Document:

EX-4.1

 Exhibit 4.1 

Execution Copy 
  

 
 Twenty-Eighth Supplemental
Indenture 
 Dated as of December 1, 2016 

Supplement to the Amended and Restated Indenture 

Dated as of April 22, 2005 
  

 
 PACIFIC GAS
AND ELECTRIC COMPANY 
 Issuer 

and 
 THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A. 
 Trustee 
  

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	2	  
		
	 ARTICLE II ESTABLISHMENT OF THE FLOATING RATE SENIOR NOTES; TERMS
	  	 	4	  
			
	 SECTION 201
	 	 Establishment and Designation of the Floating Rate Senior Notes
	  	 	4	  
			
	 SECTION 202
	 	 Form of the Floating Rate Senior Notes
	  	 	5	  
			
	 SECTION 203
	 	 Principal Amount of the Floating Rate Senior Notes
	  	 	5	  
			
	 SECTION 204
	 	 Interest Rates; Stated Maturity of the Floating Rate Senior Notes
	  	 	5	  
			
	 SECTION 205
	 	 No Sinking Fund
	  	 	5	  
			
	 SECTION 206
	 	 No Redemption
	  	 	5	  
			
	 SECTION 207
	 	 Paying Agent and Bond Registrar
	  	 	5	  
			
	 SECTION 208
	 	 Calculation Agent
	  	 	6	  
			
	 SECTION 209
	 	 Global Securities; Appointment of Depositary for Global Securities
	  	 	6	  
			
	 SECTION 210
	 	 Other Terms of the Floating Rate Senior Notes
	  	 	6	  
		
	 ARTICLE III ESTABLISHMENT OF THE 4.00% SENIOR NOTES; TERMS
	  	 	6	  
			
	 SECTION 301
	 	 Establishment and Designation of the 4.00% Senior Notes
	  	 	6	  
			
	 SECTION 302
	 	 Form of the 4.00% Senior Notes
	  	 	7	  
			
	 SECTION 303
	 	 Principal Amount of the 4.00% Senior Notes
	  	 	7	  
			
	 SECTION 304
	 	 Interest Rates; Stated Maturity of the 4.00% Senior Notes; Minimum Denomination
	  	 	7	  
			
	 SECTION 305
	 	 No Sinking Fund
	  	 	7	  
			
	 SECTION 306
	 	 Paying Agent and Bond Registrar
	  	 	7	  
			
	 SECTION 307
	 	 Global Securities; Appointment of Depositary for Global Securities
	  	 	7	  
			
	 SECTION 308
	 	 Optional Redemption of the 4.00% Senior Notes
	  	 	8	  
			
	 SECTION 309
	 	 Other Terms of the 4.00% Senior Notes
	  	 	9	  
		
	 ARTICLE IV MISCELLANEOUS
	  	 	9	  
			
	 SECTION 401
	 	 Concerning the Trustee
	  	 	9	  
			
	 SECTION 402
	 	 Application of Twenty-Eighth Supplemental Indenture
	  	 	9	  
			
	 SECTION 403
	 	 Effective Date of Twenty-Eighth Supplemental Indenture
	  	 	9	  
			
	 SECTION 404
	 	 Counterparts
	  	 	9	  
		
	 EXHIBIT A
	  			
	 EXHIBIT B
	  			

  
 i 

 TWENTY-EIGHTH SUPPLEMENTAL INDENTURE, dated as of December 1, 2016 (this “Twenty-Eighth
Supplemental Indenture”), by and between PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of California (the “Company” or the “Issuer”), and THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A., a national banking association organized and existing under the laws of the United States of America (formerly known as The Bank of New York Trust Company, N.A.), as Trustee under the Base Indenture (as
hereinafter defined) (the “Trustee”). 
 RECITALS OF THE COMPANY 

A. The Company and the Trustee are parties to that certain Amended and Restated Indenture, dated as of April 22, 2005 (the “Base
Indenture”), as supplemented by the First Supplemental Indenture, dated as of March 13, 2007 (the “First Supplemental Indenture”), the Second Supplemental Indenture, dated as of December 4, 2007 (the “Second
Supplemental Indenture”), the Third Supplemental Indenture, dated as of March 3, 2008 (the “Third Supplemental Indenture”), the Fourth Supplemental Indenture, dated as of October 21, 2008 (the “Fourth Supplemental
Indenture”), the Fifth Supplemental Indenture, dated as of November 18, 2008 (the “Fifth Supplemental Indenture”), the Sixth Supplemental Indenture, dated as of March 6, 2009 (the “Sixth Supplemental Indenture”),
the Seventh Supplemental Indenture, dated as of June 11, 2009 (the “Seventh Supplemental Indenture”), the Eighth Supplemental Indenture, dated as of November 18, 2009 (the “Eighth Supplemental Indenture”), the Ninth
Supplemental Indenture, dated as of April 1, 2010 (the “Ninth Supplemental Indenture”), the Tenth Supplemental Indenture, dated as of September 15, 2010 (the “Tenth Supplemental Indenture”), the Eleventh Supplemental
Indenture, dated as of October 12, 2010 (the “Eleventh Supplemental Indenture”), the Twelfth Supplemental Indenture, dated as of November 18, 2010 (the “Twelfth Supplemental Indenture”), the Thirteenth Supplemental
Indenture, dated as of May 13, 2011 (the “Thirteenth Supplemental Indenture”), the Fourteenth Supplemental Indenture, dated as of September 12, 2011 (the “Fourteenth Supplemental Indenture”), the Fifteenth Supplemental
Indenture, dated as of November 22, 2011 (the “Fifteenth Supplemental Indenture”), the Sixteenth Supplemental Indenture, dated as of December 1, 2011 (the “Sixteenth Supplemental Indenture”), the Seventeenth
Supplemental Indenture, dated as of April 16, 2012 (the “Seventeenth Supplemental Indenture”), the Eighteenth Supplemental Indenture, dated as of August 16, 2012 (the “Eighteenth Supplemental Indenture”), the Nineteenth
Supplemental Indenture, dated as of June 14, 2013 (the “Nineteenth Supplemental Indenture”), the Twentieth Supplemental Indenture, dated as of November 12, 2013 (the “Twentieth Supplemental Indenture”), the Twenty-First
Supplemental Indenture, dated as of February 21, 2014 (the “Twenty-First Supplemental Indenture”), the Twenty-Second Supplemental Indenture, dated as of May 12, 2014 (the “Twenty-Second Supplemental Indenture”), the
Twenty-Third Supplemental Indenture, dated as of August 18, 2014 (the “Twenty-Third Supplemental Indenture”), the Twenty-Fourth Supplemental Indenture, dated as of November 6, 2014 (the “Twenty-Fourth Supplemental
Indenture”), the Twenty-Fifth Supplemental Indenture, dated as of June 12, 2015 (the “Twenty-Fifth Supplemental Indenture”), the Twenty-Sixth Supplemental Indenture, dated as of November 5, 2015 (the “Twenty-Six
Supplemental Indenture”), the Twenty-Seventh Supplemental Indenture, dated as of March 1, 2016 (the “Twenty-Seventh Supplemental Indenture”), and this Twenty-Eighth Supplemental Indenture (this “Twenty-Eighth Supplemental
Indenture,” and together with the Base Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth 

 
Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental Indenture, the Seventh Supplemental Indenture, the Eighth Supplemental Indenture, the Ninth Supplemental
Indenture, the Tenth Supplemental Indenture, the Eleventh Supplemental Indenture, the Twelfth Supplemental Indenture, the Thirteenth Supplemental Indenture, the Fourteenth Supplemental Indenture, the Fifteenth Supplemental Indenture, the Sixteenth
Supplemental Indenture, the Seventeenth Supplemental Indenture, the Eighteenth Supplemental Indenture, the Nineteenth Supplemental Indenture, the Twentieth Supplemental Indenture and the Twenty-First Supplemental Indenture, the Twenty-Second
Supplemental Indenture, the Twenty-Third Supplemental Indenture, the Twenty-Fourth Supplemental Indenture, the Twenty-Fifth Supplemental Indenture, and the Twenty-Sixth Supplemental Indenture, the Twenty-Seventh Supplemental Indenture, the
“Indenture”), which supplements, amends and restates that certain Indenture of Mortgage, dated as of March 11, 2004, as supplemented by the First Supplemental Indenture thereto, dated as of March 23, 2004 and the Second
Supplemental Indenture thereto, dated as of April 12, 2004, providing for the issuance by the Company of an unlimited number of series of Bonds (as defined in the Base Indenture) from time to time. 

B. Under the Base Indenture, the Company is authorized to establish one or more series of Bonds at any time in accordance with and subject to
the provisions of the Base Indenture, and the terms of such series of Bonds may be described by a supplemental indenture executed by the Company and the Trustee. 

C. The execution and delivery of this Twenty-Eighth Supplemental Indenture has been authorized by a Board Resolution (as defined in the Base
Indenture). 
 D. Concurrent with the execution hereof, the Company has caused its counsel to deliver to the Trustee an Opinion of Counsel
(as defined in the Base Indenture) pursuant to Section 13.03 of the Base Indenture, together with the documents required under Article V of the Base Indenture. 

E. The Company has done all things necessary to make this Twenty-Eighth Supplemental Indenture a valid agreement of the Company, in accordance
with its terms. 
 NOW, THEREFORE, the Company and the Trustee agree, for the benefit of each other and for the equal and proportionate
benefit of Holders of the Floating Rate Senior Notes and the 4.00% Senior Notes (each as defined below) with respect to all provisions herein applicable to each such series of notes, as follows: 

ARTICLE I 
 DEFINITIONS

 Unless the context otherwise requires, capitalized terms used but not defined herein have the meaning set forth in the Indenture. The
following additional terms are hereby established for purposes of this Twenty-Eighth Supplemental Indenture and shall have the meanings set forth in this Twenty-Eighth Supplemental Indenture only for purposes of this Twenty-Eighth Supplemental
Indenture: 
 “4.00% Senior Notes” has the meaning set forth in Section 301 hereto. 

  
 2 

 “Adjusted Treasury Rate” means, with respect to any Redemption Date for any
4.00% Senior Notes, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. 
 “Calculation Agency Agreement” means the Calculation Agency
Agreement, dated as of December 1, 2016, by and between the Company and the Calculation Agent, as such agreement may be amended, modified or supplemented from time to time. 

“Calculation Agent” means The Bank of New York Mellon Trust Company, N.A. or such other Person as the Company shall from time
to time designate in accordance with the Calculation Agency Agreement. 
 “Comparable Treasury Issue” means the United
States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the 4.00% Senior Notes to be redeemed, assuming, for such purpose, that the 4.00% Senior Notes matured on June 1, 2046 (the date
that is six months prior to the maturity date) (the “remaining term”), that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term. 
 “Comparable Treasury Price” means, with respect to any Redemption Date for any 4.00%
Senior Notes, (1) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations or (2) if the Company obtains fewer than four Reference
Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received. 
 “Floating Rate Senior
Notes” has the meaning set forth in Section 201 hereto. 
 “Original Issue Date” means December 1, 2016.

 “Primary Treasury Dealer” means a primary U.S. Government Securities dealer in the United States. 

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

“Redemption Price” means the price at which 4.00% Senior Notes may be redeemed pursuant to Section 308(a) or
Section 308(b) hereto, as applicable. 
 “Reference Treasury Dealer” means (1) each of Citigroup Global Markets
Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Mizuho Securities USA Inc., and their respective successors, unless any of them ceases to be a Primary Treasury Dealer, in which case the Company shall
substitute another Primary Treasury Dealer; and (2) any other Primary Treasury Dealer selected by the Company. 
 “Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage 

  
 3 

 
of its principal amount) quoted in writing to the Company by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. For
purposes of this definition only, “Business Day” means any day that is not a day on which banking institutions in New York City are authorized or required by law or regulation to close. 

“Remaining Scheduled Payments” means, with respect to each of the 4.00% Senior Notes that the Company is redeeming pursuant
to Section 308(a) hereto, the remaining scheduled payments of principal and interest that would be due after the applicable Redemption Date if such 4.00% Senior Notes were not redeemed. However, if the Redemption Date is not a scheduled
Interest Payment Date with respect to such 4.00% Senior Notes, the amount of the next succeeding scheduled interest payment on such 4.00% Senior Notes will be reduced by the amount of interest accrued on such 4.00% Senior Notes to the Redemption
Date. 
 “U.S. Government Securities” means securities which are (a) direct obligations of the United States of
America for the payment on which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally
guaranteed as a full faith and credit obligation of the United States of America, and which in the case of (a) and (b) are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued
by a bank or trust company as custodian with respect to any such U.S. Government Security or a specific payment of interest on or principal of any such U.S. Government Security held by such custodian for the account of the holder of a depository
receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government
Security evidenced by such depositary receipt. 
  

 
 The words
“herein,” “hereof” and “hereunder” and other words of similar import refer to this Twenty-Eighth Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

ARTICLE II 

ESTABLISHMENT OF THE FLOATING RATE SENIOR NOTES; TERMS 

SECTION 201 Establishment and Designation of the Floating Rate Senior Notes. 

Pursuant to the terms hereof and Section 3.01 of the Indenture, the Company hereby establishes a fifty-first series of Bonds designated
as the “Floating Rate Senior Notes due November 30, 2017” (the “Floating Rate Senior Notes”). The Floating Rate Senior Notes may be reopened, from time to time, for issuances of additional Bonds of such series, and any
additional Bonds issued and comprising Floating Rate Senior Notes shall have identical terms as the Floating Rate Senior Notes, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

  
 4 

 SECTION 202 Form of the Floating Rate Senior Notes. 

The Floating Rate Senior Notes shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit A
hereto. 
 SECTION 203 Principal Amount of the Floating Rate Senior Notes. 

The Floating Rate Senior Notes shall be issued in an initial aggregate principal amount of $250,000,000. 

SECTION 204 Interest Rates; Stated Maturity of the Floating Rate Senior Notes. 

The rate of interest on the Floating Rate Senior Notes shall be calculated as set forth in the form of the Floating Rate Senior Notes attached
as Exhibit A hereto. 
 The Floating Rate Senior Notes shall have a Stated Maturity of November 30, 2017. 

SECTION 205 No Sinking Fund. 

No sinking fund is provided for the Floating Rate Senior Notes. 

SECTION 206 No Redemption. 

The Floating Rate Senior Notes shall not be subject to redemption prior to their Stated Maturity. 

SECTION 207 Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the Floating Rate Senior Notes. The Place of Payment of
the Floating Rate Senior Notes shall be the Corporate Trust Office of the Trustee. 

  
 5 

 SECTION 208 Calculation Agent. 

The Bank of New York Mellon Trust Company, N.A. is hereby appointed as the initial Calculation Agent for the Floating Rate Senior Notes. 

SECTION 209 Global Securities; Appointment of Depositary for Global Securities. 

The Floating Rate Senior Notes shall be issued in the form of one or more permanent Global Bonds as provided in Section 3.13 of the
Indenture and deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. 

The Company hereby initially appoints The Depository Trust Company (“DTC”) to act as the Depositary with respect to all Floating
Rate Senior Notes, and the Floating Rate Senior Notes shall initially be registered in the name of Cede & Co., as the nominee of DTC. 

The Company and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor
nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if necessary, and shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Indenture. 

None of the Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of
Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of
beneficial interests in the Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION 210 Other Terms of the
Floating Rate Senior Notes. 
 The other terms of the Floating Rate Senior Notes shall be as expressly set forth herein and in
Exhibit A. 
 ARTICLE III 

ESTABLISHMENT OF THE 4.00% SENIOR NOTES; TERMS 

SECTION 301 Establishment and Designation of the 4.00% Senior Notes. 

Pursuant to the terms hereof and Section 3.01 of the Indenture, the Company hereby establishes a fifty-second series of Bonds designated
as the “4.00% Senior Notes due December 1, 2046” (the “4.00% Senior Notes”). The 4.00% Senior Notes may be reopened, from time to time, for issuances of additional Bonds of such series, and any additional Bonds issued and
comprising 4.00% Senior Notes shall have identical terms as the 4.00% Senior Notes, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

  
 6 

 SECTION 302 Form of the 4.00% Senior Notes. 

The 4.00% Senior Notes shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit B hereto. 

SECTION 303 Principal Amount of the 4.00% Senior Notes. 

The 4.00% Senior Notes shall be issued in an initial aggregate principal amount of $400,000,000. 

SECTION 304 Interest Rates; Stated Maturity of the 4.00% Senior Notes; Minimum Denomination. 

The 4.00% Senior Notes shall bear interest at the rate of 4.00% per annum and shall have a Stated Maturity of December 1, 2046. 

The 4.00% Senior Notes are issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

SECTION 305 No Sinking Fund. 

No sinking fund is provided for the 4.00% Senior Notes. 

SECTION 306 Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the 4.00% Senior Notes. The Place of Payment of the
4.00% Senior Notes shall be the Corporate Trust Office of the Trustee. 
 SECTION 307 Global Securities; Appointment of Depositary for
Global Securities. 
 The 4.00% Senior Notes shall be issued in the form of one or more permanent Global Bonds as provided in
Section 3.13 of the Indenture and deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. 

The Company hereby initially appoints The Depository Trust Company (“DTC”) to act as the Depositary with respect to all 4.00% Senior
Notes, and the 4.00% Senior Notes shall initially be registered in the name of Cede & Co., as the nominee of DTC. 
 The Company
and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized in connection with any successor nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if necessary, and
shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Indenture. 
 None of the
Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of Depositary records relating to, or payments made 

  
 7 

 
on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for
transfers of beneficial interests in the Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION 308
Optional Redemption of the 4.00% Senior Notes. 
 (a) Subject to the terms and conditions of the Indenture, at any time prior
to June 1, 2046 (the date that is six months prior to the Maturity Date), the 4.00% Senior Notes are redeemable at the option of the Company in whole or in part at a Redemption Price equal to the greater of: 

(i) 100% of the principal amount of the 4.00% Senior Notes to be redeemed; or 

(ii) as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and
interest on the 4.00% Senior Notes to be redeemed (not including any portion of payments of interest accrued as of the Redemption Date), calculated as if the Maturity Date of such 4.00% Senior Notes was June 1, 2046 (the date that is six months
prior to the Maturity Date), discounted to the Redemption Date on a semiannual basis at the Adjusted Treasury Rate, plus 20 basis points; 
 plus, in either
of the above cases, accrued and unpaid interest thereon to but not including the Redemption Date. 
 (b) Subject to the terms and conditions
of the Indenture, at any time on or after June 1, 2046 (the date that is six months prior to the Maturity Date), the 4.00% Senior Notes are redeemable at the option of the Company in whole or in part at 100% of the principal amount of the 4.00%
Senior Notes to be redeemed, plus accrued and unpaid interest thereon to but not including the Redemption Date. 
 (c) The Redemption Price
shall be calculated assuming a 360-day year consisting of twelve 30-day months. 
 (d) The Company shall calculate the Redemption Price for
the redemption of any 4.00% Senior Notes pursuant to Section 308(a) or Section 308(b), and notify the Trustee of such Redemption Price before it sends the amount of the Redemption Price to the Trustee or any Paying Agent. 

(e) Notice of any redemption pursuant to Section 308(a) or Section 308(b) shall be given to Holders of the 4.00% Senior Notes not
less than ten (10) days nor more than sixty (60) days prior to the Redemption Date in the manner set forth in Section 6.04 of the Indenture and by e-mail to the Depositary; provided, however, that such notice need not state the dollar
amount of the Redemption Price if such dollar amount has not been determined as of the date such notice is being given to the Holders of the 4.00% Senior Notes being redeemed. Notwithstanding Section 6.02 of the Indenture, if the Company elects
to redeem 4.00% Senior 

  
 8 

 
Notes pursuant to Section 308(a) or Section 308(b) hereof, it shall give written notice to the Trustee of such Redemption Date and of the principal amount of the 4.00% Senior Notes to
be redeemed at least twenty (20) days prior to the redemption date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee). 

SECTION 309 Other Terms of the 4.00% Senior Notes. 

The other terms of the 4.00% Senior Notes shall be as expressly set forth herein and in Exhibit B. 

ARTICLE IV 

MISCELLANEOUS 
 SECTION 401
Concerning the Trustee. 
 In acting under and by virtue of this Twenty-Eighth Supplemental Indenture, the Trustee shall have
all of the rights, protections and immunities given to it in the Base Indenture. The Trustee shall have no responsibility for the validity or sufficiency of this Twenty-Eighth Supplemental Indenture. 

SECTION 402 Application of Twenty-Eighth Supplemental Indenture. 

Except as provided herein, each and every term and condition contained in this Twenty-Eighth Supplemental Indenture that modifies, amends or
supplements the terms and conditions of the Indenture shall apply only to the Floating Rate Senior Notes and the 4.00% Senior Notes established hereby and not to any other series of Bonds established under the Indenture. Except as specifically
amended and supplemented by, or to the extent inconsistent with, this Twenty-Eighth Supplemental Indenture, the Indenture shall remain in full force and effect and is hereby ratified and confirmed. 

SECTION 403 Effective Date of Twenty-Eighth Supplemental Indenture. 

This Twenty-Eighth Supplemental Indenture shall be effective upon the execution and delivery hereof by each of the parties hereto. 

SECTION 404 Counterparts. 

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

  
 9 

 IN WITNESS WHEREOF, the parties hereto have caused this Twenty-Eighth Supplemental Indenture to
be duly executed by their respective officers hereunto duly authorized, all as of the day and year first above written. 
  

			
	PACIFIC GAS AND ELECTRIC COMPANY,
	        as Issuer
		
	By:	 	 /s/ Nicholas M. Bijur

	Name:	 	Nicholas M. Bijur
	Title:	 	Vice President and Treasurer
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	        as Trustee
		
	By:	 	 /s/ Valère D. Boyd

	Name:	 	Valère D. Boyd
	Title:	 	Vice President

  
 Signature Page to
Twenty-Eighth Supplemental Indenture 

 EXHIBIT A 

FORM OF FLOATING RATE SENIOR NOTES DUE NOVEMBER 30, 2017 

THIS SENIOR NOTE IS A BOND AND A GLOBAL BOND WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SENIOR NOTES IN DEFINITIVE FORM, THIS SENIOR 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 SENIOR NOTE CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SENIOR NOTE CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE
INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT :
 $250,000,000
	 	 ORIGINAL ISSUE DATE:
 December 1,
2016
	 	INTEREST RATE: 3-month LIBOR plus 0.20% per annum
			
	 MATURITY DATE:
  

November 30, 2017
	 	 INTEREST PAYMENT DATES:
  

February 28, 2017, May 30, 2017, August 30, 2017 and the Maturity Date
	 	 THIS SENIOR NOTE IS A:
  

☒     Global Book-Entry Bond
 ☐
    Certificated Bond

			
	REGISTERED OWNER: Cede & Co., as nominee of The Depository Trust Company	 		 	

  
 A-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

FLOATING RATE SENIOR NOTES DUE NOVEMBER 30, 2017 

(Floating Rate) 
  

			
	No. R-    	  	Principal Amount: $        

 CUSIP No: 694308HQ3 

PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of California (herein called the
“Company,” which term includes any successor Person pursuant to the applicable provisions of the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., as nominee for The Depository Trust
Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in the case of a Floating Rate Senior Note due
November 30, 2017 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on the Interest Payment Dates set forth
above and on the Maturity Date stated above until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be
paid to the Person in whose name this Floating Rate Senior Note due November 30, 2017 (this “Senior Note,” and together with all other Floating Rate Senior Notes due November 30, 2017, the “Senior Notes”) (or one or
more Predecessor Bonds) is registered at the close of business on the Regular Record Date for such interest, which shall be the 15th day preceding such Interest Payment Date, as applicable;
provided, however, that interest payable at the Maturity Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on
such Regular Record Date and may either be paid to the Person in whose name this Senior Note (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice whereof shall be given to Holders of Senior Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of the Indenture and any
securities exchange, if any, on which the Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Indenture. 

Payments of interest on this Senior Note will include interest accrued to but excluding the respective Interest Payment Dates. Interest
payments for this Senior Note shall be computed and paid on the basis of a 360-day year and the actual days elapsed. 
 Payment of principal
of, premium, if any, and interest on Senior Notes shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any,
and interest on the Senior Notes represented by a Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of

  
 A-2 

 
principal and premium, if any, such Global Bond is first surrendered to the Paying Agent. If any of the Senior Notes are no longer represented by a Global Bond, (i) payments of principal,
premium, if any, and interest due on the Maturity Date of such Senior Notes shall be made at the office of the Paying Agent upon surrender of such Senior Notes to the Paying Agent, and (ii) payments of interest shall be made, at the option of
the Company, subject to such surrender where applicable, (A) by check mailed to the address of the Person entitled thereto as such address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least
$10,000,000 in principal amount of Senior Notes at such place and to such account at a banking institution in the United States as such Holders may designate in writing to the Trustee at least sixteen (16) days prior to the date for payment.

 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SENIOR NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL
FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 
 Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-3 

 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
 Dated:             , 2016 

 

					
	PACIFIC GAS AND ELECTRIC COMPANY
		
	By:	 	  

		 	Name:	 	David S. Thomason
		 	Title:	 	Vice President, Chief Financial Officer and Controller
		
	By:	 	  

		 	Name:	 	Nicholas M. Bijur
		 	Title:	 	Vice President and Treasurer

  
 A-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This Senior Note is one of the Bonds of the series designated as Bonds of the Fifty-First Series referred to in the within-mentioned
Indenture. 
 Dated:             , 2016 

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., As Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 A-5 

 Reverse of Senior Note 

This Floating Rate Senior Note due November 30, 2017 is one of a duly authorized issue of Bonds of the Company, issued and issuable in
one or more series under an Amended and Restated Indenture, dated as of April 22, 2005 (the “Base Indenture”), as heretofore supplemented and as further supplemented by a Twenty-Eighth Supplemental Indenture, dated as of
December 1, 2016 (as so supplemented, and together with all additional indentures supplemental thereto, and any constituent instruments establishing the terms of particular Bonds, being herein called the “Indenture”), between the
Company and The Bank of New York Mellon Trust Company, N.A. (formerly The Bank of New York Trust Company, N.A.), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is
hereby made to the Indenture for a description of the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to
be, authenticated and delivered. This Senior Note is a Bond within the meaning of the Indenture and is one of the Bonds of the fifty-first series designated as the Floating Rate Senior Notes due November 30, 2017, established by the Company
under the Indenture. The acceptance of this Senior Note shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. 

The interest rate on the Senior Notes will be reset quarterly on February 28, 2017, May 30, 2017 and August 30, 2017
(each, an “Interest Reset Date”). The Senior Notes will bear interest at a per annum rate equal to three-month LIBOR (as defined below) for the applicable Interest Reset Period or Initial Interest Period (each as defined below) plus 0.20%
(20 basis points). The interest rate for the Initial Interest Period will be three-month LIBOR, determined as of two London Business Days prior to the Original Issue Date, plus 0.20% (20 basis points) per annum, which shall be 1.13067%. 

The “Initial Interest Period” will be the period from and including the Original Issue Date to but excluding the initial Interest
Reset Date. Thereafter, each “Interest Reset Period” will be the period from and including an Interest Reset Date to but excluding the immediately succeeding Interest Reset Date; provided that the final Interest Reset Period for the Senior
Notes will be the period from and including the Interest Reset Date immediately preceding the Maturity Date of such Senior Notes to but excluding the Maturity Date. 

If any Interest Reset Date would otherwise be a day that is not a Business Day, the Interest Reset Date will be postponed to the immediately
succeeding day that is a Business Day, except that if that Business Day is in the immediately succeeding calendar month, the Interest Reset Date shall be the immediately preceding Business Day. 

The interest rate in effect on each day will be (i) if that day is an Interest Reset Date, the interest rate determined as of the
Interest Determination Date (as defined below) immediately preceding such Interest Reset Date or (ii) if that day is not an Interest Reset Date, the interest rate determined as of the Interest Determination Date immediately preceding the most
recent Interest Reset Date or the Original Issue Date, as the case may be. 

  
 A-6 

 The interest rate applicable to each Interest Reset Period commencing on the related Interest
Reset Date, or the Original Issue Date in the case of the Initial Interest Period, will be the rate determined as of the applicable Interest Determination Date. The “Interest Determination Date” will be the second London Business Day
immediately preceding the Original Issue Date, in the case of the initial Interest Reset Period, or thereafter, will be the second London Business Day immediately preceding the applicable Interest Reset Date. With respect to any Interest
Determination Date, the Calculation Agent will determine three-month LIBOR in accordance with the following provisions: 
 (i) LIBOR is the
rate for deposits in U.S. dollars for the three-month period which appears on Reuters Screen LIBOR01 Page (as defined below) at approximately 11:00 a.m., London time, on the applicable Interest Determination Date. “Reuters Screen LIBOR01
Page” means the display designated on page “LIBOR01” on Reuters Screen (or such other page as may replace the LIBOR01 page on that service, any successor service or such other service or services as may be nominated by the British
Bankers’ Association for the purpose of displaying London interbank offered rates for U.S. dollar deposits). If no rate appears on Reuters Screen LIBOR01 Page, LIBOR for such Interest Determination Date will be determined in accordance with the
provisions of paragraph (ii) below. 
 (ii) With respect to an Interest Determination Date on which no rate appears on Reuters Screen
LIBOR01 Page as of approximately 11:00 a.m., London time, on such Interest Determination Date, the Calculation Agent shall request the principal London offices of each of four major reference banks (which may include affiliates of the underwriters)
in the London interbank market selected by the Company to provide the Calculation Agent with a quotation of the rate at which deposits of U.S. dollars having a three-month maturity, commencing on the second London Business Day immediately following
such Interest Determination Date, are offered by it to prime banks in the London interbank market as of approximately 11:00 a.m., London time, on such Interest Determination Date in a principal amount equal to an amount of not less than U.S.
$1,000,000 that is representative for a single transaction in such market at such time. If at least two such quotations are provided, LIBOR for such Interest Determination Date will be the arithmetic mean of such quotations as calculated by the
Calculation Agent. If fewer than two quotations are provided, LIBOR for such Interest Determination Date will be the arithmetic mean of the rates quoted as of approximately 11:00 a.m., New York City time, on such Interest Determination Date by three
major banks (which may include affiliates of the underwriters) selected by the Company for loans in U.S. dollars to leading European banks having a three-month maturity commencing on the second London Business Day immediately following such Interest
Determination Date and in a principal amount equal to an amount of not less than U.S. $1,000,000 that is representative for a single transaction in such market at such time; provided, however, that if the banks selected as aforesaid by the Company
are not quoting such rates as mentioned in this sentence, LIBOR for such Interest Determination Date will be LIBOR determined with respect to the immediately preceding Interest Determination Date. 

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

  
 A-7 

 Promptly upon such determination, the Calculation Agent will notify the Company and the Trustee
(if the Calculation Agent is not the Trustee) of the interest rate for the new Interest Reset Period. Upon request of a Holder of the Senior Notes, the Calculation Agent will provide to such Holder the interest rate in effect on the date of such
request and, if determined, the interest rate for the next Interest Reset Period. 
 All calculations made by the Calculation Agent for the
purposes of calculating interest on the Senior Notes shall be conclusive and binding on the Holders of the Senior Notes and the Company, absent manifest errors. 

“Business Day” means any day (1) that is not a Saturday or Sunday and that is not a day on which banking institutions are
authorized or obligated by law or executive order to close in The City of New York and, for any place of payment outside of The City of New York, in such place of payment, and (2) that is also a “London Business Day”, which is a day
on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 
 Interest will be payable on
February 28, 2017, May 30, 2017, August 30, 2017 and on the Maturity Date (each an “Interest Payment Date”). In the event that any date on which interest is payable on this Senior Note (other than the Maturity
Date) is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same force and effect as if
made on the date the payment was originally payable, except that if such Business Day is in the next succeeding calendar month, such Interest Payment Date shall be the immediately preceding Business Day. If the Maturity Date falls on a day that is
not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding Business Day with the same force and effect as if made on the date payment was originally payable, and no interest on such payment shall
accrue for the period from and after maturity. 
 Unless otherwise specified on the face hereof, interest payments, if any, will be the
amount of interest accrued from and including the last date in respect of which interest has been paid or duly provided for (or from and including the Original Issue Date stated above if no interest has been paid or provided for with respect to this
Senior Note) to but excluding the Interest Payment Date or the Maturity Date. Accrued interest hereon from the Original Issue Date stated above or from the last date to which interest hereon has been paid is calculated by multiplying the face amount
hereof by an accrued interest factor. Such accrued interest factor is computed by adding the interest factor calculated for each day from the Original Issue Date stated above or from the last date to which interest shall have been paid, to the date
for which accrued interest is being calculated. The interest factor for each day shall be computed by dividing the interest rate applicable to such day by 360. All percentages resulting from any calculation hereon will be rounded to the nearest one
hundred-thousandth of a percentage point, with five-one millionths of a percentage point rounded upwards. For example, 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655). All dollar amounts used in or resulting from any calculation
hereon will be rounded to the nearest cent. 
 The interest rate on the Senior Notes will in no event be higher than the maximum rate
permitted by California law as the same may be modified by United States law of general applicability. 

  
 A-8 

 This Senior Note shall not be subject to redemption prior to its Stated Maturity. 

As provided in the Indenture and subject to certain limitations therein set forth, this Senior Note or any portion of the principal amount
hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably
deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof,
will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and premium, if any, and interest on this Senior Note when due. 

If an Event of Default shall occur and be continuing, the Trustee or the Holders of not less than 33% in aggregate principal amount of the
Outstanding Bonds, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that with
respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be due and payable immediately without further action by the Trustee or the Holders. 

The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee to enter into one or more supplemental
indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in aggregate principal amount of the Bonds at the
time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Indenture and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of
one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all series so directly affected, considered as one class, shall be required; and provided,
further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such Tranches, then the
consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so directly affected, considered as one class, shall be required; and provided, further, that the Indenture permits the Company and the
Trustee to enter into one or more supplemental indentures for certain purposes without the consent of any Holders of Bonds. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf
of the Holders of all such Bonds, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Senior Note shall be conclusive and binding upon such Holder and upon all future Holders of
this Senior Note and of any Senior Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Senior Note. 

As provided in and subject to the provisions of the Indenture, the Holder of this Senior Note shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall 

  
 A-9 

 
have previously given the Trustee written notice of a continuing Event of Default, the Holders of at least 33% in aggregate principal amount of the Bonds at the time Outstanding shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate
principal amount of Bonds at the time Outstanding a direction inconsistent with such written request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing
shall not apply to any suit instituted by the Holder of this Senior Note for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Senior Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Senior Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Senior Note is registrable in the Bond
Register, upon surrender of this Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Senior Note are payable, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new
Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Senior Notes are exchangeable for a like aggregate principal amount of Senior Notes and of like tenor of a different authorized denomination, as requested by
the Holder surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due
presentment of this Senior Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Senior Note is registered as the owner hereof for all purposes, whether or not
this Senior Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This
Senior Note shall be governed by, and construed and enforced in accordance with, the laws of the State of California without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be
applicable. 

  
 A-10 

 As provided in the Indenture, no recourse shall be had for the payment of the principal of,
premium, if any, or interest with respect to this Senior Note, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the
Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor
corporation), whether by virtue of any constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Bonds are solely
corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of this Senior Note. 

All terms used in this Senior Note which are not defined herein shall have the meanings assigned to them in the Indenture. 

  
 A-11 

 ASSIGNMENT FORM 

To assign this Senior Note, fill in the form below: (I) or (we) assign and transfer this Senior Note to 

 
  

(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 Senior Note on the books of the Company. The agent may substitute another to act for him. 

 
  

Date:                      

 

			
		  	Your signature:                                   
                                         
   
		  	(Sign exactly as your name appears on the face of this Senior Note)
		
		  	Tax Identification No.:                                
                                   
		
		  	SIGNATURE GUARANTEE:
		
		  	                                      
                                  
		
		  	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Securities Transfer Agent Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended.

  
 A-12 

 EXHIBIT B 

FORM OF 4.00% SENIOR NOTES DUE DECEMBER 1, 2046 

THIS SENIOR NOTE IS A BOND AND A GLOBAL BOND WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SENIOR NOTES IN DEFINITIVE FORM, THIS SENIOR 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 SENIOR NOTE CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SENIOR NOTE CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE
INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT :
 $400,000,000
	 	 ORIGINAL ISSUE DATE:
 December 1,
2016
	 	INTEREST RATE: 4.00% per annum
			
	 MATURITY DATE:
  

December 1, 2046
	 	 INTEREST PAYMENT DATES:
  

June 1 and December 1, commencing June 1, 2017
	 	 THIS SENIOR NOTE IS A:
  

☒    Global Book-Entry Bond

☐    Certificated Bond

	REGISTERED OWNER: Cede & Co., as nominee of The Depository Trust Company	 		 	

  
 B-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

4.00% SENIOR NOTES DUE DECEMBER 1, 2046 

(Fixed Rate) 
  

			
	No. R-        	  	Principal Amount: $        
	CUSIP No: 694308HR1	  	

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., as
nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in the case of a 4.00%
Senior Note due December 1, 2046 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the Interest
Payment Dates set forth above and on the Maturity Date stated above, commencing June 1, 2017 at the rate of 4.00% per annum until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or
duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this 4.00% Senior Note due December 1, 2046 (this “Senior Note,” and together with all other 4.00% Senior Notes
due December 1, 2046, the “Senior Notes”) (or one or more Predecessor Bonds) is registered at the close of business on the Regular Record Date for such interest, which shall be the May 15th and November 15th preceding such
Interest Payment Date; provided, however, that interest payable at the Maturity Date or on a Redemption Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Senior Note (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Senior Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of the Indenture and any securities exchange, if any, on which the Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Indenture. 

Payments of interest on this Senior Note will include interest accrued to but excluding the respective Interest Payment Dates. Interest
payments for this Senior Note shall be computed and paid on the basis of the 360-day year of twelve 30-day months and will accrue from December 1, 2016 or from the most recent Interest Payment Date to which interest has been paid or duly
provided for. In the event that any date on which interest is payable on this Senior Note (other than the Maturity Date) is not a Business Day then payment of the interest payable on such date will be made on the next succeeding day that is a
Business Day (and without any interest or payment in respect of any such delay) with the same force and effect as if made on the 

  
 B-2 

 
date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding
Business Day, and no interest on such payment shall accrue for the period from and after maturity. 
 Payment of principal of, premium, if
any, and interest on Senior Notes shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any, and interest on
the Senior Notes represented by a Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first
surrendered to the Paying Agent. If any of the Senior Notes are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or earlier redemption of such Senior Notes shall be made
at the office of the Paying Agent upon surrender of such Senior Notes to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the
address of the Person entitled thereto as such address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Senior Notes at such place and to such account at a banking
institution in the United States as such Holders may designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SENIOR NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 B-3 

 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
 Dated:             , 2016 

 

					
	PACIFIC GAS AND ELECTRIC COMPANY
		
	By:	 	  

		 	Name:	 	David S. Thomason
		 	Title:	 	Vice President, Chief Financial Officer and Controller
		
	By:	 	  

		 	Name:	 	Nicholas M. Bijur
		 	Title:	 	Vice President and Treasurer

  
 B-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This Senior Note is one of the Bonds of the series designated as Bonds of the Fifty-Second Series referred to in the within-mentioned
Indenture. 
 Dated:             , 2016 

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., As Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 B-5 

 Reverse of Senior Note 

This 4.00% Senior Note due December 1, 2046 is one of a duly authorized issue of Bonds of the Company, issued and issuable in one or more
series under an Amended and Restated Indenture, dated as of April 22, 2005 (the “Base Indenture”), as heretofore supplemented and as further supplemented by a Twenty-Eighth Supplemental Indenture, dated as of December 1, 2016 (as
so supplemented, and together with all additional indentures supplemental thereto, and any constituent instruments establishing the terms of particular Bonds, being herein called the “Indenture”), between the Company and The Bank of New
York Mellon Trust Company, N.A. (formerly The Bank of New York Trust Company, N.A.), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for
a description of the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and delivered.
This Senior Note is a Bond within the meaning of the Indenture and is one of the Bonds of the fifty-second series designated as the 4.00% Senior Notes due December 1, 2046 established by the Company under the Indenture. The acceptance of this
Senior Note shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. 

Subject to the terms and conditions of the Indenture, the Senior Notes are redeemable at the option of the Company (“Optional
Redemption”), in whole or in part, (a) at any time prior to June 1, 2046 (the date that is six months prior to the Maturity Date) at a Redemption Price equal to the greater of: 

(i) 100% of the principal amount of the Senior Notes to be redeemed; or 

(ii) as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and
interest on the Senior Notes to be redeemed (not including any portion of payments of interest accrued as of the Redemption Date), calculated as if the Maturity Date of such Senior Notes was June 1, 2046 (the date that is six months prior to
the Maturity Date), discounted to the Redemption Date on a semi-annual basis at the Adjusted Treasury Rate, plus 20 basis points, 
 plus, in either of the
above cases, accrued and unpaid interest thereon to but not including the Redemption Date; and (b) at any time on or after June 1, 2046 (the date that is six months prior to the Maturity Date) at 100% of the principal amount of the Senior
Notes to be redeemed, plus accrued and unpaid interest thereon to but not including the Redemption Date. 
 Interest installments whose
Stated Maturity is on or prior to such Redemption Date will be payable to Holders of such Senior Notes, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided
in the Indenture. 
 In the case of an Optional Redemption, notice of redemption will be in writing and mailed first-class postage-prepaid
not less than 10 days nor more than 60 days prior to the Redemption Date to each Holder of Senior Notes to be redeemed at the Holder’s registered 

  
 B-6 

 
address; provided, however, that such notice need not state the dollar amount of the Redemption Price if such dollar amount has not been determined as of the date such notice is being given to
the Holders of the Senior Notes being redeemed. If money sufficient to pay the Redemption Price of all Senior Notes (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent or the Trustee on or prior to the
Redemption Date, from and after such Redemption Date such Senior Notes or portions thereof shall cease to bear interest. Senior Notes in denominations larger than $2,000 in principal amount may be redeemed in part but only in integral multiples of
$1,000. 
 In the event of redemption of this Senior Note in part only, a new Senior Note or Senior Notes of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the surrender hereof. 
 As provided in the Indenture and subject to
certain limitations therein set forth, this Senior Note or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding thereunder, and the Company’s entire
indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible
Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay
when due the principal of and premium, if any, and interest on this Senior Note when due. 
 If an Event of Default shall occur and be
continuing, the Trustee or the Holders of not less than 33% in aggregate principal amount of the Outstanding Bonds, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice
in writing to the Company (and to the Trustee if given by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be
due and payable immediately without further action by the Trustee or the Holders. 
 The Indenture permits, with certain exceptions as
therein provided, the Company and the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the
Holders of not less than a majority in aggregate principal amount of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Indenture and if a
proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of
all series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly affect the
rights of the Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so directly affected, considered as one
class, shall be required; and provided, further, that the Indenture permits the Company and the Trustee to enter into one or more supplemental 

  
 B-7 

 
indentures for certain purposes without the consent of any Holders of Bonds. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on
behalf of the Holders of all such Bonds, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Senior Note shall be conclusive and binding upon such Holder and upon all future
Holders of this Senior Note and of any Senior Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Senior Note. 

As provided in and subject to the provisions of the Indenture, the Holder of this Senior Note shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default, the Holders of
at least 33% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and
the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds at the time Outstanding a direction inconsistent with such written request, and shall have failed to institute any such proceeding for
60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Senior Note for the enforcement of any payment of principal hereof or any premium or interest hereon on
or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Senior Note or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Senior Note at the times, place and rate, and in the coin or currency, herein
prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Senior Note is
registrable in the Bond Register, upon surrender of this Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Senior Note are payable, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and
thereupon one or more new Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in excess
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Senior Notes are exchangeable for a like aggregate principal amount of Senior Notes and of like tenor of a different authorized denomination, as requested by
the Holder surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 B-8 

 The Company shall not be required to execute or to provide for the registration of the transfer
of or the exchange of (A) any Senior Note of this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial numbers of the Senior Notes called for redemption, or (B) any Senior Note
selected for redemption in whole or in part, except the unredeemed portion of any Senior Note being redeemed in part. 
 Prior to due
presentment of this Senior Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Senior Note is registered as the owner hereof for all purposes, whether or not
this Senior Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This
Senior Note shall be governed by, and construed and enforced in accordance with, the laws of the State of California without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be
applicable. 
 As provided in the Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with
respect to this Senior Note, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the Indenture, against any incorporator,
shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any
constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Bonds are solely corporate obligations and that any such
personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of this Senior Note. 

All terms used in this Senior Note which are not defined herein shall have the meanings assigned to them in the Indenture. 

  
 B-9 

 ASSIGNMENT FORM 

To assign this Senior Note, fill in the form below: (I) or (we) assign and transfer this Senior Note to 

 
  

(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 Senior Note on the books of the Company. The agent may substitute another to act for him. 

 
  

Date:                      

 

			
		  	Your signature:                                   
                                         
   
		  	(Sign exactly as your name appears on the face of this Senior Note)
		
		  	Tax Identification No.:                                
                                  
		
		  	SIGNATURE GUARANTEE:
		
		  	                                      
                                  
		
		  	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Securities Transfer Agent Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended.

  
 B-10EX-4.1

 EXHIBIT 4.1 

CITIBANK CREDIT CARD ISSUANCE TRUST 

Citiseries 
 Class
2016-A1 Notes 
 Issuer Certificate 

Pursuant to Sections 202 and 301(h) of the Indenture 

Reference is made to the Second Amended and Restated Indenture dated as of September 26, 2000, as amended and restated as of August 9, 2011,
and as further amended and restated as of November 10, 2016 between Citibank Credit Card Issuance Trust (the “Issuer”) and Deutsche Bank Trust Company Americas, as trustee (as so further amended and restated, the “Indenture”).
Capitalized terms used herein that are not otherwise defined have the meanings set forth in the Indenture. All references herein to designated Sections are to the designated Sections of the Indenture. 

Section 301(h) provides that the Issuer may from time to time create a tranche of Notes either by or pursuant to an Issuer Certificate setting
forth the principal terms thereof. Pursuant to this Issuer Certificate, there is hereby created a tranche of Notes having the following terms: 
 Series
Designation: Citiseries. This series is included in Group 1. 
 Tranche Designation: $2,000,000,000 1.75% Class 2016-A1 Notes of
November 2019 (Legal Maturity Date November 2021) (hereinafter, the “Class 2016-A1 Notes”) 
 Currency: The Class 2016-A1 Notes will
be payable, and denominated, in Dollars. 
 Denominations: The Class 2016-A1 Notes will be issuable in minimum denominations of $100,000 and
multiples of $1,000 in excess of that amount. 
 Issuance Date: December 8, 2016 

Initial Principal Amount: $2,000,000,000 
 Issue
Price: 99.99464% 
 Interest Rate: 1.75% per annum, calculated on the basis of a 360 day year of twelve 30 day months. 

Scheduled Interest Payment Dates: The 19th day of each May and November, beginning May 19, 2017. 

Each payment of interest on the Class 2016-A1 Notes will include all interest accrued from and including the preceding Interest Payment Date — or, for
the first interest period, from and including the Issuance Date — to and including the day preceding the current Interest Payment Date, plus any interest accrued but not previously paid. 

 The first deposit targeted to be made to the Interest Funding sub-Account for the Class 2016-A1 Notes will be on
the January 19, 2017 Interest Deposit Date and in an amount equal to $3,986,111.11. 
 Expected Principal Payment Date: November 19, 2019 

Legal Maturity Date: November 19, 2021 
 Monthly
Principal Date: For the month in which the Expected Principal Payment Date occurs, November 19, 2019, and for each other month, the 19th day of such month, or if such day is not a Business Day, the next following Business Day. 

Required Subordinated Amount of Class B Notes: $119,658,200.00 

Required Subordinated Amount of Class C Notes: $159,544,200.00 

Controlled Accumulation Amount: $166,666,666.67 

Form of Notes: The Class 2016-A1 Notes will be issued as Global Notes. The Global Notes will initially be registered in the name of Cede &
Co., as nominee of The Depository Trust Company, and will be exchangeable for individual Notes only in accordance with the provisions of Section 204(c). 

Additional Issuances of Class 2016-A1 Notes: The Issuer may at any time and from time to time issue additional Class 2016-A1 Notes, subject to the
satisfaction of (i) the conditions precedent set forth in Section 311(a) and (ii) the following conditions: 
  

	 	(a)	The Issuer has obtained written confirmation from each Rating Agency that there will be no Ratings Effect with respect to the then outstanding Class 2016-A1 Notes as a result of the issuance of such additional Class
2016-A1 Notes; 

  

	 	(b)	As of the date of issuance of the additional Class 2016-A1 Notes, all amounts due and owing to the Holders of the then outstanding Class 2016-A1 Notes have been paid and there is no Nominal Liquidation Amount Deficit
with respect to the then outstanding Class 2016-A1 Notes; 

  

	 	(c)	The additional Class 2016-A1 Notes will be fungible with the original Class 2016-A1 Notes for federal income tax purposes; 

  

	 	(d)	If Holders of the then outstanding Class 2016-A1 Notes have the benefit of a Derivative Agreement, the Issuer will have obtained a Derivative Agreement for the benefit of the Holders of the additional Class 2016-A1
Notes; and 

  

	 	(e)	The ratio of the Controlled Accumulation Amount to the Initial Dollar Principal Amount of the Class 2016-A1 Notes, including the additional Class 2016-A1 Notes, will be equal to the ratio of the Controlled Accumulation
Amount (before giving effect to the additional issuance) to the Initial Dollar Principal Amount of the Class 2016-A1 Notes, excluding the additional Class 2016-A1 Notes. 

  
 2 

 As of the date of issuance of additional Class 2016-A1 Notes, the Outstanding Dollar Principal Amount and Nominal
Liquidation Amount of the Class 2016-A1 Notes will be increased to reflect the Initial Dollar Principal Amount of the additional Class 2016-A1 Notes. 
 Any
outstanding Class 2016-A1 Notes and any additional Class 2016-A1 Notes will be equally and ratably entitled to the benefits of the Indenture without preference, priority or distinction. 

Optional Redemption Provisions other than Section 1202 “Clean-Up Call”: None 

Additional Early Redemption Events or changes to Early Redemption Events: None 

Additional Events of Default or changes to Events of Default: None 

Business Day: means any day other than (a) a Saturday or Sunday or (b) any other day on which national banking associations or state banking
institutions in New York, New York or South Dakota, or any other state in which the principal executive offices of any Additional Seller are located, are authorized or obligated by law, executive order or governmental decree to be closed. 

Securities Exchange Listing: None 

  
 3 

 The Class 2016-A1 Notes shall have such other terms as are set forth in the form of Note attached
hereto as Exhibit A. Pursuant to Section 202, the form of Note attached hereto has been approved by the Issuer. 
  

					
	CITIBANK CREDIT CARD ISSUANCE TRUST
	By  	 	 Citibank, N.A.,

as Managing Beneficiary

			
	 	 	 	 	
		 	 [Name]
	 	
		 	 [Title]
	 	

 Dated: December 8, 2016 

  
 4 

 Citiseries 

Class 2016-A1 Notes 

Reference is made to the resolutions adopted by the Board of Directors of Citibank, N.A. on January 28, 2016. The resolutions authorize
Citibank, N.A. from time to time to issue and sell, or to arrange for or participate in the issuance and sale of, one or more series and/or classes of pass-through certificates, participation certificates, commercial paper, notes, bonds or other
securities representing ownership interests in, or backed or secured by, pools of credit card receivables or interests therein (the “Receivables”) in an aggregate principal amount such that up to $55,000,000,000 of such certificates,
commercial paper, notes, bonds or other securities are outstanding at any one time and to sell, transfer, convey, assign or pledge or grant a security interest in all or any portion of its Receivables to Citibank Credit Card Master Trust I, Citibank
Omni Trust or any direct or indirect subsidiaries of Citibank, N.A., affiliates of Citigroup Inc., additional trusts or other entities or trustees in connection therewith on such terms as to be determined by the Citibank, N.A. Securitization Pricing
and Loan Committee (the “Pricing and Loan Committee”). 
 The undersigned, a duly authorized member of the Pricing and Loan
Committee, on behalf of such Pricing and Loan Committee, does hereby certify that the preceding Issuer Certificate, the terms of the tranche of Notes set forth in and to be created by the Issuer Certificate and the increase in the Invested Amount of
the Collateral Certificate resulting from the issuance of such Notes have been approved by such Pricing and Loan Committee. In addition, the following underwriting/selling agent terms with respect to this tranche of Notes have been approved by the
Pricing and Loan Committee: 
 Issue Price: 99.99464% 

Underwriting Commission: 0.25000% 

Proceeds to Issuer: 99.74464% 

Representative of the Underwriters: Citigroup Global Markets Inc. 

The preceding Issuer Certificate and this certification of Pricing and Loan Committee approval shall be, continuously from the time of their
execution, official records of Citibank, N.A. 
  

			
		
	   
	 	  

	[Name]
	Member of the Securitization Pricing and Loan Committee
	Citibank, N.A.

 Dated: December 8, 2016 

  
 5 

 Exhibit A 

FORM OF 
 CITISERIES 

1.75% CLASS 2016-A1 NOTES OF NOVEMBER 2019 

(Legal Maturity Date November 2021) 
  

							
	$500,000,000	 		 		  	REGISTERED
	CUSIP No. 17305E FW0	 		 		  	No. R-[1][2][3][4]

 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN AND IN THE INDENTURE
REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

CITIBANK CREDIT CARD ISSUANCE TRUST 

CITISERIES 
 1.75% CLASS 2016-A1
NOTES OF NOVEMBER 2019 
 (Legal Maturity Date November 2021) 

CITIBANK CREDIT CARD ISSUANCE TRUST, a trust formed and existing under the laws of the State of Delaware (including any successor, the “Issuer”),
for value received, hereby promises to pay to CEDE & CO., or its registered assigns, the principal amount of FIVE HUNDRED MILLION DOLLARS ($500,000,000). The Expected Principal Payment Date for this Note is November 19, 2019. The Legal Maturity
Date for this Note is November 19, 2021. 
 The Issuer hereby promises to pay interest on this Note on the 19th day of each May and November, beginning May
19, 2017, until the principal of this Note is paid or made available for payment, subject to certain limitations set forth in the Indenture. Interest will accrue on the 

 
outstanding principal amount of this Note for each interest period in an amount equal to the product of (i) the number of days in the interest period computed on the basis of a 360-day year of
twelve 30-day months, (ii) a rate per annum equal to the Class 2016-A1 Note Rate for such interest period, and (iii) the outstanding principal amount of this Note as of the preceding Interest Payment Date
(after giving effect to any payments of principal made on the preceding Interest Payment Date) or, with respect to the first Interest Payment Date, the initial principal amount of this Note. The Class 2016-A1
Note Rate will be determined as provided in the Indenture. 
 If any Interest Payment Date or Principal Payment Date of this Note falls on a day that is not
a Business Day, the required payment of interest or principal will be made on the following Business Day. 
 This Note is one of the Citiseries, Class
2016-A1 Notes issued pursuant to the Second Amended and Restated Indenture dated as of September 26, 2000, as amended and restated as of August 9, 2011, and as further amended and restated as of November 10, 2016 (as so further amended and restated
and otherwise modified from time to time, the “Indenture”) between the Issuer and Deutsche Bank Trust Company Americas, as Trustee. For purposes of this Note, the term “Indenture” includes any supplemental indenture or Issuer
Certificate relating to the Citiseries, Class 2016-A1 Notes. This Note is subject to all of the terms of the Indenture. All terms used in this Note that are not otherwise defined herein and that are defined in
the Indenture will have the meanings assigned to them therein. 
 The principal of and interest on this Note are payable in such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public and private debts. 
 Reference is made to the further provisions
of this Note set forth on the reverse hereof, which will have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate
of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note will not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by an Issuer
Authorized Officer. 
  

							
	CITIBANK CREDIT CARD ISSUANCE TRUST
		
	By:  	 	 CITIBANK, N.A.,

as Managing Beneficiary of

Citibank Credit Card Issuance Trust

				
		 	By:	 	 	 	
		 		 	    [Name]	 	
		 		 	    [Title]	 	

 Dated: December 8, 2016 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within mentioned Indenture. 

 

							
	 DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Trustee under the Indenture

			
	By:	 	 	 	
		 		 	    Authorized Signatory	 	

 Dated: December 8, 2016 

 REVERSE OF NOTE 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Citiseries 1.75% Class 2016-A1 Notes of November 2019 (Legal Maturity
Date November 2021) (herein called the “Notes”), all issued under an Indenture, to which Indenture reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of
the Notes. 
 This Note ranks pari passu with all other Class A Notes of the same series, as set forth in the Indenture. This Note is secured to the extent,
and by the collateral, described in the Indenture. 
 The Issuer will pay interest on overdue interest as set forth in the Indenture to the extent lawful.

 Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a beneficial interest in this Note, agrees
that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer or the Trustee on the Notes, against the Issuer, the Issuer Trustee, Citibank, N.A., the Trustee or any affiliate, officer, employee or director of
any of them, and the obligation of the Issuer to pay principal of or interest on this Note or any other amount payable to the Holder of this Note will be subject to Article V of the Indenture. 

Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a beneficial interest in this Note, in each case
other than Citibank, N.A. as Holder or owner, agrees that this Note is intended to be debt of Citibank, N.A. for federal, state and local income and franchise tax purposes, and agrees to treat this Note accordingly for all such purposes, unless
otherwise required by a taxing authority. 
 Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a
beneficial interest in this Note, agrees that it will not at any time institute against the Issuer, or join in any institution against the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other
proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to this Note, the Indenture or any Derivative Agreement. 

This Note and the Indenture will be construed in accordance with and governed by the laws of the State of New York. 

Certain amendments may be made to the Indenture without the consent of the Holder of this Note. This Note must be surrendered for final payment of principal
and interest. 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of
assignee:                                       
                      
 FOR VALUE RECEIVED, the
undersigned hereby sells, assigns and transfers unto 
  

 
  

 
 (name and address of
assignee) 
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                                         
                                         
                              , attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises. 
  

									
	Dated:  	 	 	 		 	  
	 	*
		 		 		 	Signature Guaranteed:	 	

  

*    NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within
Note in every particular without alteration, enlargement or any change whatsoever.

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