if less than the Asset Disposition Offer Amount has been validly tendered and not properly withdrawn, all Notes and Other Asset Disposition Indebtedness so
validly tendered and not properly withdrawn, in each case in a principal amount of €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes and in denominations of $200,000 and in integral multiples of
$1,000 in excess thereof, in the case of the Dollar Notes. The Issuer will deliver to the Trustee an Officers’ Certificate stating that such Notes or portions thereof were accepted for payment by the Issuer in accordance with the terms of this
covenant. The Issuer or the Paying Agent, as the case may be, will promptly (but in any case not later than five Business Days after termination of the Asset Disposition Offer Period) mail or deliver to each tendering Holder of Notes or Holder or
lender of Other Asset Disposition Indebtedness, as the case may be, an amount equal to the purchase price of the Notes or Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn by such Holder or lender, as the case may
be, and accepted by the Issuer for purchase, and the Issuer will promptly issue a new Note, and the Authenticating Agent, upon delivery of an Officer’s Certificate from the Issuer, will authenticate and mail or deliver (or cause to be
transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered; provided that each such new Note will be in a principal amount of €100,000 and in integral multiples
of €1,000 in excess thereof, in the case of the Euro Notes and in denominations of $200,000 and in integral multiples of $1,000 in excess thereof, in the case 

  
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of the Dollar Notes. In addition, the Issuer will take any and all other actions required by the agreements governing the Other Asset Disposition Indebtedness. Any Note not so accepted will be
promptly mailed or delivered by the Issuer to the Holder thereof. The Issuer will publicly announce the results of the Asset Disposition Offer on the Asset Disposition Purchase Date. 

The Issuer will comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities
laws or regulations to the extent such laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Disposition Offer. To the extent that the provisions of any securities laws or regulations conflict with the
provisions of this Section 3.11 or Section 4.10, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Indenture by virtue of any conflict. 

Other than as specifically provided in this Section 3.11, any purchase pursuant to this Section 3.11 shall be made pursuant to the
provisions of Sections 3.01 through 3.06. 
 ARTICLE 4. 

COVENANTS 
 Section 4.01
Payment of Notes 
 (a) The Issuer shall pay or cause to be paid the principal of, premium, if any, and interest and Additional
Amounts, if any, on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid on the date due if the relevant Paying Agent, if other than the Issuer, holds on the Business Day
prior to the due date, money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal, premium and Additional Amounts, if any, and interest then due. 

Principal of, interest, premium and Additional Amounts, if any, on Global Notes will be payable, in respect of the Euro Notes, at the
corporate trust office or agency of the Euro Paying Agent maintained in London, England for such purposes and, in respect of the Dollar Notes, at the corporate trust office or agency of the Dollar Paying Agent maintained in the Borough of Manhattan,
City of New York, for such purposes. All payments on the Global Notes will be made by transfer of immediately available funds to an account of the Holder of the Global Notes in accordance with the procedures or Euroclear, Clearstream or DTC, as
applicable. 
 Principal of, interest, premium and Additional Amounts, if any, on any Definitive Registered Notes will be payable at the
corporate trust office or agency of the Euro Paying Agent or the Dollar Paying Agent, as applicable, in any location required to be maintained for such purposes pursuant to Section 2.03. In addition, interest on Definitive Registered Notes may
be paid by check mailed to the person entitled thereto as shown on the Register for such Definitive Registered Notes. 
 (b) The Issuer
shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium at the rate equal to 1% per annum in excess of the then applicable
interest rate on the Notes to the extent lawful; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Amounts
(without regard to any applicable grace period) at the same rate to the extent lawful. 
 Section 4.02 Maintenance of Office or Agency 

The Issuer shall maintain the offices and agencies specified in Section 2.03. The Issuer shall give prompt written notice to the Trustee
of the location, and any change in the 

  
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location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee. 
 The Issuer may
also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such
designation or rescission shall in any manner relieve the Issuer of its obligations to maintain an office or agency in Luxembourg for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and
of any change in the location of any such other office or agency. 
 The Issuer hereby designates the Corporate Trust Office of the
Trustee as one such office or agency of the Issuer in accordance with Section 2.03. 
 Section 4.03 Reports 

(a) The Proceeds Loan Borrower, the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor will provide to the Trustee and, in each case
of clauses (2) and (3) of this Section 4.03, will post on its website (or make similar disclosure) the following (provided, however, that to the extent any reports are filed on the SEC’s website or on the Reporting
Entity’s or Liberty Global’s website, such reports shall be deemed to be provided to the Trustee): 
 (1) within
150 days after the end of each fiscal year ending subsequent to the Issue Date, an annual report of the Reporting Entity, containing the following information: (a) audited combined or consolidated balance sheets of the Reporting Entity as of
the end of the two most recent fiscal years (or such shorter period as the Reporting Entity has been in existence) and audited combined or consolidated income statements and statements of cash flow of the Reporting Entity for the three most recent
fiscal years (or such shorter period as the Reporting Entity has been in existence), in each case prepared in accordance with GAAP, including appropriate footnotes to such financial statements and a report of the independent public accountants on
the financial statements; (b) to the extent relating to such annual periods, an operating and financial review of the audited financial statements, including a discussion of the results of operations, financial condition, and liquidity and
capital resources and critical accounting policies; and (c) to the extent not included in the audited financial statements or operating and financial review, a description of the business, management and shareholders of the Reporting Entity,
and a description of all material debt instruments; provided, however, that such reports need not (i) contain any segment data other than as required under GAAP in its financial reports with respect to the period presented,
(ii) include any exhibits, or (iii) include separate financial statements for any Affiliates of the Reporting Entity or any acquired businesses; 

(2) within 60 days after each of the first three fiscal quarters in each fiscal year, a quarterly report of the Reporting
Entity containing the following information: (a) unaudited combined or consolidated income statements of the Reporting Entity for such period, prepared in accordance with GAAP, and (b) a financial review of such period (including a
comparison against the prior year’s comparable period), consisting of a discussion of (i) the results of operations and financial condition of the Reporting Entity on a consolidated basis, and material changes between the current period
and the prior year’s comparable period, (ii) material developments in the business of the Reporting Entity and its Restricted Subsidiaries, (c) financial information and trends in the business in which the Reporting Entity and its
Restricted Subsidiaries is engaged and (d) information with respect to any material 

  
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acquisition or disposal during the period provided, however, that such reports need not (i) contain any segment data other than as required under GAAP in its financial reports with respect
to the period presented, (ii) include any exhibits, or (iii) include separate financial statements for any Affiliates of the Reporting Entity or any acquired businesses; and 

(3) within 10 days after the occurrence of such event, information with respect to (a) any change in the independent
public accountants of the Reporting Entity (unless such change is made in conjunction with a change in the auditor of Liberty Global), (b) any material acquisition or disposal, and (c) any material development in the business of the
Reporting Entity and its Restricted Subsidiaries. 
 (b) If the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor has designated
any of its Subsidiaries as Unrestricted Subsidiaries and any such Unrestricted Subsidiary or group of Unrestricted Subsidiaries constitute Significant Subsidiaries of the Reporting Entity, then the annual and quarterly information required by
Section 4.03(a)(1) and Section 4.03(a)(2) shall include a reasonably detailed presentation, either on the face of the financial statements, in the footnotes thereto or in a separate report delivered therewith, of the financial
condition and results of operations of the Reporting Entity and its Restricted Subsidiaries separate from the financial condition and results of operations of such Unrestricted Subsidiaries. 

(c) Following any election by the Reporting Entity to change its accounting principles in accordance with the definition of GAAP set forth
under Section 1.01, the annual and quarterly information required by Section 4.03(a)(1) and Section 4.03(a)(2) shall include any reconciliation presentation required by clause (2)(a) of the definition of GAAP set forth
under Section 1.01. 
 (d) To the extent that material differences exist between the business, assets, results of operations or
financial condition of (i) the Reporting Entity and (i) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries, the annual and quarterly reports shall give a reasonably detailed description of such
differences and include an unaudited reconciliation of the Reporting Entity’s financial statements to the financial statements of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries. 

(e) In addition, so long as the Notes remain outstanding and during any period during which the Reporting Entity is not subject to
Section 13 or 15(d) of the Exchange Act nor exempt therefrom pursuant to Rule 12g3-2(b) of the Exchange Act, the Reporting Entity shall furnish to the Holders and to prospective investors, upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (f) The Issuer, the Company, UPC NL Holdco or the Affiliate Proceeds Loan
Obligor will provide to the Trustee (provided, however, that to the extent any reports are filed on the SEC’s website or on the Reporting Entity’s or Liberty Global’s website, such reports shall be deemed to be provided to the
Trustee), within 150 days after the end of each fiscal year ending subsequent to the Issue Date, an audited consolidated balance sheet of the Issuer as of the end of the two most recent fiscal years (or such shorter period as the Issuer has been in
existence) and audited consolidated income statements and statements of cash flow of the Issuer for the three most recent fiscal years (or such shorter period as the Issuer has been in existence), in each case prepared in accordance with GAAP, IFRS
or Local GAAP (such reporting standard, the “Initial Reporting Standard”), including appropriate footnotes to such financial statements and a report of independent auditors on the financial statements. At any time after the Issue
Date, the Issuer may elect to apply for all purposes of this Indenture, in lieu of the Initial Reporting Standard, any of GAAP, IFRS or Local GAAP (the “New Reporting Standard”) and, upon such election, (1) all financial
statements and reports to be provided, after such election, pursuant to this Indenture shall be prepared on 

  
 74 

 
the basis of the New Reporting Standard as in effect from time to time (including that, upon first reporting its fiscal year results under the New Reporting Standard, the Issuer shall restate its
financial statements on the basis of the New Reporting Standard for the fiscal year ending immediately prior to the first fiscal year for which financial statements have been prepared on the basis of the New Reporting Standard), and (2) from
and after such election, all ratios, computations, and other determinations based on Initial Reporting Standard contained in this Indenture shall be computed in conformity with the New Reporting Standard with retroactive effect being given thereto
assuming that such election had been made on the Issue Date. 
 Section 4.04 Compliance Certificate 

(a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s Certificate stating that, in
the course of the performance by the signers of their duties as officers of the Company they would normally have knowledge of any Default, and further stating whether or not the signers know of any Default that occurred during such period. 

(b) The Company shall, so long as any of the Notes are outstanding, deliver to the Trustee within 30 days after the occurrence of any Default
or Event of Default an Officer’s Certificate specifying such Default or Event of Default, its status and what action the Company is taking or proposes to take with respect thereto. 

Section 4.05 Taxes 
 The Company, UPC
NL Holdco and the Affiliate Proceeds Loan Obligor will pay, and will cause each of its respective Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by
appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders. 
 Section 4.06 Stay,
Extension and Usury Laws 
 Each of the Issuer, the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor agrees (to the extent
that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may
affect the covenants or the performance of this Indenture; and each of the Issuer, the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor agrees (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage
of any such law, and agrees that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been
enacted. 
 Section 4.07 Limitation on Restricted Payments 

(a) The Issuer will not, directly or indirectly: 

(1) declare or pay any dividend or make any distribution on or in respect of its Capital Stock; or 

(2) purchase, redeem, retire or otherwise acquire for value any Capital Stock of the Issuer, 

in each case, other than Permitted Issuer Maintenance Payments. 

  
 75 

 (b) The Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor will not, and will not
permit any of the Restricted Subsidiaries, directly or indirectly: 
 (1) to declare or pay any dividend or make any
distribution on or in respect of its Capital Stock (including any payment in connection with any merger or consolidation involving the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries) except: 

(A) dividends or distributions payable in Capital Stock of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor
(other than Disqualified Stock) or Subordinated Shareholder Loans; and 
 (B) dividends or distributions payable to the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary (and if such Restricted Subsidiary is not a Wholly Owned Subsidiary of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, as applicable, to its
other Holders of common Capital Stock on a pro rata basis); 
 (2) to purchase, redeem, retire or otherwise acquire for value
any Capital Stock of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor, any Affiliate Subsidiary or any Parent of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Affiliate Subsidiary held by Persons other than
the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary; 
 (3) to purchase, repurchase,
redeem, defease or otherwise acquire or retire for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment, any Subordinated Obligations (other than (x) the purchase, repurchase, redemption, defeasance or other
acquisition or retirement of Subordinated Obligations purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of purchase, repurchase, redemption,
defeasance or other acquisition or retirement or (y) Indebtedness permitted under Section 4.09(c)(2)); or 
 (4) to
make any Restricted Investment in any Person; 
 (any such dividend, distribution, purchase, redemption, repurchase, defeasance, other acquisition,
retirement or Restricted Investment referred to in clauses (1) through (4) is referred to herein as a “Restricted Payment”), if at the time the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted
Subsidiary makes such Restricted Payment: 
 (A) a Default shall have occurred and be continuing (or would result therefrom);
or 
 (B) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries are not able to
Incur an additional €1.00 of Pari Passu Indebtedness pursuant to Section 4.09(b) after giving effect, on a pro forma basis, to such Restricted Payment; or 

(C) the aggregate amount of such Restricted Payment and all other Restricted Payments declared or made subsequent to
May 7, 2010 and not returned or rescinded would exceed the sum of: 
  

	 	(i)	50% of Consolidated Net Income for the period (treated as one accounting period) from the beginning of the first fiscal quarter commencing after May 7, 2010 to the end of the most recent fiscal quarter ending prior
to the date of such Restricted Payment for which financial statements are available (or, in case such Consolidated Net Income is a deficit, minus 100% of such deficit); 

  
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	 	(ii)	100% of the aggregate Net Cash Proceeds and the fair market value, as determined in good faith by the Board of Directors or senior management of the Company, of marketable securities, or other property or assets,
received by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor from the issue or sale of its Capital Stock (other than Disqualified Stock) or Subordinated Shareholder Loans or other capital contributions subsequent to May 7, 2010
(other than (x) Net Cash Proceeds received from an issuance or sale of such Capital Stock to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary or an employee stock ownership plan, option plan or similar
trust to the extent such sale to an employee stock ownership plan or similar trust is financed by loans from or guaranteed by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary unless such loans have been
repaid with cash on or prior to the date of determination, (y) Excluded Contributions or (z) Net Cash Proceeds and the fair market value of such assets received in connection with the Acquisition); 

 

	 	(iii)	100% of the aggregate Net Cash Proceeds and the fair market value, as determined in good faith by the Board of Directors or senior management of the Company, of marketable securities, or other property or assets,
received by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary from the issuance or sale (other than to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary) by the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary subsequent to May 7, 2010 of any Indebtedness that has been converted into or exchanged for Capital Stock of the Company, UPC NL Holdco or the Affiliate
Proceeds Loan Obligor (other than Disqualified Stock) or Subordinated Shareholder Loans; 

  

	 	(iv)	the amount equal to the net reduction in Restricted Investments made by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries resulting from: 

 

	 	(A)	repurchases, redemptions or other acquisitions or retirements of any such Restricted Investment, proceeds realized upon the sale or other disposition to a Person other than the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or a Restricted Subsidiary of any such Restricted Investment, repayments of loans or advances or other transfers of assets (including by way of dividend, distribution, interest payments or returns of capital) to the Company,
UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; or 

  

	 	(B)	the redesignation of Unrestricted Subsidiaries as Restricted Subsidiaries (valued in each case as provided in the definition of “Investment”) not to exceed, in the case of any Unrestricted Subsidiary, the
amount of Investments previously made by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in such Unrestricted Subsidiary, 

which amount in each case under this clause (iv) was included in the calculation of the amount of Restricted Payments; provided,
however, that no amount will be included in Consolidated Net Income for the purposes of the preceding clause (i) to the extent that it is (at the Company’s option) included under this clause (iv); and 

  
 77 

	 	(v)	100% of the Net Cash Proceeds and the fair market value (as determined in accordance with Section 4.07(e)) of marketable securities, or other property or assets, received by the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries in connection with: (A) the sale or other disposition (other than to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary or an employee
stock ownership plan or trust established by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Subsidiary of the Company for the benefit of its employees to the extent funded by the Company, UPC NL Holdco, the Affiliate Proceeds
Loan Obligor or any Restricted Subsidiary) of Capital Stock of an Unrestricted Subsidiary; and (B) any dividend or distribution made by an Unrestricted Subsidiary to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a
Restricted Subsidiary; provided however, that no amount will be included in Consolidated Net Income for the purposes of the preceding clause (i) to the extent that it is (at the Company’s option) included under this clause (v).

 Fair market value of property or assets other than cash covered by the preceding sentence shall be the fair market value
thereof as determined in good faith by the Board of Directors or senior management of the Company. 
 (c) Section 4.07(b) will not
prohibit: 
 (1) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Capital Stock,
Disqualified Stock, Subordinated Shareholder Loans or Subordinated Obligations of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor made by exchange (including any such exchange pursuant to the exercise of a conversion right or
privilege in connection with which cash is paid in lieu of the issuance of fractional shares) for, or out of the proceeds of the sale or issuance within 90 days of, Capital Stock of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor
(other than Disqualified Stock or Capital Stock issued or sold to a Subsidiary or an employee stock ownership plan or similar trust to the extent such sale to an employee stock ownership plan or similar trust is financed by loans from or guaranteed
by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary unless such loans have been repaid with cash on or prior to the date of determination), Subordinated Shareholder Loans or a substantially concurrent
capital contribution to the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor; provided, however, that (a) such purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent
calculations of the amount of Restricted Payments and (b) the Net Cash Proceeds from such sale or issuance of Capital Stock or Subordinated Shareholder Loans or from such capital contribution will be excluded from clause (4)(C)(ii) of
Section 4.07(b); 
 (2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of
Subordinated Obligations of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor made by exchange for, or out of the proceeds of the sale within 90 days of, Subordinated Obligations of the Company, UPC NL Holdco, the Affiliate Proceeds
Loan Obligor or such Restricted Subsidiary that is permitted to be Incurred pursuant to Section 4.09 and that in each case constitutes Refinancing Indebtedness; provided, however, that such purchase, repurchase, redemption, defeasance,
acquisition or retirement will be excluded in subsequent calculations of the amount of Restricted Payments; 

  
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 (3) any purchase, repurchase, redemption, defeasance or other acquisition or
retirement of Disqualified Stock of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary made by exchange for, or out of the proceeds of the sale within 90 days of, Disqualified Stock of the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary, as the case may be, that, in each case, is permitted to be Incurred pursuant to the covenant described under Section 4.09 and that in each case constitutes Refinancing
Indebtedness; provided, however, that such purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of Restricted Payments; 

(4) dividends paid within 60 days after the date of declaration if at such date of declaration such dividend would have
complied with this provision; provided, however, that such dividends will be included in subsequent calculations of the amount of Restricted Payments; 

(5) the purchase, repurchase, defeasance, redemption or other acquisition, cancellation or retirement for value of Capital
Stock, or options, warrants, equity appreciation rights or other rights to purchase or acquire Capital Stock of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary or any parent of the Company, UPC NL Holdco
or the Affiliate Proceeds Loan Obligor held by any existing or former employees or management of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Subsidiary of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor
or their assigns, estates or heirs, in each case in connection with the repurchase provisions under employee stock option or stock purchase agreements or other agreements to compensate management employees; provided that such redemptions or
repurchases pursuant to this clause will not exceed an amount equal to €10.0 million in the aggregate during any calendar year (with any unused amounts in any preceding calendar year being carried over to the succeeding calendar year);
provided, however, that the amount of any such repurchase or redemption will be included in subsequent calculations of the amount of Restricted Payments; 

(6) the declaration and payment of dividends to Holders of any class or series of Disqualified Stock, or of any Preferred Stock
of a Restricted Subsidiary, Incurred in accordance with the terms of Section 4.09; provided, however, that such dividends will be excluded from subsequent calculations of the amount of Restricted Payments; 

(7) purchases, repurchases, redemptions, defeasance or other acquisitions or retirements of Capital Stock deemed to occur upon
the exercise of stock options, warrants or other convertible securities if such Capital Stock represents a portion of the exercise price thereof; provided, however, that such repurchases will be excluded from subsequent calculations of the
amount of Restricted Payments; 
 (8) the purchase, repurchase, redemption, defeasance or other acquisition or retirement for
value of any Subordinated Obligation (a) at a purchase price not greater than 101% of the principal amount of such Subordinated Obligation in the event of a Change of Control in accordance with provisions similar to Section 4.14,
(b) at a purchase price not greater than 100% of the principal amount thereof in accordance with provisions similar to Section 3.11 and Section 4.10; provided that, prior to or simultaneously with such purchase, repurchase,
redemption, defeasance or other acquisition or retirement, the Company has made the Change of Control 

  
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Offer or Asset Disposition Offer, as applicable, as provided in Section 3.11, Section 4.10 or Section 4.14, as the case may be, with respect to the Notes and has completed the
repurchase or redemption of all Notes validly tendered for payment in connection with such Change of Control Offer or Asset Disposition Offer; and provided, further, that such purchase, redemption or other acquisition of Subordinated
Obligations will be excluded from subsequent calculations of the amount of Restricted Payments or (c) (i) consisting of Acquired Indebtedness (other than Indebtedness Incurred to provide all or any portion of the funds utilized to
consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary) and
(ii) at a purchase price not greater than 100% of the principal amount of such Subordinated Obligation plus accrued and unpaid interest and any premium required by the terms of any Acquired Indebtedness; 

(9) dividends, loans, advances or distributions to any Parent or other payments by the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in amounts equal to: 
 (A) the amounts required for any Parent
to pay Parent Expenses; 
 (B) the amounts required for any Parent to pay Public Offering Expenses or fees and expenses
related to any other equity or debt offering of such Parent that are directly attributable to the operation of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries; 

(C) the amounts required for any Parent to pay Related Taxes; and 

(D) amounts constituting payments satisfying the requirements of clauses (11) and (12) of Section 4.11(b); 

provided, however, that such dividends, loans, advances, distributions or other payments will be excluded from subsequent
calculations of the amount of Restricted Payments; 
 (10) Restricted Payments in an aggregate amount outstanding at any time
not to exceed the aggregate cash amount of Excluded Contributions, or consisting of non-cash Excluded Contributions, or Investments in exchange for or using as consideration Investments previously made under this clause, provided,
however, that the amount of such Restricted Payments will be excluded from subsequent calculations of the amount of Restricted Payments; 

(11) payments by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, or loans, advances, dividends or
distributions to any parent company of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor to make payments to Holders of Capital Stock of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or any parent company of the
Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor in lieu of the issuance of fractional shares of such Capital Stock; provided, however, that the net amount of such payments will be excluded from subsequent calculations of the
amount of Restricted Payments; 
 (12) so long as no Default or Event of Default of the type specified in clauses (1) or
(2) under Section 6.01(a) has occurred and is continuing, Restricted Payments to be applied for the purpose of making corresponding payments on 

  
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Indebtedness of any Parent to the extent that such Indebtedness is guaranteed by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor pursuant to a guarantee otherwise permitted to
be Incurred under this Indenture; provided, however, that the amount of such payments will be included in subsequent calculations of the amount of Restricted Payments; 

(13) so long as no Default or Event of Default of the type specified in clauses (1) or (2) under Section 6.01(a)
has occurred and is continuing, any Restricted Payment to the extent that, after giving pro forma effect to any such Restricted Payment, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00, provided, however, that
the net amount of such payments will be included in subsequent calculations of the amount of Restricted Payments; 
 (14)
Restricted Payments in an aggregate amount at any time outstanding, when taken together with all other Restricted Payments made pursuant to this clause (14), not to exceed the greater of (a) €250.0 million and (b) 5.0% of Total
Assets, in the aggregate in any calendar year (with any unused amounts in any preceding calendar year being carried over to the succeeding calendar year); provided, however, that the amount of such Restricted Payments will be included
in subsequent calculations of the amount of Restricted Payments; 
 (15) the distribution, as a dividend or otherwise, of
shares of Capital Stock of or, Indebtedness owed to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary by, Unrestricted Subsidiaries; provided, however, that such distributions will be excluded from
subsequent calculations of the amount of Restricted Payments; 
 (16) following a Public Offering of the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor or any Parent, the declaration and payment by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Parent, or the making of any cash payments, advances, dividends or distributions to any
Parent to pay, dividends or distributions on the Capital Stock, common stock or common equity interests of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Parent; provided that the aggregate amount of all such dividends
or distributions under this clause (16) shall not exceed in any fiscal year the greater of (a) 6.0% of the Net Cash Proceeds received from such Public Offering or subsequent Equity Offering by the Company, UPC NL Holdco or the Affiliate
Proceeds Loan Obligor or contributed to the capital of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor by any Parent in any form other than Indebtedness or Excluded Contributions and (b) following the Initial Public Offering,
an amount equal to the greater of (i) 7.0% of the Market Capitalization and (ii) 7.0% of the IPO Market Capitalization, provided that after giving pro forma effect to the payment of any such dividend or making of any such distribution, the
Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00; provided, however, that the amount of such Restricted Payments will be included in subsequent calculations of the amount of Restricted Payments; 

(17) after the designation of any Restricted Subsidiary as an Unrestricted Subsidiary, distributions (including by way of
dividend) consisting of cash, Capital Stock or property or other assets of such Unrestricted Subsidiary that in each case is held by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; provided,
however, that (a) such distribution or disposition shall include the concurrent transfer of all liabilities (contingent or otherwise) attributable to the property or other assets being transferred; (b) any property or other assets
received from any Unrestricted Subsidiary (other than Capital Stock issued by any Unrestricted Subsidiary) may be transferred by way of distribution or disposition pursuant to this clause (17) only if such property or other assets, together
with all 

  
 81 

 
related liabilities, is so transferred in a transaction that is substantially concurrent with the receipt of the proceeds of such distribution or disposition by the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or such Restricted Subsidiary; and (c) such distribution or disposition shall not, after giving effect to any related agreements, result nor be likely to result in any material liability, tax or other adverse
consequences to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries on a Consolidated basis; provided further, however, that such distributions will be excluded from the calculation of the amount of
Restricted Payments, it being understood that proceeds from the disposition of any cash, Capital Stock or property or other assets of an Unrestricted Subsidiary that are so distributed will not increase the amount of Restricted Payments permitted
under Section 4.07(b)(4)(C)(iv); 
 (18) Restricted Payments reasonably required to consummate any Related Transaction;
provided, however, that the amount of such Restricted Payments will be excluded in subsequent calculations of the amount of Restricted Payments; 

(19) Restricted Payments at any time outstanding made with the proceeds of any drawings under a Permitted Revolving Credit
Facility in an amount not to exceed the Revolving Facility Excluded Amount, provided that, the amount of any Restricted Payment made pursuant to this clause (19) shall be deemed to be reduced (but not below zero) by the aggregate principal
amount of any prepayment or repayment (including on a cashless basis) of any such drawings under such Permitted Revolving Credit Facility; provided, however, that, the net amount of such Restricted Payments will be included in subsequent
calculations of the amount of Restricted Payments; 
 (20) Restricted Payments for the purpose of making corresponding
payments on any Indebtedness of a Parent, provided that (a) on the date of Incurrence of such Indebtedness by a Parent and after giving effect thereto on a pro forma basis, the Consolidated Net Leverage Ratio, calculated for purposes of this
clause (20) as if such Indebtedness of such Parent were being incurred by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, would not exceed 5.0 to 1.0 or (b) such Indebtedness of a Parent is guaranteed pursuant to
Section 4.09(c)(13), and, with respect to clause (a) and (b) of this clause (20), any Refinancing Indebtedness in respect thereof; provided, however, that the amount of such Restricted Payments will be included in subsequent
calculations of the amount of Restricted Payments; and 
 (21) distributions (including by way of dividend) to a Parent
consisting of cash, Capital Stock or property or other assets of a Restricted Subsidiary that is in each case held by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary for sole purpose of transferring such
cash, Capital Stock or property or other assets to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary. 

(d) For purposes of determining compliance with this Section 4.07, in the event that a Restricted Payment meets the criteria of more than
one of the categories described in Section 4.07(c), or is permitted pursuant to Section 4.07(b), the Company will be entitled to classify such Restricted Payment (or portion thereof) on the date of its payment or later reclassify such
Restricted Payment (or portion thereof) in any manner that complies with this Section 4.07. 
 (e) The amount of all Restricted
Payments (other than cash) shall be the fair market value on the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or issued by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such
Restricted Subsidiary, as the case may be, pursuant to such Restricted 

  
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Payment. The fair market value of any cash Restricted Payment shall be its face amount and any non-cash Restricted Payment shall be determined in good faith by the Board of Directors or senior
management of the Company. 
 Section 4.08 Limitation on Restrictions on Distributions from Restricted Subsidiaries 

(a) The Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor will not, and will not permit any Restricted Subsidiary to, create or
otherwise cause or permit to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 

(1) pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness or other obligations owed to the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; 
 (2) make any loans or advances
to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; or 
 (3) transfer any of
its property or assets to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; 
 provided that (a) the
priority of any Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on Common Stock and (b) the subordination of (including but not limited to, the application of any
standstill requirements to) loans or advances made to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary to other Indebtedness Incurred by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or
any Restricted Subsidiary, shall not be deemed to constitute such an encumbrance or restriction. 
 (b) Section 4.08(a) will not
prohibit: 
 (1) any encumbrance or restriction pursuant to an agreement in effect at or entered into on the Issue Date,
including, without limitation, this Indenture, the Covenant Agreement, the Senior Facility Agreement, the Priority Agreement, the Senior Secured Priority Agreement, the Existing Senior Notes, the Existing Senior Secured Notes, the Proceeds Loan
Collateral Documents and any related documentation, in each case, as in effect on the Issue Date; 
 (2) any encumbrance or
restriction pursuant to an agreement or instrument of a Person relating to any Capital Stock or Indebtedness of a Person, Incurred on or before the date on which such Person was acquired by or merged or consolidated with or into the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary, or on which such agreement or instrument is assumed by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in connection with an
acquisition of assets (other than Capital Stock or Indebtedness Incurred as consideration in, or to provide all or any portion of the funds utilized to consummate, the transaction or series of related transactions pursuant to which such Person
became a Restricted Subsidiary or was acquired by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or was merged or consolidated with or into the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted
Subsidiary or in contemplation of such transaction) and outstanding on such date, provided, that any such encumbrance or restriction shall not extend to any assets or property of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any
other Restricted Subsidiary other than the assets and property so acquired and provided, further, that for the purposes of this clause, if another Person is the Successor Company, any Subsidiary thereof or agreement or instrument of such Person or
any such Subsidiary shall be deemed 

  
 83 

 
acquired or assumed by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary when such Person becomes the Successor Company; 

(3) any encumbrance or restriction pursuant to an agreement or instrument effecting a refunding, replacement or refinancing of
Indebtedness Incurred pursuant to, or that otherwise extends, renews, refunds, refinances or replaces, an agreement referred to in clause (1) or (2) of this Section 4.08(b) or this clause (3) or contained in any amendment,
supplement or other modification to an agreement referred to in clause (1) or (2) of this Section 4.08(b) or this clause (3); provided, however, that the encumbrances and restrictions, taken as a whole, with respect to such
Restricted Subsidiary contained in any such agreement are no less favorable in any material respect to the Holders than the encumbrances and restrictions contained in such agreements referred to in clauses (1) or (2) of this
Section 4.08(b) (as determined in good faith by the Board of Directors or senior management of the Company); 
 (4) in
the case of Section 4.08(a)(3), any encumbrance or restriction: 
 (A) that restricts in a customary manner the
subletting, assignment or transfer of any property or asset that is subject to a lease, license or similar contract, or the assignment or transfer of any such lease, license or other contract; 

(B) contained in Liens permitted under this Indenture securing Indebtedness of the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or a Restricted Subsidiary to the extent such encumbrances or restrictions restrict the transfer of the property subject to such mortgages, pledges or other security agreements; or 

(C) pursuant to customary provisions restricting dispositions of real property interests set forth in any reciprocal easement
agreements of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; 
 (5) any
encumbrance or restriction pursuant to (A) Purchase Money Obligations for property acquired in the ordinary course of business and (B) Capitalized Lease Obligations permitted under this Indenture, in each case that impose encumbrances or
restrictions of the nature described in Section 4.08(a)(3) on the property so acquired; 
 (6) any Purchase Money Note
or other Indebtedness or contractual requirements Incurred with respect to a Qualified Receivables Transaction relating exclusively to a Receivables Entity that, in the good faith determination of the Board of Directors or senior management of the
Company, are necessary to effect such Qualified Receivables Transaction; 
 (7) any encumbrance or restriction with respect
to a Restricted Subsidiary (or any of its property or assets) imposed pursuant to an agreement entered into for the direct or indirect sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary (or the
property or assets that are subject to such restriction) pending the closing of such sale or disposition; 
 (8) customary
provisions in leases, asset sale agreements, joint venture agreements and other agreements and instruments entered into by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in the ordinary course of
business; 

  
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 (9) encumbrances or restrictions arising or existing by reason of applicable law
or any applicable rule, regulation, governmental license or order, or required by any regulatory authority; 
 (10) any
encumbrance or restriction on cash or other deposits or net worth imposed by customers under agreements entered into in the ordinary course of business; 

(11) any encumbrance or restriction pursuant to Currency Agreements, Commodity Agreements or Interest Rate Agreements; and 

(12) any encumbrance or restriction arising pursuant to an agreement or instrument relating to any Indebtedness permitted to be
Incurred subsequent to the Issue Date pursuant to the provisions of Section 4.09 if (A) the encumbrances and restrictions taken as a whole are not materially less favorable to the Holders than the encumbrances and restrictions contained in
this Indenture, the Covenant Agreement, the Senior Facility Agreement, the Existing Senior Secured Notes, the Existing Senior Notes, the Priority Agreement, the Senior Secured Priority Agreement, the Proceeds Loan Collateral Documents and any
related documentation, in each case, as in effect on the Issue Date (as determined in good faith by the Board of Directors or senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor) or (B) such encumbrances and
restrictions taken as a whole are not materially more disadvantageous to the Holders than is customary in comparable financings (as determined in good faith by the Board of Directors or senior management of the Company, UPC NL Holdco or the
Affiliate Proceeds Loan Obligor) and, in each case, either (i) the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor reasonably believes that such encumbrances and restrictions will not materially affect the Company’s ability
to make principal or interest payments on the Proceeds Loans as and when they come due or (ii) such encumbrances and restrictions apply only if a default occurs in respect of a payment or financial covenant relating to such Indebtedness. 

Section 4.09 Limitation on Indebtedness 

(a) The Issuer will not Incur any Indebtedness (including Acquired Indebtedness) other than (1) the Notes (including Additional Notes),
(2) Additional Issuer Debt and (3) Indebtedness represented by the Note Security Documents; provided, however that the proceeds of each Incurrence of Additional Notes or Additional Issuer Debt are loaned by the Issuer to one or more
Proceeds Loan Obligors as a proceeds loan under the Proceeds Loan Agreement (each, an “Additional Proceeds Loan”) and the relevant Proceeds Loan Obligor is permitted to Incur the Additional Proceeds Loan under the terms of this covenant.

 (b) The Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor will not, and will not permit any of the Restricted Subsidiaries
to, Incur any Indebtedness (including Acquired Indebtedness); provided, however, that: 
 (1) any Restricted
Subsidiary may Incur Indebtedness (including Acquired Indebtedness) if on the date of such Incurrence and after giving effect thereto on a pro forma basis (a) the Consolidated Net Leverage Ratio (excluding for the purposes of this clause
(1)(a), outstanding Indebtedness of the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor as set forth in the definition of Consolidated Net Leverage Ratio) would not exceed 4.00 to 1.00 and (b) the Consolidated Net Leverage Ratio
would not exceed 5.00 to 1.00; and 
 (2) the Company and/or UPC NL Holdco and/or the Affiliate Proceeds Loan Obligor may
Incur Pari Passu Indebtedness (including Acquired Indebtedness) if on the date of such Incurrence and after giving effect thereto on a pro forma basis the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00. 

  
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 (c) Section 4.09(b) will not prohibit the Incurrence of the following Indebtedness: 

(1) Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries under
Credit Facilities in the aggregate principal amount at any one time outstanding not to exceed: 
  

	 	(A)	an amount equal to the greater of (i) (x) €6,000.0 million plus (y) the amount of any Credit Facilities incurred under Section 4.09(b) or any other provision of Section 4.09(c) to
acquire any property, other assets or shares of Capital Stock of a Person and (y) 5.0% of Total Assets, plus 

  

	 	(B)	any accrual or accretion of interest that increases the principal amount of Indebtedness under Credit Facilities plus; 

  

	 	(C)	in the case of any refinancing of any Indebtedness permitted under clause (1) of this Section 4.09(c) or any portion thereof, the aggregate amount of fees, underwriting discounts, premiums and other costs and
expenses Incurred in connection with such refinancing; 

 (2) Indebtedness of the Company, UPC NL Holdco or the
Affiliate Proceeds Loan Obligor owing to and held by any Restricted Subsidiary (other than a Receivables Entity) or Indebtedness of a Restricted Subsidiary owing to and held by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any
other Restricted Subsidiary (other than a Receivables Entity); provided, however, that: 
 (A) any subsequent issuance
or transfer of Capital Stock or any other event which results in any such Indebtedness being beneficially held by a Person other than the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary (other than a
Receivables Entity); and 
 (B) any sale or other transfer of any such Indebtedness to a Person other than the Company, UPC
NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary (other than a Receivables Entity), 
 shall be deemed, in each
case, to constitute an Incurrence of such Indebtedness by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary, as the case may be; 

(3) (A) Indebtedness represented by the Proceeds Loans, (B) Indebtedness of the Proceeds Loan Guarantors represented by
the Proceeds Loan Guarantees, (C) Indebtedness under the Existing Senior Notes and the Existing Senior Secured Notes and (D) Indebtedness represented by the Proceeds Loan Collateral Documents, including, with respect to each such
Indebtedness “parallel debt” obligations created under the Priority Agreement and the Proceeds Loan Collateral Documents; 

(4) any Indebtedness (other than the Indebtedness described in clauses (1), (2) and (3) of this Section 4.09(c))
outstanding on the Issue Date after giving effect to the use of proceeds of the Proceeds Loans; 
 (5) any Refinancing
Indebtedness Incurred in respect of any Indebtedness described in clauses (3), (4), (5), (6), (8), (13), (15), (16) or (17) of this Section 4.09(c) or Incurred pursuant to Section 4.09(b); 

  
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 (6) Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan
Obligor or a Restricted Subsidiary Incurred after the Issue Date (A) Incurred and outstanding on the date on which such Restricted Subsidiary was acquired by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted
Subsidiary or is merged, consolidated, amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of related liabilities) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted
Subsidiary or was designated the Affiliate Proceeds Loan Obligor or an Affiliate Subsidiary; (B) Incurred to provide all or a portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such
Person became a Restricted Subsidiary or an Affiliate Proceeds Loan Obligor or was otherwise acquired by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary or was designated the Affiliate Proceeds Loan Obligor
or an Affiliate Subsidiary or (C) Incurred and outstanding on the date on which such Restricted Subsidiary was acquired by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary or is merged, consolidated,
amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of related liabilities) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary (other than Indebtedness
Incurred in contemplation of the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted
Subsidiary); provided, however, that with respect to clauses (A) and (B) of this Section 4.09(c)(6) only, immediately following the consummation of the acquisition of such Restricted Subsidiary by the Company, UPC NL Holdco or
the Affiliate Proceeds Loan Obligor or by a Restricted Subsidiary or such other transaction, (i) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries would have been able to Incur €1.00 of
additional Pari Passu Indebtedness pursuant to Section 4.09(b) after giving pro forma effect to the relevant acquisition or other transaction and the Incurrence of such Indebtedness pursuant to this Section 4.09(c)(6) or (ii) the
Consolidated Net Leverage Ratio would not be greater than immediately prior to such acquisition or such other transaction; 

(7) Indebtedness under Currency Agreements, Commodity Agreements and Interest Rate Agreements entered into for bona fide
hedging purposes of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Restricted Subsidiaries, in each case, not for speculative purposes (as determined in good faith by the Board of Directors or senior management of the
Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor); 
 (8) Indebtedness consisting of (A) mortgage
financings, Purchase Money Obligations or other financings, Incurred for the purpose of financing all or any part of the purchase price or cost of design, construction, installation or improvement of property (real or personal), plant, equipment or
other assets used or useful in the business of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary or (B) Indebtedness otherwise Incurred to finance the purchase, lease, rental or cost of design,
development, construction, installation or improvement of property (real or personal), plant, equipment or other assets used or useful in the business of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary,
whether through the direct purchase of assets or the Capital Stock of any Person owning such assets, and any Refinancing Indebtedness which refinances, replaces or refunds such Indebtedness, in an aggregate outstanding principal amount which, when
taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (8) will not exceed the greater of (i) €250.0 million and (ii) 5.0% of Total Assets at any time outstanding so long as such
Indebtedness exists on the date of, or commissioning of, or contracting for, such purchase, design, development, construction, installation or improvement, or is created within 270 days thereafter; 

  
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 (9) Indebtedness in respect of (A) workers’ compensation claims,
self-insurance obligations, performance, bid, indemnity, surety, judgment, appeal, performance or appeal bonds, completion guarantees, advance payment, customs, VAT or other tax or other guarantees or other similar bonds, instruments or obligations
and completion guarantees and warranties provided by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary or relating to liabilities, obligations or guarantees Incurred in the ordinary course of business or in
respect of any government requirement, (B) letters of credit, bankers’ acceptances, guarantees or other similar instruments or obligations issued or relating to liabilities or obligations Incurred in the ordinary course of business,
including letters of credit or similar instruments in respect of self insurance and worker’s compensation obligations, (C) the financing of insurance premiums in the ordinary course of business and (D) any customary cash management,
cash pooling or netting or setting off arrangements in the ordinary course of business; 
 (10) Indebtedness arising from
agreements of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary providing for indemnification, obligations in respect of earn-outs or adjustment of purchase price or similar obligations, in each case,
Incurred or assumed in connection with the disposition of any business, assets or Capital Stock of a Restricted Subsidiary, provided that the maximum aggregate liability in respect of all such Indebtedness shall at no time exceed the gross
proceeds (including the fair market value of non-cash proceeds) actually received by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries in connection with such disposition; 

(11) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument
(except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business, provided, however, that such Indebtedness is extinguished within thirty Business Days of Incurrence; 

(12) guarantees by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary of Indebtedness
or any other obligation or liability of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary (other than of any Indebtedness Incurred in violation of this Section 4.09); 

(13) Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Proceeds Loan Obligor Incurred
pursuant to any guarantees of Indebtedness of any Parent, provided that, for purposes of this clause (13), (i) on the date of such Incurrence and after giving effect thereto on a pro forma basis, the Consolidated Net Leverage Ratio,
including for purposes of such calculation, any Indebtedness represented by guarantees by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries of Indebtedness of any Parent, would not exceed 5.00 to
1.00, and (ii) such guarantees shall be subordinated to the Proceeds Loans and the Proceeds Loan Guarantees pursuant to the Priority Agreement or any Additional Priority Agreement; 

(14) Subordinated Shareholder Loans Incurred by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor; 

(15) Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Restricted Subsidiaries in an
aggregate outstanding principal 

  
 88 

 
amount which, when taken together with any Refinancing Indebtedness in respect thereof and the principal amount of all other Indebtedness Incurred pursuant to this clause (15) and then
outstanding, will not exceed 100% of the Net Cash Proceeds received by the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor from the issuance or sale (other than to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a
Restricted Subsidiary) of its Subordinated Shareholder Loans or Capital Stock or otherwise contributed to the equity of the Company, in each case, subsequent to May 7, 2010 (and in each case, other than through the issuance of Disqualified
Stock, Preferred Stock or an Excluded Contribution); provided, however, that (i) any such Net Cash Proceeds that are so received or contributed shall be excluded for purposes of making Restricted Payments under
Section 4.07(b)(4)(C)(ii), 4.07(b)(4)(C)(iii) and Section 4.07(c)(1) to the extent the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary Incurs Indebtedness in reliance thereon and (ii) any Net
Cash Proceeds that are so received or contributed shall be excluded for purposes of Incurring Indebtedness pursuant to this Section 4.09(c)(15) to the extent the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted
Subsidiary makes a Restricted Payment under Section 4.07(b)(4)(C)(ii), 4.07(b)(4)(C)(iii) and Section 4.07(c)(1) in reliance thereon; 

(16) Indebtedness with Affiliates reasonably required to effect or consummate the Related Transactions; 

(17) in addition to the items referred to in clauses (1) through (16) of this Section 4.09(c), Indebtedness of
the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause
(17) of Section 4.09(c) and then outstanding, will not exceed the greater of (i) €250.0 million and (ii) 5.0% of Total Assets at any time outstanding; and 

(d) For purposes of determining compliance with, and the outstanding principal amount of any particular Indebtedness Incurred pursuant to and
in compliance with, this Section 4.09: 
 (1) in the event that Indebtedness meets the criteria of more than one of the
types of Indebtedness described in Section 4.09(b) and Section 4.09(c), the Company, in its sole discretion, will classify such item of Indebtedness on the date of its incurrence and only be required to include the amount and type of such
Indebtedness in one of such clauses of Section 4.09(b) or Section 4.09(c) and will be permitted on the date of such Incurrence to divide and classify an item of Indebtedness in more than one of the types of Indebtedness described in
Section 4.09(b) and Section 4.09(c), and, from time to time, may reclassify all or a portion of such Indebtedness, in any manner that complies with this Section 4.09; 

(2) guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the
determination of a particular amount of Indebtedness shall not be included; 
 (3) if obligations in respect of letters of
credit are Incurred pursuant to any Credit Facility and are being treated as Incurred pursuant to Section 4.09(c)(1) and the letters of credit relate to other Indebtedness, then such other Indebtedness shall not be included; 

(4) the principal amount of any Disqualified Stock of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, or
Preferred Stock of a Restricted Subsidiary, will be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation preference thereof; 

  
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 (5) Indebtedness permitted by this Section 4.09 need not be permitted solely
by reference to one provision permitting such Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this Section 4.09 permitting such Indebtedness; and 

(6) the amount of Indebtedness issued at a price that is less than the principal amount thereof will be equal to the amount of
the liability in respect thereof determined in accordance with GAAP. 
 Accrual of interest, accrual of dividends, the accretion of accreted
value, the accretion or amortization of original issue discount, the payment of interest or dividends in the form of additional Indebtedness, Preferred Stock or Disqualified Stock and increases in the amount of Indebtedness due to a change in
accounting principles will not be deemed to be an Incurrence of Indebtedness for purposes of this Section 4.09. The amount of any Indebtedness outstanding as of any date shall be (1) the accreted value thereof in the case of any
Indebtedness issued with original issue discount and (2) the principal amount or liquidation preference thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness. 

If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be Incurred
by a Restricted Subsidiary as of such date. 
 For purposes of determining compliance with any euro-denominated restriction on the
Incurrence of Indebtedness, the Euro Equivalent principal amount of Indebtedness denominated in a foreign currency shall be (1) calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the
case of term Indebtedness, or first committed or first Incurred (whichever yields the lower Euro Equivalent), in the case of revolving credit Indebtedness; provided that if such Indebtedness is Incurred to refinance other Indebtedness
denominated in a foreign currency, and such refinancing would cause the applicable euro-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such euro-dominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced and (2) if and for so long as any such
Indebtedness is subject to an agreement intended to protect against fluctuations in currency exchange rates with respect to the currency in which such Indebtedness is denominated covering principal and interest on such Indebtedness, the swapped rate
of such Indebtedness as of the date of the applicable swap. Notwithstanding any other provision of this Section 4.09, the maximum amount of Indebtedness that the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted
Subsidiaries may Incur pursuant to this Section 4.09 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any Indebtedness Incurred to refinance other Indebtedness, if
Incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated that is in effect on the date of such
refinancing. 
 For purposes of determining compliance with Section 4.09(a) and Section 4.09(b), the Euro Equivalent principal
amount of Indebtedness denominated in a foreign currency (if such Indebtedness has not been swapped into euros, or if such Indebtedness has been swapped into a currency other than euros) shall be calculated using the same weighted average exchange
rates for the relevant period used in the consolidated financial statements of the Reporting Entity for calculating the Euro Equivalent of Consolidated EBITDA denominated in the same currency as the currency in which such Indebtedness is denominated
or into which it has been swapped. 

  
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 Section 4.10 Limitation on Sales of Assets and Subsidiary Stock 

(a) The Issuer will not, directly or indirectly, consummate any Issuer Asset Sale. 

(b) The Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor will not, and will not permit any of the Restricted Subsidiaries to,
make any Asset Disposition unless: 
 (1) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted
Subsidiary, as the case may be, receives consideration (including by way of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise) at least equal to the fair market value (such fair market value to
be determined on the date of contractually agreeing to such Asset Disposition), as determined in good faith by the Board of Directors or senior management of the Company (including as to the value of all non-cash consideration), of the shares and
assets subject to such Asset Disposition; 
 (2) unless the Asset Disposition is a Permitted Asset Swap, at least 75% of the
consideration from such Asset Disposition (excluding any consideration by way of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise, other than Indebtedness) received by the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; and 

(3) an amount equal to 100% of the Net Available Cash from such Asset Disposition is applied by the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or such Restricted Subsidiary, as the case may be: 
 (A) to the extent the Company or any
Restricted Subsidiary, as the case may be, elects (or is required by the terms of any Indebtedness), to prepay, repay or purchase Senior Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any other Proceeds Loan
Obligor (including the Proceeds Loan), or Indebtedness of a Restricted Subsidiary that is not a Proceeds Loan Obligor (in each case other than Indebtedness owed to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or an Affiliate of
the Company) within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; provided, however, that, in connection with any prepayment, repayment or purchase of Indebtedness pursuant to this
clause (a), the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor, such Proceeds Loan Obligor or such Restricted Subsidiary will retire such Indebtedness and will cause the related commitment (if any) to be permanently reduced in an amount
equal to the principal amount so prepaid, repaid or purchased; or 
 (B) to the extent the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or such Restricted Subsidiary elects to invest in or commit to invest in Additional Assets within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; provided,
however, that any such reinvestment in Additional Assets made pursuant to a definitive agreement or a commitment approved by the Board of Directors or senior management of the Company that is executed or approved within such time will satisfy
this requirement, so long as such investment is consummated within 6 months of such 365th day; 

  
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 provided that pending the final application of any such Net Available Cash in accordance with clause
(A) or clause (B) of this Section 4.10(b)(3), the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries may temporarily reduce Indebtedness or otherwise invest such Net Available Cash in any
manner not prohibited by this Indenture. 
 (c) Any Net Available Cash from Asset Dispositions that is not applied or invested or committed
to be applied as provided in Section 4.10(b) will be deemed to constitute “Excess Proceeds”. On the 366th day after an Asset Disposition, if the aggregate amount of Excess Proceeds exceeds €250.0 million, the Company,
UPC NL Holdco or the Affiliate Proceeds Loan Obligor will be required to notify the Issuer that it will be required to make an Asset Disposition Offer in accordance with Section 3.11. 

For the purposes of this Section 4.10, the following will be deemed to be cash: 

(1) the assumption by the transferee of Indebtedness (other than Subordinated Obligations) of the Company, UPC NL Holdco or the
Affiliate Proceeds Loan Obligor or Indebtedness of a Restricted Subsidiary and the release of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary from all liability on such Indebtedness in connection with
such Asset Disposition (in which case the Company will, without further action, be deemed to have applied such deemed cash to Indebtedness in accordance with Section 4.10(b)(3)(A); 

(2) securities, notes or other obligations received by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any
Restricted Subsidiary from the transferee that are convertible by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary into cash or Cash Equivalents within 180 days following the closing of such Asset
Disposition; 
 (3) Indebtedness of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such
Asset Disposition, to the extent that the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and each other Restricted Subsidiary are released from any guarantee of payment of the principal amount of such Indebtedness in connection with
such Asset Disposition; 
 (4) consideration consisting of Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds
Loan Obligor or any Restricted Subsidiary; 
 (5) any Designated Non-Cash Consideration received by the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in such Asset Dispositions having an aggregate fair market value not to exceed 25.0% of the consideration from such Asset Disposition (excluding any consideration received from
such Asset Disposition in accordance with clauses (1) to (4) of this Section 4.10(c)) (with the fair market value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to
subsequent changes in value); and 
 (6) in addition to any Designated Non-Cash Consideration received pursuant to clause
(5) of this Section 4.10(c), Designated Non-Cash Consideration received by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary in such Asset Dispositions having an aggregate fair market value, taken
together with all other Designated Non-Cash Consideration received pursuant to this clause (6) that is at that time outstanding, not to exceed the greater of €120.0 million and 5.0% of Total Assets (with the fair market value of each
item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value). 

(d) The Issuer will comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities
laws or regulations in connection with the repurchase of Notes pursuant to this Indenture. To the extent that the provisions of any securities laws or regulations conflict with provisions of this covenant, the Issuer will comply with the applicable
securities laws and regulations and will not be deemed to have breached their obligations under this Indenture by virtue of any conflict. 

  
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 Section 4.11 Limitation on Affiliate Transactions 

(a) The Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor will not, and will not permit any of the Restricted Subsidiaries to,
directly or indirectly, enter into or conduct any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor
(an “Affiliate Transaction”) involving aggregate consideration in excess of €15.0 million for such Affiliate Transactions in any fiscal year, unless: 

(1) the terms of such Affiliate Transaction are not materially less favorable, taken as a whole, to the Company, UPC NL Holdco,
the Affiliate Proceeds Loan Obligor or such Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable transaction at the time of such transaction in arm’s-length dealings with a Person who is not such an
Affiliate; and 
 (2) in the event such Affiliate Transaction involves an aggregate consideration in excess of
€100.0 million, the terms of such transaction have been approved by a majority of the members of the Board of Directors of the Company. 

(b) Section 4.11(a) will not apply to: 

(1) any Restricted Payment permitted to be made pursuant to Section 4.07 or any Permitted Investment; 

(2) any issuance or sale of Capital Stock, options, other equity-related interests or other securities, or other payments,
awards or grants in cash, securities or otherwise pursuant to, or the funding of, or entering into, or maintenance of, any employment, consulting, collective bargaining or benefit plan, program, agreement or arrangement, related trust or other
similar agreement and other compensation arrangements, options, warrants or other rights to purchase Capital Stock of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Parent, restricted stock plans, long-term incentive plans,
stock appreciation rights plans, participation plans or similar employee benefits or consultant plans (including, without limitation, valuation, health, insurance, deferred compensation, severance, retirement, savings or similar plans, programs or
arrangements) and/or indemnities provided on behalf of officers, employees or directors or consultants approved by the Board of Directors of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, in each case in the ordinary course of
business; 
 (3) loans or advances to employees, officers or directors in the ordinary course of business of the Company, UPC
NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries but in any event not to exceed €15.0 million in the aggregate outstanding at any one time with respect to all loans or advances made since the Issue Date;

 (4) (A) any transaction between or among the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and a Restricted
Subsidiary (or an entity that becomes a Restricted Subsidiary in connection with such transaction) or between or among Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary in connection with such transaction) and (B) any
guarantees issued by the Company, 

  
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UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary for the benefit of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary (or an
entity that becomes a Restricted Subsidiary in connection with such transaction), as the case may be, in accordance with Section 4.09; 

(5) transactions with customers, clients, suppliers or purchasers or sellers of goods or services, in each case in the ordinary
course of business and otherwise in compliance with the terms of this Indenture, which, taken as a whole, are fair to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the relevant Restricted Subsidiary in the reasonable
determination of the Board of Directors of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or the senior management of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the relevant Restricted Subsidiary, as
applicable, or are on terms not materially less favorable than those that could reasonably have been obtained at such time from an unaffiliated party; 

(6) loans or advances to any Affiliate of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor by the Company, UPC
NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary, provided that the terms of such loan or advance are fair to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the relevant Restricted Subsidiary, as the
case may be, in the reasonable determination of the Board of Directors or senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or are on terms not materially less favorable than those that could reasonably have been
obtained from an unaffiliated party; 
 (7) the payment of reasonable and customary fees paid to, and indemnity provided on
behalf of, directors of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary; 
 (8)
the performance of obligations of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries under (A) the terms of any agreement to which the Company, UPC NL Holdco, the Affiliate Proceeds Loan
Obligor or any of the Restricted Subsidiaries is a party as of or on the Issue Date or (B) any agreement entered into after the Issue Date on substantially similar terms to an agreement under clause (A) of this Section 4.11(b)(8), in
each case, as these agreements may be amended, modified, supplemented, extended or renewed from time to time; provided, however, that any such agreement or amendment, modification, supplement, extension or renewal to such agreement, in each
case, entered into after the Issue Date will be permitted to the extent that its terms are not materially more disadvantageous to the Holders than the terms of the agreements in effect on the Issue Date; 

(9) sales or other transfers or dispositions of accounts receivable and other related assets customarily transferred in an
asset securitization transaction involving accounts receivable to a Receivables Entity in a Qualified Receivables Transaction, and acquisitions of Permitted Investments in connection with a Qualified Receivables Transaction; 

(10) the issuance of Capital Stock or any options, warrants or other rights to acquire Capital Stock (other than Disqualified
Stock) of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor to any Affiliate; 
 (11) the payment to any
Permitted Holder of all reasonable expenses Incurred by any Permitted Holder in connection with its direct or indirect investment in the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their Subsidiaries and unpaid amounts accrued
for prior periods (but after the Issue Date); 

  
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 (12) the payment to any Parent or Permitted Holder (A) of Management Fees
(i) on a bona fide arm’s length basis in the ordinary course of business or (ii) of up to the greater of €15.0 million and 0.5% of Total Assets in any calendar year, (B) for financial advisory, financing, underwriting
or placement services or in respect of other investment banking activities, including without limitation in connection with acquisitions or divestitures, which payments are approved by a majority of the members of the Board of Directors of the
Company, UPC NL Holdco, or the Affiliate Proceeds Loan Obligor or (C) of Parent Expenses; 
 (13) guarantees of
Indebtedness and other obligations otherwise permitted under this Indenture; 
 (14) if not otherwise prohibited under this
Indenture, the issuance of Capital Stock (other than Disqualified Stock) or Subordinated Shareholder Loans (including the payment of cash interest thereon; provided that, after giving pro forma effect to any such cash interest payment,
the Consolidated Net Leverage Ratio for the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries would not exceed 5.00 to 1.00) of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor to any direct
Parent of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or any Permitted Holder; 
 (15) arrangements
with customers, clients, suppliers, contractors, lessors or sellers of goods or services that are negotiated with an Affiliate, in each case, which are otherwise in compliance with the terms of this Indenture; provided that the terms and
conditions of any such transaction or agreement as applicable to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries, taken as a whole are fair to the Company, UPC NL Holdco, the Affiliate Proceeds Loan
Obligor and the Restricted Subsidiaries and are on terms not materially less favorable to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries than those that could have reasonably been obtained in respect
of an analogous transaction or agreement that would not constitute an Affiliate Transaction (in each case, as determined in good faith by the Board of Directors or the senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan
Obligor); 
 (16) (A) transactions with Affiliates in their capacity as Holders of Indebtedness or Capital Stock of the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary, so long as such Affiliates are not treated materially more favorably than Holders of such Indebtedness or Capital Stock generally, and (B) transactions
with Affiliates in their capacity as borrowers of Indebtedness from the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary, so long as such Affiliates are not treated materially more favorably than Holders of
such Indebtedness generally; 
 (17) any tax sharing agreement or arrangement and payments pursuant thereto between or among
Liberty Global, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any other Person or a Restricted Subsidiary not otherwise prohibited by this Indenture and any payments or other transactions pursuant to a tax sharing agreement
between the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor and any other Person or a Restricted Subsidiary and any other Person with which the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted
Subsidiaries files a consolidated tax return or with which the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries is part of a group for tax purposes (including a fiscal unity) or

  
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any tax advantageous group contribution made pursuant to applicable legislation, provided that any such tax sharing agreement does not permit or require payments in excess of the amounts of tax
that would be payable by the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries on a stand-alone basis; 

(18) transactions relating to the provision of Intra-Group Services in the ordinary course of business; 

(19) any transaction in the ordinary course of business between or among the Company, UPC NL Holdco, the Affiliate Proceeds
Loan Obligor or any Restricted Subsidiary and any Affiliate of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor that is an Unrestricted Subsidiary or a joint venture or similar entity that would constitute an Affiliate Transaction
solely because the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary owns an equity interest in or otherwise controls such Unrestricted Subsidiary, joint venture or similar entity; 

(20) commercial contracts entered into in the ordinary course of business between an Affiliate of the Company, UPC NL Holdco,
the Affiliate Proceeds Loan Obligor or any Restricted Subsidiary that are on arm’s-length terms or on a basis that senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor reasonably believes allocates costs
fairly; and 
 (21) any Related Transaction. 

Section 4.12 Limitation on Liens 

(a) The Issuer will not, directly or indirectly, create, Incur or suffer to exist any Lien (other than Permitted Issuer Liens) upon any of its
property or assets, whether owned on the date of this Indenture or acquired after that date. 
 (b) The Company, UPC NL Holdco and the
Affiliate Proceeds Loan Obligor will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any Lien of any kind securing Indebtedness (other than Permitted Liens) upon any of its
property or assets (including Capital Stock of Restricted Subsidiaries), whether owned on the date of this Indenture or acquired after that date, (such Lien, the “Initial Lien”), unless contemporaneously with the Incurrence of such Initial
Lien effective provision is made to secure the Indebtedness due under the Proceeds Loans equally and ratably with (or prior to, in the case of Liens with respect to Subordinated Obligations) the Indebtedness secured by such Initial Lien for so long
as such Indebtedness is so secured. 
 (c) Any such Lien thereby created in favor of the Proceeds Loans will be automatically and
unconditionally released and discharged upon (a) the release and discharge of the Initial Lien to which it relates, (b) any sale, exchange or transfer to any Person other than the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor
or any Restricted Subsidiary of the property or assets secured by such Initial Lien, (c) the full and final payment of all amounts payable by the Proceeds Loan Borrowers under the Proceeds Loans, or (d) the defeasance or discharge of the
Notes in accordance with Article 8 and Article 12. 
 (d) Notwithstanding the foregoing, the Company, UPC NL Holdco and the Affiliate
Proceeds Loan Obligor will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any Lien on any Proceeds Loan Collateral other than Permitted Collateral Liens. 

  
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 Section 4.13 Corporate Existence 

Subject to Article 5, the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor shall respectively do or cause to be done all things
necessary to preserve and keep in full force and effect: 
  

	 	(1)	its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any such Subsidiary; and 

  

	 	(2)	the rights (charter and statutory), licenses and franchises of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their respective Subsidiaries; provided, however, that none of the
Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor shall be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of their respective Subsidiaries, if the Board of Directors shall
determine that the preservation thereof is no longer desirable in the conduct of the business of the Company, UPC NL Holdco, or the Affiliate Proceeds Loan Obligor and their respective Subsidiaries, taken as a whole, and that the loss thereof is not
adverse in any material respect to the Holders. 

 Section 4.14 Change of Control 

(a) If a Change of Control shall occur at any time, the Issuer shall, pursuant to the procedures described in this Section 4.14,
offer (the “Change of Control Offer”) to purchase all Notes in whole or in part in denominations of €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes, and in denominations of
$200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes, at a purchase price (the “Change of Control Purchase Price”) in cash in an amount equal to 101% of the principal amount of such Notes,
plus any Additional Amounts and accrued and unpaid interest, if any, to the date of purchase (the “Change of Control Purchase Date”) (subject to the rights of Holders of record on relevant record dates to receive interest due on an
Interest Payment Date); provided, however, that the Issuer shall not be obliged to repurchase Notes as described in this Section 4.14 in the event and to the extent that it has unconditionally exercised its right to redeem all of the
Notes pursuant to Section 3.07 or all conditions to such redemption have been satisfied or waived. No such purchase in part shall reduce the principal amount at maturity of the Notes held by any Holder to below €100,000, in the case of the
Euro Notes, and $200,000, in the case of the Dollar Notes. 
 Unless the Issuer has unconditionally exercised its right to redeem all
the Notes as described under Section 3.07 or all conditions to such redemption have been satisfied or waived, within 30 days of any Change of Control, or, at the Issuer’s option, at any time prior to a Change of Control following the
public announcement thereof or if a definitive agreement is in place for the Change of Control, the Issuer shall notify the Trustee thereof and give written notice of such Change of Control to each Holder of Notes stating, to the extent relevant,
among other things: 
 (1) that a Change of Control has occurred (or may occur) and the date (or expected date) of such
event; 
 (2) the circumstances and relevant facts regarding such Change of Control; 

  
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 (3) the purchase price and the purchase date which shall be fixed by the Company
on a Business Day no earlier than 10 days nor later than 60 days from the date such notice is mailed or delivered, or such later date as is necessary to comply with requirements under the Exchange Act; 

(4) that any Note not tendered will continue to accrue interest and unless the Issuer defaults in payment of the Change of
Control Purchase Price, any Notes accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Purchase Date; and 

(5) certain other procedures that a Holder of Notes must follow to accept a Change of Control Offer or to withdraw such
acceptance. 
 If and for so long as the Notes are listed on the Irish Stock Exchange and the guidelines of such Stock Exchange so require,
the Issuer will publish a public announcement with respect to the results of any Change of Control Offer in a leading newspaper of general circulation in Ireland or, to the extent and in the manner permitted by such rules, post such notice on the
official website of the Irish Stock Exchange. 
 The Issuer will comply with the applicable tender offer rules, including Rule 14e-1
under the Exchange Act, and any other applicable securities laws or regulations in connection with a Change of Control Offer. To the extent that the provisions of any applicable securities laws or regulations conflict with the provisions of this
Section 4.14 (other than the obligation to make an offer pursuant to this Section 4.14), the Issuer will comply with the securities laws and regulations and will not be deemed to have breached its obligations described in this
Section 4.14 by virtue thereof. 
 (b) On the Change of Control Purchase Date, the Issuer shall, to the extent lawful: 

(1) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(2) deposit with the Paying Agent, prior to 10:00 a.m. London time an amount equal to the Change of Control Purchase Price in
respect of all Notes or portions of Notes properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the
Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Issuer. 

The Paying Agent will promptly mail (but in any case not later than five days after the Change of Control Purchase Date) to each Holder of
Notes properly tendered the Change of Control Purchase Price for such Notes, and the Authenticating Agent will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note in equal principal amount to any
unpurchased portion of Notes surrendered, if any, to the Holder of Notes in global form or to each Holder of certificated Notes; provided that each such new Note will be in a principal amount of €100,000 or $200,000 and in integral
multiples of €1,000 or $1,000 in excess thereof. The Issuer will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Purchase Date. 

(c) Notwithstanding anything to the contrary in this Section 4.14, the Issuer shall not be required to make a Change of Control Offer
following a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.14 and purchases all Notes validly tendered and
not withdrawn under the Change of Control Offer, or (2) notice of 

  
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redemption has been given pursuant to Section 3.07, unless and until there is a default in payment of the applicable redemption price. Notwithstanding anything to the contrary herein, a
Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer 

(d) If Holders of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in a
Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of the Issuer as described above, purchases all of the Notes validly tendered and not withdrawn by such Holders, the Issuer or such third party will
have the right, upon not less than 10 nor more than 60 days’ prior notice, given not more than 30 days following such purchase pursuant to the Change of Control Offer described above, to redeem all Notes that remain outstanding
following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to but excluding the date of the delivery of the notice for such redemption. 

Section 4.15 Limitation on Issuances of Guarantees of Indebtedness by Restricted Subsidiaries 

(a) The Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor shall not permit any Restricted Subsidiary to, directly or indirectly,
guarantee or otherwise become obligated under any Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any other Proceeds Loan Obligor in an amount in excess of €50 million unless such Restricted Subsidiary is
or becomes an Additional Proceeds Loan Guarantor on the date on which such other guarantee or Indebtedness is Incurred (or as soon as reasonably practicable thereafter); provided that: 

(1) if such Restricted Subsidiary is not a Significant Subsidiary, such Significant Subsidiary shall only be obligated to
guarantee the payment of the Proceeds Loans if such Indebtedness is Indebtedness of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor; 

(2) if the Indebtedness is pari passu in right of payment to the Proceeds Loans, any such guarantee of such Restricted
Subsidiary with respect to such Indebtedness shall rank pari passu in right of payment to its guarantees of the Proceeds Loans; 

(3) if the Indebtedness is subordinated in right of payment to the Proceeds Loans, any such guarantee of such Restricted
Subsidiary with respect to such Indebtedness shall be subordinated in right of payment to the guarantees of the Proceeds Loans substantially to the same extent as such Indebtedness is subordinated in right of payment to the Proceeds Loan; 

(4) a Restricted Subsidiary’s guarantee may be limited in amount to the extent required by fraudulent conveyance, thin
capitalization, corporate benefit, financial assistance or other similar laws (but, in such a case (A) each of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries will use their reasonable best
efforts to overcome the relevant legal limit and will procure that the relevant Restricted Subsidiary undertakes all whitewash or similar procedures which are legally available to eliminate the relevant limit and (B) the relevant guarantee
shall be given on an equal and ratable basis with the guarantee of any other Indebtedness giving rise to the obligation to guarantee the Proceeds Loans); and 

(5) for so long as it is not permissible under applicable law for a Restricted Subsidiary to become a guarantor, such
Restricted Subsidiary need not 

  
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become a guarantor (but, in such a case, each of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries will use their reasonable best efforts to overcome
the relevant legal prohibition precluding the giving of the guarantee and will procure that the relevant Restricted Subsidiary undertakes all whitewash or similar procedures which are legally available to eliminate the relevant legal prohibition,
and shall give such guarantee at such time (and to the extent) that it thereafter becomes permissible). 
 (b) Section 4.15(a) shall
not apply to: (1) the granting by such Restricted Subsidiary of a Permitted Lien under circumstances which do not otherwise constitute the guarantee of Indebtedness of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a
Restricted Subsidiary; or (2) the guarantee by any Restricted Subsidiary of Indebtedness that refinances Indebtedness which benefited from a guarantee by any Restricted Subsidiary Incurred in compliance with Section 4.15 immediately prior
to such refinancing. 
 (c) Notwithstanding the foregoing, any guarantee of the Proceeds Loans created pursuant to the provisions described
in Section 4.15(a) shall provide by its terms that it shall be automatically and unconditionally released and discharged upon the occurrence of any events described in clauses (1) through (10) under Section 10.01. 

Section 4.16 Payments for Consents 

The Issuer, the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor will not, and will not permit any of the Restricted Subsidiaries
to, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture, the Notes, the Proceeds Loans,
the Collateral Sharing Agreement, the Priority Agreement or any Security Document unless such consideration is offered to be paid and is paid to all Holders that consent, waive or agree to amend in the time frame set forth in the solicitation
documents relating to such consent, waiver or agreement. 
 Section 4.17 Impairment of Liens 

(a) The Issuer shall not take or omit to take any action that would have the result of materially impairing any Lien in the Note Collateral
granted under the Note Security Documents (it being understood, subject to the proviso below, that the Incurrence of Permitted Issuer Liens shall under no circumstances be deemed to materially impair any Lien in the Note Collateral granted under the
Note Security Documents) for the benefit of the Trustee, the Security Trustee and the Holders, and the Issuer shall not grant to any Person other than the Security Trustee, for the benefit of the Trustee, the Security Trustee and the Holders and the
other beneficiaries described in the Note Security Documents and the Collateral Sharing Agreement, any interest in any of the Note Collateral, except that (1) the Issuer may Incur Permitted Issuer Liens and (2) the Note Collateral may be
discharged and released in accordance with this Indenture, the Note Security Documents and the Collateral Sharing Agreement; provided however, that, except with respect to any discharge or release of Note Collateral in accordance with this
Indenture, the Note Security Documents or the Collateral Sharing Agreement, in connection with the Incurrence of Liens for the benefit of the Trustee, the Security Trustee and Holders, or the release or replacement of any Note Collateral in
compliance with Section 11.02, no Note Security Document may be amended, extended, renewed, restated, supplemented or otherwise modified or replaced, except that, at the direction of the Issuer and without the consent of the Holders, the
Trustee and the Security Trustee may from time to time (subject to customary protections and indemnifications from the Company) enter into one or more amendments to the Note Security Documents to: (A) cure any ambiguity, omission, manifest
error, defect or inconsistency therein; (B) provide for Permitted Issuer Liens; (C) provide for the release of any Lien on any properties and assets constituting Note Collateral from the Lien of the Note

  
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Security Documents, provided that such release is followed by the substantially concurrent re-taking of a Lien of at least equivalent priority over the same properties and assets securing the
Notes; and (D) make any other change that does not adversely affect the Holders in any material respect, provided that, contemporaneously with any such action in clauses (B), (C) and (D), the Company delivers to the Trustee either
(i) a solvency opinion, in form and substance reasonably satisfactory to the Trustee, from an Independent Financial Advisor confirming the solvency of the Issuer and its Subsidiaries, taken as a whole, after giving effect to any transactions
related to such amendment, extension, renewal, restatement, supplement, modification or replacement, or (ii) a certificate from the responsible financial or accounting officer of the relevant grantor (acting in good faith) which confirms the
solvency of the Person granting such Lien after giving effect to any transactions related to such amendment, extension, renewal, restatement, supplement, modification or replacement or (iii) an Opinion of Counsel, in form and substance
reasonably satisfactory to the Trustee, confirming that, after giving effect to any transactions related to such amendment, extension, renewal, restatement, supplement, modification or replacement, the Lien or Liens created under the Note Security
Documents, as applicable, so amended, extended, renewed, restated, supplemented, modified or replaced are valid and perfected (if such concept is applicable under the jurisdiction where such Lien is granted) Liens not otherwise subject to any
limitation, imperfection or new hardening period, in equity or at law, that such Lien or Liens were not otherwise subject to immediately prior to such amendment, extension, renewal, restatement, supplement, modification or replacement. In the event
that the Issuer complies with the requirements of this covenant, the Trustee shall (subject to customary protections and indemnifications) consent to any such amendment, extension, renewal, restatement, supplement, modification or replacement
without the need for instructions from Holders. 
 (b) The Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor shall not, and
shall not permit any Restricted Subsidiary to, take or omit to take any action that would have the result of materially impairing any Lien in the Proceeds Loan Collateral granted under the Proceeds Loan Collateral Documents (it being understood,
subject to the proviso below, that the Incurrence of Permitted Collateral Liens shall under no circumstances be deemed to materially impair any Lien in the Proceeds Loan Collateral granted under the Proceeds Loan Collateral Documents) for the
benefit of the Issuer as lender under the Proceeds Loans, and the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor shall not, and the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor shall not permit any Restricted
Subsidiary to, grant to any Person other than the Issuer as lender under the Proceeds Loans and the other beneficiaries described in the Proceeds Loan Collateral Documents and the Priority Agreement, any interest in any of the Proceeds Loan
Collateral, except that (1) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries may Incur Permitted Collateral Liens, (2) the Proceeds Loan Collateral may be discharged and released in accordance
with the Proceeds Loans, this Indenture, the Proceeds Loan Collateral Documents and the Priority Agreement, and (3) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries may consummate any other
transaction permitted under Article 5; provided, however, that, except with respect to any discharge or release of Proceeds Loan Collateral in accordance with the Proceeds Loans, this Indenture, the Proceeds Loan Collateral Documents or the Priority
Agreement, in connection with the Incurrence of Liens for the benefit of the Issuer as lender under the Proceeds Loans, or the release or replacement of any Proceeds Loan Collateral in compliance with Section 11.03, no Proceeds Loan Collateral
Document may be amended, extended, renewed, restated, supplemented or otherwise modified or replaced, except that, without the consent of the Holders, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor, the Security Agent and the other
parties thereto may from time to time enter into one or more amendments to the Proceeds Loan Collateral Documents to: (a) cure any ambiguity, omission, manifest error, defect or inconsistency therein; (b) provide for Permitted Collateral
Liens; (c) make any change necessary or desirable, in the good faith determination of the Company in order to implement transactions permitted under Article 5; 

  
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(d) provide for the release of any Lien on any properties and assets constituting Proceeds Loan Collateral from the Lien of the Proceeds Loan Collateral Documents, provided that such release
is followed by the substantially concurrent re-taking of a Lien of at least equivalent priority over the same properties and assets securing the Proceeds Loans; and (e) make any other change that does not adversely affect the Holders in any
material respect, provided that, contemporaneously with any such action in clauses (b), (d) and (e), the Company delivers to the Trustee either (i) a solvency opinion, in form and substance reasonably satisfactory to the Trustee, from an
Independent Financial Advisor confirming the solvency of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their Subsidiaries, taken as a whole, after giving effect to any transactions related to such amendment, extension, renewal,
restatement, supplement, modification or replacement, or (ii) a certificate from the responsible financial or accounting officer of the relevant grantor (acting in good faith) which confirms the solvency of the Person granting such Lien after
giving effect to any transactions related to such amendment, extension, renewal, restatement, supplement, modification or replacement or (iii) an Opinion of Counsel, in form and substance reasonably satisfactory to the Trustee, confirming that,
after giving effect to any transactions related to such amendment, extension, renewal, restatement, supplement, modification or replacement, the Lien or Liens created under the Proceeds Loan Collateral Documents, as applicable, so amended, extended,
renewed, restated, supplemented, modified or replaced are valid and perfected Liens not otherwise subject to any limitation, imperfection or new hardening period, in equity or at law, that such Lien or Liens were not otherwise subject to immediately
prior to such amendment, extension, renewal, restatement, supplement, modification or replacement. 
 Section 4.18 Additional Amounts 

All payments made by the Issuer or any successor thereto (a “Payor”) on or with respect to the Notes will be made without
withholding or deduction for, or on account of, any present or future taxes (including interest penalties to the extent resulting from a failure by the Issuer to timely pay amounts due), duties, assessments or governmental charges of whatever nature
(“Taxes”) unless the withholding or deduction of such Taxes is then required by law or by the official interpretation or administration thereof. If any deduction or withholding for, or on account of, any Taxes imposed or levied by
or on behalf of: 
  

	 	(1)	The Netherlands or any political subdivision or governmental authority thereof or therein having power to tax; 

  

	 	(2)	any jurisdiction from or through which payment on the Notes is made, or any political subdivision or governmental authority thereof or therein having the power to tax; or 

 

	 	(3)	any other jurisdiction in which a Payor is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of
clause (1), (2) and (3), a “Relevant Taxing Jurisdiction”), 

 will at any time be required from any payments made with
respect to the Notes, including payments of principal, redemption price, interest or premium, the relevant Payor will pay (together with such payments) such additional amounts (the “Additional Amounts”) as may be necessary in order
that the net amounts received in respect of such payments by each Holder of the Notes, as the case may be, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts) equal the amounts which would
have been received in respect of such payments in the absence of such withholding or deduction; provided, however, that no such Additional Amounts will be payable with respect to: 

 

	 	(a)	any Taxes that would not have been so imposed but for the existence of any present or former connection between the relevant Holder or beneficial owner and the Relevant Taxing Jurisdiction imposing such Taxes (other
than the mere ownership or holding of such Note or enforcement of rights thereunder or under this Indenture or the receipt of payments in respect thereof); 

  
 102 

	 	(b)	any Taxes that would not have been so imposed if the Holder had made a declaration of non-residence or any other claim or filing for exemption to which it is entitled (provided that (i) such declaration of
non-residence or other claim or filing for exemption is required by the applicable law of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such Taxes and (ii) at
least 30 days prior to the first payment date with respect to which such declaration of non-residence or other claim or filing for exemption is required under the applicable law of the Relevant Taxing Jurisdiction, the relevant Holder at that time
has been notified (in accordance with the procedures set forth in this Indenture) by the relevant Payor or any other Person through whom payment may be made that a declaration of non-residence or other claim or filing for exemption is required to be
made, but only to the extent the Holder is legally entitled to provide such declaration, claim or filing); 

  

	 	(c)	any Note presented for payment (where presentation is required) more than 30 days after the relevant payment is first made available for payment to the Holder (except to the extent that the Holder would have been
entitled to Additional Amounts had the Note been presented during such 30-day period); 

  

	 	(d)	any Taxes that are payable otherwise than by withholding from a payment of the principal of, premium, if any, or interest on the Notes; 

 

	 	(e)	any estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental charge; 

  

	 	(f)	any Taxes withheld or deducted on a payment required to be withheld or deducted pursuant to the European Council Directive 2003/48/EC or any other directive implementing the conclusions of the ECOFIN meeting of November 26-27, 2000 on the taxation of savings income or any law implementing or complying with, or introduced in order to conform to, such directive; 

 

	 	(g)	any Taxes which could have been avoided by the presentation (where presentation is required) of the relevant Note to another Paying Agent in a member state of the European Union; 

 

	 	(h)	all United States backup withholding taxes; 

  

	 	(i)	 any withholding or deduction imposed pursuant to (1) Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986 (as amended), as of the
Issue Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof, (2) any treaty, law, regulation or other
official guidance enacted in any other jurisdiction, or relating to an intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation

  
 103 

	 	
of (1) above or (3) any agreement pursuant to the implementation of (1) or (2) above with the U.S. Internal Revenue Service, the U.S. government or any governmental or
taxation authority in any other jurisdiction; or 

  

	 	(j)	any combination of items (a) through (i) above. 

 Such Additional Amounts will also
not be payable where, had the beneficial owner of the Note been the Holder of the Note, it would not have been entitled to payment of Additional Amounts by reason of any of clauses (a) to (j) inclusive of this Section 4.18. 

The relevant Payor will (1) make any required withholding or deduction and (2) remit the full amount deducted or withheld to the
Relevant Taxing Jurisdiction in accordance with applicable law. The relevant Payor will use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Relevant Taxing
Jurisdiction imposing such Taxes and will provide such certified copies (or, if certified copies are not available despite reasonable efforts of the relevant Payor, other evidence of payment reasonably satisfactory to the Trustee) to each Holder.
The relevant Payor will attach to each certified copy (or other evidence) a certificate stating (a) that the amount of withholding Taxes evidenced by the certified copy was paid in connection with payments in respect of the principal amount of
Notes then outstanding and (b) the amount of such withholding Taxes paid per €1,000 or $1,000 principal amount of the Notes, as the case may be. Copies of such documentation will be available for inspection during ordinary business hours
at the office of the Trustee by the Holders upon request and will be made available at the offices of the Paying Agent if the Notes are then listed on the Luxembourg Stock Exchange. 

At least 30 days prior to each date on which any payment under or with respect to the Notes is due and payable (unless such obligation to pay
Additional Amounts arises shortly before or after the 30th day prior to such date, in which case it shall be promptly thereafter), if the relevant Payor will be obligated to pay Additional Amounts with respect to such payment, the relevant Payor
will deliver to the Trustee an Officer’s Certificate stating the fact that such Additional Amounts will be payable, the amounts so payable and will set forth such other information necessary to enable the Trustee to pay such Additional Amounts
to Holders on the payment date. Each such Officer’s Certificate shall be relied upon until receipt of a further Officer’s Certificate addressing such matters. The Trustee shall be entitled to rely solely on each such Officer’s
Certificate as conclusive proof that such payments are necessary. 
 Wherever mentioned in this Indenture or the Notes, in any context:
(1) the payment of principal, (2) purchase prices in connection with a purchase of Notes, (3) interest, or (4) any other amount payable on or with respect to the Notes, such reference shall be deemed to include payment of
Additional Amounts as described under this heading to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. 

Each Payor will pay and indemnify the Holders of any present or future stamp, court or documentary taxes or any other excise or property
taxes, charges or similar levies (including interest and penalties to the extent resulting from a failure by the Issuer to timely pay amounts due) which arise in any jurisdiction from the execution, delivery or registration of any Notes or any other
document or instrument referred to therein (other than a transfer of the Notes), or the receipt of any payments with respect to the Notes, excluding any such taxes, charges or similar levies imposed by any jurisdiction that is not a Relevant Taxing
Jurisdiction or any jurisdiction in which a Paying Agent is located, other than those resulting from, or required to be paid in connection with, the enforcement of the Notes, the Note Collateral or any other such document or instrument following the
occurrence of any Event of Default with respect to the Notes. 

  
 104 

 The obligations of this Section 4.18 will survive any termination, defeasance or discharge
of this Indenture and will apply mutatis mutandis to any jurisdiction in which any successor to a Payor is organized or any political subdivision or taxing authority or agency thereof or therein. 

Section 4.19 Suspension of Covenants on Achievement of Investment Grade Status 

If, during any period after the Issue Date, the Notes have achieved and continue to maintain Investment Grade Status and no Event of Default
has occurred and is continuing (such period hereinafter referred to as an “Investment Grade Status Period”), then the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Issuer will notify the Trustee of this fact and
beginning on such date, the provisions of Sections 3.11, 4.07, 4.08, 4.09, 4.10, 4.11 and 4.14, and Section 5.01(b)(3) and any related default provisions of this Indenture will be suspended and will not, during such Investment Grade Status
Period, be applicable to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and the Restricted Subsidiaries (or, with respect to Section 4.14., the Issuer). As a result, during any such Investment Grade Status Period, the Notes
will lose a significant amount of the covenant protection initially provided under this Indenture and the Covenant Agreement. No action taken during an Investment Grade Status Period or prior to an Investment Grade Status Period in compliance with
the covenants then applicable will require reversal or constitute a default under the Covenant Agreement, the Indenture or the Notes in the event that suspended covenants are subsequently reinstated or suspended, as the case may be. An Investment
Grade Status Period will terminate immediately upon the failure of the Notes to maintain Investment Grade Status (the “Reinstatement Date”). The Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or the Issuer will promptly
notify the Trustee in writing of any failure of the Notes to maintain Investment Grade Status and the Reinstatement Date. 
 Section 4.20 Further
Instruments and Acts 
 Upon request of the Trustee, but without an affirmative duty on the Trustee to do so, the Issuer shall execute
and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

Section 4.21 Listing 
 The Issuer
will use all reasonable efforts to have the Notes admitted to listing and trading on the Irish Stock Exchange’s GEM within a reasonable period after the Issue Date and will maintain such listing as long as the Notes are outstanding;
provided, however, that if the Issuer can no longer maintain such listing or it becomes unduly burdensome to make or maintain such listing (for the avoidance of doubt, preparation of financial statements in accordance with IFRS (except
pursuant to the definition of GAAP) or any accounting standard other than GAAP and any other standard pursuant to which the Reporting Entity then prepares its financial statements shall be deemed unduly burdensome), the Issuer may cease to make or
maintain such listing on the Irish Stock Exchange provided that the Issuer will use its reasonable best efforts to obtain and maintain the listing of the Notes on another recognized listing exchange for high yield issuers (which may be a stock
exchange that is not regulated by the European Union). 
 Section 4.22 Collateral Sharing Agreement; Additional Collateral Sharing
Agreements. 
 The Trustee will become party to the Collateral Sharing Agreement on or about the Escrow Release Date, and each Holder of
a Note, by accepting such Note, will be deemed to have (1) authorized the Trustee to enter into the Collateral Sharing Agreement, (2) agreed to be bound by all the terms and provisions of the Collateral Sharing Agreement applicable to such
Holder and (3) irrevocably appointed each of the Trustee and the Security Trustee to act on its behalf and to perform the duties and exercise the rights, powers and discretions that are specifically given to them under the Collateral Sharing
Agreement. 

  
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 At the request of the Issuer, in connection with the Incurrence by the Issuer of any Indebtedness
that is permitted to share the Note Collateral pursuant to the definition of Permitted Issuer Lien, the Issuer and the Trustee shall enter into with the Holders of such Indebtedness (or their duly authorized Representatives) a collateral sharing
agreement, including a restatement, accession, amendment or other modification of an existing collateral sharing agreement (an “Additional Collateral Sharing Agreement”), on substantially the same terms as the Collateral Sharing
Agreement (or terms not materially less favorable to the Holders); provided, that such Additional Collateral Sharing Agreement will not impose any personal obligations on the Trustee or adversely affect the personal rights, duties, liabilities or
immunities of the Trustee under this Indenture or the Additional Collateral Sharing Agreement. 
 At the direction of the Issuer and without
the consent of the Holders, the Trustee and the Security Trustee will from time to time enter into one or more amendments to the Collateral Sharing Agreement or any Additional Collateral Sharing Agreement to: (i) cure any ambiguity, omission,
manifest error, defect or inconsistency therein; (ii) add other parties (such as representatives of new issuances of Indebtedness) thereto; (iii) further secure the Notes (including Additional Notes); (iv) make provision for equal and
ratable grants of Liens on the Note Collateral to secure Additional Notes or to implement any Permitted Issuer Liens; (v) make any other change to the Collateral Sharing Agreement or such Additional Collateral Sharing Agreement to provide for
additional Indebtedness (including with respect to any Collateral Sharing Agreement or Additional Collateral Sharing Agreement, the addition of provisions relating to new Indebtedness ranking junior in right of payment to the Notes) or other
obligations that are permitted by the terms of this Indenture to be Incurred and secured by a Lien on the Note Collateral on a senior, pari passu or junior basis with the Liens securing the Notes, (vi) amend the Collateral Sharing
Agreement or any Additional Collateral Sharing Agreement in accordance with the terms thereof or; (vii) implement any transaction in connection with the renewal, extension, refinancing, replacement or increase of any Indebtedness that is
secured by the Note Collateral and that is not prohibited by this Indenture; or (viii) make any other change thereto that does not adversely affect the rights of the Holders in any material respect; provided that no such changes shall be
permitted to the extent they affect the ranking of any Note, enforcement of Liens over the Note Collateral, the application of proceeds from the enforcement of the Note Collateral or the release of any Note Collateral in a manner than would
adversely affect the rights of the Holders in any material respect except as otherwise permitted by this Indenture, the Collateral Sharing Agreement or any Additional Collateral Sharing Agreement immediately prior to such change. The Issuer will not
otherwise direct the Trustee or the Security Trustee to enter into any amendment to the Collateral Sharing Agreement or, if applicable, any Additional Collateral sharing Agreement, without the consent of the Holders of a majority in principal amount
of the outstanding Notes outstanding, except as described above or otherwise permitted under Article 9, and the Issuer may only direct the Trustee and the Security Trustee to enter into any amendment to the extent such amendment does not impose any
personal obligations on the Trustee or Security Trustee or, in the opinion of the Trustee or Security Trustee, adversely affect their respective rights, duties, liabilities or immunities under this Indenture or the Collateral Sharing Agreement or
any Additional Collateral Sharing Agreement. 
 Each Holder of a Note, by accepting such Note, will be deemed to have: 

(a) appointed and authorized the Trustee and the Security Trustee from time to time to give effect to such provisions; 

(b) authorized each of the Trustee and the Security Trustee from time to time to become a party to any Additional Collateral Sharing
Agreement; 

  
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 (c) agreed to be bound by such provisions and the provisions of any Additional Collateral Sharing
Agreement; and 
 (d) irrevocably appointed the Trustee and the Security Trustee to act on its behalf from time to time to enter into and
comply with such provisions and the provisions of any Additional Collateral Sharing Agreement, 
 in each case, without the need for the
consent of the Holders. 
 In relation to the Collateral Sharing Agreement or an Additional Collateral Sharing Agreement, the Trustee shall
consent on behalf of the Holders to the payment, repayment, purchase, repurchase, defeasance, acquisition, retirement or redemption of any obligations subordinated to the Notes thereby; provided, however, that such transaction would comply with
Section 4.07. 
 Section 4.23 Priority Agreement; Additional Priority Agreements 

The Issuer, as lender under the Proceeds Loan, will become party to the Priority Agreement on or about the Escrow Release Date. 

At the request of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, in connection with the Incurrence by a Proceeds Loan
Obligor of any Indebtedness that is permitted to share the Proceeds Loan Collateral pursuant to the definition of Permitted Collateral Lien, the Proceeds Loan Obligors, the Issuer as lender under the Proceeds Loan and the Security Agent shall enter
into with the Holders of such Indebtedness (or their duly authorized Representatives) a priority agreement, including a restatement, accession, amendment or other modification of an existing priority agreement (an “Additional Priority
Agreement”), on substantially the same terms as the Priority Agreement (or terms not materially less favorable to the Issuer as lender under the Proceeds Loans). 

At the direction of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor and without the consent of the Holders, the Issuer as
lender under the Proceeds Loans will from time to time enter into one or more amendments to the Priority Agreement or any Additional Priority Agreement to: (i) cure any ambiguity, omission, manifest error, defect or inconsistency therein;
(ii) add other parties (such as representatives of new issuances of Indebtedness) thereto; (iii) further secure the Proceeds Loans (including Additional Proceeds Loans); (iv) make provision for equal and ratable grants of Liens on the
Proceeds Loan Collateral to secure Additional Proceeds Loans or to implement any Permitted Collateral Liens; (v) make any other change to the Priority Agreement or such Additional Priority Agreement to provide for additional Indebtedness
(including with respect to any Priority Agreement or Additional Priority Agreement, the addition of provisions relating to new Indebtedness ranking junior in right of payment to the Proceeds Loans) or other obligations that are permitted by the
terms of this Indenture to be Incurred and secured by a Lien on the Proceeds Loan Collateral on a senior, pari passu or junior basis with the Liens securing the Proceeds Loans, (vi) add Restricted Subsidiaries to the Priority Agreement
or an Additional Priority Agreement, (vii) amend the Priority Agreement or any Additional Priority Agreement in accordance with the terms thereof or; (viii) make any change necessary or desirable, in the good faith determination of the
Board of Directors or senior management of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor, in order to implement any transaction that is subject to Section 5.01; (ix) implement any transaction in connection with the
renewal, extension, refinancing, replacement or increase of any Indebtedness that is secured by the Proceeds Loan Collateral and that is not prohibited by this Indenture; or (x) make any other change thereto that does not adversely affect the
rights of the Issuer as lender under the Proceeds Loans in any material respect; provided that no such changes shall be permitted to the extent they affect the ranking of the Proceeds Loans, enforcement of Liens over the Proceeds Loan Collateral,
the application of proceeds from the 

  
 107 

 
enforcement of the Proceeds Loan Collateral or the release of any Proceeds Loan Collateral in a manner that would adversely affect the rights of the Issuer as lender under the Proceeds Loans in
any material respect except as otherwise permitted by this Indenture, the Priority Agreement or any Additional Priority Agreement immediately prior to such change. Neither the Company nor UPC NL Holdco will otherwise direct the Issuer as lender
under the Proceeds Loans to enter into any amendment to the Priority Agreement or, if applicable, any Additional Priority Agreement, without the consent of the Holders of a majority in principal amount of the outstanding Notes, except as described
above or otherwise permitted by Article 9. 
 Each Holder of a Note, by accepting such Note, will be deemed to have: 

 

	 	(a)	authorized the Issuer as lender under the Proceeds Loans to become a party to any Additional Priority Agreement; and 

  

	 	(b)	agreed to be bound by such provisions and the provisions of any Additional Priority Agreement, 

in each case, without the need for the consent of the Holders. 

In relation to the Priority Agreement or an Additional Priority Agreement, the Issuer shall consent to the payment, repayment, purchase,
repurchase, defeasance, acquisition, retirement or redemption of any obligations subordinated to the Proceeds Loans thereby; provided, however, that such transaction would comply with Section 4.07. 

Section 4.24 Additional Proceeds Loan Guarantees. 

The Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor may from time to time designate a Restricted Subsidiary or an Affiliate as an
additional guarantor of the Proceeds Loans (an “Additional Proceeds Loan Guarantor”) by causing it to deliver to the Issuer an accession agreement to the Proceeds Loan Agreement. Each Additional Proceeds Loan Guarantor will, jointly
and severally, with each other Proceeds Loan Guarantor, irrevocably guarantee (each guarantee, an “Additional Proceeds Loan Guarantee”), as primary obligor and not merely as surety, on a senior basis, the full and punctual payment when
due, whether at maturity, by acceleration or otherwise, all payment obligations of the Proceeds Loan Borrowers under the Proceeds Loans and the Proceeds Loan Agreement, whether for payment of principal of or interest on or in respect of the Proceeds
Loans, fees, expenses, indemnification or otherwise. 
 Section 4.25 Limitation on Layering. 

No Proceeds Loan Obligor will, directly or indirectly, Incur any Indebtedness that is or purports to be by its terms (or by the terms of any
agreement governing such Indebtedness) subordinated in right of payment to any other Indebtedness of such Proceeds Loan Obligor unless such Indebtedness is also by its terms (or by the terms of any agreement governing such Indebtedness) made
expressly subordinate in right of payment to the Proceeds Loan or the Proceeds Loan Guarantee, as applicable, to the same extent and in the same manner as such Indebtedness is subordinated to such other Indebtedness of such Proceeds Loan Obligor;
provided, however, that no Indebtedness will be deemed to be contractually subordinated in right of payment to any other Indebtedness of a Proceeds Loan Obligor solely by virtue of being unsecured or secured on a junior Lien basis or by virtue of
not being Guaranteed or by virtue of the application of waterfall or other payment ordering provisions affecting different tranches of Indebtedness. 

  
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 Section 4.26 Limitation on Issuer Activities 

(a) Prior to the Ziggo Group Assumption, the Issuer will not engage in any business activity or undertake any other activity, except any
activity: 
 (1) relating to the offering, sale or issuance of the Notes (including the Escrow Deed), any Additional Notes
and any Additional Issuer Debt permitted to be incurred under this Indenture (including the lending of the proceeds of such sale of the Notes, any Additional Notes or any Additional Issuer Debt to one or more Proceeds Loan Obligors); 

(2) undertaken with the purpose of, and directly related to, fulfilling its obligations or exercising its rights under the
Notes, this Indenture, the Note Security Documents, the Proceeds Loans, the Covenant Agreement, the Collateral Sharing Agreement, the Priority Agreement, any Proceeds Loan Collateral Documents or any other document relating to the Notes, the
Additional Notes, the Proceeds Loans, any Additional Proceeds Loans or any other Additional Issuer Debt permitted to be incurred under this Indenture; 

(3) directly related to or reasonably incidental to the establishment and maintenance of the Issuer’s corporate existence;

 (4) directly related to investing amounts received by the Issuer (other than amounts not corresponding to required
payments under the Notes) in such manner not otherwise prohibited by this Indenture; 
 (5) other transactions of a type
customarily entered into by orphan financing companies; 
 (6) directly related to or reasonably incidental to the ownership
of the shares of its Subsidiaries and conducting activities related to, or reasonably incidental to, the establishment or maintenance of its or its Subsidiaries’ corporate existence; 

(7) directly related to or reasonably incidental to other activities not specifically enumerated above that are de minimis in
nature or that are of the same nature as activities exercised by the Issuer on the Issue Date; 
 (8) directly related to the
making of Permitted Issuer Investments and Permitted Issuer Maintenance Payments and the granting of Permitted Issuer Liens; or 

(9) directly related to or reasonably incidental to the Ziggo Group Combination. 

On the Escrow Release Date, the Issuer will loan all of the proceeds of the offering of the Notes issued on the Issue Date to one or more of
the Proceeds Loan Borrowers pursuant to the Proceeds Loans. 
 (b) Prior to the Ziggo Group Assumption, the Issuer will not: 

(1) issue any Capital Stock (other than to the SPV Parent); 

(2) take any action which would cause it to no longer satisfy the requirements of an available exemption from the provisions of
the U.S. Investment Company Act of 1940, as amended; 
 (3) commence or take any action or facilitate a winding-up,
liquidation, dissolution or other analogous proceeding; 
 (4) amend its constitutive documents in any manner which would
adversely affect the rights of Holders in any material respect; or 
 (5) transfer or assign any of its rights under a
Proceeds Loan, except pursuant to the Note Security Documents. 

  
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 (c) Except as otherwise provided in this Indenture, the Issuer will take all actions that are
necessary and within its power to prohibit the transfer of the issued shares in the Issuer by the SPV Parent, other than pursuant to the Issuer Share Pledge or the enforcement of the Issuer Share Pledge in accordance with the Collateral Sharing
Agreement. 
 (d) Prior to the Ziggo Group Assumption, for so long as any Notes are outstanding, the Issuer will take any action reasonably
necessary to maintain its status as a disregarded entity for U.S. Federal tax purposes. 
 (e) Subject to the Collateral Sharing Agreement,
whenever the Issuer receives a payment or prepayment under the Proceeds Loans, it shall use the funds received solely to satisfy its obligations (to the extent of the amount owing in respect of such obligations) under this Indenture (including any
premium payable to Holders). 
 Section 4.27 Assumption of Note Obligations by the Fold-In Issuer following the Ziggo Group Combination. 

(a) At any time after the Escrow Release Date, a Proceeds Loan Obligor may, at its sole option and in its sole discretion, instruct the Issuer
upon no less than 5 days’ notice, and the Issuer shall provide no less than 5 days’ notice to the Trustee, that the Ziggo Group Combination has occurred or will occur and that the Fold-In Issuer will assume all of the obligations of the
Issuer under the Notes and this Indenture and such assumption will be a deemed repayment in full and cancellation of the obligations of the Proceeds Loan Obligors under the Proceeds Loan (such assumption referred to herein as the “Ziggo
Group Assumption”). 
 (b) The Ziggo Group Assumption is subject to the following conditions: 

(1) the Ziggo Group Combination has occurred or will occur on or before the date of the Ziggo Group Assumption; 

(2) each of the Proceeds Loan Obligors (or their successors) that remain following the Ziggo Group Combination (the
“Notes Guarantors”) will, jointly and severally, irrevocably guarantee (each guarantee, a “Note Guarantee”), as primary obligor and not merely as surety, on a senior basis, the full and punctual payment when due,
whether at maturity, by acceleration or otherwise, all payment obligations of the Fold-In Issuer under the Notes, whether for payment of principal of or interest on or in respect of the Notes, fees, expenses, indemnification or otherwise; 

(3) the Issuer, the Trustee, the Security Agent, the Fold-In Issuer, the Security Trustee and the Notes Guarantors will execute
a supplemental indenture, accession agreement or other similar agreement (in a form attached as Exhibit F) (the “Accession Agreement”) and a Note accession as provided for in each Note to effect the Ziggo Group Assumption and
the Note Guarantees; and 
 (4) on the Ziggo Group Assumption Date, the Trustee, acting on behalf of the Holders, will accede
to the Priority Agreement and the Fold-In Issuer will procure that the obligations under the Notes and this Indenture are secured by the Proceeds Loan Collateral remaining following the Ziggo Group Combination (the “Fold-In
Collateral” and the documents governing the Fold-In Collateral, the “Fold-In Collateral Documents”). 

  
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 (c) Upon consummation of the Ziggo Group Assumption: 

(1) the Fold-In Issuer will succeed to, and be substituted for, and may exercise every right of the Issuer under this
Indenture, and upon such substitution, the predecessor Issuer will be released from its obligations under this Indenture and the Notes; 

(2) the Security Agent will accede to this Indenture as Security Agent and the Security Trustee will be released from its
obligations under this Indenture and the Notes; and 
 (3) the terms and conditions of the Notes, including the covenants,
will be automatically modified and Articles 1 through 12 (inclusive) of this Indenture will be replaced in their entirety by Articles 1 through 12 (inclusive) set forth in Exhibit H. 

(d) By accepting a Note, each Holder will be deemed to have irrevocably: 

(1) agreed to the Ziggo Group Assumption as set forth in this Section 4.27 and irrevocably authorized and directed the
Trustee to take all necessary actions to effectuate the Ziggo Group Assumption unless prohibited under this Indenture; 
 (2)
agreed and accepted the terms and conditions of the Priority Agreement; 
 (3) appointed the Security Agent to
(A) perform the duties and exercise the rights, powers and discretions that are specifically given to it under the Priority Agreement or the Fold-In Collateral Documents, together with any other incidental rights, power and discretions; and
(B) execute each Fold-In Collateral Document, waiver, modification, amendment, renewal or replacement expressed to be executed by the Security Agent on its behalf. 

ARTICLE 5. 
 SUCCESSORS 

Section 5.01 Merger and Consolidation 

(a) The Issuer will not consolidate with, or merge with or into, or convey, transfer or lease all or substantially all of its assets to, any
Person 
 (b) Neither Proceeds Loan Borrower will consolidate with, or merge with or into, or convey, transfer or lease all or substantially
all of their assets to, any Person, unless: 
 (1) the resulting, surviving or transferee Person (the “Successor
Company”) will be a corporation, partnership, trust or limited liability company organized and existing under the laws of any member of the state of the European Union that is a member of the European Union on the date of this Indenture,
Bermuda, the Cayman Islands, or the United States of America, any State of the United States or the District of Columbia and the Successor Company (if not the relevant Proceeds Loan Borrower will expressly assume all the obligations of such Proceeds
Loan Borrower, under the applicable Proceeds Loan and the Covenant Agreement; 
 (2) immediately after giving effect to such
transaction (and treating any Indebtedness that becomes an obligation of the Successor Company or any Subsidiary of the Successor Company as a result of such transaction as having been Incurred by the Successor Company or such Subsidiary at the time
of such transaction), no Default or Event of Default shall have occurred and be continuing; 
 (3) either
(A) immediately after giving effect to such transaction, the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor, or such 

  
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Successor Company, would be able to Incur at least an additional €1.00 of Pari Passu Indebtedness pursuant to Section 4.09(b) or (B) the Consolidated Net Leverage Ratio of the
Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor, or such Successor Company, would be no greater than that of the Company, UPC NL Holdco and the Affiliate Proceeds Loan Obligor immediately prior to giving effect to such transaction;
and 
 (4) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that such consolidation, merger or transfer complies with this Indenture; provided that in giving such opinion, such counsel may rely on an Officer’s Certificate as to compliance with Sections 5.01(b)(2) and 5.01(b)(3) above and
as to any matters of fact. 
 (c) No Proceeds Loan Obligor (other than the Proceeds Loan Borrowers) will consolidate with, or merge with or
into, or convey, transfer or lease all or substantially all of their assets to, any Person, other than a Proceed Loan Obligor (other than in connection with a transaction that does not constitute an Asset Disposition or a transaction that is
permitted under Section 4.10; unless: 
 (1) immediately after giving effect to such transaction, no Default or
Event of Default shall have occurred and be continuing; and 
 (2) either: 

(A) the Person acquiring the property in any such sale or disposition or the Person formed by or surviving any such
consolidation or merger will expressly assume all the obligations of the Proceeds Loan Obligor under the applicable Proceeds Loan Guarantee and the Covenant Agreement; or 

(B) the Net Cash Proceeds of such transaction are applied in accordance with the applicable provisions of this Indenture. 

(d) For purposes of this Section 5.01, the sale, lease, conveyance, assignment, transfer, or other disposition of all or substantially
all of the properties and assets of one or more Subsidiaries of the Company, one or more Subsidiaries of UPC NL Holdco or one or more Subsidiaries of the Affiliate Proceeds Loan Obligor (as applicable), which properties and assets, if held by the
Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor (as applicable) instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor
(as applicable) on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor (as applicable). 

(e) The Successor Company will succeed to, and be substituted for, and may exercise every right and power of, the Company, UPC NL Holdco or
the Affiliate Proceeds Loan Obligor (as applicable) under this Indenture, and upon such substitution, the predecessor Company will be released from its obligations under this Indenture and the Notes or the Note Guarantee (as applicable), but, in the
case of a lease of all or substantially all its assets, the predecessor company will not be released from the obligation to pay the principal of and interest on the Proceeds Loans. 

(f) The provisions set forth in this Section 5.01 shall not restrict (and shall not apply to): (1) any merger, consolidation or
transfer of assets reasonably required to effect or consummate any Related Transaction (provided that, for the purposes of this clause (1), Section 5.01(b)(1) shall apply to any such transaction); (2) any Restricted Subsidiary from
consolidating with, merging or liquidating into or transferring all or substantially all of its 

  
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properties and assets to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any other Restricted Subsidiary and; and (3) the Company, UPC NL Holdco or the Affiliate Proceeds
Loan Obligor consolidating into or merging or combining with an Affiliate incorporated or organized for the purpose of changing the legal domicile of such entity, reincorporating such entity in another jurisdiction, or changing the legal form of
such entity, provided that, for the purposes of this clause (3), Sections 5.01(b)(1), 5.01(b)(2) and 5.01(b)(4) shall apply to any such transaction. 

Section 5.02 Successor Corporation Substituted 

Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the
properties or assets of the Issuer in a transaction that is subject to, and that complies with the provisions of, Section 5.01, the successor Person formed by such consolidation or into or with which the Issuer is merged or to which such sale,
assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the
provisions of this Indenture referring to the “Issuer” shall refer instead to the successor Person and not to the Issuer), and may exercise every right and power of the Issuer under this Indenture with the same effect as if such successor
Person had been named as the Issuer herein; provided, however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of and interest on the Notes except in the case of a sale of all of the Issuer’s
assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01. 
 ARTICLE 6. 

DEFAULTS AND REMEDIES 
 Section 6.01
Events of Default 
 (a) Each of the following is an “Event of Default”: 

(1) default in any payment of interest or Additional Amounts on any Note when due, which has continued for 30 days; 

(2) default in the payment of principal of or premium, if any, on any Note when due at its Stated Maturity, upon optional
redemption, upon required repurchase, upon mandatory redemption subject to 3.08 or otherwise; 
 (3) failure by the Issuer,
the Company or any other Proceeds Loan Obligor to comply for 60 days after notice specified in this Indenture with its other agreements contained in the Notes or this Indenture; provided, however, that the Issuer or the Company, as applicable, shall
have 90 days after receipt of such notice to remedy, or receive a waiver for, any failure to comply with the obligations to file annual, quarterly and current reports, as applicable, in accordance with Section 4.03 so long as the Issuer or the
Company, as applicable, is attempting to cure such failure as promptly as reasonably practicable; 

  
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 (4) default under any mortgage, indenture or instrument under which there may be
issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries (or the payment of which is guaranteed by
the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any of the Restricted Subsidiaries), other than Indebtedness owed to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary, whether such
Indebtedness or guarantee now exists, or is created after the Issue Date, which default: 
 (A) is caused by a failure to pay
principal of such Indebtedness at its Stated Maturity after giving effect to any applicable grace period provided in such Indebtedness (“payment default”); or 

(B) results in the acceleration of such Indebtedness prior to its maturity (the “cross acceleration provision”); 

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which
there has been a payment default or the maturity of which has been so accelerated, aggregates €75.0 million or more; 

(5) 

(A) there shall have been the entry by a court of competent jurisdiction of (i) a decree or order for relief in respect of
the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited Consolidated financial statements delivered to the Holders
pursuant to Section 4.03), would constitute a Significant Subsidiary in an involuntary case or proceeding under any applicable Bankruptcy Law or (ii) a decree or order adjudging the Issuer, the Company, UPC NL Holdco, the Affiliate
Proceeds Loan Obligor or any such Significant Subsidiary or group of Restricted Subsidiaries bankrupt or insolvent, or seeking moratorium, reorganization, arrangement, adjustment or composition of or in respect of the Issuer, the Company, UPC NL
Holdco, the Affiliate Proceeds Loan Obligor or any such Significant Subsidiary or group of Restricted Subsidiaries under any applicable Bankruptcy Law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator (or other
similar official) of the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any such Significant Subsidiary or group of Restricted Subsidiaries or of any substantial part of their respective properties, or ordering the
winding up or liquidation of their affairs, and any such decree or order for relief shall continue to be in effect, or any such other decree or order shall be unstayed and in effect, for a period of 60 consecutive days; 

(B) the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Significant Subsidiary or group of
Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary commences a voluntary case or proceeding
under any applicable Bankruptcy Law or any other case or proceeding to be adjudicated bankrupt or insolvent, or files for or has been granted a moratorium on payment of its debts or files for bankruptcy or is declared bankrupt, 

(C) the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Significant Subsidiary or group of
Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary consents to the entry of a decree or order
for relief in respect of the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such Significant Subsidiary or group of Restricted Subsidiaries in an involuntary case or proceeding under any applicable Bankruptcy Law or to
the commencement of any bankruptcy or insolvency or proceeding against it, 

  
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 (D) the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor
or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary
files a petition or answer or consent seeking reorganization or relief under any applicable Bankruptcy Law (other than a solvent reorganization for purposes of transferring assets among the Company and the Restricted Subsidiaries), 

(E) the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Significant Subsidiary or group of
Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary (i) consents to the filing of such
petition or the appointment of, or taking possession by, an administrator, custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or such
Significant Subsidiary or group of Restricted Subsidiaries or of any substantial part of their respective properties, (ii) makes an assignment for the benefit of creditors or (iii) admits in writing its inability to pay its debts generally
as they become due, 
 (F) the whole or any substantial part of the assets of the Issuer, the Company, UPC NL Holdco, the
Affiliate Proceeds Loan Obligor or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would
constitute a Significant Subsidiary have been placed under administration, or 
 (G) the Issuer, the Company, UPC NL Holdco,
the Affiliate Proceeds Loan Obligor or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would
constitute a Significant Subsidiary takes any corporate action in furtherance or any such actions in sub-clauses (B) through (F) of Section 6.01(a); or 

(6) failure by the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any Significant Subsidiary or
group of Restricted Subsidiaries that, taken together (as of the latest audited Consolidated financial statements delivered to Holders pursuant to Section 4.03 for the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor and their
Restricted Subsidiaries), would constitute a Significant Subsidiary, to pay final judgments aggregating in excess of €75.0 million (net of any amounts that a solvent insurance company has acknowledged liability for), which judgments are
not paid, discharged or stayed for a period of 60 days (the “judgment default provision”); 
 (7) any Proceeds Loan
or Proceeds Loan Guarantee ceases to be in full force and effect (except in accordance with the terms of this Indenture) or is declared invalid or unenforceable in a judicial proceeding and such Default continues for 30 days after the notice
specified in this Indenture (the “guarantee failure provision”); or 
 (8) any Lien in the Proceeds Loan Collateral
created under Proceeds Loan Collateral Documents having a fair market value of in excess of €100.0 million, or any Lien in the Note Collateral created under the Note Security Documents, (a) at any time, ceases to be in full force and
effect in any material respect for any reason other than as a result of its release in accordance with this Indenture and the Note Security Documents or the Proceeds Loan Collateral Documents, as applicable, or

  
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(b) is declared invalid or unenforceable in a judicial proceeding and, in each case, and such Default continues for 60 days after the notice specified in this Indenture (the
“collateral failure provision”); 
 (9) failure by the Issuer to comply with any term of the Escrow Deed that is
not cured within 10 days to the extent such non-compliance would reasonably be expected to materially and adversely impact the Holders; or 

(10) the Escrow Deed or any other security document or any Lien purported to be granted thereby on the Escrow Account or the
cash or Investments permitted under the Escrow Deed therein is held in any judicial proceeding to be unenforceable or invalid, in whole or in part, or ceases for any reason (other than pursuant to a release that is delivered or becomes effective as
set forth in this Indenture) to be fully enforceable and which creates a valid and enforceable Lien. 
 In the event the occurrence of any
Default or Event of Default described in Section 6.01(a)(3) with respect to any covenant, agreement or undertaking in this Indenture or the Notes applicable to any Proceeds Loan Obligor, such Proceeds Loan Obligor will be deemed to be in
default of its corresponding obligations under the Covenant Agreement. 
 (b) A default under clause (3), (7) (8), (9) or
(10) of Section 6.01(a) will not constitute an Event of Default until the Trustee or the Holders of 25% in principal amount of the outstanding Notes notify the Company of the default and the Company does not cure such default within the
time specified in such clause (3), (7), (8), (9) or (10) of Section 6.01(a) after receipt of such notice. 
 Section 6.02
Acceleration 
 If an Event of Default (other than an Event of Default described in Section 6.01(a)(5)) occurs and is continuing,
the Trustee by notice to the Issuer, or the Holders of at least 25% in principal amount of the outstanding Notes by notice to the Issuer and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal of, premium,
if any, and accrued and unpaid interest, if any, and Additional Amounts, if any, on all the Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and unpaid interest and Additional Amounts, if any, will be due and
payable immediately. In the event of a declaration of acceleration of the Notes because an Event of Default described in Section 6.01(a)(4) has occurred and is continuing, the declaration of acceleration of the Notes shall be automatically
annulled if the event of default or payment default triggering such Event of Default pursuant to Section 6.01(a)(4) shall be remedied or cured by the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted
Subsidiary or waived by the Holders of the relevant Indebtedness within 20 days after the declaration of acceleration with respect thereto and if (a) the annulment of the acceleration of the Notes would not conflict with any judgment or decree
of a court of competent jurisdiction and (b) all existing Events of Default, except non-payment of principal, premium or interest and Additional Amounts, if any, on the Notes that became due solely because of the acceleration of the Notes, have
been cured or waived. If an Event of Default described in Section 6.01(a)(5) occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest and Additional Amounts, if any, on all the Notes will become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the outstanding Notes may waive all past defaults (except with respect to non-payment of
principal, premium, interest or Additional Amounts) and rescind any such acceleration with respect to the Notes and its consequences if (A) rescission would not conflict with any judgment or decree of a court of competent jurisdiction,
(B) all existing Events of Default, other than the non-payment of the principal of, premium, if any, interest and Additional Amounts, if any, on the Notes that have become due solely by such declaration of acceleration, have been cured or
waived; and (C) the Issuer has paid the Trustee its compensation and reimbursed the Trustee for its properly incurred expenses, disbursements and advances. 

  
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 Whenever payment under the Notes has been accelerated due to an Event of Default under this
Indenture, the Issuer as lender under the Proceeds Loan shall, by immediate notice to the applicable Proceeds Loan Borrower: 
 (1) declare
that an event of default under the Proceeds Loan has occurred; and 
 (2) declare that all amounts outstanding under the Proceeds Loan are
immediately due and payable. 
 If such acceleration of the Notes is annulled or rescinded, the Issuer shall rescind any acceleration of the
Proceeds Loans by immediate notice to the applicable Proceeds Loan Borrower. 
 Section 6.03 Other Remedies 

If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if
any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 
 The Trustee may maintain a
proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not
impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law. 

Section 6.04 Waiver of Past Defaults 

Holders of not less than a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may on behalf of the
Holders of all of the Notes waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium, if any, or interest on, the Notes (including in
connection with an offer to purchase); provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration and its consequences, including any related payment
default that resulted from such acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other Default or impair any right consequent thereon. 
 Prior to taking any action hereunder, the Trustee shall be
entitled to indemnification or other security satisfactory to it in its sole discretion against all losses, liabilities and expenses caused by taking or not taking such action. 

Section 6.05 Control by Majority 

Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any
proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or that may involve the Trustee in
personal liability. 

  
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 Section 6.06 Limitation on Suits 

A Holder may pursue a remedy with respect to this Indenture or the Notes only if: 

 

	 	(1)	such Holder of Notes has previously given the Trustee written notice that an Event of Default is continuing; 

  

	 	(2)	Holders of at least 50% in principal amount of the outstanding Notes have requested the Trustee to pursue the remedy; 

  

	 	(3)	such Holders have offered the Trustee security, indemnity or prefunding satisfactory to the Trustee against any loss, liability or expense; 

 

	 	(4)	the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity; and 

 

	 	(5)	the Holders of a majority in principal amount of the outstanding Notes have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

 A Holder of a Note may not use this Indenture to prejudice the rights of
another Holder of a Note or to obtain a preference or priority over another Holder of a Note. 
 Section 6.07 Rights of Holders to Receive
Payment 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of principal,
premium, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates,
shall not be impaired or affected without the consent of the Holders of not less than 90% in aggregate principal amount of the Notes. 
 Section 6.08
Collection Suit by Trustee 
 If an Event of Default specified in Section 6.01(a)(1) or Section 6.01(a)(2) occurs and is
continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount of principal of, premium, if any, and interest remaining unpaid on, the Notes and interest on
overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the properly incurred compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel. 
 Section 6.09 Trustee May File Proofs of Claim 

The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the properly incurred compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Issuer
(or any other obligor upon the Notes), their creditors or their property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such
judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be
paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or

  
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otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.10 Priorities 
 Subject to
the terms of the Collateral Sharing Agreement, if the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order: 

First: to the Trustee, the Security Trustee and the Agents, and their agents and attorneys for amounts due under
Section 7.07, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second: to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any and interest, respectively; and 

Third: to the Issuer or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 

Section 6.11 Undertaking for Costs 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant
to Section 6.07, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes. 
 Section 6.12 Restoration
of Rights and Remedies 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture
and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding (which shall not for the avoidance
of doubt be rendered invalid or annulled by this Section 6.12), the Issuer, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and
the Holders shall continue as though no such proceeding had been instituted. 
 Section 6.13 Rights and Remedies Cumulative 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.07
hereof, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy. 

  
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 ARTICLE 7.

TRUSTEE 
 Section 7.01 Duties of
Trustee 
 (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in
it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(1) the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee will examine the certificates and opinions to determine whether or not
they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy or mathematical calculations or other facts stated therein). 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this Section 7.01(c) does not limit the effect of Section 7.01(b); 

(2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee will not be liable with respect to
any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.02 or Section 6.05. 

(d) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to
clauses (a), (b), and (c) of this Section 7.01. 
 (e) No provision of this Indenture will require the Trustee to expend or risk
its own funds or incur any liability. The Trustee will be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has offered to the Trustee indemnity, security or
prefunding satisfactory to the Trustee against any loss, liability or expense. 
 (f) The Trustee will not be liable for interest on any
money received by it except as the Trustee may agree in writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) In no event shall the Trustee or any Agent be liable for any Losses arising in regards to the Trustee or any Agent receiving or
transmitting any data from the Issuer, any Authorized Person or any party to the transaction via any non-secure method of transmission or communication, such as, but without limitation, by facsimile or e-mail. 

  
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 Section 7.02 Rights of Trustee 

(a) The Trustee and each agent acting on its instructions may conclusively rely upon any document believed by it to be genuine and to have been
signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document (regardless of whether any such document is subject to any monetary or other limit). 

(b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The
Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The Trustee may consult with counsel or any other professional advisors and the written advice of
such counsel or any Opinion of Counsel will be full and complete protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any agent appointed
with due care. 
 (d) The Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be
authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided in this
Indenture, any demand, request, direction or notice from the Issuer will be sufficient if signed by an Officer of the Issuer. 
 (f) The
Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it
against the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction. 
 (g) The Trustee
shall have no duty to inquire as to the performance of the covenants of the Issuer and/or its Restricted Subsidiaries in Article 4. In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of Default except:
(1) any Event of Default occurring pursuant to Section 6.01(a)(1) or Section 6.01(a)(2) (provided it is acting as Paying Agent); and (2) any Default or Event of Default of which a Responsible Officer shall have received written
notification. Delivery of reports, information and documents to the Trustee under Section 4.03 is for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Issuer’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

(h) The Trustee shall not have any obligation or duty to monitor, determine or inquire as to compliance, and shall not be responsible or
liable for compliance with restrictions on transfer, exchange, redemption, purchase or repurchase, as applicable, of minimum denominations imposed under this Indenture or under applicable law or regulation with respect to any transfer, exchange,
redemption, purchase or repurchase, as applicable, of any interest in any Notes. 

  
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 (i) The rights, privileges, protections, immunities and benefits given to the Trustee, including,
but not limited to, its right to be indemnified and rights to compensation, are extended to, and shall be enforceable by Deutsche Trustee Company Limited in each of its capacities hereunder, Deutsche Bank Trust Company Americas, Deutsche Bank AG,
London Branch, and by Deutsche Bank Luxembourg S.A. and each agent, custodian and other person employed to act hereunder. Absent willful misconduct or negligence, each Paying Agent and Transfer Agent shall not be liable for acting in good faith on
instructions believed by it to be genuine and from the proper party. 
 (j) The Trustee will not be liable to any person if prevented or
delayed in performing any of its obligations or discretionary functions under this Indenture by reason of any present or future law applicable to it, by any governmental or regulatory authority or by any circumstances beyond its control. 

(k) The Trustee shall not be liable for any consequential loss (being loss of business, goodwill, opportunity or profit of any kind) of the
Issuer, Successor Company, the Ultimate Parent or any Restricted Subsidiary. 
 (l) The Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee,
in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Issuer personally or by agent or attorney. 
 (m) In the event the Trustee receives inconsistent or conflicting requests and
indemnity from two or more groups of Holders, each representing less than a majority in aggregate principal amount of the Notes then outstanding, pursuant to the provisions of this Indenture, the Trustee, in its sole discretion, may determine what
action, if any, will be taken and shall not incur any liability for its failure to act until such inconsistency or conflict is, in its reasonable opinion, resolved. 

(n) The Trustee may request that the Issuer delivers an Officer’s Certificate setting forth the names of the individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person specified as so authorized in
any such certificate previously delivered and not superseded. 
 (o) In no event shall the Trustee be responsible or liable for any failure
or delay in the performance of its obligations hereunder arising out of or caused by acts of war or terrorism involving the United States, the United Kingdom or any member state of the European Monetary Union or any other national or international
calamity or emergency (including natural disasters or acts of God), it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable
under the circumstances. 
 (p) The Trustee is not required to give any bond or surety with respect to the performance or its duties or the
exercise of its powers under this Indenture or the Notes. 
 (q) The permissive right of the Trustee to take the actions permitted by this
Indenture shall not be construed as an obligation or duty to do so. 
 (r) The Trustee shall have the right to accept and act upon
Instructions, including with respect to fund transfers given pursuant to this Indenture and delivered using Electronic Means. If the Issuer elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to
act upon such Instructions, the Trustee’s understanding of 

  
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such Instructions shall be deemed controlling. The Issuer understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee
shall conclusively presume that directions that purport to have been sent by an Authorized Person have been sent by such Authorized Person. The Issuer shall be responsible for ensuring that only Authorized Persons transmit such Instructions to the
Trustee and that the Issuer and all Authorized Persons are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Issuer. The Trustee shall not
be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent Written Instruction
not delivered by Electronic Means. The Issuer agrees: (1) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized
Instructions, and the risk of interception and misuse by third parties; (2) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions by Electronic Means to the Trustee and that
there may be more secure methods of transmitting Instructions than the method(s) selected by the Issuer; (3) that the security procedures (if any) to be followed in connection with its transmission of Instructions by Electronic Means provide to
it a commercially reasonable degree of protection in light of its particular needs and circumstances; and (4) use its reasonable commercial efforts to notify the Trustee upon learning of any compromise or unauthorized use of the security
procedures. 
 (s) The parties hereto accept that some methods of communication are not secure and neither the Trustee, the Security Trustee
nor any Agent shall incur any liability for receiving Instructions via any such non-secure method. The Trustee, the Security Trustee or any Agent is authorized to comply with and rely upon any such notice, Instructions or other communications
believed by it to have been sent or given by an Authorized Person or an appropriate party to the transaction (or authorized representative thereof). The Issuer or authorized officer of the Issuer shall use all reasonable efforts to ensure that
Instructions transmitted to the Trustee, the Security Trustee or any Agent pursuant to this Indenture are complete and correct. Any Instructions shall be conclusively deemed to be valid Instructions from the Issuer or authorized officer of the
Issuer to the Trustee, the Security Trustee or any Agent for the purposes of this Indenture. 
 (t) The Trustee may refrain from taking any
action in any jurisdiction if the taking of such action in that jurisdiction would, in its opinion, based upon legal advice in the relevant jurisdiction, be contrary to any law of that jurisdiction or, to the extent applicable, the State of New
York. 
 (u) At any time that the security granted pursuant to the Note Security Documents has become enforceable and the Holders have given
a direction to the Trustee to enforce such security, the Trustee is not required to give any direction to the Security Trustee with respect thereto unless it has been indemnified and/or secured in accordance with Section 7.01(e). In any event,
in connection with any enforcement of such security, the Trustee is not responsible for: 
 (1) any failure of the Security
Trustee to enforce such security within a reasonable time or at all; 
 (2) any failure of the Security Trustee to pay over
the proceeds of enforcement of the Note Collateral; 
 (3) any failure of the Security Trustee to realize such security for
the best price obtainable; 

  
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 (4) monitoring the activities of the Security Trustee in relation to such
enforcement; 
 (5) taking any enforcement action itself in relation to such security; 

(6) agreeing to any proposed course of action by the Security Trustee which could result in the Trustee incurring any liability
for its own account; or 
 (7) paying any fees, costs or expenses of the Security Trustee. 

Section 7.03 Individual Rights of Trustee 

The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or any
Affiliate of the Issuer with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days or resign as Trustee hereunder. Any Agent may
do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11. 
 Section 7.04 Trustee’s Disclaimer 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not
be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any provision of this Indenture, it will not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other
than its certificate of authentication. 
 Section 7.05 Notice of Defaults 

If a Default occurs and is continuing and is actually known to the Trustee, the Trustee must give notice of the Default within 90 days after it
occurs. Except in the case of a Default in the payment of principal of, premium, if any, interest or Additional Amounts, if any, on any Note, the Trustee may withhold notice if and so long as a committee of its Responsible Officers in good faith
determines that withholding notice is in the interests of the Holders. In addition, the Company or the Issuer is required to deliver to the Trustee, within 120 days after the end of each fiscal year, a certificate indicating whether the signers
thereof know of any Default that occurred during the previous year. The Company or the Issuer is also required to deliver to the Trustee, within 30 days after the occurrence thereof, written notice of any events of which they are aware which would
constitute certain Defaults with respect to the Proceeds Loan Obligors or the Issuer, as applicable, the status of such events and what action the Company is taking or proposing to take in respect thereof. 

Section 7.06 [Reserved] 
 Section 7.07
Compensation and Indemnity 
 (a) The Issuer will pay to the Trustee from time to time compensation for its acceptance of this
Indenture and services hereunder as shall be agreed from time to time between them. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. In the event of being requested by the Issuer to
undertake duties which the Trustee reasonably determines to be of an exceptional nature or otherwise outside the scope of the normal duties of the Trustee, the Issuer shall pay to the Trustee such additional remuneration as shall be agreed between
them. The Issuer will reimburse the Trustee promptly upon request for all properly incurred disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses will include the properly
incurred compensation, disbursements and expenses of the Trustee’s agents and counsel. 

  
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 (b) The Issuer will indemnify the Trustee, the Security Trustee and the Agents against any and
all Losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, any Supplemental Indenture, the Notes, the Collateral Sharing Agreement, the Priority
Agreement any Security Document or in any other role performed by Deutsche Bank Trustee Company Limited under said documents, including the costs and expenses of enforcing this Indenture against the Issuer (including this Section 7.07) and
defending itself against any claim (whether asserted by the Issuer, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability
or expense may be attributable to its negligence or bad faith. The Trustee will notify the Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer will not relieve the Issuer of its obligations
hereunder. The Issuer will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and the Issuer will pay the reasonable fees and expenses of such counsel. The Issuer need not pay for any settlement
made without its consent, which consent will not be unreasonably withheld. 
 (c) The obligations of the Issuer under this Section 7.07
and any claim arising hereunder shall survive the resignation or removal of any Trustee, the satisfaction and discharge of the Issuer’s obligations pursuant to Article 8 and any rejection or termination under any Bankruptcy Law, and the
satisfaction and discharge of this Indenture 
 (d) To secure the Issuer’s payment obligations in this Section 7.07, the Trustee
will have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien will survive the satisfaction and discharge of this Indenture. 

(e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(a)(7) occurs, the expenses
and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any applicable Bankruptcy Law. 

For the avoidance of doubt, the rights, privileges, protections, immunities and benefits given, to the Trustee in Section 7.07, including
its right to be indemnified, are extended to, and shall be enforceable by the Trustee, in each of its capacities hereunder, by the Security Trustee and by each agent (including the Agents), custodian and other Person employed by the Trustee to act
hereunder. 
 Section 7.08 Replacement of Trustee 

(a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in writing at any time and be discharged from
the trust hereby created by so notifying the Issuer. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. The Issuer may remove the
Trustee if: 
 (1) the Trustee fails to comply with Section 7.10; 

(2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; 

  
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 (3) a custodian or public officer takes charge of the Trustee or its property; or

 (4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer will promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Issuer. 
 (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, (1) the
retiring Trustee, the Issuer, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee; or (2) the retiring Trustee
may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office; provided that such appointment shall be reasonably satisfactory to the Issuer. 

(e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10,
such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders.
The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07.
Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 will continue for the benefit of the retiring Trustee. 

Section 7.09 Successor Trustee by Merger, etc. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act will be the successor Trustee. 
 Section 7.10 Agents; Resignation of Agents 

Any Agent may resign and be discharged from its duties under this Indenture at any time by giving sixty (60) days’ prior written
notice of such resignation to the Trustee and the Issuer. The Trustee or the Issuer may remove any Agent at any time by giving sixty (60) days’ prior written notice to any Agent. Upon such notice, a successor Agent shall be appointed by
the Issuer, who shall provide written notice of such to the Trustee. Such successor Agent shall become the Agent hereunder upon the resignation or removal date specified in such notice. If the Issuer is unable to replace the resigning Agent within
sixty (60) days after such notice, the Agent may, in its sole discretion, deliver any funds then held hereunder in its possession to the Trustee or may apply to a court of competent jurisdiction for the appointment of a successor Agent or for
other appropriate relief. The properly incurred and documented costs and expenses (including its counsels’ fees and expenses) incurred by the Agent in connection with such proceeding shall be paid by the Issuer. Upon receipt of the identity of
the successor Agent, the Agent shall deliver any funds then held hereunder to the successor Agent, less the Agent’s properly incurred and documented fees, costs and expenses or other obligations owed to the Agent. Upon its resignation and
delivery any funds, the Agent shall be discharged of and from any and all further obligations arising in connection with this Indenture, but shall continue to enjoy the benefit of Section 7.07. 

  
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 Section 7.11 Eligibility; Disqualification 

There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of
America or of any state thereof or a jurisdiction in the European Union that is authorized under such laws to exercise corporate trustee power and which customarily performs such corporate trustee roles and provides such corporate trustee services
in transactions similar in nature to the offering of the Notes as described in the Offering Memorandum. 
 ARTICLE 8.

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance 

The Issuer may at any time, at the option of its Boards of Directors evidenced by a resolution set forth in an Officer’s Certificate,
elect to have either Section 8.02 or 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge 

(a) Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.02, the Issuer will, subject to the
satisfaction of the conditions set forth in Section 8.04, be deemed to have been discharged from its obligations with respect to all outstanding Notes, and the obligations of the Proceeds Loan Obligors will be deemed to have been discharged
from their obligations under the Covenant Agreement, on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer will be deemed to have paid
and discharged the entire Indebtedness represented by the outstanding Notes, which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 and the other Sections of this Indenture referred to in clauses
(1) and (2) of this Section 8.02(a), and to have satisfied all its other obligations under such Notes and this Indenture (and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging
the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder: 
  

	 	(1)	the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04;

  

	 	(2)	the Issuer’s obligations with respect to such Notes under Article 2 and Section 4.02; 

  

	 	(3)	the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s obligations in connection therewith; and 

 

	 	(4)	this Article 8. 

 (b) Subject to compliance with this Article 8, the Issuer may exercise its
option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03. 
 Section 8.03 Covenant
Defeasance 
 Upon an Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03, the Issuer will,
subject to the satisfaction of the conditions set forth in Section 8.04, be 

  
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released from its obligations under Sections 3.11, 4.03, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.14, 4.15, 4.16, 4.17, 4.19, 4.21, 4.22, 4.23, 4.24, 4.25 and 4.26 and clauses (3) and
(4) of Section 5.01(b) with respect to the outstanding Notes, and the Proceeds Loan Obligors with respect to their obligations under the Covenant Agreement, on and after the date the conditions set forth in Section 8.04 are satisfied
(hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in
connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes, the Issuer may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of
any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under
Section 6.01(a), but, except as specified above, the remainder of this Indenture and such Notes will be unaffected thereby. In addition, upon an Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03,
subject to the satisfaction of the conditions set forth in Section 8.04, Section 6.01(a)(4) through 6.01(a)(7) (with respect to clause (7), only with respect to Significant Subsidiaries) and 6.01(a)(8) will not constitute Events of
Default. 
 Section 8.04 Conditions to Legal or Covenant Defeasance 

(a) In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03: 

 

	 	(1)	the Issuer must irrevocably deposit in trust (the “defeasance trust”) with the Trustee (or an agent nominated by the Trustee for such purpose) euro, euro-denominated European Government Obligations or a
combination thereof (in the case of the Euro Notes) and dollars, dollar-denominated U.S. Government Obligations or a combination thereof (in the case of the Dollar Notes) for the payment of principal, premium, if any, interest and Additional
Amounts, if any, on the Notes to redemption or maturity, as the case may be; 

  

	 	(2)	in the case of an election under Section 8.02, the Issuer must deliver to the Trustee an Opinion of Counsel (subject to customary exceptions and exclusions) confirming that: 

 

	 	(A)	the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling; or 

  

	 	(B)	since the Issue Date, there has been a change in the applicable federal income tax law, 

 in
either case to the effect that, and based thereon such Opinion of Counsel (subject to customary exceptions and exclusions) shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for U.S. federal income tax
purposes as a result of such Legal Defeasance and will be subject to U.S. federal income tax on the same amount and in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred. In the case of legal
defeasance only, such Opinion of Counsel must be based on a ruling of the U.S. Internal Revenue Service or other change in applicable U.S. federal income tax law; 
  

	 	(3)	 in the case of an election under Section 8.03, the Issuer must deliver to the Trustee an Opinion of Counsel (subject to customary exceptions and
exclusions) confirming that the Holders of the outstanding Notes will not 

  
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recognize income, gain or loss for United States Federal income tax purposes as a result of such Covenant Defeasance and will be subject to United States Federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

  

	 	(4)	no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the
deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Issuer or the Company is a party or by which the Issuer or the Company is bound; 

 

	 	(5)	such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company or any of
its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

  

	 	(6)	the Issuer must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Issuer with the intent of preferring the Holders over the other creditors of an Issuer with the intent of
defeating, hindering, delaying or defrauding any creditors of an Issuer or others; and 

  

	 	(7)	the Issuer must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied
with. 

 Section 8.05 Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions 

(a) Subject to Section 8.06, all money, all European Government Obligations and all U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 in respect of the outstanding Notes will be held in trust and
applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including any Issuer acting as Paying Agent) as the Trustee may determine, to the Holders of
such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

(b) The Issuer will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash in euro or U.S.
dollars or against European Government Obligations or the U.S. Government Obligations deposited pursuant to Section 8.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for
the account of the Holders of the outstanding Notes. 
 (c) Notwithstanding anything in this Article 8 to the contrary, the Trustee will
deliver or pay to the Issuer from time to time upon the request of the Issuer any money, non-callable euro-denominated European Government Obligations or non-callable
U.S. dollar-denominated U.S. Government Obligations held by it as provided in Section 8.04 which, in the opinion of an Independent Financial Advisor expressed in a written certification thereof delivered to the Trustee (which may be the opinion
delivered under Section 8.04(a)(1)), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

  
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 Section 8.06 Repayment to Issuer 

Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium, if
any, or interest on, any Note and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Issuer on its request or (if then held by an Issuer) will be discharged from such
trust; and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee
thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may (without an obligation to do so) at the expense of the Issuer cause to be published once, in
a leading newspaper having general circulation in London, notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance
of such money then remaining will be repaid to the Issuer. 
 Section 8.07 Reinstatement 

If the Trustee or any Paying Agent is unable to apply any euro or euro-denominated non-callable European Government Obligations (with respect to the Euro Notes) or U.S. dollar or U.S. dollar-denominated non-callable U.S. Government Obligations in accordance with Section 8.02 or 8.03, as the
case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s obligations under this Indenture and the Notes will be revived and
reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03, as the case may be; provided,
however, that, if the Issuer make any payment of principal of, premium, if any, or interest on, any Note following the reinstatement of its obligations, the Issuer will be subrogated to the rights of the Holders of such Notes to receive such
payment from the money held by the Trustee or Paying Agent. 
 ARTICLE 9. 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01 Without Consent of Holders 

(a) Subject to Section 9.03 and notwithstanding Section 9.02 of this Indenture, without the consent of any Holder, this Indenture,
the Notes, the Covenant Agreement, the Note Security Documents, the Collateral Sharing Agreement, any Additional Collateral Sharing Agreement, the Proceeds Loans, the Proceeds Loan Agreement, the Proceeds Loan Guarantees, the Proceeds Loan
Collateral Documents, the Priority Agreement and any Additional Priority Agreement may be amended to: 
  

	 	(1)	cure any ambiguity, omission, manifest error, defect or inconsistency; 

  

	 	(2)	provide for the assumption by a Successor Company of the obligations of the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or another Proceeds Loan Obligor under the Covenant Agreement, the Priority
Agreement, any Additional Priority Agreement and the Proceeds Loan Collateral Documents; 

  

	 	(3)	provide for uncertificated Notes in addition to or in place of certificated Notes; 

  

	 	(4)	add guarantees with respect to the Notes or the Proceeds Loans; 

  
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	 	(5)	secure the Notes or the Proceeds Loans or enter into additional or supplemental Note Security Documents or Proceeds Loan Collateral Documents; 

 

	 	(6)	add to the covenants of the Issuer or the Proceeds Loan Obligors for the benefit of the Holders or the Issuer as lender under the Proceeds Loans, or surrender any right or power conferred upon the Issuer under this
Indenture, the Notes or the Note Security Documents or conferred upon a Proceeds Loan Obligor under the Proceeds Loans, the Covenant Agreement or the Proceeds Loan Collateral Documents; 

 

	 	(7)	make any change that does not adversely affect the rights of any Holder in any material respect; 

  

	 	(8)	release the Note Collateral or the Proceeds Loan Collateral as provided by the terms of this Indenture; 

  

	 	(9)	provide for the issuance of Additional Notes or Additional Proceeds Loans in accordance with the terms of this Indenture; 

  

	 	(10)	give effect to Permitted Issuer Liens and Permitted Collateral Liens; 

  

	 	(11)	release any Proceeds Loan Guarantee in accordance with the terms of this Indenture; 

  

	 	(12)	evidence and provide for the acceptance of the appointment of a successor Trustee or Security Trustee under this Indenture; 

  

	 	(13)	to the extent reasonably required to allow for the Related Transactions; 

  

	 	(14)	to the extent necessary to grant a Lien for the benefit of any Person; provided that the granting of such Lien is permitted by this Indenture, the Note Security Documents or the Proceeds Loan Collateral Documents;

  

	 	(15)	make any amendment to the provisions of this Indenture relating to the transfer and legending of Notes as permitted by this Indenture, including, without limitation to facilitate the issuance and administration of the
Notes; provided, however, that (a) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any applicable securities law and (b) such amendment does not
materially and adversely affect the rights of Holders to transfer Notes; 

  

	 	(16)	conform the text of this Indenture, the Notes, the Covenant Agreement, the Note Security Documents, the Collateral Sharing Agreement, any Additional Collateral Sharing Agreement, the Proceeds Loan, the Proceeds Loan
Guarantees, the Proceeds Loan Collateral Documents, the Priority Agreement and any Additional Priority Agreement, to any provision of the Description of the Notes to the extent that such provision in the “Description of the Notes” section
of the Offering Memorandum to the extent that such provision in the “Description of the Notes” section of the Offering Memorandum was intended to be a verbatim recitation of this Indenture, the Notes, the Collateral Sharing Agreement, the
Priority Agreement or the Note Security Documents or the Proceeds Loan Collateral Documents; or 

  

	 	(17)	give effect to any amendment to the Priority Agreement that is permitted under the Senior Facility Agreement (as in effect on the Issue Date), including to provide for the release of the Asset Collateral in accordance
with the terms of the Senior Facility Agreement (as in effect on the Issue Date). 

  
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 (b) the Trustee shall be entitled to require and rely absolutely on such evidence as it deems
appropriate, including an Opinion of Counsel and an Officer’s Certificate of the Issuer or the Company, as applicable. 
 (c) The
consent of the Holders is not necessary under this Indenture to approve the particular form of any proposed amendment. It is sufficient if such consent approves the substance of the proposed amendment. A consent to any amendment or waiver under
this Indenture by any Holder of Notes given in connection with a tender of such Holder’s Notes will not be rendered invalid by such tender. For so long as the Notes are listed on the Irish Stock Exchange and the guidelines of such Stock
Exchange so require, the Company or the Issuer will notify the Irish Stock Exchange of any such amendment, supplement and waiver. 
 (d)
Upon the request of the Issuer accompanied by a resolution of their respective Board of Directors authorizing the execution of any such amended or supplemental Indenture, and upon receipt by the Trustee of the documents described in
Section 7.02, the Trustee will join with the Issuer in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be
therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that adversely affects its own rights, duties or immunities under this Indenture or otherwise. 

Section 9.02 With Consent of Holders 

Subject to Section 9.03 and except as provided below in this Section 9.02, the Issuer and the Trustee may amend or supplement this
Indenture (including, without limitation, Section 3.11, 4.10 and 4.14), the Notes, the Covenant Agreement, the Note Security Documents, the Collateral Sharing Agreement, any Additional Collateral Sharing Agreement, the Proceeds Loans or the
Proceeds Loan Agreement (only to the extent consent of Holders is required), the Proceeds Loan Guarantees, the Proceeds Loan Collateral Documents, the Priority Agreement and any Additional Priority Agreement and with the consent of the Holders of at
least a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or a
tender offer or exchange offer for, the Notes), and, subject to Sections 6.04 and 6.07, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, or interest on, the
Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or the Notes may be amended or supplemented with the consent of the Holders of a majority in aggregate
principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer
for the Notes; provided, however, that if any amendment, waiver or other modification will only affect the Euro Notes or the Dollar Notes, only the consent of the Holders of at least a majority in principal amount of the then outstanding Euro
Notes or Dollar Notes (and not the consent of at least a majority of all Notes then outstanding), as the case may be, shall be required. 

For purposes of determining whether the Holders of the requisite principal amount of Notes have taken any action under this Indenture (other
than with respect to a determination that only effects the Dollar Notes), the principal amount of Dollar Notes shall be deemed to be the Euro Equivalent of such principal amount of such Dollar Notes as of (a) if a record date has been set with
respect to the taking of such action, such date or (b) if no such record date has been set, the date the taking of such action by the Holders of such requisite principal amount is certified to the Trustee by the Issuer or the Company. 

Upon the request of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental Indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as 

  
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aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02, the Trustee will join with the Issuer in the execution of such amended or supplemental Indenture unless
such amended or supplemental indenture directly adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such
amended or supplemental Indenture. 
 It is not necessary for the consent of the Holders under this Section 9.02 to approve the
particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof. 
 Any
past default or compliance with any provisions of this Indenture, the Notes, the Covenant Agreement, the Note Security Documents, the Collateral Sharing Agreement, any Additional Collateral Sharing Agreement, the Proceeds Loans, the Proceeds Loan
Agreement, the Proceeds Loan Guarantees, the Proceeds Loan Collateral Documents, the Priority Agreement and any Additional Priority Agreement may be waived with the consent of the Holders of a majority in aggregate principal amount of the Notes then
outstanding voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes); provided, however that if any amendment, waiver or other modification will
only affect the Euro Notes or the Dollar Notes only the consent of the Holders of at least a majority in principal amount of the then outstanding Euro Notes or Dollar Notes (and not the consent of at least a majority of all Notes then outstanding),
as the case may be, shall be required. However, without the consent of the Holders of at least 90% of the aggregate principal amount of then outstanding Notes, (provided, however that if any amendment, waiver or other modification will only affect
the Euro Notes or the Dollar Notes only the consent of the Holders of at least 90% of the aggregate principal amount of the then outstanding Euro Notes or Dollar Notes (and not the consent of at least 90% of the aggregate principal amount of all the
Notes then outstanding), as the case may be, shall be required), an amendment, supplement or waiver under this Section 9.02 may not: 
  

	 	(1)	reduce the principal amount of Notes whose Holders must consent to an amendment or waiver; 

  

	 	(2)	reduce the stated rate of or extend the stated time for payment of interest or Additional Amounts on any Note; 

  

	 	(3)	reduce the principal of or extend the Stated Maturity of any Note; 

  

	 	(4)	whether through an amendment or waiver of provisions in the covenants, definitions or otherwise (i) reduce the premium payable upon the redemption of any Note or change the time at which any Note may be redeemed
under Section 3.07 (other than the notice provisions), (ii) reduce the premium payable upon repurchase of any Note or change the time at which any Note is to be repurchased pursuant to Section 3.11, Section 4.10 or
Section 4.14, at any time after the obligation to repurchase has arisen, or (iii) change any provision relating to the redemption of the Notes pursuant to Section 3.08; 

 

	 	(5)	make any Note payable in money other than that stated in the Note (except to the extent the currency stated in the Note has been succeeded or replaced pursuant to applicable law); 

 

	 	(6)	impair the right of any Holder to receive payment of, premium, if any, principal of or interest or Additional Amounts, if any, on such Holder’s Notes on or after the due dates therefor or to institute suit for the
enforcement of any payment on or with respect to such Holder’s Notes; or 

  

	 	(7)	make any change to this Section 9.02. 

  
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 In addition, without the consent of at least 75% in aggregate principal amount of Notes then
outstanding (provided, however that if any amendment, waiver or other modification will only affect the Euro Notes or the Dollar Notes only the consent of the Holders of at least 75% of the aggregate principal amount of the then outstanding
Euro Notes or Dollar Notes (and not the consent of at least 75% of the aggregate principal amount of all the Notes then outstanding), as the case may be, shall be required), no amendment or supplement may: 

 

	 	(8)	release any Proceeds Loan Guarantor from any of its obligations under its Proceeds Loan Guarantee or modify any Proceeds Loan Guarantee, except, in each case, in accordance with the terms of this Indenture and the
Priority Agreement; or 

  

	 	(9)	modify any Note Security Document or any Proceeds Loan Collateral Document or the provisions in this Indenture dealing with the Note Security Documents, the Proceeds Loan Collateral Documents or application of trust
moneys in any manner, taken as a whole, materially adverse to the Holders or otherwise release all or substantially all of the Note Collateral or the Proceeds Loan Collateral other than pursuant to the terms of the Note Security Documents, the
Proceeds Loan Collateral Documents, the Collateral Sharing Agreement, any Additional Collateral Sharing Agreement, the Priority Agreement, any Additional Priority Agreement, as applicable, or as otherwise permitted by this Indenture.

 Section 9.03 Specified Consents and Amendments 

In the event that the Issuer, as lender under the Proceeds Loans, is eligible or required to vote (or otherwise consent) (including with
respect to any enforcement decision) with respect to any matter arising from time to time under the Priority Agreement or any Additional Priority Agreement in which all other creditors under the Priority Agreement or any Additional Priority
Agreement are eligible or required to vote (or otherwise consent), the Issuer shall vote, or otherwise provide or withhold any consent or instruction (the “Instructing Group Consent”) as directed by the “Instructing Group”
as defined in, an in accordance with, the Collateral Sharing Agreement and any Additional Collateral Sharing Agreement. If applicable, the Issuer shall solicit votes (or other consents or instructions) from Holders with respect to any Instructing
Group Consent. 
 Section 9.04 Revocation and Effect of Consents 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a
Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms
and thereafter binds every Holder; provided however that if an amendment supplement or waiver or other modification affects only the Euro Notes or the Dollar Notes, as the case may be, and such amendment, supplement or waiver becomes
effective in accordance with its terms, then such amendment, supplement or waiver shall only bind the Holder of the Euro Notes or the Dollar Notes, as applicable, unless consented to otherwise by the Holders of such other Notes then outstanding
pursuant to the terms of this Indenture. 

  
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 Section 9.05 Notation on or Exchange of Notes 

The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in
exchange for all Notes may issue and the Authenticating Agent shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 

Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.

 Section 9.06 Trustee to Sign Amendments, etc. 

The Trustee will sign any amended or supplemental Indenture authorized pursuant to this Article 9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuer may not sign an amended or supplemental Indenture until the Board of Directors of the Issuer approves it. In executing any amended or supplemental Indenture,
the Trustee will be entitled to receive and (subject to Section 7.01) will be fully protected in relying upon, in addition to the documents required by Section 14.03, an Officer’s Certificate and an Opinion of Counsel stating that the
execution of such amended or supplemental Indenture is authorized or permitted by or not in breach of this Indenture and that such amendment is the legal, valid and binding obligation of the Issuer enforceable against them in accordance with its
terms, subject to customary exceptions, and complies with the provisions of this Indenture. 
 ARTICLE 10. 

GUARANTEES 
 Section 10.01 Releases.

 The Proceeds Loan Borrowers will not cause or permit, directly or indirectly, any Proceeds Loan Guarantee to be released other than: 

(1) upon the sale or other disposition of all or substantially all of the Capital Stock of the relevant Proceeds Loan Guarantor
pursuant to an Enforcement Sale; 
 (2) upon the sale or other disposition (including through merger or consolidation but
other than pursuant to an Enforcement Sale) in compliance with this Indenture of the Capital Stock of the relevant Proceeds Loan Guarantor (whether directly or through the disposition of a parent thereof), following which transaction such Proceeds
Loan Guarantor is no longer a Restricted Subsidiary or Affiliate Subsidiary (other than a sale or other disposition to the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary); 

(3) in the case of a Proceeds Loan Guarantor that is prohibited or restricted by applicable law from guaranteeing the Proceeds
Loans (other than customary legal and contractual limitations on the Proceeds Loan Guarantee of such Proceeds Loan Guarantor substantially similar to those provided for in the Proceeds Loans or this Indenture in respect of the Proceeds Loan
Guarantees), provided that such Proceeds Loan Guarantee will be released as a whole or in part to the extent it is necessary to achieve compliance with such prohibition or restriction; 

(4) if any Restricted Subsidiary that is a Proceeds Loan Guarantor is designated as an Unrestricted Subsidiary in accordance
with Section 4.07; 
 (5) upon Legal Defeasance, Covenant Defeasance or satisfaction and discharge of the Notes and this
Indenture as provided in Articles 8 or 13, respectively; 

  
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 (6) with respect to an Additional Proceeds Loan Guarantee given given pursuant to
Section 4.15, upon release of the guarantee that gave rise to the requirement to issue such Additional Proceeds Loan Guarantee so long as no Event of Default would arise as a result and no other Indebtedness that would give rise to an
obligation to give an Additional Proceeds Loan Guarantee is at that time guaranteed by the relevant Proceeds Loan Guarantor; 

(7) as a result of a transaction permitted by, and in compliance with Section 5.01; 

(8) if such Proceeds Loan Guarantor is an Affiliate Subsidiary and such Affiliate Subsidiary becomes a Subsidiary of or is
merged into or with the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor, another Restricted Subsidiary of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor which is not an Affiliate Subsidiary, the Affiliate Proceeds Loan
Obligor or a Proceeds Loan Guarantor; 
 (9) as described under Article 9; or 

(10) upon the full and final payment and performance of all obligations of the Issuer this Indenture and the Notes. 

Section 10.02 Affiliate Proceeds Loan Obligor and Affiliate Subsidiaries 

The Company and/or UPC NL Holdco may from time to time designate an Affiliate as an Affiliate Proceeds Loan obligor (each an “Affiliate
Proceeds Loan Obligor”) by causing it to execute and deliver to the Issuer an accession agreement to the Proceeds Loan Agreement whereby such Affiliate Proceeds Loan Obligor will provide a Proceeds Loan Guarantee (the “Affiliate
Proceeds Loan Obligor Guarantee”) and accede as an Affiliate Proceeds Loan Obligor (the “Affiliate Proceeds Loan Obligor Accession”), provided that, prior to or immediately after giving effect to such transaction, no
Default or Event of Default shall have occurred and be continuing. 
 Concurrently with the Affiliate Proceeds Loan Obligor Accession, the
Parent of such Affiliate Proceeds Loan Obligor will enter into a pledge of all of the issued Capital Stock of such Affiliate Proceeds Loan Obligor (which will rank pari passu with the Proceeds Loan Collateral taking into account the Priority
Agreement) as security for the Affiliate Proceeds Loan Obligor Guarantee. In this Description of the Notes, references to the Affiliate Proceeds Loan Obligor include all Affiliate Proceeds Loan Obligors so designated from time to time. 

ARTICLE 11. 
 SECURITY 

Section 11.01 Note Security Documents 

The due and punctual payment of the principal of and premium, interest and Additional Amounts, if any, on the Notes when and as the same shall
be due and payable, whether on an Interest Payment Date, at maturity, by acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of and interest and Additional Amounts (to the extent permitted by law), if any, on the
Notes, and performance of all other monetary obligations of the Issuer to the Holders or the Trustee under this Indenture or the Notes, according to the terms hereunder or thereunder, are secured as provided in the Note Security Documents, the
Collateral Sharing Agreement and any Additional Collateral Sharing Agreement. Each Holder of Notes, by its acceptance thereof, consents and agrees to the terms of the Note Security Documents, the Collateral Sharing Agreement and any Additional

  
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Collateral Sharing Agreement as the same may be in effect or may be amended from time to time in accordance with their terms, and authorizes and directs the Trustee and the Security Trustee to
enter into the Note Security Documents, the Collateral Sharing Agreement and any Additional Collateral Sharing Agreement and to perform their respective obligations and exercise their respective rights thereunder in accordance therewith. The Issuer
will deliver to the Trustee copies of all documents delivered to the Security Trustee pursuant to the Note Security Documents, the Collateral Sharing Agreement and any Additional Collateral Sharing Agreement. The Issuer will take, upon request of
the Trustee or the Security Trustee, any and all actions reasonably required to cause the Note Security Documents, the Collateral Sharing Agreement and any Additional Collateral Sharing Agreement to create and maintain, as security for the
Obligations of the Issuer hereunder, a valid and enforceable perfected Lien in and on the relevant Note Collateral in favor of the Security Trustee. 

Section 11.02 Release of Note Collateral 

The Liens on the Note Collateral will be automatically and unconditionally released: 

(1) upon the full and final payment and performance of all obligations of the Issuer under this Indenture and the Notes; 

(2) to release and/or re-take a Lien on the Note Collateral to the extent otherwise permitted by the terms of this Indenture (including,
without limitation, as may be permitted by Section 4.17; 
 (3) with the consent of Holders of at least seventy-five percent
(75%) in aggregate principal amount of the Notes (including without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes); 

(4) following an Event of Default under this Indenture or a default under other Indebtedness secured by the Note Collateral, pursuant to an
enforcement in accordance with the Collateral Sharing Agreement; 
 (5) upon Legal Defeasance, Covenant Defeasance or satisfaction and
discharge of the Notes as provided in Articles 8 or 13, respectively; or 
 (6) upon consummation of the Ziggo Group Assumption in
accordance with Section 4.27. 
 In addition, the security interests created by the Note Security Documents will be released in
accordance with the Note Security Documents, the Collateral Sharing Agreement and any Additional Collateral Sharing Agreement. 
 In
addition, the Trustee shall, at the request of the Issuer upon having provided the Trustee an Officer’s Certificate certifying compliance with this Section 11.02, release the relevant security interest created by the Note Security
Documents pursuant to an appropriate instrument evidencing such release upon the Legal Defeasance or Covenant Defeasance or satisfaction and discharge of the Notes as provided in Article 8 or Article 12. 

Subject to the provisions of Section 7.01 and 7.02, upon certification by the Issuer, the Trustee and the Security Trustee shall take all
necessary actions, including the granting of releases or waivers under the Collateral Sharing Agreement, or any Additional Collateral Sharing Agreement, to effectuate any release in accordance with these provisions, subject to customary protections
and indemnifications to the satisfaction of the Trustee and the Security Trustee. The Security Trustee and/or Trustee (as applicable) will agree to any release of the security interests created by the Note Security Documents that is in accordance
with this Indenture, the Note Security Documents, the Collateral Sharing Agreement and any Additional Collateral Sharing Agreement without requiring any consent of the Holders. 

  
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 Section 11.03 Release of Proceeds Loan Collateral 

The Proceeds Loan Collateral will be automatically and unconditionally released and discharged: 

 

	 	(1)	upon the sale or other disposition of any Proceeds Loan Collateral pursuant to an Enforcement Sale; 

  

	 	(2)	if the Proceeds Loan Collateral is the Capital Stock of, or an asset of, a Proceeds Loan Guarantor or any of its Subsidiaries, in connection with any sale or disposition of Capital Stock of that Proceeds Loan Guarantor
or Subsidiary to a Person that is not (either before or after giving effect to such transaction) the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or a Restricted Subsidiary, provided that such sale or disposition is in compliance with
this Indenture, including Section 4.10, or if the applicable Subsidiary of which such Capital Stock or assets are pledged is designated as an Unrestricted Subsidiary in compliance with Section 4.07; 

 

	 	(3)	to release and/or re-take any Lien under the Proceeds Loan Collateral Documents to the extent otherwise permitted by the terms of this Indenture, the Proceeds Loan Collateral Documents or the Priority Agreement;

  

	 	(4)	if the Proceeds Loan Collateral is owned by a Proceeds Loan Guarantor that is released from its Proceeds Loan Guarantee in accordance with the terms of this Indenture; 

 

	 	(5)	as described in Article 9; 

  

	 	(6)	in connection with a transfer of any property or assets subject to any security interests to the extent required to consummate all or any part of the Ziggo Group Combination; provided that the transferee of such
property or assets grants, or has granted, security interests over such property and assets (having the same ranking as prior to such transfer taking the Priority Agreement into account) to the Security Agent substantially concurrently with the
consummation of such transfer (other than with respect to any pledges of shares or partnership interests of a non-surviving entity); 

  

	 	(7)	in connection with Section 5.01; provided that any other Lien on such property or assets that secures any other Indebtedness of the Company, UPC NL Holdco or the Affiliate Proceeds Loan Obligor is
simultaneously released; 

  

	 	(8)	with the consent of Holders of at least seventy-five percent (75%) in aggregate principal amount of the Notes (including, without limitation, consents obtained in connection with a tender offer or exchange offer
for, or purchase of, the Notes); and 

  

	 	(9)	upon the full and final payment and performance of all obligations of the Issuer under this Indenture and the Notes. 

In addition, the Liens created by the Proceeds Loan Collateral Documents will be released in accordance with the Proceeds Loan Collateral
Documents and the Priority Agreement. 

  
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 Section 11.04 Authorization of Actions to Be Taken by the Security Trustee 

Subject to the provisions of Section 7.01 and 7.02, the Security Trustee may, at the direction and for the benefit of the Trustee or the
requisite Holders, take all actions it deems necessary or appropriate in order to: 
  

	 	(1)	enforce any of the terms of the Note Security Documents; 

  

	 	(2)	release any Lien created by any Note Security Document or Guarantees in accordance with the terms of this Indenture or the Intercreditor; and 

 

	 	(3)	collect and receive any and all amounts payable in respect of the obligations of any Issuer or Guarantor hereunder. 

The Security Trustee, at the direction and for the benefit of the Trustee or the requisite Holders, will have power to institute and maintain
such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that may be unlawful or in violation of the Note Security Documents, the Collateral Sharing Agreement, any Additional Collateral Sharing
Agreement, the Priority Agreement, any Additional Priority Agreement or this Indenture, and such suits and proceedings as the Security Trustee may deem expedient to preserve or protect its interests and the interests of the Holders in the Collateral
(including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be otherwise invalid if the enforcement of, or compliance with,
such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders or of the Trustee). 

Notwithstanding any other provision of this Indenture, neither the Trustee nor the Security Trustee has any responsibility for the validity,
perfection, priority or enforceability of any Lien, Security Document or other security interest and shall have no obligation to take any action to procure or maintain such validity, perfection, priority or enforceability. 

Section 11.05 Authorization of Receipt of Funds by the Security Trustee Under the Note Security Documents 

The Security Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Note Security Documents, and to
make further distributions of such funds to the Trustee, for further distribution to the Holders according to the provisions of this Indenture and the Note Security Documents. All such payments to the Security Trustee, or upon its order, shall be
valid and, to the extent of the same so paid, effective to satisfy and discharge the liability for moneys payable under the Notes, this Indenture and the Note Security Documents. 

Section 11.06 Waiver of subrogation 

Each Issuer and Grantor under the Note Security Documents agrees that it shall not exercise any right of subrogation in relation to the Holders
in respect of any obligations secured pursuant to the Note Security Documents until payment in full of all obligations secured thereby. 

Section 11.07 Termination of Security Interest 

Upon the payment in full of all obligations of the Issuer under this Indenture and the Notes, or upon Legal Defeasance, the Trustee will, at
the request of the Issuer, deliver a certificate to the Security Trustee stating that such obligations have been paid in full, and instruct the Security Trustee to release the Liens pursuant to this Indenture and the Note Security Documents. 

  
 139 

 ARTICLE 12. 

SATISFACTION AND DISCHARGE 
 Section 12.01
Satisfaction and Discharge 
 (a) This Indenture, the Note Security Documents, the Covenant Agreement, and, subject to
Section 7.07, the rights, duties and obligations of the Trustee and the Holders under the Collateral Sharing Agreement or any Additional Collateral Sharing Agreement will be discharged and will cease to be of further effect as to all Notes
issued hereunder, or as to the Euro Notes or Dollar Notes, as applicable, when: 
  

	 	(1)	either: 

  

	 	(A)	all Notes (or all Euro Notes or Dollar Notes, as applicable) that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has been deposited in
trust and thereafter repaid to the Issuer, have been delivered to a Paying Agent or Registrar for cancellation; or 

  

	 	(B)	(i) all Notes (or all Euro Notes or Dollar Notes, as applicable) that have not been delivered to a Paying Agent or Registrar for cancellation (a) have become due and payable by reason of the mailing or delivery of
a notice of redemption or otherwise or (b) will become due and payable within one year and (ii) the Issuer has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders,
with respect to the Euro Notes, cash, Cash Equivalents, European Government Obligations, or a combination thereof, in each case, denominated in euro and, with respect to the Dollar Notes, cash, Cash Equivalents, U.S. Government Obligations or a
combination thereof, in each case, denominated in U.S. dollars, in amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to a Paying Agent or
Registrar for cancellation for principal, premium and Additional Amounts (if any) and accrued interest to the date of maturity or redemption; 

  

	 	(2)	the Issuer has paid or caused to be paid all other amounts (other than those paid or deposited or caused to be deposited in accordance with clause (1) of this Section 12.01(a)) payable by it under this
Indenture; and 

  

	 	(3)	the Issuer has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes (or the Euro Notes or Dollar Notes, as applicable) at maturity or on the
Redemption Date, as the case may be. 

 (b) In addition, the Issuer must deliver to the Trustee an Officer’s Certificate
and an Opinion of Counsel, in each case stating that all conditions precedent to satisfaction and discharge have been satisfied. 
 (c)
Notwithstanding the satisfaction and discharge of this Indenture if money has been deposited with the Trustee pursuant to Section 12.01(a)(1)(B), the provisions of Sections 11.02 and 8.06 will survive. In addition, nothing in this
Section 12.01 will be deemed to discharge those provisions of Section 7.07, that, by their terms, survive the satisfaction and discharge of this Indenture. 

  
 140 

 Section 12.02 Application of Trust Money 

Subject to the provisions of Section 8.06, all money deposited with the Trustee pursuant to Section 12.01 shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including any Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law. 

If the Trustee or Paying Agent is unable to apply euro or euro-denominated non-callable European Government Obligations in accordance with Section 12.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.01; provided that if the
Issuer has made any payment of principal of, premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from euro or euro-denominated non-callable European Government Obligations held by the Trustee or Paying Agent. 

ARTICLE 13. 
 LIMITED
RECOURSE OBLIGATIONS 
 Section 13.01 Limited Recourse Obligations 

(a) The Trustee acknowledges and agrees that its rights against the Issuer under this Indenture are limited to the extent that the Trustee will
not take any action or commence any proceedings against the Issuer to recover any amounts due and payable by the Issuer to the Trustee for itself and for and on behalf of the Holders except as expressly permitted by the provisions of this Indenture.
The Trustee further agrees that it will not take any action or commence any proceedings or petition a court for the liquidation or winding up of the Issuer, nor initiate or file for or otherwise commence any arrangement, reorganisation or insolvency
proceedings in relation to the Issuer, whether under the laws of The Netherlands, the United States or other applicable bankruptcy laws. For the avoidance of doubt, nothing in this Article 13 shall prevent the Trustee from filing or proving for any
claim or voting on any restructuring plan in relation to any such proceedings that have been commenced or initiated in respect of the Issuer by any person other than the Trustee. 

(b) Notwithstanding any provision in this Indenture to the contrary, the obligations of the Issuer to the Trustee under this Indenture shall
be limited to the lesser of (a) the nominal amount of the claim of the Trustee against the Issuer (the “Claim Amount”) determined in accordance with the terms of the Collateral Sharing Agreement (other than this
Section 13.01 and clause 23 of the Collateral Sharing Agreement) (the “Claim”) and (b) the product of (i) the Net Proceeds (as defined below) divided by the aggregate of the Claim Amount and all of the obligations of
the Issuer ranking pari passu with the Claim and (ii) the Claim Amount. In this Section 13.01, “Net Proceeds” means the net proceeds of realisation of all of the assets of the Issuer, the ordinary share capital and
any other ownership interests in the Issuer. If the Net Proceeds are insufficient to satisfy the Claim Amount in full, any outstanding debt in an amount in excess of the Net Proceeds shall be extinguished and the Issuer shall have no obligations to
the Trustee under this Indenture in respect of the amount of such extinguished debt. 
 (c) The Trustee acknowledges and agrees that the
obligations of the Issuer under this Indenture are solely its corporate obligations, and that the Trustee shall not have any recourse against any of the directors, officers or employees of the Issuer for any claims, losses, damages, liabilities,
indemnities or other obligations whatsoever in connection with any transactions contemplated by this Indenture. 

  
 141 

 ARTICLE 14. 

MISCELLANEOUS 
 Section 14.01 Notices

 (a) Any notice or communication by the Issuer or the Trustee to the others is duly given if in writing and delivered in Person or by first
class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’ address: 

If to the Issuer: 
 Ziggo Bond
Finance B.V. 
 Attention: Hans-Peter Visser 

Naritaweg 165 
 Telestone 8 

1043 BW Amsterdam 
 The
Netherlands 
 Telephone: +31 205 722 300 

Fax: +31 205 722 650 
 Email:
hpvisser@citco.com 
 If to the Trustee: 

Deutsche Trustee Company Limited 

Winchester House 
 1 Great
Winchester Street 
 London EC2N 2DB 

United Kingdom 
 Facsimile No.:
+44 0207 547 6149 
 Attention: The Managing Director (Debt & Agency Group) 

(b) Any Issuer or the Trustee, by notice to the others, may designate additional or different addresses for subsequent notices or
communications. 
 (c) All notices and communications addressed to the Issuer or the Trustee at the addresses set forth in this
Section 14.01 (or such other address as may be designated hereunder) (other than those sent to Holders) will 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 acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 

(d) All notices to the Holders (while any Notes are represented by one or more Global Notes) shall be delivered by or on behalf of the Issuer
to DTC, Euroclear or Clearstream, as applicable, for communication to entitled account Holders. 
 (e) So long as the Notes are listed on
the Irish Stock Exchange and the guidelines of such Stock Exchange shall so require, any notices to the Holders will be published through the Irish Stock Exchange’s Companies Announcement Office. Additionally, in the event the Notes are in the
form of Definitive Registered Notes, notices will be sent, by first-class mail, with a copy to the Trustee, to each Holder of the Notes at such Holder’s address as it appears on the registration books of the Registrar. If publication as
provided above is not practicable, notice will be given in such other manner, and shall be deemed to have been given on such date, as the Trustee may approve. 

  
 142 

 (f) Notices given by publication will be deemed given on the first date on which publication is
made and notices given by first class mail, postage prepaid, will be deemed given five calendar days after mailing. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other
Holders. 
 (g) If a notice or communication is mailed or otherwise delivered in the manner provided above within the time prescribed, it is
duly given, whether or not the addressee receives it. 
 (h) If the Issuer mails or otherwise delivers a notice or communication to Holders,
it will mail or otherwise deliver a copy to the Trustee and each Agent at the same time 
 (i) Any notices provided by the Issuer to the
Trustee or Agents shall be in English or accompanied by a certified translation and in the event of a conflict between the notice and such translation, the translation shall prevail. 

Section 14.02 Communication by Holders with Other Holders 

Holders may communicate pursuant to TIA § 312(b) as if this Indenture were required to be qualified under the TIA with other Holders with
respect to their rights under this Indenture or the Notes. The Issuer, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c) as if this Indenture were required to be qualified under the TIA. 

Section 14.03 Certificate and Opinion as to Conditions Precedent 

Upon any request or application by the Issuer to the Trustee to take any action under this Indenture, the Issuer shall furnish to the Trustee:

  

	 	(1)	an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which must include the statements set forth in Section 14.04) stating that, in the opinion of the signers, all conditions
precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

  

	 	(2)	an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which must include the statements set forth in Section 14.04) stating that, in the opinion of such counsel, all such conditions
precedent and covenants have been satisfied. 

 Section 14.04 Statements Required in Certificate or Opinion 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture must include: 

 

	 	(1)	a statement that the Person making such certificate or opinion has read such covenant or condition; 

  

	 	(2)	a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

 

	 	(3)	a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition
has been satisfied; and 

  

	 	(4)	a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied. 

  
 143 

 Section 14.05 Rules by Trustee and Agents 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set
reasonable requirements for its functions. 
 Section 14.06 No Personal Liability of Directors, Officers, Employees and Stockholders 

No director, officer, employee, incorporator, member or stockholder of the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan
Obligor or any other Proceeds Loan Obligor, any of their respective parent companies or any of their respective Subsidiaries or Affiliates, as such, shall have any liability for any obligations of the Issuer under the Notes or this Indenture or for
any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such
waiver and release may not be effective to waive liabilities under the United States federal securities laws. 
 Section 14.07 Currency
Indemnity 
 The sole currency of account and payment for all sums payable by the Issuer under this Indenture with respect to the Euro
Notes is euro and with respect to the Dollar Notes is U.S. dollars. Any amount received or recovered in a currency other than euros in respect of the Euro Notes or U.S. dollars in respect of the Dollar Notes under this Indenture (whether as a result
of, or the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Trustee, any Proceeds Loan Obligor or otherwise) by the Holder in respect of any sum expressed to be due to it from the Issuer
will constitute a discharge of the Issuer only to the extent of the euro amount or U.S. dollar amount, as the case may be, which the recipient is able to purchase with the amount so received or recovered in that other currency on the date of that
receipt or recovery (or, if it is not possible to make that purchase on that date, on the first date on which it is possible to do so). If that euro amount or U.S. dollar amount, as the case may be, is less than the euro amount or U.S. dollar
amount, as the case may be, expressed to be due to the recipient under this Indenture or any Note, the Issuer will indemnify the recipient against any loss sustained by it as a result. In any event the Issuer will indemnify the recipient against the
cost of making any such purchase. 
 For the purposes of this indemnity, it will be sufficient for a Holder or the Trustee to certify that
it would have suffered a loss had an actual purchase of euro or U.S. dollars, as the case may be, been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of euro or U.S. dollars, as the case
may be, on such date had not been practicable, on the first date on which it would have been practicable). These indemnities constitute a separate and independent obligation from the other obligations of the Issuer, will give rise to a separate and
independent cause of action, will apply irrespective of any waiver granted by any Holder or the Trustee and will continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due
under this Indenture or any Note or any other judgment or order, subject Article 13 hereof. 
 Section 14.08 Governing Law 

THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE AND THE NOTES. 

  
 144 

 Section 14.09 Submission to Jurisdiction; Appointment of Agent for Service 

To the fullest extent permitted by applicable law, each of the parties hereto irrevocably submits to the
non-exclusive jurisdiction of and venue in any federal or state court in the Borough of Manhattan in the City of New York, County and State of New York, United States of America, in any suit or proceeding
based on or arising out of or under or in connection with this Indenture and the Notes and irrevocably agrees that all claims in respect of such suit or proceeding may be determined in any such court. The Issuer and each Guarantor, to the fullest
extent permitted by applicable law, irrevocably and fully waives the defense of an inconvenient forum to the maintenance of such suit or proceeding, and irrevocably and fully waives any right to trial by jury, and the Issuer hereby irrevocably
designates and appoints Law Debenture Corporate Services Inc. (the “Registered Agent”) (whose registered office as of the date hereof is Law Debenture Corporate Services Inc., 400 Madison Avenue, 4th Floor, New York, New York 10017,
USA), as its registered agent upon whom process may be served in any such suit or proceeding. The Issuer represents that it has notified the Registered Agent of such designation and appointment and that the Registered Agent has accepted the same in
writing. The Issuer further agrees that service of process upon its Registered Agent and written notice of said service to the Issuer mailed by first class mail or delivered to its Registered Agent shall be deemed in every respect effective service
of process upon the Issuer in any such suit or proceeding. Nothing herein shall affect the right of any person to serve process in any other manner permitted by law. The Issuer agrees that a final action in any such suit or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other lawful manner. 
 The Issuer hereby
irrevocably waives, to the extent permitted by law, any immunity to jurisdiction to which it may otherwise be entitled (including, without limitation, immunity to pre-judgment attachment, post-judgment attachment and execution) in any legal suit, action or proceeding against it arising out of or based on this Indenture, the Notes or the transactions contemplated hereby. 

The provisions of this Section 14.09 are intended to be effective upon the execution of this Indenture and the Notes without any further
action by the Issuer or the Trustee and the introduction of a true copy of this Indenture into evidence shall be conclusive and final evidence as to such matters. 

Section 14.10 No Adverse Interpretation of Other Agreements 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Issuer or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 14.11 Successors 

All agreements of the Issuer in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will
bind its successors. 
 Section 14.12 Severability 

In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions will not in any way be affected or impaired thereby. 
 Section 14.13 Counterpart Originals 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same
agreement. 

  
 145 

 Section 14.14 Table of Contents, Headings, etc. 

The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof. 

Section 14.15 Prescription 
 Claims
against the Issuer for the payment of principal or Additional Amounts, if any, on the Notes will be prescribed ten years after the applicable due date for payment thereof. Claims against the Issuer for the payment of interest on the Notes will be
prescribed five years after the applicable due date for payment of interest. 
 Section 14.16 USA PATRIOT Act 

The parties hereto acknowledge that in order to help the United States government fight the funding of terrorism and money laundering
activities, pursuant to Federal regulations that became effective on October 1, 2003, Section 326 of the USA PATRIOT Act requires all financial institutions to obtain, verify, record and update information that identifies each person
establishing a relationship or opening an account. The parties to this Indenture agree that they will provide Deutsche Trustee Company Limited such information as it may request, from time to time, in order for Deutsche Trustee Company Limited to
satisfy the requirements of the USA PATRIOT Act, including but not limited to the name, address, tax identification number and other information that will allow it to identify the individual or entity who is establishing the relationship or opening
the account and may also ask for formation documents such as articles of incorporation or other identifying documents to be provided. 

[Signatures on following page] 

  
 146 

 Dated as of January 29, 2015 

 

			
	Ziggo Bond Finance B.V.
	as Issuer
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Attorney-in-fact A
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Attorney-in-fact B

 (Signature page to Indenture) 

 
			
	DEUTSCHE TRUSTEE COMPANY LIMITED,
	as Trustee and Security Trustee
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Associate Director
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Associate Director
	
	 DEUTSCHE BANK TRUST COMPANY AMERICAS

as Dollar Notes Paying Agent, Registrar and Transfer Agent

		
	By:		Deutsche Bank National Trust Company
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President
	
	 DEUTSCHE BANK AG, LONDON BRANCH
 as
Euro Notes Paying Agent

		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Vice President

  
 (Signature page to
Indenture) 

 
			
	DEUTSCHE BANK LUXEMBOURG S.A.,
	as Euro Notes Registrar and Transfer Agent
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Attorney
		
	By:		 Authorized Signatory

	Name:		 Authorized Signatory

	Title:		Attorney

  
 (Signature page to
Indenture) 

 FORM OF GLOBAL NOTE 

[Face of Global Note] 
 Ziggo Bond
Finance B.V. 
 [4.625%]1[5.875%]2
Senior Notes due 2025 
  

			
	No. [    ]	  	 [CUSIP: [for Reg S][—] [for 144A]
[—]]2
 ISIN: [for Reg S][—] [for 144A] [—]
 [COMMON CODE: [for Reg
S][—] [for 144A] [—]]1

 

[€]1[$]2    
    
  
 Issue
Date:                    

 Ziggo Bond Finance B.V., a private limited company incorporated under the laws of the Netherlands, having its registered
office at Naritaweg 165, Telestone 8, 1043 BW, Amsterdam, The Netherlands, registered with the Dutch Commercial Register under number 61995460, for value received, promise to pay to [Cede &
Co.]2[BT Globenet Nominees Limited]1, or registered assigns, upon surrender hereof, the principal sum as set forth on Schedule A attached
hereto on January 15, 2025 (with such adjustments as are listed in such schedule). 
 Capitalized terms used herein shall have the same meanings
assigned to them in the Indenture referred to below unless otherwise indicated. 
 Interest Payment Dates: January 15 and July 15. 

Record Dates: One Clearing System Business Day immediately preceding the related Interest Payment Date. 

Upon the consummation of the Ziggo Group Assumption, Ziggo Bond Finance B.V., the Fold-In Issuer and the Trustee will execute and deliver an accession
agreement (a “Note Accession Agreement”) in form and substance substantially similar to Schedule B hereto pursuant to which (i) the Fold-In Issuer will accede to this Note and assume all obligations of Ziggo Bond Finance B.V.
as Issuer under this Note and (ii) Ziggo Bond Finance B.V. will be released from its obligations under this Note. 
 Additional provisions of this Note
are set forth on the other side of this Note. 
 (Signature pages to follow) 

 

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

  
 A-1 

 IN WITNESS WHEREOF, Ziggo Bond Finance B.V. has caused this Note to be signed manually by its duly authorized
officers. 
  

									
	Dated:	 	  
	 		 		 	
				
		 		 		 	ZIGGO BOND FINANCE B.V.
				
		 		 		 	AS ISSUER
					
		 		 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:
					
		 		 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:

 Certificate of Authentication 
  

			
	 This is one of the Notes referred to in the within-mentioned Indenture:

 
 [DEUTSCHE TRUSTEE COMPANY LIMITED, as Trustee]

		
	By:	 	  

		 	Authorized Signatory

 [4.625%]1 [5.875%]2 SENIOR NOTES DUE 2025 
 THIS GLOBAL NOTE IS HELD BY THE [DEPOSITARY]2[COMMON DEPOSITARY]1 (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF,
AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES [OTHER THAN AS PROVIDED IN THE FOLLOWING PARAGRAPH]2 EXCEPT THAT (I) THIS GLOBAL NOTE MAY BE TRANSFERRED OR EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE; (II) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE; AND (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.12 OF THE INDENTURE. 
 [UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS GLOBAL NOTE MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR OTHER SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE U.S.
SECURITIES ACT, (2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION
DATE”) THAT IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATES OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF SUCH NOTE)]
[IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF
REGULATION S) IN RELIANCE ON REGULATION S], ONLY (A) TO THE ISSUER, 
  

	1 	Applicable to Euro Notes 

	2 	 Applicable to Dollar Notes 

 
(B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE
144A UNDER THE U.S. SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S
UNDER THE U.S. SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER,
SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE. 
 BY ACCEPTING THIS NOTE (OR AN INTEREST IN THE NOTE REPRESENTED HEREBY) EACH ACQUIRER AND EACH TRANSFEREE IS DEEMED TO
REPRESENT, WARRANT AND AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT HOLDS THIS NOTE OR
ANY INTEREST HEREIN IT WILL NOT BE, AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)),
SUBJECT TO THE PROVISIONS OF PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), APPLIES, OR ANY ENTITY WHOSE UNDERLYING ASSETS
INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3-101 (AS MODIFIED BY SECTION 3(42) OF ERISA)), BY REASON OF SUCH AN EMPLOYEE BENEFIT PLAN’S AND/OR PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A
“BENEFIT PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN WHICH IS SUBJECT TO ANY U.S. FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE
PROHIBITED TRANSACTION PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND NO PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN
INVESTOR OR SUCH A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, OR (B) ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER
SECTION 406 OF ERISA AND/OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, A NON-EXEMPT VIOLATION OF ANY SIMILAR LAWS); (2) NEITHER THE ISSUER NOR ANY OF ITS AFFILIATES IS A
“FIDUCIARY” (WITHIN THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE CODE OR, WITH RESPECT TO A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, ANY DEFINITION OF “FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO
THE PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THIS NOTE, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THIS NOTE, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS
AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION WITH THIS NOTE AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS NOTE; AND (3) IT WILL NOT SELL OR OTHERWISE
TRANSFER THIS NOTE OR 

 
ANY INTEREST HEREIN OTHERWISE THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS, WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND
DISPOSITION OF THIS NOTE. 
 The following legend shall be included to the extent applicable: 

[THE FOLLOWING INFORMATION IS SUPPLIED SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES. THIS NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”) WITHIN
THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND THIS LEGEND IS REQUIRED BY SECTION 1275(c) OF THE CODE.] 

 [Back of Global Note] 

The term “Issuer” means Ziggo Bond Finance B.V. and any and all successors thereto. Capitalized terms used herein shall have the
meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (A)
INTEREST. The Issuer promises to pay interest on the principal amount of this Note at [4.625%]1[5.875%]2
per annum from the date of issuance until maturity and shall pay the Additional Amounts payable pursuant to Section 4.18 of the Indenture referred to below. The Issuer will pay interest and Additional Amounts, if any, semi-annually in arrears
on January 15 and July 15 of each year or, if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Regular Record Date referred to on the
face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be
                    . The Issuer shall pay interest (including post-petition interest in any proceeding under any bankruptcy, insolvency,
reorganization or other similar law) on overdue principal and premium, if any, at a rate that is 1% per annum in excess of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any
bankruptcy, insolvency, reorganization or other similar law) on overdue installments of interest and Additional Amounts (without regard to any applicable grace periods) at the same rate to the extent lawful. Interest will be computed on the basis of
a 360-day year of twelve 30-day months. 
 (B) METHOD OF PAYMENT. The
Issuer will pay cash interest on the Notes (except defaulted interest) and Additional Amounts to the Persons who are registered Holders at the close of business on January 1 and July 1 immediately preceding the Interest Payment Date, even
if such Notes are canceled after such Regular Record Date and on or before such Interest Payment Date, except as provided in Section 2.13 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium
and Additional Amounts, if any, and interest at the office or agency of the Issuer maintained for such purpose; provided that, at the option of the Issuer, payment of interest and Additional Amounts with respect to Definitive Registered Notes
may be made by check mailed to the Holders at their addresses set forth in the Register of Holders; and provided further that payment by wire transfer of immediately available funds will be required with respect to principal of and interest,
premium and Additional Amounts on, all Global Notes the Holders of which shall have provided wire transfer instructions to the Issuer or the Paying Agent. Such payment shall be in [euro]1[dollar]2. Holders must surrender Notes to a Paying Agent to collect principal and/or premium payments. 

(C) PAYING AGENT AND REGISTRAR. Initially, Deutsche Bank AG,
London Branch, will act as Euro Paying Agent, Deutsche Bank Trust Company Americas will act as Dollar Paying Agent and [Deutsche Bank Luxembourg S.A.]1 [Deutsche Bank Trust Company Americas]2 will act as Registrar. The Issuer may change any Paying Agent or Registrar without notice to any Holder. An Issuer may act as Registrar or Paying Agent. 

(D) INDENTURE. The Issuer issued the Notes under an Indenture, dated as of January 29, 2015 (the
“Indenture”), among, inter alios, the Issuer and the Trustee named therein. The terms of the Notes include those stated in the Indenture and the Notes are subject to all such terms of the Indenture. Holders are referred to
the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

 

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

 (E) NOTE ACCESSION AGREEMENT. The Trustee
will sign any Note Accession Agreement authorized pursuant to this Note. In executing a Note Accession Agreement, the Trustee will be entitled to receive and will be fully protected in relying upon, in addition to the documents required by
Section 14.03 of the Indenture, an Officer’s Certificate and Opinion of Counsel stating that the execution of such Note Accession Agreement is authorized or permitted by or not in breach of this Note and that such Note Accession Agreement
is the legal, valid and binding obligation of each of Ziggo Bond Finance B.V. and the Fold-In Issuer enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions of this Note and the
Indenture. Upon the effectiveness of the Note Accession Agreement, Ziggo Bond Finance B.V. shall be fully released from all of its obligations under the Notes and the Indenture 

(F) INTERCREDITOR AGREEMENTS AND NOTE SECURITY
DOCUMENTS. Each Holder of the Notes, by accepting a Note, agrees to be bound by all of the terms and provisions of the Indenture, the Note Security Documents and the Collateral Sharing Agreement, or the Priority
Agreement, as applicable, as the same may be amended from time to time, and acknowledges that the claims of Holders are subject to the Collateral Sharing Agreement or the Priority Agreement, as applicable. Each Holder, by accepting a Note,
authorizes and requests the Security Trustee to, on such Holder’s behalf, (a) make all undertakings, representations, offers and agreements of the Security Trustee set forth in the Collateral Sharing Agreement, or the Priority Agreement,
as applicable, and, to the extent applicable, the Note Security Documents and (b) take all actions called for to be taken by the Security Trustee in the Collateral Sharing Agreement or the Priority Agreement, as applicable, and the Note
Security Documents. Each Holder, by accepting a Note, authorizes and requests the Security Trustee to (a) execute the Note Security Documents, (b) make all undertakings, representations, offers and agreements of the Security Trustee in the
Note Security Documents and (c) take all actions called for to be taken by the Security Trustee in the Note Security Documents. 
 (G)
ADDITIONAL AMOUNTS. The Issuer will pay to the Holders any Additional Amounts as may become payable under Section 4.18 of the Indenture. 

(H) REDEMPTION AND REPURCHASE; DISCHARGE PRIOR TO
REDEMPTION OR MATURITY. 
  

	 	(a)	This Note is subject to optional redemption, and may be the subject of a Change of Control Offer or an Asset Disposition Offer, as further described in the Indenture. Other than pursuant to Section 3.08 of the
Indenture, there is no sinking fund or mandatory redemption applicable to this Note. 

  

	 	(b)	If the Issuer deposits with the Trustee money or [European Government Obligations]1[U.S. Government Obligations]2
sufficient to pay the then outstanding principal of, premium, if any, and accrued interest on the Notes to redemption or maturity, the Issuer may in certain circumstances be discharged from the Indenture and the Notes or may be discharged from
certain of their obligations under certain provisions of the Indenture. 

 (I) DENOMINATIONS,
TRANSFER, EXCHANGE. The Global Notes are in global registered form without coupons attached. [The Euro Global Notes will represent the aggregate principal amount of all the Euro Notes issued and not
yet cancelled other than 
  

	1 	Applicable to Euro Notes 

	2 	 Applicable to Dollar Notes 

 
Euro Definitive Registered Notes.]1[The Dollar Global Notes will represent the aggregate principal amount of all the Dollar Notes issued and
not yet cancelled other than Dollar Definitive Registered Notes.]2 The transfer of Notes will be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee
may require a Holder, among other things, to furnish appropriate endorsements, transfer documents and opinions, and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to the Indenture,
there are certain periods during which the Trustee will not be required to authenticate, register the transfer of or exchange any Note or certain portions of a Note. 

(J) PERSONS DEEMED OWNERS. The registered Holder of a Note will be treated
as its owner for all purposes. 
 (K) AMENDMENT, SUPPLEMENT AND
WAIVER. Subject to certain exceptions, the Indenture, the Notes, the Collateral Sharing Agreement, the Priority Agreement and the Note Security Documents may be amended, or default may be waived, with the consent of
the Holders of a majority in principal amount of the outstanding Notes. Without notice to or consent of any Holder, the Issuer, the Company and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any
ambiguity, defect or inconsistency. 
 (L) DEFAULTS AND REMEDIES. Except
as set forth in Section 6.02 of the Indenture, if an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due or
payable. If a bankruptcy or insolvency default with respect to an Issuer, a Guarantor, any Restricted Subsidiary that is a Significant Subsidiary (or a group of Restricted Subsidiaries that would constitute a Significant Subsidiary) occurs and is
continuing, the Notes automatically become due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes.
Holders of a majority in principal amount of the Notes then outstanding may direct the Trustee in its exercise of remedies with respect to the Note Security Documents. 

(M) TRUSTEE DEALINGS WITH ISSUER. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer, or their Affiliates, and may otherwise deal with the Issuer, or its Affiliates, as if it were not the Trustee. 

(N) NO RECOURSE AGAINST OTHERS. No director, officer,
employee, incorporator member or stockholder of the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any other Proceeds Loan Obligor, any of their respective parent companies or any of their respective Subsidiaries or
Affiliates, as such, shall have any liability for any obligations of the Issuer under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives
and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 (O)
AUTHENTICATION. This Note shall not be valid until authenticated by the manual signature of the Trustee or another Authenticating Agent. 

(P) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO
CONSTRUE THE INDENTURE AND THIS NOTE. 
 (Q) ABBREVIATIONS. Customary abbreviations may be used in the
name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gifts
to Minors Act). 

 (R) [CUSIP AND]2 ISIN
[AND COMMON CODE NUMBERS]1. [Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Issuer has caused CUSIP numbers to be printed on the Dollar Notes and the Trustee may use CUSIP numbers in notices as a convenience to Holders.]2 The Issuer has caused ISIN numbers
to be printed on the Notes and the Trustee may use such ISIN numbers in notices as a convenience to Holders. [In addition, the Issuer has caused Common Code numbers to be printed on the Euro Notes and the Trustee may use Common Code numbers in
notices as a convenience to Holders.]1 No representation is made as to the accuracy of any such numbers either as printed on the Notes or as contained in any notice and reliance may be placed only
on the other identification numbers placed thereon. 
 (S) COPY OF INDENTURE
AND OTHER AGREEMENTS. The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture, the Note Security Documents, the Covenant Agreement, the
Collateral Sharing Agreement and/or the Priority Agreement. Requests may be made to the Issuer, c/o Ziggo Bond Finance B.V., Naritaweg 165, Telestone 8, 1043 BW Amsterdam, The Netherlands, Attn: Hans-Peter Visser, Fax: +31 205 722 650. 

 

	2 	Applicable to Dollar Notes 

	1 	Applicable to Euro Notes 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to: 
  

	
	  

	(Insert assignee’s legal name)
	
	  

	(Insert assignee’s soc. sec. or tax I.D. no.)
	
	  

	  

	  

	  

	  

	(Print or type assignee’s name, address and zip code)

  

			
	and irrevocably appoint	 	  

 to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 

			
	Date:	 	  

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Note)

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10
or 4.14 of the Indenture, check the appropriate box below: 
  

			
	 ̈        Section 4.10	  	 ̈        Section 4.14

 If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or
Section 4.14 of the Indenture, state the amount you elect to have purchased: 

[€]1[$]2    
     
  
  

									
	Date:	 	  

 

			
		
	Your Signature:	 	  

 
			
	(Sign exactly as your name appears on the face of this Note)
		
	Tax Identification No.:	 	  

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

 SCHEDULE A 

EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The initial principal amount of this Global Note is [€]1[$]2        . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Registered Note, or exchanges of a
part of another Global Note or Definitive Registered Note for an interest in this Global Note, have been made: 
  

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

  

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

 SCHEDULE B 

FORM OF NOTE ACCESSION AGREEMENT TO GLOBAL NOTE 

This ACCESSION AGREEMENT (this “Agreement”), dated as of
                    , is made by Ziggo Bond Finance B.V. a private limited company incorporated under the laws of the Netherlands, having its
registered office at Naritaweg 165, Telestone 8, 1043 BW, Amsterdam, The Netherlands, registered with the Dutch Commercial Register under number 61995460 (the “Issuer”),
            (the “Fold-In Issuer”) and Deutsche Trustee Company Limited, as the Trustee (“Trustee”), under the Note referred to below. 

WHEREAS, the Issuer has heretofore executed and delivered one or more global notes (each a “Global Note”), dated as of
                    , providing for the issuance of aggregate principal amount of $         in aggregate
principal amount of 5.875% Senior Notes due 2025 and/or €         in aggregate principal amount of 4.625% Senior Notes due 2025, pursuant to the terms of the Indenture dated as of January 29, 2015
among the Issuer and the Trustee, among others (the “Indenture”). 
 WHEREAS, each Global Note provides that under certain circumstances
the Fold-In Issuer shall execute and deliver to the Trustee this Agreement pursuant to which the Fold-In Issuer shall accede to such Global Note, as Fold-In Issuer, and assume all of the obligations of Issuer under each such Global Note and the
Indenture. 
 WHEREAS, each Global Note provides that upon the execution and delivery of this Agreement, the Issuer shall be released from its obligations
under such Global Note and the Indenture. 
 WHEREAS, pursuant to Clause (E) of each Global Note, the Trustee is authorized to execute and deliver this
Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Issuer, the Fold-In Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1. CAPITALIZED TERMS. Capitalized terms used in this Agreement and not otherwise defined in this Agreement shall
have the meanings ascribed to them in the Indenture. 
 2. AGREEMENT TO ACCEDE. The Fold-In
Issuer hereby agrees to accede, as Issuer, to the Global Notes on the terms and conditions set forth in this Agreement and the Global Notes. In particular connection with such succession, the Fold-In Issuer agrees (a) to be bound by all of the
covenants, stipulations, promises and agreements set forth in the Global Notes and (b) to perform in accordance with its terms all of the obligations which by the terms of the Global Notes are required to be performed by the Issuer. 

3. GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS AGREEMENT. 

4. COUNTERPARTS. The parties may sign any number of copies of this Agreement. Each signed copy shall be an original, but all of
them together represent the same agreement. 
 5. EFFECT OF HEADINGS. The section headings
herein are for convenience only and shall not affect the construction hereof. 
 6. THE TRUSTEE. The Trustee
shall not be responsible in any manner whatsoever for or in respect of the validity of sufficiency of this Agreement or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer or the Fold-In Issuer.

 7. RATIFICATION OF GLOBAL NOTES
AND THE INDENTURE; ACCESSION AGREEMENT PART OF GLOBAL NOTE AND THE
INDENTURE. Except as expressly amended hereby, each Global Note and the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Agreement
shall form a part of the Global Notes and the Indenture for all purposes. 
 8. SUCCESSORS. All covenants and agreements in
this Agreement by the parties hereto shall bind their successors. 
 (Signature page to follow) 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and attested, as of the date first
above written. 
  

			
	ZIGGO BOND FINANCE B.V.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	  

	as the Fold-Issuer
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	DEUTSCHE TRUSTEE COMPANY LIMITED
as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT B 

FORM OF DEFINITIVE REGISTERED NOTE 

[Face of Definitive Registered Note] 

[4.625%]1[5.875%]2 Senior Notes due
2025 
  

			
	No.    	  	[€]1[$]2        

 Ziggo Bond Finance B.V. 

Naritaweg 165 
 Telestone 8 

1043 BW Amsterdam 
 The Netherlands

 Ziggo Bond Finance B.V., a private limited company incorporated under the laws of the Netherlands, having its registered office at Naritaweg 165,
Telestone 8, 1043 BW, Amsterdam, The Netherlands, registered with the Dutch Commercial Register under number 61995460, for value received, promise to pay to [Cede & Co.]2[BT Globenet
Nominees Limited]1, or registered assigns, upon surrender hereof, the principal sum as set forth on Schedule A attached hereto on January 15, 2025 (with such adjustments as are listed in such
schedule). 
 Capitalized terms used herein shall have the same meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 Interest Payment Dates: January 15 and July 15. 

Record Dates: January 1 and July 1 immediately preceding the related Interest Payment Date. 

Upon the consummation of the Ziggo Group Assumption, Ziggo Bond Finance B.V., the Fold-In Issuer and the Trustee will execute and deliver an accession
agreement (a “Note Accession Agreement”) in form and substance substantially similar to Schedule B hereto pursuant to which (i) the Fold-In Issuer will accede to this Note and assume all obligations of Ziggo Bond Finance B.V.
as Issuer under this Note and (ii) Ziggo Bond Finance B.V. will be released from its obligations under this Note. 
 Additional provisions of this Note
are set forth on the other side of this Note. 
 (Signature pages to follow) 

 

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

 IN WITNESS WHEREOF, Ziggo Bond Finance B.V. has caused this Note to be signed manually by its duly authorized
officers. 
 Dated: 
  

					
	ZIGGO BOND FINANCE B.V.
	
	AS ISSUER
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 (Signature page to Definitive Registered Note) 

  
 B-2 

 Certificate of Authentication 
  

			
	This is one of the Notes referred to in the within-mentioned Indenture:
	
	[DEUTSCHE TRUSTEE COMPANY LIMITED,
as Trustee]
		
	By:	 	  

		 	Authorized Signatory

  
 B-3 

 [4.625%]1[5.875%]2 SENIOR NOTES DUE 2025 
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 
 THE HOLDER OF THIS NOTE BY
ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE
TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT, (2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER
SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS IN THE CASE OF RULE 144A NOTES: ONE YEAR AND IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF
AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATES OF THE ISSUES WERE THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE
UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS
DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE U.S. SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
U.S. SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
 BY ACCEPTING THIS
NOTE (OR AN INTEREST IN THE NOTES REPRESENTED HEREBY) EACH ACQUIRER AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN
(1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT HOLDS SUCH NOTE OR ANY INTEREST HEREIN IT WILL NOT BE, AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN
SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)), SUBJECT TO THE PROVISIONS OF PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED
STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), 
  

	1 	Applicable to Euro Notes 

	2 	 Applicable to Dollar Notes 

  
 B-4 

 
APPLIES, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3-101 (AS MODIFIED
BY SECTION 3(42) OF ERISA)), BY REASON OF SUCH AN EMPLOYEE BENEFIT PLAN’S AND/OR PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “BENEFIT PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN WHICH IS SUBJECT TO ANY
FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE PROHIBITED TRANSACTION PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND
NO PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN INVESTOR OR SUCH A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, OR (B) ITS ACQUISITION, HOLDING AND DISPOSITION OF
THIS NOTE OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA AND/OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A GOVERNMENTAL, CHURCH OR
NON-U.S. PLAN, A NON-EXEMPT VIOLATION OF ANY SIMILAR LAWS); (2) NEITHER OF THE ISSUER NOR ANY OF ITS AFFILIATES IS A “FIDUCIARY” (WITHIN THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE CODE OR, WITH RESPECT
TO A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, ANY DEFINITION OF “FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO THE PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THIS NOTE, OR AS A RESULT OF ANY EXERCISE BY THE
ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THIS NOTE, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION
WITH THIS NOTE AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS NOTE; AND (3) IT WILL NOT SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY INTEREST HEREIN OTHERWISE THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME
REPRESENTATIONS, WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE. 
 The following legend shall be
included to the extent applicable: 
 [THE FOLLOWING INFORMATION IS SUPPLIED SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES. THIS NOTE WAS ISSUED WITH
ORIGINAL ISSUE DISCOUNT (“OID”) WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND THIS LEGEND IS REQUIRED BY SECTION 1275(c) OF THE CODE.] 

  
 B-5 

 [Back of Definitive Registered Note] 

The term “Issuer” means Ziggo Bond Finance B.V. and any and all successors thereto. Capitalized terms used herein shall have the
meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (A)
INTEREST. The Issuer promises to pay interest on the principal amount of this Note at [4.625%]1[5.875%]2
per annum from the date of issuance until maturity and shall pay the Additional Amounts payable pursuant to Section 4.18 of the Indenture referred to below. The Issuer will pay interest and Additional Amounts, if any, semi-annually in arrears
on January 15 and July 15 of each year or, if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Regular Record Date referred to on the
face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be
                    . The Issuer shall pay interest (including post-petition interest in any proceeding under any bankruptcy, insolvency,
reorganization or other similar law) on overdue principal and premium, if any, at a rate that is 1% per annum in excess of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any
bankruptcy, insolvency, reorganization or other similar law) on overdue installments of interest and Additional Amounts (without regard to any applicable grace periods) at the same rate to the extent lawful. Interest will be computed on the basis of
a 360-day year of twelve 30-day months. 
 (B) METHOD OF PAYMENT. The
Issuer will pay cash interest on the Notes (except defaulted interest) and Additional Amounts to the Persons who are registered Holders at the close of business one Clearing System Business Day immediately preceding the Interest Payment Date, even
if such Notes are canceled after such Regular Record Date and on or before such Interest Payment Date, except as provided in Section 2.13 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium
and Additional Amounts, if any, and interest at the office or agency of the Issuer maintained for such purpose; provided that, at the option of the Issuer, payment of interest and Additional Amounts with respect to Definitive Registered Notes
may be made by check mailed to the Holders at their addresses set forth in the Register of Holders; and provided further that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium
and Additional Amounts on, all Global Notes the Holders of which shall have provided wire transfer instructions to the Issuer or the Paying Agent. Such payment shall be in [euro]1[dollar]2. Holders must surrender Notes to a Paying Agent to collect principal and/or premium payments. 

(C) PAYING AGENT AND REGISTRAR. Initially, Deutsche Bank AG,
London Branch, will act as Euro Paying Agent, Deutsche Trust Company Americas will act as Dollar Paying Agent in New York and [Deutsche Bank Luxembourg S.A.]1 [Deutsche Bank Trust Company
Americas]2 will act as Registrar. The Issuer may change any Paying Agent or Registrar without notice to any Holder. An Issuer may act as Registrar or Paying Agent. 

(D) INDENTURE. The Issuer issued the Notes under an Indenture, dated as of January 29, 2015 (the
“Indenture”), among, inter alios, the Issuer and the Trustee named therein. The terms of the Notes include those stated in the Indenture and the Notes are subject to all such terms of the Indenture. Holders are referred to
the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

 

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

  
 B-6 

 (E) NOTE ACCESSION AGREEMENT. The Trustee
will sign any Note Accession Agreement authorized pursuant to this Note. In executing a Note Accession Agreement, the Trustee will be entitled to receive and will be fully protected in relying upon, in addition to the documents required by
Section 14.03 of the Indenture, an Officer’s Certificate and Opinion of Counsel stating that the execution of such Note Accession Agreement is authorized or permitted by or not in breach of this Note and that such Note Accession Agreement
is the legal, valid and binding obligation of each of Ziggo Bond Finance B.V. and the Fold-In Issuer enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions of this Note and the
Indenture. Upon the effectiveness of the Note Accession Agreement, Ziggo Bond Finance B.V. shall be fully released from all of its obligations under the Notes and the Indenture. 

(F) INTERCREDITOR AGREEMENTS AND NOTE SECURITY
DOCUMENTS. Each Holder of the Notes, by accepting a Note, agrees to be bound by all of the terms and provisions of the Indenture, the Note Security Documents and the Collateral Sharing Agreement, or the Priority Agreement, as
applicable, as the same may be amended from time to time, and acknowledges that the claims of Holders are subject to the Collateral Sharing Agreement or the Priority Agreement, as applicable. Each Holder, by accepting a Note, authorizes and requests
the Security Trustee to, on such Holder’s behalf, (a) make all undertakings, representations, offers and agreements of the Security Trustee set forth in the Collateral Sharing Agreement, or the Priority Agreement, as applicable, and, to
the extent applicable, the Note Security Documents and (b) take all actions called for to be taken by the Security Trustee in the Collateral Sharing Agreement or the Priority Agreement, as applicable, and the Note Security Documents. Each
Holder, by accepting a Note, authorizes and requests the Security Trustee to (a) execute the Note Security Documents, (b) make all undertakings, representations, offers and agreements of the Security Trustee in the Note Security Documents
and (c) take all actions called for to be taken by the Security Trustee in the Note Security Documents. 
 (G)
ADDITIONAL AMOUNTS. The Issuer will pay to the Holders any Additional Amounts as may become payable under Section 4.18 of the Indenture. 

(H) NOTE REDEMPTION AND REPURCHASE; DISCHARGE
PRIOR TO REDEMPTION OR MATURITY. 
  

	 	(a)	This Note is subject to optional redemption, and may be the subject of a Change of Control Offer or an Asset Disposition Offer, as further described in the Indenture. Other than as provided in Section 3.08, there
is no sinking fund or mandatory redemption applicable to this Note. 

 (I) (b) If the Issuer deposits with the Trustee money
or [European Government Obligations]1[U.S. Government Obligations]2 sufficient to pay the then outstanding principal of, premium, if any, and
accrued interest on the Notes to redemption or maturity, the Issuer may in certain circumstances be discharged from the Indenture and the Notes or may be discharged from certain of their and the Company’s obligations under certain provisions of
the Indenture. 
 (J) DENOMINATIONS, TRANSFER, EXCHANGE. The [Euro]1[Dollar]2 Definitive Registered Notes are in registered form without coupons attached in denominations of [€100,000 and integral multiples of
€1,000 above €100,000]1[$200,000 and integral multiples 
  

	1 	Applicable to Euro Notes 

	2 	 Applicable to Dollar Notes 

  
 B-7 

 
of $1,000 above $200,000]2. The transfer of Notes will be registered and Notes may be exchanged as provided in the Indenture. The Registrar
and the Trustee may require a Holder, among other things, to furnish appropriate endorsements, transfer documents and opinions, and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to
the Indenture, there are certain periods during which the Trustee will not be required to authenticate, register the transfer of or exchange any Note or certain portions of a Note. 

(K) PERSONS DEEMED OWNERS. The registered Holder of a Note will be treated
as its owner for all purposes. 
 (L) AMENDMENT, SUPPLEMENT AND
WAIVER. Subject to certain exceptions, the Indenture, the Notes, the Collateral Sharing Agreement, the Priority Agreement and the Note Security Documents may be amended, or default may be waived, with the consent of
the Holders of a majority in principal amount of the outstanding Notes. Without notice to or consent of any Holder, the Issuer and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or
inconsistency. 
 (M) DEFAULTS AND REMEDIES. Except as set forth in
Section 6.02 of the Indenture, if an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due or payable. If a
bankruptcy or insolvency default with respect to the Issuer, any Restricted Subsidiary that is a Significant Subsidiary (or a group of Restricted Subsidiaries that would constitute a Significant Subsidiary) occurs and is continuing, the Notes
automatically become due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Holders of a majority
in principal amount of the Notes then outstanding may direct the Trustee in its exercise of remedies with respect to the Note Security Documents. 

(N) TRUSTEE DEALINGS WITH ISSUER. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer and may otherwise deal with the Issuer as if it were not the Trustee. 

(O) NO RECOURSE AGAINST OTHERS. No director, officer,
employee, incorporator, member or shareholder of the Issuer, the Company, UPC NL Holdco, the Affiliate Proceeds Loan Obligor or any other Proceeds Loan Obligor, any of their respective parent companies or any of their respective Subsidiaries or
Affiliates, as such, shall have any liability for any obligations of the Issuer under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives
and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 (P)
GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE. 

(Q) AUTHENTICATION. This Note shall not be valid until authenticated by the manual signature of the
Trustee or another Authenticating Agent. 
 (R) ABBREVIATIONS. Customary abbreviations may be used in
the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform
Gifts to Minors Act). 

  
 B-8 

 (S) [CUSIP AND]2 ISIN
[AND COMMON CODE NUMBERS]1. [Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Issuer has caused CUSIP numbers to be printed on the Dollar Notes and the Trustee may use CUSIP numbers in notices as a convenience to Holders.]2 The Issuer has caused ISIN numbers
to be printed on the Notes and the Trustee may use such ISIN numbers in notices as a convenience to Holders. [In addition, the Issuer has caused Common Code numbers to be printed on the Euro Notes and the Trustee may use Common Code numbers in
notices as a convenience to Holders.]1 No representation is made as to the accuracy of any such numbers either as printed on the Notes or as contained in any notice and reliance may be placed only
on the other identification numbers placed thereon. 
 (T) COPY OF INDENTURE
AND OTHER AGREEMENTS. The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture, the Note Security Documents, the Collateral Sharing
Agreement and/or the Priority Agreement. Requests may be made to the Issuer, c/o Ziggo Bond Finance B.V., Naritaweg 165, Telestone 8, 1043 BW Amsterdam, The Netherlands, Attn: Hans-Peter Visser, Fax: +31 205 722 650. 

 

	2 	Applicable to Dollar Notes 

	1 	Applicable to Euro Notes 

  
 B-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

(I) or (we) assign and transfer this Note to: 
  

	
	  

	(Insert assignee’s legal name)
	
	  

	(Insert assignee’s soc. sec. or tax I.D. no.)
	
	  

	  

	  

	  

	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint 

			
	  
	  	

 to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 

			
	Date:	 	  

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Note)

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 B-10 

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10
or 4.14 of the Indenture, check the appropriate box below: 
  

			
	 ̈        Section 4.10	  	 ̈        Section 4.14

 If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or
Section 4.14 of the Indenture, state the amount you elect to have purchased: 

[€]1[$]2   
          
  

			
	Date:	 	  

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Note)

 
			
		
	Tax Identification No.:	 	  

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 

	1	Applicable to Euro Notes 

	2	Applicable to Dollar Notes 

  
 B-11 

 SCHEDULE B 

FORM OF NOTE ACCESSION AGREEMENT TO DEFINITIVE REGISTERED NOTE 

This ACCESSION AGREEMENT (this “Agreement”), dated as of
                    , is made by Ziggo Bond Finance B.V. a private limited company incorporated under the laws of the Netherlands, having its
registered office at Naritaweg 165, Telestone 8, 1043 BW, Amsterdam, The Netherlands, registered with the Dutch Commercial Register under number 61995460 (the “Issuer”),
             (the “Fold-In Issuer”) and Deutsche Trustee Company Limited, as the Trustee (“Trustee”), under the Note referred to below. 

WHEREAS, the Issuer has heretofore executed and delivered one or more definitive registered notes (each a “Definitive Registered Note”),
dated as of                     , providing for the issuance of aggregate principal amount of $         in
aggregate principal amount of 5.875% Senior Notes due 2025 and/or €         in aggregate principal amount of 4.625% Senior Notes due 2025, pursuant to the terms of the Indenture dated as of
January 29, 2015 among the Issuer and the Trustee, among others (the “Indenture”). 
 WHEREAS, each Definitive Registered Note
provides that under certain circumstances the Fold-In Issuer shall execute and deliver to the Trustee this Agreement pursuant to which the Fold-In Issuer shall accede to such Definitive Registered Note, as Fold-In Issuer, and assume all of the
obligations of Issuer under each such Definitive Registered Note and the Indenture. 
 WHEREAS, each Definitive Registered Note provides that upon the
execution and delivery of this Agreement, the Issuer shall be released from its obligations under such Global Note and the Indenture. 
 WHEREAS, pursuant
to Clause (E) of each Definitive Registered Note, the Trustee is authorized to execute and deliver this Agreement. 
 NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Fold-In Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as
follows: 
 1. CAPITALIZED TERMS. Capitalized terms used in this Agreement and not otherwise defined in this
Agreement shall have the meanings ascribed to them in the Indenture. 
 2. AGREEMENT TO ACCEDE.
The Fold-In Issuer hereby agrees to accede, as Issuer, to the Definitive Registered Note on the terms and conditions set forth in this Agreement and the Definitive Registered Note. In particular connection with such succession, the Fold-In Issuer
agrees (a) to be bound by all of the covenants, stipulations, promises and agreements set forth in the Definitive Registered Note and (b) to perform in accordance with its terms all of the obligations which by the terms of the Definitive
Registered Note are required to be performed by the Issuer. 
 3. GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND
BE USED TO CONSTRUE THIS AGREEMENT. 
 4. COUNTERPARTS. The parties may sign any number of copies of this Agreement. Each
signed copy shall be an original, but all of them together represent the same agreement. 
 5. EFFECT OF
HEADINGS. The section headings herein are for convenience only and shall not affect the construction hereof. 

  
 B-12 

 6. THE TRUSTEE. The Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity of sufficiency of this Agreement or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer or the Fold-In Issuer. 

7. RATIFICATION OF DEFINITIVE REGISTERED NOTE AND
THE INDENTURE; ACCESSION AGREEMENT PART OF GLOBAL NOTE AND THE INDENTURE. Except as
expressly amended hereby, each Definitive Registered Note and the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Agreement shall form a part of the
Definitive Registered Note and the Indenture for all purposes. 
 8. SUCCESSORS. All covenants and agreements in this
Agreement by the parties hereto shall bind their successors. 
 (Signature page to follow) 

  
 B-13 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and attested, as of the date first
above written. 
  

			
	ZIGGO BOND FINANCE B.V.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	  

	as the Fold-Issuer
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 DEUTSCHE TRUSTEE COMPANY LIMITED
 as
Trustee

		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-14 

 EXHIBIT C 

FORM OF CERTIFICATE OF TRANSFER 
 Ziggo
Bond Finance B.V. 
 Naritaweg 165 
 Telestone 8 

1043 BW Amsterdam 
 The Netherlands 

[Deutsche Trustee Company Limited 
 Winchester House 

1 Great Winchester Street 
 London EC2N 2DB 

United Kingdom 
 Attention: Corporate Trust Administration]1 
 [Deutsche Bank Trust Company Americas 

c/o Deutsche Bank National Trust Company 
 100 Plaze One- 6th
Floor 
 MSJCY01-0699 
 Jersey City, New Jersey 07311 

Fax: +1 732 578 4635 
 Attention: Client Services Manager- Ziggo
Bond Finance B.V.]2 
 Re:
[4.625%]1[5.875%]2 Senior Notes due 2025 

Reference is hereby made to the Indenture, dated as of January 29, 2015 (the “Indenture”), among, inter alios, Ziggo Bond
Finance B.V., as issuer, and Deutsche Trustee Company Limited, as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                    , (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of [€]1[$]2         in such Note[s] or interests (the “Transfer”), to
                     (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the
Transferor hereby certifies that: 
 [CHECK ONLY ONE] 

1.   ̈  Check if Transfer Is Pursuant to Rule 144A. The
Transfer is being effected pursuant to and in accordance with Rule 144A (“Rule 144A”) under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and, accordingly, the Transferor hereby
further certifies that the Book-Entry Interest or Definitive Registered Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the Book-Entry Interest or Definitive Registered Note for its own
account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction
meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable securities laws of any jurisdiction. Upon consummation of the proposed 

 

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

 
Transfer in accordance with the terms of the Indenture, the transferred Book-Entry Interest or Definitive Registered Note will be subject to the restrictions on transfer enumerated in the Private
Placement Legend printed on the 144A Global Note and/or the 144A Definitive Registered Note and in the Indenture and the U.S. Securities Act. 

2.   ̈  Check if Transfer Is Pursuant to Regulation S.
The Transfer is being effected pursuant to and in accordance with Rule 903 and Rule 904 under the U.S. Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the
United States and (A) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United
States or (B) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in
the United States; (ii) no directed selling efforts have been made in contravention of the requirements of Rule 904(b) of Regulation S under the U.S. Securities Act; and (iii) the transaction is not part of a plan or scheme to evade the
registration requirements of the U.S. Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred Book-Entry Interest or Definitive Registered Note
will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Definitive Registered Note and in the Indenture and the U.S. Securities Act. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer and the Trustee and the Issuer
and the Trustee are irrevocably authorized to produce this certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

			
	  

	[Insert Name of Transferor]
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Dated:	 	  

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE] 

 

			
	(a)	 	 ̈  a Book-Entry Interest held through the Depositary/Euroclear/Clearstream Account
No.            , in the:
		
	(i)	 	 ̈  [Euro][Dollar] 144A Global Note ([CUSIP][ISIN]             ), or
		
	(ii)	 	 ̈  [Euro][Dollar] Regulation S Global Note ([CUSIP][ISIN]             ), or
		
	(b)	 	 ̈  a [Euro][Dollar] 144A Definitive Registered Note; or
		
	(c)	 	 ̈  a [Euro][Dollar] Regulation S Definitive Registered Note.

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 

 

			
	(a)	 	 ̈  a Book-Entry Interest through the Depositary/Euroclear/Clearstream Account
No.             in the:
		
	(i)	 	 ̈  [Euro][Dollar] 144A Global Note ([CUSIP][ISIN]             ), or
		
	(ii)	 	 ̈  [Euro][Dollar] Regulation S Global Note ([CUSIP][ISIN]             ), or
		
	(b)	 	 ̈  a [Euro][Dollar] 144A Definitive Registered Note; or
		
	(c)	 	 ̈  a [Euro][Dollar] Regulation S Definitive Registered Note,

 in accordance with the terms of the Indenture. 

 EXHIBIT D 

FORM OF CERTIFICATE OF EXCHANGE 
 Ziggo
Bond Finance B.V. 
 Naritaweg 165 
 Telestone 8 

1043 BW Amsterdam 
 The Netherlands 

[Deutsche Trustee Company Limited 
 Winchester House 

1 Great Winchester Street 
 London EC2N 2DB 

United Kingdom 
 Attention: Corporate Trust Administration]1 
 [Deutsche Bank Trust Company Americas 

c/o Deutsche Bank National Trust Company 
 100 Plaze One- 6th
Floor 
 MSJCY01-0699 
 Jersey City, New Jersey 07311 

Fax: +1 732 578 4635 
 Attention: Client Services Manager- Ziggo
Bond Finance B.V.]2 
 Re:
[4.625%]1[5.875%]2 Senior Notes due 2025 

Reference is hereby made to the Indenture, dated as of January 29, 2015 (the “Indenture”), among, inter
alios, Ziggo Bond Finance B.V., as issuer, and Deutsche Trustee Company Limited, as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                    , (the
“Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of [€]1[$]2          in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 

(a) Check if Exchange is Book-Entry Interest in a Global Note to Definitive Registered Note. In connection with the Exchange of the
Owner’s Book-Entry Interest in the Global Note for a Definitive Registered Note with an equal principal amount, the Owner hereby certifies that the Definitive Registered Note is being acquired for the
Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Definitive Registered Note issued will continue to be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Definitive Registered Note and in the Indenture and the U.S. Securities Act. 
 (b) Check
if Exchange is from Definitive Registered Note to Book-Entry Interest in a Global Note. In connection with the Exchange of the Owner’s Definitive Registered Note for a Book-Entry Interest in the [CHECK ONE],  

 ̈   [Euro]1[Dollar]2 144A Global Note 

 ̈   [Euro]1[Dollar]2 Regulation S Global Note 
  

	1 	Applicable to Euro Notes 

	2 	Applicable to Dollar Notes 

  
 D-1 

 with an equal principal amount, the Owner hereby certifies (i) the Book-Entry Interest is being acquired for
the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the U.S. Securities Act, and in compliance
with any applicable securities laws of any applicable jurisdiction. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Book-Entry Interest issued will be subject to the restrictions on transfer enumerated
in the Private Placement Legend printed on the relevant Global Note and in the Indenture and the U.S. Securities Act. 
 This certificate
and the statements contained herein are made for your benefit and the benefit of the Issuer and the Trustee and the Issuer and the Trustee are irrevocably authorized to produce this certificate or a copy hereof to any interested party in any
administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 
  

			
	  

	[Insert Name of Owner]
		
	By:	 	  

		
	Name:	 	
		
	Title:	 	
		
	Dated:	 	  

 EXHIBIT D 

ANNEX A TO CERTIFICATE OF EXCHANGE 
  

	1.	The Owner owns and proposes to exchange the following: 

 [CHECK ONE] 

 

			
	(a)	 	 ̈  a Book-Entry Interest held through the Depositary/Euroclear/Clearstream Account
No.            , in the:
		
	(i)	 	 ̈  [Euro][Dollar]144A Global Note ([CUSIP][ISIN]             ), or
		
	(ii)	 	 ̈  [Euro][Dollar]Regulation S Global Note ([CUSIP][ISIN]             ), or
		
	(b)	 	 ̈  a [Euro][Dollar]144A Definitive Registered Note.
		
	(c)	 	 ̈  a [Euro][Dollar]Regulation S Definitive Registered Note.

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 

 

			
	(a)	 	 ̈  a Book-Entry Interest through the Depositary/Euroclear/Clearstream Account
No.            in the:
		
	(i)	 	 ̈  [Euro][Dollar]144A Global Note ([CUSIP][ISIN]             ), or
		
	(ii)	 	 ̈  [Euro][Dollar]Regulation S Global Note ([CUSIP][ISIN]             ), or
		
	(b)	 	 ̈  a [Euro][Dollar]144A Definitive Registered Note; or
		
	(c)	 	 ̈  a [Euro][Dollar]Regulation S Definitive Registered Note,

 in accordance with the terms of the Indenture. 

  
 D-1 

 EXHIBIT E 

FORM OF SUPPLEMENTAL INDENTURE 
 TO
BE DELIVERED BY SUBSEQUENT GUARANTORS 
 SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”), dated as of                     , among
                     (the “Guaranteeing Company”), Ziggo Bond Finance B.V., as Issuer (the “Issuer”), and Deutsche
Trustee Company Limited, as Trustee under the Indenture referred to below (the “Trustee”). 
 W I T N E S S E T H 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of
January 29, 2015, providing for the issuance of an initial aggregate principal amount of €400,000,000 of 4.625% Senior Notes due 2025 (the “Euro Notes”) and $400,000,000 of 5.875% Senior Notes due 2025 (the “Dollar
Notes” and, together with the Euro Notes, the “Notes”). 
 WHEREAS, the Indenture provides that under
certain circumstances the Guaranteeing Company shall execute and deliver to the Trustee a Supplemental Indenture pursuant to which the Guaranteeing Company shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the
Indenture on the terms and conditions set forth herein (the “Guarantee”); and 
 WHEREAS, pursuant to
Section 9.05 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 NOW THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as
follows: 
 1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings
assigned to them in the Indenture. 
 2. AGREEMENT TO GUARANTEE. The Guaranteeing Company
hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in such Guarantee and in the Indenture. 

3. NO RECOURSE AGAINST OTHERS. No officer, employee, incorporator, member or
stockholder of the Guaranteeing Company, as such, shall have any liability for any obligations of the Issuer or any Guaranteeing Company under the Notes, any Guarantees, the Indenture, any Intercreditor Agreement, the Note Security Documents or this
Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes. 
 5. NEW YORK LAW TO
GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE. 
 6.
COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

  
 E-1 

 EXHIBIT E 
  

 7. EFFECT OF HEADINGS. The Section headings
herein are for convenience only and shall not affect the construction hereof. 
 8. THE TRUSTEE. The Trustee
shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing
Company and the Issuer. 
 9. RATIFICATION OF INDENTURE; SUPPLEMENTAL
INDENTURES PART OF INDENTURE. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain
in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes. 
 10. SUCCESSORS.
All covenants and agreements in this Supplemental Indenture by the parties hereto shall bind their successors. 
 (Signature page to follow)

  
 E-2 

 EXHIBIT E 
  

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

			
	[GUARANTEEING COMPANY]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[ISSUER]
	as Issuer
		
	By:	 	  

		 	Name:
		 	Title:
	
	 DEUTSCHE BANK TRUSTEE COMPANY LIMITED

as Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 E-3 

 EXHIBIT F 

FORM OF ACCESSION AGREEMENT 
 This
ACCESSION AGREEMENT (this “Agreement”), dated as of                     , is made by Ziggo Bond Finance B.V. a private limited company
incorporated under the laws of the Netherlands, having its registered office at Naritaweg 165, Telestone 8, 1043 BW, Amsterdam, The Netherlands, registered with the Dutch Commercial Register under number 61995460 (the “Issuer”),
             (the “Fold-In Issuer”) and Deutsche Trustee Company Limited, as the Trustee (“Trustee”), under the Indenture referred to below. 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of January 29, 2015,
providing for the issuance of an aggregate principal amount of $         in aggregate principal amount of 5.875% Senior Notes due 2025 and €         in aggregate
principal amount of 4.625% Senior Notes due 2025 (the “Notes”). 
 WHEREAS, the Indenture provides that under certain circumstances the
Fold-Issuer shall execute and deliver to the Trustee this Agreement pursuant to which the Fold-Issuer shall accede to the Indenture, as issuer, and assume all of the obligations of the Issuer under the Indenture and the Notes. 

WHEREAS, the Indenture provides that upon the execution and delivery of this Agreement, the Issuer shall be released from its obligations under the Indenture
and the Notes. 
 WHEREAS, pursuant to Section 4.27 of the Indenture, the Trustee is authorized to execute and deliver this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Fold-Issuer
and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 
 1.
CAPITALIZED TERMS. Capitalized terms used in this Agreement and not otherwise defined in this Agreement shall have the meanings ascribed to them in the Indenture. 

2. AGREEMENT TO ACCEDE. The Fold-Issuer hereby agrees to accede to the Indenture, as issuer, on
the terms and conditions set forth in this Agreement and the Indenture. In particular connection with such succession, the Fold-Issuer agrees (a) to be bound by all of the covenants, stipulations, promises and agreements set forth in the
Indenture and (b) to perform in accordance with its terms all of the obligations which by the terms of the Indenture are required to be performed by the Issuer. 

3. NOTICES. The notice provisions for the “Issuer” in Section 14.01 of the Indenture are hereby amended to the following to
reflect the Fold-In Issuer’s details: 
 [insert notice details] 

4. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW
YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS AGREEMENT. 
 5. COUNTERPARTS. The parties may sign any number of copies of
this Agreement. Each signed copy shall be an original, but all of them together represent the same agreement. 
 6. EFFECT
OF HEADINGS. The section headings herein are for convenience only and shall not affect the construction hereof. 

7. THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity
of sufficiency of this Agreement or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer and the Fold-Issuer. 

  
 F-1 

 EXHIBIT F 
  

 8. RATIFICATION OF GLOBAL NOTES
AND THE INDENTURE; ACCESSION AGREEMENT PART OF GLOBAL NOTE AND THE
INDENTURE. Except as expressly amended hereby, each Global Note and the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Agreement
shall form a part of the Global Notes and the Indenture for all purposes. 
 9. SUCCESSORS. All covenants and agreements in
this Agreement by the parties hereto shall bind their successors. 
 (Signature page to follow) 

  
 F-2 

 EXHIBIT F 
  

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and attested, as of the date
first above written. 
  

			
	ZIGGO BOND FINANCE B.V.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	  

	as the Fold-Issuer
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 DEUTSCHE TRUSTEE COMPANY LIMITED
 as
Trustee

		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 F-3 

 EXHIBIT G 

FORM OF SOLVENCY CERTIFICATE 

This solvency certificate (this “Certificate”) is delivered by [insert name of relevant Grantor] (the “Company”) in
connection with the Indenture dated as of January 29, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Indenture”) (undefined capitalized terms used herein shall have the meanings set forth in the
Indenture) among, inter alios, Ziggo Bond Finance B.V., as issuer and Deutsche Trustee Company Limited, as trustee. I hereby certify as follows in my capacity as [Responsible Financial or Accounting Officer] of the Company, and not
individually: 
 1. I am, and at all pertinent times mentioned herein, have been the duly qualified and acting [Responsible Financial or
Accounting Officer] of the Company. 
 2. In connection with the preparation of this Certificate, I have made such investigations and
inquiries as I deem necessary and reasonably prudent therefor and to accurately make the certifications expressed herein. 
 Based on the
foregoing, on behalf of the Company, I have reached the following conclusions: 
 (A) As of the date hereof, after giving effect to
[describe the Permitted Collateral Lien or release/retaking of security contemplated by Section 4.17 of the Indenture] (the “Transactions”): 
  

	 	(i)	the fair value of the assets of the Company and its subsidiaries on a consolidated basis is in excess of the total amount of its debts (including, without limitation, contingent liabilities, computed as the amount that,
in light of all the facts and circumstances now existing, represents the amount that can reasonably be expected to become an actual or matured liability); 

  

	 	(ii)	the present fair salable value of the assets of the Company and its subsidiaries on a consolidated basis is greater than its probable total liability on its existing debts as such debts become absolute and matured; and

  

	 	(iii)	the Company has capital that is not unreasonably small for its business and is sufficient to carry on its business as conducted and as proposed to be conducted. 

 

	 	(B)	The Company is not subject to insolvency proceedings, voluntary or judicial liquidation, composition with creditors, reprieve from payment or general settlement with creditors. 

 

	 	(C)	The Company is not, on the date hereof and will, as a result of the Transaction, not be in a state of cessation of payments. 

  

	 	(D)	No application has been made by the Company or, as far as the Company is aware, by any other person for the appointment of an insolvency administrator pursuant to any insolvency proceedings. 

 

	 	(E)	No application has been made by the Company for a voluntary winding-up or liquidation nor has any judicial winding-up or liquidation been commenced or initiated against the Company. 

 

	 	(F)	The Company does not intend, in incurring (by way of assumption or otherwise) any obligations or liabilities (contingent or otherwise) relating to the Transaction, to disturb, delay, hinder or defraud either present or
future creditors to which the Company, the Issuer or any of their Subsidiaries is on the date hereon, indebted. 

  
 G-1 

 EXHIBIT G 
  

 “Fair salable value” means the amount that could be obtained for assets within a
reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an interested buyer who is willing (but under no compulsion) to purchase. 

**** 

  
 G-2 

 EXHIBIT G 
  

 IN WITNESS WHEREOF, I have executed this Certificate on behalf of the Company in my capacity
as [Responsible Financial or Accounting Officer] of the Company (but not individually) as of [—] and have no personal liability hereunder. 

 

			
	[                                    
    ]
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  
 G-3 

 EXHIBIT H 

FOLD-IN COVENANT SCHEDULE 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	
	ARTICLE 1.	 
	 DEFINITIONS AND INCORPORATION

BY REFERENCE
	   
   

			
	 Section 1.01
	 	 Definitions
	  	 	1	  
	 Section 1.02
	 	 Other Definitions
	  	 	46	  
	 Section 1.03
	 	 Rules of Construction
	  	 	47	  
	
	ARTICLE 2.	  
	THE NOTES	  
			
	 Section 2.01
	 	 Form and Dating
	  	 	47	  
	 Section 2.02
	 	 Execution and Authentication
	  	 	48	  
	 Section 2.03
	 	 Registrar and Paying Agent
	  	 	50	  
	 Section 2.04
	 	 Holders to Be Treated as Owners; Payments of Interest
	  	 	51	  
	 Section 2.05
	 	 Paying Agent to Hold Money
	  	 	51	  
	 Section 2.06
	 	 Holder Lists
	  	 	52	  
	 Section 2.07
	 	 Transfer and Exchange
	  	 	52	  
	 Section 2.08
	 	 Replacement Notes
	  	 	61	  
	 Section 2.09
	 	 Outstanding Notes
	  	 	61	  
	 Section 2.10
	 	 Treasury Notes
	  	 	62	  
	 Section 2.11
	 	 Temporary Notes
	  	 	62	  
	 Section 2.12
	 	 Cancellation
	  	 	62	  
	 Section 2.13
	 	 Defaulted Interest
	  	 	62	  
	 Section 2.14
	 	 CUSIP, ISIN or Common Code Number
	  	 	62	  
	 Section 2.15
	 	 Deposit of Moneys
	  	 	63	  
	 Section 2.16
	 	 Actions of Agents
	  	 	63	  
	
	ARTICLE 3.	  
	REDEMPTION AND PREPAYMENT	  
			
	 Section 3.01
	 	 Notices to Trustee
	  	 	63	  
	 Section 3.02
	 	 Selection of Notes to Be Redeemed or Purchased; Notices
	  	 	64	  
	 Section 3.03
	 	 Notice of Redemption
	  	 	64	  
	 Section 3.04
	 	 Effect of Notice of Redemption
	  	 	65	  
	 Section 3.05
	 	 Deposit of Redemption or Purchase Price
	  	 	65	  
	 Section 3.06
	 	 Notes Redeemed or Repurchased in Part
	  	 	65	  
	 Section 3.07
	 	 Optional Redemption
	  	 	65	  
	 Section 3.08
	 	 Special Mandatory Redemption
	  	 	67	  
	 Section 3.09
	 	 Mandatory Redemption
	  	 	68	  
	 Section 3.10
	 	 Redemption for Taxation Reasons
	  	 	68	  
	 Section 3.11
	 	 Offer to Purchase by Application of Excess Proceeds
	  	 	69	  
	
	ARTICLE 4.	  
	COVENANTS	  
			
	 Section 4.01
	 	 Payment of Notes
	  	 	72	  
	 Section 4.02
	 	 Maintenance of Office or Agency
	  	 	72	  
	 Section 4.03
	 	 Reports
	  	 	73	  
	 Section 4.04
	 	 Compliance Certificate
	  	 	75	  
	 Section 4.05
	 	 Taxes
	  	 	75	  
	 Section 4.06
	 	 Stay, Extension and Usury Laws
	  	 	75	  
	 Section 4.07
	 	 Limitation on Restricted Payments
	  	 	75	  
	 Section 4.08
	 	 Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	 	83	  

  
 i 

							
	 Section 4.09
	 	 Limitation on Indebtedness
	  	 	85	  
	 Section 4.10
	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	 	91	  
	 Section 4.11
	 	 Limitation on Affiliate Transactions
	  	 	93	  
	 Section 4.12
	 	 Limitation on Liens
	  	 	96	  
	 Section 4.13
	 	 Corporate Existence
	  	 	97	  
	 Section 4.14
	 	 Change of Control
	  	 	97	  
	 Section 4.15
	 	 Limitation on Issuances of Guarantees of Indebtedness by Restricted Subsidiaries
	  	 	99	  
	 Section 4.16
	 	 Payments for Consents
	  	 	100	  
	 Section 4.17
	 	 Impairment of Liens
	  	 	100	  
	 Section 4.18
	 	 Additional Amounts
	  	 	102	  
	 Section 4.19
	 	 Suspension of Covenants on Achievement of Investment Grade Status
	  	 	105	  
	 Section 4.20
	 	 Further Instruments and Acts
	  	 	105	  
	 Section 4.21
	 	 Listing
	  	 	105	  
	 Section 4.22
	 	 Collateral Sharing Agreement; Additional Collateral Sharing Agreements
	  	 	105	  
	 Section 4.23
	 	 Priority Agreement; Additional Priority Agreements
	  	 	107	  
	 Section 4.24
	 	 Additional Proceeds Loan Guarantees
	  	 	108	  
	 Section 4.25
	 	 Limitation on Layering
	  	 	108	  
	 Section 4.26
	 	 Limitation on Issuer Activities
	  	 	109	  
	 Section 4.27
	 	 Assumption of Note Obligations by the Fold-In Issuer following the Ziggo Group Combination
	  	 	110	  
	
	ARTICLE 5.	  
	SUCCESSORS	  
			
	 Section 5.01
	 	 Merger and Consolidation
	  	 	111	  
	 Section 5.02
	 	 Successor Corporation Substituted
	  	 	113	  
	
	ARTICLE 6.	  
	DEFAULTS AND REMEDIES	  
			
	 Section 6.01
	 	 Events of Default
	  	 	113	  
	 Section 6.02
	 	 Acceleration
	  	 	116	  
	 Section 6.03
	 	 Other Remedies
	  	 	117	  
	 Section 6.04
	 	 Waiver of Past Defaults
	  	 	117	  
	 Section 6.05
	 	 Control by Majority
	  	 	117	  
	 Section 6.06
	 	 Limitation on Suits
	  	 	118	  
	 Section 6.07
	 	 Rights of Holders to Receive Payment
	  	 	118	  
	 Section 6.08
	 	 Collection Suit by Trustee
	  	 	118	  
	 Section 6.09
	 	 Trustee May File Proofs of Claim
	  	 	118	  
	 Section 6.10
	 	 Priorities
	  	 	119	  
	 Section 6.11
	 	 Undertaking for Costs
	  	 	119	  
	 Section 6.12
	 	 Restoration of Rights and Remedies
	  	 	119	  
	 Section 6.13
	 	 Rights and Remedies Cumulative
	  	 	119	  
	
	ARTICLE 7.	  
	TRUSTEE	  
			
	 Section 7.01
	 	 Duties of Trustee
	  	 	120	  
	 Section 7.02
	 	 Rights of Trustee
	  	 	121	  
	 Section 7.03
	 	 Individual Rights of Trustee
	  	 	124	  
	 Section 7.04
	 	 Trustee’s Disclaimer
	  	 	124	  
	 Section 7.05
	 	 Notice of Defaults
	  	 	124	  
	 Section 7.06
	 	 [Reserved]
	  	 	124	  
	 Section 7.07
	 	 Compensation and Indemnity
	  	 	124	  
	 Section 7.08
	 	 Replacement of Trustee
	  	 	125	  
	 Section 7.09
	 	 Successor Trustee by Merger, etc.
	  	 	126	  
	 Section 7.10
	 	 Agents; Resignation of Agents
	  	 	126	  
	 Section 7.11
	 	 Eligibility; Disqualification
	  	 	127	  

  
 ii 

							
	
	ARTICLE 8.	  
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 Section 8.01
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	127	  
	 Section 8.02
	 	 Legal Defeasance and Discharge
	  	 	127	  
	 Section 8.03
	 	 Covenant Defeasance
	  	 	127	  
	 Section 8.04
	 	 Conditions to Legal or Covenant Defeasance
	  	 	128	  
	 Section 8.05
	 	 Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions
	  	 	129	  
	 Section 8.06
	 	 Repayment to Issuer
	  	 	130	  
	 Section 8.07
	 	 Reinstatement
	  	 	130	  
	
	ARTICLE 9.	  
	AMENDMENT, SUPPLEMENT AND WAIVER	  
			
	 Section 9.01
	 	 Without Consent of Holders
	  	 	130	  
	 Section 9.02
	 	 With Consent of Holders
	  	 	132	  
	 Section 9.03
	 	 Specified Consents and Amendments
	  	 	134	  
	 Section 9.04
	 	 Revocation and Effect of Consents
	  	 	134	  
	 Section 9.05
	 	 Notation on or Exchange of Notes
	  	 	135	  
	 Section 9.06
	 	 Trustee to Sign Amendments, etc.
	  	 	135	  
	
	ARTICLE 10.	  
	GUARANTEES	  
			
	 Section 10.01
	 	 Releases
	  	 	135	  
	 Section 10.02
	 	 Affiliate Proceeds Loan Obligor and Affiliate Subsidiaries
	  	 	136	  
	
	ARTICLE 11.	  
	SECURITY	  
			
	 Section 11.01
	 	 Note Security Documents
	  	 	136	  
	 Section 11.02
	 	 Release of Note Collateral
	  	 	137	  
	 Section 11.03
	 	 Release of Proceeds Loan Collateral
	  	 	138	  
	 Section 11.04
	 	 Authorization of Actions to Be Taken by the Security Trustee
	  	 	139	  
	 Section 11.05
	 	 Authorization of Receipt of Funds by the Security Trustee Under the Note Security Documents
	  	 	139	  
	 Section 11.06
	 	 Waiver of subrogation
	  	 	139	  
	 Section 11.07
	 	 Termination of Security Interest
	  	 	139	  
	
	ARTICLE 12.	  
	SATISFACTION AND DISCHARGE	  
			
	 Section 12.01
	 	 Satisfaction and Discharge
	  	 	140	  
	 Section 12.02
	 	 Application of Trust Money
	  	 	141	  
	
	ARTICLE 13.	  
	LIMITED RECOURSE OBLIGATIONS	  
			
	 Section 13.01
	 	 Limited Recourse Obligations
	  	 	141	  
	
	ARTICLE 14.	 
	MISCELLANEOUS	  
			
	 Section 14.01
	 	 Notices
	  	 	142	  
	 Section 14.02
	 	 Communication by Holders with Other Holders
	  	 	143	  
	 Section 14.03
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	143	  
	 Section 14.04
	 	 Statements Required in Certificate or Opinion
	  	 	143	  
	 Section 14.05
	 	 Rules by Trustee and Agents
	  	 	144	  
	 Section 14.06
	 	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	144	  

  
 iii 

							
	 Section 14.07
	 	 Currency Indemnity
	  	 	144	  
	 Section 14.08
	 	 Governing Law
	  	 	144	  
	 Section 14.09
	 	 Submission to Jurisdiction; Appointment of Agent for Service
	  	 	145	  
	 Section 14.10
	 	 No Adverse Interpretation of Other Agreements
	  	 	145	  
	 Section 14.11
	 	 Successors
	  	 	145	  
	 Section 14.12
	 	 Severability
	  	 	145	  
	 Section 14.13
	 	 Counterpart Originals
	  	 	145	  
	 Section 14.14
	 	 Table of Contents, Headings, etc.
	  	 	146	  
	 Section 14.15
	 	 Prescription
	  	 	146	  
	 Section 14.16
	 	 USA PATRIOT Act
	  	 	146	  
	
	ARTICLE 1.	  
	 DEFINITIONS AND INCORPORATION

BY REFERENCE
	   
   

			
	 Section 1.01
	 	 Definitions
	  	 	1	  
	 Section 1.02
	 	 Other Definitions
	  	 	43	  
	 Section 1.03
	 	 Rules of Construction
	  	 	44	  
	
	ARTICLE 2.	  
	THE NOTES	  
			
	 Section 2.01
	 	 Form and Dating
	  	 	44	  
	 Section 2.02
	 	 Execution and Authentication
	  	 	45	  
	 Section 2.03
	 	 Registrar and Paying Agent
	  	 	47	  
	 Section 2.04
	 	 Holders to Be Treated as Owners; Payments of Interest
	  	 	48	  
	 Section 2.05
	 	 Paying Agent to Hold Money
	  	 	49	  
	 Section 2.06
	 	 Holder Lists
	  	 	49	  
	 Section 2.07
	 	 Transfer and Exchange
	  	 	49	  
	 Section 2.08
	 	 Replacement Notes
	  	 	58	  
	 Section 2.09
	 	 Outstanding Notes
	  	 	59	  
	 Section 2.10
	 	 Treasury Notes
	  	 	59	  
	 Section 2.11
	 	 Temporary Notes
	  	 	59	  
	 Section 2.12
	 	 Cancellation
	  	 	59	  
	 Section 2.13
	 	 Defaulted Interest
	  	 	60	  
	 Section 2.14
	 	 CUSIP, ISIN or Common Code Number
	  	 	60	  
	 Section 2.15
	 	 Deposit of Moneys
	  	 	60	  
	 Section 2.16
	 	 Actions of Agents
	  	 	61	  
	
	ARTICLE 3.	  
	REDEMPTION AND PREPAYMENT	  
			
	 Section 3.01
	 	 Notices to Trustee
	  	 	61	  
	 Section 3.02
	 	 Selection of Notes to Be Redeemed or Purchased; Notices
	  	 	61	  
	 Section 3.03
	 	 Notice of Redemption
	  	 	62	  
	 Section 3.04
	 	 Effect of Notice of Redemption
	  	 	62	  
	 Section 3.05
	 	 Deposit of Redemption or Purchase Price
	  	 	63	  
	 Section 3.06
	 	 Notes Redeemed or Repurchased in Part
	  	 	63	  
	 Section 3.07
	 	 Optional Redemption
	  	 	63	  
	 Section 3.08
	 	 [Reserved]
	  	 	65	  
	 Section 3.09
	 	 Mandatory Redemption
	  	 	65	  
	 Section 3.10
	 	 Redemption for Taxation Reasons
	  	 	65	  
	 Section 3.11
	 	 Offer to Purchase by Application of Excess Proceeds
	  	 	66	  
	
	ARTICLE 4.	  
	COVENANTS	  
			
	 Section 4.01
	 	 Payment of Notes
	  	 	69	  
	 Section 4.02
	 	 Maintenance of Office or Agency
	  	 	70	  

  
 iv 

							
	 Section 4.03
	 	 Reports
	  	 	70	  
	 Section 4.04
	 	 Compliance Certificate
	  	 	71	  
	 Section 4.05
	 	 Taxes
	  	 	72	  
	 Section 4.06
	 	 Stay, Extension and Usury Laws
	  	 	72	  
	 Section 4.07
	 	 Limitation on Restricted Payments
	  	 	72	  
	 Section 4.08
	 	 Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	 	79	  
	 Section 4.09
	 	 Limitation on Indebtedness
	  	 	81	  
	 Section 4.10
	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	 	87	  
	 Section 4.11
	 	 Limitation on Affiliate Transactions
	  	 	89	  
	 Section 4.12
	 	 Limitation on Liens
	  	 	92	  
	 Section 4.13
	 	 Corporate Existence
	  	 	92	  
	 Section 4.14
	 	 Change of Control
	  	 	93	  
	 Section 4.15
	 	 Limitation on Issuances of Guarantees of Indebtedness by Restricted Subsidiaries
	  	 	95	  
	 Section 4.16
	 	 Payments for Consents
	  	 	96	  
	 Section 4.17
	 	 Impairment of Liens
	  	 	96	  
	 Section 4.18
	 	 Additional Amounts
	  	 	97	  
	 Section 4.19
	 	 Suspension of Covenants on Achievement of Investment Grade Status
	  	 	99	  
	 Section 4.20
	 	 Further Instruments and Acts
	  	 	100	  
	 Section 4.21
	 	 Listing
	  	 	100	  
	 Section 4.22
	 	 Priority Agreement; Additional Priority Agreements
	  	 	100	  
	 Section 4.23
	 	 [Reserved]
	  	 	102	  
	 Section 4.24
	 	 Future Note Guarantees
	  	 	102	  
	 Section 4.25
	 	 Limitation on Layering
	  	 	102	  
	
	ARTICLE 5.	  
	SUCCESSORS	  
			
	 Section 5.01
	 	 Merger and Consolidation
	  	 	102	  
	 Section 5.02
	 	 Successor Corporation Substituted
	  	 	104	  
	
	ARTICLE 6.	  
	DEFAULTS AND REMEDIES	  
			
	 Section 6.01
	 	 Events of Default
	  	 	104	  
	 Section 6.02
	 	 Acceleration
	  	 	106	  
	 Section 6.03
	 	 Other Remedies
	  	 	107	  
	 Section 6.04
	 	 Waiver of Past Defaults
	  	 	107	  
	 Section 6.05
	 	 Control by Majority
	  	 	108	  
	 Section 6.06
	 	 Limitation on Suits
	  	 	108	  
	 Section 6.07
	 	 Rights of Holders of Notes to Receive Payment
	  	 	108	  
	 Section 6.08
	 	 Collection Suit by Trustee
	  	 	108	  
	 Section 6.09
	 	 Trustee May File Proofs of Claim
	  	 	108	  
	 Section 6.10
	 	 Priorities
	  	 	109	  
	 Section 6.11
	 	 Undertaking for Costs
	  	 	109	  
	 Section 6.12
	 	 Restoration of Rights and Remedies
	  	 	110	  
	 Section 6.13
	 	 Rights and Remedies Cumulative
	  	 	110	  
	
	ARTICLE 7.	  
	TRUSTEE	  
			
	 Section 7.01
	 	 Duties of Trustee
	  	 	110	  
	 Section 7.02
	 	 Rights of Trustee
	  	 	111	  
	 Section 7.03
	 	 Individual Rights of Trustee
	  	 	114	  
	 Section 7.04
	 	 Trustee’s Disclaimer
	  	 	114	  
	 Section 7.05
	 	 Notice of Defaults
	  	 	114	  
	 Section 7.06
	 	 [Reserved]
	  	 	115	  
	 Section 7.07
	 	 Compensation and Indemnity
	  	 	115	  

  
 v 

							
	 Section 7.08
	 	 Replacement of Trustee
	  	 	116	  
	 Section 7.09
	 	 Successor Trustee by Merger, etc.
	  	 	117	  
	 Section 7.10
	 	 Agents; Resignation of Agents
	  	 	117	  
	 Section 7.11
	 	 Eligibility; Disqualification
	  	 	117	  
	
	ARTICLE 8.	  
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 Section 8.01
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	117	  
	 Section 8.02
	 	 Legal Defeasance and Discharge
	  	 	117	  
	 Section 8.03
	 	 Covenant Defeasance
	  	 	118	  
	 Section 8.04
	 	 Conditions to Legal or Covenant Defeasance
	  	 	118	  
	 Section 8.05
	 	 Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions
	  	 	120	  
	 Section 8.06
	 	 Repayment to Issuer
	  	 	120	  
	 Section 8.07
	 	 Reinstatement
	  	 	120	  
	
	ARTICLE 9.	  
	AMENDMENT, SUPPLEMENT AND WAIVER	  
			
	 Section 9.01
	 	 Without Consent of Holders of Notes
	  	 	121	  
	 Section 9.02
	 	 With Consent of Holders of Notes
	  	 	122	  
	 Section 9.03
	 	 Revocation and Effect of Consents
	  	 	124	  
	 Section 9.04
	 	 Notation on or Exchange of Notes
	  	 	125	  
	 Section 9.05
	 	 Trustee to Sign Amendments, etc.
	  	 	125	  
	
	ARTICLE 10.	  
	GUARANTEES	  
			
	 Section 10.01
	 	 Releases
	  	 	125	  
	 Section 10.02
	 	 Affiliate Issuer and Affiliate Subsidiaries
	  	 	126	  
	
	ARTICLE 11.	  
	SECURITY	  
	 Section 11.01
	 	 Notes Collateral Documents
	  	 	126	  
	 Section 11.02
	 	 Release of Notes Collateral
	  	 	127	  
	 Section 11.03
	 	 Authorization of Actions to Be Taken by the Security Agent
	  	 	128	  
	 Section 11.04
	 	 Authorization of Receipt of Funds by the Security Agent Under the Notes Collateral Documents
	  	 	128	  
	 Section 11.05
	 	 Waiver of subrogation
	  	 	129	  
	 Section 11.06
	 	 Termination of Security Interest
	  	 	129	  
	
	ARTICLE 12.	  
	SATISFACTION AND DISCHARGE	  
			
	 Section 12.01
	 	 Satisfaction and Discharge
	  	 	129	  
	 Section 12.02
	 	 Application of Trust Money
	  	 	130	  

  
 vi 

 EXHIBIT H 

ARTICLE 1. 

DEFINITIONS AND INCORPORATION 

BY REFERENCE 
 Section 1.01
Definitions 
 “144A Global Note” means a Dollar 144A Global Note or a Euro 144A Global Note. 

“Acquisition” means the acquisition by LGE Holdco VII B.V. of shares in Ziggo N.V. following a recommended public offer
pursuant to a merger protocol agreement dated January 27, 2014. 
 “Acquired Indebtedness” means Indebtedness
(i) of a Person or any of its Subsidiaries existing at the time such Person becomes a Restricted Subsidiary or (ii) assumed in connection with the acquisition of assets from such Person, in each case whether or not Incurred by such Person
in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary or such acquisition. Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (i) of the preceding sentence, on
the date such Person becomes a Restricted Subsidiary and, with respect to clause (ii) of the preceding sentence, on the date of consummation of such acquisition of assets. 

“Additional Assets” means: 
  

	 	(1)	any property or assets (other than Indebtedness and Capital Stock) to be used by the Issuer, the Affiliate Issuer or a Restricted Subsidiary in a Related Business or are otherwise useful in a Related Business (it being
understood that capital expenditure on property or assets already used in a Related Business or to replace any property or assets that are the subject of such Asset Disposition or any operating expenses Incurred in the day-to-day operations of a
Related Business shall be deemed an Investment in Additional Assets); 

  

	 	(2)	the Capital Stock of a Person that is engaged in a Related Business and becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Issuer, the Affiliate Issuer or a Restricted
Subsidiary; or 

  

	 	(3)	Capital Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary. 

“Additional Notes” means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with
Sections 2.01(e), 2.02 and 4.09, as part of the same series as the Initial Notes. 
 “Affiliate” of any
specified Person means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to
any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled”
have meanings correlative to the foregoing. 
 “Affiliate Subsidiary” refers to any Subsidiary of Liberty Global
(other than a Subsidiary of the Issuer or the Affiliate Issuer) that provides a Note Guarantee following the Issue Date. 

“Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent.

  
 1 

 EXHIBIT H 
  

 “Applicable Premium” means, in the case of the Euro Notes, the Euro
Applicable Premium and, in the case of the Dollar Notes, the Dollar Applicable Premium. For the avoidance of doubt, calculation of the Applicable Premium shall be made by the Issuer and shall not be a duty or obligation of the Trustee, Security
Trustee or any Registrar, Paying Agent or Transfer Agent. 
 “Applicable Procedures” means, with respect to
any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear or Clearstream that apply to such transfer or exchange. 

“Asset Disposition” means any direct or indirect sale, lease (other than an operating lease entered into in the ordinary
course of business), transfer, issuance or other disposition, or a series of related sales, leases, (other than an operating lease entered into in the ordinary course of business), transfers, issuances or dispositions that are part of a common plan,
of shares of Capital Stock of a Subsidiary (other than directors’ qualifying shares), property or other assets (each referred to for the purposes of this definition as a “disposition”) by the Issuer, the Affiliate Issuer or any of the
Restricted Subsidiaries, including any disposition by means of a merger, consolidation or similar transaction. 
 Notwithstanding the
preceding, the following items shall not be deemed to be Asset Dispositions: 
  

	 	(1)	a disposition by a Restricted Subsidiary to the Issuer or the Affiliate Issuer or by the Issuer, the Affiliate Issuer or a Restricted Subsidiary (other than a Receivables Entity) to a Restricted Subsidiary;

  

	 	(2)	the sale or disposition of cash, Cash Equivalents or Investment Grade Securities in the ordinary course of business; 

  

	 	(3)	a disposition of inventory, consumer equipment, trading stock, communications capacity or other assets in the ordinary course of business; 

 

	 	(4)	a sale, lease, transfer or other disposition, or a series of related sales, leases, transfers, issuances or dispositions that are part of a common plan, of obsolete, surplus or worn out equipment or other equipment and
assets that are no longer useful in the conduct of the business of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries; 

  

	 	(5)	transactions permitted under Section 5.01 or a transaction that constitutes a Change of Control; 

  

	 	(6)	an issuance of Capital Stock by a Restricted Subsidiary to the Issuer or the Affiliate Issuer or to another Restricted Subsidiary; 

  

	 	(7)	(a) for purposes of Section 4.10 only, the making of a Permitted Investment or a disposition subject to Section 4.07 and (b) solely for the purpose of Section 4.10(a)(3), a disposition, the proceeds
of which are used to make Restricted Payments permitted to be made under Section 4.07 or Permitted Investments; 

  

	 	(8)	dispositions of assets in a single transaction or series of related transactions with an aggregate fair market value in any calendar year of less than the greater of €10.0 million and 1.0% of Total Assets
(with unused amounts in any calendar year being carried over to the next succeeding year subject to a maximum of the greater of €10.0 million and 1.0% of Total Assets of carried over amounts for any calendar year); 

  
 2 

 EXHIBIT H 
  

	 	(9)	dispositions in connection with Permitted Liens; 

  

	 	(10)	dispositions of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar
arrangements; 

  

	 	(11)	the licensing or sublicensing of intellectual property or other general intangibles and licenses, sublicenses, leases or subleases of other property; 

 

	 	(12)	foreclosure, condemnation or similar action with respect to any property or other assets; 

  

	 	(13)	the sale or discount (with or without recourse, and on customary or commercially reasonable terms) of accounts receivable or notes receivable arising in the ordinary course of business, or the conversion or exchange of
accounts receivable for notes receivable; 

  

	 	(14)	sales of accounts receivable and related assets or an interest therein of the type specified in the definition of “Qualified Receivables Transaction” to a Receivables Entity; 

 

	 	(15)	any disposition of Capital Stock, Indebtedness or other securities of an Unrestricted Subsidiary; 

  

	 	(16)	any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a Person (other than the Issuer, the Affiliate Issuer or a Restricted Subsidiary) from whom such
Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such acquisition and in each case comprising all or a portion
of the consideration in respect of such sale or acquisition; 

  

	 	(17)	any surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; 

  

	 	(18)	(a) disposals of assets, rights or revenue not constituting part of the Distribution Business of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries, and (b) other disposals of non-core assets acquired
in connection with any acquisition permitted under this Indenture; 

  

	 	(19)	any disposition of assets or Capital Stock which the Issuer, the Affiliate Issuer or a Restricted Subsidiary is required by a regulatory authority or court of competent jurisdiction to dispose of; 

 

	 	(20)	any dispositions of other interests in other entities in an amount not to exceed €10.0 million; 

  

	 	(21)	any disposition of real property; provided that the fair market value of the real property disposed of in any calendar year does not exceed the greater of €50.0 million and 1.0% of Total Assets;

  
 3 

 EXHIBIT H 
  

	 	(22)	any disposition of assets to a Person who is providing services related to such assets, the provision of which have been or are to be outsourced by the Issuer, the Affiliate Issuer or any Restricted Subsidiary to such
Person; and 

  

	 	(23)	any other disposition of assets comprising in aggregate percentage value of 10% or less of Total Assets. 

In the event that a transaction (or any portion thereof) meets the criteria of a disposition permitted under clauses (1) through
(23) above and would also be a Restricted Payment permitted to be made under Section 4.07 or a Permitted Investment, the Issuer, in its sole discretion, will be entitled to divide and classify such transaction (or a portion thereof) as a
disposition permitted under clauses (1) through (23) above and/or one or more of the types of Restricted Payments permitted to be made under Section 4.07 or Permitted Investments. 

“Authenticating Agent” means each Person authorized pursuant to Section 2.02 to authenticate Notes and any Person
authorized pursuant to Section 2.02 to act on behalf of the Trustee to authenticate Notes. 
 “Authorized
Person” means any person who is designated by the Issuer to give Instructions to the Trustee or the Agents under the terms of this Indenture pursuant to one or more incumbency certificates (which may be amended or updated from time to time)
delivered to the Trustee containing the specimen signature of such person provided that no Authorized Person shall be entitled to give instructions directly to Deutsche Bank Trustee Company Americas, which shall only receive instructions via the
Trustee or Euro Paying Agent, as applicable.  
 “Bankruptcy Law” means Title 11, United States Bankruptcy
Code of 1978, or any similar United States federal or state law or relevant law in any jurisdiction or organization or similar foreign law (including, without limitation, laws of The Netherlands relating to moratorium, bankruptcy, insolvency,
receivership, winding up, liquidation, reorganization or relief of debtors) or any amendment to, succession to or change in any such law. 

“beneficial owner” has the meaning assigned to such term in Rule 13d-3 and
Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such
“person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “beneficially owns” and “beneficially owned” have a corresponding meaning. 

“Board of Directors” means, as to any Person, the board of directors of such Person or any duly authorized committee thereof,
or, in the case of the Issuer, its managing director; provided that (i) if and for so long as the Issuer or the Affiliate Issuer is a Subsidiary of Liberty Global, any action required to be taken under this Indenture by the Board of Directors
of the Issuer or the Affiliate Issuer can, in the alternative, at the option of the Issuer or the Affiliate Issuer, be taken by the Board of Directors of Liberty Global and (ii) following consummation of a Spin-Off, any action required to be
taken under this Indenture by the Board of Directors of the Issuer or the Affiliate Issuer can, in the alternative, at the option of the Issuer or the Affiliate Issuer, be taken by the Board of Directors of the Spin Parent. 

“Book-Entry Interest” means a beneficial interest in a Global Note held by or through
a Participant. 

  
 4 

 EXHIBIT H 
  

 “Bund Rate” means, with respect to any Redemption Date, the rate per
annum equal to the semi-annual equivalent yield to maturity as of such date of the Comparable German Bund Issue, assuming a price for the Comparable German Bund Issue (expressed as a percentage of its principal amount) equal to the Comparable German
Bund Price for such Redemption Date, where:  
  

	 	(1)	“Comparable German Bund Issue” means the German Bundesanleihe security selected by any Reference German Bund Dealer as having a fixed maturity most nearly equal to the period from such Redemption Date
to January 15, 2020 and that would be utilized at the time of selection and in accordance with customary financial practice, in pricing new issues of euro-denominated corporate debt securities in a principal amount approximately equal to the
then outstanding principal amount of the Notes and of a maturity most nearly equal to January 15, 2020; provided, however, that, if the period from such Redemption Date to January 15, 2020 is not equal to the fixed maturity of the
German Bundesanleihe security selected by such Reference German Bund Dealer, the Bund Rate shall be determined by linear interpolation (calculated to the nearest one-twelfth of a year) from the yields of German Bundesanleihe securities
for which such yields are given, except that if the period from such Redemption Date to January 15, 2020, is less than one year, a fixed maturity of one year shall be used; 

 

	 	(2)	“Comparable German Bund Price” means, with respect to any Redemption Date, the average of all Reference German Bund Dealer Quotations for such date (which, in any event, must include at least two such
quotations), after excluding the highest and lowest such Reference German Bund Dealer Quotations, or if the Issuer obtains fewer than four such Reference German Bund Dealer Quotations, the average of all such quotations; 

 

	 	(3)	“Reference German Bund Dealer” means any dealer of German Bundesanleihe securities appointed by the Issuer in good faith; and 

 

	 	(4)	“Reference German Bund Dealer Quotations” means, with respect to each Reference German Bund Dealer and any Redemption Date, the average as determined by the Issuer in good faith of the bid and offered
prices for the Comparable German Bund Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such Reference German Bund Dealer at 3.30 p.m. Frankfurt am Main, Germany, time on a day no earlier than
the third Business Day preceding the date of the delivery of the redemption notice in respect of such Redemption Date. 

“Business Day” means each day that is not a Saturday, Sunday or other day on which banking institutions in The
Netherlands, New York, New York, or London, England are authorized or required by law to close. 
 “Capital
Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participation or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding
any debt securities convertible into such equity. 
 “Capitalized Lease Obligation” means an obligation that
is required to be classified and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP. The amount of Indebtedness represented by such obligation will be the capitalized amount of such obligation at the time
any determination thereof is to be made as determined in accordance with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated
without penalty. 

  
 5 

 EXHIBIT H 
  

 “Cash Equivalents” means: 

 

	 	(1)	securities issued or directly and fully guaranteed or insured by the United States Government or a member state of the European Union as of January 1, 2004 (each a “Qualified Country”) or any agency or
instrumentality thereof (provided that the full faith and credit of such Qualified Country is pledged in support thereof), having maturities of not more than one year from the date of acquisition; 

 

	 	(2)	marketable general obligations issued by any political subdivision of any Qualified Country or any public instrumentality thereof maturing within one year from the date of acquisition of the United States (provided that
the full faith and credit of the Qualified Country is pledged in support thereof) and, at the time of acquisition, having a credit rating of “A2” or better from either Standard & Poor’s Ratings Services or Moody’s
Investors Service, Inc.; 

  

	 	(3)	certificates of deposit, time deposits, eurodollar time deposits, bank deposits or bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any lender party to
any Credit Facility or by any bank or trust company (x) the long-term debt of which is rated at the time of acquisition thereof at least “A-” or the equivalent thereof by Standard & Poor’s Ratings Services, or
“A-” or the equivalent thereof by Moody’s Investors Service, Inc. (or if at the time neither is issuing comparable ratings, then a comparable rating of another nationally recognized rating agency); 

 

	 	(4)	repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (1), (2) and (3) entered into with any bank meeting the qualifications specified
in clause (3) above; 

  

	 	(5)	commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent thereof by Standard & Poor’s Ratings Services or “P-2” or the equivalent thereof by
Moody’s Investors Service, Inc., or carrying an equivalent rating by an internationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of investments, and in any case maturing within one year after
the date of acquisition thereof; and 

  

	 	(6)	interests in any investment company or money market fund which invests 95% or more of its assets in instruments of the type specified in clauses (1) through (5) above. 

“Change of Control” means: 
  

	 	(1)	Parent Company (a) ceases to be the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the Voting Stock
of each of the Issuer and the Affiliate Issuer and (b) ceases, by virtue of any powers conferred by the articles of association or other documents regulating the Issuer and the Affiliate Issuer to, directly or indirectly, direct or cause the
direction of management and policies of the Issuer and the Affiliate Issuer; 

  

	 	(2)	 the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions,
of all or 

  
 6 

 EXHIBIT H 
  

	 	
substantially all of the assets of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of
the Exchange Act) other than a Permitted Holder; or 

  

	 	(3)	the adoption by the stockholders of the Issuer or the Affiliate Issuer of a plan or proposal for the liquidation or dissolution of the Issuer or the Affiliate Issuer, other than a transaction complying with
Section 5.01; 

 provided, however, that a Change of Control shall not be deemed to have occurred pursuant to
clause (1) of this definition upon the consummation of the Post-Closing Reorganization or a Spin-Off.  

“Clearing System Business Day” means a day on which each of Euroclear, Clearstream and DTC are open for business.

 “Clearstream” means Clearstream Banking, S.A., or any successor thereto. 

“Code” means the United States Internal Revenue Code of 1986, as amended.  

“Commodity Agreements” means, in respect of a Person, any commodity purchase contract, commodity futures or forward contract,
commodities option contract or other similar contract (including commodities derivative agreements or arrangements), to which such Person is a party or a beneficiary. 

“Common Depositary” means Deutsche Bank AG, London Branch, as Common Depositary until a successor replaces it and thereafter
means the successor serving hereunder. 
 “Common Stock” means, with respect to any Person, any and all shares,
interests or other participations in, and other equivalents (however designated and whether voting or nonvoting) of such Person’s common stock whether or not outstanding on the Issue Date, and includes, without limitation, all series and
classes of such common stock. 
 “Consolidated EBITDA” means, for any period, operating income (loss) determined on
the basis of GAAP of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries on Consolidated basis, plus the following (to the extent deducted from operating income (loss)): 

 

	 	(1)	Consolidated depreciation expense; 

  

	 	(2)	Consolidated amortization expense; 

  

	 	(3)	stock based compensation expense; 

  

	 	(4)	at the option of the Issuer or the Affiliate Issuer, other non-cash charges reducing operating income (provided that if any such non-cash charge represents an accrual of or reserve for potential cash charges in any
future period, the cash payment in respect thereof in such future period shall reduce operating income to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period) less other non-cash items of income increasing
operating income (excluding any such non-cash item of income to the extent it represents (i) a receipt of cash payments in any future period, (ii) the reversal of an accrual or reserve for a potential cash item that reduced operating
income in any prior period and (iii) any non-cash gains with respect to cash actually received in a prior period so long as such cash did not increase operating income in such prior period); 

  
 7 

 EXHIBIT H 
  

	 	(5)	any extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense or charge, including any charges or reserves in respect of any restructuring, redundancy, relocation, refinancing, integration or
severance or other post-employment arrangements, signing, retention or completion bonuses, transaction costs, acquisition costs, disposition costs, business optimization, information technology implementation or development costs, costs related to
governmental investigations and curtailments or modifications to pension or postretirement benefits schemes, litigation or any asset impairment charges or the financial impacts of natural disasters (including fire, flood and storm and related
events); 

  

	 	(6)	at the option of the Issuer or the Affiliate Issuer, effects of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries) in such Person’s Consolidated
financial statements pursuant to GAAP (including inventory, property, equipment, software, goodwill, intangible assets, in process research and development, deferred revenue and debt line items) attributable to the application of recapitalization
accounting or acquisition accounting, as the case may be, in relation to any consummated acquisition or joint venture investment or the amortization or write-off or write-down of amounts thereof, net of taxes; 

 

	 	(7)	any net gain (or loss) realized upon the sale, held for sale or other disposition of any asset or disposed operations of the Issuer, the Affiliate Issuer or any Restricted Subsidiary which is not sold or otherwise
disposed of in the ordinary course of business (as determined in good faith by the Board of Directors or senior management of the Issuer); 

  

	 	(8)	the amount of Management Fees and other fees and related expenses paid in such period to the Permitted Holders to the extent permitted by Section 4.11; 

 

	 	(9)	any reasonable expenses, charges or other costs related to any Equity Offering, Permitted Investment, acquisition, disposition, recapitalization or the Incurrence of any Indebtedness permitted by this Indenture, in each
case, as determined in good faith by an Officer of the Issuer or the Affiliate Issuer; 

  

	 	(10)	at the option of the Issuer or the Affiliate Issuer, any adjustments to reduce the impact of the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of
accounting policies; 

  

	 	(11)	the amount of loss on sale of assets in connection with a Qualified Receivables Transaction; 

  

	 	(12)	Specified Legal Expenses; 

  

	 	(13)	at the option of the Issuer or the Affiliate Issuer, an amount equal to 100% of the up-front installation fees associated with commercial contract installations completed during the applicable reporting period, less any
portion of such fees included in Consolidated Net Income for such period, provided that the amount of such fees, to the extent amortized over the life of the underlying service contract, shall not be included in Consolidated Net Income in any future
period; and 

  
 8 

 EXHIBIT H 
  

	 	(14)	at the option of the Issuer or the Affiliate Issuer, any fees or other amounts charged or credited to the Issuer, the Affiliate Issuer or any Restricted Subsidiary related to Intra-Group Services may be excluded from
the calculation of Consolidated EBITDA to the extent such fees or other amounts (a) are not included in the externally reported operating cash flow or equivalent measure of the Reporting Entity (as defined in any earnings releases and other
publicly disseminated information relating to the Reporting Entity) or (b) are deemed to be exceptional or unusual items. 

“Consolidated Net Income” means, for any period, the net income (loss) determined on the basis of GAAP of the Issuer, the
Affiliate Issuer and the Restricted Subsidiaries on a Consolidated basis; provided, however, that there will not be included in such Consolidated Net Income: 
  

	 	(1)	subject to the limitations contained in clause (2) below, any net income (loss) of any Person (other than the Issuer or the Affiliate Issuer) if such Person is not a Restricted Subsidiary, except that (a) the
Issuer’s or the Affiliate Issuer’s equity in the net income (loss) of any such Person for such period will be included in such Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents actually distributed by such
Person during such period to the Issuer, the Affiliate Issuer or a Restricted Subsidiary as a dividend or other distribution or return on investment (subject, in the case of a dividend or other distribution or return on investment to a Restricted
Subsidiary, to the limitations contained in clause (2) below) and (b) the Issuer’s or the Affiliate Issuer’s equity in a net loss of any such Person (other than an Unrestricted Subsidiary) for such period will be included in
determining such Consolidated Net Income to the extent such loss has been funded with cash from the Issuer, the Affiliate Issuer or a Restricted Subsidiary; 

  

	 	(2)	any net income (loss) of any Restricted Subsidiary if such Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary,
directly or indirectly, to the Issuer or the Affiliate Issuer by operation of the terms of such Restricted Subsidiary’s charter or any agreement, instrument, judgment, decree, order, statute or governmental rule or regulation applicable to such
Restricted Subsidiary or its shareholders (other than (a) restrictions that have been waived or otherwise released, (b) restrictions pursuant to the Notes or this Indenture, (c) restrictions in effect on the Issue Date with respect to
a Restricted Subsidiary (including pursuant to this Indenture, the Notes, the Senior Facility Agreement, the Notes Collateral Documents or the Priority Agreement) and other restrictions with respect to any Restricted Subsidiary that, taken as a
whole, are not materially less favorable to the Holders than restrictions in effect on the Issue Date and (d) restrictions as in effect on the Issue Date specified in Section 4.08(b)(8), or restrictions specified in
Section 4.08(b)(10), except that the net income (loss) of any such Restricted Subsidiary for such period will be included in such Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents actually distributed or that could
have been distributed by such Restricted Subsidiary during such period to the Issuer, the Affiliate Issuer or another Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend to another Restricted Subsidiary, to
the limitation contained in this clause); 

  

	 	(3)	 any net gain (or loss) realized upon the sale, held for sale or other disposition of any asset or disposed operations of the Issuer, the Affiliate
Issuer or any 

  
 9 

 EXHIBIT H 
  

	 	
Restricted Subsidiary which is not sold or otherwise disposed of in the ordinary course of business (as determined in good faith by the Board of Directors or senior management of the Issuer);

  

	 	(4)	any extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense or charge, including any charges or reserves in
respect of any restructuring, redundancy, relocation, refinancing, integration or severance or other post-employment arrangements, signing, retention or completion bonuses, transaction costs, acquisition
costs, disposition costs, business optimization, information technology implementation or development costs, costs related to governmental investigations and curtailments or modifications to pension or postretirement benefits schemes, litigation or
any asset impairment charges or the financial impacts of natural disasters (including fire, flood and storm and related events); 

  

	 	(5)	the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies; 

 

	 	(6)	any stock-based compensation expense; 

  

	 	(7)	all deferred financing costs written off and premiums paid in connection with any early extinguishment of Indebtedness and any net gain (loss), including financing costs that are expensed as incurred, from any
extinguishment, modification, exchange or forgiveness of Indebtedness; 

  

	 	(8)	any unrealized gains or losses in respect of Hedging Obligations; 

  

	 	(9)	any goodwill, other intangible or tangible asset impairment charge or write-off; 

  

	 	(10)	the impact of capitalized interest on Subordinated Shareholder Loans; 

  

	 	(11)	any derivative instruments gains or losses, foreign exchange gains or losses, and gains or losses associated with fair value adjustment on financial instruments; 

 

	 	(12)	at the option of the Issuer or the Affiliate Issuer, effects of adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries) pursuant to GAAP (including inventory,
property, equipment, software, goodwill, intangible assets, in process research and development, deferred revenue and debt line items) attributable to the application of recapitalization accounting or purchase accounting, as the case may be, in
relation to any consummated acquisition or joint venture investment or the amortization or write-off or write-down of amounts thereof, net of taxes; 

 

	 	(13)	accruals and reserves that are established or adjusted within twelve months after the closing date of any acquisition that are so required to be established or adjusted as a result of such acquisition that are so
required to be established as a result of such acquisition in accordance with GAAP; and 

  

	 	(14)	 any expenses, charges or losses to the extent covered by insurance or indemnity and actually reimbursed, or, so long as the Issuer, the Affiliate
Issuer or a Restricted Subsidiary has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer or indemnifying party and only to the extent that such amount is in fact

  
 10 

 EXHIBIT H 
  

	 	
reimbursed within 365 days of the date of the insurable or indemnifiable event (net of any amount so added back in any prior period to the extent not so reimbursed within the applicable 365-day period). 

 In addition, to the extent not already included in the Consolidated Net
Income, notwithstanding anything to the contrary in the foregoing, Consolidated Net Income shall include the amount of proceeds received from business interruption insurance and reimbursements of any expenses and charges that are covered by
indemnification or other reimbursement provisions in connection with any acquisition, Investment or any sale, conveyance, transfer or other disposition of assets permitted under this Indenture. 

“Consolidated Net Leverage Ratio”, as of any date of determination, means the ratio of: 

 

	 	(1)	(a) the outstanding Indebtedness (other than (i) Subordinated Shareholder Loans, (ii) Indebtedness up to a maximum amount equal to the Revolving Facility Excluded Amount (or its equivalent in other currencies)
at the relevant time incurred under any Permitted Revolving Credit Facility, (iii) any Indebtedness which is a contingent obligation of the Issuer, the Affiliate Issuer or a Restricted Subsidiary, provided that for purposes of calculating the
Consolidated Net Leverage Ratio for purposes of Section 4.09(c)(13) and Section 4.07(c)(20), any guarantee by the Issuer, the Affiliate Issuer or a Restricted Subsidiary of Indebtedness of a Parent shall be included in determining any such
outstanding Indebtedness of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries, (iv) any Indebtedness incurred pursuant to Section 4.09(b)(17) and (v) for the purpose of calculating the Consolidated Net Leverage Ratio
for purposes of Section 4.09(a)(1)(a), outstanding Indebtedness of the Issuer and the Affiliate Issuer) of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries on a Consolidated basis, less (b) the aggregate amount of cash and
Cash Equivalents of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries on a Consolidated basis, to 

  

	 	(2)	the Pro forma EBITDA for the period of the most recent two consecutive fiscal quarters for which financial statements of the Reporting Entity have previously been furnished to Holders of the Notes pursuant to
Section 4.03, multiplied by 2.0; 

 provided, however, that the pro forma calculation of the Consolidated Net
Leverage Ratio shall not give effect to (a) any Indebtedness Incurred on the date of determination pursuant to Section 4.09(b) or (b) the discharge on the date of determination of any Indebtedness to the extent that such discharge
results from the proceeds Incurred pursuant to Section 4.09(b). 
 For the avoidance of doubt, in determining the Consolidated Net
Leverage Ratio, no cash or Cash Equivalents shall be included that are the proceeds of Indebtedness in respect of which the calculation of the Consolidated Net Leverage Ratio is to be made. 

“Consolidation” means the consolidation or combination of the accounts of each of the Restricted Subsidiaries with those of
the Issuer and the Affiliate Issuer in accordance with GAAP consistently applied; provided, however, that “Consolidation” will not include consolidation or combination of the accounts of any Unrestricted Subsidiary, but the interest
of the Issuer, the Affiliate Issuer or any Restricted Subsidiary in an Unrestricted Subsidiary will be accounted for as an investment. The term “Consolidated” has a correlative meaning. 

  
 11 

 EXHIBIT H 
  

 “Content” means any rights to broadcast, transmit, distribute or otherwise
make available for viewing, exhibition or reception (whether in analogue or digital format and whether as a channel or an internet service, a teletext- type service, an interactive service, or an enhanced television service or any part of any of the
foregoing, or on a pay-per-view basis, or near video-on-demand, or video-on-demand basis or otherwise) any one or more of audio and/or visual images, audio content, or interactive content (including hyperlinks, re-purposed web-site content, database
content plus associated templates, formatting information and other data including any interactive applications or functionality), text, data, graphics, or other content, by means of any means of distribution, transmission or delivery system or
technology (whether now known or herein after invented). 
 “Corporate Trust Office of the Trustee” will be at the address
of the Trustee specified in Section 13.01 or such other address as to which the Trustee may give notice to the Issuer. 

“Credit Facility” means, one or more debt facilities or arrangements (including, without limitation, the facilities made
available under the Senior Facility Agreement) or commercial paper facilities with banks or other institutions or investors providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such
institutions or to special purpose entities formed to borrow from such institutions against such receivables), letters of credit or other Indebtedness, in each case, as amended, restated, modified, renewed, refunded, replaced, restructured,
refinanced, repaid, increased or extended in whole or in part from time to time (and whether in whole or in part and whether or not with the original administrative agent and lenders or another administrative agent or agents or other banks or
institutions or investors and whether provided under the Senior Facility Agreement or one or more other credit or other agreements, indentures, financing agreements or otherwise) and in each case including all agreements, instruments and documents
executed and delivered pursuant to or in connection with the foregoing (including but not limited to any notes and letters of credit issued pursuant thereto and any guarantee and collateral agreement, patent and trademark security agreement,
mortgages or letter of credit applications and other guarantees, pledges, agreements, security agreements and collateral documents). Without limiting the generality of the foregoing, the term “Credit Facility” shall include any agreement
or instrument (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or
available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof. 
 “Credit Facility
Assumption” means (i) the assumption by, or assignment or other transfer to, any Proceeds Loan Obligor of any obligations under Credit Facilities incurred by the Senior Secured Notes Issuer and its Subsidiaries and/or (ii) the
acquisition or other transfer of the Senior Secured Notes Issuer and its Subsidiaries, together with any outstanding obligations under Credit Facilities incurred by the Senior Secured Notes Issuer and its Subsidiaries, by any Proceeds Loan Obligor,
in each case, pursuant to the Ziggo Group Combination. 
 “Currency Agreement” means, in respect of a Person, any foreign
exchange contract, currency swap agreement, futures contract, option contract, derivative or other similar agreement as to which such Person is a party or a beneficiary. 

“Custodian” means Deutsche Bank Trust Company Americas, as custodian with respect to the Dollar Notes in global form, or any
successor thereto. 
 “Default” means any event which is, or after notice or passage of time or both would be, an Event of
Default; provided that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed to be cured if such previous Default is cured prior to becoming
an Event of Default. 

  
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 EXHIBIT H 
  

 “Definitive Registered Note” means a certificated Note registered in the
name of the Holder thereof and issued in accordance with Section 2.07, substantially in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of
Interests in the Global Note” attached thereto. 
 “Depositary” means, with respect to the Dollar Notes issuable or
issued in whole or in part in global form, DTC, including any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision(s) of this Indenture. 

“Designated Non-Cash Consideration” means the fair market value (as determined in good faith by the Board of Directors or
senior management of the Issuer or the Affiliate Issuer) of non-cash consideration received by the Issuer, the Affiliate Issuer or a Restricted Subsidiary in connection with an Asset Disposition that is so designated as Designated Non-Cash
Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent payment, redemption, retirement, sale or other disposition of
such Designated Non-Cash Consideration. A particular item of Designated Non-Cash Consideration will no longer be considered to be outstanding when and to the extent it has been paid, redeemed or otherwise retired or sold or otherwise disposed of in
compliance with Section 4.10. 
 “Disqualified Stock” means, with respect to any Person, any Capital Stock of such
Person which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event: 
  

	 	(1)	matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise; 

  

	 	(2)	is convertible or exchangeable for Indebtedness or Disqualified Stock (excluding Capital Stock which is convertible or exchangeable solely at the option of the Issuer or the Affiliate Issuer or a Restricted Subsidiary);
or 

  

	 	(3)	is redeemable at the option of the Holder of the Capital Stock in whole or in part, 

 in each case on or prior
to the earlier of the date (a) of the Stated Maturity of the Notes or (b) on which there are no Notes outstanding, provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or
exchangeable or is so redeemable at the option of the Holder thereof prior to such date will be deemed to be Disqualified Stock; provided, further that any Capital Stock that would constitute Disqualified Stock solely because the Holders
thereof have the right to require the Issuer or the Affiliate Issuer to repurchase such Capital Stock upon the occurrence of a change of control or asset sale (each defined in a substantially identical manner to the corresponding definitions in this
Indenture) shall not constitute Disqualified Stock if the terms of such Capital Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) provide that the Issuer and the Affiliate Issuer may not
repurchase or redeem any such Capital Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) pursuant to such provision prior to compliance by the Issuer or the Affiliate Issuer with the provisions of
Section 3.11 and Section 4.10 and Section 4.14 and such repurchase or redemption complies with Section 4.07. 

“Distribution Business” means: (1) the business of upgrading, constructing, creating, developing, acquiring, operating,
owning, leasing and maintaining cable television networks 

  
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 EXHIBIT H 
  

 
(including for avoidance of doubt master antenna television, satellite master antenna television, single and multi channel microwave single or multi point distribution systems and direct-to-home
satellite systems) for the transmission, reception and/or delivery of multi channel television and radio programming, telephony and internet and/or data services to the residential markets; or (2) any business which is incidental to or related
to such business. 
 “dollar” or “$” means the lawful currency of the United States of America. 

“Dollar 144A Global Note” means a Global Note substantially in the form of Exhibit A bearing the Global Note Legend
and the Private Placement Legend and deposited with the Custodian and registered in the name of the Depositary or its nominee issued in a denomination equal to the outstanding principal amount of the Dollar Notes initially sold in reliance on Rule
144A. 
 “Dollar Applicable Premium” means with respect to a Dollar Note at any Redemption Date prior to January 15,
2020, the excess of (1) the present value at such Redemption Date of (a) the redemption price of such Dollar Note on January 15, 2020 (such redemption price being described under Section 3.07(c) exclusive of any accrued and
unpaid interest) plus (b) all required remaining scheduled interest payments due on such Dollar Note through January 15, 2020 (but excluding accrued and unpaid interest to the Redemption Date), computed using a discount rate equal to the
Treasury Rate plus 50 basis points over (2) the principal amount of such Dollar Note on such Redemption Date. 
 “Dollar
Book-Entry Interest” means a beneficial interest in a Dollar Global Note held by or through a Participant. 
 “Dollar
Definitive Registered Note” means a Definitive Registered Note bearing the Private Placement Legend in a minimum principal amount at maturity of $200,000 and integral multiples of $1,000 above $200,000. 

“Dollar Global Note” means a Dollar 144A Global Note or a Dollar Regulation S Global Note. 

“Dollar Global Note Legend” means the legend set forth in Section 2.07(j)(3), which is required to be placed on all
Dollar Global Notes issued under this Indenture. 
 “Dollar Regulation S Global Note” means a Global Note, substantially in
the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with the Custodian and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding
principal amount of the Dollar Notes initially sold in reliance on Rule 903 of Regulation S. 
 “DTC” means The Depository
Trust Company, a limited-purpose trust company under New York law, or any successor thereto. 
 “Electronic Means” means
the following communications methods: S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunication) messaging, email, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or
authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder. 

“Enforcement Sale” means (1) any sale or disposition (including by way of public auction) of the Notes Collateral
pursuant to an enforcement action taken by the Security Agent in accordance with the provisions of the Priority Agreement to the extent such sale or 

  
 14 

 EXHIBIT H 
  

 
disposition is effected in compliance with the provisions of the Priority Agreement, or (2) any sale or disposition of the Notes Collateral pursuant to the enforcement of security in favor
of other Indebtedness of the Issuer, the Affiliate Issuer or the Restricted Subsidiaries which complies with the terms of an Additional Priority Agreement (or if there is no such priority agreement, would substantially comply with the requirements
of clause (1) hereof). 
 “Equity Offering” means (1) the distribution of Capital Stock of the Spin Parent in
connection with any Spin-Off, or (2) a sale of (a) Capital Stock of the Issuer or the Affiliate Issuer (other than Disqualified Stock), or (b) Capital Stock the proceeds of which are contributed as equity share capital to the Issuer
or the Affiliate Issuer or as Subordinated Shareholder Loans, or (c) Subordinated Shareholder Loans. 
 “Escrowed
Proceeds” means the proceeds from the offering of any debt securities or other Indebtedness paid into escrow accounts with an independent escrow agent on the date of the applicable offering or incurrence pursuant to escrow arrangements that
permit the release of amounts on deposit in such escrow accounts upon satisfaction of certain conditions or the occurrence of certain events. The term “Escrowed Proceeds” shall include any interest earned on the amounts held in escrow.

 “euro” or “€” means the currency introduced at the start of the third stage of the European economic and
monetary union pursuant to the Treaty establishing the European Community, as amended by the Treaty on European Union. 
 “Euro 144A
Global Note” means a Global Note substantially in the form of Exhibit A bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Common Depositary or
its nominee issued in a denomination equal to the outstanding principal amount of the Euro Notes initially sold in reliance on Rule 144A. 

“Euro Applicable Premium” means with respect to a Euro Note at any Redemption Date prior to January 15, 2020, the excess
of (1) the present value at such Redemption Date of (a) the redemption price of such Euro Note on January 15, 2020 (such redemption price being described under Section 3.07(c) exclusive of any accrued and unpaid interest) plus
(b) all required remaining scheduled interest payments due on such Euro Note through January 15, 2020 (but excluding accrued and unpaid interest to the Redemption Date), computed using a discount rate equal to the Bund Rate plus 50 basis
points over (2) the principal amount of such Euro Note on such Redemption Date. 
 “Euro Book-Entry Interest” means a
beneficial interest in a Euro Global Note held by or through a Participant. 
 “Euro Definitive Registered Note” means a
Definitive Registered Note bearing the Private Placement Legend in a principal amount of €100,000 and integral multiples of €1,000 above €100,000. 

“Euro Equivalent” means, with respect to any monetary amount in a currency other than euro, at any time of determination
thereof by the Issuer, the amount of euro obtained by converting such currency other than euro involved in such computation into euro at the spot rate for the purchase of euro with the applicable currency other than euro as published in The
Financial Times in the “Currency Rates” section (or, if The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source as may be selected in good faith by the Board of
Directors or senior management of the Issuer) on the date of such determination. 

  
 15 

 EXHIBIT H 
  

 “Euro Global Note” means a Euro 144A Global Note or a Euro Regulation S
Global Notes. 
 “Euro Global Note Legend” means the legend set forth in Section 2.07(j)(2), which is required to be
placed on all Euro Global Notes issued under this Indenture. 
 “Euro MTF” means the Euro MTF, the alternative market of
the Luxembourg Stock Exchange. 
 “Euro Regulation S Global Note” means a Global Note, substantially in the form of
Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Common Depositary or its nominee, issued in a denomination equal to the outstanding
principal amount of the Euro Notes initially sold in reliance on Rule 903 of Regulation S. 
 “Euroclear” means Euroclear
Bank, S.A./N.V., as operator of the Euroclear system. 
 “European Government Obligations” means any security that is
(1) a direct obligation of Ireland, Belgium, the Netherlands, France, The Federal Republic of Germany or any other country that is a member of the European Monetary Union on the Issue Date, for the payment of which the full faith and credit of
such country is pledged or (2) an obligation of a person controlled or supervised by and acting as an agency or instrumentality of any such country the payment of which is unconditionally guaranteed as a full faith and credit obligation by such
country, which, in either case under the preceding clause (1) or (2), is not callable or redeemable at the option of the issuer thereof. 

“European Union” means the European Union, including member states as of May 1, 2004 but excluding any country which
became or becomes a member of the European Union after May 1, 2004. 
 “Euro-zone” means the region comprised of
member states of the European Union that adopt the euro. 
 “Exchange Act” means the United States Securities Exchange Act
of 1934, as amended. 
 “Excluded Contribution” means Net Cash Proceeds or property or assets received by the Issuer or the
Affiliate Issuer as capital contributions or Subordinated Shareholder Loans to the Issuer or the Affiliate Issuer after May 7, 2010 or from the issuance or sale (other than to a Restricted Subsidiary) of Capital Stock (other than Disqualified
Stock) of the Issuer or the Affiliate Issuer, in each case to the extent designated as an Excluded Contribution pursuant to an Officer’s Certificate of the Issuer. 

“Existing Senior Notes” means Ziggo Bond Company B.V.’s €743,128,000 aggregate principal amount of 7.125% Senior
Notes due 2024. 
 “Existing Senior Secured Notes” means the €750 million 3 5/8% Senior Secured Notes due 2020 issued by Ziggo B.V. outstanding on the Issue Date. 

“fair market value” unless otherwise specified, wherever such term is used in this Indenture (except as otherwise
specifically provided in this Indenture), may be conclusively established by means of an Officer’s Certificate or a resolution of the Board of Directors of the Issuer or the Affiliate Issuer setting out such fair market value as determined by
such Officer or such Board of Directors in good faith. 

  
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 EXHIBIT H 
  

 “Fold-In Issuer” means any of the Proceeds Loan Obligors (or their
successors) following the Ziggo Group Combination. 
 “GAAP” means generally accepted accounting principles in the United
States of America as in effect as of the Issue Date or, for purposes of Section 4.03, as in effect from time to time; provided that at any date after the Issue Date the Issuer or the Affiliate Issuer may make an irrevocable election to
establish that “GAAP” shall mean GAAP as in effect on a date that is on or prior to the date of such election. Except as otherwise expressly provided below or in this Indenture, all ratios and calculations based on GAAP contained in this
Indenture shall be computed in conformity with GAAP. At any time after the Issue Date, the Issuer or the Affiliate Issuer may elect to apply for all purposes of this Indenture, in lieu of GAAP, IFRS and, upon such election, references to GAAP herein
will be construed to mean IFRS as in effect on the Issue Date; provided that (1) all financial statements and reports to be provided, after such election, pursuant to this Indenture shall be prepared on the basis of IFRS as in effect from time
to time (including that, upon first reporting its fiscal year results under IFRS, the financial statements of the Reporting Entity (but not the financial statements of the Issuer) shall be restated on the basis of IFRS for the year ending
immediately prior to the first fiscal year for which financial statements have been prepared on the basis of IFRS), and (2) from and after such election, all ratios, computations and other determinations based on GAAP contained in this
Indenture shall, at the option of the Issuer or the Affiliate Issuer, (a) continue to be computed in conformity with GAAP (provided that, following such election, the annual and quarterly information required by clauses (1) and (2) of
the first paragraph of Section 4.03 shall include a reconciliation, either in the footnotes thereto or in a separate report delivered therewith, of such GAAP presentation to the corresponding IFRS presentation of such financial information), or
(b) be computed in conformity with IFRS with retroactive effect being given thereto assuming that such election had been made on the Issue Date. Thereafter, the Issuer or the Affiliate Issuer may, at its option, elect to apply GAAP or IFRS and
compute all ratios, computations and other determinations based on GAAP or IFRS, as applicable, all on the basis of the foregoing provisions of this definition of GAAP. 

“Global Note Legend” means the Euro Global Note Legend or the Dollar Global Note Legend, as applicable. 

“Global Notes” means, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global Notes
deposited with or on behalf of and registered in the name of the Depositary or the nominee of the Common Depositary, substantially in the form of Exhibit A hereto and that bears the Global Note Legend and that has the “Schedule of
Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 2.01, 2.07(c), 2.07(d), 2.07(f) or 2.07(h). 

“guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness
of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 
  

	 	(1)	to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase
assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise); or 

  

	 	(2)	entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided,
however, that the term “guarantee” will not include endorsements for collection or deposit in the ordinary course of business. The term “guarantee” used as a verb has a corresponding meaning. 

  
 17 

 EXHIBIT H 
  

 “guarantor” means the obligor under a guarantee. 

“Hedging Obligations” of any Person means the obligations of such Person pursuant to any Interest Rate Agreement, Commodity
Agreement or Currency Agreement. 
 “Holder” means a Person in whose name a Note is registered on the Registrar’s
books. 
 “Holding Company” means, in relation to a Person, an entity of which that Person is a Subsidiary. 

“IFRS” means the accounting standards issued by the International Accounting Standards Board and its predecessors. 

“Incur” means issue, create, assume, guarantee, incur or otherwise become liable for; provided, however, that
any Indebtedness or Capital Stock of a Person existing at the time such person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) will be deemed to be Incurred by such Restricted Subsidiary at the time it
becomes a Restricted Subsidiary; and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing. 

“Indebtedness” means, with respect to any Person on any date of determination (without duplication): 

 

	 	(1)	money borrowed or raised and debit balances at banks; 

  

	 	(2)	any bond, note, loan stock, debenture or similar debt instrument; 

  

	 	(3)	acceptance or documentary credit facilities; 

  

	 	(4)	receivables sold or discounted (otherwise than on a non-recourse basis and other than in the normal course of business for collections); 

 

	 	(5)	any other transaction (including without limitation forward sale or purchase agreements) having the commercial effect of a borrowing or raising of money or any of (2) to (4) above; 

 

	 	(6)	the principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any Restricted Subsidiary,
any Preferred Stock (but excluding, in each case, any accrued dividends); and 

  

	 	(7)	the principal component of Indebtedness of other Persons to the extent guaranteed by such Person to the extent not otherwise included in the Indebtedness of such Person, 

provided that Indebtedness which has been cash collateralized shall not be included in any calculation of Indebtedness to the extent so cash
collateralized. 
 Notwithstanding the foregoing, “Indebtedness” shall not include (a) any deposits or prepayments received
by the Issuer, the Affiliate Issuer or a Restricted Subsidiary from a customer or subscriber for its service, (b) any obligations to make payments in relation to 

  
 18 

 EXHIBIT H 
  

 
earn outs, (c) Indebtedness which is in the nature of equity (other than redeemable shares), (d) Capitalized Lease Obligations, (e) any indebtedness in respect of Qualified
Receivables Transactions, (f) pension obligations (g) any “parallel debt” obligations to the extent such obligations mirror other Indebtedness and (h) any payments for assets acquired or services supplied deferred (including
Trade Payables) in accordance with the terms pursuant to which the relevant assets were or are to be acquired or services were or are to be supplied. The amount of Indebtedness of any Person at any date will be the outstanding balance at such date
of all unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date. 

“Indenture” means this Indenture, as amended or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm of nationally recognized standing
that is, in the good faith judgment of the Board of Directors or senior management of the Issuer or the Affiliate Issuer, qualified to perform the task for which it has been engaged. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 

“Initial Notes” means the $400,000,000 aggregate principal amount of Dollar Notes and €400,000,000 aggregate principal amount
of the Euro Notes issued under this Indenture on the Issue Date. 
 “Initial Public Offering” means an Equity Offering of
common stock or other common equity interests of the Issuer, the Affiliate Issuer, the Spin Parent or any direct or indirect parent company of the Issuer or the Affiliate Issuer (the “IPO Entity”) following which there is a Public Market
and, as a result of which, the shares of the common stock or other common equity interests of the IPO Entity in such offering are listed on an internationally recognized exchange or traded on an internationally recognized market. 

“Instructions” means Written Instructions. 

“Interest Payment Date” has the meaning given to it in the Notes. 

“Interest Rate Agreement” means, with respect to any Person, any interest rate protection agreement, interest rate future
agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement as to which such Person is party or a
beneficiary. 
 “Intra-Group Services” means any of the following (provided that the terms of each such transaction are not
materially less favorable, taken as a whole, to the Issuer, the Affiliate Issuer or a Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable transaction in arm’s length dealings with a Person that is not an
Affiliate): 
  

	 	(1)	the sale of programming or other content by Liberty Global, the Spin Parent or any of their respective Subsidiaries to the Issuer, the Affiliate Issuer or any Restricted Subsidiary; 

 

	 	(2)	the lease or sublease of office space, other premises or equipment by the Issuer, the Affiliate Issuer or the Restricted Subsidiaries to Liberty Global, the Spin Parent or any of their Subsidiaries or by Liberty Global,
the Spin Parent or any of their Subsidiaries to the Issuer, the Affiliate Issuer or the Restricted Subsidiaries; 

  
 19 

 EXHIBIT H 
  

	 	(3)	the provision or receipt of other goods, services, facilities or other arrangements (in each case not constituting Indebtedness) in the ordinary course of business, by the Issuer, the Affiliate Issuer or the Restricted
Subsidiaries to or from Liberty Global, the Spin Parent or any of their Subsidiaries, including, without limitation, (a) the employment of personnel, (b) provision of employee healthcare or other benefits, (c) acting as agent to buy
or develop equipment, other assets or services or to trade with residential or business customers, and (d) the provision of treasury, audit, accounting, banking, strategy, branding, marketing, network, technology, research and development,
telephony, office, administrative, compliance, payroll or other similar services; and 

  

	 	(4)	the extension, in the ordinary course of business and on terms not materially less favorable to the Issuer or the Restricted Subsidiaries than arm’s length terms, by or to the Issuer, the Affiliate Issuer or the
Restricted Subsidiaries to or by Liberty Global or any of their Subsidiaries of trade credit not constituting Indebtedness in relation to the provision or receipt of Intra-Group Services referred to in paragraphs (1), (2) or (3) of this
definition of Intra-Group Services. 

 “Investment” means, with respect to any Person, all investments by
such Person in other Persons (including Affiliates) in the form of any direct or indirect advance, loan (other than advances or extensions of credit to customers in the ordinary course of business) or other extensions of credit (including by way of
guarantee or similar arrangement, but excluding any debt or extension of credit represented by a bank deposit other than a time deposit) or capital contribution to (by means of any transfer of cash or other property to others or any payment for
property or services for the account or use of others), or any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by, such Person and all other items that are or would be classified as investments on a balance
sheet prepared in accordance with GAAP; provided that none of the following will be deemed to be an Investment: 
  

	 	(1)	Hedging Obligations entered into in the ordinary course of business and in compliance with this Indenture; 

  

	 	(2)	endorsements of negotiable instruments and documents in the ordinary course of business; and 

  

	 	(3)	an acquisition of assets, Capital Stock or other securities by the Issuer, the Affiliate Issuer or a Subsidiary for consideration to the extent such consideration consists of Common Stock of the Issuer or the Affiliate
Issuer. 

 For purposes of the definition of “Unrestricted Subsidiary” and Section 4.07, 

 

	 	(a)	 “Investment” will include the portion (proportionate to the Issuer’s or the Affiliate Issuer’s equity interest in a Restricted
Subsidiary to be designated as an Unrestricted Subsidiary) of the fair market value of the net assets of such Restricted Subsidiary of the Issuer and the Affiliate Issuer at the time that such Restricted Subsidiary is designated an Unrestricted
Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer or the Affiliate Issuer will be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an
amount (if 

  
 20 

 EXHIBIT H 
  

	 	
positive) equal to (i) the Issuer’s or the Affiliate Issuer’s “Investment” in such Subsidiary at the time of such redesignation less (ii) the portion (proportionate
to the Issuer’s or the Affiliate Issuer’s equity interest in such Subsidiary) of the fair market value of the net assets (as conclusively determined by the Board of Directors or senior management of the Issuer or the Affiliate Issuer in
good faith) of such Subsidiary at the time that such Subsidiary is so redesignated a Restricted Subsidiary; and 

  

	 	(b)	any property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Board of Directors or senior
management of the Issuer or the Affiliate Issuer. 

 If the Issuer, the Affiliate Issuer or a Restricted Subsidiary transfers,
conveys, sells, leases or otherwise disposes of Voting Stock of a Restricted Subsidiary such that such Subsidiary is no longer a Restricted Subsidiary, then the Investment of the Issuer or the Affiliate Issuer in such Person shall be deemed to have
been made as of the date of such transfer or other disposition in an amount equal to the fair market value (as determined in good faith by the Board of Directors or senior management of the Issuer or the Affiliate Issuer). 

“Investment Grade Securities” means: 
  

	 	(1)	securities issued by the U.S. government or by any agency or instrumentality thereof (other than Cash Equivalents) or directly and fully guaranteed or insured by the U.S. government and in each case with maturities not
exceeding two years from the date of the acquisition; 

  

	 	(2)	securities issued by or a member of the European Union as of January 1, 2004, or any agency or instrumentality thereof (other than Cash Equivalents) or directly and fully guaranteed or insured by a member of the
European Union as of January 1, 2004, and in each case with maturities not exceeding two years from the date of the acquisition; 

  

	 	(3)	debt securities or debt instruments with a rating of A or higher by Standard & Poor’s Ratings Services or A-2 or higher by Moody’s Investors Service, Inc. or the equivalent of such rating by such
rating organization, or if no rating of Standard & Poor’s Ratings Services or Moody’s Investors Service, Inc. then exists, the equivalent of such rating by any other nationally recognized securities ratings agency, by excluding
any debt securities or instruments constituting loans or advances among the Issuer, the Affiliate Issuer and their Subsidiaries; 

  

	 	(4)	investments in any fund that invests exclusively in investments of the type described in clauses (1) through (3) which fund may also hold immaterial amounts of cash and Cash Equivalents pending investment
and/or distribution; and 

  

	 	(5)	corresponding instruments in countries other than those identified in clauses (1) and (2) above customarily utilized for high quality investments and, in each case, with maturities not exceeding two years from
the date of the acquisition. 

  
 21 

 EXHIBIT H 
  

 “Investment Grade Status” shall occur when the Notes receive both of the
following: 
  

	 	(1)	a rating of “Baa3” (or the equivalent) or higher from Moody’s Investors Service, Inc. or any of its successors or assigns; and 

 

	 	(2)	a rating of “BBB-” (or the equivalent) or higher from Standard & Poor’s Ratings Services, or any of its successors or assigns, 

in each case, with a “stable outlook” from such rating agency. 

“IPO Market Capitalization” means an amount equal to (i) the total number of issued and outstanding shares of Capital
Stock of the IPO Entity at the time of closing of the Initial Public Offering multiplied by (ii) the price per share at which such shares of common stock or common equity interests are sold or distributed in such Initial Public Offering. 

“Issue Date” means January 29, 2015. 

“Issuer” means the Proceeds Loan Obligor (or its successor) who assumes the Obligations of the Old Issuer under the Notes and
this Indenture pursuant to the Ziggo Group Assumption following the Ziggo Group Combination, and any and all successors thereto. 

“Liberty Global” means Liberty Global plc and any and all successors thereto. 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional sale
or other title retention agreement or lease in the nature thereof). 
 “Losses” means any and all claims, losses,
liabilities, damages, costs, expenses and judgments (including legal fees and expenses) sustained by either party. 
 “Management
Fees” means any management, consultancy or other similar fees payable by the Issuer, the Affiliate Issuer or any Restricted Subsidiary. 

“Market Capitalization” means an amount equal to (1) the total number of issued and outstanding shares of Capital Stock
of the IPO Entity on the date of the declaration of the relevant dividend, multiplied by (2) the arithmetic mean of the closing prices per share of such Capital Stock for the 30 consecutive trading days immediately preceding the date of the
declaration of such dividend. 
 “Net Available Cash” from an Asset Disposition means cash payments received (including any
cash payments received by way of deferred payment of principal pursuant to a note or instalment receivable or otherwise and net proceeds from the sale or other disposition of any securities received as consideration, but only as and when received,
but excluding any other consideration received in the form of assumption by the acquiring person of Indebtedness or other obligations relating to the properties or assets that are the subject of such Asset Disposition or received in any other
non-cash form) therefrom, in each case net of: 
  

	 	(1)	all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expenses Incurred, and all federal, state, provincial, foreign and local taxes required to be paid or accrued
as a liability under GAAP (after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Disposition; 

 

	 	(2)	 all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien

  
 22 

 EXHIBIT H 
  

	 	
upon such assets, or which must by its terms, or in order to obtain a necessary consent to such Asset Disposition, or by applicable law be repaid out of the proceeds from such Asset Disposition;

  

	 	(3)	all distributions and other payments required to be made to minority interest Holders in Subsidiaries or joint ventures as a result of such Asset Disposition; and 

 

	 	(4)	the deduction of appropriate amounts to be provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the assets disposed of in such Asset Disposition and retained by the
Issuer, the Affiliate Issuer or any Restricted Subsidiary after such Asset Disposition. 

 “Net Cash
Proceeds” means, with respect to any issuance or sale of Capital Stock, Subordinated Shareholder Loans or other capital contributions, the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees,
underwriters’ or placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other fees and charges actually Incurred in connection with such issuance or sale and net of taxes paid or payable as a result of
such issuance or sale (after taking into account any available tax credit or deductions and any tax sharing arrangements). 
 “New
Holdco” means the direct Subsidiary of Liberty Global following the Post-Closing Reorganizations, or, if the distribution or other transfer pursuant to the Post-Closing Reorganizations is to a second-tier Subsidiary of Liberty Global, such
second-tier Subsidiary. 
 “Non-U.S. Person” means a Person who is not a U.S.
Person. 
 “Notes” has the meaning assigned to it in the preamble to this Indenture. The Initial Notes and the Additional
Notes shall be treated as a single class for all purposes under this Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional Notes. 

“Notes Collateral” means the Proceeds Loan Collateral remaining following the Ziggo Group Combination and any other security
interests granted for the benefit of Holders from time to time. 
 “Notes Collateral Documents” means the security
documents creating the security interest in the Notes Collateral. 
 “Obligations” means any principal, interest,
penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 

“Offering Memorandum” means the final Offering Memorandum, dated January 14, 2015, relating to the offer of the Initial
Notes. 
 “Officer” of any Person means the Chairman of the Board of Directors, the Chief Executive Officer, the Chief
Financial Officer, any Managing Director, the Treasurer, any Assistant Treasurer, the Secretary, any Assistant Secretary, or any authorized signatory of such Person. 

“Officer’s Certificate” means a certificate signed by one or more Officers. 

“Old Issuer” means Ziggo Bond Finance B.V., the original issuer of the Initial Notes issued pursuant to this Indenture. 

  
 23 

 EXHIBIT H 
  

 “Opinion of Counsel” means a written opinion from legal counsel who is
reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer, the Affiliate Issuer or the Trustee. 

“Parent” means Liberty Global, any Subsidiary of Liberty Global of which the Issuer or the Affiliate Issuer is a Subsidiary
on the Issue Date and any other Person of which the Issuer or the Affiliate Issuer at any time is or becomes a Subsidiary after the Issue Date. 

“Parent Company” means the Reporting Company; provided, however, that upon consummation of (i) the Post-Closing
Reorganization, “Parent Company” will mean New Holdco and its successors, and (ii) a Spin-Off, “Parent Company” will mean the Spin Parent and its successors. 

“Parent Expenses” means: 
  

	 	(1)	costs (including all professional fees and expenses) Incurred by any Parent in connection with reporting obligations under or otherwise Incurred in connection with compliance with applicable laws, applicable rules or
regulations of any governmental, regulatory or self-regulatory body or stock exchange, this Indenture or any other agreement or instrument relating to Indebtedness of the Issuer, the Affiliate Issuer or any Restricted Subsidiary; 

 

	 	(2)	indemnification obligations of any Parent owing to directors, officers, employees or other Persons under its charter or by-laws or pursuant to written agreements with any such Person with respect to its ownership of the
Issuer or the Affiliate Issuer or the conduct of the business of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries; 

  

	 	(3)	obligations of any Parent in respect of director and officer insurance (including premiums therefor) with respect to its ownership of the Issuer or the Affiliate Issuer or the conduct of the business of the Issuer, the
Affiliate Issuer and the Restricted Subsidiaries; 

  

	 	(4)	general corporate overhead expenses, including professional fees and expenses and other operational expenses of any Parent or Subsidiary of a Parent related to the ownership or operation of the business (including, but
not limited to, Intra-Group Services) of the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries, including acquisitions or dispositions by the Issuer, the Affiliate Issuer or the Subsidiaries permitted hereunder (whether or not
successful) in each case, to the extent such costs, obligations and/or expenses are not paid by another Subsidiary of such Parent; and 

  

	 	(5)	fees and expenses payable by any Parent in connection with any Related Transaction. 

“Pari Passu Indebtedness” means Indebtedness of the Issuer or the Affiliate Issuer that ranks equally or junior in right of
payment with the Notes (after giving effect to any Note Guarantee and the Priority Agreement or any Additional Priority Agreement). 

“Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the
Depositary, Euroclear or Clearstream, respectively. 
 “Permitted Asset Swap” means the concurrent purchase and sale or
exchange of related business assets (including, without limitation, securities of a Related Business) or a combination of such assets, cash and Cash Equivalents between the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries and
another Person. 

  
 24 

 EXHIBIT H 
  

 “Permitted Business” means any business: 

 

	 	(1)	that consists of the upgrade, construction, creation, development, marketing, acquisition (to the extent permitted under this Indenture), operation, utilization and maintenance of networks that use existing or future
technology for the transmission, reception and delivery of voice, video and/or other data (including networks that transmit, receive and/or deliver services such as multi channel television and radio, programming, telephony (including for the
avoidance of doubt, mobile telephony), Internet services and content, high speed data transmission, video, multi media and related activities); or 

  

	 	(2)	engaged in by the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries on the Issue Date; 

  

	 	(3)	or other activities that are reasonably similar, ancillary, complementary or related to, or a reasonable extension, development or expansion of, the businesses in which the Issuer, the Affiliate Issuer and the
Restricted Subsidiaries are engaged on the Issue Date, including, without limitation, all forms of television, telephony (including for the avoidance of doubt, mobile telephony) and internet services and any services relating to carriers, networks,
broadcast or communications services, or Content; or 

  

	 	(4)	that comprises being a Holding Company of one or more Persons engaged in any such business. 

“Permitted Collateral Liens” means: 
  

	 	(1)	Liens on the Notes Collateral that are described in one or more of clauses (2), (3), (4), (5), (7) and (10) of the definition of “Permitted Liens” and that, in each case, would not materially
interfere with the ability of the Security Agent to enforce the Lien in the Notes Collateral granted under the Notes Collateral Documents; 

  

	 	(2)	Liens on the Notes Collateral to secure any Additional Notes or Pari Passu Indebtedness; and 

  

	 	(3)	any Refinancing Indebtedness in respect of Indebtedness referred to in the foregoing clauses (1) and (2), 

provided, however, that (i) such Lien ranks equal or junior to all other Liens on the Notes Collateral securing Senior Indebtedness
of the Issuer and the Affiliate Issuer, and (ii) Holders of Indebtedness referred to in clause (2) (or their duly authorized Representative) shall accede to the Priority Agreement or enter into an Additional Priority Agreement as permitted
under Section 4.23 
 “Permitted Holders” means, collectively, (1) Liberty Global, (2) in the event of a
Spin-Off, the Spin Parent and any Subsidiary of the Spin Parent, (3) any Affiliate or Related Person of a Permitted Holder described in clause (1) above, and any successor to such Permitted Holder, Affiliate, or Related Person,
(4) any Person who is acting as an underwriter in connection with any public or private offering of Capital Stock of the Issuer or the Affiliate Issuer, acting in such capacity and (5) any “person” or “group” of related
persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) whose acquisition of 

  
 25 

 EXHIBIT H 
  

 
“beneficial ownership” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act) of Voting Stock or of all or substantially all of the assets of the Issuer and the Restricted
Subsidiaries (taken as a whole) constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with Section 4.14. 

“Permitted Investment” means an Investment by the Issuer, the Affiliate Issuer or any Restricted Subsidiary in: 

 

	 	(1)	the Issuer, the Affiliate Issuer or a Restricted Subsidiary (other than a Receivables Entity) or a Person which will, upon the making of such Investment, become a Restricted Subsidiary (other than a Receivables Entity);

  

	 	(2)	another Person if as a result of such Investment such other Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the Issuer, the Affiliate Issuer or a Restricted
Subsidiary (other than a Receivables Entity); 

  

	 	(3)	cash and Cash Equivalents or Investment Grade Securities; 

  

	 	(4)	receivables owing to the Issuer, the Affiliate Issuer or any Restricted Subsidiary created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;
provided, however, that such trade terms may include such concessionary trade terms as the Issuer, the Affiliate Issuer or any such Restricted Subsidiary deems reasonable under the circumstances; 

 

	 	(5)	payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business;

  

	 	(6)	loans or advances to employees made in the ordinary course of business consistent with past practices of the Issuer, the Affiliate Issuer or such Restricted Subsidiary; 

 

	 	(7)	Capital Stock, obligations or securities received in settlement of debts created in the ordinary course of business and owing to the Issuer, the Affiliate Issuer or any Restricted Subsidiary, or as a result of
foreclosure, perfection or enforcement of any Lien, or in satisfaction of judgments or pursuant to any plan of reorganization or similar arrangement including upon the bankruptcy or insolvency of a debtor; 

 

	 	(8)	Investments made as a result of the receipt of non-cash consideration from a sale or other disposition of property or assets, including without limitation an Asset Disposition, in
each case, that was made in compliance with Section 4.10 and other Investments resulting from the disposition of assets in transactions excluded from the definition of “Asset Disposition” pursuant to the exclusions from such
definition; 

  

	 	(9)	 any Investment existing on the Issue Date or made pursuant to binding commitments in effect on the Issue Date or an Investment consisting of any
extension, modification, replacement, renewal or reinvestment of any Investment or binding commitment existing on the Issue Date or made in compliance with Section 4.07; provided, that the amount of any such Investment or binding
commitment may be increased (a) as required by the 

  
 26 

 EXHIBIT H 
  

	 	
terms of such Investment or binding commitment as in existence on the Issue Date (including as a result of the accrual or accretion of interest or original issue discount or the issuance of pay-in-kind securities) or (b) as otherwise permitted under this Indenture; 

  

	 	(10)	Currency Agreements, Commodity Agreements and Interest Rate Agreements and related Hedging Obligations, which transactions or obligations are Incurred in compliance with Section 4.09; 

 

	 	(11)	Investments by the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries, together with all other Investments pursuant to this clause (11), in an aggregate amount at the time of such Investment not to
exceed the greater of €350.0 million and 5.0% of Total Assets at any one time, provided that, if an Investment is made pursuant to this clause in a Person that is not a Restricted Subsidiary and such Person subsequently becomes a
Restricted Subsidiary or is subsequently designated a Restricted Subsidiary in compliance with Section 4.07, such Investment shall thereafter be deemed to have been made pursuant to clause (1) or (2) of the definition of
“Permitted Investments” and not this clause; 

  

	 	(12)	Investments by the Issuer, the Affiliate Issuer or a Restricted Subsidiary in a Receivables Entity or any Investment by a Receivables Entity in any other Person, in each case, in connection with a Qualified Receivables
Transaction, provided, however, that any Investment in any such Person is in the form of a Purchase Money Note, or any equity interest or interests in Receivables and related assets generated by the Issuer, the Affiliate Issuer or a Restricted
Subsidiary and transferred to any Person in connection with a Qualified Receivables Transaction or any such Person owning such Receivables; 

  

	 	(13)	guarantees issued in accordance with Section 4.09 and other guarantees (and similar arrangements) of obligations not constituting Indebtedness; 

 

	 	(14)	pledges or deposits (a) with respect to leases or utilities provided to third parties in the ordinary course of business or (b) otherwise described in the definition of “Permitted Liens” or made in
connection with Liens permitted under Section 4.12; 

  

	 	(15)	the Notes and the Existing Senior Notes; 

  

	 	(16)	so long as no Default or Event of Default of the type specified in Section 6.01(a)(1) or Section 6.01(a)(2) has occurred and is continuing, (a) minority Investments in any Person engaged in a Permitted
Business and (b) Investments in joint ventures that conduct a Permitted Business to the extent that, after giving pro forma effect to any such Investment, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00; 

 

	 	(17)	any Investment to the extent made using as consideration Capital Stock of the Issuer, the Affiliate Issuer (other than Disqualified Stock), Subordinated Shareholder Loans or Capital Stock of any Parent;

  

	 	(18)	 Investments acquired after the Issue Date as a result of the acquisition by the Issuer, the Affiliate Issuer or a Restricted Subsidiary, including by
way of merger, amalgamation or consolidation with or into the Issuer, the Affiliate Issuer or any Restricted Subsidiary in a transaction that is not prohibited by Section 5.01 after the Issue Date to the extent that such Investments were not

  
 27 

 EXHIBIT H 
  

	 	
made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

 

	 	(19)	Investments resulting from the disposition of assets in transactions excluded from the definition of “Asset Disposition” pursuant to the exclusions from such definition; 

 

	 	(20)	any Person where such Investment was acquired by the Issuer, the Affiliate Issuer or any Restricted Subsidiary (a) in exchange for any other Investment or accounts receivable held by the Issuer or any such
Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable or (b) as a result of a foreclosure by the Issuer or any such
Restricted Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; and 

  

	 	(21)	any transaction to the extent constituting an Investment that is permitted and made in accordance with the provisions of Section 4.11(b) (except those transactions described in Section 4.11(b)(1),
Section 4.11(b)(5), Section 4.11(b)(9) or Section 4.11(b)(19)). 

 “Permitted Liens” means:

 (A) with respect to any Restricted Subsidiary: 
  

	 	(1)	Liens on Receivables and related assets of the type described in the definition of “Qualified Receivables Transaction” Incurred in connection with a Qualified Receivables Transaction; 

 

	 	(2)	pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the
payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or United States government bonds to secure surety or appeal bonds to which such Person is a
party, or deposits as security for contested taxes or import or customs duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

 

	 	(3)	Liens imposed by law, including carriers’, warehousemens’, mechanics’ landlords’, materialmens’, repairmens’ and other like Liens, in each case for sums not yet overdue for a period of more
than 60 days or that are bonded or being contested in good faith by appropriate proceedings; 

  

	 	(4)	Liens for taxes, assessments or other governmental charges not yet subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings provided appropriate reserves required
pursuant to GAAP have been made in respect thereof; 

  

	 	(5)	Liens in favor of issuers of surety or performance bonds or letters of credit or bankers’ acceptances issued pursuant to the request of and for the account of such Person in the ordinary course of its business;

  
 28 

 EXHIBIT H 
  

	 	(6)	encumbrances, ground leases, easements or reservations of, or rights of others for, licenses, rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning, building codes or
other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of the Issuer, the Affiliate Issuer and the
Restricted Subsidiaries or to the ownership of its properties which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of the Issuer, the Affiliate Issuer
and the Restricted Subsidiaries; 

  

	 	(7)	Liens securing Hedging Obligations so long as the related Indebtedness is, and is permitted to be incurred under this Indenture, secured by a Lien on the same property securing such Hedging Obligation;

  

	 	(8)	leases, licenses, subleases and sublicenses of assets (including, without limitation, real property and intellectual property rights) which do not materially interfere with the ordinary conduct of the business of the
Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries; 

  

	 	(9)	Liens arising out of judgments, decrees, orders or awards not giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings which may have been duly initiated for the
review of such judgment, decree, order or award have not been finally terminated or the period within which such proceedings may be initiated has not expired; 

  

	 	(10)	Liens for the purpose of securing the payment of all or a part of the purchase price of, or Capitalized Lease Obligations, Purchase Money Obligations or other payments Incurred to finance the acquisition, improvement or
construction of, assets or property acquired or constructed in the ordinary course of business provided that such Liens do not encumber any other assets or property of the Issuer, the Affiliate Issuer or the Restricted Subsidiaries other than such
assets or property and assets affixed or appurtenant thereto; 

  

	 	(11)	Liens arising solely by virtue of any statutory or common law provisions or customary business provisions relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other
funds maintained with a depositary institution; provided that such deposit account is not intended by the Issuer, the Affiliate Issuer or any Restricted Subsidiary to provide collateral to the depository institution; 

 

	 	(12)	Liens arising from United States Uniform Commercial Code financing statement filings (or similar filings in other applicable jurisdictions) regarding operating leases entered into by the Issuer, the Affiliate Issuer and
the Restricted Subsidiaries in the ordinary course of business; 

  

	 	(13)	Liens existing on, or provided for under written arrangements existing on, the Issue Date; 

  
 29 

 EXHIBIT H 
  

	 	(14)	Liens on property, other assets or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary; provided, however, that any such Lien may not extend to any other property owned by
the Issuer, the Affiliate Issuer or any Restricted Subsidiary; 

  

	 	(15)	Liens on property at the time the Issuer, the Affiliate Issuer or a Restricted Subsidiary acquired the property, including any acquisition by means of a merger or consolidation with or into any Restricted Subsidiary;
provided, however, that such Liens may not extend to any other property owned by the Issuer, the Affiliate Issuer or such Restricted Subsidiary; 

  

	 	(16)	Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Issuer, the Affiliate Issuer or a Restricted Subsidiary; 

 

	 	(17)	Liens securing the Notes and any Additional Notes; 

  

	 	(18)	Liens securing Refinancing Indebtedness Incurred to refinance Indebtedness that was previously so secured, provided that any such Lien is limited to all or part of the same property or assets (plus improvements,
accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of property that is the
security for a Permitted Lien hereunder; 

  

	 	(19)	any interest or title of a lessor under any Capitalized Lease Obligation or operating lease; 

  

	 	(20)	Liens on Capital Stock or other securities of any Unrestricted Subsidiary that secure Indebtedness or other obligations of such Unrestricted Subsidiary; 

 

	 	(21)	Liens in respect of the ownership interests in, or assets owned by, any joint ventures or similar arrangements securing obligations of such joint ventures or similar agreements; 

 

	 	(22)	Liens over rights under loan agreements relating to, or over notes or similar instruments evidencing, the on-loan of proceeds received by a Restricted Subsidiary from the issuance of Indebtedness Incurred by a
Restricted Subsidiary, which Liens are created to secure payment of such Indebtedness; 

  

	 	(23)	Liens securing Indebtedness that is permitted to be Incurred by the Restricted Subsidiaries under Section 4.09(a)(1) or clauses (1), (3), (7), or (12) (in the case of (12), to the extent such guarantee is in
respect of Indebtedness otherwise permitted to be secured and specified in this definition of Permitted Liens), (15) and (17) of Section 4.09(b). 

  

	 	(24)	Liens on assets or property of a Restricted Subsidiary that is not a Note Guarantor securing Indebtedness of any Restricted Subsidiary that is not a Note Guarantor permitted by Section 4.09; 

  
 30 

 EXHIBIT H 
  

	 	(25)	Liens on Escrowed Proceeds for the benefit of the related Holders of debt securities or other Indebtedness (or the underwriters or arrangers thereof) or on cash set aside at the time of the Incurrence of any
Indebtedness or government securities purchased with such cash, in either case to the extent such cash or government securities prefund the payment of interest on such Indebtedness and are held in escrow accounts or similar arrangement to be applied
for such purpose; and 

  

	 	(26)	Liens Incurred with respect to obligations that do not exceed the greater of (a) €250.0 million and (b) 5.0% of Total Assets at any time outstanding: and 

(B) with respect to the Issuer and the Affiliate Issuer: 
  

	 	(1)	Liens securing the Notes; 

  

	 	(2)	Permitted Collateral Liens; 

  

	 	(3)	Liens securing guarantees of Indebtedness Incurred under Credit Facilities, to the extent the underlying Indebtedness was Incurred in compliance with Section 4.09(a) or Section 4.09(b)(1); 

 

	 	(4)	Liens on property at the time the Issuer or the Affiliate Issuer acquired the property, including any acquisition by means of a merger or consolidation with or into the Issuer or the Affiliate Issuer; provided, that
such Liens may not extend to any other property owned by the Issuer or the Affiliate Issuer; 

  

	 	(5)	Liens over (i) Capital Stock of any Restricted Subsidiary and (ii) rights under loan agreements, notes or similar instruments representing Indebtedness of any Restricted Subsidiary owing to and held by the
Issuer or the Affiliate Issuer, securing Indebtedness Incurred by a Restricted Subsidiary in compliance with (a) Section 4.09(a)(1) or clauses (1), (7), (15) and (17) of Section 4.09(b) and (b) any Refinancing Indebtedness
in respect of Indebtedness referred to in clause (a); and 

  

	 	(6)	Liens of the type described in clauses (3), (4), (5), (6), (7), (9), (10), (11), (12), (17), (19), (20), (21) and (23) of clause (A) of this definition of “Permitted Liens”. 

“Permitted Revolving Credit Facility” means, one or more debt facilities or arrangements that may be entered into by the
Issuer, the Affiliate Issuer or the Restricted Subsidiaries providing for revolving credit loans, letters of credit or other revolving indebtedness or other advances, in each case, Incurred in compliance with Section 4.09. 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company, government or any agency or political subdivision hereof or any other entity. 

“Post-Closing Reorganization” means the possible reorganization that is expected to include (i) a distribution or other
transfer of Ziggo Group Holding B.V. or the Reporting Entity and their Subsidiaries to Liberty Global or a first-tier or second-tier Subsidiary of Liberty Global through one or more mergers, transfers, consolidations or other similar transactions,
and/or (ii) the issuance by Ziggo Group Holding B.V. or the Reporting Entity of Capital Stock 

  
 31 

 EXHIBIT H 
  

 
to Liberty Global or a first-tier or second-tier Subsidiary of Liberty Global and, as consideration therefor, the assignment or transfer by Liberty Global or such first-tier or second-tier
Subsidiary of Liberty Global of assets to Ziggo Group Holding B.V. or the Reporting Entity. 
 “Preferred Stock”, as
applied to the Capital Stock of any corporation, partnership, limited liability company or other entity, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of
assets upon any voluntary or involuntary liquidation or dissolution of such entity, over shares of Capital Stock of any other class of such entity. 

“Priority Agreement” means the priority agreement dated January 17, 2014 (as amended on February, 20 2014 and as amended
and restated on July 4, 2014) between, among others, LGE Holdco VI B.V. and Deutsche Trustee Company Limited as security agent, as previously amended and as may be further amended and in effect from time to time. 

“Private Placement Legend” means the legend set forth in Section 2.07(j)(1) to be placed on all Notes issued under this
Indenture except where otherwise permitted by the provisions of this Indenture. 
 “Pro forma EBITDA” means, for any
period, the Consolidated EBITDA of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries, provided, however, that for the purposes of calculating Pro forma EBITDA for such period, if, as of such date of determination: 

 

	 	(1)	since the beginning of such period the Issuer, the Affiliate Issuer or any Restricted Subsidiary will have made any Asset Disposition or disposed of any company, any business, or any group of assets constituting an
operating unit of a business (any such disposition, a “Sale”) or if the transaction giving rise to the need to calculate the Consolidated Net Leverage Ratio is such a Sale, Pro forma EBITDA for such period will be reduced by an amount
equal to the Consolidated EBITDA (if positive) attributable to the assets which are the subject of such Sale for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such period;

  

	 	(2)	since the beginning of such period the Issuer, the Affiliate Issuer or any Restricted Subsidiary (by merger or otherwise) will have made an Investment in any Person that thereby becomes a Restricted Subsidiary, or
otherwise acquires any company, any business, or any group of assets constituting an operating unit of a business (any such Investment or acquisition, a “Purchase”) including any such Purchase occurring in connection with a transaction
causing a calculation to be made hereunder, Consolidated EBITDA for such period will be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of such period; and 

 

	 	(3)	since the beginning of such period any Person (that became a Restricted Subsidiary or was merged with or into the Issuer, the Affiliate Issuer or any Restricted Subsidiary since the beginning of such period) will have
made any Sale or any Purchase that would have required an adjustment pursuant to clause (1) or (2) above if made by the Issuer, the Affiliate Issuer or a Restricted Subsidiary since the beginning of such period, Consolidated EBITDA for
such period will be calculated after giving pro forma effect thereto as if such Sale or Purchase occurred on the first day of such period. 

For purposes of this definition and the definition of Consolidated Net Leverage Ratio, (a) whenever pro forma effect is to be
given to any transaction or calculation, the pro forma  

  
 32 

 EXHIBIT H 
  

 
calculations will be as determined in good faith by a responsible financial or accounting officer of the Issuer (including without limitation in respect of anticipated expense and cost
reductions) including, without limitation, as a result of, or that would result from any actions taken, committed to be taken or with respect to which substantial steps have been taken, by the Issuer, the Affiliate Issuer or any Restricted
Subsidiary including, without limitation, in connection with any cost reduction synergies or cost savings plan or program or in connection with any transaction, investment, acquisition, disposition, restructuring, corporate reorganization or
otherwise (regardless of whether these cost savings and cost reduction synergies could then be reflected in pro forma financial statements to the extent prepared), (b) in determining the amount of Indebtedness outstanding on any date of
determination, pro forma effect shall be given to any Incurrence, repayment, repurchase, defeasance or other acquisition, retirement or discharge of Indebtedness as if such transaction had occurred on the first day of the relevant period and
(c) interest on any Indebtedness that bears interest at a floating rate and that is being given pro forma effect shall be calculated as if the rate in effect on the date of calculation had been applicable for the entire period (taking into
account any Hedging Obligations applicable to such Indebtedness). 
 “Proceeds Loan Agreement” means the proceeds loan
facility agreement among Ziggo Bond Finance B.V. as lender, the obligors listed therein and Deutsche Trustee Company Limited, dated on or about the date of the release of the proceeds of the Initial Notes from escrow. 

“Proceeds Loan Collateral” means the security interests granted or pledged to secure the Obligations under the Proceeds Loan
Agreement immediately prior to the Ziggo Group Assumption. 
 “Proceeds Loan Obligors” means each of UPC Netherlands
Holding I B.V. and Ziggo Bond Company B.V. and any successors thereto pursuant to the Proceeds Loan Agreement immediately prior to the Ziggo Group Assumption. 

“Public Market” means any time after an Equity Offering has been consummated, shares of common stock or other common equity
interests of the IPO Entity having a market value in excess of €75 million on the date of such Equity Offering have been distributed pursuant to such Equity Offering. 

“Public Offering” means any offering, including an Initial Public Offering, of shares of common stock or other common equity
interests that are listed on an exchange or publicly offered (which shall include any offering pursuant to Rule 144A and/or Regulation S under the Securities Act to professional market investors or similar persons). 

“Public Offering Expenses” means expenses Incurred by any Parent in connection with any public offering of Capital Stock or
Indebtedness (whether or not successful): 
  

	 	(1)	where the net proceeds of such offering are intended to be received by or contributed or loaned to the Issuer, the Affiliate Issuer or a Restricted Subsidiary; or 

 

	 	(2)	in a prorated amount of such expenses in proportion to the amount of such net proceeds intended to be so received, contributed or loaned; or 

 

	 	(3)	otherwise on an interim basis prior to completion of such offering so long as any Parent shall cause the amount of such expenses to be repaid to the Issuer, the Affiliate Issuer or the relevant Restricted Subsidiary out
of the proceeds of such offering promptly if completed, 

  
 33 

 EXHIBIT H 
  

 in each case, to the extent such expenses are not paid by another Subsidiary of such Parent.

 “Purchase Money Note” means a promissory note of a Receivables Entity evidencing the deferred purchase price of
Receivables (and related assets) and/or a line of credit, which may be irrevocable, from the Issuer, the Affiliate Issuer or any Restricted Subsidiary in connection with a Qualified Receivables Transaction with a Receivables Entity, which deferred
purchase price or line is repayable from cash available to the Receivables Entity, other than amounts required to be established as reserves pursuant to agreements, amounts paid to investors in respect of interest, principal and other amounts owing
to such investors and amounts owing to such investors and amounts paid in connection with the purchase of newly generated Receivables. 

“Purchase Money Obligations” means any Indebtedness Incurred to finance or refinance the acquisition, leasing, construction
or improvement of property (real or personal) or assets (including Capital Stock), and whether acquired through the direct acquisition of such property or assets or the acquisition of the Capital Stock of any Person owning such property or assets,
or otherwise. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Qualified Receivables Transaction” means any transaction or series of transactions that may be entered into by the Issuer,
the Affiliate Issuer or any of the Restricted Subsidiaries pursuant to which the Issuer, the Affiliate Issuer or any of its Restricted Subsidiaries may sell, convey or otherwise transfer to (1) a Receivables Entity (in the case of a transfer by
the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries) and (2) any other Person (in the case of a transfer by a Receivables Entity), or may grant a Lien in, any Receivables (whether now existing or arising in the future) of the
Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such Receivables, all contracts and all guarantees or other obligations in respect of such
accounts receivable, the proceeds of such Receivables and other assets which are customarily transferred, or in respect of which Liens are customarily granted, in connection with asset securitization involving Receivables. 

“Receivable” means a right to receive payment arising from a sale or lease of goods or the performance of services by a
Person pursuant to an arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any items
of property that would be classified as an “account”, “chattel paper”, “payment intangible” or “instrument” under the Uniform Commercial Code as in effect in the State of New York and any “supporting
obligations” as so defined. 
 “Receivables Entity” means a Wholly Owned Subsidiary of the Issuer or the Affiliate
Issuer (or another Person in which the Issuer, the Affiliate Issuer or any Restricted Subsidiary makes an Investment and to which the Issuer, the Affiliate Issuer or any Restricted Subsidiary transfers Receivables and related assets) which engages
in no activities other than in connection with the financing of Receivables and which is designated by the Board of Directors of the Issuer (as provided below) as a Receivables Entity: 

 

	 	(1)	no portion of the Indebtedness or any other obligations (contingent or otherwise) of which: 

  

	 	(a)	is guaranteed by the Issuer, the Affiliate Issuer or any Restricted Subsidiary (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization
Undertakings); 

  
 34 

 EXHIBIT H 
  

	 	(b)	is recourse to or obligates the Issuer, the Affiliate Issuer or any Restricted Subsidiary in any way other than pursuant to Standard Securitization Undertakings; or 

 

	 	(c)	subjects any property or asset of the Issuer, the Affiliate Issuer or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard
Securitization Undertakings; 

  

	 	(2)	with which neither the Issuer, the Affiliate Issuer nor any Restricted Subsidiary has any material contract, agreement, arrangement or understanding (except in connection with a Purchase Money Note or Qualified
Receivables Transaction) other than on terms no less favorable to the Issuer, the Affiliate Issuer or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuer or the Affiliate
Issuer, other than fees payable in the ordinary course of business in connection with servicing Receivables; and 

  

	 	(3)	to which neither the Issuer, the Affiliate Issuer nor any Restricted Subsidiary has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of
operating results. 

 Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by
promptly filing with the Trustee a certified copy of the resolution of the Board of Directors of the Issuer, the Affiliate Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the
foregoing conditions. 
 “Redemption Date” means, when used with respect to any Note to be redeemed pursuant to this
Indenture, the date fixed for such redemption. 
 “Refinancing Indebtedness” means Indebtedness that is Incurred to refund,
refinance, replace, exchange, renew, repay or extend (including pursuant to any defeasance or discharge mechanism) (collectively, “refinance”, “refinances”, and “refinanced” shall have a correlative meaning) any
Indebtedness existing on the Issue Date or Incurred in compliance with this Indenture (including Indebtedness of the Issuer or the Affiliate Issuer that refinances Indebtedness of any Restricted Subsidiary and Indebtedness of any Restricted
Subsidiary that refinances Indebtedness of another Restricted Subsidiary) including Indebtedness that refinances Refinancing Indebtedness, including successive refinancings; provided, however, that: 

 

	 	(1)	if the Indebtedness being refinanced constitutes Subordinated Obligations, (a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity of the Indebtedness being refinanced is later than the Stated Maturity of the Notes, the Refinancing
Indebtedness has a Stated Maturity later than the Stated Maturity of the Notes; 

  

	 	(2)	 such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if issued with original issue discount, an aggregate issue price) that
is equal to or less than the sum of the aggregate principal amount (or if issued with original issue discount, the aggregate accreted value) then outstanding 

  
 35 

 EXHIBIT H 
  

	 	
of the Indebtedness being refinanced plus an amount to pay any interest, fees and expenses, premiums and defeasance costs, Incurred in connection therewith; and 

 

	 	(3)	if the Indebtedness being refinanced constitutes Subordinated Obligations, such Refinancing Indebtedness is subordinated in right of payment to the Notes on terms at least as favorable to the Holders of the Notes as
those contained in the documentation governing the Indebtedness being refinanced. 

 Refinancing Indebtedness in respect of
any Credit Facility or any other Indebtedness may be Incurred from time to time after the termination, discharge or repayment of all or any part of any such Credit Facility or other Indebtedness. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Dollar Regulation S Global Note or a Euro Regulation S Global Note. 

“Related Business” means any business that is the same as or related, ancillary or complementary to any of the businesses of
the Issuer, the Affiliate Issuer and the Restricted Subsidiaries on the Issue Date. 
 “Related Person” with respect to any
Permitted Holder, means: 
  

	 	(1)	any controlling equity Holder or majority (or more) owned Subsidiary of such Permitted Holder; or 

  

	 	(2)	in the case of an individual, any spouse, family member or relative of such individual, any trust or partnership for the benefit of one or more of such individual and any such spouse, family member or relative, or the
estate, executor, administrator, committee or beneficiaries of any thereof; or 

  

	 	(3)	any trust, corporation, partnership or other Person for which one or more of the Permitted Holders and other Related Persons of any thereof constitute the beneficiaries, stockholders, partners or owners thereof, or
Persons beneficially holding in the aggregate a majority (or more) controlling interest therein. 

 “Related
Taxes” means: 
  

	 	(1)	any taxes, including but not limited to sales, use, transfer, rental, ad valorem, value added, stamp, property, consumption, franchise, license, capital, registration, business, customs, net worth, gross receipts,
excise, occupancy, intangibles or similar taxes (other than (x) taxes measured by income and (y) withholding imposed on payments made by any Parent), required to be paid by any Parent by virtue of its: 

 

	 	(a)	being organized or incorporated or having Capital Stock outstanding (but not by virtue of owning stock or other equity interests of any corporation or other entity other than the Issuer, the Affiliate Issuer or any of
the Issuer’s or the Affiliate Issuer’s Subsidiaries), or 

  

	 	(b)	being a holding company parent of the Issuer, the Affiliate Issuer or any of the Issuer’s or the Affiliate Issuer’s Subsidiaries, or 

  
 36 

 EXHIBIT H 
  

	 	(c)	receiving dividends from or other distributions in respect of the Capital Stock of the Issuer or the Affiliate Issuer, or any of the Issuer’s or the Affiliate Issuer’s Subsidiaries, or 

 

	 	(d)	having guaranteed any obligations of the Issuer, the Affiliate Issuer or any Subsidiary of the Issuer or the Affiliate Issuer, or 

  

	 	(e)	having made any payment in respect to any of the items for which the Issuer or the Affiliate Issuer is permitted to make payments to any Parent pursuant to Section 4.07, 

in each case, to the extent such taxes are not paid by another Subsidiary or such Parent; and 

 

	 	(2)	any taxes measured by income for which any Parent is liable up to an amount not to exceed with respect to such taxes the amount of any such taxes that the Issuer, the Affiliate Issuer and their Subsidiaries would have
been required to pay on a separate company basis or on a consolidated basis if the Issuer, the Affiliate Issuer and their Subsidiaries had paid tax on a consolidated, combined, group, affiliated or unitary basis on behalf of an affiliated group
consisting only of the Issuer, the Affiliate Issuer and their Subsidiaries and any taxes imposed by way of withholding on payments made by one Parent to another Parent on any financing that is provided, directly or indirectly in relation to the
Issuer, the Affiliate Issuer and their Subsidiaries (reduced by any taxes measured by income actually paid by the Issuer, the Affiliate Issuer and their Subsidiaries). 

“Related Transaction” means (1) any transactions to effect or consummate the Reorganization Transactions, the Ziggo
Group Combination and/or the Ziggo Group Assumption, which may include the contribution of an Affiliate entity by a Parent (“Contributed Entity”) which Contributed Entity indirectly holds Share Capital in the Issuer or the Affiliate
Issuer, (2) any transaction to effect or consummate the Credit Facility Assumption, (3) intercompany indebtedness (A) by the Issuer, the Affiliate Issuer, the Contributed Entity or a Restricted Subsidiary to an Affiliate or
(B) by an Affiliate to the Issuer, the Affiliate Issuer, the Contributed Entity or a Restricted Subsidiary, in each case, to effect or consummate the Ziggo Group Combination and/or the Ziggo Group Assumption, (4) the Post-Closing
Reorganization and (5) payment of fees, costs and expenses in connection with the Ziggo Group Combination and/or the Ziggo Group Assumption and/or Credit Facility Assumption and the Post-Closing Reorganization. 

“Reporting Entity” refers to (i) Ziggo Group Holding B.V., (ii) following the accession of any Affiliate
Subsidiary, Ziggo Group Holding B.V. or a common Parent of the Issuer, the Affiliate Issuer and the Affiliate Subsidiary, or (iii) following an Affiliate Issuer Accession, a common Parent of the Issuer and the Affiliate Issuer. 

“Representative” means any trustee, agent or representative (if any) for an issue of Senior Indebtedness or the provider of
Senior Indebtedness (if provided on a bilateral basis), as the case may be. 
 “Responsible Officer,” when used with
respect to the Trustee, means any officer within the Corporate Trust Administration of the Trustee (or any successor group of the Trustee) including any vice president, assistant vice president, assistant treasurer, or any other officer of the
Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his
knowledge of and familiarity with the particular subject. 

  
 37 

 EXHIBIT H 
  

 “Restricted Definitive Note” means a Definitive Note bearing the Private
Placement Legend. 
 “Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

“Restricted Investment” means any Investment other than a Permitted Investment. 

“Restricted Period” means the 40-day distribution compliance period as defined in
Regulation S. 
 “Restricted Subsidiary” means any Subsidiary of the Issuer or the Affiliate Issuer together with any
Affiliate Subsidiaries other than an Unrestricted Subsidiary. 
 “Revolving Facility Excluded Amount” means the greater of
(1) €400 million (or its equivalent in other currencies) and (2) 0.25 multiplied by the Pro Forma EBITDA of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries on a Consolidated basis for the period of the most recent two
consecutive fiscal quarters for which financial statements have previously been furnished to the Holders of the Notes pursuant to Section 4.03, multiplied by 2.0. 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the United States Securities Act of 1933, as amended. 

“Security Agent” means Deutsche Trustee Company Limited and any successor or replacement Security Agent, acting in such
capacity. 
 “Senior Facility Agreement” means the senior facility agreement dated January 27, 2014 between, among
others, Amsterdamse Beheer- en Consultingmaatschappij B.V., certain subsidiaries of Amsterdamse Beheer- en Consultingmaatschappij B.V. and certain financial institutions as lenders thereunder, as amended or supplemented from time to time. 

“Senior Indebtedness” means, whether outstanding on the Issue Date or thereafter Incurred, all amounts payable by, under or
in respect of all other Indebtedness of the Issuer, the Affiliate Issuer or any Restricted Subsidiary, including premiums and accrued and unpaid interest (including interest accruing on or after the filing of any petition in bankruptcy or for
reorganization relating to the Issuer, the Affiliate Issuer or any Restricted Subsidiary at the rate specified in the documentation with respect thereto whether or not a claim for post filing interest is allowed in such proceeding) and fees relating
thereto; provided, however, that Senior Indebtedness will not include: 
  

	 	(1)	any Indebtedness Incurred in violation of this Indenture; 

  

	 	(2)	any obligation of the Issuer or the Affiliate Issuer to any Restricted Subsidiary; 

  
 38 

 EXHIBIT H 
  

	 	(3)	any liability for taxes owed or owing by the Issuer, the Affiliate Issuer or any Restricted Subsidiary; 

  

	 	(4)	any accounts payable or other liability to trade creditors arising in the ordinary course of business (including guarantees thereof or instruments evidencing such liabilities); 

 

	 	(5)	any Indebtedness, guarantee or obligation of the Issuer or the Affiliate Issuer that is expressly subordinate or junior in right of payment to any other Indebtedness, guarantee or obligation of the Issuer or the
Affiliate Issuer, including, without limitation, any Subordinated Obligation; or 

  

	 	(6)	any Capital Stock. 

 “Senior Secured Priority Agreement” means the priority
agreement dated January 12, 2006 (as amended and restated on October 6, 2006, November 17, 2006, March 28, 2013 and November 14, 2014) between, among others, Amsterdamse Beheer- en Consultingmaatschappij B.V.,
certain guarantors party thereto and ING Bank N.V., as security agent, as previously amended and as may be further amended and in effect from time to time. 

“Significant Subsidiary” means any Restricted Subsidiary which, together with the Restricted Subsidiaries of such Restricted
Subsidiary, accounted for more than 10% of Total Assets as of the end of the most recently completed fiscal year. 
 “Specified
Legal Expenses” means, to the extent not constituting an extraordinary, non-recurring or unusual loss, charge or expense, all attorneys’ and experts’ fees and expenses and all other costs,
liabilities (including all damages, penalties, fines and indemnification and settlement payments) and expenses paid or payable in connection with any threatened, pending, completed or future claim, demand, action, suit, proceeding, inquiry or
investigation (whether civil, criminal, administrative, governmental or investigative). 
 “Spin-Off” means a transaction
by which all outstanding ordinary shares of the Parent Company or a Parent of the Parent Company directly or indirectly owned by Liberty Global are distributed to all of Liberty Global’s shareholders either directly or indirectly through the
distribution of shares in a company holding the Parent Issuer’s shares or such Parent’s shares. 
 “Spin Parent”
means the company the shares of which are distributed to the shareholders of Liberty Global pursuant to the Spin-Off. 
 “Standard
Securitization Undertakings” means representations, warranties, covenants and indemnities entered into by the Issuer, the Affiliate Issuer or any Restricted Subsidiary which are reasonably customary in securitization of Receivables
transactions. 
 “Stated Maturity” means, with respect to any security, the date specified in such security as the fixed
date on which the payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such principal prior to the
date originally scheduled for the payment thereof. 
 “Subordinated Obligation” means in the case of the Issuer, any
Indebtedness that is expressly subordinate or junior in right of payment to the Notes pursuant to a written agreement and, in the case of a Note Guarantor, any Indebtedness that is expressly subordinate or junior in right of payment to the Note
Guarantee of such Note Guarantor pursuant to a written agreement. 

  
 39 

 EXHIBIT H 
  

 “Subordinated Shareholder Loans” means Indebtedness of the Issuer or the
Affiliate Issuer (and any security into which such Indebtedness, other than Capital Stock, is convertible or for which it is exchangeable at the option of the Holder) issued to and held by any Affiliate (other than a Restricted Subsidiary) that
(either pursuant to its terms or pursuant to an agreement with respect thereto): 
  

	 	(1)	does not mature or require any amortization, redemption or other repayment of principal or any sinking fund payment prior to the first anniversary of the Stated Maturity of the Notes (other than through conversion or
exchange of such Indebtedness into Capital Stock (other than Disqualified Stock) of the Issuer or the Affiliate Issuer, as applicable, or any Indebtedness meeting the requirements of this definition); 

 

	 	(2)	does not require, prior to the first anniversary of the Stated Maturity of the Notes, payment of cash interest, cash withholding amounts or other cash gross-ups, or any similar cash amounts; 

 

	 	(3)	contains no change of control or similar provisions that are effective, and does not accelerate and has no right to declare a default or event of default or take any enforcement action or otherwise require any cash
payment prior to the first anniversary of the Stated Maturity or the Notes; 

  

	 	(4)	does not provide for or require any Lien or encumbrance over any asset of the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries; 

 

	 	(5)	is subordinated in right of payment to the prior payment in full of the Notes or the Note Guarantee, as applicable, in the event of (a) a total or partial liquidation, dissolution or winding up of the Issuer or the
Affiliate Issuer, as applicable, (b) a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Issuer or its property or the Affiliate Issuer or its property, as applicable, (c) an assignment for the
benefit of creditors or (d) any marshalling of the assets and liabilities of the Issuer or the Affiliate Issuer, as applicable; 

  

	 	(6)	under which the Issuer or the Affiliate Issuer, as applicable, may not make any payment or distribution of any kind or character with respect to any obligations on, or relating to, such Subordinated Shareholder Loans if
(a) a payment Default on the Notes occurs and is continuing or (b) any other Default under this Indenture occurs and is continuing on the Notes that permits the Holders of the Notes to accelerate their maturity and the Issuer receives
notice of such Default from the requisite Holders of the Notes, until in each case the earliest of (i) the date on which such Default is cured or waived or (ii) 180 days from the date such Default occurs (and only once such notice may be
given during any 360 day period); and 

  

	 	(7)	under which, if the Holder of such Subordinated Shareholder Loans receives a payment or distribution with respect to such Subordinated Shareholder Loan (a) other than in accordance with this Indenture or as a
result of a mandatory requirement of applicable law or (b) under circumstances described under clauses (5)(a) through (d) above, such Holder will forthwith pay all such amounts to the Trustee to be held in trust for application in
accordance with this Indenture. 

  
 40 

 EXHIBIT H 
  

 “Subsidiary” of any Person means (a) any corporation, association or
other business entity (other than a partnership, joint venture, limited liability company or similar entity) of which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers or trustees thereof (or Persons performing similar functions) or (b) any partnership, joint venture limited liability company or similar entity of which more than 50% of the capital
accounts, distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or indirectly, by (1) such
Person, (2) such Person and one or more Subsidiaries of such Person or (3) one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a Subsidiary will refer to a Subsidiary of the Issuer or the Affiliate
Issuer. 
 “Total Assets” means the Consolidated total assets of the Issuer, the Affiliate Issuer and the Restricted
Subsidiaries as shown on the most recent balance sheet (excluding the footnotes thereto) of the Reporting Entity (and, in the case of any determination relating to any Incurrence of Indebtedness or any Restricted Payment, on a pro forma basis
including any property or assets being acquired in connection therewith). 
 “Trade Payables” means, with respect to any
Person, any accounts payable or any Indebtedness or monetary obligation to trade creditors created, assumed or guaranteed by such Person arising in the ordinary course of business in connection with the acquisition of goods or services. 

“Treasury Rate” means the yield to maturity at the time of computation of U.S. Treasury securities with a constant maturity
(as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available on a day no earlier than two Business Days prior to the date of the delivery of the redemption notice in respect of
such Redemption Date (or, if such statistical release is not so published or available, any publicly available source of similar market date selected by the Issuer in good faith)) most nearly equal to the period from the Redemption Date to
January 15, 2020; provided, however, that if the period from the Redemption Date to January 15, 2020 is not equal to the constant maturity of a U.S. Treasury security for which a weekly average yield is given, the Treasury Rate shall be
obtained by a linear interpolation (calculated to the nearest one twelfth of a year) from the weekly average yields of U.S. Treasury securities for which such yields are given, except that if the period from the Redemption Date to January 15,
2020 is less than one year, the weekly average yield on actually traded U.S. Treasury securities adjusted to a constant maturity of one year shall be used. 

“Trustee” means Deutsche Trustee Company Limited, until a successor replaces it in accordance with the applicable provisions
of this Indenture and thereafter means the successor serving hereunder. 
 “Unrestricted Global Note” means a Global Note
that does not bear and is not required to bear the Private Placement Legend. 
 “Unrestricted Subsidiary” means: 

 

	 	(1)	any Subsidiary of the Issuer or the Affiliate Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors of the Issuer in the manner provided below; and

  

	 	(2)	any Subsidiary of an Unrestricted Subsidiary. 

  
 41 

 EXHIBIT H 
  

 The Board of Directors of the Issuer or the Affiliate Issuer may designate any Subsidiary of
the Issuer or the Affiliate Issuer (including any newly acquired or newly formed Subsidiary or a Person becoming a Subsidiary through merger or consolidation or Investment therein) to be an Unrestricted Subsidiary only if: 

 

	 	(a)	such Subsidiary or any of its Subsidiaries does not own any Capital Stock or Indebtedness of or have any Investment in, or own or hold any Lien on any property of, any other Subsidiary of the Issuer or the Affiliate
Issuer which is not a Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary; and 

  

	 	(b)	such designation and the Investment of the Issuer or the Affiliate Issuer in such Subsidiary complies with Section 4.07. 

Any such designation by the Board of Directors of the Issuer or the Affiliate Issuer shall be evidenced to the Trustee by promptly filing with
the Trustee a resolution of the Board of Directors of the Issuer or the Affiliate Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complies with the foregoing conditions. If, at any time,
any Unrestricted Subsidiary would fail to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary shall be
deemed to be Incurred as of such date. 
 The Board of Directors of the Issuer or the Affiliate Issuer may designate any Unrestricted
Subsidiary to be a Restricted Subsidiary; provided that immediately after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof and either (1) the
Issuer, the Affiliate Issuer and the Restricted Subsidiaries could Incur at least €1.00 of additional Pari Passu Indebtedness under Section 4.09(a) or (2) the Consolidated Net Leverage Ratio would be no greater than it was immediately
prior to giving effect to such designation, in each case, on a pro forma basis taking into account such designation. 
 “U.S.
Government Obligations” means direct obligations of, or obligations guaranteed by, the United States of America, and the payment for which the United States pledges its full faith and credit. 

“U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities Act. 

“Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote
in the election of directors. 
 “Wholly Owned Subsidiary” means (1) in respect of any Person, a Person, all of the
Capital Stock of which (other than directors’ qualifying shares or an immaterial amount of shares required to be owned by other Persons pursuant to applicable law or regulation or to ensure limited liability) is owned by that Person directly or
(2) indirectly by a Person that satisfies the requirements of clause (1). 
 “Written Instructions” means any written
notices, directions or instructions (including for the avoidance of doubt by Electronic Means) received by the Agents from an Authorized Person or from a person reasonably believed by the Agents to be an Authorized Person. 

“Ziggo Group Assumption” means the assumption by the Issuer of the obligations of the Old Issuer under the Notes and this
Indenture. 

  
 42 

 EXHIBIT H 
  

 “Ziggo Group Assumption Date” means the date the Ziggo Group Assumption is
consummated. 
 “Ziggo Group Combination” means the series of transactions whereby (i) Ziggo Bond Company B.V. and its
Subsidiaries are combined with UPC Nederland Holding I B.V. and its Subsidiaries through one or more mergers, consolidations, contributions or similar transactions or (ii) the special purpose financing company structure whereby the Old Issuer
issued the Notes and funded proceeds loans is terminated and the Proceeds Loan Obligors and their Subsidiaries assume or otherwise acquire all of the outstanding Indebtedness of the Old Issuer and its Subsidiaries through the assumption, assignment
or other transfer of such Indebtedness or the acquisition or other transfer of the Old Issuer and/or any of its Subsidiaries to the Proceeds Loan Obligors. 

“Ziggo Group Combination Date” means the date the Ziggo Group Combination is consummated. 

Section 1.02 Other Definitions. 
  

			
	 Term
	  	 Defined in
Section

		
	 “Additional Amounts”
	  	4.19
	 “Additional Priority Agreement”
	  	4.22
	 “Affiliate Issuer”
	  	10.02
	 “Affiliate Issuer Accession”
	  	10.02
	 “Affiliate Issuer Guarantee”
	  	10.02
	 “Affiliate Transaction”
	  	4.11
	 “Asset Disposition Offer”
	  	3.11
	 “Asset Disposition Offer Amount”
	  	3.11
	 “Asset Disposition Offer Period”
	  	3.11
	 “Asset Disposition Purchase Date”
	  	3.11
	 “Authentication Order”
	  	2.02
	 “Change in Tax Law”
	  	3.09
	 “Change of Control Offer”
	  	4.14
	 “Change of Control Purchase Price”
	  	4.14
	 “Change of Control Purchase Date”
	  	4.14
	 “Covenant Defeasance”
	  	8.03
	 “cross acceleration provision”
	  	6.01
	 “Dollar Paying Agent”
	  	2.03
	 “Euro Paying Agent”
	  	2.03
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.10
	 “Initial Reporting Standard”
	  	4.03
	 “Instructing Group Consent”
	  	9.03
	 “Investment Grade Status Period”
	  	4.20
	 “Legal Defeasance”
	  	8.02
	 “Other Asset Disposition Indebtedness”
	  	3.11
	 “New Reporting Standard”
	  	4.03
	 “Note Guarantee”
	  	4.24
	 “Note Guarantors”
	  	4.24
	 “Paying Agent”
	  	2.03
	 “payment default”
	  	6.01
	 “Payor”
	  	4.19
	 “Principal Obligations”
	  	7.12
	 “Register”
	  	2.03

  
 43 

 EXHIBIT H 
  

			
	 Term
	  	 Defined in
Section

		
	 “Registered Agent”
	  	12.09
	 “Registrar”
	  	2.03
	 “Regular Record Date”
	  	2.04
	 “Reinstatement Date”
	  	4.19
	 “Release”
	  	3.08
	 “Relevant Taxing Jurisdiction”
	  	4.19
	 “Restricted Payments”
	  	4.07
	 “Successor Company”
	  	5.01
	 “Taxes”
	  	4.19
	 “Tax Redemption Date”
	  	3.09

 Section 1.03 Rules of Construction 

Unless the context otherwise requires: 
  

	 	(1)	a term has the meaning assigned to it; 

  

	 	(2)	an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS; 

  

	 	(3)	“or” is not exclusive; 

  

	 	(4)	words in the singular include the plural, and in the plural include the singular; 

  

	 	(5)	“will” shall be interpreted to express a command; 

  

	 	(6)	provisions apply to successive events and transactions; and 

  

	 	(7)	references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of successor sections or rules adopted by the SEC from time to time. 

ARTICLE 2. 
 THE NOTES 

Section 2.01 Form and Dating 
 (a)
Global Notes. Dollar Notes offered and sold in reliance on Rule 144A shall be issued initially in the form of one or more Dollar 144A Global Notes, duly executed by the Issuer, and authenticated by the Trustee or its Authenticating Agent as
hereinafter provided. Dollar Notes offered and sold in reliance on Regulation S shall be issued initially in the form of one or more Dollar Regulation S Global Notes, duly executed by the Issuer and authenticated by the Trustee or its Authenticating
Agent as hereinafter provided. Euro Notes offered and sold in reliance on Rule 144A shall be issued initially in the form of one or more Euro 144A Global Notes, duly executed by the Issuer, and authenticated by the Trustee or its Authenticating
Agent as hereinafter provided. Euro Notes offered and sold in reliance on Regulation S shall be issued initially in the form of one or more Euro Regulation S Global Notes, duly executed by the Issuer and authenticated by the Trustee or its
Authenticating Agent as hereinafter provided. Each Global Note shall represent such aggregate principal amount of the outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of
outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby shall from time to time be reduced or increased, as appropriate, by the Registrar, the relevant Paying Agent or the
Trustee to reflect exchanges, repurchases, redemptions and transfers of interests therein, in accordance with the terms of this Indenture. 

  
 44 

 EXHIBIT H 
  

 The terms and provisions contained in the Notes will constitute, and are hereby expressly
made, a part of this Indenture and the Issuer and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with
the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 
 Ownership of interests in the
Global Notes will be limited to Participants and Indirect Participants. Book-Entry Interests in the Global Notes will be shown on, and transfers thereof will be effected only through, records maintained in book-entry form by the Depositary, the Common Depositary, Euroclear or Clearstream and their respective Participants. The Applicable Procedures shall be applicable to
Book-Entry Interests in Global Notes. 
 Except as set forth in Section 2.07(a), the Global
Notes may be transferred, in whole and not in part, only to a nominee or a successor of the Depositary, Euroclear or Clearstream, as applicable. 

(b) Definitive Registered Notes. Definitive Registered Notes issued upon transfer of a
Book-Entry Interest or a Definitive Registered Note, or in exchange for a Book-Entry Interest or a Definitive Registered Note, shall be issued in accordance with this
Indenture. 
 (c) Book-Entry Provisions. Neither Participants nor Indirect Participants shall
have any rights either under this Indenture or under any Global Note held on their behalf by the Depositary, Euroclear or Clearstream. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any Agent from giving
effect to any written certification, proxy or other authorization furnished by the Depositary, Euroclear or Clearstream or impair, as between the Depositary, Euroclear or Clearstream and their respective Participants, the operation of customary
practices of the Depositary, Euroclear or Clearstream governing the exercise of the rights of an owner of a beneficial interest in any Global Note. 

(d) Note Forms. The Global Notes and the Definitive Registered Notes shall be issuable only in registered form, substantially in the
forms set forth as Exhibit A and Exhibit B hereto, respectively. The Euro Notes shall be issued without coupons and only in denominations of at least €100,000 and in integral multiples of €1,000 in excess thereof. The Dollar
Notes shall be issued without coupons and only in denominations of at least $200,000 and in integral multiples of $1,000 in excess thereof. 

(e) Additional Notes. Subject to the restrictions contained in Section 4.09, from time to time after the Issue Date the Issuer may
issue Additional Notes under this Indenture. Any Additional Notes issued as provided for herein will be treated as a single class and as part of the same series as the Initial Notes for all purposes (including voting) under this Indenture. 

(f) Dating. Each Note shall be dated the date of its authentication. 

Section 2.02 Execution and Authentication 

At least one Officer of each Issuer must sign the Notes for such Issuer by manual or facsimile signature. 

  
 45 

 EXHIBIT H 
  

 If an Officer whose signature is on a Note no longer holds that office at the time a Note is
authenticated or at any time thereafter, the Note will nevertheless be valid. 
 A Note will not be valid until authenticated by the manual
signature of the Authenticating Agent. The signature will be conclusive evidence that the Note has been authenticated under this Indenture. 

Upon receipt of an authentication order signed by at least one Officer of the Issuer directing the Authenticating Agent to authenticate the
Notes and certifying that all conditions precedent to the issuance of the Notes contained herein have been complied with (an “Authentication Order”), the Authenticating Agent shall authenticate any Notes. The Authenticating Agent
shall authenticate Additional Notes upon receipt of an Authentication Order relating thereto. Each Note shall be dated the date of its authentication. 

The Trustee may authenticate Notes as the Issuer’s Authenticating Agent. The Trustee may appoint an additional Authenticating Agent or
Agents acceptable to the Issuer to authenticate Notes. Unless limited by the terms of such appointment, an Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee
includes authentication by such Authenticating Agent. Such Authenticating Agent shall have the same rights as the Trustee in any dealings hereunder with any of the Issuer’s Affiliates. 

Notes authenticated by an Authenticating Agent shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all
purposes as if authenticated hereunder by the Trustee, and every reference in this Indenture to the authentication and delivery of Notes by the Trustee or the Trustee’s certificate of authentication shall be deemed to include authentication and
delivery on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be subject to acceptance by the Issuer and shall at all times be a corporation organized and doing business under, or licensed to do business pursuant to,
the laws of the United States of America (including any State thereof or the District of Columbia) or a jurisdiction in the European Union and authorized under such laws to act as Authenticating Agent, subject to supervision or examination by
governmental authorities, if applicable. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 2.02, such Authenticating Agent shall resign immediately in the manner and with the
effect specified in this Section 2.02. 
 Any corporation into which an Authenticating Agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation resulting from any merger, conversion or consolidation to which such
Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent; provided that such
corporation shall be otherwise eligible under this Section 2.02, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent may resign at any time by giving written notice of resignation to the Trustee and the Issuer. Each of the Trustee and
the Issuer may at any time terminate the agency of an Authenticating Agent by giving written notice of the termination to that Authenticating Agent and the Issuer or the Trustee, as the case may be. Upon receiving such a notice of resignation or
upon such a termination, or in case at any time any Authenticating Agent ceases to be eligible in accordance with the provisions of this Section 2.02, the Trustee may appoint a successor Authenticating Agent acceptable to the Issuer. Any
successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all of the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No
successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 2.02. 

  
 46 

 EXHIBIT H 
  

 The Issuer agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section 2.02. 
 If an Authenticating Agent is appointed with respect to the Notes pursuant to
this Section 2.02, the Notes may have endorsed thereon, in addition to or in lieu of the Trustee’s certification of authentication, an alternative certificate of authentication in the following form: 

“This is one of the Notes referred to in the within-mentioned Indenture. 

 

			
	[NAME OF AUTHENTICATING AGENT],
	as Authenticating Agent
		
	By:	 	  

		 	Authorized Signatory”

 Section 2.03 Registrar and Paying Agent 

The Issuer will maintain one or more paying agents (each, a “Paying Agent”) for the Notes in each of (a) London, England
for the Euro Notes (the “Euro Paying Agent”) and (b) the Borough of Manhattan, City of New York for the Dollar Notes (the “Dollar Paying Agent”). If, after the Issue Date, the relevant Paying Agent becomes
obliged to withhold or deduct tax in connection with any payment made by it in relation to the Notes, the Issuer will also maintain such office or agency in another member state of the European Union (including any country which becomes a member
state of the European Union after the Issue Date) that is not obliged to withhold or deduct tax pursuant to European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the European Council of Economics and Finance
Ministers (“ECOFIN”) meeting of November 26-27, 2000 or any law implementing or complying with, or introduced in order to conform to, such Directive. 

The Issuer will also maintain one or more registrars (each, a “Registrar”). The Issuer will also maintain a transfer agent.
The initial Registrar for the Euro Notes will be Deutsche Bank Luxembourg S.A. in Luxembourg and the initial Registrar for the Dollar Notes will be Deutsche Bank Trust Company Americas. Each Registrar will maintain a register for the Dollar Notes
and the Euro Notes, respectively (the “Register”) on behalf of the Issuer for so long as the Notes remain outstanding reflecting ownership of Definitive Registered Notes outstanding from time to time; the Paying Agents will make
payments on behalf of the Issuer and the transfer agent will facilitate transfer of Notes on behalf of the Issuer. In the event that the Notes are no longer listed, the Issuer or its agent will maintain a register reflecting ownership of the Notes.

 The parties hereto acknowledge that the Issuer has appointed Deutsche Bank AG, London Branch, at Winchester House, 1 Great Winchester
Street, London EC2N 2DB, United Kingdom, as the Euro Paying Agent. The Issuer acknowledges that Deutsche Bank AG, London Branch has accepted such appointment. The parties hereto acknowledge that the Issuer has appointed Deutsche Bank Trust Company
Americas, at 60 Wall Street- 16th Floor, New York NY 10005, as Dollar Notes Paying Agent, Registrar and Transfer Agent. The Issuer acknowledges that Deutsche Bank Trust Company Americas has accepted such appointment. In addition, the Issuer has
appointed Deutsche Bank Luxembourg, S.A., at 2 Boulevard Konrad Adenauer, L-115 Luxembourg, as Euro Notes Registrar and Transfer Agent and acknowledge that Deutsche Bank Luxembourg S.A. has accepted such appointment. So long as Deutsche Bank AG,
London Branch, Deutsche Bank Trust Company Americas and Deutsche Bank Luxembourg S.A. serve in such capacities, Section 7.07 shall apply to them as if they were Trustee hereunder. 

  
 47 

 EXHIBIT H 
  

 The Issuer may appoint one or more additional Paying Agents and the term “Paying
Agent” shall include any such additional Paying Agent, as applicable. Upon notice to the Trustee, the Issuer may change any Paying Agent, Registrar or transfer agent and the Issuer may act as the Paying Agent; provided, however, that
in no event may an Issuer act as Paying Agent or appoint a Paying Agent in any member state of the European Union where the Paying Agent would be obliged to withhold or deduct tax in connection with any payment made by it in relation to the Notes
unless the Paying Agent would be so obliged if it were located in all other member states. 
 The Issuer shall notify the Trustee of the
name and address of any Agent appointed after the Issue Date. 
 Any Notice to be given under this Indenture or under the Notes by the
Trustee or the Issuer to the Holders shall be mailed by first-class mail to each Holder of Notes at their address as it appears at the time of such mailing in the Register. 

Section 2.04 Holders to Be Treated as Owners; Payments of Interest 

(e) Except as otherwise ordered by a court of competent jurisdiction or required by applicable law, the Issuer, the Paying Agents, the
Registrar, the Trustee and any agent of the Issuer, any Paying Agent, the Registrar or the Trustee shall deem and treat the Holder of a Note as the absolute owner of such Note for the purpose of receiving payment of or on account of the principal,
premium or interest on such Note and for all other purposes (including voting and consents and enforcement of the Notes Collateral Documents); and neither the Issuer, any Paying Agent, the Registrar, the Trustee nor any agent of the Issuer, any
Paying Agent, the Registrar or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effective to satisfy and
discharge the liability for moneys payable upon any Note. 
 (f) Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the
Trustee or the Agents from giving effect to any written certification, proxy or other authorization furnished by the Depositary, Euroclear or Clearstream or impair, as between the Depositary, Euroclear or Clearstream or their respective nominees,
the Participants or any other person, the operation of customary practices of such persons governing the exercise of the rights of a Holder. 

(g) A Holder of a Note at the close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to
receive the interest payable on such Interest Payment Date notwithstanding any transfer or exchange of such Note subsequent to the Regular Record Date and prior to such Interest Payment Date, except if and to the extent the Issuer shall default in
the payment of the interest due on such Interest Payment Date, in which case such defaulted interest shall be paid in accordance with Section 2.13. The term “Regular Record Date” as used with respect to any Interest Payment
Date for the Notes shall mean the date specified as such in the Notes. 
 (h) The Issuer shall on the Business Day prior to the day on which
the Paying Agent is to make a payment, procure that the bank effecting payment for it confirms by fax or tested SWIFT MT100 message to the Paying Agent the payment instructions relating to such payment. For the avoidance of doubt, the Paying Agent
and the Trustee shall be held harmless and have no liability with respect to payments or disbursements to be made by the Paying Agent and Trustee (i) for which payment instructions are not made or that are not otherwise deposited by the
respective times set forth in this Article 2; and (ii) until they have confirmed receipt of funds sufficient to make the relevant payment. 

  
 48 

 EXHIBIT H 
  

 Section 2.05 Paying Agent to Hold Money 

Each Paying Agent shall hold for the benefit of the Holders or the Trustee all money received by the Paying Agent for the payment of principal,
premium, interest or Additional Amounts on the Notes (whether such money has been paid to it by the Issuer or any other obligor on the Notes), and the Issuer and the Paying Agent shall notify the Trustee of any Default by the Issuer (or any other
obligor on the Notes) in making any such payment. For the avoidance of doubt, each Paying Agent acts as agent and not trustee under this Indenture. Money held by a Paying Agent need not be segregated (other than when an Issuer acts as a Paying
Agent), except as required by law, and in no event shall any Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at any time may require each Paying Agent to pay all money held by it to the Trustee and account
for any funds disbursed, and the Trustee may, if such a Default has occurred and is continuing, require any Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, the
relevant Paying Agent shall have no further liability for the money delivered to the Trustee. 
 Section 2.06 Holder Lists 

The Registrar will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of all Holders. If the Trustee is not the Registrar and the Registrar maintains such a list on behalf of the Issuer, the Issuer will furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such other times as the
Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders. 

Section 2.07 Transfer and Exchange 

(a) Transfer and Exchange of Global Notes. 

(1) A Dollar Global Note may not be transferred except as a whole by the Depositary to a nominee of the Depositary, by a
nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 

(2) A Euro Global Note may not be transferred except as a whole by a Common Depositary or a nominee of such Common Depositary,
by a Common Depositary or a nominee of such Common Depositary to such Common Depositary or to another nominee or Common Depositary or any such nominee to a successor of a Common Depositary or a nominee thereof. 

(3) All Dollar Global Notes and Euro Global Notes, respectively, will be exchanged by the Issuer for Dollar Definitive
Registered Notes and Euro Definitive Registered Notes, respectively: 
 (A) if the Depositary, in respect of the Dollar
Global Notes, or the Common Depositary, in respect of the Euro Global Notes, notifies the Issuer that it is unwilling or unable to continue to act as depositary and a successor depositary is not appointed within 120 days; 

(B) in whole, but not in part, if the Issuer or the Depositary, in respect of the Dollar Global Notes, and/or Euroclear or
Clearstream, in respect of the Euro Global Notes, so request following an Event of Default; or 
 (C) if the Holder of a
Book-Entry Interest requests such exchange in writing delivered through the Depositary, in respect of the Dollar Global Notes, or through Euroclear and/or Clearstream, in respect of the Euro Global Notes, following an Event of Default. 

  
 49 

 EXHIBIT H 
  

 Upon the occurrence of any of the preceding events in clauses (A) through (C) above, the Issuer
shall issue or cause to be issued Definitive Registered Notes in such names as the Depositary, Euroclear and/or Clearstream, as applicable, shall instruct the Trustee and such transfer or exchange shall be recorded in the applicable Register. 

(4) Global Notes may also be exchanged or replaced, in whole or in part, as provided in Section 2.08 and
Section 2.11. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to Section 2.08 or Section 2.11, shall be authenticated and delivered in the form of, and shall be, a
Global Note. A Global Note may not be exchanged for another Note (including a Definitive Registered Note), other than as provided in this Section 2.07(a). 

(b) General Provisions Applicable to Transfers and Exchanges of the Notes. Dollar Book-Entry Interests cannot be exchanged for, or
transferred to Persons who take delivery thereof in the form of, Euro Book-Entry Interests or Euro Definitive Registered Notes. Euro Book-Entry Interests cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of,
Dollar Book-Entry Interests or Dollar Definitive Registered Notes. In all other cases, the transfer and exchange of Book-Entry Interests shall be effected through the Depositary, Euroclear or Clearstream in accordance with the provisions of this
Indenture and the Applicable Procedures. Transfers of Book-Entry Interests in the Global Notes (other than transfers of Book-Entry Interests in connection with which the
transferor takes delivery thereof in the form of a Book-Entry Interest in the same Global Note) shall require compliance with this Section 2.07(b), as well as one or more of the other following
subparagraphs of this Section 2.07, as applicable. 
 In connection with all transfers and exchanges of
Book-Entry Interests (other than transfers of Book-Entry Interests in connection with which the transferor takes delivery thereof in the form of a Book-Entry Interest in the same Global Note), the Trustee and the relevant Paying Agent must receive: (i) a written order from a Participant or an Indirect Participant given to the Depositary, Euroclear or
Clearstream in accordance with the Applicable Procedures directing the Depositary, Euroclear or Clearstream to debit from the transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a written order from a Participant or an Indirect Participant given to the Depositary, Euroclear or Clearstream in accordance with the Applicable
Procedures directing the Depositary, Euroclear or Clearstream to credit or cause to be credited a Book-Entry Interest in another Global Note in an amount equal to the
Book-Entry Interest to be transferred or exchanged; and (iii) instructions given in accordance with the Applicable Procedures containing information regarding the Participants’ accounts to be debited
with such decrease and credited with such increase, as applicable. 
 In connection with a transfer or exchange of a Book-Entry Interest for a Definitive Registered Note, the relevant Paying Agent and the Registrar must receive: (i) a written order from a Participant or an Indirect Participant given to the Depositary,
Euroclear or Clearstream in accordance with the Applicable Procedures directing the Depositary, Euroclear or Clearstream to debit from the transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a written order from a Participant directing the Depositary, Euroclear or Clearstream to cause to be issued a Definitive Registered Note in an amount
equal to the Book-Entry Interest to be transferred or exchanged; and (iii) instructions given by the Depositary, Euroclear or Clearstream to the Registrar containing information regarding the Person in
whose name such Definitive Registered Note shall be registered to effect the transfer or exchange referred to above. 

  
 50 

 EXHIBIT H 
  

 In connection with any transfer or exchange of Definitive Registered Notes, the Holder of
such Notes shall present or surrender to the Registrar the Definitive Registered Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly
authorized in writing. In addition, in connection with a transfer or exchange of a Definitive Registered Note for a Book-Entry Interest, the Trustee and the relevant Paying Agent must receive (i) a
written order directing the Depositary Euroclear or Clearstream to credit the account of the transferee in an amount equal to the Book-Entry Interest to be transferred or exchanged and (ii) instructions
given in accordance with the Applicable Procedures containing information regarding the Participant’s account to be credited with such increase. 

Upon satisfaction of all of the requirements for transfer or exchange of Book-Entry Interests in
Global Notes contained in this Indenture, the relevant Paying Agent, the Registrar or the Trustee as specified in this Section 2.07, shall endorse the relevant Global Note(s) with any increase or decrease and instruct the Depositary, Euroclear
or Clearstream to reflect such increase or decrease in its systems. 
 (c) Transfer of Book-Entry
Interests in a Regulation S Global Note to Book-Entry Interests in a 144A Global Note. A Book-Entry Interest in a Regulation S Global Note may be transferred to a
Person who takes delivery thereof in the form of a Book-Entry Interest in a 144A Global Note, only if the transfer complies with the requirements of Section 2.07(b) above and the Registrar receives a
certificate to the effect set forth in Exhibit C hereto, including the certification in item (1) thereof. 
 Upon the receipt of such
certificate and the orders and instructions required by Section 2.07(b), the Trustee shall (i) instruct the Common Depositary or the Depositary to decrease Schedule A to such Regulation S Global Note and increase Schedule A
to such 144A Global Note by the principal amount of such transfer, and (ii) instruct the Common Depositary or Depositary, as applicable, to credit and debit the Participants’ accounts in accordance with the certificate and the procedures
of Euroclear, Clearstream and DTC as applicable. 
 (d) Transfer of Book-Entry Interests in a
144A Global Note to Book-Entry Interests in a Regulation S Global Note. A Book-Entry Interest in a 144A Global Note may be transferred to a Person who takes delivery
thereof in the form of a Book-Entry Interest in a Regulation S Global Note only if the transfer complies with the requirements of Section 2.07(b) above and the Trustee receives a certificate from the
Holder of such Book-Entry Interest in the form of Exhibit C hereto, including the certifications in item (2) thereof. 

Upon the receipt of such certificate and the orders and instructions required by Section 2.07(b), the Trustee shall (i) instruct the
Common Depositary or the Depositary to increase Schedule A to such Regulation S Global Note and decrease Schedule A to such 144A Global Note by the principal amount of such transfer, and (ii) instruct the Common Depositary or
Depositary, as applicable, to credit and debit the Participants’ accounts in accordance with the certificate and the procedures of Euroclear, Clearstream and DTC as applicabler. 

(e) Transfer of Book-Entry Interests in Global Notes to Definitive Registered Notes. Book-Entry
Interests in a Dollar Global Note cannot be transferred to persons who take delivery thereof in the form of a Euro Definitive Registered Note. Book-Entry Interests in a Euro Global Note cannot be transferred to persons who take delivery thereof in
the form of a Dollar Definitive Registered Note. A Holder of a Book-Entry Interest in a Global Note 

  
 51 

 EXHIBIT H 
  

 
may transfer such Book-Entry Interest to a Person who takes delivery thereof in the form of a Definitive Registered Note if the transfer complies with the
requirements of Section 2.07(a) and Section 2.07(b) above and: 
 (1) in the case of a transfer by a Holder of a Book-Entry Interest in a Global Note to a QIB in reliance on Rule 144A, the Trustee shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item
(1) thereof; or 
 (2) in the case of a transfer by a Holder of a Book-Entry
Interest in a Global Note in reliance on Regulation S, the Trustee shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (2) thereof. 

Upon receipt of such certificates and the orders and instructions required by Section 2.07(b), the Trustee shall (i) instruct the
Common Depositary or the Depositary to decrease Schedule A to the relevant Global Note by the principal amount of such transfer; (ii) instruct the Common Depositary or Depositary, as applicable, to credit and debit the Participants’
accounts in accordance with the certificate and the procedures of Euroclear, Clearstream and DTC as applicable; and (iii) deliver to the Registrar the instructions received by it that contain information regarding the Person in whose name
Definitive Registered Notes shall be registered to effect such transfer. The Registrar shall record the transfer in the Register and shall cause all Definitive Registered Notes issued in connection with a transfer pursuant to this
Section 2.07(e) to bear the Private Placement Legend. 
 The Issuer shall issue and, upon receipt of an Authentication Order from the
Issuer in accordance with Section 2.02, the Authenticating Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of
Book-Entry Interests so transferred and registered and in the names set forth in the instructions received by the Registrar. 

(f) Transfer of Definitive Registered Notes to Book-Entry Interests in Global Notes. Dollar
Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form of Book-Entry Interests in a Euro Global Note. Euro Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form
of Book-Entry Interests in a Dollar Global Note. Any Holder of a Definitive Registered Note may transfer such Definitive Registered Note to a Person who takes delivery thereof in the form of a Book-Entry
Interest in a Global Note only if: 
 (1) in the case of a transfer by a Holder of Definitive Registered Note to a person who
takes delivery thereof in the form of a Book-Entry Interest in a Regulation S Global Note, the Registrar shall have received a certificate to the effect set forth in Exhibit C hereto, including the
certifications in item (2) thereof; 
 (2) in the case of a transfer by a Holder of Definitive Registered Notes to a QIB
in reliance on Rule 144A who takes delivery thereof in the form of a Book-Entry Interest in a Rule 144A Global Note, the Registrar shall have received a certificate to the effect set forth in Exhibit C
hereto, including the certifications in item (1) thereof; 
 Upon satisfaction of the foregoing conditions, the Registrar shall
(i) deliver the Definitive Registered Notes to the Trustee for cancellation pursuant to Section 2.12; (ii) record such transfer on the Register; (iii) instruct the Common Depositary or the Depositary to deliver (A) in the
case of a transfer pursuant to Section 2.07(f)(1), a Dollar Regulation S Global Note or a Euro Regulation S Global Note, as the case may be, and (B) in the case of 

  
 52 

 EXHIBIT H 
  

 
a transfer pursuant to Section 2.07(f)(2), a Dollar 144A Global Note or a Euro 144A Global Note, as the case may be; (iv) endorse Schedule A to such Global Note to reflect the
increase in principal amount resulting from such transfer; and (v) thereafter, return the Global Notes to the Common Depositary or the Depositary, together with all information regarding the Participant accounts to be credited in connection
with such transfer. 
 (g) Exchanges of Book-Entry Interests in Global Notes for Definitive
Registered Notes. Euro Book-Entry Interests cannot be exchanged for Dollar Definitive Registered Notes. Dollar Book-Entry Interests cannot be exchanged for Euro Definitive Registered Notes. A Holder of a
Book-Entry Interest in a Global Note may exchange such Book-Entry Interest for a Definitive Registered Note if the exchange complies with the requirements of
Section 2.07(a) and Section 2.07(b) above and the Trustee receives the following: 
 (1) if the Holder of such Book-Entry Interest in a Global Note proposes to exchange such Book-Entry Interest for a Regulation S Definitive Registered Note, a certificate from such Holder in the form of
Exhibit D hereto, including the certifications in items (a) thereof; 
 (2) if the Holder of such Book-Entry Interest in a Global Note proposes to exchange such Book-Entry Interest for a 144A Definitive Registered Note, a certificate from such Holder in the form of
Exhibit D hereto including the certifications in item (a) thereof. 
 Upon receipt of such certificates and the orders and
instructions required by Section 2.07(b), the Trustee shall (i) instruct the Common Depositary or the Depositary to deliver, or cause to be delivered, the relevant Global Note to the Trustee for endorsement and upon receipt thereof,
decrease Schedule A to the relevant Global Note by the principal amount of such exchange; (ii) thereafter, return the Global Note to the Common Depositary or the Depositary, together with all information regarding the Participant
accounts to be debited in connection with such exchange; and (iii) deliver to the Registrar instructions received by it that contain information regarding the Person in whose name Definitive Registered Notes shall be registered to effect such
exchange. The Registrar shall record the exchange in the Register and shall cause all Definitive Registered Notes issued in exchange for a Book-Entry Interest in a Global Note pursuant to this
Section 2.07(g) to bear the Private Placement Legend. 
 The Issuer shall issue and, upon receipt of an Authentication Order from the
Issuer in accordance with Section 2.02, the Authenticating Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of
Book-Entry Interests so exchanged and registered and in the names set forth in the instructions received by the Registrar. 

(h) Exchanges of Definitive Registered Notes for Book-Entry Interests in Global Notes. Dollar
Definitive Registered Notes cannot be exchanged for Book-Entry Interests in a Euro Global Note. Euro Definitive Registered Notes cannot be exchanged for Book-Entry Interests in a Dollar Global Note. Any Holder of a Definitive Registered Note may
exchange such Note for a Book-Entry Interest in a Global Note if such exchange complies with Section 2.07(b) above and the Registrar receives the following documentation: 

(1) if the Holder of a 144A Definitive Registered Note proposes to exchange such Note for a
Book-Entry Interest in a 144A Global Note, a certificate from such Holder in the form of Exhibit D hereto, including the certifications in item (b) thereof; or 

(2) if the Holder of a Regulation S Definitive Registered Notes proposes to exchange such Notes for a Book-Entry Interest in a Regulation S Global Note, a certificate from such Holder in the form of Exhibit D hereto, including the certifications in item (b) thereof. 

  
 53 

 EXHIBIT H 
  

 Upon satisfaction of the foregoing conditions, the Common Depositary or Depositary shall
(i) cancel such Note pursuant to Section 2.12; (ii) request that the Registrar record such exchange on the Register; and (iii) endorse Schedule A to such Global Note to reflect the increase in principal amount resulting
from such exchange. 
 (i) Transfer of Definitive Registered Notes for Definitive Registered Notes. Dollar Definitive Registered
Notes cannot be transferred to persons who take delivery thereof in the form of Euro Definitive Registered Notes. Euro Definitive Registered Notes cannot be transferred to persons who take delivery thereof in the form of Dollar Definitive Registered
Notes. Any Holder of a Definitive Registered Note may transfer such Note to a Person who takes delivery thereof in the form of Definitive Registered Notes if the transfer complies with Section 2.07(b) above and the Registrar receives the
following additional documentation: 
 (1) in the case of a transfer by a Holder pursuant to Regulation S, the Registrar
shall have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (2) thereof; or 

(2) in the case of a transfer by a Holder of Definitive Registered Notes to a QIB in reliance on Rule 144A, the Registrar shall
have received a certificate to the effect set forth in Exhibit C hereto, including the certifications in item (1) thereof. 

Upon the receipt of any Definitive Registered Note, the Trustee shall cancel such Note pursuant to Section 2.12 and complete and deliver
to the Issuer (i) in the case of a transfer pursuant to Section 2.07(i)(1), a Regulation S Definitive Registered Note and (ii) in the case of a transfer pursuant to Section 2.07(i)(2), a 144A Definitive Registered Note. The
Registrar shall cause all Definitive Registered Notes issued in exchange in connection with a transfer pursuant to this Section 2.07(i) to bear the Private Placement Legend. 

The Issuer shall issue and, upon receipt of an Authentication Order from the Issuer in accordance with Section 2.02, the Authenticating
Agent shall authenticate, one or more Definitive Registered Notes in an aggregate principal amount equal to the aggregate principal amount of Definitive Registered Notes so transferred and registered in the names set forth in the instructions
received by the Registrar. 
 (j) Legends. 

(1) Private Placement Legend. The following legend shall appear on the face of all Notes issued under this Indenture,
unless the Issuer determines otherwise in compliance with applicable law: 
 “THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR OTHER SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 

  
 54 

 EXHIBIT H 
  

 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S
UNDER THE U.S. SECURITIES ACT, (2) AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION
TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATES OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF
SUCH NOTE)] [IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902
OF REGULATION S) IN RELIANCE ON REGULATION S], ONLY (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE
FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT THAT PURCHASES FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE U.S. SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR
TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER
THE RESALE RESTRICTION TERMINATION DATE. 
 BY ACCEPTING THIS NOTE (OR AN INTEREST IN THE NOTE REPRESENTED HEREBY) EACH ACQUIRER AND EACH
TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG
AS IT HOLDS THIS NOTE OR ANY INTEREST HEREIN IT WILL NOT BE, AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”)), SUBJECT TO THE PROVISIONS OF PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), APPLIES, OR ANY ENTITY WHOSE
UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R. 

  
 55 

 EXHIBIT H 
  

 
SECTION 2510.3-101 (AS MODIFIED BY SECTION 3(42) OF ERISA)), BY REASON OF SUCH AN EMPLOYEE BENEFIT PLAN’S AND/OR PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “BENEFIT
PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN WHICH IS SUBJECT TO ANY U.S. FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE PROHIBITED
TRANSACTION PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND NO PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN INVESTOR OR
SUCH A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, OR (B) ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE OR AN INTEREST HEREIN DOES NOT AND WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER
SECTION 406 OF ERISA AND/OR SECTION 4975 OF THE CODE (OR, IN THE CASE OF A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, A NON-EXEMPT VIOLATION OF ANY SIMILAR LAWS); (2) NEITHER THE ISSUER NOR ANY OF ITS AFFILIATES IS A
“FIDUCIARY” (WITHIN THE MEANING OF SECTION 3(21) OF ERISA OR SECTION 4975 OF THE CODE OR, WITH RESPECT TO A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, ANY DEFINITION OF “FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO
THE PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THIS NOTE, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THIS NOTE, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS
AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION WITH THIS NOTE AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THIS NOTE; AND (3) IT WILL NOT SELL OR OTHERWISE
TRANSFER THIS NOTE OR ANY INTEREST HEREIN OTHERWISE THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS, WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE.” 

The following legend shall be included to the extent applicable: 

“THE FOLLOWING INFORMATION IS SUPPLIED SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES. THIS NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT
(“OID”) WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND THIS LEGEND IS REQUIRED BY SECTION 1275(c) OF THE CODE.” 

(2) Euro Global Note Legend. Each Euro Global Note shall bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE COMMON DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL NOTE MAY BE TRANSFERRED OR EXCHANGED IN WHOLE BUT NOT IN PART 

  
 56 

 EXHIBIT H 
  

 
PURSUANT TO SECTION 2.07(a) OF THE INDENTURE; (II) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE; AND (III) THIS GLOBAL NOTE MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE.” 
 (3) Dollar Global Note
Legend. Each Dollar Global Note shall bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE
DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL NOTE MAY BE
TRANSFERRED OR EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE; (II) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE; AND (III) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES
IN DEFINITIVE FORM, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH
NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUER
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

(k) Cancellation. At such time as all Book-Entry Interests have been exchanged for Definitive
Registered Notes or all Global Notes have been redeemed or repurchased, the Global Notes shall be returned to the Trustee for cancellation in accordance with Section 2.12. 

(l) General Provisions Relating to Registration of Transfers and Exchanges. To permit registration of transfers and exchanges, the
Issuer shall execute and the Authentication Agent shall authenticate Global Notes and Definitive Registered Notes upon the Issuer’s order in accordance with the provisions of Section 2.02. 

(1) No service charge shall be made to a Holder for any registration of transfer or exchange, but the Issuer may require
payment of a sum sufficient to cover any taxes, duties or governmental charge payable in connection therewith (other than any such taxes, duties or governmental charge payable upon exchange or transfer pursuant to Sections 2.11, 4.10, 4.14 and
9.05). 

  
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 EXHIBIT H 
  

 (2) All Global Notes and Definitive Registered Notes issued upon any
registration of transfer or exchange of Global Notes or Definitive Registered Notes shall be the valid obligations of the Issuer, evidencing the same debt and entitled to the same benefits under this Indenture, as the Global Notes or Definitive
Registered Notes surrendered upon such registration of transfer or exchange. 
 (3) The Issuer shall not be required to
register the transfer of or, to exchange, Definitive Registered Notes (A) for a period beginning at the opening of business 15 calendar days before any Redemption Date and ending at the close of business on the Redemption Date; (B) for a
period beginning at the opening of business 15 calendar days immediately prior to the date fixed for selection of Notes to be redeemed in part, and ending at the close of business on the date on which such Notes are selected; (C) for a period
of 15 calendar days before any Regular Record Date with respect to any Interest Payment Date; or (D) which the Holder has tendered (and not withdrawn) for repurchase in connection with a Change of Control Offer or an Asset Disposition Offer.

 (4) The Issuer, the Trustee, the Registrar and the Paying Agents will be entitled to treat the registered Holder of a Note
as the owner thereof for all purposes. 
 (5) As soon as practicable after delivering any Global Note or Definitive
Registered Note, the Registrar shall supply to the Trustee and the Agents all relevant details of the Notes delivered. 
 (6)
The Issuer shall not be required to register the transfer or exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

The Trustee shall have no responsibility for any actions or omissions of the Depositary, Common Depositary, Euroclear or Clearstream. 

Section 2.08 Replacement Notes 
 (a)
If any mutilated Note is surrendered to a Paying Agent, the Registrar or the Trustee or the Issuer and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Issuer will issue and the Authenticating
Agent, upon receipt of an Authentication Order, will authenticate a replacement Note if the Trustee’s and/or the Authenticating Agent’s requirements are met. If required by the Trustee or the Issuer, an indemnity bond must be supplied by
the Holder that is sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the Trustee, any Agent and any Authenticating Agent from any loss that any of them may suffer if a Note is replaced. The Issuer and the Trustee may
charge for their expenses in replacing a Note, including reasonable fees and expenses of counsel. In the event any such mutilated, lost, destroyed or stolen Note has become or is about to become due and payable, the Issuer in its discretion may pay
such Note instead of issuing a new Note in replacement thereof. 
 (b) The provisions of this Section 2.08 are exclusive and shall
preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or stolen Notes. 

(c) Every replacement Note issued pursuant to this Section 2.08 is an additional obligation of the Issuer and will be entitled to all of
the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 

  
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 EXHIBIT H 
  

 Section 2.09 Outstanding Notes 

The Notes outstanding at any time are all the Notes authenticated by the Authenticating Agent except for those canceled by it, those delivered
to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.09 as not outstanding. Except as set forth in Section 2.10, a
Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note; however, Notes held by the Issuer or a Subsidiary of the Issuer shall not be deemed to be outstanding for purposes of Section 3.07(a). 

If a Note is replaced pursuant to Section 2.08, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the
replaced Note is held by a protected purchaser. 
 If the principal amount of any Note is considered paid under Section 4.01, it ceases
to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any
thereof) holds, on a Redemption Date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest. 

A mutilated Note ceases to be outstanding upon surrender of such Note and replacement thereof pursuant to Section 2.08. 

Section 2.10 Treasury Notes 
 In
determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer, or by any Person directly or indirectly controlling or controlled by or under direct or indirect
common control with the Issuer, will be considered as though not outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that a Responsible
Officer of the Trustee actually knows are so owned will be so disregarded. 
 Section 2.11 Temporary Notes 

Until certificates representing Notes are ready for delivery, the Issuer may prepare and the Authenticating Agent, upon receipt of an
Authentication Order, will authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but may have variations that the Issuer consider appropriate for temporary Notes and as may be reasonably acceptable to
the Trustee. Without unreasonable delay, the Issuer will prepare and the Trustee will authenticate definitive Notes in exchange for temporary Notes. 

Holders of temporary Notes will be entitled to all of the benefits of this Indenture. 

Section 2.12 Cancellation 
 The
Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel
all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled Notes. Certification of the destruction of all canceled Notes will be delivered to the Issuer. The Issuer may not issue new
Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. 

  
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 EXHIBIT H 
  

 Section 2.13 Defaulted Interest 

If the Issuer defaults in a payment of interest on the Notes, they will pay the defaulted interest in any lawful manner plus, to the
extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer will notify the Trustee in writing of
the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be
less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) will
mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

Section 2.14 CUSIP, ISIN or Common Code Number 

The Issuer in issuing the Notes may use a “CUSIP”, an “ISIN” or “Common Code” number and, if so, such
CUSIP, ISIN or Common Code number shall be included in notices of redemption or exchange as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the
CUSIP, ISIN or Common Code number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. The Issuer will promptly notify the Trustee and each Agent of any change in the
CUSIP, Common Code and/or ISIN number. 
 Section 2.15 Deposit of Moneys 

One Business Day prior to each Interest Payment Date, the maturity date of the Notes, each Redemption Date and each payment date relating to an
Asset Disposition Offer or a Change of Control Offer, and on the Business Day immediately following any acceleration of the Notes pursuant to Section 6.02, the Issuer shall deposit with the relevant Paying Agent in immediately available funds
money in U.S. Dollars, in the Case of the Dollar Notes, or euros, in the case of the Euro Notes, sufficient to make cash payments, if any, due on such Interest Payment Date, maturity date, Redemption Date, the payment date relating to an Asset
Disposition or a Change of Control Offer, or Business Day, as the case may be. All such payments so made to the relevant Paying Agent, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effective to satisfy and
discharge the liability for moneys payable upon any Note. Subject to receipt of such funds by such time, the relevant Paying Agent and each Paying Agent shall remit such payment in a timely manner on such Interest Payment Date, maturity date,
Redemption Date, the payment date relating to an Asset Disposition or a Change of Control Offer, or Business Day, as the case may be, to the Persons and in the manner set forth in paragraph (B) of the Notes. 

The rights of Holders to receive the payments of principal, premium, if any, interest, and Additional Amounts, if any, on such Global Notes
are subject to applicable procedures of the Depositary, Euroclear and Clearstream. If the due date for any payment in respect of any Global Notes is not a Business Day at the place at which such payment is due to be paid, the Holders thereof will
not be entitled to payment of the amount due until the next succeeding Business Day at such place, and will not be entitled to any further interest or other payment as a result of any such delay. 

  
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 Section 2.16 Actions of Agents 

The rights, powers, duties and obligations and actions of each Agent under this Indenture are several and not joint or joint and several. 

ARTICLE 3. 
 REDEMPTION AND
PREPAYMENT 
 Section 3.01 Notices to Trustee 

If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 or pursuant to Section 4.14(d),
they must furnish to the Trustee, at least 10 days but not more than 60 days before a Redemption Date, an Officer’s Certificate setting forth: 

(1) the clause of this Indenture pursuant to which the redemption shall occur; 

(2) the Redemption Date and the record date; 

(3) the principal amount of Notes to be redeemed; 

(4) the redemption price; and 

(5) the CUSIP, ISIN or Common Code numbers, as applicable. 

Section 3.02 Selection of Notes to Be Redeemed or Purchased; Notices 

If less than all of the Euro Notes or the Dollar Notes, as the case may be, are to be redeemed or purchased in an offer to purchase at any
time, the Trustee will select Notes for redemption or purchase on a pro rata basis except: 
 (1) if the Notes are
listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange on which the Notes are listed, as provided to it by the Issuer; or 

(2) if otherwise required by law. 

In the case of any partial redemption, selection of the Notes for redemption will be made by the Trustee on a pro rata basis (or, in the case
of Notes issued in global form, based on the procedures of the Depositary, Euroclear or Clearstream, as applicable) unless otherwise required by law or applicable stock exchange or depositary requirements, although no Euro Notes of €100,000 or
less or Dollar Notes of $200,000 or less can be redeemed in part. The Trustee will not be liable for selections made by it in accordance with this paragraph. If any Note is to be redeemed in part only, the notice of redemption relating to such Note
will state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Note. 

For Notes which are represented by Global Notes held on behalf of the Depositary, Euroclear or Clearstream, notices may be given by delivery
of the relevant notices to the Depositary, Euroclear or Clearstream for communication to entitled account Holders in substitution for the aforesaid mailing. 

  
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 Section 3.03 Notice of Redemption 

Subject to the provisions of Section 3.07, at least 10 calendar days but not more than 60 calendar days before a Redemption Date, the
Issuer will mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a Redemption Date if
the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 12. 

The notice will identify the Notes to be redeemed and will state: 
  

	 	(1)	the Redemption Date and the record date; 

  

	 	(2)	the redemption price; 

  

	 	(3)	the CUSIP, ISIN and/or Common Code number(s), if any; 

  

	 	(4)	if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the Redemption Date upon surrender of such Note, a new Note or Notes in principal amount equal to
the unredeemed portion will be issued upon cancellation of the original Note; 

  

	 	(5)	the name and address of the relevant Paying Agent; 

  

	 	(6)	that Notes called for redemption must be surrendered to the relevant Paying Agent to collect the redemption price; 

  

	 	(7)	that, unless the Issuer defaults in making such redemption payment, interest on Notes called for redemption ceases to accrue on and after the Redemption Date (or such other date specified in Section 4.14(d) to the
extent applicable); 

  

	 	(8)	the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; and 

 

	 	(9)	that no representation is made as to the correctness or accuracy of the CUSIP, ISIN and/or Common Code, if any, listed in such notice or printed on the Notes. 

At the Issuer’s request, the relevant Agent will give the notice of redemption in the Issuer’s name and at its expense;
provided, however, that the Issuer has delivered to the Trustee and the Agents, at least 5 days prior to the date on which such notice is to be sent to the Holders or such shorter period as the Trustee may agree, an Officers’
Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Section 3.04 Effect of Notice of Redemption 

Once notice of redemption is mailed in accordance with Section 3.03, Notes called for redemption become irrevocably due and payable
on the Redemption Date at the redemption price; provided, however, that a notice of redemption may be conditional except as otherwise set forth in this Article 3. 

  
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 EXHIBIT H 
  

 Section 3.05 Deposit of Redemption or Purchase Price 

One Business Day prior to the Redemption Date or repurchase date, the Issuer will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption or purchase price of and accrued interest on all Notes to be redeemed or repurchased on that date. The Trustee or the Paying Agent will promptly return to the Issuer any money deposited with the Trustee or the Paying
Agent by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest on, all Notes to be redeemed or purchased. 

If the Issuer complies with the provisions of the preceding paragraph, on and after the Redemption Date or repurchase date (or such other date
specified in Section 4.14(d), to the extent applicable), interest will cease to accrue on the Notes or the portions of Notes called for redemption or repurchase. If a Note is redeemed or purchased on or after an interest record date but on or
prior to the related Interest Payment Date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or repurchase is not
so paid upon surrender for redemption or repurchase because of the failure of the Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the Redemption Date or repurchase date until such principal is
paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01. 

Section 3.06 Notes Redeemed or Repurchased in Part 

Upon surrender of a Note that is redeemed in part, the Issuer will issue and, upon receipt of an Authentication Order, the Trustee will
authenticate for the Holder at the expense of the Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered; provided that any Euro Definitive Registered Note shall be in a principal amount
of €100,000 or an integral multiple of €1,000 in excess thereof and any Dollar Definitive Registered Note shall be in a principal amount of $200,000 or an integral multiple of $1,000 in excess thereof. 

Section 3.07 Optional Redemption 

(a) Except as set forth in Section 3.07(b), Section 3.07(d), Section 3.10 and Section 4.14(d), the Notes are not redeemable
until January 15, 2020. 
 (b) At any time prior to January 15, 2020, the Issuer may redeem all, or from time to time a part, of
the Euro Notes and/or Dollar Notes upon not less than 10 nor more than 60 days’ notice, at a price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued but unpaid interest and Additional Amounts, if any,
to, the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). 

In each case above, any such redemption and notice may, in the discretion of the Issuer, be subject to satisfaction of one or more conditions
precedent, including that the Issuer or any Paying Agent has received sufficient funds from the Issuer to pay the full redemption price payable to the Holders of the Notes on or before the relevant Redemption Date. For the avoidance of doubt, in
each case above, the Issuer may choose to redeem each series of Notes, either together or separately. 
 If the optional Redemption Date is
on or after an interest record date and on or before the related Interest Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no
additional interest will be payable to Holders whose Notes will be subject to redemption by the Issuer. 

  
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 EXHIBIT H 
  

 (c) On or after January 15, 2020, the Issuer may redeem all, or from time to time a
part, of the Euro Notes and/or Dollar Notes upon not less than 10 nor more than 60 days’ notice, at the following redemption prices (expressed as a percentage of principal amount) plus accrued and unpaid interest and Additional Amounts, if any,
to the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), if redeemed during the twelve-month period commencing on January 15 of the
years set out below: 
  

									
	 Year
	  	Redemption Price	 
	 	  	Euro Notes	 	 	Dollar Notes	 
	 2020
	  	 	102.313	% 	 	 	102.938	% 
	 2021
	  	 	101.542	% 	 	 	101.958	% 
	 2022
	  	 	100.771	% 	 	 	100.979	% 
	 2023 and thereafter
	  	 	100.000	% 	 	 	100.000	% 

 In each case above, any such redemption and notice may, in the discretion of the Issuer, be subject to
satisfaction of one or more conditions precedent, including that the Issuer or any Paying Agent has received sufficient funds from the Issuer to pay the full redemption price payable to the Holders of the Notes on or before the relevant Redemption
Date. For the avoidance of doubt, in each case above, the Issuer may choose to redeem each series of Notes, either together or separately. 

If the optional Redemption Date is on or after an interest record date and on or before the related Interest Payment Date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption by the Issuer. 

Unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called for
redemption on the applicable Redemption Date. 
 (d) At any time, or from time to time, prior to January 15, 2018, the Issuer may
redeem, upon not less than 10 nor more than 60 days’ notice, up to 40% of the principal amount of the Notes issued under this Indenture (including the principal amount of any Additional Notes) at a redemption price of 104.625% of the
principal amount of the Euro Notes and/or 105.875% of the principal amount of the Dollar Notes redeemed, plus accrued and unpaid interest and Additional Amounts, if any, to the applicable Redemption Date (subject to the right of Holders of
record on the relevant record date to receive interest due on the relevant Interest Payment Date), with the Net Cash Proceeds of one or more Equity Offerings; provided that: 

(1) at least 50% of the principal amount of each of the Euro Notes and the Dollar Notes (which includes Additional Notes, if
any) issued under this Indenture remains outstanding immediately after any such redemption; and 
 (2) the redemption occurs
not more than 180 days after the consummation of any such Equity Offering. 
 In each case above, any such redemption and notice may, in the
discretion of the Issuer, be subject to satisfaction of one or more conditions precedent, including that the Issuer or any Paying Agent has received sufficient funds from the Issuer to pay the full 

  
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 EXHIBIT H 
  

 
redemption price payable to the Holders of the Notes on or before the relevant Redemption Date. For the avoidance of doubt, in each case above, the Issuer may choose to redeem each series of
Notes, either together or separately. 
 If the optional Redemption Date is on or after an interest record date and on or before the related
Interest Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be
subject to redemption by the Issuer. 
 (e) At the Issuer’s request, the relevant Agent will give the notice of redemption in the
Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee and the Agents, at least 5 days prior to the date on which such notice is to be sent to the Holders or such shorter period as the
Trustee may agree, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in Section 3.03. 

(f) Any redemption pursuant to this Section 3.07 and Section 4.14(d) shall be made pursuant to the provisions of Sections 3.01
through 3.06. 
 Section 3.08 [Reserved] 

Section 3.09 Mandatory Redemption 

The Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

Section 3.10 Redemption for Taxation Reasons 

The Issuer may redeem the Notes in whole, but not in part, at any time upon giving not less than 10 nor more than 60 days’ notice to the
Holders of the Notes (which notice will be irrevocable) at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid interest, if any, to the date fixed for redemption (a “Tax Redemption
Date”) (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), and Additional Amounts, if any, then due and which will become due on the Tax Redemption Date as a
result of the redemption or otherwise, if the Issuer determines that, as a result of: 
 (1) any change in, or amendment to,
the law or treaties (or any regulations or rulings promulgated thereunder) of a Relevant Taxing Jurisdiction affecting taxation; or 

(2) any change in position regarding the application, administration or interpretation of such laws, treaties, regulations or
rulings (including a holding, judgment or order by a court of competent jurisdiction) (each of the foregoing in clauses (1) and (2), a “Change in Tax Law”), 

the relevant Payor is, or on the next Interest Payment Date in respect of the Notes or the Note Guarantees would be, required to pay more than de minimis
Additional Amounts (but if the relevant Payor is a Note Guarantor, then only if the payment giving rise to such requirement cannot be made by the Fold-In Issuer or another Note Guarantor without the obligation to pay Additional Amounts) and such
obligation cannot be avoided by taking reasonable measures available to it (including, without limitation, by appointing a new or additional paying agent in another jurisdiction). The Change in Tax Law must become effective on or after the date of
the Offering Memorandum. In the case of a successor to the 

  
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 EXHIBIT H 
  

 
Issuer or a relevant Note Guarantor, the Change in Tax Law must become effective after the date that such entity first makes payment in respect of the Notes or the Note Guarantee. Notice of
redemption for taxation reasons will be published in accordance with Section 3.03. Notwithstanding the foregoing, no such notice of redemption will be given (a) earlier than 90 days prior to the earliest date on which the relevant Payor
would be obliged to make such payment of Additional Amounts and (b) unless at the time such notice is given, such obligation to pay such Additional Amounts remains in effect. Prior to the publication, delivery or mailing of any notice of
redemption of the Notes pursuant to the foregoing, the Issuer will deliver to the Trustee (a) an Officer’s Certificate stating that the Issuer is entitled to effect such redemption and setting forth a statement of facts showing that the
conditions precedent to its right to so redeem have been satisfied and that the relevant Payor cannot avoid the obligations to pay Additional Amounts by taking reasonable measures available to it; and (b) an opinion of an independent tax
counsel reasonably satisfactory to the Trustee to the effect that the circumstances referred to above exist. The Trustee will accept and shall be entitled to rely on such Officer’s Certificate and opinion as sufficient evidence of the existence
of satisfaction of the conditions precedent as described above, in which event it will be conclusive and binding on the Holders of the Notes. 

The foregoing provisions will apply mutatis mutandis to any successor to a Payor after such successor person becomes a party to this
Indenture. 
 At the Issuer’s request, the relevant Agent will give the notice of redemption in the Issuer’s name and at its
expense; provided, however, that the Issuer has delivered to the Trustee and the Agents, at least 5 days prior to the date on which such notice is to be sent to the Holders or such shorter period as the Trustee may agree, an Officers’
Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in Section 3.03. 

Section 3.11 Offer to Purchase by Application of Excess Proceeds 

In the event that, pursuant to Section 4.10, the Issuer is required to make an offer to all Holders to purchase Notes (an
“Asset Disposition Offer”), they will follow the procedures specified below. 
 Within five Business Days of the
receipt of such notice from the Issuer will make the Asset Disposition Offer to all Holders of Notes and to the extent notified by the Issuer in such Notice, to all Holders of other Indebtedness of the Issuer or the Affiliate Issuer that does not
constitute Subordinated Obligations (“Other Asset Disposition Indebtedness”) to purchase the maximum principal amount of Notes and any such Other Asset Disposition Indebtedness to which the Asset Disposition Offer applies that may
be purchased out of the Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes and the Other Asset Disposition Indebtedness plus accrued and unpaid interest to the date of purchase, in accordance
with the procedures set forth in Section 3.11 or the agreements governing the Other Asset Disposition Indebtedness, as applicable, in each case in a principal amount of €100,000 and in integral multiples of €1,000 in excess thereof,
in the case of the Euro Notes and $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes. 
 To the
extent that the aggregate amount of Notes and Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess
Proceeds for general corporate purposes in any manner not prohibited by this Indenture. If the aggregate principal amount of Notes surrendered by Holders thereof and Other Asset 

  
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 EXHIBIT H 
  

 
Disposition Indebtedness surrendered by Holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and Other Asset Disposition Indebtedness to be
purchased on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and Other Asset Disposition Indebtedness. For the purposes of calculating the principal amount of any such Indebtedness not denominated in euro,
such Indebtedness shall be calculated by converting any such principal amounts into their Euro Equivalent determined as of a date selected by the Issuer, the Affiliate Issuer or the Issuer that is within the Asset Disposition Offer Period. Upon
completion of such Asset Disposition Offer, the amount of Excess Proceeds shall be reset at zero. The Trustee will not be liable for selections made by it in accordance with this paragraph. 

The Asset Disposition Offer, insofar as it relates to the Notes, will remain open for a period of 20 Business Days following its commencement,
except to the extent that a longer period is required by applicable law (the “Asset Disposition Offer Period”). No later than five Business Days after the termination of the Asset Disposition Offer Period (the “Asset
Disposition Purchase Date”), the Issuer will purchase the principal amount of Notes and Other Asset Disposition Indebtedness required to be purchased pursuant to this Section 3.11 (the “Asset Disposition Offer Amount”)
or, if less than the Asset Disposition Offer Amount has been so validly tendered, all Notes and Other Asset Disposition Indebtedness validly tendered in response to the Asset Disposition Offer. 

Any Net Available Cash payable in respect of the Notes pursuant to this covenant will be apportioned between the Euro Notes and the Dollar
Notes in proportion to the respective aggregate principal amounts of Euro Notes and Dollar Notes validly tendered and not withdrawn, based upon the Euro Equivalent of such principal amount of Dollar Notes determined as of a date selected by the
Issuer that is within the Asset Disposition Offer Period. To the extent that any portion of Net Available Cash payable in respect of the Notes is denominated in a currency other than the currency in which the Notes are denominated, the amount
thereof payable in respect of such Notes shall not exceed the net amount of funds in the currency in which such Notes are denominated that is actually received by the Issuer upon converting such portion into such currency. 

If the Asset Disposition Purchase Date is on or after an interest record date and on or before the related Interest Payment Date, any accrued
and unpaid interest will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Asset Disposition Offer. 

Upon the commencement of an Asset Disposition Offer, the Issuer will send, by first class mail, a notice to the Trustee and each of the
Holders, with a copy to the Trustee. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Disposition Offer. The notice, which will govern the terms of the Asset Disposition
Offer, will state: 
  

	 	(1)	that the Asset Disposition Offer is being made pursuant to this Section 3.11 and Section 4.10 and the length of time the Asset Disposition Offer will remain open; 

 

	 	(2)	the Asset Disposition Offer Amount, the purchase price and the Asset Disposition Purchase Date; 

  

	 	(3)	that any Note not tendered or accepted for payment will continue to accrue interest; 

  

	 	(4)	that, unless the Issuer defaults in making such payment, any Note accepted for payment pursuant to the Asset Disposition Offer will cease to accrue interest after the Asset Disposition Purchase Date; 

  
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 EXHIBIT H 
  

	 	(5)	that Holders electing to have a Note purchased pursuant to an Asset Disposition Offer may elect to have Notes purchased in denominations of €100,000 and in integral multiples of €1,000 in excess thereof, in
the case of the Euro Notes, and in denominations of $200,000 and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes; 

  

	 	(6)	that Holders electing to have Notes purchased pursuant to any Asset Disposition Offer will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes
completed, or transfer by book-entry transfer, to the Issuer, the Depositary, Euroclear or Clearstream, if appointed by the Issuer, or a Paying Agent at the address specified in the notice at least three days
before the Asset Disposition Purchase Date; 

  

	 	(7)	that Holders will be entitled to withdraw their election if the Issuer, the Depositary, Euroclear or Clearstream or the Paying Agent, as the case may be, receives, not later than the expiration of the Asset Disposition
Offer Period, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased;

  

	 	(8)	that, if the aggregate principal amount of Notes and Other Asset Disposition Indebtedness surrendered by Holders thereof exceeds the Asset Disposition Offer Amount, the Issuer will select the Notes and Other Asset
Disposition Indebtedness to be purchased on a pro rata basis based on the principal amount of Notes and such Other Asset Disposition Indebtedness surrendered (with such adjustments as may be deemed appropriate by the Issuer so that only Euro
Notes in denominations of €100,000 and in integral multiples of €1,000 in excess thereof or Dollar Notes in denominations of $200,000 and in integral multiples of $1,000 in excess thereof will be purchased); and 

 

	 	(9)	that Holders whose Notes were purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by
book-entry transfer). 

 On or before the Asset Disposition Purchase Date, the Issuer
will, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Asset Disposition Offer Amount of Notes and Other Asset Disposition Indebtedness or portions of Notes and Other Asset Disposition Indebtedness so
validly tendered and not properly withdrawn pursuant to the Asset Disposition Offer, or if less than the Asset Disposition Offer Amount has been validly tendered and not properly withdrawn, all Notes and Other Asset Disposition Indebtedness so
validly tendered and not properly withdrawn, in each case in a principal amount of €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes and in denominations of $200,000 and in integral multiples of
$1,000 in excess thereof, in the case of the Dollar Notes. The Issuer will deliver to the Trustee an Officer’s Certificate stating that such Notes or portions thereof were accepted for payment by the Issuer in accordance with the terms of this
covenant. The Issuer or the Paying Agent, as the case may be, will promptly (but in any case not later than five Business Days after termination of the Asset Disposition Offer Period) mail or deliver to each tendering Holder of Notes or Holder or
lender of Other Asset Disposition Indebtedness, as the case may be, an amount equal to the purchase price of the Notes or Other Asset Disposition Indebtedness so validly tendered and not properly withdrawn by such Holder or lender, as the case may
be, and accepted by the Issuer for purchase, and the Issuer will promptly issue a new Note, and the Authenticating Agent, upon delivery of an Officer’s Certificate from the Issuer, will 

  
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 EXHIBIT H 
  

 
authenticate and mail or deliver (or cause to be transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered;
provided that each such new Note will be in a principal amount of €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes and in denominations of $200,000 and in integral multiples of $1,000 in
excess thereof, in the case of the Dollar Notes. In addition, the Issuer will take any and all other actions required by the agreements governing the Other Asset Disposition Indebtedness. Any Note not so accepted will be promptly mailed or delivered
by the Issuer to the Holder thereof. The Issuer will publicly announce the results of the Asset Disposition Offer on the Asset Disposition Purchase Date. 

The Issuer will comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other securities
laws or regulations to the extent such laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Disposition Offer. To the extent that the provisions of any securities laws or regulations conflict with the
provisions of this Section 3.11 or Section 4.10, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Indenture by virtue of any conflict. 

Other than as specifically provided in this Section 3.11, any purchase pursuant to this Section 3.11 shall be made pursuant to the
provisions of Sections 3.01 through 3.06. 
 ARTICLE 4. 

COVENANTS 
 Section 4.01 Payment of
Notes 
 (a) The Issuer shall pay or cause to be paid the principal of, premium, if any, and interest and Additional Amounts, if any, on
the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid on the date due if the relevant Paying Agent, if other than the Issuer, holds on the Business Day prior to the due
date, money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all principal, premium and Additional Amounts, if any, and interest then due. 

Principal of, interest, premium and Additional Amounts, if any, on Global Notes will be payable, in respect of the Euro Notes, at the
corporate trust office or agency of the Euro Paying Agent maintained in London, England for such purposes and, in respect of the Dollar Notes, at the corporate trust office or agency of the Dollar Paying Agent maintained in the Borough of Manhattan,
City of New York, for such purposes. All payments on the Global Notes will be made by transfer of immediately available funds to an account of the Holder of the Global Notes in accordance with the procedures or Euroclear, Clearstream or DTC, as
applicable. 
 Principal of, interest, premium and Additional Amounts, if any, on any Definitive Registered Notes will be payable at the
corporate trust office or agency of the Euro Paying Agent or the Dollar Paying Agent, as applicable, in any location required to be maintained for such purposes pursuant to Section 2.03. In addition, interest on Definitive Registered Notes may
be paid by check mailed to the person entitled thereto as shown on the Register for such Definitive Registered Notes. 
 (b) The Issuer shall
pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium at the rate equal to 1% per annum in excess of the then applicable interest rate
on the Notes to the extent lawful; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Amounts (without
regard to any applicable grace period) at the same rate to the extent lawful. 

  
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 Section 4.02 Maintenance of Office or Agency 

The Issuer shall maintain the offices and agencies specified in Section 2.03. The Issuer shall give prompt written notice to the Trustee
of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the corporate trust office of the Trustee. 
 The Issuer may also from time to time
designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission
shall in any manner relieve the Issuer of its obligations to maintain an office or agency in Luxembourg for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency. 
 The Issuer hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Issuer in accordance with Section 2.03. 
 Section 4.03 Reports 

(a) The Issuer or the Affiliate Issuer will provide to the Trustee and, in each case of clauses (2) and (3) of this
Section 4.03, will post on its website (or make similar disclosure) the following (provided, however, that to the extent any reports are filed on the SEC’s website or on the Reporting Entity’s or Liberty Global’s website,
such reports shall be deemed to be provided to the Trustee): 
 (1) within 150 days after the end of each fiscal year ending
subsequent to the Issue Date, an annual report of the Reporting Entity, containing the following information: (a) audited combined or consolidated balance sheets of the Reporting Entity as of the end of the two most recent fiscal years (or such
shorter period as the Reporting Entity has been in existence) and audited combined or consolidated income statements and statements of cash flow of the Reporting Entity for the three most recent fiscal years (or such shorter period as the Reporting
Entity has been in existence), in each case prepared in accordance with GAAP, including appropriate footnotes to such financial statements and a report of the independent public accountants on the financial statements; (b) to the extent
relating to such annual periods, an operating and financial review of the audited financial statements, including a discussion of the results of operations, financial condition, and liquidity and capital resources and critical accounting policies;
and (c) to the extent not included in the audited financial statements or operating and financial review, a description of the business, management and shareholders of the Reporting Entity, and a description of all material debt instruments;
provided, however, that such reports need not (i) contain any segment data other than as required under GAAP in its financial reports with respect to the period presented, (ii) include any exhibits, or (iii) include separate
financial statements for any Affiliates of the Reporting Entity or any acquired businesses; 
 (2) within 60 days after each
of the first three fiscal quarters in each fiscal year, a quarterly report of the Reporting Entity containing the following information: (a) unaudited combined or consolidated income statements of the Reporting Entity

  
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 EXHIBIT H 
  

 
for such period, prepared in accordance with GAAP, and (b) a financial review of such period (including a comparison against the prior year’s comparable period), consisting of a
discussion of (i) the results of operations and financial condition of the Reporting Entity on a consolidated basis, and material changes between the current period and the prior year’s comparable period, (ii) material developments in
the business of the Reporting Entity and its Restricted Subsidiaries, (c) financial information and trends in the business in which the Reporting Entity and its Restricted Subsidiaries is engaged and (d) information with respect to any
material acquisition or disposal during the period provided, however, that such reports need not (i) contain any segment data other than as required under GAAP in its financial reports with respect to the period presented, (ii) include any
exhibits, or (iii) include separate financial statements for any Affiliates of the Reporting Entity or any acquired businesses; and 

(3) within 10 days after the occurrence of such event, information with respect to (a) any change in the independent
public accountants of the Reporting Entity (unless such change is made in conjunction with a change in the auditor of Liberty Global), (b) any material acquisition or disposal, and (c) any material development in the business of the
Reporting Entity and its Restricted Subsidiaries. 
 (b) If the Reporting Entity has designated any of its Subsidiaries as Unrestricted
Subsidiaries and any such Unrestricted Subsidiary or group of Unrestricted Subsidiaries constitute Significant Subsidiaries of the Reporting Entity, then the annual and quarterly information required by Section 4.03(a)(1) and
Section 4.03(a)(2) shall include a reasonably detailed presentation, either on the face of the financial statements, in the footnotes thereto or in a separate report delivered therewith, of the financial condition and results of operations
of the Reporting Entity and its Restricted Subsidiaries separate from the financial condition and results of operations of such Unrestricted Subsidiaries. 

(c) Following any election by the Reporting Entity to change its accounting principles in accordance with the definition of GAAP set forth
under Section 1.01, the annual and quarterly information required by Section 4.03(a)(1) and Section 4.03(a)(2) shall include any reconciliation presentation required by clause (2)(a) of the definition of GAAP set forth
under Section 1.01. 
 (d) To the extent that material differences exist between the business, assets, results of operations or
financial condition of (i) the Reporting Entity and (i) the Issuer, the Affiliate Issuer and the Restricted Subsidiaries, the annual and quarterly reports shall give a reasonably detailed description of such differences and include an
unaudited reconciliation of the Reporting Entity’s financial statements to the financial statements of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries. 

(e) In addition, so long as the Notes remain outstanding and during any period during which the Reporting Entity is not subject to
Section 13 or 15(d) of the Exchange Act nor exempt therefrom pursuant to Rule 12g3-2(b) of the Exchange Act, the Reporting Entity shall furnish to the Holders of the Notes and to prospective investors, upon their request, the information
required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 Section 4.04 Compliance Certificate 

(a) The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s Certificate stating that, in
the course of the performance by the signers of their duties as officers of the Issuer they would normally have knowledge of any Default, and further stating whether or not the signers know of any Default that occurred during such period. 

(b) The Issuer shall, so long as any of the Notes are outstanding, deliver to the Trustee within 30 days after the occurrence of any Default
or Event of Default an Officer’s Certificate specifying such Default or Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. 

  
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 EXHIBIT H 
  

 Section 4.05 Taxes 

The Issuer and the Affiliate Issuer will pay, and will cause each of its respective Subsidiaries to pay, prior to delinquency, all material
taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 

Section 4.06 Stay, Extension and Usury Laws 

Each of the Issuer and the Affiliate Issuer agrees (to the extent that it may lawfully do so) that it will not at any time insist upon, plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and each of the
Issuer and the Affiliate Issuer agrees (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and agrees that it will not, by resort to any such law, hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 

Section 4.07 Limitation on Restricted Payments 

(a) The Issuer and the Affiliate Issuer will not, and will not permit any of the Restricted Subsidiaries, directly or indirectly: 

(1) to declare or pay any dividend or make any distribution on or in respect of its Capital Stock (including any payment in
connection with any merger or consolidation involving the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries) except: 

(A) dividends or distributions payable in Capital Stock of the Issuer or the Affiliate Issuer (other than Disqualified Stock)
or Subordinated Shareholder Loans; and 
 (B) dividends or distributions payable to the Issuer, the Affiliate Issuer or a
Restricted Subsidiary (and if such Restricted Subsidiary is not a Wholly Owned Subsidiary of the Issuer or the Affiliate Issuer, as applicable, to its other Holders of common Capital Stock on a pro rata basis); 

(2) to purchase, redeem, retire or otherwise acquire for value any Capital Stock of the Issuer, the Affiliate Issuer, any
Affiliate Subsidiary or any Parent of the Issuer, the Affiliate Issuer or any Affiliate Subsidiary held by Persons other than the Issuer, the Affiliate Issuer or a Restricted Subsidiary; 

(3) to purchase, repurchase, redeem, defease or otherwise acquire or retire for value, prior to scheduled maturity, scheduled
repayment or scheduled sinking fund payment, any Subordinated Obligations (other than (x) the purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations purchased in anticipation of satisfying a
sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of purchase, repurchase, redemption, defeasance or other acquisition or retirement or (y) Indebtedness permitted under
Section 4.09(b)(2)); or 
 (4) to make any Restricted Investment in any Person; 

  
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 EXHIBIT H 
  

 (any such dividend, distribution, purchase, redemption, repurchase, defeasance, other acquisition, retirement
or Restricted Investment referred to in clauses (1) through (4) is referred to herein as a “Restricted Payment”), if at the time the Issuer, the Affiliate Issuer or such Restricted Subsidiary makes such Restricted Payment:

 (A) a Default shall have occurred and be continuing (or would result therefrom); or 

(B) the Issuer, the Affiliate Issuer and the Restricted Subsidiaries are not able to Incur an additional €1.00 of Pari
Passu Indebtedness pursuant to Section 4.09(a) after giving effect, on a pro forma basis, to such Restricted Payment; or 

(C) the aggregate amount of such Restricted Payment and all other Restricted Payments declared or made subsequent to
May 7, 2010 and not returned or rescinded would exceed the sum of: 
  

	 	(i)	50% of Consolidated Net Income for the period (treated as one accounting period) from the beginning of the first fiscal quarter commencing after May 7, 2010 to the end of the most recent fiscal quarter ending prior
to the date of such Restricted Payment for which financial statements are available (or, in case such Consolidated Net Income is a deficit, minus 100% of such deficit); 

 

	 	(ii)	100% of the aggregate Net Cash Proceeds and the fair market value, as determined in good faith by the Board of Directors or senior management of the Issuer, of marketable securities, or other property or assets,
received by the Issuer or the Affiliate Issuer from the issue or sale of its Capital Stock (other than Disqualified Stock) or Subordinated Shareholder Loans or other capital contributions subsequent to May 7, 2010 (other than (x) Net Cash
Proceeds received from an issuance or sale of such Capital Stock to the Issuer, the Affiliate Issuer or a Restricted Subsidiary or an employee stock ownership plan, option plan or similar trust to the extent such sale to an employee stock ownership
plan or similar trust is financed by loans from or guaranteed by the Issuer, the Affiliate Issuer or any Restricted Subsidiary unless such loans have been repaid with cash on or prior to the date of determination, (y) Excluded Contributions or
(z) Net Cash Proceeds and the fair market value of such assets received in connection with the Acquisition); 

  

	 	(iii)	100% of the aggregate Net Cash Proceeds and the fair market value, as determined in good faith by the Board of Directors or senior management of the Issuer, of marketable securities, or other property or assets,
received by the Issuer, the Affiliate Issuer or any Restricted Subsidiary from the issuance or sale (other than to the Issuer, the Affiliate Issuer or a Restricted Subsidiary) by the Issuer, the Affiliate Issuer or any Restricted Subsidiary
subsequent to May 7, 2010 of any Indebtedness that has been converted into or exchanged for Capital Stock of the Issuer or the Affiliate Issuer (other than Disqualified Stock) or Subordinated Shareholder Loans; 

  
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 EXHIBIT H 
  

	 	(iv)	the amount equal to the net reduction in Restricted Investments made by the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries resulting from: 

 

	 	(A)	repurchases, redemptions or other acquisitions or retirements of any such Restricted Investment, proceeds realized upon the sale or other disposition to a Person other than the Issuer, the Affiliate Issuer or a
Restricted Subsidiary of any such Restricted Investment, repayments of loans or advances or other transfers of assets (including by way of dividend, distribution, interest payments or returns of capital) to the Issuer, the Affiliate Issuer or any
Restricted Subsidiary; or 

  

	 	(B)	the redesignation of Unrestricted Subsidiaries as Restricted Subsidiaries (valued in each case as provided in the definition of “Investment”) not to exceed, in the case of any Unrestricted Subsidiary, the
amount of Investments previously made by the Issuer, the Affiliate Issuer or any Restricted Subsidiary in such Unrestricted Subsidiary, 

which amount in each case under this clause (iv) was included in the calculation of the amount of Restricted Payments; provided,
however, that no amount will be included in Consolidated Net Income for the purposes of the preceding clause (i) to the extent that it is (at the Issuer’s option) included under this clause (iv); and 

 

	 	(v)	100% of the Net Cash Proceeds and the fair market value (as determined in accordance with Section 4.07(d)) of marketable securities, or other property or assets, received by the Issuer, the Affiliate Issuer or any
of the Restricted Subsidiaries in connection with: (A) the sale or other disposition (other than to the Issuer, the Affiliate Issuer or a Restricted Subsidiary or an employee stock ownership plan or trust established by the Issuer, the
Affiliate Issuer or any Subsidiary of the Issuer for the benefit of its employees to the extent funded by the Issuer, the Affiliate Issuer or any Restricted Subsidiary) of Capital Stock of an Unrestricted Subsidiary; and (B) any dividend or
distribution made by an Unrestricted Subsidiary to the Issuer, the Affiliate Issuer or a Restricted Subsidiary; provided however, that no amount will be included in Consolidated Net Income for the purposes of the preceding
clause (i) to the extent that it is (at the Issuer’s option) included under this clause (v). 

 Fair market
value of property or assets other than cash covered by the preceding sentence shall be the fair market value thereof as determined in good faith by the Board of Directors or senior management of the Issuer. 

(b) Section 4.07(a) will not prohibit: 

(1) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Capital Stock, Disqualified Stock,
Subordinated Shareholder Loans or Subordinated Obligations of the Issuer or the Affiliate Issuer made by exchange (including any such exchange pursuant to the exercise of a 

  
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 EXHIBIT H 
  

 
conversion right or privilege in connection with which cash is paid in lieu of the issuance of fractional shares) for, or out of the proceeds of the sale or issuance within 90 days of, Capital
Stock of the Issuer or the Affiliate Issuer (other than Disqualified Stock or Capital Stock issued or sold to a Subsidiary or an employee stock ownership plan or similar trust to the extent such sale to an employee stock ownership plan or similar
trust is financed by loans from or guaranteed by the Issuer, the Affiliate Issuer or any Restricted Subsidiary unless such loans have been repaid with cash on or prior to the date of determination), Subordinated Shareholder Loans or a substantially
concurrent capital contribution to the Issuer or the Affiliate Issuer; provided, however, that (a) such purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of
Restricted Payments and (b) the Net Cash Proceeds from such sale or issuance of Capital Stock or Subordinated Shareholder Loans or from such capital contribution will be excluded from clause (4)(C)(ii) of Section 4.07(a); 

(2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations of the
Issuer or the Affiliate Issuer made by exchange for, or out of the proceeds of the sale within 90 days of, Subordinated Obligations of the Issuer, the Affiliate Issuer or such Restricted Subsidiary that is permitted to be Incurred pursuant to
Section 4.09 and that in each case constitutes Refinancing Indebtedness; provided, however, that such purchase, repurchase, redemption, defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of
Restricted Payments; 
 (3) any purchase, repurchase, redemption, defeasance or other acquisition or retirement of
Disqualified Stock of the Issuer, the Affiliate Issuer or a Restricted Subsidiary made by exchange for, or out of the proceeds of the sale within 90 days of, Disqualified Stock of the Issuer, the Affiliate Issuer or such Restricted Subsidiary, as
the case may be, that, in each case, is permitted to be Incurred pursuant to the covenant described under Section 4.09 and that in each case constitutes Refinancing Indebtedness; provided, however, that such purchase, repurchase, redemption,
defeasance, acquisition or retirement will be excluded in subsequent calculations of the amount of Restricted Payments; 

(4) dividends paid within 60 days after the date of declaration if at such date of declaration such dividend would have
complied with this provision; provided, however, that such dividends will be included in subsequent calculations of the amount of Restricted Payments; 

(5) the purchase, repurchase, defeasance, redemption or other acquisition, cancellation or retirement for value of Capital
Stock, or options, warrants, equity appreciation rights or other rights to purchase or acquire Capital Stock of the Issuer, the Affiliate Issuer or any Restricted Subsidiary or any parent of the Issuer or the Affiliate Issuer held by any existing or
former employees or management of the Issuer, the Affiliate Issuer or any Subsidiary of the Issuer or the Affiliate Issuer or their assigns, estates or heirs, in each case in connection with the repurchase provisions under employee stock option or
stock purchase agreements or other agreements to compensate management employees; provided that such redemptions or repurchases pursuant to this clause will not exceed an amount equal to €10.0 million in the aggregate during any
calendar year (with any unused amounts in any preceding calendar year being carried over to the succeeding calendar year); provided, however, that the amount of any such repurchase or redemption will be included in subsequent calculations of
the amount of Restricted Payments; 

  
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 EXHIBIT H 
  

 (6) the declaration and payment of dividends to Holders of any class or
series of Disqualified Stock, or of any Preferred Stock of a Restricted Subsidiary, Incurred in accordance with the terms of Section 4.09; provided, however, that such dividends will be excluded from subsequent calculations of the amount
of Restricted Payments; 
 (7) purchases, repurchases, redemptions, defeasance or other acquisitions or retirements of
Capital Stock deemed to occur upon the exercise of stock options, warrants or other convertible securities if such Capital Stock represents a portion of the exercise price thereof; provided, however, that such repurchases will be excluded
from subsequent calculations of the amount of Restricted Payments; 
 (8) the purchase, repurchase, redemption, defeasance or
other acquisition or retirement for value of any Subordinated Obligation (a) at a purchase price not greater than 101% of the principal amount of such Subordinated Obligation in the event of a Change of Control in accordance with provisions
similar to Section 4.14, (b) at a purchase price not greater than 100% of the principal amount thereof in accordance with provisions similar to Section 3.11 and Section 4.10; provided that, prior to or simultaneously with
such purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Issuer has made the Change of Control Offer or Asset Disposition Offer, as applicable, as provided in Section 3.11, Section 4.10 or
Section 4.14, as the case may be, with respect to the Notes and has completed the repurchase or redemption of all Notes validly tendered for payment in connection with such Change of Control Offer or Asset Disposition Offer; and
provided, further, that such purchase, redemption or other acquisition of Subordinated Obligations will be excluded from subsequent calculations of the amount of Restricted Payments or (c) (i) consisting of Acquired
Indebtedness (other than Indebtedness Incurred to provide all or any portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired
by the Issuer, the Affiliate Issuer or a Restricted Subsidiary) and (ii) at a purchase price not greater than 100% of the principal amount of such Subordinated Obligation plus accrued and unpaid interest and any premium required by the terms of
any Acquired Indebtedness; 
 (9) dividends, loans, advances or distributions to any Parent or other payments by the Issuer,
the Affiliate Issuer or any Restricted Subsidiary in amounts equal to: 
 (A) the amounts required for any Parent to pay
Parent Expenses; 
 (B) the amounts required for any Parent to pay Public Offering Expenses or fees and expenses related to
any other equity or debt offering of such Parent that are directly attributable to the operation of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries; 

(C) the amounts required for any Parent to pay Related Taxes; and 

(D) amounts constituting payments satisfying the requirements of clauses (11) and (12) of Section 4.11(b); 

provided, however, that such dividends, loans, advances, distributions or other payments will be excluded from subsequent
calculations of the amount of Restricted Payments; 

  
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 EXHIBIT H 
  

 (10) Restricted Payments in an aggregate amount outstanding at any time not
to exceed the aggregate cash amount of Excluded Contributions, or consisting of non-cash Excluded Contributions, or Investments in exchange for or using as consideration Investments previously made under this clause, provided, however,
that the amount of such Restricted Payments will be excluded from subsequent calculations of the amount of Restricted Payments; 

(11) payments by the Issuer or the Affiliate Issuer, or loans, advances, dividends or distributions to any parent company of
the Issuer or the Affiliate Issuer to make payments to Holders of Capital Stock of the Issuer or the Affiliate Issuer or any parent company of the Issuer or the Affiliate Issuer in lieu of the issuance of fractional shares of such Capital Stock;
provided, however, that the net amount of such payments will be excluded from subsequent calculations of the amount of Restricted Payments; 

(12) so long as no Default or Event of Default of the type specified in clauses (1) or (2) under Section 6.01(a)
has occurred and is continuing, Restricted Payments to be applied for the purpose of making corresponding payments on Indebtedness of any Parent to the extent that such Indebtedness is guaranteed by the Issuer or the Affiliate Issuer pursuant to a
guarantee otherwise permitted to be Incurred under this Indenture; provided, however, that the amount of such payments will be included in subsequent calculations of the amount of Restricted Payments; 

(13) so long as no Default or Event of Default of the type specified in clauses (1) or (2) under Section 6.01(a)
has occurred and is continuing, any Restricted Payment to the extent that, after giving pro forma effect to any such Restricted Payment, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00, provided, however, that
the net amount of such payments will be included in subsequent calculations of the amount of Restricted Payments; 
 (14)
Restricted Payments in an aggregate amount at any time outstanding, when taken together with all other Restricted Payments made pursuant to this clause (14), not to exceed the greater of (a) €250.0 million and (b) 5.0% of Total
Assets, in the aggregate in any calendar year (with any unused amounts in any preceding calendar year being carried over to the succeeding calendar year); provided, however, that the amount of such Restricted Payments will be included
in subsequent calculations of the amount of Restricted Payments; 
 (15) the distribution, as a dividend or otherwise, of
shares of Capital Stock of or, Indebtedness owed to the Issuer, the Affiliate Issuer or a Restricted Subsidiary by, Unrestricted Subsidiaries; provided, however, that such distributions will be excluded from subsequent calculations of the
amount of Restricted Payments; 
 (16) following a Public Offering of the Issuer, the Affiliate Issuer or any Parent, the
declaration and payment by the Issuer, the Affiliate Issuer or such Parent, or the making of any cash payments, advances, dividends or distributions to any Parent to pay, dividends or distributions on the Capital Stock, common stock or common equity
interests of the Issuer, the Affiliate Issuer or any Parent; provided that the aggregate amount of all such dividends or distributions under this clause (16) shall not exceed in any fiscal year the greater of (a) 6.0% of the Net
Cash Proceeds received from such Public Offering or subsequent Equity Offering by the Issuer or the Affiliate Issuer or contributed to the capital of the Issuer or the Affiliate Issuer by any Parent in any form other than Indebtedness or Excluded
Contributions and (b) following the Initial Public Offering, an amount equal to the greater of (i) 7.0% of the Market Capitalization and (ii) 7.0% of the IPO Market Capitalization, provided

  
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 EXHIBIT H 
  

 
that after giving pro forma effect to the payment of any such dividend or making of any such distribution, the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00; provided,
however, that the amount of such Restricted Payments will be included in subsequent calculations of the amount of Restricted Payments; 

(17) after the designation of any Restricted Subsidiary as an Unrestricted Subsidiary, distributions (including by way of
dividend) consisting of cash, Capital Stock or property or other assets of such Unrestricted Subsidiary that in each case is held by the Issuer, the Affiliate Issuer or any Restricted Subsidiary; provided, however, that (a) such
distribution or disposition shall include the concurrent transfer of all liabilities (contingent or otherwise) attributable to the property or other assets being transferred; (b) any property or other assets received from any Unrestricted
Subsidiary (other than Capital Stock issued by any Unrestricted Subsidiary) may be transferred by way of distribution or disposition pursuant to this clause (17) only if such property or other assets, together with all related liabilities, is
so transferred in a transaction that is substantially concurrent with the receipt of the proceeds of such distribution or disposition by the Issuer, the Affiliate Issuer or such Restricted Subsidiary; and (c) such distribution or disposition
shall not, after giving effect to any related agreements, result nor be likely to result in any material liability, tax or other adverse consequences to the Issuer, the Affiliate Issuer and the Restricted Subsidiaries on a Consolidated basis;
provided further, however, that such distributions will be excluded from the calculation of the amount of Restricted Payments, it being understood that proceeds from the disposition of any cash, Capital Stock or property or other assets of an
Unrestricted Subsidiary that are so distributed will not increase the amount of Restricted Payments permitted under Section 4.07(a)(4)(C)(iv); 

(18) Restricted Payments reasonably required to consummate any Related Transaction; provided, however, that the amount
of such Restricted Payments will be excluded in subsequent calculations of the amount of Restricted Payments; 
 (19)
Restricted Payments at any time outstanding made with the proceeds of any drawings under a Permitted Revolving Credit Facility in an amount not to exceed the Revolving Facility Excluded Amount, provided that, the amount of any Restricted Payment
made pursuant to this clause (19) shall be deemed to be reduced (but not below zero) by the aggregate principal amount of any prepayment or repayment (including on a cashless basis) of any such drawings under such Permitted Revolving Credit
Facility; provided, however, that, the net amount of such Restricted Payments will be included in subsequent calculations of the amount of Restricted Payments; 

(20) Restricted Payments for the purpose of making corresponding payments on any Indebtedness of a Parent, provided that
(a) on the date of Incurrence of such Indebtedness by a Parent and after giving effect thereto on a pro forma basis, the Consolidated Net Leverage Ratio, calculated for purposes of this clause (20) as if such Indebtedness of such Parent
were being incurred by the Issuer or the Affiliate Issuer, would not exceed 5.0 to 1.0 or (b) such Indebtedness of a Parent is guaranteed pursuant to Section 4.09(b)(13), and, with respect to clause (a) and (b) of this clause
(20), any Refinancing Indebtedness in respect thereof; provided, however, that the amount of such Restricted Payments will be included in subsequent calculations of the amount of Restricted Payments; and 

(21) distributions (including by way of dividend) to a Parent consisting of cash, Capital Stock or property or other assets of
a Restricted Subsidiary that is in each case held by the Issuer, the Affiliate Issuer or any Restricted Subsidiary for sole purpose of transferring such cash, Capital Stock or property or other assets to the Issuer, the Affiliate Issuer or any
Restricted Subsidiary. 

  
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 EXHIBIT H 
  

 (c) For purposes of determining compliance with this Section 4.07, in the event that a
Restricted Payment meets the criteria of more than one of the categories described in Section 4.07(b), or is permitted pursuant to Section 4.07(a), the Issuer will be entitled to classify such Restricted Payment (or portion thereof) on the
date of its payment or later reclassify such Restricted Payment (or portion thereof) in any manner that complies with this Section 4.07. 

(d) The amount of all Restricted Payments (other than cash) shall be the fair market value on the date of such Restricted Payment of the
asset(s) or securities proposed to be paid, transferred or issued by the Issuer, the Affiliate Issuer or such Restricted Subsidiary, as the case may be, pursuant to such Restricted Payment. The fair market value of any cash Restricted Payment shall
be its face amount and any non-cash Restricted Payment shall be determined in good faith by the Board of Directors or senior management of the Issuer. 

Section 4.08 Limitation on Restrictions on Distributions from Restricted Subsidiaries 

(a) The Issuer and the Affiliate Issuer will not, and will not permit any Restricted Subsidiary to, create or otherwise cause or permit to
exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 

(1) pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness or other obligations owed to the
Issuer, the Affiliate Issuer or any Restricted Subsidiary; 
 (2) make any loans or advances to the Issuer, the Affiliate
Issuer or any Restricted Subsidiary; or 
 (3) transfer any of its property or assets to the Issuer, the Affiliate Issuer or
any Restricted Subsidiary; 
 provided that (a) the priority of any Preferred Stock in receiving dividends or liquidating distributions prior to
dividends or liquidating distributions being paid on Common Stock and (b) the subordination of (including but not limited to, the application of any standstill requirements to) loans or advances made to the Issuer, the Affiliate Issuer or any
Restricted Subsidiary to other Indebtedness Incurred by the Issuer, the Affiliate Issuer or any Restricted Subsidiary, shall not be deemed to constitute such an encumbrance or restriction. 

(b) Section 4.08(a) will not prohibit: 

(1) any encumbrance or restriction pursuant to an agreement in effect at or entered into on the date of this Indenture,
including, without limitation, this Indenture, the Senior Facility Agreement, the Priority Agreement, the Senior Secured Priority Agreement, the Existing Senior Notes, the Existing Senior Secured Notes, the Notes Collateral Documents and any related
documentation, in each case, as in effect on the Issue Date; 
 (2) any encumbrance or restriction pursuant to an agreement
or instrument of a Person relating to any Capital Stock or Indebtedness of a Person, Incurred on or before the date on which such Person was acquired by or merged or consolidated with or into the Issuer, the Affiliate Issuer or any Restricted
Subsidiary, 

  
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 EXHIBIT H 
  

 
or on which such agreement or instrument is assumed by the Issuer, the Affiliate Issuer or any Restricted Subsidiary in connection with an acquisition of assets (other than Capital Stock or
Indebtedness Incurred as consideration in, or to provide all or any portion of the funds utilized to consummate, the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was acquired by the
Issuer or the Affiliate Issuer or was merged or consolidated with or into the Issuer, the Affiliate Issuer or any Restricted Subsidiary or in contemplation of such transaction) and outstanding on such date, provided, that any such encumbrance or
restriction shall not extend to any assets or property of the Issuer, the Affiliate Issuer or any other Restricted Subsidiary other than the assets and property so acquired and provided, further, that for the purposes of this clause, if another
Person is the Successor Company, any Subsidiary thereof or agreement or instrument of such Person or any such Subsidiary shall be deemed acquired or assumed by the Issuer, the Affiliate Issuer or any Restricted Subsidiary when such Person becomes
the Successor Company; 
 (3) any encumbrance or restriction pursuant to an agreement or instrument effecting a refunding,
replacement or refinancing of Indebtedness Incurred pursuant to, or that otherwise extends, renews, refunds, refinances or replaces, an agreement referred to in clause (1) or (2) of this Section 4.08(b) or this clause (3) or
contained in any amendment, supplement or other modification to an agreement referred to in clause (1) or (2) of this Section 4.08(b) or this clause (3); provided, however, that the encumbrances and restrictions, taken as a
whole, with respect to such Restricted Subsidiary contained in any such agreement are no less favorable in any material respect to the Holders of the Notes than the encumbrances and restrictions contained in such agreements referred to in clauses
(1) or (2) of this Section 4.08(b) (as determined in good faith by the Board of Directors or senior management of the Issuer); 

(4) in the case of Section 4.08(a)(3), any encumbrance or restriction: 

(A) that restricts in a customary manner the subletting, assignment or transfer of any property or asset that is subject to a
lease, license or similar contract, or the assignment or transfer of any such lease, license or other contract; 
 (B)
contained in Liens permitted under this Indenture securing Indebtedness of the Issuer, the Affiliate Issuer or a Restricted Subsidiary to the extent such encumbrances or restrictions restrict the transfer of the property subject to such mortgages,
pledges or other security agreements; or 
 (C) pursuant to customary provisions restricting dispositions of real property
interests set forth in any reciprocal easement agreements of the Issuer, the Affiliate Issuer or any Restricted Subsidiary; 

(5) any encumbrance or restriction pursuant to (A) Purchase Money Obligations for property acquired in the ordinary course
of business and (B) Capitalized Lease Obligations permitted under this Indenture, in each case that impose encumbrances or restrictions of the nature described in Section 4.08(a)(3) on the property so acquired; 

(6) any Purchase Money Note or other Indebtedness or contractual requirements Incurred with respect to a Qualified Receivables
Transaction relating exclusively to a Receivables Entity that, in the good faith determination of the Board of Directors or senior management of the Issuer, are necessary to effect such Qualified Receivables Transaction; 

  
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 EXHIBIT H 
  

 (7) any encumbrance or restriction with respect to a Restricted Subsidiary
(or any of its property or assets) imposed pursuant to an agreement entered into for the direct or indirect sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary (or the property or assets that are
subject to such restriction) pending the closing of such sale or disposition; 
 (8) customary provisions in leases, asset
sale agreements, joint venture agreements and other agreements and instruments entered into by the Issuer, the Affiliate Issuer or any Restricted Subsidiary in the ordinary course of business; 

(9) encumbrances or restrictions arising or existing by reason of applicable law or any applicable rule, regulation,
governmental license or order, or required by any regulatory authority; 
 (10) any encumbrance or restriction on cash or
other deposits or net worth imposed by customers under agreements entered into in the ordinary course of business; 
 (11)
any encumbrance or restriction pursuant to Currency Agreements, Commodity Agreements or Interest Rate Agreements; and 
 (12)
any encumbrance or restriction arising pursuant to an agreement or instrument relating to any Indebtedness permitted to be Incurred subsequent to the Issue Date pursuant to the provisions of Section 4.09 if (a) the encumbrances and
restrictions taken as a whole are not materially less favorable to the Holders of the Notes than the encumbrances and restrictions contained in this Indenture, the Senior Facility Agreement, the Existing Senior Secured Notes, the Existing Senior
Notes, the Priority Agreement, the Senior Secured Priority Agreement, the Notes Collateral Documents and any related documentation, in each case, as in effect on the Issue Date (as determined in good faith by the Board of Directors or senior
management of the Issuer or the Affiliate Issuer) or (b) such encumbrances and restrictions taken as a whole are not materially more disadvantageous to the Holders of the Notes than is customary in comparable financings (as determined in good
faith by the Board of Directors or senior management of the Issuer or the Affiliate Issuer) and, in each case, either (i) the Issuer or the Affiliate Issuer reasonably believes that such encumbrances and restrictions will not materially affect
the Issuer’s ability to make principal or interest payments on the Notes as and when they come due or (ii) such encumbrances and restrictions apply only if a default occurs in respect of a payment or financial covenant relating to such
Indebtedness. 
 Section 4.09 Limitation on Indebtedness 

(a) The Issuer and the Affiliate Issuer will not, and will not permit any of the Restricted Subsidiaries to, Incur any Indebtedness (including
Acquired Indebtedness); provided, however, that: 
 (1) any Restricted Subsidiary may Incur Indebtedness (including
Acquired Indebtedness) if on the date of such Incurrence and after giving effect thereto on a pro forma basis (a) the Consolidated Net Leverage Ratio (excluding for the purposes of this clause (1)(a), outstanding Indebtedness of the Issuer and
the Affiliate Issuer as set forth in the definition of Consolidated Net Leverage Ratio) would not exceed 4.00 to 1.00 and (b) the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00; and 

(2) the Issuer and/or the Affiliate Issuer may Incur Pari Passu Indebtedness (including Acquired Indebtedness) if on the date
of such Incurrence and after giving effect thereto on a pro forma basis the Consolidated Net Leverage Ratio would not exceed 5.00 to 1.00. 

  
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 EXHIBIT H 
  

 (b) Section 4.09(a) will not prohibit the Incurrence of the following Indebtedness: 

(1) Indebtedness of the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries under Credit Facilities in the
aggregate principal amount at any one time outstanding not to exceed: 
  

	 	(A)	an amount equal to the greater of (i) (x) €6,000.0 million plus (y) the amount of any Credit Facilities incurred under Section 4.09(a) or any other provision of Section 4.09(b) to
acquire any property, other assets or shares of Capital Stock of a Person and (y) 5.0% of Total Assets, plus 

  

	 	(B)	any accrual or accretion of interest that increases the principal amount of Indebtedness under Credit Facilities plus; 

  

	 	(C)	in the case of any refinancing of any Indebtedness permitted under clause (1) of this Section 4.09(b) or any portion thereof, the aggregate amount of fees, underwriting discounts, premiums and other costs and
expenses Incurred in connection with such refinancing; 

 (2) Indebtedness of the Issuer or the Affiliate
Issuer owing to and held by any Restricted Subsidiary (other than a Receivables Entity) or Indebtedness of a Restricted Subsidiary owing to and held by the Issuer, the Affiliate Issuer or any other Restricted Subsidiary (other than a Receivables
Entity); provided, however, that: 
 (A) any subsequent issuance or transfer of Capital Stock or any other event which
results in any such Indebtedness being beneficially held by a Person other than the Issuer, the Affiliate Issuer or a Restricted Subsidiary (other than a Receivables Entity); and 

(B) any sale or other transfer of any such Indebtedness to a Person other than the Issuer, the Affiliate Issuer or a Restricted
Subsidiary (other than a Receivables Entity), 
 shall be deemed, in each case, to constitute an Incurrence of such Indebtedness by the
Issuer, the Affiliate Issuer or such Restricted Subsidiary, as the case may be; 
 (3) (A) Indebtedness represented by the
Notes, (B) Indebtedness under the Existing Senior Notes and the Existing Senior Secured Notes and (C) Indebtedness represented by the Notes Collateral Documents, including, with respect to each such Indebtedness “parallel debt”
obligations created under the Priority Agreement and the Notes Collateral Documents; 

  
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 EXHIBIT H 
  

 (4) any Indebtedness (other than the Indebtedness described in clauses (1),
(2) and (3) of this Section 4.09(b)) outstanding on the Issue Date after giving effect to the use of proceeds of the Notes; 

(5) any Refinancing Indebtedness Incurred in respect of any Indebtedness described in clauses (3), (4), (5), (6), (8), (13),
(15), (16) or (17) of this Section 4.09(b) or Incurred pursuant to Section 4.09(a); 
 (6) Indebtedness
of the Issuer, the Affiliate Issuer or a Restricted Subsidiary Incurred after the Issue Date (A) Incurred and outstanding on the date on which such Restricted Subsidiary was acquired by the Issuer, the Affiliate Issuer or any Restricted
Subsidiary or is merged, consolidated, amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of related liabilities) the Issuer, the Affiliate Issuer or any Restricted Subsidiary or was designated the
Affiliate Issuer or an Affiliate Subsidiary; (B) Incurred to provide all or a portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or an
Affiliate Issuer or was otherwise acquired by the Issuer, the Affiliate Issuer or a Restricted Subsidiary or was designated the Affiliate Issuer or an Affiliate Subsidiary or (C) Incurred and outstanding on the date on which such Restricted
Subsidiary was acquired by the Issuer, the Affiliate Issuer or a Restricted Subsidiary or is merged, consolidated, amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of related liabilities) the
Issuer, the Affiliate Issuer or any Restricted Subsidiary (other than Indebtedness Incurred in contemplation of the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired
by the Issuer, the Affiliate Issuer or a Restricted Subsidiary); provided, however, that with respect to clauses (A) and (B) of this Section 4.09(b)(6) only, immediately following the consummation of the acquisition of such
Restricted Subsidiary by the Issuer or the Affiliate Issuer or by a Restricted Subsidiary or such other transaction, (i) the Issuer, the Affiliate Issuer and the Restricted Subsidiaries would have been able to Incur €1.00 of additional
Pari Passu Indebtedness pursuant to Section 4.09(a) after giving pro forma effect to the relevant acquisition or other transaction and the Incurrence of such Indebtedness pursuant to this Section 4.09(b)(6) or (ii) the Consolidated
Net Leverage Ratio would not be greater than immediately prior to such acquisition or such other transaction; 
 (7)
Indebtedness under Currency Agreements, Commodity Agreements and Interest Rate Agreements entered into for bona fide hedging purposes of the Issuer, the Affiliate Issuer or the Restricted Subsidiaries, in each case, not for speculative purposes (as
determined in good faith by the Board of Directors or senior management of the Issuer or the Affiliate Issuer); 
 (8)
Indebtedness consisting of (A) mortgage financings, Purchase Money Obligations or other financings, Incurred for the purpose of financing all or any part of the purchase price or cost of design, construction, installation or improvement of
property (real or personal), plant, equipment or other assets used or useful in the business of the Issuer, the Affiliate Issuer or any Restricted Subsidiary or (B) Indebtedness otherwise Incurred to finance the purchase, lease, rental or cost
of design, development, construction, installation or improvement of property (real or personal), plant, equipment or other assets used or useful in the business of the Issuer, the Affiliate Issuer or any Restricted Subsidiary, whether through the
direct purchase of assets or the Capital Stock of any Person owning such assets, and any Refinancing Indebtedness which refinances, replaces or refunds such Indebtedness, in an aggregate outstanding principal amount which, when taken together with
the 

  
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 EXHIBIT H 
  

 
principal amount of all other Indebtedness Incurred pursuant to this clause (8) will not exceed the greater of (i) €250.0 million and (ii) 5.0% of Total Assets at any
time outstanding so long as such Indebtedness exists on the date of, or commissioning of, or contracting for, such purchase, design, development, construction, installation or improvement, or is created within 270 days thereafter; 

(9) Indebtedness in respect of (A) workers’ compensation claims, self-insurance obligations, performance, bid,
indemnity, surety, judgment, appeal, performance or appeal bonds, completion guarantees, advance payment, customs, VAT or other tax or other guarantees or other similar bonds, instruments or obligations and completion guarantees and warranties
provided by the Issuer, the Affiliate Issuer or a Restricted Subsidiary or relating to liabilities, obligations or guarantees Incurred in the ordinary course of business or in respect of any government requirement, (B) letters of credit,
bankers’ acceptances, guarantees or other similar instruments or obligations issued or relating to liabilities or obligations Incurred in the ordinary course of business, including letters of credit or similar instruments in respect of self
insurance and worker’s compensation obligations, (C) the financing of insurance premiums in the ordinary course of business and (D) any customary cash management, cash pooling or netting or setting off arrangements in the ordinary
course of business; 
 (10) Indebtedness arising from agreements of the Issuer, the Affiliate Issuer or a Restricted
Subsidiary providing for indemnification, obligations in respect of earn-outs or adjustment of purchase price or similar obligations, in each case, Incurred or assumed in connection with the disposition of any business, assets or Capital Stock of a
Restricted Subsidiary, provided that the maximum aggregate liability in respect of all such Indebtedness shall at no time exceed the gross proceeds (including the fair market value of non-cash proceeds) actually received by the Issuer, the
Affiliate Issuer and the Restricted Subsidiaries in connection with such disposition; 
 (11) Indebtedness arising from the
honoring by a bank or other financial institution of a check, draft or similar instrument (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business, provided, however, that such
Indebtedness is extinguished within thirty Business Days of Incurrence; 
 (12) guarantees by the Issuer, the Affiliate
Issuer or any Restricted Subsidiary of Indebtedness or any other obligation or liability of the Issuer, the Affiliate Issuer or any Restricted Subsidiary (other than of any Indebtedness Incurred in violation of this Section 4.09); 

(13) Indebtedness of the Issuer or the Affiliate Issuer or any Restricted Subsidiary Incurred pursuant to any guarantees of
Indebtedness of any Parent, provided that, for purposes of this clause (13), (i) on the date of such Incurrence and after giving effect thereto on a pro forma basis, the Consolidated Net Leverage Ratio, including for purposes of such
calculation, any Indebtedness represented by guarantees by the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries of Indebtedness of any Parent, would not exceed 5.00 to 1.00, and (ii) such guarantees shall be subordinated to
the Notes and the Note Guarantees pursuant to the Priority Agreement or any Additional Priority Agreement; 
 (14)
Subordinated Shareholder Loans Incurred by the Issuer or the Affiliate Issuer; 

  
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 EXHIBIT H 
  

 (15) Indebtedness of the Issuer, the Affiliate Issuer or the Restricted
Subsidiaries in an aggregate outstanding principal amount which, when taken together with any Refinancing Indebtedness in respect thereof and the principal amount of all other Indebtedness Incurred pursuant to this clause (15) and then
outstanding, will not exceed 100% of the Net Cash Proceeds received by the Issuer or the Affiliate Issuer from the issuance or sale (other than to the Issuer, the Affiliate Issuer or a Restricted Subsidiary) of its Subordinated Shareholder Loans or
Capital Stock or otherwise contributed to the equity of the Issuer, in each case, subsequent to May 7, 2010 (and in each case, other than through the issuance of Disqualified Stock, Preferred Stock or an Excluded Contribution); provided,
however, that (i) any such Net Cash Proceeds that are so received or contributed shall be excluded for purposes of making Restricted Payments under Section 4.07(a)(4)(C)(ii), 4.07(a)(4)(C)(iii) and Section 4.07(b)(1) to the extent
the Issuer, the Affiliate Issuer or any Restricted Subsidiary Incurs Indebtedness in reliance thereon and (ii) any Net Cash Proceeds that are so received or contributed shall be excluded for purposes of Incurring Indebtedness pursuant to this
Section 4.09(b)(15) to the extent the Issuer, the Affiliate Issuer or any Restricted Subsidiary makes a Restricted Payment under Section 4.07(a)(4)(C)(ii), 4.07(a)(4)(C)(iii) and Section 4.07(b)(1) in reliance thereon; 

(16) Indebtedness with Affiliates reasonably required to effect or consummate the Related Transactions; 

(17) in addition to the items referred to in clauses (1) through (16) of this Section 4.09(b), Indebtedness of
the Issuer, the Affiliate Issuer or any Restricted Subsidiary in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (17) of
Section 4.09(b) and then outstanding, will not exceed the greater of (i) €250.0 million and (ii) 5.0% of Total Assets at any time outstanding; and 

(c) For purposes of determining compliance with, and the outstanding principal amount of any particular Indebtedness Incurred pursuant to and
in compliance with, this Section 4.09: 
 (1) in the event that Indebtedness meets the criteria of more than one of the
types of Indebtedness described in Section 4.09(a) and Section 4.09(b), the Issuer, in its sole discretion, will classify such item of Indebtedness on the date of its incurrence and only be required to include the amount and type of such
Indebtedness in one of such clauses of Section 4.09(a) or Section 4.09(b) and will be permitted on the date of such Incurrence to divide and classify an item of Indebtedness in more than one of the types of Indebtedness described in
Section 4.09(a) and Section 4.09(b), and, from time to time, may reclassify all or a portion of such Indebtedness, in any manner that complies with this Section 4.09; 

(2) guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the
determination of a particular amount of Indebtedness shall not be included; 
 (3) if obligations in respect of letters of
credit are Incurred pursuant to any Credit Facility and are being treated as Incurred pursuant to Section 4.09(c)(1) and the letters of credit relate to other Indebtedness, then such other Indebtedness shall not be included; 

(4) the principal amount of any Disqualified Stock of the Issuer or the Affiliate Issuer, or Preferred Stock of a Restricted
Subsidiary, will be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation preference thereof; 

  
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 EXHIBIT H 
  

 (5) Indebtedness permitted by this Section 4.09 need not be permitted
solely by reference to one provision permitting such Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this Section 4.09 permitting such Indebtedness; and 

(6) the amount of Indebtedness issued at a price that is less than the principal amount thereof will be equal to the amount of
the liability in respect thereof determined in accordance with GAAP. 
 Accrual of interest, accrual of dividends, the accretion of accreted
value, the accretion or amortization of original issue discount, the payment of interest or dividends in the form of additional Indebtedness, Preferred Stock or Disqualified Stock and increases in the amount of Indebtedness due to a change in
accounting principles will not be deemed to be an Incurrence of Indebtedness for purposes of this Section 4.09. The amount of any Indebtedness outstanding as of any date shall be (1) the accreted value thereof in the case of any
Indebtedness issued with original issue discount and (2) the principal amount or liquidation preference thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness. 

If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be Incurred
by a Restricted Subsidiary as of such date. 
 For purposes of determining compliance with any euro-denominated restriction on the
Incurrence of Indebtedness, the Euro Equivalent principal amount of Indebtedness denominated in a foreign currency shall be (1) calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the
case of term Indebtedness, or first committed or first Incurred (whichever yields the lower Euro Equivalent), in the case of revolving credit Indebtedness; provided that if such Indebtedness is Incurred to refinance other Indebtedness
denominated in a foreign currency, and such refinancing would cause the applicable euro-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such euro-dominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced and (2) if and for so long as any such
Indebtedness is subject to an agreement intended to protect against fluctuations in currency exchange rates with respect to the currency in which such Indebtedness is denominated covering principal and interest on such Indebtedness, the swapped rate
of such Indebtedness as of the date of the applicable swap. Notwithstanding any other provision of this Section 4.09, the maximum amount of Indebtedness that the Issuer, the Affiliate Issuer and the Restricted Subsidiaries may Incur pursuant to
this Section 4.09 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different currency
from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated that is in effect on the date of such refinancing. 

For purposes of determining compliance with Section 4.09(a) and Section 4.09(b), the Euro Equivalent principal amount of
Indebtedness denominated in a foreign currency (if such Indebtedness has not been swapped into euros, or if such Indebtedness has been swapped into a currency other than euros) shall be calculated using the same weighted average exchange rates for
the relevant period used in the consolidated financial statements 

  
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of the Reporting Entity for calculating the Euro Equivalent of Consolidated EBITDA denominated in the same currency as the currency in which such Indebtedness is denominated or into which it has
been swapped. 
 Section 4.10 Limitation on Sales of Assets and Subsidiary Stock 

(a) The Issuer and the Affiliate Issuer will not, and will not permit any of the Restricted Subsidiaries to, make any Asset Disposition unless:

 (1) the Issuer, the Affiliate Issuer or such Restricted Subsidiary, as the case may be, receives consideration (including
by way of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise) at least equal to the fair market value (such fair market value to be determined on the date of contractually agreeing to such Asset
Disposition), as determined in good faith by the Board of Directors or senior management of the Issuer (including as to the value of all non-cash consideration), of the shares and assets subject to such Asset Disposition; 

(2) unless the Asset Disposition is a Permitted Asset Swap, at least 75% of the consideration from such Asset Disposition
(excluding any consideration by way of relief from, or by any other Person assuming responsibility for, any liabilities, contingent or otherwise, other than Indebtedness) received by the Issuer, the Affiliate Issuer or such Restricted Subsidiary, as
the case may be, is in the form of cash or Cash Equivalents; and 
 (3) an amount equal to 100% of the Net Available Cash
from such Asset Disposition is applied by the Issuer, the Affiliate Issuer or such Restricted Subsidiary, as the case may be: 

(A) to the extent the Issuer or any Restricted Subsidiary, as the case may be, elects (or is required by the terms of any
Indebtedness), to prepay, repay or purchase Senior Indebtedness of the Issuer, the Affiliate Issuer or any Note Guarantor (including the Notes), or Indebtedness of a Restricted Subsidiary that is not a Note Guarantor (in each case other than
Indebtedness owed to the Issuer, the Affiliate Issuer or an Affiliate of the Issuer) within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; provided, however, that, in connection with
any prepayment, repayment or purchase of Indebtedness pursuant to this clause (a), the Issuer, the Affiliate Issuer, such Note Guarantor or such Restricted Subsidiary will retire such Indebtedness and will cause the related commitment (if any) to be
permanently reduced in an amount equal to the principal amount so prepaid, repaid or purchased; or 
 (B) to the extent the
Issuer, the Affiliate Issuer or such Restricted Subsidiary elects to invest in or commit to invest in Additional Assets within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash; provided,
however, that any such reinvestment in Additional Assets made pursuant to a definitive agreement or a commitment approved by the Board of Directors or senior management of the Issuer that is executed or approved within such time will satisfy
this requirement, so long as such investment is consummated within 6 months of such 365th day; 
 provided that pending the final application of any
such Net Available Cash in accordance with clause (A) or clause (B) of this Section 4.10(a)(3), the Issuer, the Affiliate Issuer and the Restricted Subsidiaries may temporarily reduce Indebtedness or otherwise invest such Net
Available Cash in any manner not prohibited by this Indenture. 

  
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 (b) Any Net Available Cash from Asset Dispositions that is not applied or invested or
committed to be applied as provided in Section 4.10(a) will be deemed to constitute “Excess Proceeds”. On the 366th day after an Asset Disposition, if the aggregate amount of Excess Proceeds exceeds €250.0 million,
the Issuer or the Affiliate Issuer will be required to notify the Issuer that it will be required to make an Asset Disposition Offer in accordance with Section 3.11. 

For the purposes of this Section 4.10, the following will be deemed to be cash: 

(1) the assumption by the transferee of Indebtedness (other than Subordinated Obligations) of the Issuer or the Affiliate
Issuer or Indebtedness of a Restricted Subsidiary and the release of the Issuer, the Affiliate Issuer or such Restricted Subsidiary from all liability on such Indebtedness in connection with such Asset Disposition (in which case the Issuer will,
without further action, be deemed to have applied such deemed cash to Indebtedness in accordance with Section 4.10(a)(3)(A); 

(2) securities, notes or other obligations received by the Issuer, the Affiliate Issuer or any Restricted Subsidiary from the
transferee that are convertible by the Issuer, the Affiliate Issuer or such Restricted Subsidiary into cash or Cash Equivalents within 180 days following the closing of such Asset Disposition; 

(3) Indebtedness of any Restricted Subsidiary that is no longer a Restricted Subsidiary as a result of such Asset Disposition,
to the extent that the Issuer, the Affiliate Issuer and each other Restricted Subsidiary are released from any guarantee of payment of the principal amount of such Indebtedness in connection with such Asset Disposition; 

(4) consideration consisting of Indebtedness of the Issuer, the Affiliate Issuer or any Restricted Subsidiary; 

(5) any Designated Non-Cash Consideration received by the Issuer, the Affiliate Issuer or any Restricted Subsidiary in such
Asset Dispositions having an aggregate fair market value not to exceed 25.0% of the consideration from such Asset Disposition (excluding any consideration received from such Asset Disposition in accordance with clauses (1) to (4) of this
Section 4.10(b)) (with the fair market value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value); and 

(6) in addition to any Designated Non-Cash Consideration received pursuant to clause (5) of this Section 4.10(b),
Designated Non-Cash Consideration received by the Issuer, the Affiliate Issuer or any Restricted Subsidiary in such Asset Dispositions having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received
pursuant to this clause (6) that is at that time outstanding, not to exceed the greater of €120.0 million and 5.0% of Total Assets (with the fair market value of each item of Designated Non-Cash Consideration being measured at the
time received and without giving effect to subsequent changes in value). 
 (c) The Issuer will comply, to the extent applicable, with the
requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Notes pursuant to this Indenture. To the extent that the provisions of

  
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any securities laws or regulations conflict with provisions of this covenant, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached
their obligations under this Indenture by virtue of any conflict. 
 Section 4.11 Limitation on Affiliate Transactions 

(a) The Issuer and the Affiliate Issuer will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, enter into
or conduct any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Issuer or the Affiliate Issuer (an “Affiliate Transaction”) involving aggregate
consideration in excess of €15.0 million for such Affiliate Transactions in any fiscal year, unless: 
 (1) the
terms of such Affiliate Transaction are not materially less favorable, taken as a whole, to the Issuer, the Affiliate Issuer or such Restricted Subsidiary, as the case may be, than those that could be obtained in a comparable transaction at the time
of such transaction in arm’s-length dealings with a Person who is not such an Affiliate; and 
 (2) in the event such
Affiliate Transaction involves an aggregate consideration in excess of €100.0 million, the terms of such transaction have been approved by a majority of the members of the Board of Directors of the Issuer. 

(b) Section 4.11(a) will not apply to: 

(1) any Restricted Payment permitted to be made pursuant to Section 4.07 or any Permitted Investment; 

(2) any issuance or sale of Capital Stock, options, other equity-related interests or other securities, or other payments,
awards or grants in cash, securities or otherwise pursuant to, or the funding of, or entering into, or maintenance of, any employment, consulting, collective bargaining or benefit plan, program, agreement or arrangement, related trust or other
similar agreement and other compensation arrangements, options, warrants or other rights to purchase Capital Stock of the Issuer, the Affiliate Issuer or any Parent, restricted stock plans, long-term incentive plans, stock appreciation rights plans,
participation plans or similar employee benefits or consultant plans (including, without limitation, valuation, health, insurance, deferred compensation, severance, retirement, savings or similar plans, programs or arrangements) and/or indemnities
provided on behalf of officers, employees or directors or consultants approved by the Board of Directors of the Issuer or the Affiliate Issuer, in each case in the ordinary course of business; 

(3) loans or advances to employees, officers or directors in the ordinary course of business of the Issuer, the Affiliate
Issuer or any of the Restricted Subsidiaries but in any event not to exceed €15.0 million in the aggregate outstanding at any one time with respect to all loans or advances made since the Issue Date; 

(4) (A) any transaction between or among the Issuer, the Affiliate Issuer and a Restricted Subsidiary (or an entity that
becomes a Restricted Subsidiary in connection with such transaction) or between or among Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary in connection with such transaction) and (B) any guarantees issued by the
Issuer, the Affiliate Issuer or a Restricted Subsidiary for the benefit of the Issuer, the Affiliate Issuer or a Restricted Subsidiary (or an entity that becomes a Restricted Subsidiary in connection with such transaction), as the case may be, in
accordance with Section 4.09; 

  
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 (5) transactions with customers, clients, suppliers or purchasers or sellers
of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture, which, taken as a whole, are fair to the Issuer, the Affiliate Issuer or the relevant Restricted Subsidiary in the
reasonable determination of the Board of Directors of the Issuer or the Affiliate Issuer or the senior management of the Issuer, the Affiliate Issuer or the relevant Restricted Subsidiary, as applicable, or are on terms not materially less favorable
than those that could reasonably have been obtained at such time from an unaffiliated party; 
 (6) loans or advances to any
Affiliate of the Issuer or the Affiliate Issuer by the Issuer, the Affiliate Issuer or any Restricted Subsidiary, provided that the terms of such loan or advance are fair to the Issuer, the Affiliate Issuer or the relevant Restricted Subsidiary, as
the case may be, in the reasonable determination of the Board of Directors or senior management of the Issuer or the Affiliate Issuer or are on terms not materially less favorable than those that could reasonably have been obtained from an
unaffiliated party; 
 (7) the payment of reasonable and customary fees paid to, and indemnity provided on behalf of,
directors of the Issuer, the Affiliate Issuer or any Restricted Subsidiary; 
 (8) the performance of obligations of the
Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries under (A) the terms of any agreement to which the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries is a party as of or on the Issue Date or (B) any
agreement entered into after the Issue Date on substantially similar terms to an agreement under clause (A) of this Section 4.11(b)(8), in each case, as these agreements may be amended, modified, supplemented, extended or renewed from time
to time; provided, however, that any such agreement or amendment, modification, supplement, extension or renewal to such agreement, in each case, entered into after the Issue Date will be permitted to the extent that its terms are not
materially more disadvantageous to the Holders of the Notes than the terms of the agreements in effect on the Issue Date; 

(9) sales or other transfers or dispositions of accounts receivable and other related assets customarily transferred in an
asset securitization transaction involving accounts receivable to a Receivables Entity in a Qualified Receivables Transaction, and acquisitions of Permitted Investments in connection with a Qualified Receivables Transaction; 

(10) the issuance of Capital Stock or any options, warrants or other rights to acquire Capital Stock (other than Disqualified
Stock) of the Issuer or the Affiliate Issuer to any Affiliate; 
 (11) the payment to any Permitted Holder of all reasonable
expenses Incurred by any Permitted Holder in connection with its direct or indirect investment in the Issuer, the Affiliate Issuer and their Subsidiaries and unpaid amounts accrued for prior periods (but after the Issue Date); 

(12) the payment to any Parent or Permitted Holder (A) of Management Fees (i) on a bona fide arm’s length basis
in the ordinary course of business or (ii) of up to the greater of €15.0 million and 0.5% of Total Assets in any calendar year, (B) for financial advisory, financing, underwriting or placement services or in respect of

  
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other investment banking activities, including without limitation in connection with acquisitions or divestitures, which payments are approved by a majority of the members of the Board of
Directors of the Issuer or the Affiliate Issuer or (C) of Parent Expenses; 
 (13) guarantees of Indebtedness and other
obligations otherwise permitted under this Indenture; 
 (14) if not otherwise prohibited under this Indenture, the issuance
of Capital Stock (other than Disqualified Stock) or Subordinated Shareholder Loans (including the payment of cash interest thereon; provided that, after giving pro forma effect to any such cash interest payment, the Consolidated Net
Leverage Ratio for the Issuer, the Affiliate Issuer and the Restricted Subsidiaries would not exceed 5.00 to 1.00) of the Issuer or the Affiliate Issuer to any direct Parent of the Issuer or the Affiliate Issuer or any Permitted Holder; 

(15) arrangements with customers, clients, suppliers, contractors, lessors or sellers of goods or services that are negotiated
with an Affiliate, in each case, which are otherwise in compliance with the terms of this Indenture; provided that the terms and conditions of any such transaction or agreement as applicable to the Issuer, the Affiliate Issuer and the
Restricted Subsidiaries, taken as a whole are fair to the Issuer, the Affiliate Issuer and the Restricted Subsidiaries and are on terms not materially less favorable to the Issuer, the Affiliate Issuer and the Restricted Subsidiaries than those that
could have reasonably been obtained in respect of an analogous transaction or agreement that would not constitute an Affiliate Transaction (in each case, as determined in good faith by the Board of Directors or the senior management of the Issuer or
the Affiliate Issuer); 
 (16) (A) transactions with Affiliates in their capacity as Holders of Indebtedness or Capital Stock
of the Issuer, the Affiliate Issuer or any Restricted Subsidiary, so long as such Affiliates are not treated materially more favorably than Holders of such Indebtedness or Capital Stock generally, and (B) transactions with Affiliates in their
capacity as borrowers of Indebtedness from the Issuer, the Affiliate Issuer or any Restricted Subsidiary, so long as such Affiliates are not treated materially more favorably than Holders of such Indebtedness generally; 

(17) any tax sharing agreement or arrangement and payments pursuant thereto between or among Liberty Global, the Issuer, the
Affiliate Issuer or any other Person or a Restricted Subsidiary not otherwise prohibited by this Indenture and any payments or other transactions pursuant to a tax sharing agreement between the Issuer or the Affiliate Issuer and any other Person or
a Restricted Subsidiary and any other Person with which the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries files a consolidated tax return or with which the Issuer or the Affiliate Issuer or any of the Restricted Subsidiaries is
part of a group for tax purposes (including a fiscal unity) or any tax advantageous group contribution made pursuant to applicable legislation, provided that any such tax sharing agreement does not permit or require payments in excess of the amounts
of tax that would be payable by the Issuer, the Affiliate Issuer and the Restricted Subsidiaries on a stand-alone basis; 

(18) transactions relating to the provision of Intra-Group Services in the ordinary course of business; 

(19) any transaction in the ordinary course of business between or among the Issuer, the Affiliate Issuer or any Restricted
Subsidiary and any Affiliate of the Issuer or the Affiliate Issuer that is an Unrestricted Subsidiary or a joint venture or 

  
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similar entity that would constitute an Affiliate Transaction solely because the Issuer, the Affiliate Issuer or a Restricted Subsidiary owns an equity interest in or otherwise controls such
Unrestricted Subsidiary, joint venture or similar entity; 
 (20) commercial contracts entered into in the ordinary course of
business between an Affiliate of the Issuer, the Affiliate Issuer or any Restricted Subsidiary that are on arm’s-length terms or on a basis that senior management of the Issuer or the Affiliate Issuer reasonably believes allocates costs fairly;
and 
 (21) any Related Transaction. 

Section 4.12 Limitation on Liens 

(a) The Issuer and the Affiliate Issuer will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, create,
Incur or suffer to exist any Lien of any kind securing Indebtedness (other than Permitted Liens) upon any of its property or assets (including Capital Stock of Restricted Subsidiaries), whether owned on the date of this Indenture or acquired after
that date, (such Lien, the “Initial Lien”), unless contemporaneously with the Incurrence of such Initial Lien effective provision is made to secure the Indebtedness due under the Notes equally and ratably with (or prior to, in the case of
Liens with respect to Subordinated Obligations) the Indebtedness secured by such Initial Lien for so long as such Indebtedness is so secured. 

(b) Any such Lien thereby created in favor of the Notes will be automatically and unconditionally released and discharged upon (1) the
release and discharge of the Initial Lien to which it relates,(2) any sale, exchange or transfer to any Person other than the Issuer, the Affiliate Issuer or any Restricted Subsidiary of the property or assets secured by such Initial Lien,
(3) the full and final payment of all amounts payable by the Issuer under the Notes, or (d) the defeasance or discharge of the Notes in accordance with Article 8 and Article 12. 

(c) Notwithstanding the foregoing, the Issuer and the Affiliate Issuer will not, and will not permit any of the Restricted Subsidiaries to,
directly or indirectly, create, Incur or suffer to exist any Lien on any Notes Collateral other than Permitted Collateral Liens. 
 Section 4.13
Corporate Existence 
 Subject to Article 5, the Issuer and the Affiliate Issuer shall respectively do or cause to be done all things
necessary to preserve and keep in full force and effect: 
  

	 	(1)	its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the
Issuer, the Affiliate Issuer or any such Subsidiary; and 

  

	 	(2)	the rights (charter and statutory), licenses and franchises of the Issuer, the Affiliate Issuer and their respective Subsidiaries; provided, however, that none of the Issuer, the Affiliate Issuer shall be
required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of their respective Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer desirable in
the conduct of the business of the Issuer or the Affiliate Issuer and their respective Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders of the Notes. 

  
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 Section 4.14 Change of Control 

(a) If a Change of Control shall occur at any time, the Issuer shall, pursuant to the procedures described in this Section 4.14, offer
(the “Change of Control Offer”) to purchase all Notes in whole or in part in denominations of €100,000 and in integral multiples of €1,000 in excess thereof, in the case of the Euro Notes, and in denominations of $200,000
and in integral multiples of $1,000 in excess thereof, in the case of the Dollar Notes, at a purchase price (the “Change of Control Purchase Price”) in cash in an amount equal to 101% of the principal amount of such Notes, plus any
Additional Amounts and accrued and unpaid interest, if any, to the date of purchase (the “Change of Control Purchase Date”) (subject to the rights of Holders of record on relevant record dates to receive interest due on an Interest
Payment Date); provided, however, that the Issuer shall not be obliged to repurchase Notes as described in this Section 4.14 in the event and to the extent that it has unconditionally exercised its right to redeem all of the Notes
pursuant to Section 3.07 or all conditions to such redemption have been satisfied or waived. No such purchase in part shall reduce the principal amount at maturity of the Notes held by any Holder to below €100,000, in the case of the Euro
Notes, and $200,000, in the case of the Dollar Notes. 
 Unless the Issuer has unconditionally exercised its right to redeem all the Notes
as described under Section 3.07 or all conditions to such redemption have been satisfied or waived, within 30 days of any Change of Control, or, at the Issuer’s option, at any time prior to a Change of Control following the public
announcement thereof or if a definitive agreement is in place for the Change of Control, the Issuer shall notify the Trustee thereof and give written notice of such Change of Control to each Holder of Notes stating, to the extent relevant, among
other things: 
 (1) that a Change of Control has occurred (or may occur) and the date (or expected date) of such event; 

(2) the circumstances and relevant facts regarding such Change of Control; 

(3) the purchase price and the purchase date which shall be fixed by the Issuer on a Business Day no earlier than 10 days nor
later than 60 days from the date such notice is mailed or delivered, or such later date as is necessary to comply with requirements under the Exchange Act; 

(4) that any Note not tendered will continue to accrue interest and unless the Issuer defaults in payment of the Change of
Control Purchase Price, any Notes accepted for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Purchase Date; and 

(5) certain other procedures that a Holder of Notes must follow to accept a Change of Control Offer or to withdraw such
acceptance. 
 If and for so long as the Notes are listed on the Irish Stock Exchange and the guidelines of such Stock Exchange so require,
the Issuer will publish a public announcement with respect to the results of any Change of Control Offer in a leading newspaper of general circulation in Ireland or, to the extent and in the manner permitted by such rules, post such notice on the
official website of the Irish Stock Exchange. 
 The Issuer will comply with the applicable tender offer rules, including Rule 14e-1
under the Exchange Act, and any other applicable securities laws or regulations in connection with a Change of Control Offer. To the extent that the provisions of any 

  
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applicable securities laws or regulations conflict with the provisions of this Section 4.14 (other than the obligation to make an offer pursuant to this Section 4.14), the Issuer will
comply with the securities laws and regulations and will not be deemed to have breached its obligations described in this Section 4.14 by virtue thereof. 

(b) On the Change of Control Purchase Date, the Issuer shall, to the extent lawful: 

(1) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(2) deposit with the Paying Agent, prior to 10:00 a.m. London time an amount equal to the Change of Control Purchase Price in
respect of all Notes or portions of Notes properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the
Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Issuer. 

The Paying Agent will promptly mail (but in any case not later than five days after the Change of Control Purchase Date) to each Holder of
Notes properly tendered the Change of Control Purchase Price for such Notes, and the Authenticating Agent will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note in equal principal amount to any
unpurchased portion of the Notes surrendered, if any, to the Holder of Notes in global form or to each Holder of certificated Notes; provided that each such new Note will be in a principal amount of €100,000 or $200,000 and in integral
multiples of €1,000 or $1,000 in excess thereof. The Issuer will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Purchase Date. 

(c) Notwithstanding anything to the contrary in this Section 4.14, the Issuer shall not be required to make a Change of Control Offer
following a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.14 and purchases all Notes validly tendered and
not withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to Section 3.07, unless and until there is a default in payment of the applicable redemption price. Notwithstanding anything to the
contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer

 (d) If Holders of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes
in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of the Issuer as described above, purchases all of the Notes validly tendered and not withdrawn by such Holders, the Issuer or such third party
will have the right, upon not less than 10 nor more than 60 days’ prior notice, given not more than 30 days following such purchase pursuant to the Change of Control Offer described above, to redeem all Notes that remain outstanding
following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to but excluding the date of the delivery of the notice for such redemption. 

  
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 Section 4.15 Limitation on Issuances of Guarantees of Indebtedness by Restricted Subsidiaries

 (a) The Issuer and the Affiliate Issuer shall not permit any Restricted Subsidiary to, directly or indirectly, guarantee or otherwise
become obligated under any Indebtedness of the Issuer or the Affiliate Issuer in an amount in excess of €50 million unless such Restricted Subsidiary is or becomes an Additional Note Guarantor on the date on which such other guarantee or
Indebtedness is Incurred (or as soon as reasonably practicable thereafter); provided that: 
 (1) if such Restricted
Subsidiary is not a Significant Subsidiary, such Significant Subsidiary shall only be obligated to guarantee the payment of the Notes if such Indebtedness is Indebtedness of the Issuer or the Affiliate Issuer; 

(2) if the Indebtedness is pari passu in right of payment to the Notes, any such guarantee of such Restricted Subsidiary
with respect to such Indebtedness shall rank pari passu in right of payment to its guarantees of the Notes; 
 (3) if
the Indebtedness is subordinated in right of payment to the Notes, any such guarantee of such Restricted Subsidiary with respect to such Indebtedness shall be subordinated in right of payment to the guarantees of the Notes substantially to the same
extent as such Indebtedness is subordinated in right of payment to the Notes; 
 (4) a Restricted Subsidiary’s guarantee
may be limited in amount to the extent required by fraudulent conveyance, thin capitalization, corporate benefit, financial assistance or other similar laws (but, in such a case (A) each of the Issuer, the Affiliate Issuer and the Restricted
Subsidiaries will use their reasonable best efforts to overcome the relevant legal limit and will procure that the relevant Restricted Subsidiary undertakes all whitewash or similar procedures which are legally available to eliminate the relevant
limit and (B) the relevant guarantee shall be given on an equal and ratable basis with the guarantee of any other Indebtedness giving rise to the obligation to guarantee the Notes); and 

(5) for so long as it is not permissible under applicable law for a Restricted Subsidiary to become a guarantor, such
Restricted Subsidiary need not become a guarantor (but, in such a case, each of the Issuer, the Affiliate Issuer and the Restricted Subsidiaries will use their reasonable best efforts to overcome the relevant legal prohibition precluding the giving
of the guarantee and will procure that the relevant Restricted Subsidiary undertakes all whitewash or similar procedures which are legally available to eliminate the relevant legal prohibition, and shall give such guarantee at such time (and to the
extent) that it thereafter becomes permissible). 
 (b) Section 4.15(a) shall not apply to: (1) the granting by such Restricted
Subsidiary of a Permitted Lien under circumstances which do not otherwise constitute the guarantee of Indebtedness of the Issuer, the Affiliate Issuer or a Restricted Subsidiary; or (2) the guarantee by any Restricted Subsidiary of Indebtedness
that refinances Indebtedness which benefited from a guarantee by any Restricted Subsidiary Incurred in compliance with Section 4.15 immediately prior to such refinancing. 

(c) Notwithstanding the foregoing, any guarantee of the Notes created pursuant to the provisions described in Section 4.15(a) shall
provide by its terms that it shall be automatically and unconditionally released and discharged upon the occurrence of any events described in clauses (1) through (10) under Section 10.01. 

  
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 Section 4.16 Payments for Consents 

The Issuer and the Affiliate Issuer will not, and will not permit any of the Restricted Subsidiaries to, directly or indirectly, pay or cause
to be paid any consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture, the Notes, the Notes Guarantees, the Priority Agreement or any Notes
Collateral Document unless such consideration is offered to be paid and is paid to all Holders of the Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or
agreement. 
 Section 4.17 Impairment of Liens 

(a) The Issuer and the Affiliate Issuer shall not, and shall not permit any Restricted Subsidiary to, take or omit to take any action that
would have the result of materially impairing any Lien in the Notes Collateral granted under the Notes Collateral Documents (it being understood, subject to the proviso below, that the Incurrence of Permitted Collateral Liens shall under no
circumstances be deemed to materially impair any Lien in the Notes Collateral granted under the Notes Collateral Documents) for the benefit of Trustee, the Security Agent and the Holders of the Notes, and the Issuer and the Affiliate Issuer shall
not, and the Issuer and the Affiliate Issuer shall not permit any Restricted Subsidiary to, grant to any Person other than the Security Agent for the benefit of the Trustee, the Security Agent and the Holders of the Notes and the other beneficiaries
described in the Notes Collateral Documents and the Priority Agreement, any interest in any of the Notes Collateral, except that (1) the Issuer, the Affiliate Issuer and the Restricted Subsidiaries may Incur Permitted Collateral Liens,
(2) the Notes Collateral may be discharged and released in accordance with the Notes, this Indenture, the Notes Collateral Documents and the Priority Agreement, and (3) the Issuer, the Affiliate Issuer and the Restricted Subsidiaries may
consummate any other transaction permitted under Article 5; provided, however, that, except with respect to any discharge or release of Notes Collateral in accordance with the Notes, this Indenture, the Notes Collateral Documents or the Priority
Agreement, in connection with the Incurrence of Liens for the benefit of the Trustee, the Security Agent and the Holders of the Notes, or the release or replacement of any Notes Collateral in compliance with Section 11.02, no Notes Collateral
Document may be amended, extended, renewed, restated, supplemented or otherwise modified or replaced, except that, without the consent of the Holders of the Notes, the Issuer, the Affiliate Issuer, the Security Agent and the other parties thereto
may from time to time enter into one or more amendments to the Notes Collateral Documents to: (a) cure any ambiguity, omission, manifest error, defect or inconsistency therein; (b) provide for Permitted Collateral Liens; (c) make any
change necessary or desirable, in the good faith determination of the Issuer in order to implement transactions permitted under Article 5; (d) provide for the release of any Lien on any properties and assets constituting Notes Collateral from
the Lien of the Notes Collateral Documents, provided that such release is followed by the substantially concurrent re-taking of a Lien of at least equivalent priority over the same properties and assets securing the Notes; and (e) make any
other change that does not adversely affect the Holders of the Notes in any material respect, provided that, contemporaneously with any such action in clauses (b), (d) and (e), the Issuer delivers to the Trustee either (i) a solvency
opinion, in form and substance reasonably satisfactory to the Trustee, from an Independent Financial Advisor confirming the solvency of the Issuer, the Affiliate Issuer and their Subsidiaries, taken as a whole, after giving effect to any
transactions related to such amendment, extension, renewal, restatement, supplement, modification or replacement, or (ii) a certificate from the responsible financial or accounting officer of the relevant grantor (acting in good faith) which
confirms the solvency of the Person granting such Lien after giving effect to any transactions related to such amendment, extension, renewal, restatement, supplement, modification or replacement or (iii) an Opinion of Counsel, in form and
substance reasonably satisfactory to the Trustee, confirming that, after giving effect to 

  
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 EXHIBIT H 
  

 
any transactions related to such amendment, extension, renewal, restatement, supplement, modification or replacement, the Lien or Liens created under the Notes Collateral Documents, as
applicable, so amended, extended, renewed, restated, supplemented, modified or replaced are valid and perfected Liens not otherwise subject to any limitation, imperfection or new hardening period, in equity or at law, that such Lien or Liens were
not otherwise subject to immediately prior to such amendment, extension, renewal, restatement, supplement, modification or replacement. 
 Section 4.18
Additional Amounts 
 All payments made by the Issuer or any successor thereto or any Note Guarantor (a “Payor”) on
or with respect to the Notes (including, for the purposes of this section, 4.18, Note Guarantees) will be made without withholding or deduction for, or on account of, any present or future taxes (including interest penalties to the extent resulting
from a failure by the Payor to timely pay amounts due), duties, assessments or governmental charges of whatever nature (“Taxes”) unless the withholding or deduction of such Taxes is then required by law or by the official
interpretation or administration thereof. If any deduction or withholding for, or on account of, any Taxes imposed or levied by or on behalf of: 
  

	 	(1)	The Netherlands or any political subdivision or governmental authority thereof or therein having power to tax; 

  

	 	(2)	any jurisdiction from or through which payment on the Notes is made, or any political subdivision or governmental authority thereof or therein having the power to tax; or 

 

	 	(3)	any other jurisdiction in which a Payor is organized or otherwise considered to be a resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax (each of
clause (1), (2) and (3), a “Relevant Taxing Jurisdiction”), 

 will at any time be required from any payments made with
respect to the Notes, including payments of principal, redemption price, interest or premium, the relevant Payor will pay (together with such payments) such additional amounts (the “Additional Amounts”) as may be necessary in order
that the net amounts received in respect of such payments by each Holder of the Notes, as the case may be, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts) equal the amounts which would
have been received in respect of such payments in the absence of such withholding or deduction; provided, however, that no such Additional Amounts will be payable with respect to: 

 

	 	(a)	any Taxes that would not have been so imposed but for the existence of any present or former connection between the relevant Holder or beneficial owner and the Relevant Taxing Jurisdiction imposing such Taxes (other
than the mere ownership or holding of such Note or enforcement of rights thereunder or under this Indenture or the receipt of payments in respect thereof); 

  

	 	(b)	 any Taxes that would not have been so imposed if the Holder had made a declaration of non-residence or any other claim or filing for exemption to
which it is entitled (provided that (i) such declaration of non-residence or other claim or filing for exemption is required by the applicable law of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct
or withhold all or a part of any such Taxes and (ii) at least 30 days prior to the first payment date 

  
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 EXHIBIT H 
  

	 	
with respect to which such declaration of non-residence or other claim or filing for exemption is required under the applicable law of the Relevant Taxing Jurisdiction, the relevant Holder at
that time has been notified (in accordance with the procedures set forth in this Indenture) by the relevant Payor or any other Person through whom payment may be made that a declaration of non-residence or other claim or filing for exemption is
required to be made, but only to the extent the Holder is legally entitled to provide such declaration, claim or filing); 

  

	 	(c)	any Note presented for payment (where presentation is required) more than 30 days after the relevant payment is first made available for payment to the Holder (except to the extent that the Holder would have been
entitled to Additional Amounts had the Note been presented during such 30-day period); 

  

	 	(d)	any Taxes that are payable otherwise than by withholding from a payment of the principal of, premium, if any, or interest on the Notes; 

 

	 	(e)	any estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental charge; 

  

	 	(f)	any Taxes withheld or deducted on a payment required to be withheld or deducted pursuant to the European Council Directive 2003/48/EC or any other directive implementing the conclusions of the ECOFIN meeting of
November 26-27, 2000 on the taxation of savings income or any law implementing or complying with, or introduced in order to conform to, such directive; 

  

	 	(g)	any Taxes which could have been avoided by the presentation (where presentation is required) of the relevant Note to another Paying Agent in a member state of the European Union; 

 

	 	(h)	all United States backup withholding taxes; 

  

	 	(i)	any withholding or deduction imposed pursuant to (1) Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986 (as amended), as of the Issue Date (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof, (2) any treaty, law, regulation or other official guidance enacted in any other jurisdiction, or
relating to an intergovernmental agreement between the United States and any other jurisdiction, which (in either case) facilitates the implementation of (1) above or (3) any agreement pursuant to the implementation of (1) or
(2) above with the U.S. Internal Revenue Service, the U.S. government or any governmental or taxation authority in any other jurisdiction; or 

  

	 	(j)	any combination of items (a) through (i) above. 

 Such Additional Amounts will also
not be payable where, had the beneficial owner of the Note been the Holder of the Note, it would not have been entitled to payment of Additional Amounts by reason of any of clauses (a) to (j) inclusive of this Section 4.18. 

  
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 EXHIBIT H 
  

 The relevant Payor will (1) make any required withholding or deduction and
(2) remit the full amount deducted or withheld to the Relevant Taxing Jurisdiction in accordance with applicable law. The relevant Payor will use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any
Taxes so deducted or withheld from each Relevant Taxing Jurisdiction imposing such Taxes and will provide such certified copies (or, if certified copies are not available despite reasonable efforts of the relevant Payor, other evidence of payment
reasonably satisfactory to the Trustee) to each Holder. The relevant Payor will attach to each certified copy (or other evidence) a certificate stating (a) that the amount of withholding Taxes evidenced by the certified copy was paid in
connection with payments in respect of the principal amount of Notes then outstanding and (b) the amount of such withholding Taxes paid per €1,000 or $1,000 principal amount of the Notes, as the case may be. Copies of such documentation
will be available for inspection during ordinary business hours at the office of the Trustee by the Holders of the Notes upon request and will be made available at the offices of the Paying Agent if the Notes are then listed on the Luxembourg Stock
Exchange. 
 At least 30 days prior to each date on which any payment under or with respect to the Notes is due and payable (unless such
obligation to pay Additional Amounts arises shortly before or after the 30th day prior to such date, in which case it shall be promptly thereafter), if the relevant Payor will be obligated to pay Additional Amounts with respect to such payment, the
relevant Payor will deliver to the Trustee an Officer’s Certificate stating the fact that such Additional Amounts will be payable, the amounts so payable and will set forth such other information necessary to enable the Trustee to pay such
Additional Amounts to Holders on the payment date. Each such Officer’s Certificate shall be relied upon until receipt of a further Officer’s Certificate addressing such matters. The Trustee shall be entitled to rely solely on each such
Officer’s Certificate as conclusive proof that such payments are necessary. 
 Wherever mentioned in this Indenture or the Notes, in
any context: (1) the payment of principal, (2) purchase prices in connection with a purchase of Notes, (3) interest, or (4) any other amount payable on or with respect to the Notes, such reference shall be deemed to include
payment of Additional Amounts as described under this heading to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. 

Each Payor will pay and indemnify the Holders of any present or future stamp, court or documentary taxes or any other excise or property
taxes, charges or similar levies (including interest and penalties to the extent resulting from a failure by the Payor to timely pay amounts due) which arise in any jurisdiction from the execution, delivery or registration of any Notes or any other
document or instrument referred to therein (other than a transfer of the Notes), or the receipt of any payments with respect to the Notes, excluding any such taxes, charges or similar levies imposed by any jurisdiction that is not a Relevant Taxing
Jurisdiction or any jurisdiction in which a Paying Agent is located, other than those resulting from, or required to be paid in connection with, the enforcement of the Notes, the Notes Collateral or any other such document or instrument following
the occurrence of any Event of Default with respect to the Notes. 
 The obligations of this Section 4.18 will survive any termination,
defeasance or discharge of this Indenture and will apply mutatis mutandis to any jurisdiction in which any successor to a Payor is organized or any political subdivision or taxing authority or agency thereof or therein. 

Section 4.19 Suspension of Covenants on Achievement of Investment Grade Status 

If, during any period after the Issue Date, the Notes have achieved and continue to maintain Investment Grade Status and no Event of Default
has occurred and is continuing 

  
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 EXHIBIT H 
  

 
(such period hereinafter referred to as an “Investment Grade Status Period”), then the Issuer, the Affiliate Issuer or the Issuer will notify the Trustee of this fact and
beginning on such date, the provisions of Sections 3.11, 4.07, 4.08, 4.09, 4.10, 4.11 and 4.14, and Section 5.01(a)(3) and any related default provisions of this Indenture will be suspended and will not, during such Investment Grade Status
Period, be applicable to the Issuer, the Affiliate Issuer and the Restricted Subsidiaries (or, with respect to Section 4.14, the Issuer). As a result, during any such Investment Grade Status Period, the Notes will lose a significant amount of
the covenant protection initially provided under this Indenture. No action taken during an Investment Grade Status Period or prior to an Investment Grade Status Period in compliance with the covenants then applicable will require reversal or
constitute a default under this Indenture or the Notes in the event that suspended covenants are subsequently reinstated or suspended, as the case may be. An Investment Grade Status Period will terminate immediately upon the failure of the Notes to
maintain Investment Grade Status (the “Reinstatement Date”). The Issuer or the Affiliate Issuer will promptly notify the Trustee in writing of any failure of the Notes to maintain Investment Grade Status and the Reinstatement Date.

 Section 4.20 Further Instruments and Acts 

Upon request of the Trustee, but without an affirmative duty on the Trustee to do so, the Issuer shall execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

Section 4.21 Listing 
 The Old Issuer
will use all reasonable efforts to have the Notes admitted to listing and trading on the Irish Stock Exchange’s GEM within a reasonable period after the Issue Date and the Issuer will maintain such listing as long as the Notes are outstanding;
provided, however, that if the Issuer can no longer maintain such listing or it becomes unduly burdensome to make or maintain such listing (for the avoidance of doubt, preparation of financial statements in accordance with IFRS (except
pursuant to the definition of GAAP) or any accounting standard other than GAAP and any other standard pursuant to which the Reporting Entity then prepares its financial statements shall be deemed unduly burdensome), the Issuer may cease to make or
maintain such listing on the Irish Stock Exchange provided that the Issuer will use its reasonable best efforts to obtain and maintain the listing of the Notes on another recognized listing exchange for high yield issuers (which may be a stock
exchange that is not regulated by the European Union). 
 Section 4.22 Priority Agreement; Additional Priority Agreements 

The Trustee will become party to the Priority Agreement on or about the Ziggo Group Assumption Date, and each Holder of a Note, by accepting
such Note, will be deemed to have (1) authorized the Trustee to enter into the Priority Agreement, (2) agreed to be bound by all the terms and provisions of the Priority Agreement applicable to such Holder and (3) irrevocably
appointed each of the Trustee and the Security Agent to act on its behalf and to perform the duties and exercise the rights, powers and discretions that are specifically given to them under the Priority Agreement. 

At the request of the Issuer, in connection with the Incurrence by the Issuer of any Indebtedness that is permitted to share the Notes
Collateral pursuant to the definition of Permitted Collateral Lien, the Issuer and the Trustee shall enter into with the Holders of such Indebtedness (or their duly authorized Representatives) a Priority Agreement, including a restatement,
accession, amendment or other modification of an existing intercreditor agreement (an “Additional Priority Agreement”), on substantially the same terms as the 

  
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 EXHIBIT H 
  

 
Priority Agreement (or terms not materially less favorable to the Holders); provided, that such Additional Priority Agreement will not impose any personal obligations on the Trustee or adversely
affect the personal rights, duties, liabilities or immunities of the Trustee under this Indenture or the Additional Priority Agreement. 

At the direction of the Issuer and without the consent of the Holders of the Notes, the Trustee and the Security Agent will from time to time
enter into one or more amendments to the Priority Agreement or any Additional Priority Agreement to: (i) cure any ambiguity, omission, manifest error, defect or inconsistency therein; (ii) add other parties (such as representatives of new
issuances of Indebtedness) thereto; (iii) further secure the Notes (including Additional Notes); (iv) make provision for equal and ratable grants of Liens on the Notes Collateral to secure Additional Notes or to implement any Permitted
Collateral Liens; (v) make any other change to the Priority Agreement or such Additional Priority Agreement to provide for additional Indebtedness (including with respect to any Priority Agreement or Additional Priority Agreement, the addition
of provisions relating to new Indebtedness ranking junior in right of payment to the Notes) or other obligations that are permitted by the terms of this Indenture to be Incurred and secured by a Lien on the Notes Collateral on a senior, pari
passu or junior basis with the Liens securing the Notes, (vi) amend the Priority Agreement or any Additional Priority Agreement in accordance with the terms thereof or; (vii) implement any transaction in connection with the renewal,
extension, refinancing, replacement or increase of any Indebtedness that is secured by the Notes Collateral and that is not prohibited by this Indenture; or (viii) make any other change thereto that does not adversely affect the rights of the
Holders of the Notes in any material respect; provided that no such changes shall be permitted to the extent they affect the ranking of any Note, enforcement of Liens over the Notes Collateral, the application of proceeds from the enforcement
of the Notes Collateral or the release of any Notes Collateral in a manner than would adversely affect the rights of the Holders of the Notes in any material respect except as otherwise permitted by this Indenture, the Priority Agreement or any
Additional Priority Agreement immediately prior to such change. The Issuer will not otherwise direct the Trustee or the Security Agent to enter into any amendment to the Priority Agreement or, if applicable, any Additional Priority Agreement,
without the consent of the Holders of a majority in principal amount of the outstanding Notes outstanding, except as described above or otherwise permitted under Article 9, and the Issuer may only direct the Trustee and the Security Agent to enter
into any amendment to the extent such amendment does not impose any personal obligations on the Trustee or Security Agent or, in the opinion of the Trustee or Security Agent, adversely affect their respective rights, duties, liabilities or
immunities under this Indenture or the Priority Agreement or any Additional Priority Agreement. 
 Each Holder of a Note, by accepting such
Note, will be deemed to have: 
 (a) appointed and authorized the Trustee and the Security Agent from time to time to give effect to such
provisions; 
 (b) authorized each of the Trustee and the Security Agent from time to time to become a party to any Additional Priority
Agreement; 
 (c) agreed to be bound by such provisions and the provisions of any Additional Priority Agreement; and 

(d) irrevocably appointed the Trustee and the Security Agent to act on its behalf from time to time to enter into and comply with such
provisions and the provisions of any Additional Priority Agreement, 
 in each case, without the need for the consent of the Holders. 

  
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 In relation to the Priority Agreement or an Additional Priority Agreement, the Trustee shall
consent on behalf of the Holders to the payment, repayment, purchase, repurchase, defeasance, acquisition, retirement or redemption of any obligations subordinated to the Notes thereby; provided, however, that such transaction would comply with
Section 4.07. 
 Section 4.23 [Reserved] 

Section 4.24 Future Note Guarantees. 

The Issuer or the Affiliate Issuer may from time to time designate a Restricted Subsidiary or an Affiliate as an additional guarantor of the
Notes (the “Note Guarantors”) by causing it to deliver to the Trustee a supplemental indenture to this Indenture in the form of Exhibit E. Each Note Guarantor will, jointly and severally, with the other Note Guarantors, if
applicable, irrevocably guarantee (each guarantee, a “Note Guarantee” and collectively, the “Note Guarantees”), as primary obligor and not merely as surety, on a senior or senior subordinated basis, the full and
punctual payment when due, whether Stated Maturity, by acceleration or otherwise, of all payment obligations of the Issuer under this Indenture and the Notes, whether for payment of principal of or interest on or in respect of the Notes, fees,
expenses, indemnification or otherwise. 
 The obligations of any Note Guarantor will be contractually limited under its Note Guarantee to
prevent the relevant Note Guarantee from constituting a fraudulent conveyance under applicable law or otherwise to reflect limitations under applicable law. 

The obligations of any Note Guarantor will be contractually limited under its Note Guarantee to reflect limitations under applicable law. 

Section 4.25 Limitation on Layering. 

The Issuer and the Affiliate Issuer will not, directly or indirectly, Incur any Indebtedness that is or purports to be by its terms (or by the
terms of any agreement governing such Indebtedness) subordinated in right of payment to any other Indebtedness of the Issuer and the Affiliate Issuer unless such Indebtedness is also by its terms (or by the terms of any agreement governing such
Indebtedness) made expressly subordinate in right of payment to the Notes or the Note Guarantee, as applicable, to the same extent and in the same manner as such Indebtedness is subordinated to such other Indebtedness of the Issuer and the Affiliate
Issuer; provided, however, that no Indebtedness will be deemed to be contractually subordinated in right of payment to any other Indebtedness of the Issuer and the Affiliate Issuer solely by virtue of being unsecured or secured on a junior Lien
basis or by virtue of not being Guaranteed or by virtue of the application of waterfall or other payment ordering provisions affecting different tranches of Indebtedness. 

ARTICLE 5. 
 SUCCESSORS 

Section 5.01 Merger and Consolidation 

(a) Neither the Issuer nor the Affiliate Issuer will consolidate with, or merge with or into, or convey, transfer or lease all or substantially
all of their assets to, any Person, unless: 
 (1) the resulting, surviving or transferee Person (the “Successor
Company”) will be a corporation, partnership, trust or limited liability company organized and existing under the laws of any member of the state of the European Union that is a member of the European Union on the date of this Indenture,

  
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Bermuda, the Cayman Islands, or the United States of America, any State of the United States or the District of Columbia and the Successor Company (if not the Issuer or the Affiliate Issuer, as
applicable) will expressly assume all the obligations of the Issuer under the Notes and this Indenture or the Affiliate Issuer under its Note Guarantee and this Indenture, as applicable; 

(2) immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the
Successor Company or any Subsidiary of the Successor Company as a result of such transaction as having been Incurred by the Successor Company or such Subsidiary at the time of such transaction), no Default or Event of Default shall have occurred and
be continuing; 
 (3) either (A) immediately after giving effect to such transaction, the Issuer and the Affiliate
Issuer, or such Successor Company, would be able to Incur at least an additional €1.00 of Pari Passu Indebtedness pursuant to Section 4.09(b) or (B) the Consolidated Net Leverage Ratio of the Issuer and the Affiliate Issuer, or such
Successor Company, would be no greater than that of the Issuer and the Affiliate Issuer immediately prior to giving effect to such transaction; and 

(4) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
such consolidation, merger or transfer complies with this Indenture; provided that in giving such opinion, such counsel may rely on an Officer’s Certificate as to compliance with Sections 5.01(a)(2) and 5.01(a)(3) above and as to any
matters of fact. 
 (b) For purposes of this Section 5.01, the sale, lease, conveyance, assignment, transfer, or other disposition of
all or substantially all of the properties and assets of one or more Subsidiaries of the Issuer or one or more Subsidiaries of the Affiliate Issuer (as applicable), which properties and assets, if held by the Issuer or the Affiliate Issuer (as
applicable) instead of such Subsidiaries, would constitute all or substantially all of the properties and assets of the Issuer or the Affiliate Issuer (as applicable) on a consolidated basis, shall be deemed to be the transfer of all or
substantially all of the properties and assets of the Issuer or the Affiliate Issuer (as applicable). 
 (c) The Successor Company will
succeed to, and be substituted for, and may exercise every right and power of, the Issuer or the Affiliate Issuer (as applicable) under this Indenture, and upon such substitution, the predecessor Company will be released from its obligations under
this Indenture and the Notes or the Note Guarantee (as applicable), but, in the case of a lease of all or substantially all its assets, the predecessor company will not be released from the obligation to pay the principal of and interest on the
Notes. 
 (d) The provisions set forth in this Section 5.01 shall not restrict (and shall not apply to): (1) any merger,
consolidation or transfer of assets reasonably required to effect or consummate any Related Transaction (provided that, for the purposes of this clause (1), Section 5.01(a)(1) shall apply to any such transaction); (2) any Restricted
Subsidiary from consolidating with, merging or liquidating into or transferring all or substantially all of its properties and assets to the Issuer, the Affiliate Issuer or any other Restricted Subsidiary and; and (3) the Issuer or the
Affiliate Issuer consolidating into or merging or combining with an Affiliate incorporated or organized for the purpose of changing the legal domicile of such entity, reincorporating such entity in another jurisdiction, or changing the legal form of
such entity, provided that, for the purposes of this clause (3), Sections 5.01(a)(1), 5.01(a)(2) and 5.01(a)(4) shall apply to any such transaction. 

  
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 EXHIBIT H 
  

 Section 5.02 Successor Corporation Substituted 

Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all
of the properties or assets of the Issuer in a transaction that is subject to, and that complies with the provisions of, Section 5.01, the successor Person formed by such consolidation or into or with which the Issuer is merged or to which such
sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition,
the provisions of this Indenture referring to the “Issuer” shall refer instead to the successor Person and not to the Issuer), and may exercise every right and power of the Issuer under this Indenture with the same effect as if such
successor Person had been named as the Issuer herein; provided, however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of and interest on the Notes except in the case of a sale of all of the
Issuer’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01. 
 ARTICLE 6.

 DEFAULTS AND REMEDIES 
 Section 6.01
Events of Default 
 (a) Each of the following is an “Event of Default”: 

(1) default in any payment of interest or Additional Amounts on any Note when due, which has continued for 30 days; 

(2) default in the payment of principal of or premium, if any, on any Note when due at its Stated Maturity, upon optional
redemption, upon required repurchase, upon mandatory redemption subject to 3.08 or otherwise; 
 (3) failure by the Issuer or
the Affiliate Issuer to comply for 60 days after notice specified in this Indenture with its other agreements contained in the Notes or this Indenture; provided, however, that the Issuer or the Affiliate Issuer, as applicable, shall have 90 days
after receipt of such notice to remedy, or receive a waiver for, any failure to comply with the obligations to file annual, quarterly and current reports, as applicable, in accordance with Section 4.03 so long as the Issuer or the Affiliate
Issuer, as applicable, is attempting to cure such failure as promptly as reasonably practicable; 
 (4) default under any
mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries (or the payment of which is
guaranteed by the Issuer, the Affiliate Issuer or any of the Restricted Subsidiaries), other than Indebtedness owed to the Issuer, the Affiliate Issuer or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists, or is created
after the Issue Date, which default: 
 (A) is caused by a failure to pay principal of such Indebtedness at its Stated
Maturity after giving effect to any applicable grace period provided in such Indebtedness (“payment default”); or 

(B) results in the acceleration of such Indebtedness prior to its maturity (the “cross acceleration provision”); 

  
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 EXHIBIT H 
  

 and, in each case, the principal amount of any such Indebtedness, together with the principal
amount of any other such Indebtedness under which there has been a payment default or the maturity of which has been so accelerated, aggregates €75.0 million or more; 

(5) 

(A) there shall have been the entry by a court of competent jurisdiction of (i) a decree or order for relief in respect of
the Issuer, the Affiliate Issuer or a Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited Consolidated financial statements delivered to the Holders of the Notes pursuant to Section 4.03),
would constitute a Significant Subsidiary in an involuntary case or proceeding under any applicable Bankruptcy Law or (ii) a decree or order adjudging the Issuer, the Affiliate Issuer or any such Significant Subsidiary or group of Restricted
Subsidiaries bankrupt or insolvent, or seeking moratorium, reorganization, arrangement, adjustment or composition of or in respect of the Issuer, the Affiliate Issuer or any such Significant Subsidiary or group of Restricted Subsidiaries under any
applicable Bankruptcy Law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Issuer, the Affiliate Issuer or any such Significant Subsidiary or group of Restricted Subsidiaries or of
any substantial part of their respective properties, or ordering the winding up or liquidation of their affairs, and any such decree or order for relief shall continue to be in effect, or any such other decree or order shall be unstayed and in
effect, for a period of 60 consecutive days; 
 (B) the Issuer, the Affiliate Issuer or any Significant Subsidiary or group
of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary commences a voluntary case or proceeding
under any applicable Bankruptcy Law or any other case or proceeding to be adjudicated bankrupt or insolvent, or files for or has been granted a moratorium on payment of its debts or files for bankruptcy or is declared bankrupt, 

(C) the Issuer, the Affiliate Issuer or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as
of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary consents to the entry of a decree or order for relief in respect of the Issuer, the Affiliate
Issuer or such Significant Subsidiary or group of Restricted Subsidiaries in an involuntary case or proceeding under any applicable Bankruptcy Law or to the commencement of any bankruptcy or insolvency or proceeding against it, 

(D) the Issuer, the Affiliate Issuer or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as
of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary files a petition or answer or consent seeking reorganization or relief under any applicable
Bankruptcy Law (other than a solvent reorganization for purposes of transferring assets among the Issuer and the Restricted Subsidiaries), 

(E) the Issuer, the Affiliate Issuer or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as
of the latest audited 

  
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consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary (i) consents to the filing of such petition or the
appointment of, or taking possession by, an administrator, custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Issuer, the Affiliate Issuer or such Significant Subsidiary or group of Restricted Subsidiaries or
of any substantial part of their respective properties, (ii) makes an assignment for the benefit of creditors or (iii) admits in writing its inability to pay its debts generally as they become due, 

(F) the whole or any substantial part of the assets of the Issuer, the Affiliate Issuer or any Significant Subsidiary or group
of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary have been placed under administration, or

 (G) the Issuer, the Affiliate Issuer or any Significant Subsidiary or group of Restricted Subsidiaries that, taken
together (as of the latest audited consolidated financial statements delivered to the Holders pursuant to Section 4.03), would constitute a Significant Subsidiary takes any corporate action in furtherance or any such actions in sub-clauses
(B) through (F) of Section 6.01(a); or 
 (6) failure by the Issuer, the Affiliate Issuer or any Significant
Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest audited Consolidated financial statements delivered to Holders of the Notes pursuant to Section 4.03 for the Issuer, the Affiliate Issuer and their Restricted
Subsidiaries), would constitute a Significant Subsidiary, to pay final judgments aggregating in excess of €75.0 million (net of any amounts that a solvent insurance company has acknowledged liability for), which judgments are not paid,
discharged or stayed for a period of 60 days (the “judgment default provision”); or 
 (7) any Lien in the Notes
Collateral created under Notes Collateral Documents having a fair market value of in excess of €100.0 million, or any Lien in the Notes Collateral created under the Notes Collateral Documents, (a) at any time, ceases to be in full
force and effect in any material respect for any reason other than as a result of its release in accordance with this Indenture and the Note Collateral Documents or the Notes Collateral Documents, as applicable, or (b) is declared invalid or
unenforceable in a judicial proceeding and, in each case, and such Default continues for 60 days after the notice specified in this Indenture (the “collateral failure provision”). 

(b) A default under clause (3) or (7) of Section 6.01(a) will not constitute an Event of Default until the Trustee or the
Holders of 25% in principal amount of the outstanding Notes notify the Issuer of the default and the Issuer does not cure such default within the time specified in such clause (3) or (7) of Section 6.01(a) after receipt of such
notice. 
 Section 6.02 Acceleration 

If an Event of Default (other than an Event of Default described in Section 6.01(a)(5)) occurs and is continuing, the Trustee by notice to
the Issuer, or the Holders of at least 25% in principal amount of the outstanding Notes by notice to the Issuer and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal of, premium, if any, and accrued and
unpaid interest, if any, and Additional Amounts, if any, on all the Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and unpaid interest and Additional Amounts, if any, will be due and payable immediately. In
the 

  
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event of a declaration of acceleration of the Notes because an Event of Default described in Section 6.01(a)(4) has occurred and is continuing, the declaration of acceleration of the Notes
shall be automatically annulled if the event of default or payment default triggering such Event of Default pursuant to Section 6.01(a)(4) shall be remedied or cured by the Issuer, the Affiliate Issuer or a Restricted Subsidiary or waived by
the Holders of the relevant Indebtedness within 20 days after the declaration of acceleration with respect thereto and if (a) the annulment of the acceleration of the Notes would not conflict with any judgment or decree of a court of competent
jurisdiction and (b) all existing Events of Default, except non-payment of principal, premium or interest and Additional Amounts, if any, on the Notes that became due solely because of the acceleration of the Notes, have been cured or waived.
If an Event of Default described in Section 6.01(a)(5) occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest and Additional Amounts, if any, on all the Notes will become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the outstanding Notes may waive all past defaults (except with respect to non-payment of principal, premium, interest or
Additional Amounts) and rescind any such acceleration with respect to the Notes and its consequences if (A) rescission would not conflict with any judgment or decree of a court of competent jurisdiction, (B) all existing Events of Default,
other than the non-payment of the principal of, premium, if any, interest and Additional Amounts, if any, on the Notes that have become due solely by such declaration of acceleration, have been cured or waived; and (C) the Issuer has paid the
Trustee its compensation and reimbursed the Trustee for its properly incurred expenses, disbursements and advances. 
 Section 6.03 Other
Remedies 
 If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of
principal, premium, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 
 The
Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of
Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law. 

Section 6.04 Waiver of Past Defaults 

Holders of not less than a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may on behalf
of the Holders of all of the Notes waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium, if any, or interest on, the Notes
(including in connection with an offer to purchase); provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration and its consequences, including any related payment
default that resulted from such acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other Default or impair any right consequent thereon. 
 Prior to taking any action hereunder, the Trustee shall
be entitled to indemnification or other security satisfactory to it in its sole discretion against all losses, liabilities and expenses caused by taking or not taking such action. 

  
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 Section 6.05 Control by Majority 

Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any
proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or that may involve the Trustee in
personal liability. 
 Section 6.06 Limitation on Suits 

A Holder may pursue a remedy with respect to this Indenture or the Notes only if: 

 

	 	(1)	such Holder of Notes has previously given the Trustee written notice that an Event of Default is continuing; 

  

	 	(2)	Holders of at least 50% in principal amount of the outstanding Notes have requested the Trustee to pursue the remedy; 

  

	 	(3)	such Holders of Notes have offered the Trustee security, indemnity or prefunding satisfactory to the Trustee against any loss, liability or expense; 

 

	 	(4)	the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity; and 

 

	 	(5)	the Holders of a majority in principal amount of the outstanding Notes have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

 A Holder of a Note may not use this Indenture to prejudice the rights of
another Holder of a Note or to obtain a preference or priority over another Holder of a Note. 
 Section 6.07 Rights of Holders of Notes to Receive
Payment 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of principal,
premium, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates,
shall not be impaired or affected without the consent of the Holders of not less than 90% in aggregate principal amount of the Notes. 
 Section 6.08
Collection Suit by Trustee 
 If an Event of Default specified in Section 6.01(a)(1) or Section 6.01(a)(2) occurs and is
continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount of principal of, premium, if any, and interest remaining unpaid on, the Notes and interest on
overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the properly incurred compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel. 
 Section 6.09 Trustee May File Proofs of Claim 

The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the properly incurred compensation, expenses, disbursements and advances of the 

  
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Trustee, its agents and counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Issuer (or any other obligor upon the Notes), their creditors or their property
and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments
to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel, and any other amounts due the Trustee under Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due
the Trustee under Section 7.07 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and
other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in
any such proceeding. 
 Section 6.10 Priorities 

Subject to the terms of the Priority Agreement, if the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the
following order: 
 First: to the Trustee, the Security Agent and the Agents, and their agents and attorneys for
amounts due under Section 7.07, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second: to Holders of Notes for amounts due and unpaid on the Notes for principal, premium, if any, and interest,
ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any and interest, respectively; and 

Third: to the Issuer or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant to this Section 6.10. 

Section 6.11 Undertaking for Costs 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant
to Section 6.07, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes. 

  
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 Section 6.12 Restoration of Rights and Remedies 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding (which shall not for the avoidance of doubt be rendered invalid
or annulled by this Section 6.12), the Issuer, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as
though no such proceeding had been instituted. 
 Section 6.13 Rights and Remedies Cumulative 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.07
hereof, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy. 
 ARTICLE 7. 

TRUSTEE 
 Section 7.01 Duties of
Trustee 
 (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in
it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(1) the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee will examine the certificates and opinions to determine whether or not
they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy or mathematical calculations or other facts stated therein). 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this Section 7.01(c) does not limit the effect of Section 7.01(b); 

(2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee will not be liable with respect to
any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.02 or Section 6.05. 

  
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 (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to clauses (a), (b), and (c) of this Section 7.01. 
 (e) No provision of this Indenture
will require the Trustee to expend or risk its own funds or incur any liability. The Trustee will be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has offered to
the Trustee indemnity, security or prefunding satisfactory to the Trustee against any loss, liability or expense. 
 (f) The Trustee will
not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) In no event shall the Trustee or any Agent be liable for any Losses arising in regards to the Trustee or any Agent receiving or
transmitting any data from the Issuer, any Authorized Person or any party to the transaction via any non-secure method of transmission or communication, such as, but without limitation, by facsimile or e-mail. 

Section 7.02 Rights of Trustee 
 (a)
The Trustee and each agent acting on its instructions may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the
document (regardless of whether any such document is subject to any monetary or other limit). 
 (b) Before the Trustee acts or refrains
from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel.
The Trustee may consult with counsel or any other professional advisors and the written advice of such counsel or any Opinion of Counsel will be full and complete protection from liability in respect of any action taken, suffered or omitted by it
hereunder in good faith and in reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and will not be responsible for
the misconduct or negligence of any agent appointed with due care. 
 (d) The Trustee will not be liable for any action it takes or omits to
take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer will be sufficient if signed by an Officer of each Issuer. 

(f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction. 

  
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 (g) The Trustee shall have no duty to inquire as to the performance of the covenants of the
Issuer and/or its Restricted Subsidiaries in Article 4. In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of Default except: (1) any Event of Default occurring pursuant to Section 6.01(a)(1) or
Section 6.01(a)(2) (provided it is acting as Paying Agent); and (2) any Default or Event of Default of which a Responsible Officer shall have received written notification. Delivery of reports, information and documents to the Trustee
under Section 4.03 is for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including
the Issuer’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

(h) The Trustee shall not have any obligation or duty to monitor, determine or inquire as to compliance, and shall not be responsible or
liable for compliance with restrictions on transfer, exchange, redemption, purchase or repurchase, as applicable, of minimum denominations imposed under this Indenture or under applicable law or regulation with respect to any transfer, exchange,
redemption, purchase or repurchase, as applicable, of any interest in any Notes. 
 (i) The rights, privileges, protections, immunities and
benefits given to the Trustee, including, but not limited to, its right to be indemnified and rights to compensation, are extended to, and shall be enforceable by Deutsche Trustee Company Limited in each of its capacities hereunder, Deutsche Bank
Trust Company Americas, Deutsche Bank AG, London Branch, and by Deutsche Bank Luxembourg S.A. and each agent, custodian and other person employed to act hereunder. Absent willful misconduct or negligence, each Paying Agent and Transfer Agent shall
not be liable for acting in good faith on instructions believed by it to be genuine and from the proper party. 
 (j) The Trustee will not
be liable to any person if prevented or delayed in performing any of its obligations or discretionary functions under this Indenture by reason of any present or future law applicable to it, by any governmental or regulatory authority or by any
circumstances beyond its control. 
 (k) The Trustee shall not be liable for any consequential loss (being loss of business, goodwill,
opportunity or profit of any kind) of the Issuer, Successor Company, the Ultimate Parent or any Restricted Subsidiary. 
 (l) The Trustee
shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall
be entitled to examine the books, records and premises of the Issuer personally or by agent or attorney. 
 (m) In the event the Trustee
receives inconsistent or conflicting requests and indemnity from two or more groups of Holders, each representing less than a majority in aggregate principal amount of the Notes then outstanding, pursuant to the provisions of this Indenture, the
Trustee, in its sole discretion, may determine what action, if any, will be taken and shall not incur any liability for its failure to act until such inconsistency or conflict is, in its reasonable opinion, resolved. 

(n) The Trustee may request that the Issuer delivers an Officer’s Certificate setting forth the names of the individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person specified as so authorized in
any such certificate previously delivered and not superseded. 

  
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 (o) In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by acts of war or terrorism involving the United States, the United Kingdom or any member state of the European Monetary Union or any other national or international calamity or
emergency (including natural disasters or acts of God), it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the
circumstances. 
 (p) The Trustee is not required to give any bond or surety with respect to the performance or its duties or the exercise
of its powers under this Indenture or the Notes. 
 (q) The permissive right of the Trustee to take the actions permitted by this Indenture
shall not be construed as an obligation or duty to do so. 
 (r) The Trustee shall have the right to accept and act upon Instructions,
including with respect to fund transfers given pursuant to this Indenture and delivered using Electronic Means. If the Issuer elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such
Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Issuer understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall
conclusively presume that directions that purport to have been sent by an Authorized Person have been sent by such Authorized Person. The Issuer shall be responsible for ensuring that only Authorized Persons transmit such Instructions to the Trustee
and that the Issuer and all Authorized Persons are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Issuer. The Trustee shall not be
liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent Written Instruction
not delivered by Electronic Means. The Issuer agrees: (1) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized
Instructions, and the risk of interception and misuse by third parties; (2) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions by Electronic Means to the Trustee and that
there may be more secure methods of transmitting Instructions than the method(s) selected by the Issuer; (3) that the security procedures (if any) to be followed in connection with its transmission of Instructions by Electronic Means provide to
it a commercially reasonable degree of protection in light of its particular needs and circumstances; and (4) use its reasonable commercial efforts to notify the Trustee upon learning of any compromise or unauthorized use of the security
procedures. 
 (s) The parties hereto accept that some methods of communication are not secure and neither the Trustee, the Security Agent
nor any Agent shall incur any liability for receiving Instructions via any such non-secure method. The Trustee, the Security Agent or any Agent is authorized to comply with and rely upon any such notice, Instructions or other communications believed
by it to have been sent or given by an Authorized Person or an appropriate party to the transaction (or authorized representative thereof). The Issuer or authorized officer of the Issuer shall use all reasonable efforts to ensure that Instructions
transmitted to the Trustee, the Security Agent or any Agent pursuant to this Indenture are complete and correct. Any Instructions shall be conclusively deemed to be valid Instructions from the Issuer or authorized officer of the Issuer to the
Trustee, the Security Agent or any Agent for the purposes of this Indenture. 

  
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 (t) The Trustee may refrain from taking any action in any jurisdiction if the taking of such
action in that jurisdiction would, in its opinion, based upon legal advice in the relevant jurisdiction, be contrary to any law of that jurisdiction or, to the extent applicable, the State of New York. 

(u) At any time that the security granted pursuant to the Notes Collateral Documents has become enforceable and the Holders have given a
direction to the Trustee to enforce such security, the Trustee is not required to give any direction to the Security Agent with respect thereto unless it has been indemnified and/or secured in accordance with Section 7.01(e). In any event, in
connection with any enforcement of such security, the Trustee is not responsible for: 
 (1) any failure of the Security
Agent to enforce such security within a reasonable time or at all; 
 (2) any failure of the Security Agent to pay over the
proceeds of enforcement of the Notes Collateral; 
 (3) any failure of the Security Agent to realize such security for the
best price obtainable; 
 (4) monitoring the activities of the Security Agent in relation to such enforcement; 

(5) taking any enforcement action itself in relation to such security; 

(6) agreeing to any proposed course of action by the Security Agent which could result in the Trustee incurring any liability
for its own account; or 
 (7) paying any fees, costs or expenses of the Security Agent. 

Section 7.03 Individual Rights of Trustee 

The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or any
Affiliate of the Issuer with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days or resign as Trustee hereunder. Any Agent may
do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11. 
 Section 7.04 Trustee’s Disclaimer 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not
be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any provision of this Indenture, it will not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other
than its certificate of authentication. 
 Section 7.05 Notice of Defaults 

If a Default occurs and is continuing and is actually known to the Trustee, the Trustee must give notice of the Default within 90 days after it
occurs. Except in the case of a Default 

  
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in the payment of principal of, premium, if any, interest or Additional Amounts, if any, on any Note, the Trustee may withhold notice if and so long as a committee of its Responsible Officers in
good faith determines that withholding notice is in the interests of the Holders. In addition, the Issuer or the Affiliate Issuer is required to deliver to the Trustee, within 120 days after the end of each fiscal year, a certificate indicating
whether the signers thereof know of any Default that occurred during the previous year. The Issuer or the Affiliate Issuer is also required to deliver to the Trustee, within 30 days after the occurrence thereof, written notice of any events of which
they are aware which would constitute certain Defaults with respect to the Note Guarantors or the Issuer, as applicable, the status of such events and what action the Issuer is taking or proposing to take in respect thereof. 

Section 7.06 [Reserved] 
 Section 7.07
Compensation and Indemnity 
 (a) The Issuer will pay to the Trustee from time to time compensation for its acceptance of this
Indenture and services hereunder as shall be agreed from time to time between them. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. In the event of being requested by the Issuer to
undertake duties which the Trustee reasonably determines to be of an exceptional nature or otherwise outside the scope of the normal duties of the Trustee, the Issuer shall pay to the Trustee such additional remuneration as shall be agreed between
them. The Issuer will reimburse the Trustee promptly upon request for all properly incurred disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses will include the properly
incurred compensation, disbursements and expenses of the Trustee’s agents and counsel. 
 (b) The Issuer will indemnify the Trustee,
the Security Agent and the Agents against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, any Supplemental Indenture, the Notes, the
Priority Agreement any Notes Collateral Document or in any other role performed by Deutsche Bank Trustee Company Limited under said documents, including the costs and expenses of enforcing this Indenture against the Issuer (including this
Section 7.07) and defending itself against any claim (whether asserted by the Issuer, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any
such loss, liability or expense may be attributable to its negligence or bad faith. The Trustee will notify the Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer will not relieve the Issuer
of its obligations hereunder. The Issuer will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and the Issuer will pay the reasonable fees and expenses of such counsel. The Issuer need not pay for
any settlement made without its consent, which consent will not be unreasonably withheld. 
 (c) The obligations of the Issuer under this
Section 7.07 and any claim arising hereunder shall survive the resignation or removal of any Trustee, the satisfaction and discharge of the Issuer’s obligations pursuant to Article 8 and any rejection or termination under any Bankruptcy
Law, and the satisfaction and discharge of this Indenture 
 (d) To secure the Issuer’s payment obligations in this Section 7.07,
the Trustee will have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien will survive the satisfaction and discharge of this
Indenture. 
 (e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(a)(7)
occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any applicable Bankruptcy Law. 

  
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 For the avoidance of doubt, the rights, privileges, protections, immunities and benefits
given, to the Trustee in Section 7.07, including its right to be indemnified, are extended to, and shall be enforceable by the Trustee, in each of its capacities hereunder, by the Security Agent and by each agent (including the Agents),
custodian and other Person employed by the Trustee to act hereunder. 
 Section 7.08 Replacement of Trustee 

(a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in writing at any time and be discharged from
the trust hereby created by so notifying the Issuer. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. The Issuer may remove the
Trustee if: 
 (1) the Trustee fails to comply with Section 7.10; 

(2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the Trustee or its property; or 

(4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer will promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Issuer. 
 (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed,
(1) the retiring Trustee, the Issuer, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee; or (2) the
retiring Trustee may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office; provided that such appointment shall be reasonably satisfactory to the Issuer. 

(e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10,
such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders.
The retiring Trustee will promptly transfer all property held by it as 

  
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 EXHIBIT H 
  

 
Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07. Notwithstanding replacement of
the Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 will continue for the benefit of the retiring Trustee. 

Section 7.09 Successor Trustee by Merger, etc. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act will be the successor Trustee. 
 Section 7.10 Agents; Resignation of Agents 

Any Agent may resign and be discharged from its duties under this Indenture at any time by giving sixty (60) days’ prior written
notice of such resignation to the Trustee and the Issuer. The Trustee or the Issuer may remove any Agent at any time by giving sixty (60) days’ prior written notice to any Agent. Upon such notice, a successor Agent shall be appointed by
the Issuer, who shall provide written notice of such to the Trustee. Such successor Agent shall become the Agent hereunder upon the resignation or removal date specified in such notice. If the Issuer is unable to replace the resigning Agent within
sixty (60) days after such notice, the Agent may, in its sole discretion, deliver any funds then held hereunder in its possession to the Trustee or may apply to a court of competent jurisdiction for the appointment of a successor Agent or for
other appropriate relief. The properly incurred and documented costs and expenses (including its counsels’ fees and expenses) incurred by the Agent in connection with such proceeding shall be paid by the Issuer. Upon receipt of the identity of
the successor Agent, the Agent shall deliver any funds then held hereunder to the successor Agent, less the Agent’s properly incurred and documented fees, costs and expenses or other obligations owed to the Agent. Upon its resignation and
delivery any funds, the Agent shall be discharged of and from any and all further obligations arising in connection with this Indenture, but shall continue to enjoy the benefit of Section 7.07. 

Section 7.11 Eligibility; Disqualification 

There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of
America or of any state thereof or a jurisdiction in the European Union that is authorized under such laws to exercise corporate trustee power and which customarily performs such corporate trustee roles and provides such corporate trustee services
in transactions similar in nature to the offering of the Notes as described in the Offering Memorandum. 
 ARTICLE 8. 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance 

The Issuer may at any time, at the option of its Boards of Directors evidenced by a resolution set forth in an Officer’s Certificate,
elect to have either Section 8.02 or 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge 

(a) Upon the Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.02, the Issuer will, subject to the
satisfaction of the conditions set forth in Section 8.04, be deemed to have been discharged from its obligations with respect to all outstanding 

  
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 EXHIBIT H 
  

 
Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer will be deemed to have
paid and discharged the entire Indebtedness represented by the outstanding Notes, which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 and the other Sections of this Indenture referred to in
clauses (1) and (2) of this Section 8.02(a), and to have satisfied all its other obligations under such Notes and this Indenture (and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments
acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder: 
  

	 	(1)	the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04;

  

	 	(2)	the Issuer’s obligations with respect to such Notes under Article 2 and Section 4.02; 

  

	 	(3)	the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s obligations in connection therewith; and 

 

	 	(4)	this Article 8. 

 (b) Subject to compliance with this Article 8, the Issuer may exercise its
option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03. 
 Section 8.03 Covenant
Defeasance 
 Upon an Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03, the
Issuer will, subject to the satisfaction of the conditions set forth in Section 8.04, be released from its obligations under Sections 3.11, 4.03, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.14, 4.15, 4.16, 4.17, 4.19, 4.21, 4.22, 4.24 and 4.25 and
clauses (3) and (4) of Section 5.01(a) with respect to the outstanding Notes, on and after the date the conditions set forth in Section 8.04 are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will
thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed
“outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the
Issuer may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason
of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01(a), but, except as specified above, the remainder
of this Indenture and such Notes will be unaffected thereby. In addition, upon an Issuer’s exercise under Section 8.01 of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in
Section 8.04, Section 6.01(a)(4) through 6.01(a)(7) (with respect to clause (7), only with respect to Significant Subsidiaries) and 6.01(a)(8) will not constitute Events of Default. 

Section 8.04 Conditions to Legal or Covenant Defeasance 

(a) In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03: 

 

	 	(1)	the Issuer must irrevocably deposit in trust (the “defeasance trust”) with the Trustee (or an agent nominated by the Trustee for such purpose) euro, euro-denominated European Government Obligations or a
combination thereof (in the case of the Euro Notes) and dollars, dollar-denominated U.S. Government Obligations or a combination thereof (in the case of the Dollar Notes) for the payment of principal, premium, if any, interest and Additional
Amounts, if any, on the Notes to redemption or maturity, as the case may be; 

  
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 EXHIBIT H 
  

	 	(2)	in the case of an election under Section 8.02, the Issuer must deliver to the Trustee an Opinion of Counsel (subject to customary exceptions and exclusions) confirming that: 

 

	 	(A)	the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling; or 

  

	 	(B)	since the Issue Date, there has been a change in the applicable federal income tax law, 

 in
either case to the effect that, and based thereon such Opinion of Counsel (subject to customary exceptions and exclusions) shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for U.S. federal income tax
purposes as a result of such Legal Defeasance and will be subject to U.S. federal income tax on the same amount and in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred. In the case of legal
defeasance only, such Opinion of Counsel must be based on a ruling of the U.S. Internal Revenue Service or other change in applicable U.S. federal income tax law; 
  

	 	(3)	in the case of an election under Section 8.03, the Issuer must deliver to the Trustee an Opinion of Counsel (subject to customary exceptions and exclusions) confirming that the Holders of the outstanding Notes will
not recognize income, gain or loss for United States Federal income tax purposes as a result of such Covenant Defeasance and will be subject to United States Federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Covenant Defeasance had not occurred; 

  

	 	(4)	no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the
deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which any Issuer or the Issuer is a party or by which any Issuer or the Issuer is bound; 

 

	 	(5)	such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Issuer or any of its
Subsidiaries is a party or by which the Issuer or any of its Subsidiaries is bound; 

  

	 	(6)	the Issuer must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Issuer with the intent of preferring the Holders of Notes over the other creditors of an Issuer with the
intent of defeating, hindering, delaying or defrauding any creditors of an Issuer or others; and 

  

	 	(7)	the Issuer must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied
with. 

  
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 EXHIBIT H 
  

 Section 8.05 Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous
Provisions 
 (a) Subject to Section 8.06, all money, all European Government Obligations and all U.S. Government Obligations
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 in respect of the outstanding Notes will be
held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including any Issuer acting as Paying Agent) as the Trustee may determine, to
the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

(b) The Issuer will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash in euro or U.S.
dollars or against European Government Obligations or the U.S. Government Obligations deposited pursuant to Section 8.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for
the account of the Holders of the outstanding Notes. 
 (c) Notwithstanding anything in this Article 8 to the contrary, the Trustee will
deliver or pay to the Issuer from time to time upon the request of the Issuer any money, non-callable euro-denominated European Government Obligations or non-callable
U.S. dollar-denominated U.S. Government Obligations held by it as provided in Section 8.04 which, in the opinion of an Independent Financial Advisor expressed in a written certification thereof delivered to the Trustee (which may be the opinion
delivered under Section 8.04(a)(1)), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

Section 8.06 Repayment to Issuer 

Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of,
premium, if any, or interest on, any Note and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Issuer on its request or (if then held by an Issuer) will be
discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Issuer as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may (without an obligation to do so) at the expense of the Issuer cause to be
published once, in a leading newspaper having general circulation in London, notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication,
any unclaimed balance of such money then remaining will be repaid to the Issuer. 
 Section 8.07 Reinstatement 

If the Trustee or any Paying Agent is unable to apply any euro or euro-denominated non-callable European Government Obligations (with respect to the Euro Notes) or U.S. dollar or U.S. dollar-denominated non-callable U.S. Government Obligations in accordance with Section 8.02 or 8.03, as the
case may be, by reason of any order or judgment of any 

  
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 EXHIBIT H 
  

 
court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s obligations under this Indenture and the Notes will be revived and
reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03, as the case may be; provided,
however, that, if the Issuer make any payment of principal of, premium, if any, or interest on, any Note following the reinstatement of its obligations, the Issuer will be subrogated to the rights of the Holders of such Notes to receive such
payment from the money held by the Trustee or Paying Agent. 
 ARTICLE 9. 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01 Without Consent of Holders of Notes 

(a) Notwithstanding Section 9.02 of this Indenture, without the consent of any Holder, this Indenture, the Notes, the Note Guarantees, the
Notes Collateral Documents, the Priority Agreement and any Additional Priority Agreement may be amended to: 
  

	 	(1)	cure any ambiguity, omission, manifest error, defect or inconsistency; 

  

	 	(2)	provide for the assumption by a Successor Company of the obligations of the Issuer, the Affiliate Issuer or another Note Guarantor under the Priority Agreement, any Additional Priority Agreement and the Notes Collateral
Documents; 

  

	 	(3)	provide for uncertificated Notes in addition to or in place of certificated Notes; 

  

	 	(4)	add guarantees with respect to the Notes; 

  

	 	(5)	secure the Notes or the Note Guarantees or enter into additional or supplemental Notes Collateral Documents; 

  

	 	(6)	add to the covenants of the Issuer or the Affiliate Issuer and the Restricted Subsidiaries for the benefit of the Holders or the Notes, or surrender any right or power conferred upon the Issuer, the Affiliate Issuer and
the Restricted Subsidiaries under this Indenture, the Notes or the Notes Collateral Documents; 

  

	 	(7)	make any change that does not adversely affect the rights of any Holder in any material respect; 

  

	 	(8)	release the Notes Collateral as provided by the terms of this Indenture; 

  

	 	(9)	provide for the issuance of Additional Notes in accordance with the terms of this Indenture; 

  

	 	(10)	give effect to Permitted Collateral Liens; 

  

	 	(11)	release any Note Guarantee in accordance with the terms of this Indenture; 

  

	 	(12)	evidence and provide for the acceptance of the appointment of a successor Trustee or Security Agent under this Indenture; 

  

	 	(13)	to the extent reasonably required to allow for the Related Transactions; 

  
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 EXHIBIT H 
  

	 	(14)	to the extent necessary to grant a Lien for the benefit of any Person; provided that the granting of such Lien is permitted by this Indenture or the Notes Collateral Documents; 

 

	 	(15)	make any amendment to the provisions of this Indenture relating to the transfer and legending of Notes as permitted by this Indenture, including, without limitation to facilitate the issuance and administration of the
Notes; provided, however, that (a) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any applicable securities law and (b) such amendment does not
materially and adversely affect the rights of Holders to transfer Notes; 

  

	 	(16)	conform the text of this Indenture, the Notes, the Notes Collateral Documents, the Note Guarantees, the Priority Agreement and any Additional Priority Agreement, to any provision of the “Description of the Fold-In
Notes” section in the Offering Memorandum to the extent that such provision in the “Description of the Fold-In Notes” section in the Offering Memorandum was intended to be a verbatim recitation thereof; or 

 

	 	(17)	give effect to any amendment to the Priority Agreement that is permitted under the Senior Facility Agreement (as in effect on the Issue Date), including to provide for the release of the Asset Collateral in accordance
with the terms of the Senior Facility Agreement (as in effect on the Issue Date). 

 (b) The Trustee shall be entitled to
require and rely absolutely on such evidence as it deems appropriate, including an Opinion of Counsel and an Officer’s Certificate of the Issuer or the Affiliate Issuer, as applicable. 

(c) The consent of the Holders is not necessary under this Indenture to approve the particular form of any proposed amendment. It is
sufficient if such consent approves the substance of the proposed amendment. A consent to any amendment or waiver under this Indenture by any Holder of Notes given in connection with a tender of such Holder’s Notes will not be rendered
invalid by such tender. For so long as the Notes are listed on the Irish Stock Exchange and the guidelines of such Stock Exchange so require, the Issuer or the Affiliate Issuer will notify the Irish Stock Exchange of any such amendment, supplement
and waiver. 
 (d) Upon the request of the Issuer accompanied by a resolution of their respective Board of Directors authorizing the
execution of any such amended or supplemental Indenture, and upon receipt by the Trustee of the documents described in Section 7.02, the Trustee will join with the Issuer in the execution of any amended or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that adversely affects
its own rights, duties or immunities under this Indenture or otherwise. 
 Section 9.02 With Consent of Holders of Notes 

Except as provided below in this Section 9.02, the Issuer and the Trustee may amend or supplement this Indenture (including, without
limitation, Section 3.11, 4.10 and 4.14), the Notes, the Notes Collateral Documents, the Note Guarantees, the Priority Agreement and any Additional Priority Agreement and with the consent of the Holders of at least a majority in aggregate
principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or a tender offer or exchange

  
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 EXHIBIT H 
  

 
offer for, the Notes), and, subject to Sections 6.04 and 6.07, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if
any, or interest on, the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or the Notes may be amended or supplemented with the consent of the Holders of a
majority in principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or
exchange offer for the Notes; provided, however, that if any amendment, waiver or other modification will only affect the Euro Notes or the Dollar Notes, only the consent of the Holders of at least a majority in principal amount of the then
outstanding Euro Notes or Dollar Notes (and not the consent of at least a majority of all Notes then outstanding), as the case may be, shall be required. 

For purposes of determining whether the Holders of the requisite principal amount of Notes have taken any action under this Indenture (other
than with respect to a determination that only effects the Dollar Notes), the principal amount of Dollar Notes shall be deemed to be the Euro Equivalent of such principal amount of such Dollar Notes as of (a) if a record date has been set with
respect to the taking of such action, such date or (b) if no such record date has been set, the date the taking of such action by the Holders of such requisite principal amount is certified to the Trustee by the Issuer or the Affiliate Issuer.

 Upon the request of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or
supplemental Indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02, the Trustee
will join with the Issuer in the execution of such amended or supplemental Indenture unless such amended or supplemental indenture directly adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in
which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 
 It is not
necessary for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof. 

Any past default or compliance with any provisions of this Indenture, the Notes, the Notes Collateral Documents, the Note Guarantees, the
Priority Agreement and any Additional Priority Agreement may be waived with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding voting as a single class (including, without limitation, consents
obtained in connection with a purchase of, or tender offer or exchange offer for, Notes); provided, however that if any amendment, waiver or other modification will only affect the Euro Notes or the Dollar Notes only the consent of the
Holders of at least a majority in principal amount of the then outstanding Euro Notes or Dollar Notes (and not the consent of at least a majority of all Notes then outstanding), as the case may be, shall be required. However, without the consent of
the Holders of at least 90% of the aggregate principal amount of then outstanding Notes, (provided, however that if any amendment, waiver or other modification will only affect the Euro Notes or the Dollar Notes only the consent of the Holders of at
least 90% of the aggregate principal amount of the then outstanding Euro Notes or Dollar Notes (and not the consent of at least 90% of the aggregate principal amount of all the Notes then outstanding), as the case may be, shall be required), an
amendment, supplement or waiver under this Section 9.02 may not: 
  

	 	(1)	reduce the principal amount of Notes whose Holders must consent to an amendment or waiver; 

  
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 EXHIBIT H 
  

	 	(2)	reduce the stated rate of or extend the stated time for payment of interest or Additional Amounts on any Note; 

  

	 	(3)	reduce the principal of or extend the Stated Maturity of any Note; 

  

	 	(4)	whether through an amendment or waiver of provisions in the covenants, definitions or otherwise (i) reduce the premium payable upon the redemption of any Note or change the time at which any Note may be redeemed
under Section 3.07 (other than the notice provisions) or (ii) reduce the premium payable upon repurchase of any Note or change the time at which any Note is to be repurchased pursuant to Section 3.11, Section 4.10 or
Section 4.14, at any time after the obligation to repurchase has arisen; 

  

	 	(5)	make any Note payable in money other than that stated in the Note (except to the extent the currency stated in the Notes has been succeeded or replaced pursuant to applicable law); 

 

	 	(6)	impair the right of any Holder to receive payment of, premium, if any, principal of or interest or Additional Amounts, if any, on such Holder’s Notes on or after the due dates therefor or to institute suit for the
enforcement of any payment on or with respect to such Holder’s Notes; or 

  

	 	(7)	make any change to this Section 9.02. 

 In addition, without the consent of at least 75%
in aggregate principal amount of Notes then outstanding (provided, however that if any amendment, waiver or other modification will only affect the Euro Notes or the Dollar Notes only the consent of the Holders of at least 75% of the
aggregate principal amount of the then outstanding Euro Notes or Dollar Notes (and not the consent of at least 75% of the aggregate principal amount of all the Notes then outstanding), as the case may be, shall be required), no amendment or
supplement may: 
  

	 	(1)	release any Note Guarantor from any of its obligations under its Note Guarantee or modify any Note Guarantee, except, in each case, in accordance with the terms of this Indenture and the Priority Agreement; or

  

	 	(2)	modify any Notes Collateral Document or the provisions in this Indenture dealing with the Notes Collateral Documents or application of trust moneys in any manner, taken as a whole, materially adverse to the Holders or
otherwise release all or substantially all of the Notes Collateral other than pursuant to the terms of the Notes Collateral Documents, the Priority Agreement, any Additional Priority Agreement, as applicable, or as otherwise permitted by this
Indenture. 

 Section 9.03 Revocation and Effect of Consents 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a
Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms
and thereafter binds every Holder; provided however that if an amendment supplement or waiver or other modification affects only the Euro Notes or the 

  
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 EXHIBIT H 
  

 
Dollar Notes, as the case may be, and such amendment, supplement or waiver becomes effective in accordance with its terms, then such amendment, supplement or waiver shall only bind the Holder of
the Euro Notes or the Dollar Notes, as applicable, unless consented to otherwise by the Holders of such other Notes then outstanding pursuant to the terms of this Indenture. 

Section 9.04 Notation on or Exchange of Notes 

The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in
exchange for all Notes may issue and the Authenticating Agent shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 

Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.

 Section 9.05 Trustee to Sign Amendments, etc. 

The Trustee will sign any amended or supplemental Indenture authorized pursuant to this Article 9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuer may not sign an amended or supplemental Indenture until the Board of Directors of each Issuer approves it. In executing any amended or supplemental Indenture,
the Trustee will be entitled to receive and (subject to Section 7.01) will be fully protected in relying upon, in addition to the documents required by Section 14.03, an Officer’s Certificate and an Opinion of Counsel stating that the
execution of such amended or supplemental Indenture is authorized or permitted by or not in breach of this Indenture and that such amendment is the legal, valid and binding obligation of the Issuer enforceable against them in accordance with its
terms, subject to customary exceptions, and complies with the provisions of this Indenture. 
 ARTICLE 10. 

GUARANTEES 
 Section 10.01 Releases.

 The Issuer will not cause or permit, directly or indirectly, any Note Guarantee to be released other than: 

(1) upon the sale or other disposition of all or substantially all of the Capital Stock of the relevant Note Guarantor pursuant
to an Enforcement Sale; 
 (2) upon the sale or other disposition (including through merger or consolidation but other than
pursuant to an Enforcement Sale) in compliance with this Indenture of the Capital Stock of the relevant Note Guarantor (whether directly or through the disposition of a parent thereof), following which transaction such Note Guarantor is no longer a
Restricted Subsidiary or Affiliate Subsidiary (other than a sale or other disposition to the Issuer, the Affiliate Issuer or a Restricted Subsidiary); 

(3) in the case of a Note Guarantor that is prohibited or restricted by applicable law from guaranteeing the Notes (other than
customary legal and contractual limitations on the Note Guarantee of such Note Guarantor substantially similar to those provided for in this Indenture in respect of the Note Guarantees), provided that such Note Guarantee will be released as a whole
or in part to the extent it is necessary to achieve compliance with such prohibition or restriction; 

  
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 (4) if any Restricted Subsidiary that is a Note Guarantor is designated as an
Unrestricted Subsidiary in accordance with Section 4.07; 
 (5) upon Legal Defeasance, Covenant Defeasance or
satisfaction and discharge of the Notes and this Indenture as provided in Articles 8 or 13, respectively; 
 (6) with respect
to an Additional Note Guarantee given given pursuant to Section 4.15, upon release of the guarantee that gave rise to the requirement to issue such Additional Note Guarantee so long as no Event of Default would arise as a result and no other
Indebtedness that would give rise to an obligation to give an Additional Note Guarantee is at that time guaranteed by the relevant Note Guarantor; 

(7) as a result of a transaction permitted by, and in compliance with Section 5.01; 

(8) if such Note Guarantor is an Affiliate Subsidiary and such Affiliate Subsidiary becomes a Subsidiary of or is merged into
or with the Issuer, the Affiliate Issuer, another Restricted Subsidiary of the Issuer or the Affiliate Issuer which is not an Affiliate Subsidiary, the Affiliate Issuer or a Note Guarantor; 

(9) as described under Article 9; or 

(10) upon the full and final payment and performance of all obligations of the Issuer this Indenture and the Notes. 

Section 10.02 Affiliate Issuer and Affiliate Subsidiaries 

The Issuer may from time to time designate an Affiliate as an Affiliate Issuer (each an “Affiliate Issuer”) by causing it to
execute and deliver a supplemental indenture to this Indenture whereby the Affiliate Issuer will provide a Note Guarantee (the “Affiliate Issuer Guarantee”) and accede as an Affiliate Issuer (the “Affiliate Issuer
Accession”), provided that, prior to or immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing. 

Concurrently with the Affiliate Issuer Accession, the Parent of the Affiliate Issuer will enter into a pledge of all of the issued Capital
Stock of the Affiliate Issuer (which will rank pari passu with the share pledges included in the Notes Collateral taking into account the Priority Agreement) as security for the Affiliate Issuer Guarantee. In this Indenture, references to the
Affiliate Issuer include all Affiliate Issuers so designated from time to time. 
 The Issuer may from time to time designate an Affiliate
as an Affiliate Subsidiary by causing it to execute and delivery to the Trustee a supplemental indenture to this Indenture where by the Affiliate Subsidiary will provide a Note Guarantee, provided that, prior to or immediately after giving effect to
such transaction, no Default or Event of Default shall have occurred and be continuing. 
 ARTICLE 11. 

SECURITY 
 Section 11.01 Notes Collateral
Documents 
 The due and punctual payment of the principal of and premium, interest and Additional Amounts, if any, on the Notes when and
as the same shall be due and payable, and of the Parallel Debt, whether on an Interest Payment Date, at maturity, by acceleration, 

  
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 EXHIBIT H 
  

 
repurchase, redemption or otherwise, and interest on the overdue principal of and interest and Additional Amounts (to the extent permitted by law), if any, on the Notes and the Parallel Debt, and
performance of all other monetary obligations of the Issuer to the Holders of Notes or the Trustee under this Indenture or the Notes, according to the terms hereunder or thereunder, are secured as provided in the Notes Collateral Documents, the
Priority Agreement and any Additional Priority Agreement. Each Holder of Notes, by its acceptance thereof, consents and agrees to the terms of the Notes Collateral Documents, the Priority Agreement and any Additional Priority Agreement as the same
may be in effect or may be amended from time to time in accordance with their terms, and authorizes and directs the Trustee and the Security Agent to enter into the Notes Collateral Documents, the Priority Agreement and any Additional Priority
Agreement and to perform their respective obligations and exercise their respective rights thereunder in accordance therewith. The Issuer will deliver to the Trustee copies of all documents delivered to the Security Agent pursuant to the Notes
Collateral Documents, the Priority Agreement and any Additional Priority Agreement. The Issuer will take, upon request of the Trustee or the Security Agent, any and all actions reasonably required to cause the Notes Collateral Documents, the
Priority Agreement and any Additional Priority Agreement to create and maintain, as security for the obligations of the Issuer hereunder, a valid and enforceable perfected Lien in and on the relevant Notes Collateral in favor of the Security Agent.

 Section 11.02 Release of Notes Collateral 

The Notes Collateral will be automatically and unconditionally released and discharged: 

 

	 	(10)	upon the sale or other disposition of any Notes Collateral pursuant to an Enforcement Sale; 

  

	 	(11)	if the Notes Collateral is the Capital Stock of, or an asset of, a Note Guarantor or any of its Subsidiaries, in connection with any sale or disposition of Capital Stock of that Note Guarantor or Subsidiary to a Person
that is not (either before or after giving effect to such transaction) the Issuer, the Affiliate Issuer or a Restricted Subsidiary, provided that such sale or disposition is in compliance with this Indenture, including Section 4.10, or if the
applicable Subsidiary of which such Capital Stock or assets are pledged is designated as an Unrestricted Subsidiary in compliance with Section 4.07; 

  

	 	(12)	to release and/or re-take any Lien under the Notes Collateral Documents to the extent otherwise permitted by the terms of this Indenture, the Notes Collateral Documents or the Priority Agreement; 

 

	 	(13)	if the Notes Collateral is owned by a Note Guarantor that is released from its Note Guarantee in accordance with the terms of this Indenture; 

 

	 	(14)	as described in Article 9; 

  

	 	(15)	in connection with Section 5.01; provided that any other Lien on such property or assets that secures any other Indebtedness of the Issuer or the Affiliate Issuer is simultaneously released;

  

	 	(16)	with the consent of Holders of at least seventy-five percent (75%) in aggregate principal amount of the Notes (including, without limitation, consents obtained in connection with a tender offer or exchange offer
for, or purchase of, the Notes); and 

  

	 	(17)	upon the full and final payment and performance of all obligations of the Issuer under this Indenture and the Notes. 

  
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 EXHIBIT H 
  

 In addition, the Liens created by the Notes Collateral Documents will be released in
accordance with the Notes Collateral Documents and the Priority Agreement. 
 Section 11.03 Authorization of Actions to Be Taken by the Security
Agent 
 Subject to the provisions of Section 7.01 and 7.02, the Security Agent may, at the direction and for the benefit of the
Trustee or the requisite Holders, take all actions it deems necessary or appropriate in order to: 
  

	 	(1)	enforce any of the terms of the Notes Collateral Documents; 

  

	 	(2)	release any Lien created by any Notes Collateral Document or Note Guarantees in accordance with the terms of this Indenture or the Priority Agreement; and 

 

	 	(3)	collect and receive any and all amounts payable in respect of the obligations of any Issuer or Note Guarantor hereunder. 

The Security Agent, at the direction and for the benefit of the Trustee or the requisite Holders, will have power to institute and maintain
such suits and proceedings as it may deem expedient to prevent any impairment of the Notes Collateral by any acts that may be unlawful or in violation of the Notes Collateral Documents, the Priority Agreement, any Additional Priority Agreement or
this Indenture, and such suits and proceedings as the Security Agent may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Collateral (including power to institute and maintain suits or proceedings
to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security
interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Trustee). 
 Notwithstanding any other provision of
this Indenture, neither the Trustee nor the Security Agent has any responsibility for the validity, perfection, priority or enforceability of any Lien, Notes Collateral Document or other security interest and shall have no obligation to take any
action to procure or maintain such validity, perfection, priority or enforceability. 
 Section 11.04 Authorization of Receipt of Funds by the
Security Agent Under the Notes Collateral Documents 
 The Security Agent is authorized to receive any funds for the benefit of the
Holders of Notes distributed under the Notes Collateral Documents, and to make further distributions of such funds to the Trustee, for further distribution to the Holders of Notes according to the provisions of this Indenture and the Notes
Collateral Documents. All such payments to the Security Agent, or upon its order, shall be valid and, to the extent of the same so paid, effective to satisfy and discharge the liability for moneys payable under the Notes, this Indenture and the
Notes Collateral Documents. 

  
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 EXHIBIT H 
  

 Section 11.05 Waiver of subrogation 

Each Issuer and Grantor under the Notes Collateral Documents agrees that it shall not exercise any right of subrogation in relation to the
Holders in respect of any obligations secured pursuant to the Notes Collateral Documents until payment in full of all obligations secured thereby. 

Section 11.06 Termination of Security Interest 

Upon the payment in full of all obligations of the Issuer under this Indenture and the Notes, or upon Legal Defeasance, the Trustee will, at
the request of the Issuer, deliver a certificate to the Security Agent stating that such obligations have been paid in full, and instruct the Security Agent to release the Liens pursuant to this Indenture and the Notes Collateral Documents. 

ARTICLE 12. 
 SATISFACTION
AND DISCHARGE 
 Section 12.01 Satisfaction and Discharge 

(a) This Indenture, the Notes Collateral Documents, and, subject to Section 7.07, the rights, duties and obligations of the Trustee and
the Holders under the Priority Agreement or any Additional Priority Agreement will be discharged and will cease to be of further effect as to all Notes issued hereunder, or as to the Euro Notes or Dollar Notes, as applicable, when: 

 

	 	(1)	either: 

  

	 	(A)	all Notes (or all Euro Notes or Dollar Notes, as applicable) that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has been deposited in
trust and thereafter repaid to the Issuer, have been delivered to a Paying Agent or Registrar for cancellation; or 

  

	 	(B)	(i) all Notes (or all Euro Notes or Dollar Notes, as applicable) that have not been delivered to a Paying Agent or Registrar for cancellation (a) have become due and payable by reason of the mailing or delivery of
a notice of redemption or otherwise or (b) will become due and payable within one year and (ii) the Issuer has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders,
with respect to the Euro Notes, cash, Cash Equivalents, European Government Obligations, or a combination thereof, in each case, denominated in euro and, with respect to the Dollar Notes, cash, Cash Equivalents, U.S. Government Obligations or a
combination thereof, in each case, denominated in U.S. dollars, in amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to a Paying Agent or
Registrar for cancellation for principal, premium and Additional Amounts (if any) and accrued interest to the date of maturity or redemption; 

  

	 	(2)	the Issuer has paid or caused to be paid all other amounts (other than those paid or deposited or caused to be deposited in accordance with clause (1) of this Section 12.01(a)) payable by it under this
Indenture; and 

  

	 	(3)	the Issuer has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes (or the Euro Notes or Dollar Notes, as applicable) at maturity or on the
Redemption Date, as the case may be. 

  
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 EXHIBIT H 
  

 (b) In addition, the Issuer must deliver to the Trustee an Officer’s Certificate and an
Opinion of Counsel, in each case stating that all conditions precedent to satisfaction and discharge have been satisfied. 
 (c)
Notwithstanding the satisfaction and discharge of this Indenture if money has been deposited with the Trustee pursuant to Section 12.01(a)(1)(B), the provisions of Sections 11.02 and 8.06 will survive. In addition, nothing in this
Section 12.01 will be deemed to discharge those provisions of Section 7.07, that, by their terms, survive the satisfaction and discharge of this Indenture. 

Section 12.02 Application of Trust Money 

Subject to the provisions of Section 8.06, all money deposited with the Trustee pursuant to Section 12.01 shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including any Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law. 

If the Trustee or Paying Agent is unable to apply euro or euro-denominated non-callable European Government Obligations in accordance with Section 12.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.01; provided that if the
Issuer has made any payment of principal of, premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from euro or euro-denominated non-callable European Government Obligations held by the Trustee or Paying Agent. 

  
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